Wereldhave Belgium Sca · EURONEXT:WEHB
Wereldhave Belgium Sca — Wereldhave Belgium — Investor Presentation (2021)
52 slides from Wereldhave Belgium Sca's investor presentation, 2021
Slide 1: Corporate Presentation 2021
Wereldhave Belgium Full a 5] D> S fe} © Short Corporate Presentation 2021 Wereldhave ea
Slide 2: Agenda
Retail market at a glance Portfolio overview Strategy Development overview ESG goals Operational results Financial results
Slide 3: Wereldhave Belgium introduction
01. Wereldhave Belgium introduction > Company founded in 1972 and listed on Euronext Brussels since 1998 > Focused on investment in Retail Real Estate in Belgium & Luxemburg (Shopping Centres and Retail Parks) > Holds a total real estate portfolio of €916,4 Mio as of 30 June 2021 > Status of a Belgi
Slide 4: Belgian REIT since 1998
01. Wereldhave Belgium introduction Belgian REIT since 1998 > Company specialized in Real Estate investment > Favourable tax status > Conditions > Porfolio diversification: < 20% per single asset/tenant > Loan-to-Value: < 65% > Pay-out: > 80% of net proceeds Wereldhave BELGIUM
Slide 5: Market capitalisation and shareholders
01. Wereldhave Belgium introduction Market capitalisation per 30 June 2021: 423,7 Mio | 340% Free float MB 65,90% Wereldhave NV. Wereldhave BELGIUM
Slide 6: Organisation structure
CFO Owner & Investor Asset Management (re)Development incl. marketing & COO operations CEO Mall Management Leasing incl. building maintenance & services Note: this is a demonstrative overview of the 6 structure at Wereldhave Belgium
Slide 7: Core values
01. Wereldhave Belgium introduction Core values 7 Wereldhave BELGIUM
Slide 8: Agenda
Wereldhave Belgium introduction Portfolio overview Strategy Development overview ESG goals Operational results Financial results
Slide 9: Take-up retail 2012-2021
02. Retail Market at a glance Take-up retail 2012 — 2 2021 asnoco + 214.500m? soa 000 +40% vs. 2020 150.000 419 transactions renee +50% vs. 2020 50.000 ° +63% Out of Town retail vs. 2020 (2012 2013 (2014 (2015 2017 2018 2019 2020 (2021 +29% Shopping Centers vs. 2020 Source: Expertise Database 2021 W
Slide 10: Prime yields by segment
02. Retail Market at a glance Prime yields by segment 7% 6% =, S>e-e-e—e—e—e-0-0 0000-0 3% 2% 1% 0% @-0-¢ ~~» _,-9-@ 1% ~ —e— Out of Town —e— High Street —e— Shopping Centre - 10y. Bond Yields Source: Cushman & Wakefield Belgium Retail market Snapshot 2021 (Q2) 10 4,25% High Street 4,65% Shopping Ce
Slide 11: Prime rents by segment
02. Retail Market at a glance Prime rents by segment (Eur/m?/year) 250 2000 1750 aan - 1500 210 i eee 4000 190 50 gO @eee. eee |” 500 q q q > ah Se PS NMS HS Le Bg 150 130 sP === High Street —mg@=es Shopping Centre —_g==e Out of Town Retail Source: Cushman & Wakefield Belgium Retail market Snapshot
Slide 12: Retail trends: data, technology and Covid-19
02. Retail Market at a glance Retail > Growth of online retail demanding structural changes > Rethinking the retail landscape and strategies Data & Technology > Importance of ‘phygital area > Increasing need of experimental/experience retail Covid-19 > Rents under pressure (2020) — restoring in 2021
Slide 13: Agenda
Wereldhave Belgium introduction Retail market at a glance Strategy Development overview ESG goals Operational results Financial results
Slide 14: Portfolio locations map
Gent Vilvoorde Berchem Waterloo Nivelles 9 Tournai Liège Genk 6 Kortrijk Brugge Turnhout 14
Slide 15: Portfolio overview: Wereldhave Group
03. Portfolio overview Wereldhave Group Number of shopping centers 28 Average size 28100 m? Number of shopping center 999 mio rs (2020) Occupancy shopping centers 950 % Wereldhave 15 BELGIUM
Slide 16: Shopping Centers
03. Portfolio overview Shopping Centers Ring Kortrijk Shopping 1 Stadsplein Genk Opening / renovation 1973 / 2021 Opening / renovation 1968 / 2014 Opening / renovation 2007 GLA 31.900m? GLA 27.600m? GLA 15.500m? # tenants 83 # tenants 101 # tenants 25 # parking 2.000 # parking 1.250 # parking 44 Anc
