Noval Property Real Estate Investment Company · ATHEX:NOVAL
Noval Property Real Estate Investment — Noval Property — H1 2026 Earnings Presentation
27 slides from Noval Property Real Estate Investment's earnings presentation, July 2026
Slide 1: Financial Results H1 2026
NOVAL PROPERTY re: purpose growth FINANCIAL RESULTS H12026
Slide 2: Table of contents
Table of contents 1 Company Overview 2 Financial Performance & Capital Structure 3 Portfolio Overview 4 Future Prospects 5 Appendix 2
Slide 3: Company Overview
Company Overview 3
Slide 4: H1 2026 Performance Snapshot
H1 2026 Performance Snapshot Key highlights €707mn 60 / 339,000* €41.9mn GAV (2) Properties/sqm GLA(3) Annualized Gross Rental Income (3) ● Completed and delivered to the market Key (* excl. land plots) the prime office building ‘K199’ located at portfolio 7.0% 8.3 years 97.3% Kifissias Avenue in M
Slide 5: Financial Performance & Capital Structure
Financial Performance & Capital Structure 5
Slide 6: H1 2026 Financial Results
H1 2026 Financial Results Rental Revenue +3.0 40,0 +17% 30,0 ● Solid rental revenue growth continuing in 2026 (+17% vs. H1 2025), driven by 37,8 33,4 strong contributions from the office and retail asset classes (+€1.6mn and 20,0 29,3 24,9 20,6 +€0.9mn respectively vs. H1 2025), followed by the res
Slide 7: H1 2026 Financial Results: GAV and NAV
H1 2026 Financial Results Gross Asset Value (GAV) (1) Net Asset Value (NAV) & NAV per share (2) € mn +84.9 +45.4 +13.3 554,9 563,6 € mn +73.1 +77.1 600 12,0 519,1 500 10,0 800 693,6 706,9 427,4 648,3 571,2 400 365,9 8,0 600 486,4 314,9 413,3 300 4,40 4,47 6,0 3,98 4,11 400 3,18 3,40 200 4,0 200 100
Slide 8: Capital Structure
Capital Structure Debt Key Figures (1) (in € mn unless otherwise stated) Shareholder Structure (5) Free-Float Other Cash and Cash equivalents 45,5 15,3% 15,1% Treasury Gross Debt (excl. Lease Liabilities) 185,8 shares 0,3% Gross LTV (%) 26.9% Viohalco Indirect Net LTV (%) 20,3% 5,9% Weight
Slide 9: Portfolio Overview
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Slide 10: Attractive risk-adjusted returns from a well-balanced portfolio
Attractive Risk-adjusted returns from a well-balanced portfolio Average Gross Rental Yield per Asset Class (1)(3) Continued yield generation from our income-producing asset classes Offices Retail Hospitality Logistics/ Warehouses Residential Field/ Land Avg Gross Rental Yield 5,4% 9,2% 7,4% 6,8% 2
Slide 11: Healthy lease terms and diversified tenant mix
Healthy lease terms and diversified tenant mix that support stable cash flows Annualized Gross Rental WAULT per Asset Class % Occupancy Rate (years) (1) (2) (3) Income Expirations per Asset Class (2) (as a % of total) (1) 53,6% 10,7 100,0% 100,0% 99,4% 100,0% 97,3% 88,8% 8,1 8,3 70,2% 6,4 12,0% 2,9
Slide 12: Healthy lease terms and diversified tenant mix
Healthy lease terms and diversified tenant mix that support stable cash flows Strong and Diversified Tenant Mix Tenant Mix (Indicative) Viohalco's Subsidiaries 15% HOUSEMARKET S.A. 14% ZEUS INTERNATIONAL 8% Total Annualized Rental Income €41.9mn(1) Other 63% 12
Slide 13: Portfolio Highlights
Portfolio Highlights The Orbit ATHENS GAV (1): €102.7 mn GLA: 17,832 sqm River West/ RW Open Completion: 2019 Ardittos ATHENS House ATHENS GAV (1): €130.7 mn GAV (1): €23.4 mn GLA: 38,009 sqm Butterfly GLA: 2,675 sqm Completion: 2011/2021 ATHENS Completion: 2025 GAV (1): €15.0 mn GLA: 2,621 sqm C
Slide 14: Projects in progress
