Slide 1: Financial Highlights Q1-2025
Save the date: Capital Markets Day CTP N.V. September 24-25 in Wuppertal, Germany Financial Highlights Q1-2025 08 May 2025
Slide 2: Q1-2025: continued growth, backed by long-term demand drivers
Q1-2025: continued growth, backed by long-term demand drivers Financial highlights Operational highlights €183m €156m 93% (93% as at 31 Dec 2024) 6.5 yrs (+15.9% vs. Q1-2024) (-5.6% vs. Q1-2024) (6.4 years as at 31 Dec 2024) Gross Rental income Net valuation result Occupancy WAULT €99m €0.21 (+6.9%
Slide 3: CTP: pan-European platform and market leader in the CEE
CTP: pan-European platform and market leader in the CEE Core Markets Growth Markets 13.4m sqm GLA 1.9m Western European Markets BRNO Portfolio Value by Country (%) sqm GLA under construction NL AU GE 3.0% 1.3% 26.4m 10.1% BU 1.7% RS 3.7% sqm landbank €16.3bn PL 7.1% 138MWp CZ 42.4% SK GAV 7.4% Insta
Slide 4: Accelerated growth since IPO in March 2021
Accelerated growth since IPO in March 2021 IPO 03/2021 +128% +110% +179% SQM of GLA (in millions) 16.0 13.4 14.0 13.3 11.8 12.0 Growth in GLA Growth in Landbank growth in Investment 10.5 from 5.9 million sqm to from 12.6 million sqm to Property 10.0 13.4 million sqm 26.4 million sqm from €5.8 to €16
Slide 5: Integrated and derisked business model
Integrated and derisked business model 13.4 million sqm GLA in existing parks / ~1,500 clients ~90% client retention and 58% in existing parks and ~2/3 of new leases signed 31% in new parks with with existing clients potential for over 10 – 15% new space 100,000 sqm of GLA developed per year Busines
Slide 6: Strong and consistent development track record
Strong and consistent development track record Expected YoC Pre-let at delivery Projects under construction 100% 13.5% 94% 92% 11.6% 10.8% 11.0% 10.3% 10.3% 10.3% 86% 86% 10.1% 80%-90% target 81% range 80% 80% 2018 2019 2020 2021 2022 2023 2024 Q1 2025 2018 2019 2020 2021 2022 2023 2024 Q1 2025 NB:
Slide 7: Unlocking the landbank value driving double-digit NTA growth
Unlocking the landbank value driving double-digit NTA growth FV of landbank on balance sheet of: ~€60 per sqm Average construction costs: ~€500 per sqm Total investment costs1: ~€620 (€500 + 2 * €60) per sqm Investment Properties valued at ~€1,030 (excluding the older German DIR portfolio) per sqm P
Slide 8: Strong acceleration of leasing in Q1
Strong acceleration of leasing in Q1 Leases signed by sqm Q1 Q2 Q3 Q4 FY 2023 297,000 552,000 585,000 542,000 1,976,000 2024 336,000 582,000 577,000 618,000 2,113,000 +24% Q1-2025 YoY increase in sqm of 2025 416,000 leases signed YoY growth +24% Average monthly rent leases Q1 Q2 Q3 Q4 FY +3% signed
Slide 9: Adjusted for country mix, rent levels of new leases 3% higher
Adjusted for country mix, rent levels of new leases signed in Q1-2025 3% higher than in Q1-2024 PL €5.03 NL €10.79 SK €5.57 Q1 2024 Q1 2025 €5.05 - 14,000 DE sqm sqm €6.30 €5.66 - 3,000 sqm sqm Q1 2024 Q1 2025 36,000 38,000 Group CZ1 sqm sqm Q1 2024 Q1 2025 HU RO €6.17 58,000 23,000 €8.04 €8.33 €5.1
Slide 10: Increase in HoTs signed, reflecting future leasing activity
Increase in HoTs signed, reflecting future leasing activity HoTs signed 350 300 250 200 150 100 50 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec #HoTs '23 #HoTs '24 #HoTs '25 NB: Figures may not add up due to rounding 10
Slide 11: Nearshoring drives demand from manufacturing tenants
Nearshoring drives demand from manufacturing tenants, which are strongly represented in CTP’s portfolio Portfolio March 2025 Leases signed in last 24 months GLA split by industry (%) GLA split by industry (%) 1 Professionalization of supply chains, following Services Other Other CEE countries joinin
