Slide 1: CTP N.V. Financial Highlights FY-2024
Save the date: Capital Markets Day CTP N.V. September 24-25 in Wuppertal, Germany Financial Highlights FY-2024 27 February 2025
Slide 2: FY-2024: a record year, backed by long-term demand drivers
FY-2024: a record year, backed by long-term demand drivers Financial highlights Operational highlights €664m €941m 93% (94% as at 31 Dec 2023) 6.4 yrs (+16.1% vs. FY-2023) (+7.1% vs. FY-2023) (6.5 years as at 31 Dec 2023) Gross Rental Income Net valuation results on Occupancy WAULT investment proper
Slide 3: CTP: pan-European platform and market leader in the CEE
CTP: pan-European platform and market leader in the CEE Core Markets Growth Markets 13.3m sqm GLA 1.8m Western European Markets BRNO Portfolio Value by Country (%) sqm GLA under construction NL AU GE 3.2% 1.5% 26.4m 8.8% BU 1.8% RS 3.6% sqm landbank PL 7.3% €16.0bn 138MWp CZ 43.5% SK GAV 7.2% Instal
Slide 4: Accelerated growth since IPO in March 2021
Accelerated growth since IPO in March 2021 IPO 03/2021 +127% +110% +172% SQM of GLA (in millions) 14.0 13.3 11.8 12.0 10.5 10.0 Growth in GLA Growth in Landbank growth in Investment 2020- 2024 from 5.9 million sqm to from 12.6 million sqm to Property 8.0 7.6 CAGR: 23% 13.3 million sqm 26.4 million s
Slide 5: Integrated and derisked business model
Integrated and derisked business model 13.3 million sqm GLA in existing parks / >1,000 clients 87% client retention and 57% in existing parks and ~2/3 of new leases signed 33% in new parks with with existing clients potential for over 10 – 15% new space 100,000 sqm of GLA developed per year Business
Slide 6: Strong and consistent development track record
Strong and consistent development track record Expected YoC Pre-let at delivery Projects under construction 94% 13.5% 92% 11.6% 86% 86% 10.8% 11.0% 80%-90% 10.1% 10.3% 10.3% target 81% range 80% 80% 2018 2019 2020 2021 2022 2023 2024 2018 2019 2020 2021 2022 2023 2024 NB: Figures may not add up due
Slide 7: Unlocking the landbank value driving double-digit NTA growth
Unlocking the landbank value driving double-digit NTA growth FV of landbank on balance sheet of: ~€60 per sqm Average construction costs: ~€500 per sqm Total investment costs1: ~€620 (€500 + 2 * €60) per sqm Investment Properties valued at ~€1,030 (excluding the older German DIR portfolio) per sqm P
Slide 8: Leasing activity accelerated in Q4
Leasing activity accelerated in Q4 Leases signed by sqm Q1 Q2 Q3 Q4 FY 2022 441,000 452,000 505,000 485,000 1,883,000 2023 297,000 552,000 585,000 542,000 1,976,000 +7% 2024 YoY sqm of leases signed 2024 336,000 582,000 577,000 618,000 2,113,000 YoY growth +13% +5% -1% +14% +7% Average monthly rent
Slide 9: Adjusted for country mix, rent levels of new leases signed in 2024 3% higher than in 2023
Adjusted for country mix, rent levels of new leases signed in 2024 3% higher than in 2023 PL €4.99 €4.78 NL €10.23 €10.10 SK €5.56 2023 2024 €5.26 310,000 309,000 DE sqm sqm €5.75 21,000 21,000 €5.08 sqm sqm 2023 2024 211,000 146,000 Group CZ sqm sqm €5.69 €5.68 2023 2024 HU RO €7.19 €7.23 €5.86 197
Slide 10: Increase in HoTs signed, reflecting future leasing activity
Increase in HoTs signed, reflecting future leasing activity HoTs signed 350 300 250 200 150 100 50 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec #HoTs '24 #HoTs '23 NB: Figures may not add up due to rounding 10
Slide 11: Nearshoring drives demand from manufacturing tenants
Nearshoring drives demand from manufacturing tenants, which are strongly represented in CTP’s portfolio Portfolio December 2024 Leases signed in last 24 months GLA split by industry (%) GLA split by industry (%) 1 Professionalization of supply chains, following Services Other Other CEE countries joi
