Hamborner Reit Ag · XETR:HABA
Hamborner Reit — Investor Presentation (August 2025)
40 slides from Hamborner Reit's investor presentation, August 2025
Slide 1: Company Presentation August 2025
Company Presentation August 2025 Office property Ingolstadt
Slide 2: Agenda
1 HAMBORNER at a glance 2 Portfolio Overview 3 Asset/Property Management 4 Financials 5 Sustainability/ESG 6 Appendix Bürogebäude Ratingen
Slide 3: HAMBORNER at a glance
HAMBORNER at a glance Office property ‚Nu-Office‘ Munich
Slide 4: Company profile
Company profile History Company profile ▪ Public commercial property company 1953 Foundation of HAMBORNER ▪ Profitable and diversified German-wide property portfolio ▪ Two-pillar portfolio structure with focus on food-anchored retail and office Listing on stock exchange properties 1954 ▪ Stable and
Slide 5: The HAMBORNER Share
The HAMBORNER Share The HAMBORNER Share Shareholder structure Current share price €5.96 (as of 30 June 2025) Market capitalisation €484.8m (as of 30 June 2025) 12.2% RAG Foundation WKN/ISIN A3H233 / DE000A3H2333 Ticker symbol HABA 81,343,348 5.1% BlackRock shares Class of shares Registered Share Exc
Slide 6: Portfolio Overview
Portfolio Overview Office property Münster
Slide 7: Portfolio Strategy – Target Structure
Portfolio Strategy – Target Structure Retail Portfolio Office Portfolio Manage-to-core properties Manage-to-core properties with 10-20% 10-20% with value-add potential value-add potential Maintaining/extension of core 80-90 % Maintaining/extension of core 80-90% retail portfolio with focus on 80-90%
Slide 8: Portfolio Management Approach
Portfolio Management Approach ▪ Retail Asset classes ▪ Office ▪ Core Risk profile ▪ Manage-to-core ▪ > €10m (retail) Lot size ▪ > €20m (office) ▪ Focus on core investments ▪ Addition of selected manage-to-core properties with larger asset management need (refurbishment, reletting, repositioning etc.
Slide 9: Geographical Portfolio Structure
Geographical Portfolio Structure Geographical Focus (Metropolitan Regions in Germany) Portfolio by Metropolitan Regions (as of 30 June 2025; in % of portfolio value) Metropolitan Region Share of portfolio volume 1 Rhine-Ruhr 21.3% 10 2 Frankfurt Rhine-Main 13.7% 9 8 3 Berlin-Brandenburg 9.6% 3 4 Nur
Slide 10: Portfolio development
Portfolio development 2.000 50 Portfolio value and average property value Comments ▪ Continuous value-adding portfolio growth 1,625 1,604 1,609 1,589 since conversion into a G-REIT in 2010 1,517 40 1,471 1.500 1,441 1,406 ▪ Average annual growth rate of 10.7% 1,363 over the last 10 years ▪ Average p
Slide 11: Portfolio valuation 2024
Portfolio valuation 2024 Portfolio development full-year 2024 Comments €823.7m €617.2m 57.2% 42.8% ▪ Value development influenced by a property sale (-€5.8m1) and -1.8% decrease of like-for-like portfolio Transactions Retail Portfolio (LfL) Office Portfolio (LfL) value (-€28.3m) Portfolio value ▪ Ma
Slide 12: Recent disposals
Recent disposals 2024 2025 Hamburg Lübeck Osnabrück Asset class Office Retail (High-Street) Office Year of acquisition 2001 2016 2008 Leased area ~1,300 m2 ~13,500 m2 ~3,800 m2 Annualized rent ~€0.3m ~€2.3m ~€0.6m Recent fair value ~€5.8m ~€21.0m ~€6.5m Selling price ~€8.0m ~€20.9m ~€6.5m Transfer o
Slide 13: Portfolio key metrics as of 30 June 2025
Portfolio key metrics as of 30 June 2025 Asset class Total portfolio Investment approach Retail % Office % Split Core % Manage-to-Core1 % Number of properties 38 59.4% 26 40.6% 64 59 92.2% 5 7.8% Fair Value €801.3m 57.0% €605.0m 43.0% €1,406.3m €1,326.3m 94.3% €80.1m 5.7% Leased area 379,111 m² 62.8
Slide 14: Rent development
Rent development Development of annualized rents (year-on-year) +€2.1m -€0.8m -€3.2m €90.5m €88.6m -0.9% +2.4% -3.5% Annualized rents Indexation Re-lettings/ Property Annualized rents 30 June 2024 Vacancy change disposals 30 June 2025 Rent development like-for-like (year-on-year)1 Asset class Total
