Slide 1: Company Presentation 4M2026
FY 2025 Company Presentation 22 February 2024 FY 2023 4M2026 Financial Results
Slide 2: Fully integrated industrial and logistics real-estate company
Fully integrated industrial and logistics real -estate company • Aim for all new buildings to be • EU Taxonomy compliant €8.71 billion 18 140 268 • certified at least at BREEAM Total GAV 1 Countries Parks Completed Buildings Excellent or DGNB Gold level • VGP shares listed on Euronext Brussels since
Slide 3: We are where you need to be
We are where you need to be Germany Czech Republic Latvia Portugal 1. Berlin -Bernau 46. Brno 84. Dreilini 122. Loures 2. Berlin -Ludwigsfelde 47. České Budějovice 85. Kekava 123. Loures II 86. Kekava 2 124. Montijo 3. Berlin -Oberkrämer 48. Český Újezd 87. Riga Airport 125. Santa Maria de Feira 4.
Slide 4: Fully integrated business model with in-house capabilities and competences
Fully integrated business model with in-house capabilities and competences Land Concept & design Construction Rent Portfolio Ancillary services • Identification of prime • In-house design of • Acting as a general • Mainly long term lease • Long term developer / • Assisting clients with locations bui
Slide 5: Successful and long standing track record of geographic expansion
Successful and long standing track record of geographic 8.715 expansion and continued delivery across markets … 7.194 7.837 6.440 5.746 3.843 2.771 1.936 1.506 1.195 428 677 200 225 106 226 2007 2011 2013 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1998 2007 2009 • Expansion Fully -market
Slide 6: Operational Performance 4M 2026
Operational Performance 4M 2026
Slide 7: Leasing activities
Leasing activities
Slide 8: Committed annualised rental income
Record year in committed rental income – including JVs at 100% Committed Annualised Rental Income And Number Of Tenancy Contracts • The group has 477 tenants Increase in rental income Rolling rental income Number of contracts • Committed annualised leases as of 4M’26 of € 486.4 million 1 (FY25 468.3
Slide 9: Majority share of new contracts signed within logistics segment
Majority share of new contracts signed within logistics segment New Lease Agreements (Based On Rent) Examples 4M 2026 Other 0,5% E -commerce 24,0% Logistics 50,0% Light industrial 26,0% 9
Slide 10: Portfolio leased to a diversified and blue-chip tenant base
Portfolio leased to a diversified and blue - chip tenant base Tenant Portfolio Breakdown – By Industry Segment 1 • Weighted average lease term of 7.7 years 1 • Top 10 tenants represents 29.4% of committed leases and have a combined WAULT of 10.3 years Other 1% Light industrial Logistics E -commerce
Slide 11: €389 million of cash generative leases, with potential to grow to €766 million
€ 766 million € 389 million of cash generative leases, +64% Or with potential to grow to € 766 million, € 602 million At share as at year -end ‘25 +18% € 468 million or € 298 million € 432.7 million € 310 million Own Portfolio +11% at share € 389 million or € 146.6 million € 79 million € 236 million
Slide 12: Accelerating development activity drives second-strongest EBITDA in our history
Accelerating development activity drives second -strongest EBITDA in our history Deliveries and start -ups in square meters (‘000 m 2 ), split between West - and Eastern Europe, compared to EBITDA ( € million ) per year since 2020 634 455 407 820 West 789 354 215 East 459 171 250 394 EBITDA 456 366
Slide 13: Net rental and renewable energy income at share has grown 18% in '25
Net rental and renewable energy income at share has grown y-o-y with 18% in ‘25 Proportional net rental and renewable energy income ( ‘000 €) 223,384 189,368 155,046 107,134 70,718 55,256 46,666 43,417 33,490 23,934 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Continuous growth expected in ‘26
Slide 14: Portfolio virtually fully let on a long-term basis
Portfolio virtually fully let on a long -term basis Occupancy evolution (%) 1 Weighted average lease term (WALT) of the portfolio Combined 7.7 years 98.4% 99.4% 98.0% 100.0% 99.1% 99.8% 100.0% 98.5% 98.0% 99.3% 96.0% 98.0% 97.0% JVs 6.9 years 98.0% Own 9.6 years 2020 2021 2022 2023 2024 2025 4M'26 0
