Globe Trade Centre S.a. · GPW:GTC
Globe Trade Centre — Q1 2026 Earnings Presentation
23 slides from Globe Trade Centre's earnings presentation, Jun 1, 2026
Slide 1: Q1 2026 Results
STRONG FOUNDATIONS Q1 2026 RESULTS 1 June 2026 www.gtcgroup.com
Slide 2: Contents
STRONG FOUNDATIONS CONTENTS Key highlights Q1 2026 3 Portfolio 5 Financials 8 Appendices 13 2 www.gtcgroup.com Q1 2026 RESULTS
Slide 3: Financial Results Q1 2026 vs. Q1 2025
FINANCIAL RESULTS Q1 2026 vs. Q1 2025 STRONG FOUNDATIONS €53m • Revenues from rental activity +7% YoY to €53.3m in Q1 2026 (€49.8m in Q1 2025); with underlying LfL Revenues from 4% YoY rental activity • Gross margin from operations +16% YoY to €37.4m in Q1 2026 (€32.3m in Q1 2025) €16m • Adjusted EB
Slide 4: Contents
STRONG FOUNDATIONS CONTENTS Key highlights Q1 2026 3 Portfolio 5 Financials 8 Appendices 13 4 www.gtcgroup.com Q1 2026 RESULTS
Slide 5: GTC Operates and Develops a Diversified Portfolio of Property Investments
GTC OPERATES AND DEVELOPS A DIVERSIFIED PORTFOLIO OF PROPERTY INVESTMENTS STRONG FOUNDATIONS TOTAL INVESTMENT PORTFOLIO (BOOK VALUE)(1) COMMENTARY Projects under Residential income generating assets construction + 89% of adjusted total investment portfolio is income generating 5% 16% portfolio Landb
Slide 6: Commercial Portfolio
COMMERCIAL PORTFOLIO STRONG FOUNDATIONS 14,000 sqm RETAIL OFFICE 13,500 sqm Leasing activity Leasing activity reached in Q1 2026 reached in Q1 2026 95% 83% Occupancy as of 31 March 2026 Occupancy as of 31 March 2026 (96% as of 31 December 2025) (83% as of 31 December 2025) 31 MARCH 2026 OCCUPANCY RA
Slide 7: Contents
STRONG FOUNDATIONS CONTENTS Key highlights Q1 2026 3 Portfolio 5 Financials 8 Appendices 13 7 www.gtcgroup.com Q1 2026 RESULTS
Slide 8: Consolidated Income Statement
STRONG FOUNDATIONS CONSOLIDATED INCOME STATEMENT CONSOLIDATED RESULTS GROUP EXCL. COMMENTS CONSOLIDATED GERMANY GERMANY (€m) Q1 2025 Q1 2026 YoY Q1 2025 Q1 2026 Q1 2025 Q1 2026 1+ The increase was driven mainly by higher rents in Poland, particularly in Revenue from rental 1 49.8 53.3 7% shopping ma
Slide 9: Consolidated Cash Flow
CONSOLIDATED CASH FLOW STRONG FOUNDATIONS CONSOLIDATED RESULTS (€m) Q1 2025 Q1 2026 COMMENTS Operating activities Operating cash before working capital changes 26 31 1 The increase is driven largely by better operating cash flow before Add / deduct: working capital items and lower tax paid, whilst w
Slide 10: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION STRONG FOUNDATIONS CONSOLIDATED RESULTS COMMENTS (€m) 31 Dec. 2025 31 March 2026 Investment properties 1 2,575 2,577 1+ Capitalized expenditures on properties under construction (mainly Residential landbank 29 29 CP III) offset by negative fair value move
Slide 11: Overview of Key Credit Metrics
OVERVIEW OF KEY CREDIT METRICS STRONG FOUNDATIONS KEY CREDIT METRICS DEBT MATURITY (€m) Loans to be recycled Bonds Regular amortization 593 648 In Oct’25 the Group refinanced its existing c. €1.6b 3.2y 18 4 Eurobonds by issuing new senior secured notes total net debt Weighted average debt maturity (
Slide 12: Contents
STRONG FOUNDATIONS CONTENTS Key highlights Q1 2026 3 Portfolio 5 Financials 8 Appendices 13 12 www.gtcgroup.com Q1 2026 RESULTS
Slide 13: Leading Commercial Real Estate Platform
