Epic Suisse Ltd. · SIX:EPIC
Epic Suisse — H1 2026 Earnings Presentation
37 slides from Epic Suisse's earnings presentation, Aug 25, 2026
Slide 1: Half-Year Report 2026
Half -Year Report 2026 25 August 2026
Slide 2: Disclaimer
Disclaimer This publication may contain specific forward -looking statements, e.g . These APM should be regarded as complementary information to and statements including terms like "believe", "assume", "expect", "forecast", not as substitutes of the Group’s consolidated financial results based on "p
Slide 3: Agenda
Half -Year Report 2026 Agenda • Market overview • EPIC at a glance • Highlights • Key figures • Disposal • Developments • Outlook
Slide 4: Switzerland macroeconomic outlook
Switzerland macroeconomic outlook Swiss Consumer Price Index (CPI) with forecast data (1) Swiss Consumer Sentiment Index (2) As of June 2026 As of July 2026 2.8% 0 2.1% (10.0) 1.1% 0.9% 0.7% 0.6% 0.6% 0.6% (20.0) 0.5% 0.4% 0.2% 0.2% 0.0% (30.0) (34.8) (0.2%) (0.4%) (0.7%) (0.7%) (40.0) (1.1%) 2010 '
Slide 5: Agenda
Half -Year Report 2026 Agenda • Market overview • EPIC at a glance • Highlights • Key figures • Disposal • Developments • Outlook
Slide 6: EPIC's 1.7 billion CHF portfolio by June 2026
EPIC’s 1.7 billion CHF portfolio by 30 June 2026 Portfolio by region Portfolio by use Based on market value Based on market value 24 363’148 m 2 4.1 % 7.6 years Properties Rentable area Net rental income yield WAULT of properties in operation of properties in operation (1) (annualised) Notes: August
Slide 7: Agenda
Half -Year Report 2026 Agenda • Market overview • EPIC at a glance • Highlights • Key figures • Disposal • Developments • Outlook
Slide 8: Highlights of the first Half-Year 2026
Highlights of the first Half -Year 2026 1 Rental income grew by 4.0% to CHF 34.7 million in H1 2026 versus CHF 33.4 million in H1 2025 (0.5% on a like -for -like basis) 2 Reported vacancy rate (1) at 9.4% in H1 2026 and 3.8% in H1 2025 ; adjusted vacancy rate (2) at 2.9% in H1 2026 (n/a in H1 2025)
Slide 9: Agenda
Half -Year Report 2026 Agenda • Market overview • EPIC at a glance • Highlights • Key figures • Disposal • Developments • Outlook
Slide 10: Portfolio key figures
Portfolio key figures Portfolio Unit 30 Jun 2026 31 Dec 2025 Variation Number of properties per segment # 24 (25 (1) / 2 (2)) 25 (26 (1) / 2 (2)) (1) [(1) /- ] (in operation / development) Disposal of Vennes III located Total portfolio CHF ('000) 1'665 '650 1'683'988 (1.1%) in Lausanne in May 2026 I
Slide 11: Balanced portfolio
Balanced portfolio Breakdown of the portfolio as at 30 June 2026 based on market value (1) Developments (2 assets) • The portfolio consists of 24 properties, with 2 properties divided into two segments (3) and one property considered as an extension of an existing Offices property (4) Mixed (15 asse
Slide 12: Portfolio value decreased by 1.1% as at June 2026
Portfolio value decreased by 1.1% as at 30 June 2026 compared to 31 December 2025 following the sale of our property Vennes III Portfolio market value evolution over the first half year 2026 -1.1% The 1.1% decline of the portfolio value is a direct result of the disposal of +1.4% the property Vennes
Slide 13: Net unrealised revaluation gain of CHF 13.8 million in H1 2026
Net unrealised revaluation gain of CHF 13.8 million in H1 2026 Net unrealised revaluation results comparison • All properties are revalued by Wüest Partner, an independent valuer, on 13,804 13,788 a semi -annual basis (30 June and 31 December) • In H1 2026, the revaluation of the properties resulted
Slide 14: Reported and adjusted vacancy rates
