Big Shopping Centers Ltd. · TASE:BIG
Big Shopping Centers — Q1 2026 Earnings Presentation
31 slides from Big Shopping Centers's earnings presentation, May 2026
Slide 1: Capital Market Presentation Q1 2026
Slide 2: Disclaimer
Disclaimer © This presentation includes information that is based on information published in the financial statements of Big Shopping Centers Ltd. ("The Company’), which were published in accordance with the Securities Law, 1968 and the regulations promulgated thereunder ("The Securities Law"), as
Slide 3: Strategy
Strategy © Long-term holding of properties Focusing on improvement and increasing cash flows through effective management of the properties Concentration on 3 main segments d=h i Residential for rent Offices Commercial (mainly outside of israel) office buildings in significant cities and projects re
Slide 4: 1 Financial Data
Slide 5: Breakdown of Real Estate value
Breakdown of Real Estate value BIG Group | (Company share in %) Value by Value by iit Awan to Country Sector ATE T ae va 51% 19% 58% i on he Israel Serbia & Commercial = -—— | 1496 1% 5% 10% Romania 9% 3396 USA Chez Poland Residential Offices & Republic for Rent Parking : CAPITAL MARKET PRESENTATION
Slide 6: Shareholders' Equity Growth
Shareholders’ Equity Growth © inismitions 2,494 2,959 3,236 3,437 4,049 3990 6645 9,411 10,952 12,022 13,391 13,381 v 2015 2016 = 2017. | 2018.) 2019S 2020 2021S 2022 2023S 2024 = 2025 March 2026 sic 6 CAPITAL MARKET PRESENTATION
Slide 7: Year-End Yielding GLA
Year-End Yielding GLA | in thousands of m? | BIG Group Actual Projected end of year 1,155 1,799 2139 «2,080 1954 2,179 2,481 2,733 2,724 2,872 3,097 3,239 3,375 a 2018 2019 2020 2021 2022 2023 2024 2025 March 2026 2027 2028 2029 2026 @ Residential for rent = @ Offices 7 © commercial CAPITAL MARKET P
Slide 8: Investment Property Fair Value
Investment Property Fair Value In NIS Millions | BIG Group Effective Actual Projected end of year * 8,887 10,564 11,236 14,917 18,530 22,710 27,442 29,738 29,405 30,477 32,132 33,836 36,825 lI 2018 —-2019-—«2020—«2021-—«-2022-—« 2023 2024—« 2025 March 2026 2026 2027 2028 2029 @ Residential for rent
Slide 9: NOI Growth
NOI G rowth 1) in nis mitiions | BIG Group Effective Actual Projected rate, year-end * @ Excluding the impact 603 703 802 970 1133 1,396 1,728 1,954. 2,078 2,194 2,310 2,527 of Operation ‘Roaring Lion’, the NOI growth ¥ rate compared to the same period last year is 5.5% = - 1.3% ce Difference 2018 =
Slide 10: NOI for Same Properties
cones, NO] for Same Properties BIG Group Effective Europe Israel NOI in Euro millions NOI in NIS millions 139 wv (9%) | Difference ped The same-property NOI growth rate for BIG 10.2 396 21.1 centers in Israel, Di 4.39 Ice excluding the impact of Operation Roaring Lion, is 4.3% @1 2025 Qt 2026 Qt 202
Slide 11: NOI for Same Properties
BIG Group Effective NOI for Same Properties | a P Europe Israel NOI in Euro millions. NOI in NIS millions ww 64.0 10.695 75 wT 49.2. Difference 54.4 11.3% —_— Difference @1 2025 @1 2026 @1 2025 1 2026 og CAPITAL MARKET PRESENTATION
Slide 12: AFFO Growth
AFFO G rowth 1) in Nis mitions | BIG Group Effective . Excluding the impact of Pi 4 * Actual rojected rate, year-end Operation ‘Roaring 335 368 323 56217 710-900 4,015 4107 1165 1,229 1348 Lion’, the AFFO growth rate compared to the same period last year is 13.996 [ 252 ti. 234 W ~ 7.7% a f70 | . Di
Slide 13: Turnover Data - Same Properties
' Turnover Data — Same Properties Romania | °F Properties Centers Million Euro 128.5 130.5 18 695 Difference @1 2025 Qt 2026 0.996 OCR (Ex. Meng.) ( 11.2% ¢ Y 11.3% 1.4% OCR ( Y t y/ ) (in. Meng.) 14.2% 14.4% si & Europe | sic centers Million Euro 13.5% % Difference Qt 2025 Qt 2026 (4.7%) 8.5% 8.1%,
Slide 14: New Contracts 2026
New Contracts | 2026 © sic centers iso Average rent per Sqm Contracts Average areaper Terminated New Total area # contract contracts contracts Change Inc. anchor 52 12,340 237 116 123 Options tenants exercised “EXC. anchor tenants New contracts Gm « CAPITAL MARKET PRESENTATION
Slide 15: Growth Engines
GROWTH ENGINES— 2 i = a E & 3
