Areit Inc. · PSE:AREIT
Areit — H1 2026 Earnings Presentation
26 slides from Areit's earnings presentation, August 2026
Slide 1: 1H 2026 Analyst Briefing
1H 2026 Analyst Briefing August 2026
Slide 2: Agenda
Agenda 1H 2026 Results • Highlights • Operating and Financial Performance • Dividends P20B Asset Infusion CEO Message
Slide 3: 1H 2026 Performance Highlights
1H 2026 Performance Highlights Continued momentum and strong growth from newly-infused assets TOTAL REVENUES1 EBITDA1 NET INCOME2 P7.7B +30% P5.8B +34% P5.8B +36% OCCUPANCY NET DEBT AUM (Assets under 99% P1.9B Management) Borrowing Cost of 4.7% 5.3% of Deposited Property Value P159.4B +36% GLA 4.7m
Slide 4: 1H 2026 Financials
1H 2026 Financials Revenues of P7.7B (+30%); Net Income of P5.8B1 (+36%) Income Statement 1H 2026 1H 2025 Change % • Higher Revenues and EBITDA (In Php millions) driven by the new assets2 with Total Revenues 7,716 5,923 1,793 30% contributions starting in April DOE and GAE (1,870) (1,571) (299) 19%
Slide 5: Stable portfolio with high occupancy and healthy WALE
Stable portfolio with high occupancy and healthy WALE GLA Lease WALE Lease Expirations (in building GLA sqm) (in sqm) Occupancy (in years) Renewed Ongoing Non-renewal For replacement Overall 4,666,551 (100%) 99% 21.9 180,435 Building 1,809,237 (39%) 98% 13.7 10.1% Offices 725,168 (16%) 96% 3.5 Hotel
Slide 6: Strong balance sheet with a net gearing of 0.01:1
Strong balance sheet with a net gearing of 0.01:1 Balance Sheet June December • Total Borrowings and Deferred (in Php Millions) 2026 2025 Payments are 5.3% of the Cash & Receivables 7,899 7,582 Deposited Property Value, well Total Assets 168,801 147,322 within the 35% aggregate leverage limit Total
Slide 7: Declaration of 2Q 2026 Cash Dividends
Declaration of 2Q 2026 Cash Dividends • P0.63 per share for 4,156,887,818 outstanding common shares • Cash dividends will be paid on September 9, 2026, to stockholders of common shares as of the record date August 25, 2026.
Slide 8: Uninterrupted Dividend Growth
Uninterrupted Dividend Growth Dividends up 31% and DPS up 7% vs. 1H 2025 Dividend Amount (PHP mn) AREIT DPS (PHP per share) 8,364 2.41 2.28 6,376 2.15 1.98 1.77 4,923 4,455 1.32 1.25 3,119 2,619 1,894 0.59 0.63 2,043 1,354 2,304 1,862 0.58 0.62 2020 2021 2022 2023 2024 2025 2026 2020 2021 2022 2023
Slide 9: Agenda
Agenda 1H 2026 Results • Highlights • Operating and Financial Performance • Dividends P20B Asset Infusion CEO Message
Slide 10: Accelerating AREIT's Growth
2026: Grow AREIT Assets Under Accelerating Management (AUM) AREIT’s Growth Diversify AREIT’s asset portfolio in terms of sector and location 10
Slide 11: Another Php20B infusion will lift AREIT's AUM to Php179B
Another Php20B infusion will lift AREIT’s AUM to Php179B Post 2020 IPO P20B Infusion AUM: P30B 6x growth AUM: P179B 100% offices Increased Mix of offices, exposure to malls, hotels, and retail assets industrial land 11
Slide 12: AREIT's infusion strategy is shifting towards direct and hybrid leases
AREIT’s infusion strategy is shifting towards direct and hybrid leases to capture growth of retail and hospitality sectors 1 2 3 Further Diversify Infuse Malls via Infuse Hotels via the Portfolio Direct Lease Hybrid Lease To increase exposure in retail To ride tailwinds of retail sector To secure a
Slide 13: Direct Lease Mall Infusions valued P13B
Direct Lease Mall Infusions valued P13B Ayala Malls Ayala Malls Ayala Malls Glorietta 4 Capitol Central Circuit Cloverleaf Location Makati City Bacolod City Makati City Quezon City GLA (in sqm) 30,429 63,391 65,184 33,277 Lease-Out 91% 90% 76% 86% Valuation (in Php Billions) 5.0 3.1 2.0 2.8 Transfer