Slide 17: Shopping Centers
03. Portfolio overview Shopping Centers Belle-ile Nivelles Bastions Opening / renovation 1994 / 2021 Opening / renovation 1974 / 2012 Opening / renovation 1979 / 2018 GLA 30.300m? GLA 29,200m? GLA 34.100m? # tenants 100 # tenants 100 # tenants 92 # parking 2.200 # parking 1.452 # parking 2.000 Decat
Slide 18: Retail Parks
Retail Parks Turnhout Opening 1979 19.804m? 12 GLA #tenants Waterloo Opening 1968 3.347m? " GLA #tenants Retallpark Bastions Opening 2016 10.300m? 10 GLA #tenants Gent Opening 2015, 3.600m? 7 GLA #tenants: Brugge Opening 1970 20.343m? 13 GLA #tenants Wereldhave BELGIUM
Slide 19: Office Parks
03. Portfolio overview Office Parks The Sage —Vilvoorde an a THE SAGE The Sage - Antwerp Opening / renovation 2000 / 2021 GLA 22.100m? # tenants 12 # parking 639 19 Opening / renovation 2000 / 2021 GLA 38.400m? # tenants 34 # parking 769 Wereldhave BELGIUM
Slide 20: Agenda
Wereldhave Belgium introduction Retail market at a glance Portfolio overview Development overview ESG goals Operational results Financial results
Slide 21: Strategy: Making every day count
04. Strategy Making every day count Transformation > Embrace challenging market trends * E-commerce * Growing out of home spending > Focus on customer needs Optimalisation > Owning and managing assets: steady value of portfolio Combining head office and local teams in continuous teamwork > Size of p
Slide 22: Fixing the basics, Enjoyment, Self Expression, Wellbeing
Fixing the basics Enjoyment Self Expression Wellbeing 22
Slide 23: Wereldhave
Wereldhave BELGIUM
Slide 24: Full Service Centers
04. Strategy Full Service Centers * Beating heart of environment * Integrating services ¢ Making sure there are numerous reasons to visit the center * Integrating mixed-use concepts 24 Direct vicinity of FSC oO Residential Full Service Centers for better everyday life Broader area surrounding FSC We
Slide 25: Tenant mix evolution
→ Traditional Retail F&B and Entertainment Fitness & Healthcare Right-size (Fixing the Basics & (Self) Expression) (Enjoying Life) (Well-being) (e.g. offices or residential) 25
Slide 26: Creating value
Story telling People & culture Creating value Customer insights Services
Slide 27: Agenda
Wereldhave Belgium introduction Retail market at a glance Portfolio overview Strategy ESG goals Operational results Financial results
Slide 28: Development overview
05. Development overview Retailpark - The Sage - Brugge Antwerp Belle-ile - Liége Ring - Kortrijk Shopping Nivelles - Nivelles Retailpark - Waterloo The Sage - Vilvoorde Ring — Kortrijk Restore the retail balance by adding a balanced mix of other uses like a fresh food area & an exterior F&B zone. S
Slide 29: Ring Kortrijk
Ring: New Logo Facade Integrating esh food area ent zone Creating extra terraces Wereldhave BELGIUM
Slide 30: The Sage: new branding and services
New • Branding • Entrances • Services - The Eatery - Ironing service - Fitness - Electric charging • Green • Meeting Rooms • Entrances 30
Slide 31: Development overview: Shopping Centers
05. Development overview: Shopping Centers Belle-ile: * Creating an extension of 11.000m? * Adding an outdoor sport course * Integrating more outside terraces * Open views on the water * Maximizing connection with nearby offices Full Service Center transformation > 40% retail > 20% F&B > 40% leisure
Slide 32: emt
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Slide 33: Nivelles
Nivelles: Mixed-use concept Creating an extension to increase multifunctionality Ongoing with municipality on exact scope Offices OR/AND Residential OR/AND Leisure 33
Slide 34: Brugge and Waterloo
Brugge: ° New name & branding ° Integrating sustainable materials ° Creating a safe, pleasant and green environment Waterloo: ° Futureproof redevelopment ° Mixed-use concept ° Retail ° Residential 34 Wereldhave REIGIUIM
Slide 35: Agenda
