Globalworth Real Estate Investments Limited · LSE:GWI
Globalworth Real Estate Investments — FY2025 Earnings Presentation
37 slides from Globalworth Real Estate Investments's earnings presentation, Mar 31, 2026
Slide 1: Globalworth 2025 Annual Results Presentation
GLOBALWORTH A LEADING CEE OFFICE LANDLORD 2025 ANNUAL RESULTS PRESENTATION
Slide 2: Overview
OVERVIEW The page numbering is dependent on the placeholder “CLICK TO..” text boxes on the page layout in the master view, so please DO NOT remove them Globalworth Tower, Bucharest, Romania 1
Slide 3: Globalworth Snapshot as of 2025YE
GLOBALWORTH SNAPSHOT AS OF 2025YE Snapshot Portfolio Select metrics Operating figures: ▪ Leading real estate Investor with a primary focus on ▪ Present in 9 of the largest and most liquid sub- Poland and Romania markets in Poland and Romania €2.6bn 57 ▪ We acquire, develop and manage commercial real
Slide 4: Our Business Model
OUR BUSINESS MODEL Our Resources & Proven Investment Our Core Creating Sustainable Long- Relationships Model Activities term Value Skilled Team Locations 9 Financial Cities Invest in real estate opportunities Prime locations in fast- In-house team of Generate long-term sustainable growing regions of
Slide 5: Our Story After 2021
OUR STORY AFTER 2021 Portfolio Value (€m) and Footprint (k sqm) Total Contracted Rent (€m) and Average Office Rent 300 (€/sqm/mth) 20.0 3,500 250 19.0 3,000 2,622 190 18.0 2,500 200 17.0 2,000 16.0 Industrial Sale 150 High 16.0 1,500 1,051 100 inflation +13% vs. 15.0 1,000 2021 50 14.0 500 Value Com
Slide 6: Focused on Operational Excellence & Sustainable Growth
FOCUSED ON OPERATIONAL EXCELLENCE & SUSTAINABLE GROWTH Effectively Asset Preserved and/or Flexible Capital Resilient Investment and Property Managing Protected Operational Structure Operating Performance in Sustainable our Real Estate Efficiency Environment & Communities • During 2025 we signed • Mo
Slide 7: 2025 Operating Performance Update
2025 OPERATING PERFORMANCE UPDATE 66 Renoma, Wroclaw
Slide 8: Standing Portfolio
STANDING PORTFOLIO ▪ 33 investments with 57 standing properties offering c. 1.1m sqm ‒ During the year, our standing portfolio’s total Standing GLA1 (k sqm) LfL Standing GAV 2 (€ m) LfL Contracted Rent 2 (€ m) GLA increased with 44.1k sqm or 4.4% following the re-addition of Renoma to our standing p
Slide 9: Leasing Review
LEASING REVIEW • Leasing transactions of 141.1k sqm were taken up or Leasing Activity (k sqm) extended in 2025 ‒ 64.3% of leasing involving renewals, take-up accounting for the difference Leasing Activity by Type (k sqm) Leasing Activity by Country (k sqm) 4.4 yrs ‒ Average WALL of 4.8 years Take-up
Slide 10: Asset Management / Sustainable Rental Income
ASSET MANAGEMENT / SUSTAINABLE RENTAL INCOME Total contracted rent of €189.5m as of Commercial rent: lease expiration profile (€m) Total rent by commencement period (€m) Dec’25 ▪ 97.9% from active leases 2.9 1.1 35% ▪ 1.5% leases in standing portfolio - commencing in the future 16% 16% ▪ 0.6% pre-le
Slide 11: Growth and Developments
GROWTH AND DEVELOPMENTS Property Under Development Green Court D Location Bucharest New CBD Green Court D: our first office development since Covid Expected Delivery Q3 2027E • Part of our wider Green Court Complex, located in one of Bucharest’s GLA – on Completion (k sqm) 17.2 most vibrant areas, w
Slide 12: Green Court D: New Development Moving Forward
GREEN COURT D: NEW DEVELOPMENT MOVING FORWARD Our first office development since the pandemic, 61.8% pre-leased to leading companies in CEE as of February 2026 Efficient Floor Plate - optimizing daylight access and ensuring balanced 1 natural light Design / Architecture - Modern common areas with a