Slide 14: Glorietta 4
Glorietta 4 Glorietta 4 captures foot traffic and premium retail demand as the vibrant convergence point of Makati CBD. AREIT will benefit from its wide selection of shopping, dining, and entertainment offerings that cater to the various needs of professionals and families. Key Tenants 14
Slide 15: Ayala Malls Capitol Central
Ayala Malls Capitol Central Anchoring ALI’s estate in Bacolod City, this mall taps into a rapidly growing provincial economy. It offers AREIT retail presence and exposure in Visayas. Key Tenants 15
Slide 16: Ayala Malls Circuit
Ayala Malls Circuit Positioned within Makati’s arts & entertainment district, Ayala Malls Circuit captures a unique demographic of consumers. This asset unlocks benefits from capturing the professional and lifestyle markets from the estate's residential and office developments. Key Tenants 16
Slide 17: Ayala Malls Cloverleaf
Ayala Malls Cloverleaf As the commercial gateway to northern Metro Manila, Cloverleaf benefits from infrastructure and transit connectivity within a thriving mixed-use estate, positioning it to capture sustained growth from a dense urban market. Key Tenants 17
Slide 18: Hybrid Lease Hotel Infusions valued at P7B
Hybrid Lease Hotel Infusions valued at P7B New World Seda Vertis North Fairmont Raffles Location Makati City Quezon City Makati City GLA (in sqm) 72,488 35,478 49,049 Valuation (in Php Billions) 2.7 1.6 2.6 Asset-Share Swap with Asset-Share Swap with Transfer Mode Cash Acquisition with Leaseback* Le
Slide 19: Diversified portfolio of high-quality commercial buildings
Diversified portfolio of high-quality commercial buildings AUM Breakdown by Sector Improved portfolio sector diversification Office Retail Hotel Industrial Land Post-Infusion • Infusion of malls via 2025 Current direct lease and hotels 4% via hybrid (fixed + 6% 5% 6% 9% variable) lease 7% 18% • Expo
Slide 20: Accelerating AREIT's Growth
2026: Grow AREIT Assets Under Accelerating Management (AUM) AREIT’s Growth Diversify AREIT’s asset portfolio in terms of sector and location 20
Slide 21: Contents
Contents 1H 2026 Results • Highlights • Operating and Financial Performance • Dividends P20B Asset Infusion CEO Message
Slide 22: AREIT's accelerated growth is gaining momentum, supported by portfolio resilience
AREIT’s accelerated growth is gaining momentum, supported by portfolio resilience NET INCOME P5.8B +36% vs. 1H25 AUM P159.4B +14% vs. 1Q26 2Q DPS P0.63
Slide 23: The next set of acquisitions expands AREIT's scale, diversification, and value levers
The next set of acquisitions expands AREIT’s scale, diversification, and value levers Next Infusion P20B Asset-Share Swap P17.3B 4 malls, 2 hotels Cash Acquisition P2.6B 1 hotel Lease Structures Malls: Direct Hotels: Hybrid
Slide 24: Welcoming the new AREIT, Inc. Chief Operating Officer
Welcoming the new AREIT, Inc. Chief Operating Officer Eduardo Javier “Javi” P. Carballo • Over 25 years of international experience in debt capital markets, treasury strategy, and large-scale financing across Asia-Pacific, the United States, Europe, and emerging markets • Prior to joining AREIT o Ma
Slide 25: We are building a platform designed to deliver reliable results
We are building a platform that is designed not only to deliver reliable results today, but also to compete effectively for capital on a regional basis and create long- term value for our shareholders through disciplined growth, diversified income streams, and sustained operational excellence.
Slide 26: 1H 2026 Analyst Briefing
1H 2026 Analyst Briefing August 2026