Slide 12: Over 10% of portfolio leases to Asian clients producing in Europe for Europe
Over 10% of portfolio leases to Asian clients producing in Europe for Europe GLA of Asian tenants 1,500,000 1,300,000 ~20% of leases signed in 2024 1,100,000 900,000 700,000 500,000 300,000 2018 2019 2020 2021 2022 2023 2024 12
Slide 13: Strong and diversified international client base
Strong and diversified international client base Low operational and financial risk 38.4% 35.2% Top 50 Clients Top 50 as a % of Top 50 as a % of GLA split by industry (%) portfolio GLA Rental Income 3PLS: 10.8% AUTOMOTIVE: 9.0% E-COMMERCE, RETAIL, WHOLESALE AND DISTRIBUTION: 5.5% NB: Figures may not
Slide 14: CTP's long-lasting tenant relations drive strong retention and collection rates
CTP’s long-lasting tenant relations drive strong retention and collection rates Occupancy1 (%) 95% 94% 94% 94% 87% 99.8% 93% Tenant retention Collection rate FY-2020 FY-2021 FY-2022 FY-2023 FY-2024 4.0% 71% CTP’s market share in core markets2 (%) 28.8% 27.8% 27.5% 27.4% Like-for-like rental growth3
Slide 15: Successful leasing of 2024 deliveries
Successful leasing of 2024 deliveries 1,286,000 92% Leased at delivery sqm delivered €83.4m €7.3m CTPark Szigetszentmiklós Contracted rental income Additional rental income potential when full occupancy is reached 10.1% YoC 94% In existing parks or in new parks with >100k sqm potential CTPark Warsaw
Slide 16: Next growth phase locked in thanks to projects under development
Next growth phase locked in thanks to projects under development 1,753,000 10.3% 80-90% sqm under construction Expected YoC Expected pre-let at delivery 80% In existing parks 7% 35% Pre-let 2025 deliveries €142m Potential rental income In new parks with >100k sqm potential 80,000 sqm signed for futu
Slide 17: Energy
Energy 138 → YoC target: 15% MWp Installed 100 → Cost per MWp: ~€750k – below market average thanks to CTP acquiring in bulk and PV ready roof structures since 2020 → Income: 1-year lag between installation and income, i.e. MWp installed in 2024 drive 2025 income 38 → 2024 revenues: €7.6 million (+2
Slide 18: ESG integrated in CTP business model
ESG integrated in CTP business model NB: These results shall not be construed as investment advice or expert opinion as defined by the applicable legislation. 18
Slide 19: Growth plan on track to reach 20 million sqm before end of the decade
Growth plan on track to reach 20 million sqm before end of the decade Standing portfolio & under construction Deliveries Million sqm - owned Million sqm 14 1.8 2.0 12 1.7 10 1.3 13.3 1.2 1.0 8 1.0 11.8 0.9 10.5 0.6 6 0.7 7.6 5.9 4 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Owned 3 Standing po
Slide 20: Financial results
Financial results 20
Slide 21: Financial highlights
Financial highlights In € million FY-2024 FY-2023 % change Q4-2024 Q4-2023 % change Gross Rental Income 664.1 571.9 +16.1% 175.7 150.3 +16.9% Net Rental Income 646.8 543.4 +19.0% 170.9 140.9 +21.3% Net valuation result on investment property 941.5 878.7 +7.1% 337.4 222.4 +51.7% Profit for the period
Slide 22: Gross Asset Value up 17.2% in 2024
Gross Asset Value up 17.2% in 2024 Investment Property (IP), Investment Property under Development (IPuD) and Property, Plant & Equipment (PPE) (€ million) GAV: 5,872 8,460 11,486 13,633 15,980 248 2020- 2024 1,292 CAGR: 28.4% 234 1,077 920 169 1,360 763 1,193 111 527 774 99 326 387 5,060 7,048 9,36
Slide 23: Rental growth and pipeline drive valuation results