Reported and adjusted vacancy rates for properties in operation during the period Adjusted vacancy after excluding Campus Leman – Building C and PULSE (1) H1 2026 vacancy rates Reported Adjusted Offices (2) 3.4% 3.0% Vacancy rate 9.4% 3.1% 2.9% Retail 3.8% 3.8% Logistics/industrial (3) 0.2% 28.6% Pr
Slide 15: 0.5% like-for-like rental growth
0.5% like -for-like rental growth Rent evolution on a like -for -like basis (1) Sector L -f-l growth 34.7 H1 2026 versus H1 2025 33.4 1.2 0.2 2.3 Offices 2.1% Retail 0.5% Logistics/industrial (3.4%) in CHF million 32.4 32.2 Like -for -like (L -f-l) for properties in 0.5% operation during the period
Slide 16: Top 6 tenants with above-average WAULT of 9 years
Top 6 tenants with above -average WAULT of 9 years Net rental income Share WAULT Tenant group H1 2026 (CHF million) (% of total) (years) (4) Coop group (1) 6.6 19% Migros group (1) 2.9 8% GXO Logistics Switzerland S.A.G.L. 2.0 6% CHUV (2) 1.9 6% 89.5% of rental income is indexed according to Swiss K
Slide 17: Long leases with balanced expiry profile
Long leases with balanced expiry profile Expiry of investment properties’ lease contracts (1) Out of the leases expiring in 2026: based on 30 June 2026 rent • 59% relate to contracts: >53% expiring post December 2031 • with no fixed maturity; or • which were renewed / re -let 29.9% • 41% relate to a
Slide 18: Balance sheet key figures
Balance sheet key figures Balance sheet Unit 30 Jun 2026 31 Dec 2025 Variation Total assets CHF ('000) 1'697 '658 1'721'629 (1.4%) Equity (NAV) CHF ('000) 924 '266 920 '512 0.4% Equity ratio % 54.4% 53.5% 1.7% Mortgage -secured bank loans CHF ('000) 596 '022 617'106 (3.4%) Weighted average interest
Slide 19: NAV per share at CHF 82.49 by end of June 2026
NAV per share at CHF 82.49 by end of June 2026 IFRS NAV evolution over H1 2026 (7.0) 39.8 136.6 (0.3) (35.9) 0.2 in CHF million 1'053.9 920.5 924.3 IFRS NAV - H1 2026 results Dividend Share-based Delivery of IFRS NAV - Deferred tax Deferred IFRS NAV before 31 Dec 2025 distribution compensation share
Slide 20: Spread maturity bank debt profile
Spread maturity bank debt profile Bank debt by type as at 30 June 2026 As at 30 June 2026 Unhedged • Low financing costs – weighted average cost of debt of Fixed (hedged) CHF 120m 1.2% CHF 252m • Broad range of bank debt maturities – weighted average residual debt maturity of 3.4 years Bank debt Var
Slide 21: Profit or loss key figures
Profit or loss key figures Results Unit H1 2026 H1 2025 Variation Rental income from real estate properties CHF ( '000) 34 '749 33'406 4.0% Net operating income (NOI) CHF ( '000) 31'954 30 '635 4.3% Net gain (loss) from revaluation of properties CHF ( '000) 23'237 13'788 68.5% EBITDA (incl. revaluat
Slide 22: H1 2026 net rental income to EBITDA bridge
H1 2026 net rental income to EBITDA bridge 50'000 13'804 40'000 1'142 (3'937) 9'433 in CHF '000 30'000 (3'818) 51'373 20'000 35'891 37'569 34'749 31'954 28'136 10'000 - Rental income Other income Total income Direct Net operating Other EBITDA (excl. Gain on EBITDA (excl. Unrealised EBITDA (incl. fro
Slide 23: Rental income, NOI and EBITDA comparison
Rental income, NOI and EBITDA (excl. disposal and unrealised revaluation of properties) comparison Net rental income Net operating income EBITDA (NOI) (excl. disposal and unrealised revaluation of A - NRI yield % (1) 4.1(2) 4.0 properties) B - NRI yield % (1) 4.1(2) 4.5 A - Margin % (3) 89.0 89.4 78
Slide 24: Information per share key figures