Slide 12: Over 10% of portfolio leases to Asian clients producing in Europe
Over 10% of portfolio leases to Asian clients producing in Europe for Europe GLA of Asian tenants 1,500,000 1,300,000 ~20% of leases signed 1,100,000 in Last 12 900,000 700,000 500,000 300,000 2018 2019 2020 2021 2022 2023 2024 Q1-2025 12
Slide 13: CTP expected to benefit from accelerated nearshoring due to tariffs
CTP expected to benefit from accelerated nearshoring due to tariffs → After a period of 50 years of globalization, there is currently a US Effective Tarriff Rates (%) phase of deglobalization going on, illustrated amongst others by 35 30 Brexit and Trump’s first and second terms as US president 25 2
Slide 14: Strong and diversified international client base
Strong and diversified international client base Low operational and financial risk 37.6% 34.1% Top 50 Clients Top 50 as a % of Top 50 as a % of GLA split by industry (%) portfolio GLA Rental Income 3PLS: 10.8% AUTOMOTIVE: 9.0% E-COMMERCE, RETAIL, WHOLESALE AND DISTRIBUTION: 5.5% NB: Figures may not
Slide 15: CTP's long-lasting tenant relations drive strong retention and collection rates
CTP’s long-lasting tenant relations drive strong retention and collection rates Occupancy1 (%) 95% 94% 94% 94% 86% 99.7% 93% 93% Tenant retention Collection rate FY-2020 FY-2021 FY-2022 FY-2023 FY-2024 Q1-2025 4.2% 72% CTP’s market share in core markets2 (%) 28.8% 28.6% 27.8% 27.5% 27.4% Like-for-li
Slide 16: Successful leasing of Q1 2025 deliveries
Successful leasing of Q1 2025 deliveries 95,000 100% Leased at delivery sqm delivered €5.9m 10.0% CTPark Warsaw North Contracted rental income YoC 100% In existing parks or in new parks with >100k sqm potential CTPark Žilina Airport NB: Figures may not add up due to rounding 16
Slide 17: Next growth phase locked in thanks to projects under development
Next growth phase locked in thanks to projects under development 1,915,000 10.3% 80-90% sqm under construction Expected YoC Expected pre-let at delivery 78% In existing parks 9% 42% Pre-let 2025 deliveries €148m Potential rental income In new parks with >100k sqm potential 75,000 sqm signed for futu
Slide 18: Energy
Energy 138 138 → YoC target: 15% MWp Installed 100 → Cost per MWp: ~€750k – below market average thanks to CTP acquiring in bulk and PV ready roof structures since 2020 → Income: 1-year lag between installation and income, i.e. MWp installed in 2024 drive 2025 income 38 → Q1 2025 revenues: €1.9 mill
Slide 19: ESG integrated in CTP business model
ESG integrated in CTP business model NB: These results shall not be construed as investment advice or expert opinion as defined by the applicable legislation. 19
Slide 20: Growth plan on track to reach 20 million sqm before end of the decade
Growth plan on track to reach 20 million sqm before end of the decade Standing portfolio & under construction Deliveries 2025: 1.2 - 1.7 million sqm Million sqm - owned Million sqm 1.8 1.9 14 2.0 12 1.7 10 1.3 13.3 13.4 1.2 1.0 8 1.0 11.8 0.9 10.5 0.6 6 0.7 7.6 5.9 0.1 4 2020 2021 2022 2023 2024 Q1
Slide 21: Financial results
Financial results 21
Slide 22: Financial highlights
Financial highlights In € million Q1-2025 Q1-2024 % change Gross Rental Income 182.5 157.5 +15.9% Net Rental Income 179.4 153.6 +16.8% Net valuation result on investment property 156.2 165.6 -5.6% Profit for the period 196.3 226.9 -13.5% Company specific adjusted EPRA earnings 98.7 87.4 +12.9% In €
Slide 23: Gross Asset Value up 2.3% in Q1-2025 and 16.7% y-o-y
