Wereldhave Belgium Sca · EURONEXT:WEHB
Wereldhave Belgium Sca — Wereldhave Belgium — Investor Presentation (2022)
51 slides from Wereldhave Belgium Sca's investor presentation, 2022
Slide 1: Wereldhave Belgium Corporate Presentation 2022
Wereldhave Belgium Corporate Presentation 2022 Wereldhave ea
Slide 2: Agenda
Retail market at a glance Portfolio overview Strategy Development overview ESG goals Operational results Financial results
Slide 3: Wereldhave Belgium introduction
01. Wereldhave Belgium introduction > Company founded in 1972 and listed on Euronext Brussels since 1998 > Focused on investment in Retail Real Estate in Belgium & Luxemburg (Shopping Centres and Retail Parks) > Holds a total real estate portfolio of €924.8 Mio as of 30 June 2022 > Status of a Belgi
Slide 4: Belgian REIT since 1998
01. Wereldhave Belgium introduction Belgian REIT since 1998 > Company specialized in Real Estate investment > Favourable tax status > Conditions > Porfolio diversification: < 20% per single asset/tenant > Loan-to-Value: < 65% > Pay-out: > 80% of net proceeds Wereldhave BELGIUM
Slide 5: Market capitalisation per 30 June 2022
01. Wereldhave Belgium introduction Market capitalisation per 30 June 2022 | 33.84% Free float MB 66.16% Wereldhave NV. Wereldhave BELGIUM
Slide 6: Organisation structure
CFO Owner & Investor Asset Management (re)Development incl. marketing & COO operations CEO Mall Management Leasing incl. building maintenance & services Note: this is a demonstrative overview of the 6 structure at Wereldhave Belgium
Slide 7: Core values
01. Wereldhave Belgium introduction Core values 7 Wereldhave BELGIUM
Slide 8: Agenda
Wereldhave Belgium introduction Portfolio overview Strategy Development overview ESG goals Operational results Financial results
Slide 9: Retail Market at a glance
02. Retail Market at a glance Take-up retail 2015 — HY 2022 Very strong take-up in Q1 & Q2 2022 68% of Retailers declare to be in expansion (survey: Cushman & Wakefield 2021) Source: “The Belgian Retail Landscape” Cushman & Wakefield August 2022 Wereldhave BELGIUM
Slide 10: Take-up by segment
Take-up by segment 400 350 Take-up in Shoppingcentres restoring 300 250 200 150 100 50 fe) 2015 2016 2017 2018 2019 2020 20. wOut-of-Town High Street mShopping Centre Source: “The Belgian Retail Landscape” Cushman & Wakefield August 2022 10 Wereldhave BELGIUM
Slide 11: Prime rents by segment
02. Retail Market at a glance Prime rents by segment (Eur/m?/year) a eon Steet ees Source: “The Belgian Retail Landscape” Cushman & Wakefield August 2022 190 150 € 1,550/m?/year High Street € 1,150/m?/year Shopping Centers € 155/m?/year Out of Town retail Wereldhave BELGIUM
Slide 12: Adaptability is key in making every day count
02. Retail Market at a glance Adaptability is key in making every day count Retail > Growth of online retail demanding structural changes > Rethinking the retail landscape and strategies Data & Technology > Importance of ‘phygital area, omnichannel strategy by retailers > Increasing need of experime
Slide 13: Agenda
Wereldhave Belgium introduction Retail market at a glance Strategy Development overview ESG goals Operational results Financial results
Slide 14: Portfolio overview
03. Portfolio overview Wereldhave Belgium per 30 June 2022 Number of Shopping Centers 5 Total size 146,900 Number of tenants 433 Occupancy rate 96.41 Number of Retail Parks 5 Total size 57,394 Number of tenants 54 Occupancy rate 97.85 Number of Office Parks 2 Total size 60,500 Number of tenants 46 O
Slide 15: Shopping Centers
03. Portfolio overview Shopping Centers Ring Kortrijk Shopping 1 Stadsplein Genk Opening / renovation 1973 / 2021 Opening / renovation 1968 / 2014 Opening / renovation 2007 GLA 31,900m? GLA 27,600m? GLA 15,500m? # tenants 83 # tenants 101 # tenants 25 # parking 2,000 # parking 1,250 # parking 44 Anc