Slide 16: Big Fashion Petach Tikva
Big Fashion Petach Tikva | Phase A* Under Construction | BIG In NIS millions | As of 31 March 2026 Fair Accrued Construction Projected Expected value cost cost balance NOI launch date Viele 780 630 1,309 164 2029 8.5% i een? Offices Commercial 40K 65K 100% sqm sqm ya y4 76% 58% BIG's share % Marketi
Slide 17: Big Fashion Ashkelon
Big Fashion Ashkelon Under Construction | BIG In NIS millions | As of 31 March 2026 Fair Accrued Construction Projected Expected value cost cost balance NOI launch date VRID 64 42 400 40 2028 9.196 a fo? 50% Offices Commercial 10K 37K ° % Sam sqm BIG's share % i CAPITAL MARKET PRESENTATION the above
Slide 18: Growth Engines Under Development
Growth Engines | Under Development | BIG Total lands NIS 999mition 31 March 2026 | BIG's share wT wT WD Petah Glilot Ness Tikva Ziona 244 A 238 NIS millions NIS millions NIS millions 180K sqm 80K sam 37K sam Commercial, Offices Employment employment, ° 410K sqm 42K sqm & hospitality Commercial Comme
Slide 19: Europe Activity
EUROPE ACTIVITY i CAPITAL MARKET PRESENTATION
Slide 20: BIG Europe Key Data
BIG Europe | Key Data Actual NOI Assets value | in Euro millions in Euro millions | BIG's a 229 239 367 561 679 1,054 1,245 1,245 share, effective 207 24.0 ww 15.7% Difference ——_ 1-03/2025 1-03/2026 | 2019 2020 2021 2022 2023 2024 2025 March 26 Occupancy rate — ee 97% (99% 98%, 97%Y (98%R 199% 99%
Slide 21: BIG Europe Growth Engines
BIG Europe | Growth Engines) in evo mitions 31 March 2026 Projected NOI > Effective mote roject bse) GLA | 100% Costs incurred eonctruction costs 2026 +«2027/:«2028-«-2029 Total _—_Yeilding rate % Dzierzoniow 95.5% 16,844 10.2 24 23 7.2% / Konstantynow 669% 13,040 48 89 12 8.7% Olkusz 478% 13,457 46
Slide 22: Poland growth engine map
" - OLSZTYN POLAND ot Growth engine for the Company's activity in Europe a aan KONSTANTYNOW [Eftelire LUBIN Baas Projects Under Development fit BOLESLAWIEC ited Pie] DZIERZONIOW Ree MYSZKOW Ei] OLKUSZ ANDRYCHOW Existing centers Eile] TARN ic ZA CAPITAL MARKET PRESENTATION
Slide 23: Liquidity & Flexibility
Liquidity & Flexibility Ea 2 CAPITAL MARKET PRESENTATION
Slide 24: Liquidity and Financial Flexibility
The Company has options (Series 7) with an exercise price of NIS 573, expiring in June 2026. Assuming the options are exercised, the Company is expected to receive cash-flow of approximately NIS 395 million. S&P Ma’alot stable/ ilAA Secured debt O 5.2 NIS billion Valve of shares stable/- ilAA Unsecu
Slide 25: Debt Repayment Overview
Debt Repayment Overview | S Ya el | Without AFI Properties in NIS millions 2026 2027 2028 2029 2030 2031 2032 2033 2034 = Total Bank Debt in Israel 215 167 270 = = = = = = 652 Public commercial Securities Papers (Series 5) 250 - - - - a Z = - 250 Total unsecured Bond Series Institutes 465 167 270 =)
Slide 26: Assaf Nagar, Deputy CEO
ic CAPITAL MARKET PRESENTATION Assaf Nagar Deputy CEO 073-2600410 054-5660147 assaf@bigcenters.co.il
Slide 27: Appendices
H Appendices © is CAPITAL MARKET PRESENTATION
Slide 28: BIG Overview
BIG Overview (Exc. AFI Properties) Geographic Sectors In NIS millions, as of 31 March 2026 ic ISRAEL EUROPE USA * GLA, m2 (100%) 616,000 616,000 107,000 Average occupancy App, 100% 99% 98% Total value of Investment property 10,357 4,559 395 Total value of Assisted living 344 = = Value of properties
Slide 29: Consolidated Balance Sheet
Consolidated Balance Sheet |pic’s effective share | Israel Israel usA usA Europe Europe Total ‘eee co] Gere | caters | emrans (inc. AFI) (exc. AFI) (ine AFI) 3170372028 s0ie205 3170372026 swies2025 31/03/2026 3112/2005 31/03/2026 avie2025 12/2035 3utey2025 NIS thousands | _NIS thousands 8 thousands
Slide 30: Consolidated Balance Sheet
Consolidated Balance Sheet |pic's effective share _ Totaleffective Totaleffective Total effective Israel Israel USA USA Europe Europe Tota errewnve Be consolidated consolidated consolidated (ine. AFI) (exc. AFI) (ine AFI) 3103/2025 39/12/2025 31/03/2026 3112/2025 3103/2025 39/12/2025 31/03/2026 31/1
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