Slide 15: Deliveries
Deliveries
Slide 16: Delivery of new developments YTD
Delivery of new developments YTD Deliveries Geographical breakdown 1 • 5 buildings representing 121,000 sqm GLA • € 9.8 million rental income, 95% let Slovakia 25% Croatia 29% • 100% will be rated BREEAM ‘Excellent’ (or equivalent) or better, of which 21% BREEAM ‘Outstanding’ VGP Park Berlin, German
Slide 17: Deliveries in 2026 tending towards logistics
Deliveries in 2026 tending towards logistics Deliveries 1 Tenant segmentation Examples of deliveries 4M’26 E -commerce 6% Light industrial 36% Logistics 58% VGP Park Split, Croatia 17 1 Based on lettable sqm
Slide 18: Developments
Developments
Slide 19: Portfolio under construction represents €85.3 million of new leases
Portfolio under construction represents € 85.3 million of new leases • As per today, 44 buildings are under construction, representing 1,117,000 m 2 • This equates € 86.8 million of annualized leases 1 • The portfolio under construction is 76% pre -let including pre -lets on development land VGP Par
Slide 20: …and is well spread across our geographical footprint
…and is well spread across our geographical footprint Developments – geographic breakdown (by CARA+ERV) Portugal Italy Latvia Denmark 2% 2% 1% Croatia 2% 3% United Kingdom 4% Slovakia 4% Germany Hungary 36% 4% Austria 4% Spain 5% Czech Republic 5% Netherlands France 8% Romania 11% 9% VGP Park Berlin
Slide 21: Landbank
Landbank
Slide 22: Owned and committed land bank to support future growth
Owned and committed land bank to support future growth Land bridge (in million m²) 1,38 2,30 10,03 0,92 0,00 7,73 7,09 -0,28 Acquired Sold Committed Apr '26 Under option/ Pre -contract Owned Dec '25 Deployed Owned Apr '26 Owned and Committed Apr '26 Owned and committed land bank • Land bank (owned a
Slide 23: Renewable Energy
Renewable Energy
Slide 24: Renewable Energy Overview
Renewable Energy Overview • Total 301 (Dec -25 : 281 ) Renewable Energy projects with scale equivalent to 491 MW (Dec -25 : 474 MW) • Operational and under construction/permitting capacity increased from 324 MW to 388 MW, +20 % YTD • Photovoltaic (PV) operational production capacity including pipeli
Slide 25: Corporate Responsibility
Corporate Responsibility
Slide 26: ESG achievements 2025
ESG achievements 2025 VGP Academy – 31% of all delivered 5 sessions with 690 assets as of FY25 Green electricity have been certified CDP: B rating production est. participants in with "BREEAM 132GWh (+48% YoY) total Outstanding“ Set up EU 67% of assets is Taxonomy aligned 42 % of parks with 32 % of
Slide 27: Update Joint Ventures
Update Joint Ventures
Slide 28: Geographic expansion of Saga led to +€500 million transaction
Geographic expansion of Saga led to + € 500 million transaction Gross Asset Value from closings per year with JVs (€m) Number of closings Net cash proceeds (€m) 2 1 1 3 4 1 3 3 4 1 235 122 290 339 409 50 347 676 809* 389** 5,932 5,423 509 941 941 4,482 2025 1098 1098 1098 2024 2023 3,384 2022 887 88
Slide 29: Saga is 60% deployed – +600 GAV remaining
Saga is 60% deployed – +600 GAV remaining Targets identified to fulfill remainder Spain Austria Original Scope 6% 13% Added to scope Slovakia Czech Republic 20% 12% 989.000 sqm 39 Assets France Portugal 4% 6% Italy Germany 11% 28% Spain Austria 6% 13% Slovakia 29 15% Czech Republic 14% Portugal % of
Slide 30: Partnership with East Capital
Partnership with East Capital • VGP & East Capital set up a partnership to launch a Luxembourg -based RAIF focused on European industrial and logistics real estate, with emphasis on Central & Eastern European countries • Target GAV : €1.5bn+ |First closing : 2026 • Structure : VGP up to 50 % , remai
Slide 31: Disclaimer
Disclaimer ABOUT VGP VGP is a pan -European owner, manager and developer of high -quality logistics and semi -industrial properties as well as a provider of renewable energy solutions . VGP has a fully integrated business model with extensive expertise and many years of experience along the entire v