Slide 16: Shopping Centers
03. Portfolio overview Shopping Centers Belle-ile Nivelles Bastions Opening / renovation 1994 / 2021 Opening / renovation 1974 / 2012 Opening / renovation 1979 / 2018 GLA 30,300m? GLA 29,200m? GLA 34,100m? # tenants 100 # tenants 100 # tenants 92 # parking 2,200 # parking 1,452 # parking 2,000 Decat
Slide 17: Retail Parks
Retail Parks Turnhout Opening 1979 19,804m? 12 GLA #tenants 17 Waterloo Opening 1968 3,347m? " GLA #tenants Retallpark Bastions Opening 2016 10,300m? 10 GLA #tenants Gent Opening 2015, 3,600m? 7 GLA #tenants: Brugge Opening 1970 20,343m? 13 GLA #tenants Wereldhave BELGIUM
Slide 18: Office Parks
03. Portfolio overview Office Parks The Sage —Vilvoorde an a THE SAGE The Sage - Antwerp Opening / renovation 2000 / 2021 GLA 22,100m? # tenants 12 # parking 639 18 Opening / renovation 2000 / 2021 GLA 38,400m? # tenants 34 # parking 769 Wereldhave BELGIUM
Slide 19: Agenda
Wereldhave Belgium introduction Retail market at a glance Portfolio overview Development overview ESG goals Operational results Financial results
Slide 20: Making every day count
04. Strategy Making every day count Transformation > Embrace challenging market trends * E-commerce * Growing out of home spending > Focus on customer needs Optimalisation > Owning and managing assets: steady value of portfolio Combining head office and local teams in continuous teamwork > Size of p
Slide 21: Fixing the basics, Enjoyment, Self Expression, Wellbeing
Fixing the basics Enjoyment Self Expression Wellbeing 21
Slide 22: Wereldhave
Wereldhave BELGIUM
Slide 23: Full Service Centers
04. Strategy Full Service Centers * Beating heart of environment * Commercial mix to fulfill all needs * Qualitative services * Integrating mixed-use concepts 23 Direct vicinity of FSC oO Residential Full Service Centers for better everyday life Broader area surrounding FSC Wereldhave BELGIUM
Slide 24: Full Service Center tenant mix
→ Traditional Retail F&B and Entertainment Fitness & Healthcare Right-size (Fixing the Basics & (Self) Expression) (Enjoying Life) (Well-being) (e.g. offices or residential) 24
Slide 25: Story telling, people & culture, creating value
Story telling People & culture Creating value Customer insights Services
Slide 26: Agenda
Wereldhave Belgium introduction Retail market at a glance Portfolio overview Strategy ESG goals Operational results Financial results
Slide 27: Development overview
05. Development overview Retailpark - The Sage - Brugge Antwerp Belle-ile - Liége Ring - Kortrijk Shopping Nivelles - Nivelles Retailpark - Waterloo The Sage - Vilvoorde Ring — Kortrijk Restore the retail balance by adding a balanced mix of other uses like a fresh food area & an exterior F&B zone. S
Slide 28: Ring Kortrijk redevelopment
New Logo Facade Integrating Fresh food area More F&B activities Creating extra terraces Wereldhave BELGIUM
Slide 29: New name & branding
° New name & branding ° Renovation of buildings - Integrating sustainable materials - Creating a safe, pleasant and green environment Start: Q3 2022 29 Wereldhave REIGIUIM
Slide 30: Branding, entrances, services
• Branding • Entrances • Services - The Eatery - Ironing service - Fitness - Electric charging • Green • Meeting Rooms • Entrances 30
Slide 31: Development overview: Shopping Centers
05. Development overview: Shopping Centers * Creating an extension of 11,000m? ¢ Adding an outdoor sport course ¢ Integrating more outside terraces * Open views on the water * Maximizing connection with nearby offices Full Service Center transformation > 40% retail > 20% F&B > 40% leisure, sports an
Slide 32: emt
ia Ww emt aaa
Slide 33: Mixed-use concept
