Nepi Rockcastle N.v · JSE:NRP

Nepi Rockcastle — Investor Presentation (June 2023)

38 slides from Nepi Rockcastle's investor presentation, June 2023

  1. Slide 1: Property Tour June 2023

    NEPI a ROCKCASTLE © PROPERTY.TOUR June2023

  2. Slide 2: Company Overview

    COMPANY OVERVIEW June 2023 2 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  3. Slide 3: NEPI Rockcastle profile

    NEPI Rockcastle profile • Active in 9 countries in CEE with robust economic outlook, above BBB (Standard & Poor's)/ BBB+ (Fitch) investment grade credit rating Stable outlook the European Union average • Investments in high-quality commercial real estate with strong Gold Award for compliance with it

  4. Slide 4: A leading commercial real estate company in CEE

    A leading commercial real estate company in CEE 98% of the properties are located in EU investment-grade countries Lithuania 2% Oriented towards financial stability and long term growth Poland 28% S&P Fitch Weight in the portfolio Czech Republic Country Credit rating Credit rating (by property value

  5. Slide 5: Delivering on strategy - strong performance continues backed-up by robust balance sheet

    Delivering on strategy - strong performance continues backed-up by robust balance sheet GROWTH SUSTAINABILITY HIGH-QUALITY EXPANDING AND DELIVERING ON FINANCIAL ESG PORTFOLIO OF STRENGHTENING DEVELOPMENTS STABILITY FOCUS DOMINANT ASSETS THE PORTFOLIO'S NOI • +17% higher NOI • Promenada • Strong perf

  6. Slide 6: Q1 2023 Status of the business – Turnover and Footfall

    Q1 2023 Status of the business – Turnover and Footfall* With +25% increase in turnovers vs Q1 2022, Q1 2023 continues the upwards trend, pushing the basket size up by 8% YTD LfL turnover* variation (€m) YTD LfL footfall* variation (million visits) 1,000 100 800 80 +25% +14% 600 60 400 40 200 20 0 0

  7. Slide 7: Q1 2023 Status of the business – Retail segments

    Q1 2023 Status of the business – Retail segments All retail segments outperformed previous year Q1 levels, notable recovery for Entertainment (+47%), driven by Cinemas operators Turnover year to date LfL variation (%) Weight in 2023 turnover (%) by segments by segments Total 25% Fashion 22% 40% Food

  8. Slide 8: Q1 2023 Status of the business – Leasing activity

    Q1 2023 Status of the business – Leasing activity Retail vacancy level continued to decrease to 2.4% Retail vacancy evolution (%) 6 5 4 3.6% 3.6% 3 2 2.5% 2.4% 1 0 Q4 2021 Q1 2022 Q4 2022 Q1 2023 39+61 Split of signed leases Q1 2023 by GLA 219 signed leases on 47,200m2 GLA, out of which 52% of GLA r

  9. Slide 9: Funding strategy - pillars

    Funding strategy - pillars stable upgrade BBB/BBB+ Investment grade rating €926m Liquidity 34.7% LTV Standard & Poor’s (stable outlook) / including cash and undrawn committed Within 35% threshold Fitch (stable outlook) revolving facilities Net debt/EBITDA 12 10 • Remaining debt term: 4.1 years* 8 7.

  10. Slide 10: Development Projects

    Development Projects €701m investments under permitting and construction • Developing in phased manner, with high pre-leasing targets • Main anchors secured early in the process • Construction costs committed on a gradual manner Poland Target GLA/GSA* of Total Country Type Category opening date deve

  11. Slide 11: Tour map

    Tour map 5 Gdansk 4 FORUM GDANSK SHOPPING CENTER 6 Torun Warsaw COPERNICUS SHOPPING CENTRE Poland PROMENADA CRAIOVA Romania SERDIKA CENTER 2 3 Bucharest Craiova 1 Sofia VULCAN RESIDENTIAL Bulgaria PARADISE CENTER PROMENADA BUCHAREST 11 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  12. Slide 12: Property tour itinerary

    Property tour itinerary All figures related to the properties presented in the next slides are as at 31 December 2022 if not otherwise stated Saturday 3 June - Arrival in Sofia, Bulgaria Arrival in Sofia & transfer to Hyatt Hotel Welcome dinner at Cosmos Restaurant Day 1 - Sunday, 4 June NEPI Rockca

  13. Slide 13: Bulgaria - Sofia

    Bulgaria - Sofia 38% purchasing power per inhabitant 1.3 million inhabitants 2.4% Low above national average* unemployment rate * Source: GFK, Bulgarian national statistic bureau 13 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  14. Slide 14: Paradise Center

