Gav-yam Lands Corp. Ltd · TASE:GVYM
Gav-yam Lands — Q1 2026 Earnings Presentation
38 slides from Gav-yam Lands's earnings presentation, July 2026
Slide 1: Presentation for the Capital Market Q1 2026 Summary
Presentation for the Capital Market Q1 2026 Summary
Slide 2: Data in summary Q1 2026
Data in summary Q1 2026 Q1 2026 Summary revenue from leased property and NOI NOI for shareholders management fees 235 202 162 Company data ILS million ILS million ILS million FFO for shareholders per same property NOI increase management approach* Projects under development ILS 114 million 6.8 % Res
Slide 3: Data in summary Q1 2026
Data in summary Q1 2026 Q1 2026 Summary income-generating areas under development areas forecast of annual NOI from projects under development 1.3 259 thousand m2 282 Company data ILS million m2 ILS million value of investment real estate value of income-generating properties occupancy rate Projects
Slide 4: Data in summary 1-12.2025
Data in summary 1-12.2025 Q1 2026 Summary net financial debt liquid assets credit facility 9,258 855 515 Company data ILS million ILS million ILS million weighted avg. effective non-pledged properties Bond rating Projects under development interest, index-linked 2.05 % 100 % il AA S&P Maalot leverag
Slide 5: Data in summary – NOI Q1 2026 (ILS millions)
Data in summary – NOI Q1 2026 (ILS millions) Q1 2026 Summary *825-845 2026 759 forecast 692 2025 *660-680 Company data 2024 606 2026 553 forecast 1-3.2026 1-3.2025 % change 2025 2024 Projects under development NOI 202 179 13% NOI for shareholders 162 143 13% Residential Financial data NOI NOI FOR SH
Slide 6: Data in summary – FFO for shareholders
Data in summary – FFO for shareholders Q1 2026 (ILS millions) Q1 2026 Summary Company data 1-3.2026 1-3.2025 % change *450-460 2026 FFO per 432 forecast 407 114 104 10% FFO per management Projects under development 2025 management approach approach FFO per 2024 management approach FFO per FFO per Is
Slide 7: NOI and FFO forecasts for 2026-2028
NOI and FFO forecasts for 2026-2028* (ILS millions) Q1 2026 Summary NOI for shareholders FFO for shareholders per normalized Q4 management approach normalized Q4 52% 940-960 840-860 Company data 50% 690-710 640-660 632 580-600 Projects under development 465-485 440 Residential 2025 2026 2027 2028 20
Slide 8: Company data
Company data Simulation for illustrative purposes only
Slide 9: Projects under development
Haifa Q1 2026 Summary Afula Tirat Carmel 19 Caesarea Herzliya Raanana Company data Tel Aviv high-tech, logistics and industry parks Holon 97 16 Projects under development Beer Yaakov Lod Rehovot Ness Ziona % Yavne* Modiin Jerusalem occupancy rate cities nationwide Residential Financial data Negev *
Slide 10: Distribution of investment real estate value
Distribution 31 March 2026 of investment real estate value Q1 2026 Summary Income-generating real estate* ILS 13,152 million Real estate under construction Investment real estate value 2,959 Company data ILS million ILS 16,842 million 18% Projects under development 78% 4% Residential Land Financial
Slide 11: Income-generating property value
Income-generating 31 March 2026 property value Q1 2026 Summary 6.7% rate of return 1.3 million m2 80% Company data high-tech parks and offices 16% logistics and industrial Projects under development ILS * 13,152 milion Residential 4% Financial data retail * Excluding a property in Yavne, for which a
Slide 12: Home to the world's largest companies
Q1 2026 Summary Company data Projects under development Residential Financial data 12 Home to the world’s largest companies
Slide 13: Sustainability
Q1 2026 Summary Sustainability Company data Renewable Green Energy Projects under development energy construction centers EV charging Constructing energy PV installations storage facilities Residential Natural gas Water connection recycling Financial data 13