33 Mixed-use concept Creating an extension to increase multifunctionality Exact scope to be determined with munici Offices OR/AND Residential OR/AND Leisure Weleldhave REIGIUIM
Slide 34: Futureproof redevelopment
34 Futureproof redevelopment Mixed-use concept - Retail - Residential - Parking
Slide 35: Agenda
Wereldhave Belgium introduction Retail market at a glance Portfolio overview Strategy Development overview Operational results Financial results
Slide 36: ESG goals
06. ESG goals Where we fulfil our everyday life needs should be a healthy place. A place that is good for a better everyday life for our customers and the environment. O © 36 ' Wereldhave BELGIUM
Slide 37: Clear and ambitious ESG Strategy
06 ESG goals Clear and ambitious ESG Strategy SDG Area Sub-area Ambition 2030 Energy & Carbon Reduce carbon emissions 30% by 2030 (scope 1+2) Better Footprint FWEiEIS Zero waste to landfill and use circular solutions (scope 3) Value chain impact Partner with tenants and visitors to reduce carbon and
Slide 38: On company level
38 On company level ie) CSR awareness and fantastic VUVUUV VY & n a personal level KPI’s integrated for each employee leading to poy 9 DECENT WORK AND are ECONOMIC GROWTH initiatives Certificates (BREEAM) Partnerships Recycling Eco-days Sustainable pop-ups Sustainable actions 13 17 CLIMATE ACTION PA
Slide 39: Wereldhave
Wereldhave BELGIUM
Slide 40: Agenda
Wereldhave Belgium introduction Retail market at a glance Portfolio overview Strategy Development overview ESG goals Financial results
Slide 41: Leasing activity HY 2022
07. Operational results Leasing activity HY 2022 Solid activity above ERV (+11%) 57 deals (HY 2022) -_ 31 new leases 26 renewals Occupancy rates Re Offices) 97.0% 41 BELGIUM
Slide 42: Traffic
07. Operational results Traffic 42 > Number of visitors HY 2022 > > - 5.2% compared to 2019 + 21.5% compared to 2021 > Outperforming in comparison to the market > - 7.8% compared to 2019 (market) 100000 ° BE - Footfall 2019, 2021 & H1 2022 : 5 Shoppings cumulated ii hl | 12 3.4 5 6 7 B 9 10111213144
Slide 43: Tenant sales by category
40,00% 37,38% Fashion & Accessories 30,00% Hairdressers 23,87% Food & Beverage Food mainstream 20,00% Health & Beauty 15,80% 15,85% Healthcare 10,80% 9,54% Homeware & Household 10,00% 8,23% 5,43% Multimedia & electronics 0,93% Services 0,00% Shoes & leatherware -1,67% Special goods -4,95% Sport -10,
Slide 44: Agenda
Wereldhave Belgium introduction Retail market at a glance Portfolio overview Strategy Development overview ESG goals Operational results
Slide 45: Key figures
08. Financial results HY 2022 Key figures 2019 2020 Change HY HY 2022 Soot Real Estate Portfolio oe Mio) EPRA A Occupancy R Rate Net Asset Value (€ Mio) Financial Debts is (€ Mio) EPRA NAV per share 961.3 95.2% 689.2 273.0 921.2 263.0 91.9% 650.6 939 +13 93.9% 0% 679.2 +83 264.4 + 14.3 LTV . 45 30.0
Slide 46: Financial charts 2018-2022
→ 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 46
Slide 47: Profit and Loss Account
08. Financial results Profit and Loss Account 2018 2019 2020 2021 HY 2022 Gross Rental Income (€ mio) 5. 59. 56.5 54.9 28 Direct Result (€ mio) 40.7 45.6 36.7 sivcct wosult por Shave o a wos Ss _ Ss tes . ns sivect Result (e wo) So oo Ss ‘ey Ss ces Indirect result per Share (€) -0.03 -216 -7.47 -0.0
Slide 48: Debt Mix June 2022
Debt Mix 30 June 2022 HY 2022 Bank loans 12% 47% € 264mio 35% 6% 48
Slide 49: Outlook 2022
08. Financial results HY 2022 Outlook 2022 Renovation & further Implementation of our Full Service Centre Strategy ESG improvements External Growth Offer an increasing dividend EPS indication of 4,75 — 4,85 per share Investing in Wereldhave BELGIUM
Slide 50: make every day count
make every day count
Slide 51: Questions?
Questions? 51