Slide 1: Full-year results for 2025
Full-year results for 2025 Webcast – 25 February 2026 is) n Saint-De (Seine- Ouen- Saint wa – Re i
Slide 2: Disclaimer
Disclaimer 2 The information contained in this document has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions containe
Slide 3: Contents
Contents 3 FULL-YEAR RESULTS FOR 2025 01. 02. 03. 04. Introduction Business Financial results Outlook activity for 2025 in 2025
Slide 4: Introduction
01. Introduction Re i wa – Sain t- Ouen (Seine -Saint- Denis) FULL-YEAR RESULTS FOR 2025 04
Slide 5: Bold actions by management, Nexity ready to rebound
01. Introduction Bold actions by management, Nexity ready to rebound 05 1 Derisked, deleveraged balance sheet 2025 leverage ratio: 4.9x, FULL-YEAR RESULTS FOR 2025 ahead of the anticipated 2 Robust results due to return to operating profitability trajectory (1) 3 Consolidation of our leadership posi
Slide 6: Derisked, deleveraged balance sheet
01. Introduction Derisked, deleveraged balance sheet 06 Decisions made in an office market at a cyclical low Net financial debt €328m FULL-YEAR RESULTS FOR 2025 WCR at end-December 2025: €606m, down ~30% Down €52m before the increase in the shareholding in (-€226m) Angelotti (1) Over 2 years: net fi
Slide 7: Robust results due to return to operating profitability
01. Introduction Robust results due to return to operating profitability 07 Margins restored in Residential Real Estate in line with expectations • Rising contribution at the pace expected under the percentage-of-completion method from project launches FULL-YEAR RESULTS FOR 2025 with commitment marg
Slide 8: Consolidation of our leadership position
01. Introduction Consolidation of our leadership position 08 Leader in the homebuyer segment +19% vs 2024 to close to 2,600 units (vs +4% for the market (1)) Reservations 7,450 bulk sales (62% of the mix) FULL-YEAR RESULTS FOR 2025 26% market share in Q4 >12,000 in 2025, in a market down 11% Backlog
Slide 9: New Nexity, fully operational
01. Introduction New Nexity, fully operational 09 09/01/2025 Year-end 2025 Announcement of the Operational implementation: New Nexityoperational Ongoing launch of New Nexity • Upskilling in regions across all products • Multi-product regional organisation ramp-up • Central business expertise strengt
Slide 10: Housing: a key item on the political agenda in 2026 and 2027
01. Introduction Housing: a key item on the political agenda in 2026 and 2027 10 Local National Housing: a key issue Housing recovery built into for municipal elections (03/26) budget bill for 2026 Encouraging buy- Personal contribution 72% FULL-YEAR RESULTS FOR 2025 to-let investment reduced to €15
Slide 11: An agile leader ready to meet demand from each of its markets
01. Introduction Nexity will 03. 2025 continue budgetary adapting in a market approaching a turning point principles 11 Market data – FPI An agile leader ready to meet demand from each of its markets 168k 167k 167k 162k 10-year average • Nexity, a partner to nearly 100 regional and national 149k 140
Slide 12: Business activity in 2025
02. in 2025 Business activity Re i wa – Sa int-O ue n ( Seine - Saint- De nis) 12 FULL-YEAR RESULTS FOR 2025
Slide 13: Business activity – Main indicators
02. Business activity in 2025 Business activity – Main indicators 13 Supply for sale (5,447 units): -4% vs 2024, +7% vs 30 September 2025 • Absorption rate stable at ~5 months Reservations: 12,008 units, -10% vs 2024 (-11% for the market) Residential Real Estate • Retail sales: -13% by volume; -10%
Slide 14: Supply for sale aligned with market conditions
02. Business activity in 2025 Supply for sale aligned with market conditions 14 Supply for sale stable at ~5,000 units, aligned with market conditions (up a modest 3% vs 30 June 2025) Breakdown of supply for sale by project stage Absorption Absorption rate stable at 5 months, rate 7 securing supply
Slide 15: New home reservations: ongoing improvement in trends in 2025
02. Business activity in 2025 New home reservations >12,000 reservations during the year: ongoing improvement in trends in 15 2025 Nexity has outperformed the (by volume) market (2) Q1 2025 H1 2025 9M 2025 12M 2025 Q1 2025 H1H12025 9M 2025 FY12M vs 2025 2024 (1) in all segments for the second vs Q1
Slide 16: Sales momentum supported by attractive supply for homebuyers
02. Business activity in 2025 Sales momentum supported by attractive supply for homebuyers 16 Strong momentum in launches Supply tailored to of attractive, selective developments customers’ purchasing power > 100 sales launches in 2025 related to retail sales 100% of supply eligible for PTZ in over
Slide 17: Client mix – 2025
02. Business activity in 2025 Client mix – 2025 17 18% Retail 17% 22% sales: 38% FULL-YEAR RESULTS FOR 2025 -1 pt vs 2024 Bulk 2025 mix reflecting 21% 12,008 39% sales: 62% continued strong momentum for reservations +1 pt vs 2024 homebuyers: Homebuyers: +5 pts 21% of total reservations, to 21% of th
Slide 18: Services: Strong momentum in both Serviced Properties and Distribution
