Slide 1: H1 2026 results
H1 2026 results Brussels, 1 September 2026 -1-
Slide 2: Table of content
Table of content 3 Highlights H1 2026 7 Strategy 12 Achievements 14 Portfolio analysis 27 Financials 38 Shares & shareholders 40 Outlook 43 Conclusion -2-
Slide 3: Highlights H1 2026
Highlights H1 2026 Maison Neo, Rocourt – -3- Belgium
Slide 4: Creating Europe's leading healthcare REIT
Creating Europe’s leading healthcare REIT ✓ 80% of Cofinimmo shares tendered during the exchange offer (10 March 2026) ✓ Legal merger by absorption effective since July 1st, 2026. Cofinimmo was delisted from Euronext. ✓ New Board of Directors and Executive Committee have been appointed Integration a
Slide 5: Highlights H1 2026
Highlights H1 2026 €2.71/share €12.5 billion €195 million 42.7% +5% YoY fair value New investments Debt-to-assets ratio EPRA EPS Group portfolio announced YTD (13 new projects added to €1,487 million the pipeline & 3 acquisitions) Headroom on committed credit €189.9 million €11.1 billion lines to fi
Slide 6: Investment activity
Investment activity New investments & pipeline completions1 Finland €48million €195 million United Kingdom €60 million new investments & projects announced in YTD (see map) Germany €42 million (€84m in H1 2026) Spain 13 projects €45 million (€106 million) completed YTD (€73m in H1 2026) 1 See H1 202
Slide 7: Strategy
Strategy Hoge Haeghe Almere Almere – The Netherlands -7-
Slide 8: Aedifica at a glance
Aedifica at a glance Pure-play Market reference Belgian REIT Long-term stable Healthcare focus in European listed (RREC/SIR/GVV) cash flows healthcare real estate €12.5 billion real estate portfolio Growth potential ~ €6.3 billion Inflation-linked driven by demographic market cap contracts evolution
Slide 9: Exploring European markets
Exploring European markets Track record of entering new markets & creating a healthcare platform for future growth 2005 2008 2013 2016 2019 2020 2021 # sites1 159 53 156 111 119 251 30 37 8 Pipeline €39m - €120m €13m €47m €103m €87m €122m - Portfolio €2,784m €664m €2,079m €1,198m €1,356m €1,430m €55
Slide 10: Demographic evolution
Demographic evolution Belgium Germany Finland 25% 25% 25% 20% 20% 20% 70+ 70+ 70+ 15% 15% 15% 75+ 75+ 75+ 10% 80+ 10% 80+ 10% 80+ 5% 85+ 5% 85+ 5% 85+ 0% 0% 0% 2025 2030 2040 2050 2060 2025 2030 2040 2050 2060 2025 2030 2040 2050 2060 The Netherlands United Kingdom Ireland 25% 20% 25% 20% 20% 15% 70
Slide 11: Sustainability
Sustainability CRREM Research project 148 kWh/m² 130 kWh/m² Aedifica actual 20252 nEUI target for 2030 1 ‘Carbon Risk Real Estate Monitor’ framework yoy Translates long-term policies (COP21 Paris Agreement) into science-based targets that are global warming scenarios, country and building type speci
Slide 12: Achievements
Achievements Militza Brugge Bruges - Belgium -12-
Slide 13: Achievements
Achievements Investment properties1 evolution & focus on Europe EVOLUTION SINCE 2006 GEOGRAPHICAL BREAKDOWN (FAIR VALUE)2 12,478 1 2 <1 <1 <1 5 2 2 1 1 2 2 9 5 7 7 7 12 12 13 15 14 12 5 4 12 12 11 11 5 14 17 17 11 23 18 18 19 21 21 11 6,2186,285 5,849 18 18 12 5,704 17 18 100 18 19 20 4,896 95 88 86