Rental growth and pipeline drive valuation results Revaluation (YTD) (€ million) 1000 +61.2 941.5 900 +380.4 800 2024 like-for-like revaluation of 700 +5.9% driven by like-for-like ERV growth of +4.9% 600 500 +499.9 400 300 200 100 0 Standing assets including IPuD Landbank 2024 stabilization of deli
Slide 24: EPRA NTA up 13.6%, driven by positive revaluations
EPRA NTA up 13.6%, driven by positive revaluations EPRA NTA € per share +€1.98 €18.08 -€0.57 -€0.03 +€0.80 €15.92 FY-2023 Company specific adjusted Revaluation Dividend Others FY-2024 EPRA EPS NB: Figures may not add up due to rounding 24
Slide 25: Conservative valuation yields
Conservative valuation yields FY-2024 H1-2024 FY-2023 H1-2023 FY-2022 H1-2022 → Yields have peaked in the Industrial & Logistics sector in the CEE region, and started to come down Gross Portfolio yield 6.6% 6.5% 6.7% 6.6% 6.5% 6.3% → Yield differential between CEE and Western European logistics yiel
Slide 26: Favourable maturity profile reflects active liquidity management
Favourable maturity profile reflects active liquidity management Bonds 3.09% Conservative residual Unsecured loans maturity of debt Secured loans (€ million) 1,656 Average cost of debt 1,497 1,484 99.9% Hedged / fixed 698 647 582 562 533 407 34 5.0 yrs Average debt maturity 2025 2026 2027 2028 2029
Slide 27: Strong liquidity position and ample headroom to covenants
Strong liquidity position and ample headroom to covenants €2.2bn 9.1x Normalized Net Debt 31 Dec. 2024 Covenant Liquidity to EBITDA Secured Debt Test 16.9% 40% 64% Unsecured debt 45.3% LTV Unencumbered Asset Test 193.2% 125% CREDIT RATINGS Interest Cover Ratio 2.6x 1.5x BBB- Baa3 A- (stable) (stable
Slide 28: Good access to credit markets, €2.4 billion raised and upsized RCF
Good access to credit markets, €2.4 billion raised and upsized RCF January 2024: February 2024: March 2024: May 2024: RCF Secured Loan Green Bond Secured Loan Secured Loan → Increased to €1,300 Facility Facility Facility million → New maturity date: → €100 million → €750 million → €90 million → €168
Slide 29: Outlook
Outlook → Leasing dynamics remain strong, with robust occupier demand, and decreasing new supply supporting ongoing rental growth → The Group’s pipeline is highly profitable with a YoC target of >10% and tenant led. The YoC for CTP’s current pipeline increased to 10.3%, thanks to decreasing construc
Slide 30: Guidance
Guidance Guidance 2025 Growing dividend Dividend policy1 Dividend per share €0.300 €0.290 €0.275 €0.86-€0.88 €0.230 €0.250 70% - 80% €0.220 2025 Company specific pay-out €0.180 adjusted EPRA EPS €0.170 +8-10% vs. 2024 Interim Final Interim Final Interim Final Interim Final 2021 2021 2022 2022 2023 2
Slide 31: Long-term potential
Long-term potential Annualized rent in million EUR Medium to long-term Short-term >1,200 96 >1,000 53 15 142 21 743 Annualized rent Completion of Filling up Indexation Reversion Future Annualized rent Reversion 20 million sqm Potential Full 31/12/2024 existing pipeline vacancy 2025-2027 2025-2027 de
Slide 32: Appendices
Appendices 32
Slide 33: Total return
Total return € per share EPRA NTA growth 20 DPS paid €18.08 18 €2.73 -€0.57 16 -€0.48 €2.59 14 Total Return: +17% €2.15 -€0.40 12 Total Return: +19% -€0.17 10 €3.91 Total Return: +18% €8.32 8 Total Return: +47% 6 4 2 0 31 December NTA growth 2021 Dividend NTA growth2022 Dividend NTA growth 2023 Divi
Slide 34: Top 20 Parks 2.6m sqm
Top 20 Parks Since: 2015 Since: 2006 Since: 2015 Since: 2004 Since: 2006 The Top 20 parks represent the core of the CTPark Network. They are thriving business communities, with a dynamic mix of clients RO RO CZ RO RO CZ CZ CZ from a broad range of industries. Bucharest West Bor Bucharest Brno Ostrav
