Slide 1: Corporate presentation Q1 2022
Corporate presentation Q1 2022 May 12, 2022 SPACE FOR GROWTH
Slide 2: Track '24, ESG, Appendix
Track ‘24 ESG Appendix
Slide 3: Highlights: Status Track '24
Highlights Q3 2021 ❑ Status Track ’24: Since the beginning of 2021, Montea has identified an investment volume of € 400 million ➢ € 301 million invested ➢ € 99 million projects in execution This identified investment volume of € 400 million consists of a mix of: Tilburg ➢ 50% of standing investments
Slide 4: Highlights Q1 2022
Highlights Q3 2021 ❑ In Q1 2022, the fair value of the property portfolio increased by € 176 million (+10%) to € 1.9 billion ➢ € 128 million investment volume realised ➢ € 47 million revaluations ❑ At the start of 2022, Steven Claes was appointed Chief Human Resources Officer - he joins the manageme
Slide 5: Main Logistic hotspots
Focus areas in Germany are logistic hotspots, known as important logistic clusters with a stable demand for logistic real estate. Focus area in The Netherlands is the southern part of the country, with the ‘Randstad’ area (Amsterdam, Rotterdam, Den Haag, Utrecht) and Tilburg-Breda as most important
Slide 6: Overview of FV Portfolio
Overview of FV Portfolio (€ M) 1,874 43 42 € 1,750 M € 86 M Yearly rent Standing investments @100% occupancy Belgium France The Netherlands Germany 755 646 € 82 M €5M Developments Future rental income 521 423 215 210 326 201 € 36 M Solar panels €5M Income solar panels 174 213 139 134 176 109 14 118
Slide 7: Montea sites by country
Lille Antwerp Hamburg Berlin Ghent Paris Berlin Brussels Liège Cologne Amsterdam Düsseldorf Charleroi Rotterdam Lyon Frankfurt Tilburg Marseille Main Logistic hotspots Munich Montea sites Current yield % of total Country # sites SQM (‘000) Fair Value Yearly Rent Occupancy @ 100% occupation portfolio
Slide 8: Strong portfolio KPI's
Strong portfolio KPI’s Continuous arbitration of portfolio Portfolio roll forward (in billion €) (e.g. € 100 M disposals in the last 7 years) +0.5 Leading to exceptional portfolio KPI’s +1.1 -0.1 1.9 7.3y 98.8% 0.4 Residual lease Occupancy rate term 5.0% Current yield (at 100% occupation) 8
Slide 9: Occupancy rate & rental activity
Occupancy rate & rental activity Maturity profile Occupancy rate (%) Portfolio Management (in % of current rent) 2022 9% of the current rent has a break or contract end in 63.5% 99.7% 2022, representing 99.3% € 6.7 M 99.4% 82% has already been 10.9% 99.1% 98.8% extended or rented to 1.9% 10.2% 9.7%
Slide 10: High qualitative client portfolio
High qualitative client portfolio Logistics type Type of Sector Low risk profile 8% 6% 9% 42% 41% 56% 20% 2% 8% 8% Food & Beverage Retail Construction/Industry Brand Logistics (end user) Network Logistics (distribution) Contract Logistics (single client) Automotive Pharma & Medical Other Third Party
Slide 11: High qualitative building portfolio
High qualitative building portfolio Portfolio age Multimodality 28% 47% 18% 53% 42% 12% < 5 years 6 - 10 years 11 - 20 years > 20 years Yes No 70% of the buildings is less than ten Multi-modal sites years old 11
Slide 12: High qualitative client portfolio: top clients
High qualitative client portfolio ◆ Top 10 of clients represent 30% of the rental income of 2022 ◆ Top 20 of clients represent 47% of the rental income of 2022 ◆ 74% of sites are single tenant 4.0% 3.5% 3.4% 3.2% 3.1% 2.7% 2.6% 2.5% 2.4% 2.3% 12
Slide 13: Risk profile of rental income
Risk profile of Rental income 99% of lease contracts capture indexation Current Rent Floored @ 0%, No Cap 36 M€ 42 % No Floor, No Cap 7 M€ 8% of lease contracts are floored at 0% 91% no negative indexation possible Floored @ 0% + Cap 42 M€ 49 % Not Indexed 1 M€ 1% TOTAL RENT 86 M€ of lease contracts
Slide 14: 's Hertogenbosch & Zwolle (NL)
1 2 Amsterdam (Port + Airport) 2 Rotterdam ‘s Hertogenbosch & Zwolle (NL) (Port + Airport) Rotterdam 1 Montea has concluded an agreement with Urban Industrial for the acquisition of two buildings in ‘s Hertogenbosch and Zwolle, both currently leased to Tilburg Port of Zeeland PostNL. In ‘s Hertogenb
Slide 15: Tilburg and GVT portfolio (NL)
1 2 2a 2b Tilburg (NL) GVT portfolio (NL) At the start of 2022, Montea and a private investor have reached 1 Montea has bought three new-build projects in the an agreement on the purchase of the logistics building in Tilburg Netherlands, which GVT Transport & Logistics will lease for leased by the B
Slide 16: Lembeek and Ghent (BE) acquisitions
1 2 Antwerp Port of Zeebrugge (Port + Airport) Antwerp Port of Ghent Ghent 2 Brussels Liège 1 Ghent (BE) – Acquisition Q1 2022 Lembeek (BE) – Acquisition Q1 2022 Charleroi Montea reached in Q1 2022 an agreement with In Lembeek, located near the access road to the Brussels TransUniverse Forwarding N.