Projects in progress “The Grid” 10-12, Chimarras str. Marousi, ATHENS 252, Pireos str. Tavros, ATHENS DESCRIPTION DESCRIPTION Development of an office campus (through the JV “The Grid S.A. at 50%”) Urban regeneration and repurposing of former industrial buildings into offices, hotel, residences, mu
Slide 15: Future Prospects
Future Prospects
Slide 16: Focused Strategy, Strong Expectations 2026
Focused Strategy, Strong Expectations 2026 CONFIRMED Focused on delivering and leasing Advancing the development of Selectively target new up our ongoing projects our captive pipeline investments to complement our portfolio Growth catalysts FY 2026: FY 2026: ● Consumer sales of our retail ass
Slide 17: Thank you
Thank you NOVAL PROPERTY re:purpose growth
Slide 18: Appendix
Appendix
Slide 19: Statement of Financial Position – IFRS
Financials | Statement of Financial Position – IFRS Amounts in € ’000s 31.12.2020 31.12.2021 31.12.2022 31.12.2023 31.12.2024 31.12.2025 30.06.2026 Assets Non-current assets Investment property 377.028 416.293 483.963 557.312 616.703 657.588 666.787 Property and equipment 539 663 746 835 799 7.177 7
Slide 20: Income Statement – IFRS
Financials | Income Statement – IFRS 01.01 - 01.01 - 01.01 - 01.01 - 01.01 – 01.01 – 01.01 – Amounts in € ’000s 31.12.2020 31.12.2021 31.12.2022 31.12.2023 31.12.2024 31.12.2025 30.06.2026 Continuing Operations Revenue 13.876 15.937 24.880 29.339 33.417 37.788 20.650 Net gain / (loss) from fair valu
Slide 21: NAV break-down, a-EBITDA & FFO
NAV break-down, a-EBITDA & FFO Amounts in € ’000s 31.12.2019 31.12.2020 31.12.2021 31.12.2022 31.12.2023 31.12.2024 31.12.2025 30.06.2025 30.06.2026 Shareholders’ Equity 253.688 281.920 314.904 365.854 427.390 519.099 554.899 533.195 563.556 Number of Shares* 90.143 98.929 98.929 107.467 107.467 126
Slide 22: Analysis per Type of Asset
Analysis per Type of Asset Annualized rental WAULT (years) (8) WAULT (years) (8,9) WAULT (years) (8,10) Gross yield Number of Fair Value % GLA(3) % % Occupancy (in '000 €)* income Contractual Minimum contractual Maximum contractual Properties (1) 30.06.2026(2) of Total (sqm) of Total of Total (%) (5
Slide 23: Geographical Sector Analysis & Gross Asset Value
Geographical Sector Analysis & Gross Asset Value Annualized Number of Fair Value at G.L.A. (sq.m.) Occupancy (amounts in ‘000 €) % of total % of total Rental Income % of total (1) Represents the fair value of the properties analyzed in Appendix Properties 30.06.2026(1) (2) (3) rate (4) section “Geog
Slide 24: Glossary
Glossary Financials Earnings Before Interest, Tax, Depreciation and Amortization adjusted for (gain)/loss from fair value adjustment of investment property, gain/loss from impairment 1 Adj. EBITDA on financial assets, (gain)/loss from sale of investment property, non-recurring (income)/expense and (
Slide 25: Footnotes
Footnotes (1) As of and for the 6m-period ending 30.06.2026, unless otherwise stated. (2) Gross Asset Value refers to Investment Schedule adding the participation of 50% in the JV “THE GRID p.5 SA” (€34mn) and the Shareholder Loan (€11mn) (3) Company data (4) Based on annualized contracted rent in r
Slide 26: Disclaimer
Disclaimer Important Notice THIS DOCUMENT MAY ONLY BE USED IN CONJUNCTION WITH AND SUBJECT TO THE TERMS OF THIS NOTICE By viewing or receiving this Presentation (as defined below), you agree to be bound by the following limitations/terms of use of the Presentation: This corporate presentation (the P
Slide 27: A white circle with a letter in it A white and black logo Description
A white circle with a letter in it A white and black logo Description automatically generated Description automatically generated Χειμάρρας 16Β,151 25 Μαρούσι, Αττική I +30 2168608086