Slide 1: CTP N.V. 2021 Full Year Results
CTP N.V. 2021 Full Year Results A year of delivery, surpassing IPO expectations 9 March 2022 1
Slide 2: Agenda and Team
Agenda and Team 1. Update Ukraine 2. Delivering IPO targets 3. Portfolio Remon Vos, Richard Wilkinson, 4. 2021: year of strategic delivery CEO CFO 5. Strong financial results 6. Outlook 7. Q&A Barbara Knoflach, Jan-Evert Post, Chair Head of Funding & IR 2
Slide 3: Update Ukraine
Update Ukraine What we know today: What we believe for the near term: Overall limited impact High level of uncertainty, inflationary No assets in Ukraine or Russia pressures Close contact with key tenants Structural sector drivers expected to continue Limited disruption to supplies/raw m
Slide 4: IPO targets exceeded: Diligent execution of strategy in 2021
IPO targets exceeded: Diligent execution of strategy in 2021 IPO Target Actual Yield on Cost Target 10% + 11.3%1 Owned GLA by end of 2021 >7.1m sqm >7.6m sqm 10m sqm owned GLA by end of 2023 by end of 20223 Stable Occupancy 95% 95% Impact from COVID-19 No material impact Rent collection 98
Slide 5: 2021 a year of strengthening CTP: Setting the scene for further growth
2021 a year of strengthening CTP: Setting the scene for further growth Enhancing the Group’s ESG profile CARBON NEGATIVE ESG Building the depth and breadth of CTP Team 520 EMPLOYEES Growing leading market share in core 27.5% MARKET SHARE markets Accelerating growth with disciplined asset 835
Slide 6: CEE's Largest Industrial and Logistics Investment Portfolio
CEE’s Largest Industrial and Logistics Investment Portfolio Snapshot 31 December 2021 Our portfolio Our clients Our market 6 6
Slide 7: Our portfolio: A high-quality, resilient and stable foundation for growth
Our portfolio: A high-quality, resilient and stable foundation for growth Sizable and growing investment industrial & logistics platform OWNED DIVERSIFIED EPRA TOPPED INVESTMENT CLIENTS UP NIY PORTFOLIO (YE2020: (700) (6.2%) 7.6m sqm >750 5.6% 5.9m sqm) WELL LOCATED EUROPEAN RENT ROLL PARKS MARKETS
Slide 8: Our clients: Partnerships that deliver robust and growing income streams
Our clients: Partnerships that deliver robust and TOP FIVE CLIENTS BY GLA growing income streams TENANT LOCATIONS PARKS GLA THS SQM Top 20 clients provide 24% of annual rent roll 1 Yangfeng 8 3 149 50% of our Top 20 clients occupy assets in multiple 2 DHL 13 9 144 CTParks 3 Quehenberger 11 5 136
Slide 9: Our market: Excellent fundamentals in markets
Our market: Excellent fundamentals in markets SK • Centrally located, well-developed highway CZ and rail system. Highway connects western and eastern part of Slovakia • Crucial gateway between • Population has high education levels CEE and Western Europe • High FDI activity and strong domestic • Att
Slide 10: 2021: A year of strategic delivery
2021: A year of strategic delivery Tenant led development programme Strategic asset acquisitions Accelerated landbank acquisitions Sustainability and innovation 10
Slide 11: Tenant led development programme
Tenant led development programme: Delivering further scale and attractive capital growth Accelerated growth with 900k sqm GLA development deliveries, up 53% on 2020 Average Yield on Cost of 11.3% DEVELOPMENT DELIVERIES BY COUNTRY IN 2021 98% of 2021 completed developments let, (GLA in thousand
Slide 12: Strategic asset acquisitions
Strategic asset acquisitions: Entering new markets and adding scale to existing ones €554 million of asset acquisitions totalling 835k sqm GLA to expand existing parks or start new ones Average NIY of 7.1% (versus portfolio yield of 6.4%) Off-market and accretive to CTP’s existing investment p
Slide 13: Accelerated landbank acquisitions
Accelerated landbank acquisitions: Replenishing and growing development capacity €193 million invested increasing landbank by 42% Notable examples: (2020: €13 million) 27.5 hectares at CTPark Belgrade Centre, to become 87% situated adjacent to our existing or new parks Serbia’s largest logis
Slide 14: Covering markets from the Black Sea to the North Sea
Covering markets from the Black Sea to the North Sea CTPark Amsterdam Logistics Centre CTP Germany Strategy: Strategy: Develop and lease a unique XXL multi-layer Reduce vacancy complex with 120,000 sqm critical last mile Improve rent levels space Realise development opportunities Capture value f
Slide 15: Sustainability and innovation: At the core of what we do