Slide 13: Our Portfolio Snapshot
OUR PORTFOLIO SNAPSHOT 1212 Skylight and Lumen, Warsaw
Slide 14: Combined Portfolio Snapshot
COMBINED* PORTFOLIO SNAPSHOT Globalworth Poland Globalworth Romania Globalworth Group As of December 31st , 2025 Standing Investments(1) 19 Warsaw, 7 Regional, 12 14 Office, 12 Others**, 2 33 Office & Mixed Use, 31 Others, 2 Standing GLA k (sqm)(2) 578.3 172.4 405.9 479.8 461.6 18.2 1,058.1 … 18.2 C
Slide 15: Class A Modern Portfolio in Prime CBD Locations and Select Regional Hubs
CLASS A MODERN PORTFOLIO IN PRIME CBD LOCATIONS AND SELECT REGIONAL HUBS … Standing Portfolio as of December 2025: >€2.5bn with c. 1.1m sqm GLA in Poland Standing Modern Portfolio as of 31 December 2025: and Romania and more than 98% Green Certified Breakdown by Year of Last Refurbishment (€m) 4 Yea
Slide 16: Leased to International Blue-Chip Tenants with Strong Defensive Leases
… LEASED TO INTERNATIONAL BLUE-CHIP TENANTS WITH STRONG DEFENSIVE LEASES Diversified base of tenants with 71.7% of contracted rent from multinationals and high dispersion with the largest tenant being 3.5% of contracted rent Romania Poland Group ▪ Globalworth's multi-tenant / campus leasing model re
Slide 17: Best in Class & Mix-Use Portfolio in Poland
BEST IN CLASS & MIX-USE PORTFOLIO IN POLAND… Warsaw GAV €604.6m Standing Properties 12 Gdansk Standing GLA 172.4k sqm Standing Occupancy 90.3% Standing Contracted Rent: €42.0m Standing 100% Potential Rent €45.9m WARSAW Regional Poland 57.1% of our Polish portfolio by value is in 5 regional cities Lo
Slide 18: Best in Class Portfolio in Romania
…AND BEST IN CLASS PORTFOLIO IN ROMANIA Bucharest NEW CBD GAV €906.4m Standing Properties 13 Standing GLA 355.7k sqm Unicredit HQ NEW CBD Standing Occupancy 94.1% Standing Contracted Rent €67.2m TCI Standing 100% Potential Rent €70.9m RBC GLA under development 17.2k sqm City Offices ERV of Developme
Slide 19: 2025 Capital Markets Performance
2025 CAPITAL MARKETS PERFORMANCE 1818 Globalworth Campus C, Bucharest
Slide 20: Capital Markets: Equity Performance
CAPITAL MARKETS: EQUITY PERFORMANCE No significant change in shareholder structure since 2021; Share price mainly impacted by limited free float and trading • During last year, the CEE real estate capital market has witnessed a Shareholding Structure as of 31 December 2025 significant stabilization
Slide 21: Capital Markets: Bond Performance
CAPITAL MARKETS: BOND PERFORMANCE Further deleveraged by redeeming, during Jan-Feb’26, €125m from the short-dated notes (i.e. 2029), anticipating a positive impact on our financing costs 2025 Eurobond Perfomance • Following the bond refinancing back in 2024 and 6.8% subsequent redemption and buyback
Slide 22: Financial Results Presentation
FINANCIAL RESULTS PRESENTATION 2121 BOC, Bucharest
Slide 23: Financial Highlights 2025
FINANCIAL HIGHLIGHTS 2025 2.1% like for like rental income growth on standing properties ▪ Consolidated Revenue of €236.3m for FY-25, down by 0.8% Portfolio Value1 Rental Income Like-for-like NOI Like-for-like €2.62bn €150.0m €138.6m ▪ Like-for-like basis our rental income increased with Vs 2024YE:
Slide 24: Financial Highlights: 2025 Earnings – Key Drivers vs 2024
FINANCIAL HIGHLIGHTS: 2025 Earnings – Key Drivers vs 2024 Profit improved to €9.6m in 2025 from a loss of €81.6m in 2024, driven by substantially lower property revaluation losses and the absence of loss on disposal of properties All amounts in €'m Actual Actual ∆ Description 2025 2024 €'m % ✓ Total
Slide 25: Financial Highlights: Condensed Balance Sheet
FINANCIAL HIGHLIGHTS: CONDENSED BALANCE SHEET Strong liquidity with a cash balance at €410.6m covering roughly one-third of the outstanding €1.3 bn debt Actual Actual Change ✓ Investment property freehold, an increase of 0.8% (or (figures in €m) 2025 2024 ∆'m % €20.7m) versus December 2024. Investme