Information per share key figures Information per share Unit 30 Jun 2026 31 Dec 2025 Variation Number of shares outstanding at period end # ('000) 11'205 11'205 = - Net asset value (NAV) per share CHF 82.49 82.15 0.4% Share price on SIX Swiss Exchange at period end CHF 82.60 87.00 (5.1%) H1 2026 H1
Slide 25: Agenda
Half -Year Report 2026 Agenda • Market overview • EPIC at a glance • Highlights • Key figures • Disposal • Developments • Outlook
Slide 26: Vennes III sold in May 2026, 23% above latest independent market value
Vennes III sold in May 2026, 23% above latest independent market value Key facts and figures Unit Overview Acquisition year of the land Year 2011 Completion of construction Year 2013 Total investment costs (1) CHF million 34.3 Annual IFRS rental income CHF million 1.7 Total rental income over owners
Slide 27: Agenda
Half -Year Report 2026 Agenda • Market overview • EPIC at a glance • Highlights • Key figures • Disposal • Developments • Outlook
Slide 28: Progress on ongoing and future development projects
Progress on ongoing and future development projects Ongoing development projects Future development project Campus Leman – Building D Tolochenaz (in planning) (1) • Campus Leman - Building D is the third • Strategic development site in canton Vaud with land size of circa 80’000 m 2 and potential bui
Slide 29: Agenda
Half -Year Report 2026 Agenda • Market overview • EPIC at a glance • Highlights • Key figures • Disposal • Developments • Outlook
Slide 30: Outlook
Outlook • Persistent geopolitical tensions, trade disputes and unpredictable policy changes across major economies continue to contribute to market volatility and global uncertainty. • Assuming no materially adverse impact on our operations going forward, we revise our rental income growth guideline
Slide 31: Appendix
DKA EPIC SUISSE Appendix
Slide 32: EPIC share price compared with SXI Real Estate & SPI indexes
rebased Notes: - 60.00 40.00 80.00 20.00 100.00 160.00 140.00 180.00 120.00 25 May 2022 30 Jun 2022 29 Jul 2022 31 Aug 2022 (1) Source: SIX Swiss Exchange 30 Sept 2022 31 Oct 2022 EPIC Suisse AG IPO 25 May 2022 30 Nov 2022 30 Dec 2022 (2) EPIC N (ISIN: CH0516131684) ; dividend 31 Jan 2023 28 Feb 202
Slide 33: Glossary of Alternative Performance Measures
Glossary of Alternative Performance Measures Adjusted vacancy rate (properties in operation) Reported vacancy rate (properties in operation) adjusted for absorption and strategic vacancy in certain properties in operation (classified as such) during the period (i.e. before any period -end transfers
Slide 34: Glossary of Alternative Performance Measures
Glossary of Alternative Performance Measures EBITDA (as defined) yield EBITDA (as defined) divided by the fair value of total real estate properties IFRS NAV Total equity as shown in the consolidated statement of financial position IFRS NAV (before net deferred taxes) IFRS NAV excluding deferred tax
Slide 35: Glossary of Alternative Performance Measures
Glossary of Alternative Performance Measures Net rental income yield (total portfolio) Net rental income of the total portfolio divided by the fair value of total real estate properties Profit (excl . unrealised revaluation effects) Profit after tax before other comprehensive income excluding unreal
Slide 36: Glossary of Alternative Performance Measures
Glossary of Alternative Performance Measures Vacancy Sum of the target rental income of vacant units WAULT (weighted average unexpired lease term) Weighted average unexpired lease term (in number of years) calculated as the sum -product of lease maturities based on contract expiration and correspond
Slide 37: EPIC Suisse AG
EPIC Suisse AG Seefeldstrasse 5a 8008 Zurich +41 44 388 81 00 investors@epic.ch