Sustainability and innovation: At the core of what we do Ranked top 1.5% companies with “Low Risk” Targeting one-for-one square meter of forest- for-property portfolio: score by Sustainalytics Inc. FORESTS TREES Carbon negative footprint for Scope I and ACQUIRED PLANTED II SCS Global Services co
Slide 16: 2021 Strong Financial Results
2021 Strong Financial Results 16 161 6
Slide 17: Key financials
Key financials YTD to YTD to 3 months 3 months % % 31 Dec 31 Dec to 31 Dec to 31 Dec increase Increase 2021 2020 2021 2020 Net rental income €326.9m €280.7m 16% €87.0m €76.8m 13% Net valuation result on investment €1,100.6m €152.2m 623% €835.3m €63.6 1,213% property (1 Profit for the period €1,025.9
Slide 18: Core markets were drivers of performance
Core markets were drivers of performance: Czech Republic delivered >60% of income/profit Core Markets Expansion Markets New Markets RENTAL INCOME FOR THE PERIOD PROFIT FOR THE PERIOD (by market) (by market) 4% 2% 7% 9% 11% 19% 18 13% 9% 61% 66% Czechia Hungary Romania Slovakia Other 18
Slide 19: Strong revaluation gain: €1.1bn at a conservative valuation yield of 6.4%
Strong revaluation gain: €1.1bn at a conservative valuation yield of 6.4% REVALUATION INCOME SPLIT INVESTMENT PROPERTY VALUE (€M) (in EURm) 8,000 More than 50% 7,573 7,500 7,000 6,500 6,000 5,384 5,500 5,000 4,500 GLA LAND 31December Like-for-like Development Landbank Yield Acquisitions 31 December
Slide 20: Significantly strengthened capital structure
Significantly strengthened capital structure: Solid liquidity profile with lowest absolute cost of debt in sector CONSERVATIVE RESIDUAL MATURITY OF DEBT (€ million due in following COST OF DEBT years) 1,229 1,200 End of Year 3.00% 1,065 1,045 2.50% 1,000 2.50% 2.10% 2.00% 800 761 2.00% 1.571% 592 60
Slide 21: What we promised at IPO and beyond
What we promised at IPO and beyond Delivering highly competitive mid double-digit annual total return profile Base Case Drivers Additional Upsides IPO: March 2021 IPO IPO IPO IPO IPO Income producing Contractual indexation 1 MM sqm GLA under Low funding cost and 300 bps prime logistics U
Slide 22: Delivering what we promised at IPO and beyond
Delivering what we promised at IPO and beyond Delivering highly competitive mid double-digit annual total return profile: 47% Total Annual Return 2021 Base Case Drivers Additional Upsides 2021 2021 2021 Yield Compression: Deliveries: 900,000 ≈0.5% Entered NL and 2021 2021 2021 sqm Yield Diff
Slide 23: Current Outlook
Current Outlook 2323
Slide 24: Outlook as at March 2022
Outlook as at March 2022: Expect to continue to benefit from supportive market 2022 GUIDANCE conditions (in million m2 GLA) Mitigate inflation impact by higher rents Continue to deliver robust and predictable income streams Well positioned to continue to serve occupier growth: Expanded Eur
Slide 25: Appendix
Appendix 25
Slide 26: Profitable Growth
Profitable Growth YTD 2021 YTD 2020 €m €m Income Statement Net rental income 326.9 280.7 Summary Audited Consolidated Profit & Loss Statement for the Period ended 31 December Net income from development activities 9.4 22.4 2021 Net operating income from hotel operations (2.6) (0.1) Total revenues 40
Slide 27: Solid Financial Position
Solid Financial Position FY 2021 FY 2020 €m €m Assets Balance Sheet Investment property 7,575.1 5,386.2 Summary Audited Consolidated Investment property under development 774.2 387.3 Balance Sheet per 31 December Property, plant and equipment 111.0 98.9 2021 Other 174.6 71.3 Total non-current assets
Slide 28: Continental Europe's largest owner, developer and manager of industrial and logistics real estate
Continental Europe’s largest owner, developer and manager of high-quality industrial and logistics real estate by GLA Core Markets Expansion Markets New Markets GROSS ASSET VALUE LAND BANK (by market) (by country) -1% 2% 2% 1% 9% 5% 6% 11% 36% 9% 11% 28 13% 66% 13% 17% Czechia Romania Slovakia Hunga
Slide 29: Top Ten Parks: Strategic Focus on Large Multi-Use Logistics Parks 2021
Top Ten Parks: Strategic Focus on Large Multi-Use Logistics Parks 2021 Showed 14% GLA growth totalling 3.6m sqm, across nine of Top 10 parks Rank Park GLA 2020 GLA 2021 Share of GLA Under Adjacent Wault Occupancy Total (IN THOUSAND (IN THOUSAND (%) construction landbank (yrs) (%) properties M2) M2)
Slide 30: Strategic Acquisitions of Income-Producing Assets
