Aroundtown Sa · XETR:AT1
Aroundtown Sa — Aroundtown Sa Ord — 9M 2025 Earnings Presentation
91 slides from Aroundtown Sa's earnings presentation, Nov 26, 2025
Slide 1: 9M 2025 Financial Results
9M 2025 FINANCIAL RESULTS NOV 2025 CHALKIDA (GREECE) AROUNDTOWN SA
Slide 2: Table of Contents
TABLE OF CONTENTS HIGHLIGHTS OPERATIONS AND PORTFOLIO FINANCIAL RESULTS BALANCE SHEET & CAPITAL STRUCTURE GUIDANCE APPENDIX − Company overview, Strategy & Business Model − Portfolio & Capital Markets − ESG − Main Cities Aerial View − Market Data BERLIN AROUNDTOWN SA 2
Slide 3: Highlights
HIGHLIGHTS I TOP TIER LOCATIONS FRANKFURT BERLIN COLOGNE AROUNDTOWN SA 3
Slide 4: 9M 2025 Financial Highlights
9M 2025 FINANCIAL HIGHLIGHTS OPERATIONAL RESULTS CONSERVATIVE DEBT PROFILE & FINANCIAL DISCIPLINE o NET RENTAL INCOME / RENT LIKE-FOR-LIKE o ADJUSTED EBITDA o LIQUIDITY o DEBT REPAID / DEBT RAISED €886m 3.1% €750m €2.7bn €2.5bn €2.3bn REPAID RAISED 0% YOY (NET RENTAL INCOME) -1% YOY SEP 2025 2025 YT
Slide 5: Highly Accretive Issuance and Buyback of Perpetual Notes
HIGHLY ACCRETIVE ISSUANCE AND BUYBACK OF PERPETUAL NOTES SUCCESSFUL ISSUANCE OF PERPETUAL NOTES & PARALLEL TENDER OFFER AND REDEMPTION CALLS TRANSACTION RATIONALE ❑ Highly FFO accretive transaction due to: ❑ Replacement of high coupon perpetual notes with new lower coupon perpetual notes. ❑ Reductio
Slide 6: Perpetual Notes Transaction Overview
PERPETUAL NOTES TRANSACTION OVERVIEW BEFORE EXERCISE (REDUCTION) / ISSUANCE AFTER EXERCISE AMOUNT COUPON AMOUNT COUPON 722m EUR 7.125% ➔ (722m) EUR1 - 90m EUR 7.078% ➔ (90m) EUR2 - 19m GBP 6.85%* ➔ (19m) GBP3 - 345m GBP 6.95%* ➔ (192m) GBP 153m GBP 6.95%* 151m EUR 6.193% ➔ (151m) EUR4 - New 5.25% pe
Slide 7: Proactive Approach Supports Senior Bond Issuances
PROACTIVE APPROACH SUPPORTS SENIOR BOND ISSUANCES ACCESS TO CAPITAL AT LOWER FINANCING RATES EUR Issuances 4.80% July 2024 May 2025 Sep 2025* 3.50% 3.25% ❑ Issuance of Series 40 ❑ Issuance of Series 41 ❑ Issuance of Series 42 ❑ €650 million volume ❑ €1.05 billion (incl. 2 taps of ❑ €850 million volu
Slide 8: Solid Internal Growth Driven by Diverse Drivers
SOLID INTERNAL GROWTH DRIVEN BY DIVERSE DRIVERS LFL RENTAL GROWTH RESIDENTIAL 34% portfolio share ❑ Benefiting from exceptionally strong market dynamics and fundamentals 3.1% ❑ Steady rent increases from high reversionary potential Sep 2025 YOY ❑ Strong vacancy reduction track record reaching record
Slide 9: Internal and External Growth Drivers
INTERNAL AND EXTERNAL GROWTH DRIVERS INTERNAL GROWTH DRIVERS EXTERNAL GROWTH DRIVERS ❑ Potential to increase occupancy to market levels ❑ Capital recycling by disposing lower yielding ❑ Indexation, step-up rents, regulatory rent increase properties to fund acquisition of attractive higher mechanism
Slide 10: Operations & Portfolio
OPERATIONS & PORTFOLIO I TOP TIER LOCATIONS BERLIN DAVOS DAVOS STUTTGART AMSTERDAM AROUNDTOWN SA 10
Slide 11: High Diversification, Balanced Across Strong Asset Types in Strong Locations
HIGH DIVERSIFICATION, BALANCED ACROSS STRONG ASSET TYPES IN STRONG LOCATIONS 94% OFFICE/RESIDENTIAL/HOTEL, 88% IN GERMANY, THE NL & LONDON, well-balanced with strong diversification among asset types with diverse fundamentals well-diversified across top tier cities with a focus on central locations
Slide 12: Diversified Asset Base Offers Synergies and Downside Protection
DIVERSIFIED ASSET BASE OFFERS SYNERGIES AND DOWNSIDE PROTECTION AT’S DIVERSIFED ASSET STRATEGY AS A CLEAR COMPETITIVE ADVANTAGE SYNERGIES DOWNSIDE PROTECTION ❑ Lower sensitivity to one industry or one asset class specific ❑ AT can better benefit from an asset‘s best use impacts ❑ Asset‘s best use ma