Slide 14: Portfolio analysis
Portfolio analysis Villa Temporis Hasselt – Belgium -14-
Slide 15: Real estate portfolio
Real estate portfolio Segment breakdown 1 FOCUS ON CARE FACILITIES FOR ELDERLY PEOPLE 4% Elderly care homes 2% 7% 2% Mixed-use elderly care 2% Elderly care homes Cure centers 3% Mixed-use elderly care Cure centersChildcare centers €11 billion Childcare centres Healthcare properties 2 Senior housing
Slide 16: Real estate portfolio
Real estate portfolio Geographical breakdown1 DIVERSIFICATION ACROSS EUROPEAN COUNTRIES GROUP PORTFOLIO HEALTHCARE PORTFOLIO 2% 2% 4% 4% 5% 5% Belgium 5% 6% 26% Germany 33% Finland 11% 11% United Kingdom Netherlands France 11% 13% Ireland 20% Spain 17% 12% Italy 13% 1 Based on Marketable Investment
Slide 17: Real estate tenants
Real estate tenants Tenant diversification pro forma1 12% 7% 924 healthcare sites 4% representing European, national and local profit 4% and not-for-profit 57% 3% operators 3% No ‘operator group’ 3% 3% leases more than 12% of 2% Aedifica’s consolidated 2% assets North Bay Group (UK) Municipalities 1
Slide 18: Operators' occupancy
Operators’ occupancy1 Mature assets portfolio OCCUPANCY STRONG IN ALL COUNTRIES OCCUPANCY EVOLUTION Average care homes occupancy1 91% 100% Incl. former Cofinimmo assets 96% 95% B 96% 93% G 89% 90% 89% 87% 90% N U Like-for-like 85% F YoY growth I (bps)2: -57 +232 +247 +72 +192 +170 +68 80% S Belgium
Slide 19: Operators' rent cover
Operators’ rent cover1 Stabilized assets portfolio 2.3 2.0 1.8 1.5 (x) 1.4 Belgium Germany Netherlands UK Ireland Portfolio coverage2: 79% 66% 35% 100% 99% 1 Rent cover data LTM as at 31 March 2026. Rent cover is calculated as EBITDARM LTM divided by Contractual Rent LTM. 2 Based on the contractual
Slide 20: Lease maturity
Lease maturity WAULT BY SEGMENTS1 WAULT BY COUNTRY (HEALTHCARE)1 22 21 19 19 Group average: 15 years 17 16 12 12 9 in years in years 7 7 7 Healthcare Distribution Offices Belgium Germany Netherlands networks United Kingdom Finland Ireland Spain France Italy 1 Based on contractual rent of the Marketa
Slide 21: Resilience in healthcare portfolio valuation
Resilience in healthcare portfolio valuation GROSS YIELDS 6.8% ON FAIR VALUE Conservative 6.6% valuation yields 6.6 6.4% 6.4 6.3 6.2% Avg 6.0 6.0% 6.0 6.0 5.8% 5.6% 5.7 5.7 5.7 5.4% 5.5 5.2% in % 5.0% -21-
Slide 22: Resilience in portfolio valuation
Resilience in portfolio valuation LIKE-FOR-LIKE PORTFOLIO VALUATION LFL Positive portfolio valuation more than 2 years 6 months valuation change Incl. offices & Belgium 0.3% +0.46% pubs Germany 0.0% The Netherlands 1.4% United Kingdom 1.5% +0.35% Finland 0.0% Ireland 0.2% Spain 1.9% +0.25% +0.21% It
Slide 23: Portfolio growth
Portfolio growth Development projects Acomb Manor – York (UK) To be completed in Q4 2026 Mikkeli Pehtorintie – Mikkeli (FI) To be completed: Q4 2026 Jyväskylä Linnantie – Jyväskylä (FI) To be completed: Q2 2027 Stadtlohn - Stadtlohn (DE) To be completed: Q2 2028 -23-