Slide 14: Renewable energy
Renewable energy Q1 2026 Summary Company data Energy centers Photovoltaic facilities Matam Park 59 systems Projects under development 14,200 cooling tons Total capacity 11.7 MW Gav-Yam Negev Park 3,000 cooling tons Residential Financial data Energy storage facilities Green electricity Constructing 4
Slide 15: LEED rating system projects
LEED rating system projects Q1 2026 Summary Company data Projects under development Gav-Yam Hebrew Campus Matam East Towers Gav-Yam Center Herzliya Pituach TOHA Residential Gav-Yam Rehovot #5 Gav-Yam O2 Herzliya Gav-Yam Negev #4 Gav-Yam Negev #5 Gav-Yam Raanana Financial data Simulation for illustra
Slide 16: Real increase in rent Q1 2026
Real increase in rent Q1 2026 Q1 2026 Summary In Q1 2026 the company executed 56 lease agreements, with respect to an aboveground area of 50,000 m2 generating ILS 43 million per annum. Renewal contracts 3% Options exercised Company data real increase 4% real increase Projects under development 63% 3
Slide 17: Projects under development
Projects under development Approximately 290,000 m2 consolidated Q1 2026 Summary Company data Gav-Yam O2 Herzliya TOHA 2 Matam East Towers #3 Projects under development 59,000 m2 100% marketed 101,000 m2 39% marketed 43,000 m2 27% marketed Completion date Q2/26 Completion date Q4/26 Completion date
Slide 18: Projects under development
Projects under development Simulation for illustrative purposes only
Slide 19: Projects under development – consolidated
Projects under development consolidated Q1 2026 Summary Annual Rate of Revenue for Construction Costs balance representative marketed marketed Project name Aboveground Parking Total Holding rate Total costs as of 31 march Completion date leasing revenue aboveground aboveground (including land) 2026
Slide 20: Projects under development – expanded standalone
Projects under development expanded standalone** Q1 2026 Summary Annual Rate of Revenue for Construction Costs balance representative marketed marketed Project name Aboveground Parking Total costs as of 31 march Completion date leasing revenue aboveground aboveground (including land) 2026 ILS millio
Slide 21: Planned projects
Planned projects Approximately 190,000 m2 consolidated. Q1 2026 Summary Company data Gav-Yam Negev #6 Matam Park – parking structurev Projects under development 17,000 m2 aboveground Stage A 11,000 m2 underground parking Residential Financial data Herzliya – Hahoshlim TOHA 3 and 4 Gav-Yam Rehovot #6
Slide 22: Residential
RESIDENTIAL
Slide 23: Residential projects
Residential projects Q1 2026 Summary Status Project name Units (total) Units (company’s share) Projects under construction and marketing TRUE Tel Aviv – Dafna – complex 505 232 102* (incl. 21 rental units) Tel Aviv – Dafna – complex 501 391 171* (incl. 35 rental units) Herzliya North #1 300 300 Comp
Slide 24: Residential projects under development and marketing
Projects under Q1 2026 Summary development and marketing TRUE TEL AVIV Tel Aviv Dafna Complex 505 Company data residential units sold residential units 78 232 Projects under development (of which 156 residential units units for marketing) expected revenue: retail ILS 841 million 300 m2 Residential e
Slide 25: Residential projects – short term
Residential projects – short Projected 1-3 years until commencement of development term Q1 2026 Summary Company data Kiryat Ono – Hannah Szenes* Herzliya North #1 Tel Aviv – Dafna – Complex 501* Projects under development Residential Petach Tikva – Ramat Verber* Tel Aviv – TOHA Residential Kiryat On
Slide 26: Residential projects – long term
Residential projects – long Projected 4+ years until commencement of development term Q1 2026 Summary Company data Haifa – lot 8001 Rehovot Holon Projects under development Tel Aviv – Dafna – Complex 502* Kiryat Yam #1, #2* Acre Residential Financial data Beer Sheva Afula Herzliya North #2* In total