Slide 13: Defensive Portfolio with Strong Tenant Structure
DEFENSIVE PORTFOLIO WITH STRONG TENANT STRUCTURE SEP 2025 Investment Lettable area Annualized EPRA Vacancy In-place rent/sqm (€) Value/sqm (€) Rental Yield WALT (years) Portfolio by asset type property (€m) (k sqm) net rent (€m) Office 8,315 2,913 12.9% 429 13.5 2,854 5.2% 4.2 Residential 8,058 3,52
Slide 14: Continuous Disposal Progress
CONTINUOUS DISPOSAL PROGRESS ca. €460m CLOSED NRW 15% DURING 9M 2025 Office 44% Frankfurt o20x 11% Berlin 23% Resi around book value 32% Bremen 10% Average rent multiple ca. €155 MILLION SIGNED BUT NOT Hotel 10% CLOSED AS OF SEPTEMBER 2025 o STRENGTHENING THE BALANCE o Over €10bn was signed for disp
Slide 15: Office Portfolio Performance and Market Tailwinds
OFFICE PORTFOLIO OFFICE 38% 1.5% LFL Rental growth Sep 2025 YOY PERFORMANCE Driven by indexation and rent reversion 73% Green Certified Top 4 cities: 59% Berlin, Frankfurt, Munich and Amsterdam Take-up in 2025 will be slightly above the result in 2024, but with significant recovery in demand not exp
Slide 16: Improved Economic Outlook from Government's Spending Boost and Reform in Germany
IMPROVED ECONOMIC OUTLOOK FROM GOVERNMENT’S SPENDING BOOST AND REFORM IN GERMANY GERMAN GOVERNMENT STIMULUS PACKAGE AIMED OFFICE MARKET PERFORMANCE CLOSELY LINKED TO AT SUPPORTING ECONOMIC GROWTH ECONOMIC GROWTH Main changes: 6.0% ❑ Amendment changes the structural deficit cap, allowing unlimited de
Slide 17: Pre-Let Conversion into Service Apartments as a Strong Internal Growth Driver
CONVERTING SELECT OFFICE PROPERTIES INTO ATTRACTIVELY LOCATED SERVICED APARTMENTS PRE-LET CONVERSION INTO SERVICE APARTMENTS AS A STRONG INTERNAL GROWTH DRIVER TO INCREASE RENT No. of Expected City Permit Status Rooms Handover Date Berlin – Alexanderplatz Market Opportunity: Rotterdam 240 Permit obt
Slide 18: Residential Portfolio Performance and Market Tailwinds
RESIDENTIAL PORTFOLIO RESI 34% 3.9% LFL Rental growth Sep 2025 YOY PERFORMANCE Low vacancy of 3.3% as of Sep 2025 Focus on large metropolitans Across densely populated Declining supply vs increasing demand areas in Germany and London MARKET Number of approved apartments fell to 215,900, the lowest l
Slide 19: Hotel Portfolio: Positive Momentum and Outlook
HOTEL PORTFOLIO HOTEL 22% 4.2% LFL Rental growth Sep 2025 YOY Additional rent upside to be captured over the next years from completed hotel repositionings Well-diversified across large European tourism POSITIVE RevPAR growth is continuing across portfolio locations1) and business destinations MOMEN
Slide 20: ATechX Updates
ATECHX UPDATES ATECHX UPDATES ATECHX CASE STUDY: TEMPERATE ❑ Second cohort completed successfully Temperate: ❑ Third cohort applications are open and are expected to begin in Q1 2026 ❑ Produces an innovative cooling device using passive o Looking to partner with startups in Deep cooling technology T
Slide 21: Development & Invest Portfolio
DEVELOPMENT & INVEST PORTFOLIO: 5%* OF TOTAL ASSETS 2. CRYSTALLIZE GAINS THROUGH 3. SELECTIVE DEVELOPMENT AT LOW 1. IDENTIFY POTENTIAL SALES RISK Asset type Mostly major refurbishments, also incl. Building rights materialized into sellable conversions and new-built. permits: Mainly at fixed costs, w
Slide 22: Data Centers – Opportunity
DATA CENTERS – OPPORTUNITY AT’S PORTFOLIO STRONGLY OVERLAPS WITH TOP 5 DATA CENTER MARKETS IN GERMANY HAMBURG OPPORTUNITY: BERLIN ❑ Taking advantage of AT‘s location of office and >50% of AT’s development assets in key data center markets for commercial hyperscalers, co-location and edge data center