Slide 15: Asset/Property Management
Asset/Property Management Retail property ‚Rondo Steinheim‘ Hanau
Slide 16: Tenant base
Tenant base Top-10 tenants (as of 30 June 2025) Sector distribution (as of 30 June 2025) Tenant Sector Rent1 Sector Rent1 EDEKA Group Food retail 14.0% Food 34.5% Kaufland Group Food retail 7.5% DIY 11.6% REWE Group Food retail / DIY 7.0% IT / Communication 10.8% OBI DIY 6.8% Finance / Insurance 7.1
Slide 17: Leasing situation
Leasing situation Weighted average lease expiry (as of 30 June 2025) Letting result H1 2025 11,836 m² 12,399m² 95% 94% 6.9 years 5.7 years 73% 4.1 years 563 m² 27% 5% 6% New lettings Contract extensions Total Retail Office Total Retail Office 30,0% Lease expiry schedule (as of 30 June 2025; in % of
Slide 18: Financials
Financials Office property/Medical center Regensburg
Slide 19: Key figures H1 2025
Key figures H1 2025 Key Figures H1 2025 H1 2024 Change From the income statement Income from rents and leases €45.7m €46.7m -2.1% Operating result €10.5m €13.7m -23.5% Period result €6.5m €7.6m -13.9% Key earnings figures Funds from Operations (FFO) €24.9m €28.3m -12.1% Funds from Operations (FFO) p
Slide 20: Funds from Operations (FFO)
Funds from Operations (FFO) in k€ H1 2025 H1 2024 Change Comments 1 Income from rents and leases 45,651 46,650 -2.1% ▪1 Decline mainly due to strategic asset disposals Income from passed on costs 5,538 6,449 -14.1% ▪2 Expenses relate to ongoing maintenance and various implemented or recently initiat
Slide 21: EPRA NAV & NTA
EPRA NAV & NTA NAV & NTA development 2025 +€24.9m -€39.0m €796.3m -€7.3m -€1.2m €773.7m €0.0m €773.7m NAV FFO Dividend Like-for-like Other effects NAV Intangible NTA 31 Dec 2024 Revaluation 30 June 2025 Assets 30 June 2025 NAV/share NAV/share NTA/share -2.9% €9.79 €9.51 €9.93 Financials | 21
Slide 22: Financial situation
Financial situation Expiration Expirationofoffinancial financialliabilities liabilities (as(as of 30 of June 2025) 31 December 2021) 55.0% REIT equity ratio 18,0% 2025 16,0% 44.3% LTV 14,0% 12,0% 10.0x Net debt/EBITDA1 10,0% 16,5% 8,0% 16.0% 5.3x 14.0% 13.2% EBITDA/Interest coverage 6,0% 12.6% 12.1%
Slide 23: Outlook
Outlook Full-year guidance update 2025 Main influencing factors €89.5m – €90.5m ▪ Recent property disposals (previously €87.5m – €89.0m) ▪ Timing and volume of potential property acquisitions Rental income ▪ Expected increase in expenses for maintenance, as well as personnel and administration costs
Slide 24: Dividend strategy
Dividend strategy Dividend history Selected criteria for determining dividend amount Ø Payout ratio ~76% ▪ Business figures for the respective financial year 89% 96% 80% 69% 69% 68% 72% 75% 72% 76% − Overall development of operational and financial figures Proposal − FFO remains key influencing fact
Slide 25: Sustainability / ESG
Sustainability / ESG Office property Neu-Isenburg
Slide 26: ESG organization
ESG organization Supervisory Board Internal Sustainability Management ▪ Advising and monitoring ▪ Sustainability Committee Supervisory Management Board consisting of Management Board of Management Board Management Board members and the ESG Officers Board Sustainability & ESG ESG Committee from indiv
Slide 27: ESG strategy
ESG strategy Strategic development and guidelines Key Action Areas ▪ Integration of sustainability/ESG criteria into overall strategy ▪ Implementation of strategic sustainability programme ▪ Planning and controlling of sustainability activities by internal sustainability Corporate Environmental comm
Slide 28: Decarbonisation strategy | CO2e-balance
Decarbonisation strategy | CO2e-balance CO2e-balance for base year 2021 Share of emission sources in the CO2e-balance in tCO2e 42,130 0.5% 28,747 11.0% 7,109 4,415 4,242 16.7% 2,867 4,484 1,820 71.8% 69 38 10 0 131 8 69 0 199 Direct Energy Services, Energy Mobility Tenant Total energy supply materia
