Slide 1: Q3 2021 Virtual road show
Q3 2021 Virtual road show November 2021
Slide 2: Table of contents
Table of contents 1. Introduction & Highlights 2. Disposal Program 3. Operational Results 4. Management Agenda 2
Slide 3: Introduction: Company Profile post French Transaction
Introduction Company Profile post French Transaction Key Facts1) Number of shopping centers 22 Average size 26,700 m² Number of shopping center 51.5 m visitors (9M 2021) Net loan to value ratio 42 % Occupancy shopping centers 95.3 % 9 EPRA NIY shopping centers 6.0 % WALT2) 6.1 years Development pipe
Slide 4: Company Profile: Portfolio Breakdown by value
Introduction Company Profile Portfolio Breakdown by value Portfolio Breakdown by value Offices 5% Netherlands 44% Belgium € 1.9bn 47% € 1.9bn Shopping centers 95% France 9% 4
Slide 5: Key Messages
Key Messages • Major step in phasing out France completed: sold four out of six French assets for € 305m • Net LTV down to 42% • French organization willb e closed per year-end 2021, generating cost savings in 2022 • Stable occupancy and high rent collection underpin resilience of the portfolio • Be
Slide 6: Highlights 9M 2021
Highlights 9M 2021 9M 2020 9M 2021 Change Direct result per share (€) 1.59 1.47 (0.12) Indirect result per share (€) (3.78) (7.17) (3.39) Total result per share (€) (2.19) (5.70) (3.51) FY 2020 9M 2021 Change EPRA NTA per share (€) 27.74 21.47 (6.27) Net LTV 46.7% 42.0% -4.7pp NPS (Benelux) +4 +23 +
Slide 7: Table of contents
Table of contents 1. Introduction & Highlights 2. Disposal Program 3. Operational Results 4. Management Agenda 7
Slide 8: Disposal Program Benelux finalized
Disposal Program Benelux finalized WoensXL Covid-19 Emiclaer Etten-Leur Koningshoek Announcement of Investment Sold Sold disposal Sold market standstill 2020 2020 2020 2020 2020 2021 2021 Feb Feb-Mar Q2-Q3 H2 Year-end Q1 Q2 4 assets on the Marketing market In de Bogaard 4 assets Initially good inves
Slide 9: Financial Impact French transaction
Financial Impact French transaction Loan-to-value (%) DRPS Full Year Outlook (€) 1.80 – 2.00 1.80 – 1.85 -4% -0.13 47% 46% 42% 2021 (Q1 outlook) Lighthouse Deal 2021 (Q3 outlook) EPRA NTA per share (€) 30-40% 26.33 -5.06 21.47 0.20 FY 2020 Q2 2021 Q3 2021 Target Q2 2021 Lighthouse Deal Other Q3 2021
Slide 10: Two Remaining French Assets
Two Remaining French Assets Côté Seine (Argenteuil, Paris) Mériadeck (Bordeaux) Successfully transformed from a fashion focused center to a Historically challenging asset successfully improved with big box convenient shopping destination with healthy occupancy levels offering and recently secured an
Slide 11: Valuations start to rise in Belgium and are stabilizing in the Netherlands
Valuations start to rise in Belgium and are stabilizing in the Netherlands EPRA NIY Wereldhave Shopping Centers 7.0% • Finally overall portfolio yield stability due to stronger investment market • In Belgium yield remained stable over the past years 6.0% • Values in Q3 started to rise again • In the
Slide 12: Disposals accelerate several of our key strategic objectives
Disposals accelerate several of our key strategic objectives Focus on Target 2020-2022 Phase out France 4 out of 6 assets sold Divestment program NL / BE Completed Restructuring balance sheet LTV decreased by 4%-points after French transaction FSC concepts, for e.g. entertainment, F&B and fashion, c
Slide 13: Table of contents
Table of contents 1. Introduction & Highlights 2. Disposal Program 3. Operational Results 4. Management Agenda 13
Slide 14: Occupancy rates
Occupancy rates EPRA Occupancy rate Shopping Centers 96.2% 96.0% 96.4% 96.6% 96.0% 95.3% 94.8% 94.9% 94.9% 94.8% 95.0% 94.9% 94.4% 93.5% 92.8% 90.6% Belgium France Netherlands Shopping centers H1 2020 FY 2020 H1 2021 Q3 2021 14
Slide 15: Footfall
Footfall Change in visitors versus the same period previous year (%) 11.3% 4.9% 5.0% 0.4% 0.2% 1.1% -0.5% -1.9% -13.6% -13.2% -14.7% -17.7%-17.7% -17.4% -16.5% -22.7% -22.8% -28.0% -30.1% -33.5% Belgium France Netherlands Shopping centres FY 2019 June 2020* FY 2020 H1 2021 Q3 2021 15
Slide 16: Rent collection back to normalized levels in the Benelux