Slide 24: European healthcare platform
European healthcare platform Capital deployment with EPS accretive transactions • Constantly refuelling pipeline Development • Target €500 to €750 million pipeline • 6.5% yield target Creating Europe’s Standing assets • Daily ongoing investment activity leading healthcare • Small to medium-size asse
Slide 25: Committed development projects
Committed development projects Pipeline of €531 million of which €275 million to be invested GEOGRAPHICAL SPLIT EXPECTED DELIVERY DATE €13m €16m 2% 3% 100% €39m 7% €122m €43m healthcare 8% €47m 23% 9% 2026 2026 €250m 47% 2027 2027 100% pre-let €87m 16% 2028 2028 €120m €222m 42% 23% >2028 >2028 ~5.8
Slide 26: Offices & distribution networks
Offices & distribution networks OFFICES €0.9bn 23 6.3% Fair value sites FV yield 72% 93% 7 years Brussels’ CBD occupancy WAULT DISTRIBUTION NETWORKS €0.5bn 776 7.4% Fair value sites FV yield ~€3 million 100% 9 years divested in H1 occupancy WAULT (12 pubs) -26-
Slide 27: Financials
Financials De Kroon Dronten – The Netherlands -27-
Slide 28: Income Statement
Income Statement1 EPS YoY increase of +5% EPRA EARNINGS YOY INCREASE OF 54% +62% Consolidated income statement - analytical format 30/06/2026 30/06/2025 (x €1,000) Rental income 292,313 180,844 Operating result before result on Writeback of lease payments sold and discounted 170 0 portfolio 1.9% Ren
Slide 29: Income Statement
Income Statement Net result EARNINGS PER SHARE Positive l-f-l FV change Consolidated income statement - analytical format 30/06/2026 30/06/2025 in investment properties most (x €1,000) pronounced in the UK, the EPRA Earnings* 189,905 123,320 Netherlands & Spain Bargain purchase gain Changes in fair
Slide 30: Rental income
Rental income 120 115 +109.1 292.3 110 105 100 +1.3 +2.4 95 180.8 +3.9 +2.1 -0.3 62% 90 -2.3 -3.5 -1.2 increase YoY in € m 85 80 Rental Indexation Rent Disposals Deliveries Acquisitions Contingent Other FX impact Cofinimmo Rental income reversion rent 1 income H1 2025 H1 2026 1 Contingent rent inclu
Slide 31: Rental income
Rental income Like-for-like variation1 5.1% 5.0% + 1.7% 3.4% increase LFL rental income (Group) 2.6% 2.1% 2.1% 1.6% 1.7% + 1.9% increase LFL rental 0.4% 0.4% income (healthcare) -0.8% +1.9% rent indexation -1.3% +0.2% rent reversion Belgium Germany Netherlands United Finland Ireland Spain France Ita
Slide 32: Debt-to-assets ratio
Debt-to-assets ratio €67m €100m €153m €219m €418m €207m €459m €286m €254m €380m rights issue Oct 2010 rights issue Dec 2012 rights issue June 2015 rights issue Mar 2017 rights issue May 2019 ABB Apr 2020 rights issue Oct 2020 ABB Jun 2021 ABB Jun 2022 rights issue July 2023 42.7%1 60% 14,000 Debt-to
Slide 33: Credit facilities
Credit facilities Diversified sources of funding Investment credits 3% Investment credits €5,345 million 20% Termloans Term loans 44% total financial debt 23% bank facilities Revolvingloans Revolving loans Debt financing in H1 2026: 3% USPPGBP USPP GBP • €930 million new 5 to 7-year credit facilitie
