Infracore Sa · DUS:385
Infracore Sa — Investor Presentation (September 2026)
26 slides from Infracore Sa's investor presentation, September 2026
Slide 1: Investor Presentation
INFRACORE Investor Presentation Switzerland's leading hospital real estate specialist September 2026 Privatklinik Bethanien
Slide 2: Forward-looking statements
Forward-looking statements This communication contains statements that constitute “forward-looking statements”. In this communication, such forward-looking statements include, without limitation, statements relating to our financial condition, results of operations and business and certain of our st
Slide 3: Opening Remarks
01 Opening Remarks Privatklinik Lindberg
Slide 4: Infracore is Switzerland's leading hospital real estate specialist
Infracore is Switzerland’s leading hospital real estate specialist I N F R A C O R E AT A G L A N C E Below for the first half of 2026 end of June: Number of 49 Portfolio CHF 6’593 / m2 Rental CHF 35.9m Portfolio CHF 1.5bn properties as of end of July 2026 value / m2 as of end of July 2026 income va
Slide 5: Infracore's business model at a glance – win-win for all stakeholders
Infracore’s business model at a glance – win-win for all stakeholders OpCo PropCo (Hospital Operators) (Property Owners) OpCo/PropCo structure unlocks capital for operators and enables stronger focus on core healthcare delivery, as the property itself is not a direct revenue driver • Focus on core B
Slide 6: Snapshot of Infracore
02 Snapshot of Infracore Clinia Ars Medica
Slide 7: Key investment highlights
Key investment highlights 1 Switzerland’s stability paired with long-term demographic shift, drive the need for healthcare infrastructure Specialized Swiss hospital platform with clear scarcity value and 2 strong cycle resilience, supported by proven management with strong track record High-quality
Slide 8: Switzerland is among global leaders in healthcare spending
Switzerland is among global leaders in healthcare spending fueled by long- term demographic shifts and population growth H E A LT H C A R E S P E N D I N G S W I S S P O P U L AT I O N 1 M U LT I M O R B I D I T Y 2 CAGR ~430bps 20% 12 0.6% 25% 12’000 % of GDP Swiss Population in millions CHF per ca
Slide 9: Hospital real estate sector has high entry barriers, resulting in scarcity
The hospital real estate sector is characterized by high entry barriers, resulting in scarcity value amongst sector platforms High capital 1 requirements Hospital real estate projects are characterized by complexity and high construction costs Stringent regulatory The hospital market is subject to e
Slide 10: High-quality portfolio in attractive locations with long-term indexed rents
16/09/2026 Infracore is characterized by a high-quality portfolio strategically placed in attractive locations with long-term indexed rents… P L AT F O R M H I G H L I G H T S ( 3 0 J U N E 2 0 2 6 ) HIGH ASSET QUALITY2 98.8% 28.6 Years CHF 149m Occupancy Rate WAULT Development1 Questionable Top Goo
Slide 11: Majority of properties operated by SMN
…with majority of properties operated by SMN, one of Switzerland’s leading healthcare providers SWISS MEDICAL NETWORK LONG AND SECURE LEASES • 2nd largest private hospital service provider with 19 hospitals, 80 medical centers and 22 eye clinics Indexed rent • Most profitable private hospital operat
Slide 12: Lease structure aligned with hospital service provider's economics
Lease structure aligned with hospital service provider’s economics ensuring long-term affordability ✓ ✓ ✓ Assessment of tenant’s Independent third-party risk Fair, bilaterally negotiated lease business plan for rent assessments and checks of rent structure sustainability levels Long-term viability •