Wereldhave Belgium introduction Retail market at a glance Portfolio overview Strategy Development overview Operational results Financial results
Slide 36: ESG goals
06. ESG goals Where we fulfil our everyday life needs should be a healthy place. A place that is good for a better everyday life for our customers and the environment. O © 36 ' Wereldhave BELGIUM
Slide 37: Clear and ambitious ESG Strategy
06 ESG goals Clear and ambitious ESG Strategy SDG Area Sub-area Ambition 2030 Energy & Carbon Reduce carbon emissions 30% by 2030 (scope 1+2) Better Footprint FWEiEIS Zero waste to landfill and use circular solutions (scope 3) Value chain impact Partner with tenants and visitors to reduce carbon and
Slide 38: On company level
38 On company level ie) CSR awareness and fantastic VUVUUV VY & n a personal level KPI’s integrated for each employee leading to poy 9 DECENT WORK AND are ECONOMIC GROWTH initiatives Certificates (BREEAM) Partnerships Recycling Eco-days Sustainable pop-ups Sustainable actions 13 17 CLIMATE ACTION PA
Slide 39: Wereldhave
Wereldhave BELGIUM
Slide 40: Agenda
Wereldhave Belgium introduction Retail market at a glance Portfolio overview Strategy Development overview ESG goals Financial results
Slide 41: Operational results
07. Operational results Wereldhave Belgium Operations jopping on appointment ommunication (+/- 2500 users) 'y above ERV ) ‘21) ystery Shopping a 3 extensions * NPS & CSAT scores 20 renewals * Real time crowd monitoring 35 new leases etailers icessions granted es pact on occupancy rate ry in traffic
Slide 42: Traffic
07. Operational results Traffic Covid-19 > Number of visitors -21% vs. 2019 > Outperforming in comparison to the market * June 2021 vs. 2019 ° WHB: -7% * Market: -12% Number of visitors (x 1.000) 2019 m@ 2021 500 000 450 000 400 000 350 000 300 000 250 000 200 000 150 000 100 000 50 000 co) 12 3 4 5
Slide 43: Sales recovery of tenants' performance
07. Operational results Sales — recovery of tenants’ performance since re-opening F&B Outperforming vs. 2019 Underperforming vs. 2019 + Fashion & accessories * Multimedia & electronics (due to e-commerce) + F&B (since July after forced closing) * Shoes & leatherware (due to e-commerce) + Homeware &
Slide 44: Agenda
Wereldhave Belgium introduction Retail market at a glance Portfolio overview Strategy Development overview ESG goals Operational results
Slide 45: Balance sheet
08. Financial results HY 2021 Balance sheet 2018 2019 2020 HY 2021 Change HY 21-20 Real Estate Portfolio (Mio Qo 9567 961.3 921.2 916.4 -48 ‘copa oe occupancy oo - a — sion . vo Sst So nunna Net Asset Value (Mio ©) 678.4 689.2 650.6 644.5 -61 / Financial De Debts s Mio 6) — 286.0 273.0 263.0 265.5 2
Slide 46: Profit and Loss Account
08 Financial results HY 2021 Profit and Loss Account Gross Rental Income (mio) 2018 2019 HY 2021 59. 26.6 Direct Result (mio) Indirect Result (mio) Indirect result per Share (in €) Total Result (mio) Direct result per Share (in €) 45.6 5.92 - 216 29.0 46 Wereldhave BELGIUM
Slide 47: Rent collection 2020 - HY 2021
Rent collection 2020 – HY 2021 98,26% 94,07% 2020 ½ 2021 47
Slide 48: Debt Mix per June 2021
Debt Mix per 30 June 2021 • HY 2021 • Private Placement 12% • • → Commercial Paper • 38% € 265,5mio • Bank loans 50% • • • 48
Slide 49: Bank loans and Hedge Ratio
08. Financial results HY 2021 Bank loans In € mio Committed Utilised Availibilty Bank loans Commercial Papers Private Equity Intercompany Hedge Ratio 255 150 2018 150 32 133,5 100 32 121,5 50 2020 HY 2021 Total fixed rate debt Total floating rate debt Hedging instruments 49 60 226 50 60 50 213 60 60
Slide 50: Outlook 2021
08. Financial results HY 2021 Outlook 2021 Maintaining resilient occupancy & NRI Strengthening of the balance sheet Further Management of Covid context Further Implementation of LifeCentral Strategy Renovations: Kortrijk & offices EPS Indication 2021 of € 4.30 per share External Growth Wereldhave BE
Slide 51: Make every day count
make every day count
Slide 52: Questions?
Questions? 52