Rent collection back to normalized levels in the Benelux Footfall shows sharp rebound Footfall growth versus same period last year, year-to-date Rent collection rates 9M 20211) 200% 97% 96% 95% 150% 81%2) 100% 50% 0% 2 3 4 5 6 7 8 9 1011121314151617181920212223242526272829303132333435363738394041 -5
Slide 17: Upgrading amenities and adding services increases customer satisfaction
Upgrading amenities and adding services increases customer satisfaction Top improvements mentioned Rising Net Promotor Score The Point, Play & Relax, electric bike charging, stroller loan to 23 parents, health & relaxation offer, F&B and leisure offer, toilet facilities 16 8 9 0 2020 Q1 2020 Q2 2020
Slide 18: Het servicehart
Het servicehart van Cityplaza Informatie Pakketpunt Nesiatelir AED EHBO Gevonden voorweren Cadeaukoare automat peo | Shop nuookontine bij | ‘winkelcentrum Presikhaaf } q A ~*) Presikhas connect presikhaaf.nl/conne
Slide 19: UpNext is our full service PopUp concept
UpNext is our full service PopUp concept Available in two levels: Shop or Premium From a temporary store with your own fitout and staff To a fully serviced, designed, outfitted and staffed store 19
Slide 20: UpNext is an easy access accelerator for our business model
UpNext is an easy access accelerator for our business model 1. Retailer Support 2. Vacancy Management 3. Attracting new retailers Selling overstock of seasonal Is a tactical way to use available Creating easy access for new types products space with new and refreshing of tenants to enter our centers
Slide 21: LifeCentral progress 2021
LifeCentral progress 2021 • Started transformation of Kortrijk • Finalized Fresh Street, according to our Fresh Food Zone concept, in De Koperwiek • Finalized design of day and evening F&B concepts • Signed multiple mixed use leases (e.g. laser clinic, dietician and blood bank in Presikhaaf, Arnhem)
Slide 22: Transform Sterrenburg into convenience focused FSC
Transform Sterrenburg into convenience focused FSC Scheduled completion in 2022 Well-balanced offer to fulfill all everyday life needs Restore the retail balance and become a convenience focused FSC with a modest mixed-use offering, mainly focused on daily needs. Reducing relative traditional retail
Slide 23: Transform Vier Meren to FSC
Transform Vier Meren to FSC Scheduled completion in 2022 Design finalized Well-balanced offer to fulfill all everyday life needs Restore the retail balance and become a FSC with an extensive mixed-use offering, mainly focused on F&B and leisure Densely populated locations High household income area
Slide 24: Transform Tilburg to FSC (City)
Transform Tilburg to FSC (City) Scheduled completion in 2022 9% Well-balanced offer to fulfill all everyday life needs 3% Becoming ‘The shopping destination’ of the complete area with an Current optimal combination of retail, a broad variety of F&B, leisure and division multiple services for visitor
Slide 25: Transform Kortrijk to FSC
Transform Kortrijk to FSC Scheduled completion in 2022 Well-balanced offer to fulfill all everyday life needs Restore the retail balance by adding a balanced mix of other uses like a fresh food area, an exterior F&B zone and a new leisure & entertainment building Densely populated locations High hou
Slide 26: Our ESG track-record improves every year
Our ESG track-record improves every year Wereldhave is a top-5 ESG performer in the European listed real estate sector (GRESB) #2 listed shopping center company in Europe 93 A- 91 91 90 B B C C C 82 82 82 Upgraded from BBB Sixth year in a row in 2021 2015 2016 2017 2018 2019 2020 2021 2015 2016 2017
Slide 27: Outlook 2021
Outlook 2021 Outlook for 2021 direct result per share will come out at € 1.80 – 1.85 Direct Result per share (€) Dividend per share (€) • Outlook now at the upper end of the previous range 3.45 3.43 3.08 3.08 3.33 • Assumed no further lockdowns during the remainder of the year and 2.81 2.52 includin
Slide 28: Table of contents
Table of contents 1. Introduction & Highlights 2. Disposal Program 3. Operational Results 4. Management Agenda 28
Slide 29: We will deliver on our ambitions
We will deliver on our ambitions Focus on Target 2020-2022 Progress 02/21 10/21 Phase out France Phase out France Divestment program NL / BE Dispose assets with book value of € 225m - € 275m Restructuring balance sheet Lower LTV to 30-40% FSC concepts, for e.g. entertainment, F&B and fashion, comple