APPENDICES Strategic Acquisitions of Income-Producing Assets Country Location GLA rounded Acquisition yield 1 RO Timisoara 14,800 7.9% TOTAL INVESTED 2 HU Szombathely 26,400 7.4% €554 m 3 SK Žilina 24,000 6.9% 4 HU Budapest 13,100 8.0% 5 BG Plovdiv 11,600 9.2% 6 CZ Liberec 19,600 6.4% 7 BG Sofia 35,
Slide 31: Investment portfolio and landbank by country
Investment portfolio and landbank by country Investment properties Landbank value in € million 2021 2020 2021 2020 value in € million Czech Republic 4,517 59.6% 3,544 65.8% Czech Republic 189 169 Romania 1,327 17.5% 944 17.5% Romania 90 65 Hungary 758 10.0% 372 6.9% Hungary 57 14 Slovakia 596 7.9% 3
Slide 32: Key financials
Key financials YTD to YTD to 3 months 3 months % % 31 Dec 31 Dec to 31 Dec to 31 Dec increase Increase 2021 2020 2021 2020 Net rental income €326.9m €280.7m 16% €87.0m €76.8m 13% Net valuation result on investment €1,100.6m €152.2m 623% €835.3m €63.6 1,213% property (1 Profit for the period €1,025.9
Slide 33: Financial Calendar 2022
Financial Calendar 2022 Action Date Publication 2021 Annual Report 9.Mar.22 Annual General Meeting 26.Apr.22 Payment full-year dividend [ May/ June 2022] TO BE APPROVED BY THE AGM Publication 2022 First Quarter Results 18.May.22 Publication 2022 Half-Year Results 1 10.Aug.22 Publication 2022 Third Q
Slide 34: EPRA Earnings Metric
EPRA EPRA Earnings (amounts in € million) 2021 2020 Earnings Metric Earnings per IFRS income statement 1,025.94 252.12 Adjustments to calculate EPRA Earnings, exclude: Changes in value of investment properties, development properties held for (i) 1,100.57 152.16 investment and other interests Profit
Slide 35: EPRA Yield Metric
EPRA Yield Metric EPRA NIY and 'topped-up' NIY (amounts in € million) Dec-21 Dec-20 Investment property – wholly owned 7.82 5.45 Investment property – share of JVs/Funds - - Trading property (including share of JVs) - - Less: developments 0.77 0.39 Completed property portfolio 7.05 5.06 TOPPED UP NE
Slide 36: EPRA NTA Metric
EPRA EPRA NTA EPRA NTA NTA Metric (amounts in € million) December 2021 December 2020 IFRS Equity attributable to shareholders 4.11 2.26 Include / Exclude*: i) Hybrid instruments Diluted NAV 4.11 2.26 Include*: ii.a) Revaluation of IP (if IAS 40 cost option is used) ii.b) Revaluation of IPUC1 (if IAS
Slide 37: Occupiers by GLA
Occupiers by GLA GLA Rank Tenant Buildings Parks Change Rank in 2020 (IN THOUSAND M2) 1 Yanfeng 8 3 40 + 41 149 2 DHL 13 9 -1 - 1 144 3 Quehenberger 11 5 -1 - 2 136 4 Loxxess 2 1 28 + 32 113 5 DSV 8 4 -2 - 3 111 6 DeliHome 20 1 n/a / New in '21 104 7 Primark 1 1 4 + 11 93 8 Raben 12 12 6 + 14 93 9 F
Slide 38: Five Property Types
WE BUILD SPACE Five Property Types (from 2016, Thermo Fisher Scientific) Community 38
Slide 39: CTP Sustainability: Carbon Negative Operations
CTP SUSTAINABILITY CARBON NEGATIVE O PE RAT IO N S 2021 5.6 million kWh Energy Generation 39
Slide 40: Gaining market share in Core Markets
Gaining market share in Core Markets: Capturing strengthening occupier demand OWNERSHIP SHARE: CTP increased overall GLA market share in each of last Leasing In-Place five quarters Take-Up GLA Share (%) Share Q4 2021 42.8% 27.5% SHARE OF TAKE- MARKET SHARE UP Qtr 4, 2021 2021 (2020: (23.9% Q3 2021 2
Slide 41: GLA and landbank growth
GLA and landbank growth we developed 900,000 sqm during 2021 Runway secured to grow the portfolio GLA DEVELOPMENT LANDBANK DEVELOPMENT IN 2021 (in million m2) (in million m2) 2020 AuM Completions Completions Acquisitions 2021 AuM 2020 Net change in Landbank owned Newly under 2021 GLA from 2020 start
Slide 42: Ukraine Investor Presentation Graphs
Ukraine Investor Presentation Graphs CEE CURRENCIES 2022 YTD PERFORMANCE CEE EQUITY INDICES 2022 YTD PERFORMANCE Slovakia Romania CTP Germany Finland Russia Serbia Czechia Bulgaria Poland Sweden Hungary 5% 10% 0% 0% -10% -5% -20% -10% -30% -40% -15% -50% -20% -60% -70% -25% -80% -30% -90% RONEUR BGN
Slide 43: Definition of used terms
APPENDICES A5 Definition of used terms Annualised Rental Income: rent roll as per the end of period, including service charge EPRA Topped-Up NIY: annualised rental income based upon the cash passing rent at income (Base rent plus other rental income plus extras for above standard technical balance s
Slide 44: Disclaimer
DISCLAIMER Disclaimer This announcement may include statements which may be deemed to be, “forward-looking statements”. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “plans”, “projects”, “anticipates”, “expe