Noval Property Real Estate Investment Company · ATHEX:NOVAL
Noval Property Real Estate Investment — Investor Presentation (May 2026)
31 slides from Noval Property Real Estate Investment's investor presentation, May 2026
Slide 1: Presentation to The Hellenic Fund & Asset Management Association
Presentation to The Hellenic Fund & Asset Management Association May 2026
Slide 2: Table of contents
Table of contents 1 Company Overview 2 Financial Performance & Capital Structure 3 Portfolio Overview 4 Sustainable Properties 5 Future Prospects 6 Appendix 2
Slide 3: Company Overview
Company Overview 3
Slide 4: Our DNA, Our Strategy
Our DNA Our Strategy A fully integrated real estate Ideally positioned to capitalize on company led by a highly experienced Greece's real estate market prospects, management team. having a captive pipeline of projects that Execute on our captive pipeline can be developed to unlock capital value of d
Slide 5: 2025 Performance Snapshot
2025 Performance Snapshot €694 mn 62 / 362,000 €39.8mn Key highlights GAV (2) Properties / sqm GLA (3) Annualized Gross Rental Income (GRI) (3)(4) ● Delivered two new properties: the mixed-use Key building ‘Ardittos House’ in Mets, Athens, and a prime office building on 16 Chimarras street portfoli
Slide 6: Financial Performance & Capital Structure
Financial Performance & Capital Structure 6
Slide 7: Positive Trends in Greek Economic Conditions
Positive Trends in Greek Economic Conditions GDP & Inflation (%) GGB Yield (10Y) Greek economy upgrades Unemployment Rate (% of Labour Force) Foreign Direct Investment (FDI) (€mn) Sources: IMF October 2025, Bank of Greece, Bloomberg | * Provisional data 7
Slide 8: FY 2025 Financial Results
FY 2025 Financial Results Rental Revenue ● Solid rental revenue growth continuing in 2025 (+13% vs. 2024), driven by equally strong contributions from the retail and office asset classes (+€1.7mn respectively vs. 2024), followed by the industrial and hospitality asset classes (+0.4mn respectively v
Slide 9: FY 2025 Financial Results
FY 2025 Financial Results ● Investment portfolio grew by €45.3mn in 2025 (+7% vs. ● Net asset value increased by €35.8mn in 2025, 2024) mainly driven by capital expenditure of €22.9mn, fair representing a +7% rise compared with 31.12.2024, value gains** of €20.2mn and an increase of €2.1mn in the f
Slide 10: Capital Structure
Capital Structure Debt Key Figures (1) (in € mn unless otherwise stated) Shareholder Structure Cash and Cash equivalents 47,6 Gross Debt (excl. Lease Liabilities) 187,6 Gross LTV (%) 27,8% Net LTV (%) 20,7% Weighted Average cost of Debt (WACD %) (2) 2,8% Total Gross Debt Split by Rate
Slide 11: Portfolio Overview
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Slide 12: Attractive Risk-adjusted returns from a well-balanced portfolio
Attractive Risk-adjusted returns from a well-balanced portfolio Average Gross Rental Yield per Asset Class (1)(3) Robust yield generation from our income-producing asset classes Offices Retail Mixed-Use Residential Hospitality Logistics/Warehouses AVG 5.7% 9.1% 2.8% 2.8% 8.1% 6.5% 7.2% GAV per Ass
Slide 13: Healthy lease terms and diversified tenant mix that support stable cash flows
Healthy lease terms and diversified tenant mix that support stable cash flows Annualized Gross Rental WAULT per Asset Class % Occupancy Rate (years) (1) (2) (3) Income Expirations per Asset Class (2) (as a % of total) (1) 54.9% 11.1 100% 100% 100% 99.3% 98% 91.8% 8.8 8.6 6.8 61.4% 11% 3.4 10.5% 3.2
Slide 14: Healthy lease terms and diversified tenant mix that support stable cash flows
Healthy lease terms and diversified tenant mix that support stable cash flows Strong and Diversified Tenant Mix Tenant Mix (Indicative) 14
Slide 15: Major Income-producing Properties
Major Income-producing Properties River West & RW Open Mare West IKEA ATHENS CORINTH ATHENS GAV (1): €127.6mn GAV (1): €21.6mn GAV (1): €60.5mn GLA: 37,702 sqm GLA: 13,048 sqm GLA: 25,124 sqm Completion: 2021 Completion: 2015 Completion: 2008 The Orbit Butterfly 16 Chimarras ATHENS ATHENS ATH