Slide 34: Credit rating & KPI's
Credit rating & KPI’s Solid investment grade rating 7.6x 8.3x BBB+ with ICR1 Net debt/EBITDA2 stable outlook Credit rating S&P Global ~3% 1.9% encumbered assets Average cost of debt A-2 incl. commitment fees Short-term issuer rating following the successful Unsecured exchange offer for financing 61%
Slide 35: Credit facilities
Credit facilities Well spread debt maturity profile 1,800 1,600 1,400 459 ~€1,487 million1 1,200 headroom on committed credit 521 997 lines and cash on 30 June to 1,000 433 158 finance capex & liquidity needs 800 420 600 171 3.3 years 772 231 400 751 500 weighted average debt maturity 512 150 in € m
Slide 36: Credit facilities
Credit facilities Interest rate hedging1 10% 12% 20% 90% 38% of debt hedged by derivatives 51% or fixed rate debt 51% 51% as of 30 June 2026 45% 3.4 years 40% Weighted average hedge 28% maturity 39% 37% 36% Min. 60% 22% 21% hedging policy 1 Projected debt. 30/06/2026 31/12/2026 31/12/2027 31/12/2028
Slide 37: Net asset value
Net asset value Discount on 31 August 2026 12% vs IFRS NAV 11% vs EPRA NTA Net asset value per share (in €) 30/06/2026 31/12/2025 IFRS Net asset value 76.87 77.05 EPRA Net Tangible Assets (in €/share) 30/06/2026 31/12/2025 EPRA NTA 77.82 78.40 -37-
Slide 38: Shares & shareholders
Shares & shareholders An der Zitadelle, Jülich - Germany -38-
Slide 39: Shareholding
Shareholding1 INTERNATIONAL & DIVERSIFIED SHAREHOLDERS BASE1 One shareholder holding more than 5% of the company’s 7% Belgium capital 2 2% 6% United States ~1/3 retail shareholders 2% United Kingdom ~2/3 institutional shareholders 3% Netherlands 35% 100% free float 3% Luxembourg Ireland 4% Major ind
Slide 40: Outlook
Outlook Oulu Vaarapiha Oulu - Finland -40-
Slide 41: Outlook 2026
Outlook 2026 €656 million ~€5.5 million ~1.9% rental income synergy savings average cost of debt (1/3 estimated full run-rate synergies of €16 million during 2027) €436 million €110 million 0.87 EUR/GBP EPRA Earnings asset rotation for 2026 foreign exchange assumption of which €54 million achieved Y
Slide 42: Outlook
Outlook Drivers for future growth while €5.35/share EPRA EPS 2026 maintaining a solid debt-to-asset ratio (+4% vs. 2025) 7.0 €4.20/share 6.5 6.0 CAGR: 7.8% 3 Gross DPS 2026 5.5 EPRA EPS over 10Y 2 5.15 5.35 (+5% vs. 2025) 5.02 4.93 5.0 4.76 4.35 3 4.5 4.23 4.20 4.0 3.74 3.70 3.80 3.90 4.00 Strong fu
Slide 43: Conclusion
Conclusion Priesty Fields Care Home Congleton – United Kingdom -43-
Slide 44: Investment highlights
Investment highlights Attractiveness for shareholders PURE-PLAY focus FAIR VALUE HISTORY HEALTHCARE REIT IN EUROPE OF PORTFOLIO SHOWING RESILIENCE STRONG UNDERLYING LONG-TERM VISIBILITY DEMOGRAPHIC TRENDS ON CASH FLOWS 15 YEARS WAULT LONG-TERM GROWTH POTENTIAL STRONG TRACK RECORD - EQUITY AND DEBT F
Slide 45: Capital Markets Day
Capital Markets Day 24 & 25 November 2026 London -45- This event is intended exclusively for institutional investors. Attendance by invitation only.