Slide 27: Financial data
Financial data
Slide 28: Financial results Q1 2026 (ILS millions)
Financial results Q1 2026 (ILS millions) Q1 2026 Summary Q1 2025 Q1 2026 235 208 202 Company data 188 179 176 169 165 156 Projects under development 114 116 104 97 84 Residential Revenue from rental NOI SAME PROPERTY Increase in fair value of Net profit for FFO for shareholders per FFO for sharehold
Slide 29: Growth in NOI and FFO for shareholders
Growth in NOI and FFO for shareholders (ILS millions) Q1 2026 Summary 660-680 606 553 533 Company data 459 450-460 432 432 401 407 Projects under development 313 253 162 143 104 114 Residential 2021 2022 2023 2024 2025 2026 1-3.2025 1-3.2026 (Forecas) Financial data NOI FOR SHAREHOLDERS FFO FOR SHAR
Slide 30: Shareholder equity and dividends
Shareholder equity and dividends (ILS millions) Q1 2026 Summary 5,003 4,906 4,515 4,205 3,976 Company data 3,611 Projects under development Residential 570 260 275 305 290 60 Financial data 31.12.2021 31.12.2022 31.12.2023 31.12.2024 31.12.2025 31.03.2026 Shareholder dividends Equity for shareholder
Slide 31: Financial strength
Financial strength Q1 2026 Summary Weighted capitalization rate Weighted effective interest 6.95% 6.76% 6.73% 6.67% 6.58% 6.30% Company data spread from weighted cost of debt 4.6 Projects under development % spread from marginal 2.05% 2.30% cost of capital* 1.77% 1.47% Residential 1.43% 4.1 1.26% %
Slide 32: Financial debt
Financial debt Q1 2026 Summary Gross financial debt 10,113 Company data ILS million weighted avg. effective 81% Projects under development interest, index-linked 19% 2.05 % ILS fixed ILS 1,885 million Residential average duration index-linked 8,228 3.3 ILS million Financial data years 32
Slide 33: Debt principal repayment schedule
Debt principal repayment schedule (ILS millions) Q1 2026 Summary 1.4% 1,745 1.7% 2.6% 1,430 Company data 1,370 2.4% 2.3% 1,121 1,098 Projects under development 2.0% 2.0% 2.0% 847 823 823 2.3% 572 2.9% Residential 3.1% 206 78 Financial data 4-12.2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036
Slide 34: Financial data (ILS millions)
Financial data (ILS millions) Q1 2026 Summary Consolidated 1-3/2026 1-3/2025 [% change] NOI 202 179 13 Same Property NOI 188 176 7 Company data Fair value increase of investment real estate 97 165 (41) Financing costs, net(1) 42 47 (11) Projects under development Tax costs 61 63 (3) Net profit for s
Slide 35: Financial data (ILS millions)
Financial data (ILS millions) Q1 2026 Summary Shareholder share*(1) 1-3/2026 1-3/2025 [% change] NOI 162 143 13 Same Property NOI 148 140 6 Company data Fair value increase of investment real estate 97 126 (23) Financing costs, net 38 43 (12) Projects under development Tax costs 52 47 11 Net profit
Slide 36: Financial data (ILS millions)
Financial data (ILS millions) Q1 2026 Summary Consolidated 31/03/2026 31/12/2025 Liquid assets 855 772 Fair value of investment real estate of which: 16,842 16,879 Income-generating real estate 13,152 13,200 Company data Real estate under construction 2,959 2,949 Land 731 730 Other properties 1,409
Slide 37: Financial data (ILS millions)
Financial data (ILS millions) Q1 2026 Summary Shareholder share* 31/03/2026 31/12/2025 Liquid assets 727 607 Fair value of investment real estate of which: 14,257 14,309 Company data Income-generating real estate 10,875 10,925 Real estate under construction 2,820 2,823 Land 562 561 Other properties
Slide 38: Forward-looking information
ה Forward-looking information current state of company’s areas of activity, This presentation includes forecasts, fields of activity, and macroeconomic facts and assessments, estimates and other information data, all as known to the company at the time of relating to future events and matters, wher