Slide 26: Financial Highlights: Condensed Cash Flow
FINANCIAL HIGHLIGHTS: CONDENSED CASH FLOW Shift to positive free cash flow of €12.8m, compared with a negative net free cash flow of €4.2m in 2024, supporting an improved liquidity profile. Cash balance increased by €77.9m, reaching €410.6m on 31 December 2025. Actual Actual Change ➢ Operating activ
Slide 27: EPRA NRV and Earning Metrics
EPRA NRV AND EARNING METRICS ▪ The EPRA Net Reinstatement Value (“NRV”) reflects the EPRA NRV per Share (€) estimated long-term value of a company’s net assets, assuming the company keeps its properties and doesn’t sell them. Total (€m ) Per share (€) ▪ EPRA NRV reached €1,631.5 million at year ende
Slide 28: Financing Overview Dec'25
FINANCING OVERVIEW DEC’25 Debt Maturity Profile – Dec 25 Proforma* ▪ LTV 37.0% (2024: 38.1%) and WACoD is 4.81% (2024: 4.87%) ▪ Secured LTV 23.0% (2024: 23.0%) and WACoD is 3.99% (2024: Debt Repayment (€m) Key Balance 4.03%) Sheet 600.0 ▪ 43% unsecured financing Metrics ▪ 91.4% of total debt is fixe
Slide 29: Sustainable Development Update
SUSTAINABLE DEVELOPMENT UPDATE 2828 Globalworth @ Untold Festival Cluj-Napoca
Slide 30: Commitment to Highest Standards of Sustainable Development
COMMITMENT TO HIGHEST STANDARDS OF SUSTAINABLE DEVELOPMENT • Virtually our entire commercial portfolio is green certified Green Certifications of Standing Portfolio and Year of Last Refurbishment Acquisition of ESG-related certifications (31 Dec 2025) (€ GAV) ▪ 11 properties were recertified with BR
Slide 31: Sustainable Development Update: People
SUSTAINABLE DEVELOPMENT UPDATE: PEOPLE 2025 – Globalworth Foundation ▪ We view our role as increasingly responsible towards the people that work at and visit our properties, as well as towards the wider community of which we consider ourselves to be an integral part ▪ We own >1.3m sqm of high-qualit
Slide 32: Additional Information
ADDITIONAL INFORMATION 3131 Silesia Star, Katowice 31
Slide 33: Combined Standing Portfolio Snapshot by Location and Type (Dec 2025)
COMBINED STANDING PORTFOLIO SNAPSHOT BY LOCATION AND TYPE (DEC 2025) Number of Value Area Occupancy Rate Rent Contracted Headline Rent / Sqm or Unit Investments Properties GAV GLA by GLA Contracted WALL 100% Rent Office Commercial Industrial (#) (#) (€m) (k sqm) (%) Rent (€m) Years (€m) (€/sqm/m) (€
Slide 34: Portfolio Yields as of Dec. 2025 (Including EPRA)
PORTFOLIO YIELDS AS OF DEC. 2025 (INCLUDING EPRA) 100% Rent Yield EPRA NIY and ‘topped-up’ NIY Poland Romania Portfolio Poland Romania Portfolio €m €m €m €m €m €m Combined Property Portfolio 1,410.9 1,211.1 2,622.0 Investment property – wholly owned 1,410.9 1,203.2 2,614.1 Less: Residential Investme
Slide 35: Portfolio Vacancy as of Dec. 2025 (Including EPRA)
PORTFOLIO VACANCY AS OF DEC. 2025 (INCLUDING EPRA) Globalworth Vacancy Rate - Sqm EPRA Vacancy Rate - Income Poland Romania Portfolio Poland Romania Portfolio Available Standing Commercial GLA (k (A) 127.2 26.6 153.8 Estimated Rental Value of vacant space (A) 23.1 5.5 28.6 sqm) Estimated rental valu
Slide 36: Disclaimer
DISCLAIMER This presentation is published solely for information purposes, and it may not be reproduced or redistributed or republished, in whole or in part, for any purpose by any person other than Globalworth Real Estate Investments Limited (the “Company”) . By accessing this presentation, you are
Slide 37: For more information, please see www.globalworth.com
For more information, please see www.globalworth.com 3636 36
Globalworth Real Estate Investments — FY2025 Earnings Presentation on 6ix