Slide 13: Significant expertise in hospital renovation and optimization
Significant expertise in hospital renovation and optimization KEY METRICS E X P E R I E N C E D B O A R D & M G M T. T E A M BUNDLING ON EXPERTISE 2 Campus developments2 Martin Antoine Edward K. Céline Dr. Stephan Strong experience in Gafner Hubert Aldag Amaudruz Philipp Thaler Chairman Vice- Member
Slide 14: Strong portfolio growth since 2007
Strong portfolio growth since 2007… T O TA L I N V E S T M E N T P R O P E R T I E S MAIN PORTFOLIO DEVELOPMENT Source of Growth1 2009 Extension Clinique de Genolier CHFm, as of 31 Dec except 2026 2010 Extension Clinique Montchoisi Majority of growth 22% coming from acquisitions Acquisition Clinica
Slide 15: A diverse and modern portfolio
…making it a diverse and modern portfolio with… ASSET GALLERY (selection) Beau-Soleil 20/22 Privatklinik Bethanien Clinique de Genolier Genolier Innovation Hub Campus Spital Zofingen See-Spital Privatklinik Lindberg Clinica Ars Medica Clinica Sant’Anna Clinique de Valère Clinique Générale Clinique d
Slide 16: Clinique de Valère
02 HY-2026 Clinique de Valère
Slide 17: Highlights in the first half of 2026
Highlights in the first half of 2026 Initial Public Offering (IPO) Acquisition of See-Spital Strong financial performance • Infracore has successfully completed its • Acquisition was completed on 2 July 2026 • Rental income up by 5.3% compared to the IPO on 9 July 2026, which marks the and is an imp
Slide 18: Solid performance in the first half of 2026
Solid performance in the first half of 2026 CHFm / % HY 2026 HY 2025 Deviation S E L E C T E D K E Y C O M M E N TA R Y Rental income 35.9 34.1 1.8 Total revenue A 35.9 34.1 +1.8m / +5.3% A Revenue growth: Strong rental income growth, supported by a prior-year acquisition (Spital Zofingen), complete
Slide 19: Robust balance sheet prior and post IPO
Robust balance sheet prior and post IPO 31.07.2026 S E L E C T E D K E Y C O M M E N TA R Y CHFm / % 30.06.2026 31.12.2025 (post-IPO) Total investment properties 1’525.4 1’411.5 1’412.0 A Investment properties: Sale of two non-core assets in Investment properties A 1375.1 1’262.6 1’271.8 Solothurn a
Slide 20: Financial Outlook
Financial Outlook CHFm / CHF FY 2026 FY 2025 Deviation Rental income ≈74.0 66.1 +7.9 Free funds from operations ≈47.0 42.0 +5.0 Expected distribution for 2026 45.1 – 46.7 Distribution per share (in CHF) 2.95 – 3.05 Key parameters for the FY2026 outlook Drivers for future growth • Financial Outlook i
Slide 21: Future growth
03 Future growth Clinica Sant’Anna
Slide 22: Future growth is sought in two main strategic pillars
Future growth is sought in two main strategic pillars O R G A N I C G R O W T H T H R O U G H E X PA N S I O N O F E X PA N D I N G T H E P O R T F O L I O T H R O U G H S A L E E X I S T I N G F A C I L I T I E S A N D O P E R AT I O N A L AND LEASEBACK IMPROVEMENTS Development potential on existin
Slide 23: Case study: sale-and-leaseback transaction with See-Spital
Case study: ’s sale-and-leaseback transaction with See-Spital Infracore announced the acquisition of the real estate of See-Spital Horgen via a sale-and-leaseback transaction • Acquisition of a brand-new, publicly backed hospital campus in a top location See Spital • Attractive valuation of the camp
Slide 24: Infracore faces a sizeable addressable market
Infracore faces a sizeable addressable market guided by a focused investment strategy… ADDRESSABLE INVESTMENT UNIVERSE INVESTMENT CRITERIA3 275 Swiss hospitals1 Size • Mid-sized, regional hospitals preferred 259 hospitals not owned by Infracore2 • Focus on acute hospitals Type • Opportunistically al
Slide 25: Q&A
04 Q&A ¢ INFRACORE Clinia Ars Medica
Slide 26: INFRACORE
C. 4 INFRACORE Rue Georges Jordil 4 1700 Fribourg www.infracore.ch