Slide 23: Data Centers – Strategy & Progress
DATA CENTERS – STRATEGY & PROGRESS INITIAL ANALYSIS EXECUTED BY EXPERT ADVISORS RESULTED IN APPROX. 100 ASSETS THAT COULD BE SUITABLE FOR CONVERSION INTO DATA CENTERS – HYPERSCALERS, CO-LOCATION AND EDGE AT’S STRATEGY TO EXTRACT VALUE: PROGRESS ON DATA CENTER STRATEGY: ❑ Currently over 10 assets hav
Slide 24: Financial Results
FINANCIAL RESULTS I TOP TIER LOCATIONS DRESDEN FRANKFURT BERLIN AROUNDTOWN SA 24
Slide 25: Profit and Loss
PROFIT AND LOSS 1-9/2025 1-9/2024 in € millions NET RENTAL INCOME 886.4 882.8 LFL Net rental income growth Operating and other income 258.4 274.7 REVENUE 1,144.8 1,157.5 +3.1% Total LFL Net rental PROPERTY REVALUATIONS AND CAPITAL GAINS 383.7 (591.0) income growth Sep 2025 Share of results from inve
Slide 26: Adjusted EBITDA, FFO I & FFO II
ADJUSTED EBITDA, FFO I & FFO II 1-9/2025 1-9/2024 in € millions Adjusted EBITDA before JV contribution (in €m) Operating profit 1,104.1 97.5 Total depreciation and amortization 8.2 10.8 0% EBITDA 1,112.3 108.3 708 711 Property revaluations and capital gains (383.7) 591.0 Share of results from invest
Slide 27: Balance Sheet & Capital Structure
BALANCE SHEET & CAPITAL STRUCTURE I TOP TIER LOCATIONS LEIPZIG BERLIN ROTTERDAM AROUNDTOWN SA 27
Slide 28: EPRA NAV KPI's
EPRA NAV KPI’S EPRA NAV KPI’s (in €m) & EPRA NAV per share KPI’s (in €) Sep 2025 Dec 2024 EPRA NRV (/ps) EPRA NTA (/ps) in € millions unless otherwise indicated EPRA NTA +4% EQUITY ATTRIBUTABLE TO THE OWNERS OF THE COMPANY 7,974.7 7,630.2 10,406 +5% 10,032 8,165 8,541 Deferred tax liabilities 1,405.
Slide 29: Debt Maturity Schedule
DEBT MATURITY SCHEDULE DEBT MATURITY PROFILE – excluding perpetual notes 2,500 Avg. Cost of Debt Avg. Debt Maturity Hedging Ratio Undrawn RCFs • Issuance & LME extend 3.6y / 97%* €0.9 billion* 2.2% *95% fixed & swapped / *average maturity in the avg debt maturity 4.3y (incl. cash) 2% capped / 3% var
Slide 30: Conservative Capital Structure
CONSERVATIVE CAPITAL STRUCTURE HEALTHY BALANCE SHEET & DEBT METRICS LOW LEVERAGE (LTV) FINANCING SOURCES MIX Company BOD guidance of 45% Straight bonds 41% 38% 42% 41% €12.0bn €10.9bn Loans & borrowings 8% 9% €2.5bn €2.5bn Equity 51% 53% €15.0bn €15.5bn Perpetual notes Dec 2024 Sep 2025 Dec 2024 Sep
Slide 31: Guidance
GUIDANCE I TOP TIER LOCATIONS BERLIN DÜ̈SSELDORF MAINZ AROUNDTOWN SA 31
Slide 32: 2025 Guidance Confirmed
2025 GUIDANCE CONFIRMED FY 2025 GUIDANCE FFO I €280 million – €310 million FFO I per share €0.26 – €0.28 POSITIVE DRIVERS NEGATIVE DRIVERS o Full year impact of 2024 and 2025 disposals o Conservative rent increase o Higher perpetual coupon payments compared to 2024, but o Impact of hotel repositioni
Slide 33: Appendix
APPENDIX I TOP TIER LOCATIONS EINDHOVEN/BRABANT (NETHERLANDS, CENTER PARCS) HAMBURG FRANKFURT AROUNDTOWN SA 33
Slide 34: Company Overview
COMPANY OVERVIEW LARGE SCALE WITH EXPERIENCED TRACK WELL BALANCED SECURE CASH FLOWS ACTIVE MARKET PLAYER LOCAL KNOW-HOW RECORD PORTFOLIO ❑ Third largest listed real ❑ Founded in 2004 ❑ Aroundtown’s portfolio ❑ Secure cash-flow with ❑ Large deal sourcing estate company in ❑ Highly experienced compris
Slide 35: Germany & the Netherlands
FOCUS ON STRONGEST ASSET TYPES IN TOP TIER LOCATIONS GERMANY & THE NETHERLANDS o Two of the strongest economies in Europe with AAA credit rating o Together making up more than a quarter of the EU’s economy o 7 of the 15 largest metropolitan areas by GDP in the EU are in Germany and the Netherlands o