Gross Asset Value up 2.3% in Q1-2025 and 16.7% y-o-y Investment Property (IP), Investment Property under Development (IPuD) and Property, Plant & Equipment (PPE) (€ million) GAV: 5,872 8,460 11,486 13,633 15,980 16,345 249 248 2020 - 2024 1,302 1,292 CAGR: 28.4% 234 1,077 1,257 920 169 1,360 763 1,1
Slide 24: EPRA NTA up 2.8% in Q1-2025 and 12.6% y-o-y
EPRA NTA up 2.8% in Q1-2025 and 12.6% y-o-y EPRA NTA € per share +€0.33 €18.58 +€0.21 -€0.04 €18.08 FY-2024 Company specific adjusted Revaluation Others Q1-2025 EPRA EPS NB: Figures may not add up due to rounding 24
Slide 25: Conservative valuation yields
Conservative valuation yields FY-2024 H1-2024 FY-2023 H1-2023 FY-2022 H1-2022 → At the Q1 and Q3 results only IPuD projects are revalued. Standing portfolio revalued at H1 and FY results Gross Portfolio yield 6.6% 6.5% 6.7% 6.6% 6.5% 6.3% → Yields have peaked in the Industrial & Logistics sector in
Slide 26: Favourable maturity profile reflects active liquidity management
Favourable maturity profile reflects active liquidity management Bonds 2.9% Conservative residual Unsecured loans (JPY) maturity of debt Unsecured loans (EUR) (€ million) Secured loans Average cost of debt 2,156 99.9% 1,669 1,497 Hedged / fixed 698 647 547 582 533 511 5.1 yrs 396 34 Average debt mat
Slide 27: Strong liquidity position and ample headroom to covenants
Strong liquidity position and ample headroom to covenants €3.1bn 9.1x Normalized Net Debt 31 March 2025 Covenant Liquidity to EBITDA Secured Debt Test 15.6% 40% 68% Unsecured debt 45.3% LTV Unencumbered Asset Test 179.6% 125% CREDIT RATINGS Interest Cover Ratio 2.5x 1.5x BBB- Baa3 A- (stable) (stabl
Slide 28: Good access to credit markets with €1.2 billion raised in Q1-2025
Good access to credit markets with €1.2 billion raised in Q1-2025 Green Bond March 2025 → Active management of loan portfolio through repricing further €159 million of secured bank loans in Q1-2025 → €1 billion dual-tranche → 6-year at MS +145 bps → Most debt repricing done. Low interest rate bonds
Slide 29: Outlook
Outlook → Leasing dynamics remain strong, with robust occupier demand, and decreasing new supply supporting ongoing rental growth → The Group’s pipeline is highly profitable with a YoC target of >10% and supplies tenant led growth. The YoC for CTP’s current pipeline remained at industry leading 10.3
Slide 30: Guidance
Guidance Guidance 2025 Growing dividend Dividend policy1 Dividend per share €0.300 €0.290 €0.275 €0.86-€0.88 €0.230 €0.250 70% - 80% €0.220 2025 Company specific pay-out €0.180 adjusted EPRA EPS €0.170 +8-10% vs. 2024 Interim Final Interim Final Interim Final Interim Final 2021 2021 2022 2022 2023 2
Slide 31: Long-term potential
Long-term potential Annualized rent in million EUR Medium to long-term Short-term >1,200 89 >1,000 54 16 148 23 748 Annualized rent Completion of Filling up Indexation Reversion Future Annualized rent Reversion 20 million sqm Potential Full 31/03/2025 existing pipeline vacancy 2025-2027 2025-2027 de
Slide 32: Appendices
Appendices 32
Slide 33: Total return
Total return € per share EPRA NTA growth 20 DPS paid €0.50 €0.00 €18.58 18 €2.73 -€0.57 16 -€0.48 €2.59 14 Total Return: +17% €2.15 -€0.40 Total Return: +19% 12 -€0.17 10 €3.91 Total Return: +18% €8.32 8 Total Return: +47% 6 4 2 0 31 December NTA growth Dividend NTA growth Dividend NTA growth Divide
Slide 34: Top 20 Parks
Top 20 Parks Since: 2015 Since: 2006 Since: 2015 Since: 2004 Since: 2006 The Top 20 parks represent the core of the CTPark Network. They are thriving business communities, with a dynamic mix of clients RO RO CZ RO RO CZ CZ CZ from a broad range of industries. Bucharest West Bor Bucharest Brno Ostrav