    Paradise Center 2013 opening date 2017 acquisition date 80,400m2 GLA €23.0 Average rental (€/m2/month) €21.3mPassing rent Main tenants €265.8m Valuation 96.1% EPRA Occupancy 14 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  15. Slide 15: Catchment area

    Catchment area 1,113,000 30-minute drive 638,000 15-minute drive 15,000 5-minute drive 15 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  16. Slide 16: Serdika Center

    Serdika Center 2010 opening date 2017 acquisition date 51,700m2 GLA €22.3 Average rental (€/m2/month) €13.8mPassing rent Main tenants €162.3m Valuation 99.6% EPRA Occupancy 16 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  17. Slide 17: Catchment area

    Catchment area 1,109,000 30-minute drive 327,000 15-minute drive 12,000 5-minute drive 17 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  18. Slide 18: Romania - Bucharest

    Romania - Bucharest 93% purchasing power per inhabitant 2.16 million inhabitants 1% Very low unemployment rate as above national average* of February 2023 * Source: GFK, Bucharest employment office 18 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  19. Slide 19: Promenada Mall

    Promenada Mall 2013 opening date 2014 acquisition date 39,300m2 GLA €29.6 Average rental (€/m2/month) €13.8mPassing rent Main tenants €189.7m Valuation 98.6% EPRA Occupancy 19 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  20. Slide 20: Catchment area

    Catchment area 940,000 30-minute drive 177,000 15-minute drive 30,000 5-minute drive 20 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  21. Slide 21: 58,400m2 GLA, ongoing extension

    58,400m2 GLA, ongoing extension 21 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  22. Slide 22: 58,400m2 GLA, ongoing extension » continued

    58,400m2 GLA, ongoing extension» continued 22 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  23. Slide 23: Vulcan Residence

    Vulcan Residence 2023 finalisation date 18,300m2 Gross Sellable Area 254 residential units 54% units sold as of 31 May 2023 23 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  24. Slide 24: Vulcan Residence » continued

    Vulcan Residence» continued 24 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  25. Slide 25: Vulcan Residence » continued

    Vulcan Residence» continued 25 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  26. Slide 26: Romania - Craiova

    Romania - Craiova 13% purchasing power per inhabitant 240,000 inhabitants above national average* * Source: GFK 26 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  27. Slide 27: Promenada Craiova

    Promenada Craiova Oct. 2023 opening date Main tenants 63,700m2 GLA 27 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  28. Slide 28: Catchment area

    Catchment area 340,000 30-minute drive 242,000 15-minute drive 499,000 45-minute drive 28 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  29. Slide 29: Development in progress

    Development in progress 29 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  30. Slide 30: Poland - Torun

    Poland - Torun 5.8% purchasing power per inhabitant 200,000 inhabitants 3.5% Unemployment rate above national average* * Source: GFK, Eurostat 30 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  31. Slide 31: Torun

    Torun Rich, historical city, with strong macroeconomics • City of Torun (population 200,000), being is on the UNESCO World Cultural and Natural Heritage List, is highly popular tourist destination in Poland - more than 1.5 million annual tourists • Home to four universities with nearly 27,000 studen

  32. Slide 32: Copernicus Shopping Centre

    Copernicus Shopping Centre 2005/2015 opening date 2022 acquisition date 48,000m2 GLA €16.0 Average rental (€/m2/month) €9.1m Passing rent Main tenants €125.4m Valuation 98.4% EPRA Occupancy 32 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  33. Slide 33: Catchment area

    Catchment area 192,000 15-minute drive 338,000 30-minute drive 640,000 45-minute drive 33 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  34. Slide 34: Poland - Gdansk

    Poland - Gdansk 23% purchasing power per inhabitant 470,000 inhabitants 2.3% Unemployment rate above national average* * Source: GFK, Eurostat 34 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  35. Slide 35: Gdansk

    Gdansk Largest city in one of the wealthiest region of Poland • Gdansk (pop. 470,000) is the largest city in north Poland’s Tricity conurbation (pop. 1,000,000+), one of the country’s wealthiest and fastest-growing regions in the country • The Tricity region, comprising Gdynia, Sopot and Gdansk, is

  36. Slide 36: Forum Gdansk Shopping Center

    Forum Gdansk Shopping Center 2018 opening date 2022 acquisition date 63,500m2 GLA €23.6 Average rental (€/m2/month) €17.2m Passing rent Main tenants €268.0m Valuation 96.4% EPRA Occupancy 36 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  37. Slide 37: Catchment area

    Cathment area 281,000 15-minute drive 564,000 30-minute drive 1,008,000 45-minute drive 37 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

  38. Slide 38: 38 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

    38 NEPI ROCKCASTLE PROPERTY TOUR JUNE 2023

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