Slide 35: Top 20 Parks 2.6m sqm
Top 20 Parks Since: 2024 Since: 2020 Since: 2002 Since: 2021 Since: 2015 The Top 20 parks represent the core of the CTPark Network. They are thriving business communities, with a dynamic mix of clients RO CZ CZ CZ CZ SK RO RO from a broad range of industries. PL Warsaw West Brno Líšeň Hranice Námest
Slide 36: EPRA EPS
EPRA EPS EPRA Earnings (€ million) 2024 2023 Earnings per IFRS income statement 1,081.4 922.6 Adjustments to calculate EPRA Earnings, exclude: Changes in value of investment properties, development properties held for investment and other interests 941.5 878.7 Profits or losses on disposal of invest
Slide 37: Company Specific Adjusted EPRA Earnings P&L
Company Specific Adjusted EPRA Earnings P&L Non-recurring Company specific (€ million) IFRS Adjustments adjusted EPRA Earnings Rental Income 664.1 0.6 664.7 Service charge income 75.9 75.9 Property operating expenses -93.2 0.4 -92.8 Net rental income 646.8 1.0 647.7 Net income / expenses from renewa
Slide 38: EPRA NAV
EPRA NAV EPRA Net Asset Value Metrics (€ million) EPRA NRV EPRA NTA EPRA NDV 31 December 2024 31 December 2023 31 December 2024 31 December 2023 31 December 2024 31 December 2023 IFRS Equity attributable to shareholders 7,351.2 6,166.9 7,351.2 6,166.9 7,351.2 6,166.9 Include / Exclude: i) Hybrid ins
Slide 39: EPRA NIY
EPRA NIY EPRA NIY and 'topped-up' NIY (€ million) 31 December 2024 31 December 2023 Investment property – wholly owned 15,732.1 13,398.8 Investment property – share of JVs/Funds Trading property (including share of JVs) Less: developments 1,076.8 1,359.6 Less: landbank 1,292.4 919.8 Completed proper
Slide 40: LTV
LTV LTV (€ million) 31 December 2024 31 December 2023 Investment Property 14,655.3 12,039.2 Investment Property under Development 1,076.8 1,359.6 Property, Plant and Equipment 248.4 233.8 Gross Asset Value 15,980.5 13,632.6 Bonds 4,043.1 3,590.0 Interest-bearing loans and borrowings from financial i
Slide 41: Cost of debt
Cost of debt Cost of Debt (€ million) 31 December 2024 31 December 2023 Net finance costs (IFRS) -181.1 -111.7 To be excluded: Profit in loss from fin assets and liabilities for trading -1.9 -1.7 Exchange rate differences 5.9 9.2 Other financial income 37.2 1.0 Other financial expense -17.3 -8.5 Int
Slide 42: Portfolio
Portfolio GAV1 Standing2 Landbank2 IPuD PPE Portfolio split by value (in %) (€15,981m) (€13,363m) (€1,292m) (€1,077m) (€248m) Czech Republic 42% 44% 27% 35% 63% Romania 15% 17% 10% 3% 9% Germany 10% 10% 19% 8% 4% Hungary 8% 9% 9% 3% 5% Slovakia 7% 7% 9% 14% 2% Poland 7% 5% 15% 23% 2% Serbia 4% 4% 4%
Slide 43: Portfolio
Portfolio Standing IPuD Landbank Portfolio split by sqm (‘000) (13,330 sqm) (1,752 sqm) (26,411 sqm) Czech Republic 4,362 33% 482 27% 8,583 32% Romania 3,119 23% 164 9% 4,188 16% Germany 1,674 13% 171 10% 1,452 5% Hungary 1,230 9% 127 7% 2,809 11% Slovakia 936 7% 160 9% 2,016 8% Poland 780 6% 283 16
Slide 44: Financial calendar
Financial calendar Event: Date: Annual General Meeting 22 April 2025 Q1-2025 results 8 May 2025 H1-2025 results 7 August 2025 Capital Market Days in Wuppertal, Germany 24-25 September 2025 Q3-2025 results 6 November 2025 44
Slide 45: Disclaimer
Disclaimer This announcement contains certain forward-looking statements with respect to the financial condition, results of operations and business of CTP. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “pla
Slide 46: Maarten Otte, Head of Investor Relations
Maarten Otte, Head of Investor Relations Mobile: +420 730 197 500 Email: maarten.otte@ctp.eu 46