Slide 29: Decarbonisation target and milestones
Decarbonisation strategy | Decarbonisation target and milestones Level Scope Target 2030 Target 2045 -50.0% to 28.2 kgCO2e/m2 Reduction of energy related emissions Portfolio Energy related1 Net Zero Greenhouse gas emissions Total Corporate balance Net Zero targets are associated with a small amoun
Slide 30: Decarbonisation pathway
Decarbonisation strategy | Decarbonisation pathway Milestones along CRREM decarbonisation pathway1 70 Scope 1, 2, 3 energy related 60 Scope 3 other 50 CRREM V.2, 2°C (cross-portfolio) kgCO2e/m² 40 30 20 10 - BASE YEAR 56.4 TARGET 28.2 -50% 2021 kgCO2e/m² 2030 kgCO2 e/m² BASE YEAR 62.9 TARGET 1.8 -97
Slide 31: Areas of action and cost indication
Decarbonisation strategy | Areas of action and cost indication Cost indication for property and building maintenance Areas of action to reduce emissions Maintenance expenses1 0.4 – 0.8m Modernisation of technical building systems 2.0 – €4.0m 2.0 – €4.0m €0.5m 1.2 – 1.6m €0.6m Expansion of onsite ren
Slide 32: ESG-Ratings
ESG-Ratings Company Rating 2021 2022 2023 2024 2025 Sustainability Best Practice No Award No Award pending Recommondation DVFA Scorecard for Corporate 58,43 % (sufficient) 75,73 % (good) 72,78 % (good) pending Governance Public Disclosure B B A (93%) A (93%) pending Corporate Rating 28,23 (D+) 39,45
Slide 33: Appendix
Appendix Retail Lengerich
Slide 34: Top-10 properties (1/2)
Top-10 properties (1/2) Mannheim Berlin München Cologne Karlsruhe Asset type Retail Office Office Office Retail Year of 2016 2013 2013 2017 2012 acquisition Purchase price €80.0m €33.0m €40.2m €49.0m €37.0m Fair value1 €74.5m €59.4m €57.4m €55.3m €52.9m Annual rents €4.0m €2.6m €2.9m €3.3m €3.0m WAL
Slide 35: Top-10 properties (2/2)
Top-10 properties (2/2) Hanau Hallstadt Aachen Celle Darmstadt Asset type Retail Retail Office Retail Retail Year of 2017 2017 2020 2015 2018 acquisition Purchase price €37.5m €40.4m €37.4m €35.2m €31.0m Fair value1 €44.3m €38.6m €38.5m €38.3m €33.6m Annual rents €2.3m €2.5m €2.3m €2.1m €2.0m WALT1
Slide 36: Portfolio Rotation
Portfolio Rotation Transactions since strategy update in July 2020 Implementation of adjusted strategy 27 disposals since strategy update in Portfolio as of 30 June 2020 Portfolio as of 30 June 2025 2020 Assets 83 Assets 64 Total sales volume of €236.9 with 4.7% Portfolio Volume €1,631m Portfolio Vo
Slide 37: Real Estate Investment Trust (REIT) – Main requirements for G-REITs
Real Estate Investment Trust (REIT) Main requirements for G-REITs stock exchange > 15% < 10% > 45% > 75% > 75% > 90% listing Free float directly held Equity ratio of assets of earnings payout of profit shares per invested from (German GAAP) shareholder in properties property management Exemption fro
Slide 38: Financial Calendar
Financial Calendar Quarterly financial statement Q3 2025 6 November 2025 Publication annual financial report 2025 22 April 2026 Publication preliminary figures 2025 26 February 2026 Quarterly financial statement Q1 2026 7 May 2026 Appendix | 38
Slide 39: Contact
Contact Niclas Karoff Sarah Verheyen CEO/CFO COO/CIO E-Mail: n.karoff@hamborner.de E-Mail: s.verheyen@hamborner.de Christoph Heitmann HAMBORNER REIT AG Datei:LinkedIn logo initials.png Head of Investor Relations, www.hamborner.de Financing & Corporate Communications info@ir.hamborner.de +49 (0)203/5
Slide 40: Disclaimer
This presentation has been prepared and/or issued by HAMBORNER REIT AG (hereinafter "HAMBORNER") solely for information purposes. This presentation may contain statements, assumptions, opinions and predictions about the anticipated future development of HAMBORNER ("forward-looking statements") that