Eurocommercial Properties Nv · EURONEXT:ECMPA
Eurocommercial Properties Nv — Investor Day (September 2025)
37 slides from Eurocommercial Properties Nv's investor day presentation, Sep 11, 2025
Slide 1: Capital Markets Day
CAPITAL MARKETS DAY Brussels - 11.09.2025
Slide 2: Agenda
Agenda Welcome & Opening Remarks Evert Jan van Garderen, CEO European Retail Market Outlook Kim Verdonck, Head of Research, CBRE Company Strategy & Highlights Evert Jan van Garderen, CEO Digitalisation & Finance Roberto Fraticelli, CFO Woluwe Shopping Centre Benjamin Frois, Country Head Belgium Q&A
Slide 3: Company Strategy & Highlights
COMPANY STRATEGY & HIGHLIGHTS Evert Jan van Garderen, CEO 3
Slide 4: 4
4
Slide 5: Eurocommercial
EUROCOMMERCIAL Celebrating its 34th anniversary at Euronext Amsterdam DAM BEURSPLEIN 5 E — 4 =< i Li = — =) oO oe ce — =>} rr pr a a a a) on — EUROCOMMERCIAL Amsterdam EUROCOMMERCIAL 5
Slide 6: A proven track record of resilience
A proven track record of resilience PRICE AS PER IPO 1991 (IN €*) 45 • Recovery after global 40 crises demonstrates strong fundamentals 35 30 • Share price 25 consistently rebounds 20 and sustains growth over time 15 10 • Solid upward 5 momentum since 2020 supported by operations 0 * Historical pric
Slide 7: A proven growth journey over 30+ years
A proven growth journey over 30+ years TOTAL RETURN AS PER IPO 1991 (IN €*) 2100 2000 1900 • Attractive returns through dividends plus 1800 1700 1600 capital appreciation 1500 1400 1300 • Compounding effect 1200 1100 1000 from reinvested distributions 900 800 700 600 500 400 • Long-term value creati
Slide 8: A proven expansion in market value
A proven expansion in market value MARKET CAP AS PER IPO 1991 (IN € MILLION*) • Market cap has grown more than 10x since IPO • Resilient recovery after periods of market volatility • Recognition from investors of portfolio quality and strategy * Market caps before 1 January 1999 are converted from N
Slide 9: Our strategy
Our strategy Solid foundations, excellence and strategic drivers for growth FOUNDATIONS • Shopping centre specialist • Financial robustness CORE STRENGHTS • Value creation • Leasing excellence 4 PILLARS FOR GROWTH • Customer-centric approach • Value creation 01.01.2025 • Sustainability as a competit
Slide 10: Pan-European retail REIT
Pan-European retail REIT With a selective portfolio Italy France Sweden Belgium 44% 21% 21% 14% 1 I Gigli, Florence 1 Passage du Havre, Paris 1 Hallarna, Halmstad 1 Woluwe Shopping, 2 Carosello, Carugate, Milan 2 Val Thoiry, Greater Geneva 2 Bergvik, Karlstad Brussels 3 Fiordaliso, Rozzano, Milan 3
Slide 11: A leading presence in Italy
A leading presence in Italy A market with strengthening fundamentals Italy’s current government tenure and a stable political index suggest greater consistency amid broader European volatility The primary balance (deficit excluding Unemployment is on a downward trend (~6% as interest payments) was +
Slide 12: A leading presence in Italy
A leading presence in Italy Bond market confidence The narrowing of yield spreads vs Germany, Starting from 2022, spread vs Bund started to and parity with France’s yields, reflect decrease and it is now below 100 bps, approaching reduced perceived risk and investor trust multi-year historic low, re
Slide 13: Strong operational performances across countries
Strong operational performances across countries Long term rental growth 10-year average 3% Low vacancy rate 10-year average 1% 13
Slide 14: Attractive brands
Attractive brands For vibrant destinations • Nearly 300 leasing deals signed in the last 12 months, a strong demonstration of retailer demand across our portfolio • +13.4% uplift vs H1 2024, confirming the momentum of our leasing strategy • Collaboration with leading brands continues to enrich our c
Slide 15: Remerchandising
Remerchandising A successful value creation tool Carosello project is delivering double digit impact on the main KPIs +14.9% Retail sales +22.7% Footfall 15
Slide 16: Remerchandising
Remerchandising A successful value creation tool Strong anchors are magnets for footfall, reinforcing catchment dominance Zara Stradivarius Bershka Carosello's attractiveness towards the Inditex expansions shift customer loyalty east side of Milan has further from competing centres strengthened, whi
Slide 17: Three new projects launched in 2025
Three new projects launched in 2025 Collestrada I Gigli CremonaPO Zara These initiatives reflect our commitment to unlocking the full potential of our assets, ensuring they remain dominant shopping destinations fully aligned with the evolving expectations of visitors and communities and equipped to
Slide 18: Collestrada: a transformational project
Collestrada: a transformational project A complex, multi-phase reshaping plan 5 phases over 30 months Regional dominance Collestrada is the leading shopping destination in Umbria, attracting visitors from across the region and beyond Exclusive anchors Primark and Zara will be the only locations in t
Slide 19: Eurocommercial ESG Framework
Eurocommercial ESG Framework Sustainable and resilient Be Green Be Safe (new pillar) Energy usage: Eurocommercial has established an objective to increase the proportion of renewable electricity used, Health and safety in shopping centres: a specific measured as a percentage of total electricity con
Slide 20: Eurocommercial Environmental Targets