Slide 46: Thank you
Thank you INVESTOR RELATIONS EVENTS 2026 ir@aedifica.eu Sep 8-10 EPRA Conference, Milan Rue Belliard/Belliardstraat 40 bte 11 Sep 25 Degroof Petercam Conference, Brussels 1040 Brussels, Belgium Oct 19-22 EPRA Asia Week, Virtual https://aedifica.eu/investors/ Nov 18 Q3 2026 results publication Nov 24
Slide 47: Stefaan Gielens - CEO; Ingrid Daerden - CFO
Stefaan Gielens - Chief Executive Officer Ingrid Daerden - Chief Financial Officer -47-
Slide 48: Aedifica SA/NV
Aedifica SA/NV Public REIT under Belgian Law Regulated Real Estate Company (RREC) Société immobilière réglementée (SIR) Gereglementeerde vastgoedvennootschap (GVV) Rue Belliard 40 / Belliardstraat 40 (box 11) 1040 Brussels Tel: +32 (0)2 626 07 70 - Fax: +32 (0)2 626 07 71 info@aedifica.eu - www.aedi
Slide 49: Forward-looking statement
Forward-looking statement This Presentation includes forward-looking statements that reflect the Company's intentions, beliefs or current expectations concerning, among other things, the Company’s results, condition, performance, prospects, growth, strategies and the industry in which the Company op
Slide 50: Appendix
Appendix LTS Winschoten Winschoten - Netherlands -50-
Slide 51: EPRA NTA
EPRA NTA 6.47 78.40 77.82 2.71 0.54 0.82 2.46 -7.02 -6.57 EPRA NTA Transaction PPA EPRA result Property Badwill Dividend Other EPRA NTA 31/12/2025 impact value 30/06/2026 increases -51-
Slide 52: Belgian healthcare portfolio
Belgian healthcare portfolio PORTFOLIO OF 159 ASSETS €2,784 m ~18,200 6.0% 17 years portfolio residents yield on WAULT fair value fair value 3 20 ~€2,823 m Inflation- projects to be tenant portfolio outlook linked completed groups as of triple net long 1 September 2026 leases 4% exposure to the Brus
Slide 53: Belgian healthcare portfolio
Belgian healthcare portfolio Marketable investment properties Project in the investment programme -53-
Slide 54: Belgian healthcare portfolio
Belgian healthcare portfolio Battavia, Grimbergen – ‘t Spelthof 82 units Lubbeek – 121 units Hof Van Schoten, Schoten – 101 units Sorgvliet, Linter – 110 units -54-
Slide 55: German healthcare portfolio
German healthcare portfolio PORTFOLIO OF 156 ASSETS €2,079 m ~16,200 5.7% 19 years portfolio residents yield on WAULT fair value fair value 4 39 ~€2,199 m Inflation- projects tenant portfolio outlook linked to be groups as of double net long Completed & 1 1 September 2026 leases with various acquisi
Slide 56: German healthcare portfolio
German healthcare portfolio Marketable investment properties Projects in the investment programme -56-
Slide 57: German healthcare portfolio
German healthcare portfolio Seniorenquartier Weyhe, Weyhe - 109 units Seniorenheim Parkhöle Lindenfels, Lindenfels – 165 units Stadtlohn, Stadtlohn – To Seniorenhaus Lessingstrasse, be completed in Q2 2028 Wurzen - 73 units -57-
Slide 58: Dutch healthcare portfolio
Dutch healthcare portfolio PORTFOLIO OF 111 ASSETS €1,198 m ~4,600 6.3% 12 years portfolio residents yield on WAULT fair value fair value 1 46 ~€1,209 m Inflation- acquisition tenant portfolio outlook linked subject to groups as of mostly triple net outstanding 1 September 2026 long leases condition
Slide 59: Dutch healthcare portfolio
Dutch healthcare portfolio Marketable investment properties -59-
Slide 60: Dutch healthcare portfolio
Dutch healthcare portfolio Villa Florian, Alphen aan de Rijn, Blaricum - 29 units Alphen aan de Rijn – 45 units De Kroon, Dronten – 43 units LLT Almere Buiten, Almere - 38 units -60-
Slide 61: UK & Channel Islands healthcare portfolio
UK & Channel Islands healthcare portfolio PORTFOLIO OF 119 ASSETS €1,356 m ~7,800 6.4% 22 years portfolio residents yield on WAULT fair value fair value 4 16 ~€1,415 m Inflation- UK REIT projects to be tenant portfolio outlook linked regime completed and groups as of 1 forward triple net long Since