Slide 36: Aroundtown Is an Active Market Player
AROUNDTOWN IS AN ACTIVE MARKET PLAYER Acquisition criteria Diversified and large base of deal sources Strong presence in Capital Markets o Focus on locations with strong fundamentals and market dynamics The Aroundtown Group is one of the largest capital Institutional o Value-add potential through op
Slide 37: Realigning Strategy: AT the Turning Point from Defensive to Opportunistic Growth
REALIGNING STRATEGY: AT THE TURNING POINT FROM DEFENSIVE TO OPPORTUNISTIC GROWTH Portfolio Optimization and Deleveraging Positioned for External Growth Development of Investment Property (in €bn) €29bn €28bn €25bn €24bn 2021 2022 2023 2024 >2025* ❑ Optimizing the portfolio primarily by disposing non
Slide 38: Investment Properties
INVESTMENT PROPERTIES SEP 2025 Investment Lettable area Annualized EPRA Vacancy In-place rent/sqm (€) Value/sqm (€) Rental Yield WALT (years) Portfolio by asset type property (€m) (k sqm) net rent (€m) Office 8,315 2,913 12.9% 429 13.5 2,854 5.2% 4.2 Residential 8,058 3,522 3.3% 395 9.5 2,288 4.9% N
Slide 39: Best-in-Class Berlin Portfolio
BEST-IN-CLASS BERLIN PORTFOLIO 85% Located in the best TOP TIER neighborhoods of BERLIN 85% of the Group portfolio is located in top Strongly benefiting from the unique tier neighborhoods: dynamics & growth of Berlin’s most in Charlottenburg, Wilmersdorf, Mitte, demand neighborhoods, business areas
Slide 40: Office: 38% of the Portfolio
OFFICE PORTFOLIO – WELL-LOCATED IN TOP TIER CITIES OF GERMANY AND THE NETHERLANDS WELL-DIVERSIFIED OFFICE: 38% OF THE PORTFOLIO, with focus on top tier cities o No dependency on a single location, single tenant, single asset or single industry. Long lease structure with 4.2y WALT LARGEST LANDLORD o
Slide 41: Residential Portfolio
RESIDENTIAL PORTFOLIO GCP IS CONSOLIDATED AND THE CURRENT HOLDING RATE IS 62% RESIDENTIAL (GCP): 34% OF THE PORTFOLIO o Residential asset class is the Group’s second largest asset type after offices, providing the Group with a well-balanced portfolio breakdown. STABLE CASH FLOWS o German residential
Slide 42: Hotel Portfolio
HOTEL PORTFOLIO HOTEL PORTFOLIO WITH LONG TERM LEASES - 13.5 YEARS WALT HOTEL: 22% OF THE PORTFOLIO o Long fixed contracts with no variable components with over 25 third-party hotel operators, OVER 150 HOTELS: Mainly in top tier European cities with AT having business relationships of more than a de
Slide 43: Significant Internal Growth Potential from Successful Hotel Repositionings
SIGNIFICANT INTERNAL GROWTH POTENTIAL FROM SUCCESSFUL HOTEL REPOSITIONINGS Cardo Brussels New Lobby Complete refurb, repositioning and rebranding into Cardo Roma, Autograph collection by Marriot. Further potential by Cardo Roma: upgrading ca. 260 rooms Complete refurb, repositioning and rebranding i
Slide 44: Strategic Top Tier Hotels in Strong Locations
STRATEGIC TOP TIER HOTELS IN STRONG LOCATIONS Hotel Rooms Brand Hotel Rooms Brand Hotel Rooms Brand Hilton Berlin Gendarmenmarkt Prime 623 NH Hotel Dortmund Prime Center 190 InterCity Hotel Dresden City Center 162 Center AC by Marriott Berlin Mitte 130 Radison Blu Prime Center Baden-Baden 162 Bristo
Slide 45: Logistics and Retail Portfolio
LOGISTICS AND RETAIL PORTFOLIO LOGISTICS: 2% OF THE PORTFOLIO RETAIL: 4% OF THE PORTFOLIO 4.7 YEAR WALT 4.8 YEAR WALT 4% of portfolio is retail, of which: • Over 1/4 is part of other asset types (ground floor retail, service areas, etc.) REDUCED SHARE REDUCED SHARE o Reduced from 7% in March 2020 du
Slide 46: Overview of Selected Development and Conversion Projects