LEADING COMMERCIAL REAL ESTATE PLATFORM STRONG FOUNDATIONS book value GLA ASSETS LOCATION BY GAV GTC investments # % (€m) (ths. sqm) Other¹ Germany Income generating (a+b+c) 5,212 2,326 85% 1,048 5% 17% a) Office 37 1,162 43% 518 TOTAL Capital cities INVESTMENTS Hungary GAV outside of b) Retail 6 71
Slide 14: Office Portfolio Overview
OFFICE PORTFOLIO OVERVIEW STRONG FOUNDATIONS Sustainable high occupancy of prime office buildings provides solid recurring income OFFICE ASSETS OVERVIEW GREEN CERTIFICATION BREEAM 98% 38% assets with green €1,162m 37 518,000 7.4% certification GAV buildings sqm GLA Yield or under recertification LEE
Slide 15: Retail Portfolio Overview
RETAIL PORTFOLIO OVERVIEW STRONG FOUNDATIONS Landmark shopping centers in local markets GREEN CERTIFICATION RETAIL ASSETS OVERVIEW BREEAM 31% LEED 57% 100% assets with green €711m 6 205,000 7.5% certification GAV buildings sqm GLA Yield DGNB 12% OCCUPANCY RATE LOCATION by GAV Budapest Zagreb Belgrad
Slide 16: Residential Portfolio Overview
RESIDENTIAL PORTFOLIO OVERVIEW STRONG FOUNDATIONS RESIDENTIAL ASSETS OVERVIEW LOCATION by GAV €453m 325,000 Other 7% Kaiserslautern Schöningen 46% GAV sqm GLA 10% Helmstedt 15% GAV €453m 5,200 84% residential units Occupancy Heidenheim 22% OCCUPANCY AVERAGE HEADLINE RENTAL RATE (€/sq m) 83% 85% 86%
Slide 17: Development Projects
DEVELOPMENT PROJECTS STRONG FOUNDATIONS Active development represents 6% and land reserve accounts for 5% of portfolio book value UNDER CONSTRUCTION Budapest Berlin 83% 17% (office) (residential) €143m 4 54,300 GAV Properties¹ sqm GLA Senior housing for rent in Berlin 36,000 sqm new office space
Slide 18: Green Certification - Retail & Office
GREEN CERTIFICATION - RETAIL & OFFICE STRONG FOUNDATIONS Sustainability is our goal GREEN INCOME PRODUCING OFFICE AND RETAIL ASSETS (BOOK VALUE) BREEAM 31% LEED 57% BREEAM BREEAM 38% 98 % 100 % 99 % 35% assets with green certification assets with green assets with green or under recertification cert
Slide 19: Debt and LTV
DEBT AND LTV STRONG FOUNDATIONS (€m) 31 DEC. 2025 31 MARCH 2026 Loans and bonds 1,914 1,636 Deferred debt expenses 51 49 Bank loans and bonds 1,965 1,685 Escrow accounts (17) (19) Cash & cash equivalents & deposits (398) (95) Net debt (incl. escrow accounts) 1,550 1,571 Investment property 2,574 2,5
Slide 20: Useful Information
USEFUL INFORMATION STRONG FOUNDATIONS INVESTOR CONTACT ESG Michał Kuzawiński Director of Investor Relations and Ownership Supervision michal.kuzawinski@gtcgroup.com www.gtcgroup.com Corporate governance ESG HEADQUARTERS WWW 45A Komitetu Obrony Robotników Nothus building 02-146 Warsaw +48 (22) 16 60
Slide 21: Definitions (1/2)
DEFINITIONS (1/2) STRONG FOUNDATIONS AVERAGE YIELD calculated as in-place rent divided by fair value of asset FFO means Adjusted EBITDA less interest (paid)/received net less tax paid in the period; ADJUSTED EBITDA means the consolidated result before tax, finance cost, finance income, foreign excha
Slide 22: Definitions (2/2)
DEFINITIONS (2/2) STRONG FOUNDATIONS NET DEBT means long-term and current portion of borrowings plus long-term borrowings’ acquisition costs net of cash and cash equivalents, non-current and current blocked deposits and, if applicable cash and cash equivalents, blocked deposits, and short-term block
Slide 23: Disclaimer
DISCLAIMER STRONG FOUNDATIONS THIS PRESENTATION IS NOT FOR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN. THIS PRESENTATION IS NOT AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES. BY ATTENDING OR VIEWING THIS PRESENTATION,