Slide 17: Tiel and Waddinxveen (NL)
1 2 Tiel (NL) 2 1 Waddinxveen – phase 1 (NL) In September 2018, Montea acquired a site with a total area of 47.9 ha in Tiel, where in Q3 Montea has started building Acquisition of plot of land (120,000 m²) in Q3 2020 on a a 9,700 m² recycle and distribution centre for Re-Match. In Q1 strategic locat
Slide 18: Strong balance sheet
Strong balance sheet Shooting Debt ratio (%) capacity: 56.4% 51.3% 52.8% 52.1% 55.8% 51.6% 51.9% 51.3% 300 M€ 50.1% 47.6% 49.9% towards 50% 39.4% 38.0% 38.6% 41.1% 41.1% 31/03/2022 (without taking into account further portfolio revaluation) 18
Slide 19: Financial KPI's
Financial KPI’s EPRA Cost Ratio & EPRA NIY NET DEBT / EBITDA & ICR 12.0 8.0 14.50% 13.3% 6.7 7.0 10.0 6.2 12.3% 6.2 6.0 5.5 11.7% 8.0 4.5 5.0 9.3% 9.8 8.8% 8.8%1 6.0 3.5 4.0 9.50% 3.0 8.3% 8.2 3.0 4.0 7.4 6.6% 6.5% 7.2 6.4% 8.7 9.6 9.9 2.0 6.0% 5.5% 2.0 4.9% 4.9%2 1.0 4.50% 0.0 0.0 2016 2017 2018 20
Slide 20: Well diversified long term financing
Well diversified long term financing (impact of € 235 M Green Bonds included) Financing sources Maturity (y) Maturity creditlines & bonds 120.00 100.00 36% 80.00 6.8 60.00 5.7 64% 40.00 < 1% 20.00 0.00 MATURITY MATURITY '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32 '33 '34 '35 '36 BANKS BONDS LEASING
Slide 21: Evolution of EPRA result per share & dividend per share
Evolution of EPRA result per share & Dividend per share (€) + 10% (*) As of 2016: EPRA result per share instead of Net Current Result (**) DPS subject to General Shareholders’ Meeting in May 2022 EPS DPS Q1 EPS Q1 EPS excl. One-off In 2021 Montea received a one-off payment whereupon Montea waived it
Slide 22: Highlights Q1 2022, Track '24, ESG, Appendix
Highlights Q]1 2022 ESG Appendix
Slide 23: EPS and DPS growth targets to 2024
❑ EPS growth to € 4.30 in 2024 2020 2024 ( > 20% increase compared to 2020) € 3.50 EPRA earnings/share € 4.30 ❑ DPS growth to € 3.45 in 2024 ( > 20% increase compared to 2020) € 2.83 Dividend/share € 3.45 ❑ Investment volume growth of over € 800 million in 4 years ✓ Since the beginning of 2021, an i
Slide 24: Developments & land positions, CAPEX Track '24
* Land acquisition occured before 2021 CAPEX TRACK'24 Country Location Landbank Land (sqm) GLA (sqm) Delivery Tenant Lease duration 2021-2024 Average BE Antwerp 13,000 m² 4,300 m² Q1 '21 DHL Express 15 y 11 M€ lease duration NL Schiphol 4,400 m² 4,400 m² Q1 '21 Amazon Logistics 10 y 1 M€ (excl. land
Slide 25: Acquired landbank
Acquired landbank TOTAL LANDBANK 1.9 mio m² Market value Market value/m² ACQUIRED LANDBANK 1.4 mio m² of of € 276 mio 189€/m² UNDER CONTROL 0.5 mio m² 66% yielding ✓ 100% situated in logistic & industrial zonings @ 4% ✓ Future development potential ± 1.0 mio m² ✓ Extension potential of current portf
Slide 26: Blue Gate Antwerp and Tongeren (BE)
1 2 Antwerp Port of Zeebrugge (Port + Airport) Port of Ghent 1 Antwerp Ghent Blue Gate, Antwerp (BE) 2 Brussels Liège Montea is developing an 8,438 m² sustainable delivery station Tongeren (BE) at Blue Gate Antwerp. This development is fully pre-let to Charleroi Amazon Logistics for a fixed period o
Slide 27: Etten-Leur (NL)
Etten-Leur (NL) Bas Service Oriented has signed a lease for a fixed period of 8 years for the develoment of a new distribution centre of ca. 26,500 m² on the Vosdonk industrial estate in Etten-Leur. Montea started the development in Q3 2021 and expects to deliver the distrubution centre at the end o
Slide 28: Solar panels in the Netherlands, France and Belgium
Solar panels in The Netherlands Solar panels in France 61% of the portfolio of warehouses in the In addition to Belgium and the Netherlands, Netherlands has already been fitted with PV installations are also planned in France. solar panels. Montea aims to increase this The installation has already b
Slide 29: Evolution of EPRA result per share & dividend per share
Evolution of EPRA result per share & Dividend per share (€) + 7% (*) As of 2016: EPRA result per share instead of Net Current Result (**) DPS subject to General Shareholders’ Meeting in May 2022 EPS DPS 29
Slide 30: Highlights Q1 2022: ESG