OVERVIEW OF SELECTED DEVELOPMENT AND CONVERSION PROJECTS Lettable area Market rent Project name City Address Project type Planned use Status / capacity p.m. Conversion Berlin Kreuzberg Berlin Baerwaldstraße 36-37, 10961 with space addition Residential Pre-permit obtained 3k sqm €22/sqm Uhlandstraße
Slide 47: Turnaround Capital (TAC): European Opportunistic Real Estate Fund Backed by Aroundtown
TURNAROUND CAPITAL (TAC): EUROPEAN OPPORTUNISTIC REAL ESTATE FUND BACKED BY AROUNDTOWN MARKET DYNAMICS AND European real estate faces pressure from debt refinancings, post-COVID capex backlogs, ESG demands, and fund lifecycle OPPORTUNITY ends, thereby driving price dislocations and forcing liquidati
Slide 48: Attractive Investment in Globalworth
ATTRACTIVE INVESTMENT IN GLOBALWORTH – THE LEADING LISTED OFFICE COMPANY IN POLAND & ROMANIA WARSAW BUCHAREST WARSAW RIGHT INVESTMENT VEHICLE PRIME ASSETS & STRONG TENANT BASE IN THE CEE MARKET o GWI is a leader in the Polish & Romanian office o Through a JV, AT and CPI hold together 61% of markets
Slide 49: Share Information
SHARE INFORMATION THE SHARE SHAREHOLDER STRUCTURE Frankfurt Stock Exchange Placement Shares (Prime Standard) held in 1) treasury 29% Free float Incorporation Luxembourg 46% Avisco Group/ Vergepoint 2) 15% 13.07.2015 Stumpf Capital First equity issuance (€3.2 per share) GmbH 3) 10% 1) 12% are held th
Slide 50: Business Risk Profile
HIGHEST RATED GERMAN COMMERCIAL REAL ESTATE COMPANY S&P Ratings Matrix 1 2 Financial risk profile 5 6 FINANCIAL POLICY 3 4 Minimal Modest Intermediate Significant Aggressive High Leverage d o LTV guidance below 45% on a sustainable basis 1 Excellent aaa/ aa a+/a a- bbb bbb-/bb+ aa+ (Vonovia BBB+)2)
Slide 51: Capital Market Activity
CAPITAL MARKET ACTIVITY Capital market activity per year Capital market activity per issuance type 2015-2025 YTD €4.6bn €4.2bn €4.2bn €4.0bn €3.8bn Str. Bond €15.5bn €2.6bn €2.8bn €1.9bn Conv. Bond €0.8bn €1.2bn Equity €6.2bn €6.5bn €0.2bn 2015 2016 2017 2018 2019 2020 2021 2024 2025 Equity (incl. C
Slide 52: Perpetual Notes
PERPETUAL NOTES OUTSTANDING PERPETUAL NOTES AFTER Q4 2025 TRANSACTION AMOUNT COUPON NEXT RESET DATE RESET RATE** 153m GBP 6.950%* 07 Aug 2029 4.493% + 5Y MS 579m EUR 1.625% 15 Jul 2026 2.419% + 5Y MS 494m USD 5.836%* 07 Nov 2029 3.163% + 5Y MS 67m USD 5.756%* 21 July 2028 3.796% + 5Y MS 60m EUR 5.87
Slide 53: High Debt Covenant Headroom
HIGH DEBT COVENANT HEADROOM EMTN PROGRAMME CURRENT COVENANTS COVENANT (SEP 2025) o Covenants are calculated based on IFRS reported figures, treating the OVERVIEW perpetuals as 100% Equity. Thus, TOTEL NET DEBT / TOTAL NET ASSETS <=60% ✓ 35% o Each of the bond covenants is met with a perpetuals are n
Slide 54: Vendor Loan Overview
VENDOR LOAN OVERVIEW VENDOR LOAN UPDATE – LESS THAN €0.1BN OF VENDOR LOANS REMAIN OUTSTANDING AS OF NOVEMBER 2025 SINCE 2020 AT DISPOSED ~€10 BILLION OF PROPERTIES AND PROVIDED €0.8 BILLION OF VENDOR LOANS, CONNECTED TO €1.4 BILLION OF DISPOSALS. AT TIME OF DISPOSAL €0.6 BILLION WAS RECEIVED AND THE
Slide 55: Focus on Innovation in Real Estate
FOCUS ON INNOVATION IN REAL ESTATE Touchdown concept In the beginning there were two spaces; the home and the office. in ground floor office lobbies Then came the third space. ATworld offers a new progressive way of working. A flexible, connected and ownable space; the fourth space. Not just a futur
Slide 56: ATechX is Aroundtown's PropTech Accelerator