Eurocommercial Environmental Targets CRREM Pathway 2030-2050 (Market-based) • In 2024 we performed CRREM assessments for the whole portfolio to assess the performance of our portfolio against a 1.5°C decarbonisation pathway, incorporating climate change projections based on SCP 4.5 • Scopes 1, 2, an
Slide 21: Eurocommercial Environmental Targets
Eurocommercial Environmental Targets Decarbonisation targets towards 2050 (Market-based) Decarbonisation activities • 100% Renewable energy including tenants • Gas Dismissal and Heat Pumps • Solar Panels • Roof waterproofing, insulation and new skylights • HVAC at the end of life: High- Efficiency S
Slide 22: Digitalisation & Finance
DIGITALISATION & FINANCE Roberto Fraticelli, CFO 22
Slide 23: Digitalisation as value creation
Digitalisation as value creation Shopping centres pivotal in providing integrated services to tenants & visitors, creating value at every interaction Be connected to our visitors Be partners with our retailers Be the workplace where employees thrive via Loyalty Programs and via integration and Autom
Slide 24: Digital Twins using BIM + Data-Enriched Models
Digital Twins using BIM + Data-Enriched Models Maximise Leasing Potential Show prospective tenants interactive, accurate 3D layouts combined with relevant data makes leasing decisions faster and highlights untapped space opportunities Unlock Asset Management Efficiency Providing a single source of t
Slide 25: Healthy asset value growth
Healthy asset value growth Good quality assets and constant improvements We invest in prime, dominant shopping centres with strong catchments and resilient fundamentals. With our proactive management we take care that our assets keep on strengthening, reinforcing their positioning in their catchment
Slide 26: Rigorous financial discipline
Rigorous financial discipline Mortgage loans Our financing structure provides the right flexibility to raise finance secured against individual or groups of assets. It is fiscally efficient and limits the exposure of the company to the market volatility at times experienced by the fixed income marke
Slide 27: Overall hedging ratio target
The Company has an overall hedging ratio target of around 80 % which is achieved through the use of various interest hedging instruments... VARIABLE INTEREST RATE / SWAP Financing ata Issuing a Variable Interest Rate Fixed-Rate Bond using an Interest Rate Swap EUROCOMMERCIAL
Slide 28: How does it work?
How does it work? The loan is usually entered into at a variable interest rate The loans required for our assets are usually between €50 million and €250 million, an interesting size for many banks and lending institutions. Thanks to the good quality of the underlying assets and the corporate guaran
Slide 29: Advantages
Advantages • We can select an interest hedging period which is longer or shorter than the length of the loan, depending on the interest rate curve (i.e. in a particular moment banks might be restricted in their lending for up to 5 years, but the interest rate curve might be very interesting for a 10
Slide 30: Sustainable interest rates
Sustainable interest rates Cash-Flow Hedging Hedging Ratio 100% 9.0% 91% 90% 82% 84% 81% 7.0% 79% 80% 76% 81% 81% 70% 87% 86% 5.0% 3.6% 3.9% 81% 60% 3.1% 81% 3.1% 80% 78% 50% 2.0% 3.0% 79% 3.2% 1.9% 1.9% 2.7% 2.0% 40% 2.1% 2.3% 1.0% 30% -0.2% 20% -0.5% -0.6% -1.0% -0.5% 10% 0% -3.0% Dec-20 Jun-21 De
Slide 31: Refinancings done in 2025
Refinancings done in 2025 Valbo SEK 550 million (circa €50 million) five-year loan with Postbank, a branch of Deutsche Bank. Green Loan Fiordaliso (JV) €200 million (€100 million group share), five-year loan with ING Bank N.V., Milan Branch, BNP Paribas – Succursale Italiana and Banco BPM S.p.A. Gre
Slide 32: Refinancings H2 2026
Refinancings H2 2026 Carosello, I Gigli and C4 Further progress is being made on the refinancing of the loans on the two Italian flagship properties of Carosello and I Gigli and on the extension of a loan maturing on the Swedish shopping centre C4 in Kristianstad. The quality and quantity of financi
Slide 33: Green Financing
Green Financing Support a low carbon economy The Green Finance Framework aims to support the Company’s strategy and its transition towards a low carbon economy Satisfy investors demand for sustainable buildings The framework addresses investors’ willingness to finance sustainable green buildings exi
Slide 34: Our DNA
Our DNA Pan-European Retail REIT Eurocommercial Properties is a publicly listed Real Estate Investment Trust (REIT) focused on high- quality shopping centres across key European markets, including France, Italy, Sweden, and Belgium Resilient Portfolio Performance The company has consistently deliver
Slide 35: Financial Calendar
FINANCIAL CALENDAR 30 October 2025 Third Quarter 2025 results (after closing of Euronext) 5 March 2026 Full year results 2025 35
Slide 36: Disclaimer/forward-looking statements
Disclaimer/forward-looking statements This presentation has been prepared by Eurocommercial Properties N.V. (the “Company”) solely for informational purposes. It does not constitute, nor should it be construed as, an offer to sell or a solicitation of an offer to buy or subscribe for any securities
Slide 37: Thank you!
Thank you! HEAD OFFICE GROUP OFFICES Eurocommercial Properties N.V. Belgium France Italy Sweden De Boelelaan 7 Rue St Lambert 200 107 Rue Saint Lazare Via della Moscova, 3 Kungsgatan 48 1083 HJ Amsterdam 1200 Bruxelles 75009 Paris 20121 Milano 111 35 Stockholm
Eurocommercial Properties — Investor Day (September 2025) on 6ix