Trastor Real Estate Investment Company S.a. · ATHEX:TRASTOR
Trastor Real Estate Investment — H1 2026 Earnings Presentation
29 slides from Trastor Real Estate Investment's earnings presentation, September 2026
Slide 1: H1 2026 Financial & Business Update
H1 2026 Financial & Business Update SEPTEMBER 2026
Slide 2: Financial & Business Highlights
► Financial Highlights Financial & ► Business Update & Key Events Business Highlights 2
Slide 3: Financial Highlights
Financial & Business Highlights Financial Highlights €26.8m ▲ +40.0% €21.2m ▲ +46.9% €10.7m▲ +236.5% €30.5m ▲ +146.7% RENTAL REVENUE ADJ. EBITDA EPRA EARNINGS NET PROFIT €867.0m ▲ +5.4% €578.3m ▲ +39.2% 32.7% €1.465 GROSS ASSET VALUE TOTAL EQUITY NET LTV BOOK NAV / SHARE Strong first-half financial
Slide 4: Business Update & Key Events
Financial & Business Highlights Business Update & Key Events Strengthened Capital Base Enhanced Interest Rate Protection • Successfully completed a €150m share capital increase through the • Entered into an IRS with an initial notional amount of €236.6m, issuance of 150m new shares at €1.00 per shar
Slide 5: Share Capital Increase €150m
Financial & Business Highlights Share Capital Increase CAPITAL RAISED 3,667 16.1% 13 €150m Shareholders(1) Free float International institutional investors Combined international and local offering completed in May 2026 Significant firepower to accelerate the investment plan +80% increase in Up from
Slide 6: Transactions
Financial & Business Highlights Transactions Acquisitions · Strengthening our presence in prime central Athens locations Mixed Use Building - 8 Kar. Servias, Athens Office Building - 1 Apellou, Athens Office Building - 58 Athinas, Athens Mixed Use Athens CBD Office Athens CBD Office Athens CBD Consi
Slide 7: Divestments
Financial & Business Highlights Divestments Divestments | 2021 - H1 2026 2021-2025 H1 2026 24 Assets sold 2 Assets sold +7.9% Sale price above latest book value +15.2% Sale price above latest book value Key Metrics 26 €8.2m 21.1% Assets divested, 2021 - H1 2026 Gain over acquisition cost Capital ret
Slide 8: Dividends & NAV Appreciation
Financial & Business Highlights Dividends & NAV Appreciation Dividend Evolution | 2020 - 2026(E) Dividend per share (€) Total dividend amount (€m) 13.1x min 19.7 min 0.05 0.04 9.8 0.03 0.03 7.3 0.02 0.02 4.6 4.9 0.01 3.0 1.5 (1) (1) 2020 2021 2022 2023 2024 2025 2026(E) 2020 2021 2022 2023 2024 2025
Slide 9: Key Financial Figures
► P&L Metrics ► GAV Evolution & Value Creation Key Financial ► Balance Sheet & Debt Structure Figures ► EPRA Metrics 9
Slide 10: P&L Metrics
Key Financial Figures P&L Metrics Rental Revenue Adjusted EBITDA(1) 75.4% 79.1% +40.0% 26.8 +46.9% 19.2 21.2 14.5 H1 2025 H1 2026 H1 2025 H1 2026 Adj. EBITDA margin Fair Value Gains EPRA Earnings 16.7% 40.0% +100.2% +236.5% 18.3 10.7 9.2 3.2 H1 2025 H1 2026 H1 2025 H1 2026 EPRA earnings margin All a
Slide 11: GAV Evolution
Key Financial Figures GAV Evolution GAV Bridge - 31/12/2025 to 30/06/2026 39.1 18.3 2.3 -15.3 848.7 867.0 822.6 807.4 807.4 809.7 (1) (2) GAV 31.12.2025 Disposals CapEx Acquisitions Revaluation Gains GAV 30.06.2026 All amounts in €m Active capital deployment and portfolio recycling GAV growth in H1
Slide 12: Revaluation Gains by Asset Type
Key Financial Figures Revaluation Gains by Asset Type Contribution to H1 2026 Revaluation Gains 12.9 4.0 0.7 0.7 <0.1 Office Logistics Retail Mixed Use Other All amounts in €m Office assets generated 70.4% of Logistics delivered a further 22.0% Together, Office and Logistics generated total revaluat
Slide 13: Balance Sheet
Key Financial Figures Balance Sheet Gross Asset Value (GAV)(1) Net Asset Value (NAV) €867.0m €1.465 / share ▲ +44.4m vs €822.6m at 31.12.2025 vs €1.697 at 31.12.2025 Reflecting €39.1m(2) of acquisitions in central Athens, €18.3m of Total Group Equity increased by 39.2% to €578.3m, from revaluation g
Slide 14: Debt Structure
Key Financial Figures Debt Structure Debt Structure | Lenders(1) 5.6% 21.5% 7.7% 11.4% 42.9% 57.1% 78.5% 75.3% Piraeus Bank Eurobank Hedged Unhedged Hedged Unhedged NBG Eurobank Cyprus As of 30.6.2026 As of 31.7.2026 Key Metrics €426.0m 3.59% €142.2m €283.8m 5.2 yrs 32.7% Gross Debt (Group)(2) WA Co
Slide 15: EPRA Metrics