Slide 35: Top 20 Parks
Top 20 Parks Since: 2024 Since: 2020 Since: 2002 Since: 2021 Since: 2015 The Top 20 parks represent the core of the CTPark Network. They are thriving business communities, with a dynamic mix of clients RO CZ CZ CZ CZ SK RO RO from a broad range of industries. PL Warsaw West Brno Líšeň Hranice Námest
Slide 36: EPRA EPS
EPRA EPS EPRA Earnings (€ million) Q1-2025 Q1-2024 Earnings per IFRS income statement 196.3 226.9 Adjustments to calculate EPRA Earnings, exclude: Changes in value of investment properties, development properties held for investment and other interests 156.2 166.7 Profits or losses on disposal of in
Slide 37: Company Specific Adjusted EPRA Earnings P&L
Company Specific Adjusted EPRA Earnings P&L Non-recurring Company specific (€ million) IFRS Adjustments adjusted EPRA Earnings Rental Income 182.5 1.0 183.5 Service charge income 21.8 21.8 Property operating expenses -25.0 -25.0 Net rental income 179.4 1.0 180.3 Net income / expenses from renewable
Slide 38: EPRA NAV
EPRA NAV EPRA Net Asset Value Metrics (€ million) EPRA NRV EPRA NTA EPRA NDV 31 March 2025 31 March 2024 31 March 2025 31 March 2024 31 March 2025 31 March 2024 IFRS Equity attributable to shareholders 7,596.9 6,389.2 7,596.9 6,389.2 7,596.9 6,389.2 Include / Exclude: i) Hybrid instruments Diluted N
Slide 39: EPRA NIY
EPRA NIY EPRA NIY and 'topped-up' NIY (€ million) 31 March 2025 31 December 2024 Investment property – wholly owned 16,096.0 15,732.1 Investment property – share of JVs/Funds Trading property (including share of JVs) Less: developments 1,256.5 1,076.8 Less: landbank 1,302.0 1,292.4 Completed propert
Slide 40: LTV
LTV LTV (€ million) 31 December 2024 31 December 2024 Investment Property 14,839.4 14,655.3 Investment Property under Development 1,256.5 1,076.8 Property, Plant and Equipment 249.0 248.4 Gross Asset Value 16,345.0 15,980.5 Bonds 5,012.3 4,043.1 Interest-bearing loans and borrowings from financial i
Slide 41: Cost of debt
Cost of debt Cost of Debt (€ million) 31 March 2025 (LTM) 31 December 2024 Net finance costs (IFRS) -235.0 -181.1 To be excluded: Profit in loss from fin assets and liabilities for trading -3.3 -1.9 Exchange rate differences -11.8 5.9 Other financial income 25.1 37.2 Other financial expense -21.2 -1
Slide 42: Portfolio
Portfolio GAV1 Standing2 Landbank2 IPuD PPE Portfolio split by value (in %) (€16,345m) (€13,537m) (€1,302m) (€1,257m) (€249m) Czech Republic 42% 44% 26% 41% 62% Romania 15% 17% 10% 2% 9% Germany 10% 9% 19% 8% 4% Hungary 8% 9% 9% 4% 5% Slovakia 7% 7% 9% 11% 2% Poland 7% 5% 14% 19% 2% Serbia 4% 4% 4%
Slide 43: Portfolio
Portfolio Standing IPuD Landbank Portfolio split by sqm (‘000) (13,417 sqm) (1,915 sqm) (26,389 sqm) Czech Republic 4,362 33% 598 31% 8,717 33% Romania 3,143 23% 142 7% 4,304 16% Germany 1,665 12% 171 9% 1,530 6% Hungary 1,236 9% 122 6% 2,685 10% Slovakia 977 7% 118 6% 2,004 8% Poland 806 6% 321 17%
Slide 44: Financial calendar
Financial calendar Event: Date: H1-2025 results 7 August 2025 Capital Market Days in Wuppertal, Germany 24-25 September 2025 Q3-2025 results 6 November 2025 FY-2025 results 26 February 2026 44
Slide 45: Disclaimer
Disclaimer This announcement contains certain forward-looking statements with respect to the financial condition, results of operations and business of CTP. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “pla
Slide 46: Maarten Otte, Head of Investor Relations
Maarten Otte, Head of Investor Relations Mobile: +420 730 197 500 Email: maarten.otte@ctp.eu 46