SHAPING THE FUTURE OF REAL ESTATE ATechX is Aroundtown’s PropTech Accelerator Together with prominent global Proptech VCs & RE Investors: Goal: Fifthwall: World’s largest built world VC noa: Europe’s largest built world VC - Accelerating the growth of innovative PropTech startups by providing access
Slide 57: Appendix - ESG
APPENDIX - ESG AnnTuS Lichterfelde Basketball e.V. Anna Meyer Kahlen Berlin, PV System Berlin, EV Charging Infrastructure I TOP TIER LOCATIONS AROUNDTOWN SA Finnegan Koichi Godenschweger, Kreuzberger Kinderstiftung gAG 57
Slide 58: Commitment to ESG
COMMITMENT TO ESG E CLEARLY SET TARGETS S SOCIALLY RESPONSIBLE G HIGH LEVEL OF GOVERNANCE Reduce GHG emissions by 40% by Strong commitment to maintain 2030 high tenant satisfaction Management oversight from Board of Directors (BoD) Promote sustainable water Increase employee retention and consumptio
Slide 59: AT's Long-Term ESG Targets
AT’S LONG-TERM ESG TARGETS UN Sustainable Development ESG TOPICS Goals (see here) Sub-topics Long-term targets • Achieve a 40% reduction in CO2 intensity by 2030 against the 2019 baseline, measured in CO2-equivalent emissions intensity, CO2e/m2 Climate Change Mitigation • Achieve a 20% reduction in
Slide 60: Green Building Certifications
ESG – ENVIRONMENT PART 1: ENERGY EFFICIENT BUILDINGS GREEN BUILDING CERTIFICATIONS Building upgrades with the goal to receive certifications (BREEAM, DGNB, LEED). Development/major refurbishments aimed to build for certification eligibility ➢ 62% of the commercial portfolio is certified ➢ 73% of off
Slide 61: GHG Emission Reduction
ESG – ENVIRONMENT PART 2: CONSERVING ENERGY MEASURES, REDUCING CARBON FOOTPRINT GHG EMMISSION REDUCTION ENERGY-IMPROVING INVESTMENTS Installation of Photovoltaics (PV), Combined Heat and Power (CHP), Combined Cooling, Heat & Power (CCHP), EV charging stations, smart meters, AI SWITCHING TO CLIMATE N
Slide 62: ESG – Environment Part 2: Energy Improving Investments
ESG – ENVIRONMENT PART 2: ENERGY IMPROVING INVESTMENTS Carbon reduction via installations of Photovoltaics Energy Efficient Heating EV Charging Stations energy efficient measures Generates carbon-free energy i.e. Combined Heat and Power Replaces carbon-intensive energy fuel These measures can reduce
Slide 63: ESG – Environment Part 2: Regular / Maintenance Capex Upgrade Energy Efficiency
ESG – ENVIRONMENT PART 2: REGULAR / MAINTENANCE CAPEX UPGRADE ENERGY EFFICIENCY Improved energy efficiency through better building Renewable energy systems and technological upgrading envelopes Roof, façade Window and basement LED systems Smart meters replacements insulation Heating, Green facilitie
Slide 64: ESG – Environment Part 3: Water and Waste Management
ESG – ENVIRONMENT PART 3: WATER AND WASTE MANAGEMENT WATER CONSUMPTION WASTE MANAGEMENT ➢ Remote water meters create awareness, influence tenant ➢ Further optimizing waste and operational costs through waste management behavior and help detect water leaks and unusual water usage systems (i.e., obtai
Slide 65: ESG – Social Part 1: Community Building
ESG – SOCIAL PART 1: COMMUNITY BUILDING AROUNDTOWN FOUNDATION LOCAL PARTNERSHIPS o AT focuses on establishing productive partnerships with local stakeholders to ensure that corporate activities are aligned to the tenants and communities Support to the Outpatient Children’s and Youth Hospice Service
Slide 66: Tenant Management
ESG – SOCIAL PART 2: TENANT MANAGEMENT ENGAGEMENT ENFORCEMENT Tailor-made approach, customized leases, QUALITY balancing tenants’ and the Company’s requirements TENANT MANAGEMENT Main tool to monitor and enforce tenant POLICY High quality support with Service Centers satisfaction, Annual Tenant Surv