Key Financial Figures EPRA Metrics EPRA Earnings €10.7m EPRA Net Tangible €579.1m ▲ +236.5% Assets (NTA) ▲ +39.6% Per share Per share €0.038 €1.467 ▲ +190.3% ▼ -13.5%(1) EPRA Net Initial 6.1% EPRA Vacancy 1.3% Yield (NIY) ▲ +0.4 pp Rate ▼ -1.9 pp EPRA Cost Ratio(2) 27.0% EPRA LTV 33.3% ▼ -9.3 pp ▼ -
Slide 16: Portfolio
► Portfolio Overview ► Portfolio Mix & KPIs Portfolio ► Tenants, Leases & Location Strategy 16
Slide 17: Portfolio at a Glance
Portfolio Portfolio at a Glance Successful Share Capital Increase Following the successful €150m share capital increase, TRASTOR enters H2 2026 with a strengthened capital base and increased capacity to execute its investment 66 €867m ▲ +5.4% program ASSETS GROSS ASSET VALUE Selective Capital Deploy
Slide 18: A High-Quality Institutional Portfolio
Portfolio A High-Quality Institutional Portfolio Office & Mixed Use Logistics 94 Vas Sofias Av Arcania Business Center 18 Sorou Str Ano Fousa Rikia Office Office Office Logistics Logistics Fair Value €39.9m Fair Value €35.9m Fair Value €35.4m Fair Value €86.2m Fair Value €22.1m Location Athens CBD L
Slide 19: Portfolio Mix & KPIs
Portfolio Portfolio Mix & KPIs Geographic Composition Asset Class Allocation GAV (%) GAV (%) Ann Rental Income (%) 1.6 1.8 0.4 0.6 4.7 11.1 8.5 7.9 8.1 53.5 54.5 28.5 26.9 91.9 Attica Cyprus Thessaloniki Other Greece Office Logistics Retail Mixed Use Other(1) WAULT(2) (years) Occupancy(3) (%) Office
Slide 20: Tenants & Leases
Portfolio Tenants & Leases Tenant Mix (% of Annualized Rent) Lease Indexation (% of Annualized Rent) 2.7% 1.6% 2.7% 2.3% 4.4% 6.3% 38.8% 47.8% 93.4% Multinational Companies Large Greek Corporates CPI+ Step Up TOR Non-Indexed SMEs Public Sector Other High occupancy and a diversified tenant base under
Slide 21: Location Strategy
Portfolio Location Strategy 83% of GAV located in three key Athens clusters Office - North Athens #14 €233.6m Assets GAV 28.3% 26.9% of Annualized of GAV Income Office & Mixed Use - CBD 03 01 #14 €256.4m Assets GAV 02 26.2% 29.6% of Annualized of GAV Income Logistics - West Attica #14 €233.1m Assets
Slide 22: Appendix
► Consolidated P&L, Balance Sheet, Cash Flow ► Glossary / Alternative Appendix Performance Measures ► Disclaimer 22
Slide 23: Consolidated Statement of Comprehensive Income (Group)
Appendix Consolidated Statement of Comprehensive Income (Group) H1 2026 H1 2025 01.01-30.06.2026 01.01-30.06.2025 Rental income from investment property 26,840,298 19,171,215 Common expense income 1,466,439 857,871 Total Revenue 28,306,737 20,029,086 Fair value gains on investment property 18,325,86
Slide 24: Consolidated Statement of Financial Position (Group)
Appendix Consolidated Statement of Financial Position (Group) ASSETS EQUITY & LIABILITIES 30.06.2026 31.12.2025 30.06.2026 31.12.2025 Investment property 863,619,000 822,642,605 Share capital 197,368,749 122,368,749 Share premium 180,096,369 112,441,235 PP&E, right-of-use & intangibles 1,186,032 1,2
Slide 25: Consolidated Statement of Cash Flows (Group)
Appendix Consolidated Statement of Cash Flows (Group) H1 2026 H1 2025 Profit before tax 31,852,545 13,607,296 Adjustments (D&A, FV gains, interest, other) (11,773,860) (91,945) Working capital & other movements 3,504,347 (1,900,150) Interest & Tax paid (8,990,493) (8,659,776) Net cash flow from oper
Slide 26: Glossary / Alternative Performance Measures
Appendix Glossary / Alternative Performance Measures Term Definition Gross Asset Value (GAV) The fair value of the Company's / Group's total property portfolio, including assets classified as held for sale Net Asset Value (NAV) Total Equity attributable to shareholders NAV/share NAV divided by the n
Slide 27: EPRA Metric Definitions
Appendix EPRA Metric Definitions EPRA Metric Definition EPRA Earnings Earnings from operational activities The EPRA NAV set of metrics make adjustments to the NAV per the IFRS financial statements to provide stakeholders with the most relevant information on the fair value of the assets and liabilit
Slide 28: Disclaimer
Disclaimer This document has been prepared by TRASTOR Real Estate Investment Company (hereinafter "TRASTOR" or the "Company") for informational purposes only. It does not constitute regulated information or information that has been subject to prior registration or control by the Hellenic Capital Ma
Slide 29: Trust Growth Expertise Success
TRUST GROWTH EXPERTISE SUCCESS Website E-mail LinkedIn https://trastor.gr info@trastor.gr Trastor REIC
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