+ Fs = Highlights Q] 2022 Track’24 ESG Appendix
Slide 31: Read the full 2021 Sustainability Report
Read the ful = 2921 Sustainability | Report AY ante
Slide 32: Sustainable business part of our DNA
Sustainable business has always been part of our DNA. Our track record in recent years is the clearest evidence of our commitment to sustainable value growth rather than short-term profit. We took essential steps to convert the Montea DNA into a clear vision and sustainability strategy for the mediu
Slide 33: Energy efficient, well-being, sustainable and flexible development
ENERGY EFFICIENT AND LOW CO2 10. Monitoring of all major energy consumers ensures more efficient use of energy and awareness. 11. High-yield solar panels combined with energy storage ensure optimal use of renewable energy. 12. High-tech heat pumps generate renewable energy. In this way, our sites ar
Slide 34: Social involvement and training of Monteaneers
We encourage social involvement among the Monteaneers. We participated in the Wings for Life Worldrun, supporting research into spinal injuries. We also support local organizations. ▪ motivated Monteaneers ▪ years experience in real estate per ➢ Strengthen recruitment ➢ Create a learnability ➢ Launc
Slide 35: ESG international ratings
Rating Latest scores Evolution 2021 BRONZE SILVER Silver Award Hi gh a dherence to s BPR. Score between 70% & 85% ESG international ratings 2020 2021 2021 32% 69% Green Star wi th a s core of 69% 2020 2021 35
Slide 36: Appendix
Highlights Q1]1 28922 Track’24 ESG ch Appendix
Slide 37: Montea NV is a public regulated real estate company
Montea NV is a public regulated real estate company (“RREC”) under Belgian law (SIR – SIIC), specializing in the development and the management of logistics property in Belgium, France, The Netherlands and Germany (“Montea” or the “Company”). The company is a leading player in this market. Montea li
Slide 38: Long-term investment in sustainable logistics real estate
When Montea invests in logistics real estate, we are fully intent on keeping it in our portfolio for a long time. That is why we are strongly committed to high quality, sustainable finish and materials. This applies to investment in existing buildings as well as to the way in which we develop logist
Slide 39: Space to grow through flexible real estate solutions
✓ Montea literally offers its clients space to grow, through flexible and innovative real estate solutions. That is why Montea maintains an extensive network of estate agents, landowners, property developers and contractors. ✓ Montea converts its market knowledge into high-quality real estate invest
Slide 40: Montea key concepts
Montea acts in accordance with the following key concepts: ✓ WAREHOUSING ✓ PURE PLAYER ▪ Land value has a higher share in the total value ▪ Ambition to be best in class through than in other asset classes specialisation (Logistics, Real estate & Finance) ▪ Life cycle of warehousing ▪ Ambition to be
Slide 41: Shareholder base
Shareholder base (based on transparency notifications) ✓ Montea is the result of Pierre De Pauw’s 62% lifework, who has been one of the Belgian pioneers in logistic real estate since the late 1960s 4% 6% ✓ The IPO of Montea in 2006 was the start 5% 13% of a strong growth path 4% 6% Family De Pauw Be
Slide 42: Shareholder IRR since IPO
A shareholder, who ▪ invested at the IPO (2006) and ▪ always participated in the optional dividend realizes an IRR of 13.6% per 31/03/2022 (over 16 years). 42
Slide 43: Montea group legal structure
Montea Management NV Montea NV Europand Eindhoven B.V. Montea Nederland N.V. SCI MM1 Montea Tiel N.V. Montea SA (Branch Office) SCI APJ SFG B.V. SCI Socrate Montea ‘s Heerenberg N.V. Blue Gate Antwerp Invest NV Montea Beuningen N.V. SCI Sévigné Montea Services BV Montea Oss N.V. SCI Saxo Gula NV Mon
Slide 44: Forward-looking statements
This presentation contains forward-looking statements. Such forward-looking statements involve unknown risks, uncertainties and other factors which may cause the actual results, financial conditions, performance or achievements of the company to be materially different from any future results, perfo