Slide 67: ESG - Social Part 3: Goal to Become Top Employer
ESG - SOCIAL PART 3: GOAL TO BECOME TOP EMPLOYER Goal to become top employer in commercial real estate to attract best new talent COLLABORATION TRAINING RETENTION Dynamic & open corporate Employee training programs to Performance based incentives to culture, promoting personal ensure knowledge shari
Slide 68: Board of Directors
BOARD OF DIRECTORS MARKUS LEININGER- INDEPENDENT DIRECTOR o Board of Directors – 5/7 members are independent/non- FORMER SENIOR BANKER WITH A FOCUS ON FINANCING, PRIVATE EQUITY AND REAL ESTATE. SERVED AS HEAD OF OPERATIONS WITH EUROHYPO AG AND RHEINHYP AG executive (COMMERZBANK) AND A MEMBER OF THE
Slide 69: Board Committees and the Advisory Board
BOARD COMMITTEES AND THE ADVISORY BOARD ALL COMMITTEES ARE IN PLACE WITH INDEPENDENT MEMBERS IN PLACE AUDIT COMMITTEE RISK COMMITTEE NOMINATION COMMITTEE REMUNERATION COMMITTEE ESG COMMITTEE (Maintaining the integrity of the financial (Assessing, monitoring and mitigating any (Identifying suitable c
Slide 70: Management Team – Management Body
MANAGEMENT TEAM – MANAGEMENT BODY o Management body is supervised by the board of directors BARAK BAR-HEN – JONAS TINTELNOT – CFO TIMOTHY WRIGHT – CCMO LIMOR BERMANN – CSO (CHIEF FINANCIAL OFFICER) (CHIEF CAPITAL MARKETS OFFICER) (CHIEF SUSTAINABILITY OFFICER) CO-CEO & COO (CO-CHIEF EXECUTIVE OFFICE
Slide 71: Management Team – Senior Management
MANAGEMENT TEAM – SENIOR MANAGEMENT KAMALDEEP MANAKTALA – DEPUTY CEO CHRISTIAN HUPFER - CHIEF COMPLIANCE OFFICER 20+ YEARS OF EXPERIENCE IN REAL ESTATE INVESTMENT MANAGEMENT WITH A FOCUS ON THE LIVING SECTOR SINCE 2008 IN THE MANAGEMENT OF AROUNDTOWN AND ITS SUBSIDIARIES. IS SPECIALIZED IN TAX STRUC
Slide 72: Consecutive EPRA Awards Sustainability
ESG AWARDS & INDICES 2025: SUSTAINABILITY CONSECUTIVE INDICES EPRA AWARDS AT received EPRA BPR Gold award for the 9th time and EPRA o Included in the MDAX ESG+ index and Dow Jones Best- sBPR Gold award for the 8th time consecutively, for high In-Class Index Europe (formerly known as Dow Jones standa
Slide 73: ESG Ratings Overview - Performance at a Glance
ESG Ratings Overview - Performance at a Glance AROUNDTOWN SA 73
Slide 74: A Founding Member of the Association United Nations Global Compact Germany e. V.
A FOUNDING MEMBER OF THE ASSOCIATION “UNITED NATIONS GLOBAL COMPACT GERMANY e. V.” AROUNDTOWN SA 74
Slide 75: Appendix: Focus on Central Locations of Top Tier Cities
APPENDIX: FOCUS ON CENTRAL LOCATIONS OF TOP TIER CITIES I TOP TIER LOCATIONS BERLIN MANNHEIM COLOGNE FRANKFURT AROUNDTOWN SA 75
Slide 76: Berlin Alexanderplatz: The Prime Commercial and Tourist Center
BERLIN ALEXANDERPLATZ: THE PRIME COMMERCIAL AND TOURIST CENTER Landmark AT property BERLIN ALEXANDERPLATZ AT has over 130,000 SQM lettable space in the prime commercial and tourist center Alexanderplatz AROUNDTOWN SA 76
Slide 77: Berlin Potsdamer Platz: The Prime Commercial and Tourist Center
BERLIN POTSDAMER PLATZ: THE PRIME COMMERCIAL AND TOURIST CENTER Landmark Potsdamer Platz Office AT property Potsdamer Platz Checkpoint Charlie Mixed-use Residential/Office/Hotel (GCP) Office Potsdamer Platz Office Hilton Gendarmenmarkt Hotel Gendarmenmarkt AROUNDTOWN SA 77
Slide 78: Berlin Ku'damm: The Prime Commercial and Tourist Center
BERLIN KU’DAMM: THE PRIME COMMERCIAL AND TOURIST CENTER Berlin City Center Mitte Retail Landmark Potsdamer Platz Moxy by Marriot Berlin Mitte Ku’Damm KaDeWe Residential Hotel (GCP) AC by Marriot Berlin Mitte Hotel Ku’Damm KaDeWe Office AT property Berlin City Center Mitte Office Ku’damm /Uhlandstr.