Slide 62: UK & Channel Islands healthcare portfolio
UK & Channel Islands healthcare portfolio Marketable investment properties Project in the investment programme -62-
Slide 63: UK & Channel Islands healthcare portfolio
UK & Channel Islands healthcare portfolio York Bluebeck Drive, York The Mount, – 66 units Wargrave - 65 units To be completed Q2 2026 Homefield, Douglas (Isle Beechwood Care Centre, of Man) – 73 units Bridlington - 62 units -63- To be completed Q1 2027
Slide 64: Finnish healthcare portfolio
Finnish healthcare portfolio PORTFOLIO OF 251 ASSETS €1,430 m ~18,400 6.0% 12 years portfolio residents & yield on WAULT fair value children fair value 20 56 ~€1,560m Inflation- projects tenant portfolio outlook linked to be groups as of double net long completed 1 September 2026 leases >6.5% 19% Ex
Slide 65: Finnish healthcare portfolio
Finnish healthcare portfolio Marketable investment properties Projects in the investment programme -65-
Slide 66: Finnish healthcare portfolio
Finnish healthcare portfolio Helsinki Ensikodintie, Tampere Kanavanportti, Helsinki – 32 units Tampere – 62 units Helsinki Radiokatu, Helsinki - Mikkeli Pehtorintie, Mikkeli – 15 children To be completed in Q4 2026 -66-
Slide 67: Irish healthcare portfolio
Irish healthcare portfolio PORTFOLIO OF 30 ASSETS €550 m ~2,900 5.7% 19 years portfolio residents yield on WAULT fair value fair value 3 8 ~€637 m Inflation- projects tenant portfolio outlook linked to be groups as of triple net long completed 1 September 2026 leases -67-
Slide 68: Irish healthcare portfolio
Irish healthcare portfolio Marketable investment properties Projects in the investment programme -68-
Slide 69: Irish healthcare portfolio
Irish healthcare portfolio Kilcoole, Kilcoole - To Limerick Cancer be completed Q3 2027 Center, Limerick – To be completed Q4 2026 Crumlin, Dublin – To be completed Q1 2028 Northwood Nursing Home, Dublin - 121 units -69-
Slide 70: Spanish healthcare portfolio
Spanish healthcare portfolio PORTFOLIO OF 37 ASSETS €430 m ~5,800 5.5% 21 years portfolio residents yield on WAULT fair value fair value 9 9 €582 m Inflation- SOCIMI projects tenant portfolio outlook linked regime to be groups as of triple net long completed 1 September 2026 leases -70-
Slide 71: Spanish healthcare portfolio
Spanish healthcare portfolio Marketable investment properties Project in the investment programme -71-
Slide 72: Spanish healthcare portfolio
Spanish healthcare portfolio Jardines de Eztebe, Bilbao – 147 units Tomares Miro, Tomares - 180 units Amavir Jaen, Jaen – Salamanca Raimundo, Salamanca – 160 units 160 units - To be completed Q3 2028 -72-
Slide 73: French healthcare portfolio
French healthcare portfolio PORTFOLIO OF 53 ASSETS €664 m ~5,100 6.6% 7 years portfolio residents yield on WAULT fair value fair value 7 €661m Inflation- SIIC tenant portfolio outlook linked regime groups as of double net leases 1 September 2026 -73-
Slide 74: French healthcare portfolio
French healthcare portfolio Marketable investment properties -74-
Slide 75: French healthcare portfolio
French healthcare portfolio Villa Bauci, Fontainebleau Villa Villers-sur-Mer, Villers-sur-Mer -75-
Slide 76: Italian healthcare portfolio
Italian healthcare portfolio PORTFOLIO OF 8 ASSETS €216 m ~1,300 5.7% 7 years portfolio residents yield on WAULT fair value fair value 4 €216 m Inflation- tenant portfolio outlook linked groups as of double net leases 1 September 2026 -76-
Slide 77: Italian healthcare portfolio
Italian healthcare portfolio Marketable investment properties -77-
Slide 78: Italian healthcare portfolio
Italian healthcare portfolio Sant’Andrea, Monza (Milano) San Faustino, Milano -78-
Slide 79: Notes
fl Notes aedifica |" housing with care -79-