02. Business activity in 2025 Services: Strong momentum in both Serviced Properties and Distribution 18 Serviced Properties Distribution Student residences Coworking Specialised in Pioneer and leader Leader with mkt share(1) >10% 91 sites at end-December 2025 property in bare ownership FULL-YEAR RES
Slide 19: Profitable pipeline, recalibrated to fit new market conditions
02. Business activity in 2025 Profitable pipeline, recalibrated to fit new market conditions 19 Leading indicators – Planning and Development (scope: France) Backlog (1) Business potential (2) Pipeline (3) FULL-YEAR RESULTS FOR 2025 €3.9bn + ~€8.8bn ~€13bn ~1.5 years’ revenue ~3.5 years’ revenue ~5
Slide 20: Financial results for 2025
03. for 2025 Financial results A th lete s’ Vi ll a ge – Sai nt-Ou en (Se ine-Sai nt-Denis ) FULL-YEAR RESULTS FOR 2025 20
Slide 21: Operational momentum and financial discipline evident in 2025 results
03. Financial results for 2025 Operational momentum and financial discipline evident in 2025 results 21 Current operating profit/(loss) Revenue Free cash flow €25m (1) €2,743m (1) €44m, FULL-YEAR RESULTS FOR 2025 vs €(118)m in 2024 -14% on a like-for-like basis, of which operating free cash flow: €1
Slide 22: 2025 revenue
03. Financial results for 2025 2025 revenue 22 Residential Real Estate (83% of revenue (1)): -5% vs 2024 (Under IFRS, in €m) Revenue reflecting a decline in business activity from projects underway due to the percentage-of- -14% completion method On a 3,205 like-for-like basis Commercial Real Estate
Slide 23: Return to operating profitability via 3 key drivers
03. Financial results for 2025 Return to operating profitability via 3 key drivers 23 Margins restored Rising contribution under the percentage-of-completion method from project launches 1 for Planning and Development – with target commitment margins (1) since the beginning of 2024 Residential Real
Slide 24: Current operating profit – New Nexity
03. Financial results for 2025 Current operating profit – “New Nexity” 24 (In millions of euros) 2024 2025 Change Planning and Development (100) 20 +120 Residential Real Estate (119) 13 +132 Commercial Real Estate 19 7 (12) New Nexity COP positive, at €25m: up €144m vs 2024 FULL-YEAR RESULTS FOR 202
Slide 25: Net profit incorporating impairment and disposals generating cash inflows
03. Financial results for 2025 Net profit incorporating impairment and disposals generating cash inflows 25 1 Finalisation of plan to dispose of Property Management and opportunistic approach mainly focused on commercial projects in a challenging market leading to decisions (disposals completed or i
Slide 26: Working capital requirement well under control
03. Financial results for 2025 Working capital requirement well under control 26 WCR down ~30% (-€226m) (In millions of euros) Dec. 2024 Dec. 2025 Change WCR for Planning and Development Planning and Development 749 588 (161) reduced by €161m (vs Dec. 2024) thanks to ongoing efforts: Residential Rea
Slide 27: Ongoing debt reduction drive: net financial debt of €278m before Angelotti
03. Financial results for 2025 Ongoing debt reduction drive: Net financial debt of €278m before the increased shareholding in Angelotti 27 (in millions of euros) Net financial debt at €328m, vs guidance (<€380m maximum) -16% €52m reduction excluding the FULL-YEAR RESULTS FOR 2025 increased sharehold
Slide 28: Financial structure at year-end 2025
03. Financial results for 2025 Financial structure at year-end 2025 28 Net debt structure Maturity of long-term debt (7) 240 (6) (in millions of euros) Dec. 2024 Dec. 2025 Change Bond issues and Long-term debt 156 (5) (fixed rate) 796 512 (283) purchase commitments Bank borrowings and Short-term deb
Slide 29: Leverage ratio: ahead of the anticipated trajectory
03. Financial results for 2025 Leverage ratio: ahead of the anticipated trajectory 29 2025 2026 2027 FULL-YEAR RESULTS FOR 2025 Trajectory financial covenants (1) <8.5x <7x ≤3.5x Leverage ratio (2) at year-end 2025: 4.9x (1) Level of the leverage ratio included in the banking covenants renegotiated
Slide 30: Outlook
04. Outlook Re i wa – Sa int-O ue n ( Seine - Saint- De nis) FULL-YEAR RESULTS FOR 2025 30
Slide 31: Ongoing deleveraging in 2026
04. Outlook Ongoing deleveraging in 2026 31 2025 2026 Restoring margins by launching projects in line with target margins (1) since 2024 Improvement in current FULL-YEAR RESULTS FOR 2025 Implementation of cost-saving measures (€100m in 2026) operating profit (COP) Profitability of Serviced Propertie
Slide 32: Outlook
04. Outlook Outlook 32 Guidance Improvement in operating profitability, with COP for New Nexity(1) up in 2026 FULL-YEAR RESULTS FOR 2025 Ongoing reduction in the leverage ratio, (2) with the swiftest possible return to a level below 3.5x, by 2027 at the latest Barring any deterioration in the macroe
Slide 33: Nexity, 67 rue Arago, Saint-Ouen-sur-Seine
Nexity 67 rue Arago 93400 Saint-Ouen-sur-Seine (France) Phone: +33 (0)1 85 55 19 12