Slide 79: Frankfurt: Quality Assets in Central Locations
FRANKFURT: QUALITY ASSETS IN CENTRAL LOCATIONS Landmark AT property FRANKFURT HBF & CBD Approx. 200,000 sqm lettable space in Frankfurt prime centers, main central train station and banking district AROUNDTOWN SA 79
Slide 80: Frankfurt: Quality Assets Near Main Central Train Station and Messe
FRANKFURT: QUALITY ASSETS NEAR MAIN CENTRAL TRAIN STATION AND MESSE Frankfurt Stadtmitte Office Landmark Frankfurt Büro Center (FBC) Office Frankfurt Messe Frankfurt Messe Frankfurt Messe AT property Office Office Office Intercontinental Frankfurt Hotel Frankfurt Banking District Frankfurt HBF Offic
Slide 81: Munich: Assets in Central Locations, Near Exhibition Center & Commercial Hubs
MUNICH: ASSETS IN CENTRAL LOCATIONS, NEAR EXHIBITION CENTER & COMMERCIAL HUBS Landmark Global HQs of Allianz Global Corporate & German HQs of Generali Specialty Insurance AT property Global HQs of Wacker Chemie AG Munich Messe Munich Siemens Office Campus Office Global HQs of Office BSH Group Four M
Slide 82: Amsterdam – Centrally Located High Quality Assets
AMSTERDAM – CENTRALLY LOCATED HIGH QUALITY ASSETS Landmark Amsterdam Zuidoost Amsterdam Zuidoost Office Office Amsterdam Sloterdijk Train Station Amsterdam West Office AT property Complex Office Amsterdam Arena Office Amsterdam Sloterdijk Office Amsterdam Westpoort Office Amsterdam Arena Amsterdam A
Slide 83: Dresden & Leipzig – Centrally Located Top Tier Assets at Hauptbahnhof
DRESDEN & LEIPZIG – CENTRALLY LOCATED TOP TIER ASSETS AT HAUPTBAHNHOF Landmark Dresden main central train station AT property Main central train station Office Leipzig main central train station Main central train station Office Main central train station Hotel City Center Promenade Nikolaikirche Of
Slide 84: Appendix: Market Data
APPENDIX: MARKET DATA I TOP TIER LOCATIONS BERLIN BRUSSELS COLOGNE LONDON AROUNDTOWN SA 84
Slide 85: Regional Market Overview
REGIONAL MARKET OVERVIEW Amsterdam Berlin ◼ GDP/capita: €102k (2022) ◼ GDP/capita: €79k (2021) ◼ Net migration: 9k p.a. (avg 2018-2022) ◼ Net migration: 30k p.a. (avg 2018-2022) ◼ Population density: 5.3k per km2 (2022) ◼ Population density: 4.1k per km2 (2021) Utrecht Hamburg ◼ GDP/capita: €65k (20
Slide 86: Office: Healthy Fundamentals in German & NL, Well-Positioned for Growth
OFFICE: HEALTHY FUNDAMENTALS IN GERMAN & NL, WELL-POSITIONED FOR GROWTH WHEN ECONOMY ACCELERATES German & Dutch office markets are well-positioned for growth once the economy picks up pace o While the economic recovery in Germany has been slow, strong fundamentals kept vacancy at healthy levels, ben
Slide 87: Office: Normalizing Work Patterns
OFFICE: NORMALIZING WORK PATTERNS o Traditional office work patterns are returning, as witnessed by recent announcements from large corporations, demanding full office attendance. o Return-to-office rate (average attendance current vs pre-pandemic) is 89% in Germany, with an average attendance rate
Slide 88: Resilient German Residential Market
RESILIENT GERMAN RESIDENTIAL MARKET POSITIVE NET MIGRATION REDUCTION OF HOUSEHOLD SIZE SIGNIFICANT UNDERSUPPLY RESULTS IN HIGH DEMAND RESULTS IN HIGH DEMAND Positive Net Migration in Germany 1) Increase in the share of 1 person households1) Building permits at low levels, significantly below demand
Slide 89: European Hotel Market
EUROPEAN HOTEL MARKET European hotel market KPI’s have now stabilized to a Market Fundamentals1) moderate long-term growth2) ❑ Travel returned to 2019 levels in 2024 across all segments, including 120 international business travel. 100 ❑ RevPAR is projected to index higher than ADR in 2025, driven b
Slide 90: Alternative Performance Measures
ALTERNATIVE PERFORMANCE MEASURES For enhanced transparency and more industry specific comparative basis, the Company provides market and industry standard performance indicators. These measures provide more clarity on the business and enables benchmarking and comparability to market levels. Reconcil
Slide 91: Disclaimer
DISCLAIMER IMPORTANT: This presentation has been provided for information purposes only and is being neither the Group nor any of its directors, officers, employees or advisers nor any other circulated on a confidential basis. This presentation shall be used only in accordance person makes any repre