Slide 16: Projects completed
Projects completed “Ardittos House” Mets, ATHENS 16, Chimarras str. Marousi, ATHENS “K199” Kifissias Ave. Marousi, ATHENS DESCRIPTION DESCRIPTION DESCRIPTION Repurpose and renovation of a mixed-use building Development of an additional office building on Renovation / refurbishment of an existing off
Slide 17: Projects in progress
Projects in progress “The Grid” 10-12, Chimarras str. Marousi, ATHENS 252, Pireos str. Tavros, ATHENS DESCRIPTION DESCRIPTION Development of an office campus (through the JV “The Grid S.A. at 50%”) Urban regeneration and repurposing of former industrial buildings into offices, hotel, residences, mu
Slide 18: Sustainable Properties
Sustainable Properties 18
Slide 19: Delivering Sustainable Properties
Delivering Sustainable Properties INVESTMENT STRATEGY Transforming old building stock into Placing particular emphasis on the Assessment of buildings’ modern, sustainable and energy development and management of environmental and social impact efficient properties that are in high sustainable certi
Slide 20: Future prospects
Future prospects
Slide 21: Focused Strategy, Strong Expectations 2026
Focused Strategy, Strong Expectations 2026 Focused on delivering and Advancing the development Selectively target new leasing up our ongoing projects of our captive pipeline investments to complement our portfolio Growth catalysts FY 2026: FY 2026: ● Consumer sales of our retail assets contin
Slide 22: Appendix
Appendix
Slide 23: Financials | Statement of Financial Position – IFRS
Financials | Statement of Financial Position – IFRS Any deviations in total amounts are due to rounding Any deviations in total amounts are due to rounding 23
Slide 24: Financials | Income Statement – IFRS
Financials | Income Statement – IFRS Any deviations in total amounts are due to rounding 24
Slide 25: NAV break-down, a-EBITDA & FFO
NAV break-down, a-EBITDA & FFO * Number of shares has been adjusted for the reverse split 1/2.5 that took place in 2023 Any deviations in the total amounts are due to rounding 25
Slide 26: Analysis per Type of Asset
Analysis per Type of Asset Any deviations in the total amounts are due to rounding. Source: Company data (1) The categorization is based on the main use of each property, except for the category Development, which includes properties intended or under development from all asset classes, in order to
Slide 27: Geographical Sector Analysis & Gross Asset Value
Geographical Sector Analysis & Gross Asset Value Any deviations in the totals are due to rounding Source: Company data (1) Represents the fair value of the properties and right-of-use asset, accordingly (2) Refers to Gross Leasable Area and not Gross Building Area (as disclosed in the Issuer's Inves
Slide 28: Glossary
Glossary Earnings Before Interest, Tax, Depreciation and Amortization adjusted for (gain)/loss from fair value adjustment of investment 1 ‘Adj. EBITDA property, gain/loss from impairment on financial assets, (gain)/loss from sale of investment property, non-recurring (income)/expense ; ; 7 __.....an
Slide 29: Footnotes
Footnotes (1) As of and for the 12m-period ending 31.12.2025, unless otherwise stated. (2) Gross Asset Value refers to Investment Schedule adding the participation of 50% in the JV “THE GRID SA” (€32mn) and the Shareholder Loan (€10mn) (3) Company data (4) Based on annualized contracted rent p.5 in
Slide 30: Disclaimer
Disclaimer Important Notice THIS DOCUMENT MAY ONLY BE USED IN CONJUNCTION WITH AND SUBJECT TO THE TERMS OF THIS NOTICE By viewing or receiving this Presentation (as defined below), you agree to be bound by the following limitations/terms of use of the Presentation: This corporate presentation (the P
Slide 31: Thank you
Thank you NOVAL PROPERTY re: purpose growth
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