Care Property Invest Sa · EURONEXT:CPINV
Care Property Invest Sa — Investor Presentation (September 2026)
51 slides from Care Property Invest Sa's investor presentation, September 2026
Slide 1: Building a Caring Future Together – HY 2026
HY 2026 Building a Caring Future Together
Slide 2: CEO and CFO contact details
BuildingaCaringFutureTogether CEO CFO Patrick Couttenier Filip Van Zeebroeck /couttenier /FilipVanZeebroeck patrick.couttenier@ filip.vanzeebroeck@ carepropertyinvest.be carepropertyinvest.be +32 478 88 30 49 +32 494 91 10 93 Care Property Invest I 2
Slide 3: Agenda
Care Property Invest Building a Caring Future Together 3 01 Care Property Invest In a nutshell 02 Our portfolio High-end and sustainable buildings 03 Strategic focus Building a caring future together 04 Financial information Figures and guidance 05 Share and shareholders A solid dividend investment
Slide 4: Care Property Invest in a nutshell
Care Property Invest in a nutshell Building a Caring Future Together www.carepropertyinvest.be 01
Slide 5: Company profile
Care Property Invest Care Property Invest in a nutshell 5 Company profile Pure Play Healthcare Belgian REIT / EPRA Lean, mean and agile organisation structure Profitability in line with conservative risk profile Index Growth potential in all Stable Cash Flows based on 4 Core Countries markets LT con
Slide 6: Key figures HY 2026
Care Property Invest Care Property Invest in a nutshell 6 Key figures HY 2026 Financial Operations Risk Fair value portfolio: 1.39 B EUR 4 Countries EPRA LTV: 48.19% • Leases: 212 M EUR (15%) 160 sites Headroom on financing: 74 M EUR • Investm. Prop. : 1,179 M EUR (85%) 25 operators Average cost of
Slide 7: Split in investment properties vs finance leases; evolution of fair value
Care Property Invest Care Property Invest in a nutshell 7 Split in investment properties vs Evolution of fair value of total portfolio finance leases at fair value in million EUR as at 30 June 2026 €1,400 m 15% €1,200 m €1,000 m €800 m €600 m €400 m 85% €200 m Finance leases (IFRS 16) €0 m 2013 2014
Slide 8: Projects: new acquisitions 2025
Care Property Invest Care Property Invest in a nutshell 8 Projects NEW ACQUISITIONS 2025 Project Location Date Type Conv. Value Agreement Operator (in € million) Belgium Berkenhof Heers 02/12/2025 Acquisition € 19.0 20 Y - triple net Korian Frederickxhof Lummen 02/12/2025 Acquisition € 12.5 20 Y - t
Slide 9: Projects: disposals and completions
Care Property Invest Care Property Invest in a nutshell 9 Projects DISPOSALS 2025 Project Location Selling Date Type Conv. Value Agreement Operator (in € million) Belgium De Nieuwe Ceder Deinze 01/10/2025 Investment Property € 9.4 N/A Selys & Kompas Total € 9.4 NEW COMPLETIONS 2026 Project Location
Slide 10: Our portfolio: High-end and sustainable buildings
Our portfolio High-end and sustainable buildings Building a Caring Future Together www.carepropertyinvest.be 02
Slide 11: Our portfolio: 4 core markets
Care Property Invest Our portfolio 11 • CP Invest focuses on 4 core markets within the Eurozone/EEA: Belgium, The Netherlands, Spain and Ireland. Ireland • CP Invest’s real estate portfolio is distributed (in terms of Fair FV: €95 m United Kingdom Value) as follows: Belgium (66%), The Netherlands (1
Slide 12: Belgian healthcare real estate market
Care Property Invest Our portfolio 12 Population 100 +136% Projected +136% 80 growth in age cat. 85+ +20% total population of +20% in age 60 cat. 66-85 +9.4% 40 +9.4% Evol. ageing population 20 85+ 66-85 Age bracket now 2040 2070 0-65 65+ (nominal) 2.4m 3.0m 3.5m 0 2025 2030 2040 2050 2060 2070 65+
Slide 13: Dutch healthcare real estate market
Care Property Invest Our portfolio 13 Population +157% Projected +157% growth total in age cat. 85+ +13% population of +13% +15.3% in age cat. 66-85 +15,3% Evol. ageing population 85+ 65-85 Age bracket now 2040 2070 0-65 65+ (nominal) 3.7 4.8m 5.5m 2025 2030 2040 2050 2060 2070 65+ (in %) 20.5% 25%
Slide 14: Spanish healthcare real estate market
Care Property Invest Our portfolio 14 Population 100 +157% Projected +152% growth in age cat. 85+ 80 +13% total population of +31% 60 in age cat. 66-85 +6.7% 40 +6.7% Evol. ageing population 85+ 20 65-85 Age bracket now 2040 2070 0-65 65+ (nominal) 11.5m 14.6m 16.4m 0 2025 2030 2040 2050 2060 2070 6
Slide 15: Irish healthcare real estate market
Care Property Invest Our portfolio 15 Population 100 +250% Projected +250% growth in age cat. 85+ 80 +72% total population of +72% in age 60 +24.4% cat. 66-85 40 Evol. ageing population +24.4% 85+ Age bracket now 2055 20 66-85 Total population 5.1 m 6.4m 0-65 Total population - +25.5% 0 2022 2027 20
Slide 16: Geographical distribution
Care Property Invest Our portfolio 16 Geographical Geographical distribution of the number of projects Geographical distribution of the number of residential units distribution (1) 7% 6% 9% 9% 9% 35% 39% 11% 160 acquired projects in portfolio 11% as at 30 June 2026 13% 32% 18% 30 June 2026 30 June 2
Slide 17: Distribution of projects by age of the buildings
Care Property Invest Our portfolio 17 Distribution Investment properties projects by age in operation 1% 11% of the buildings 32% 11% 18% < 1 year ago 1 to 5 years ago 5 to 10 years ago 27% 10 to 15 years ago 15 to 20 years ago 30 June 2026 >20 years ago
Slide 18: Lease maturity
Care Property Invest Our portfolio 18 Lease Maturity Unexpired lease term Average unexpired lease term by country 30 Investment properties Investment properties 3% 1% 25 19% Average: 18 years 20 15 51% 18 years 17 years 18 years 10 16 years 5 26% 0 30 June 2026 Belgium The Netherlands Spain Ireland
Slide 19: The legacy portfolio of finance leases
Care Property Invest Our portfolio 19 The legacy Initiative of the Flemish government portfolio of Building and financing of 2,000 qualitative and affordable finance leases service flats targeted at 75+ year-olds (assisted living units) in Flanders and Brussels How it started Cooperation with: Local
Slide 20: Project structure
Care Property Invest Our portfolio 20 Project structure Structure subsidised by the Flemish Government Triple net leasehold contracts (1) Design-build-finance structure with 100% investment repayment at end of leasehold. Average remaining term of the finance leases (initial portfolio only) at 30 Jun
Slide 21: Annual rental income loss and replacement value
Care Property Invest Our portfolio 21 Annual rental income loss and average needed replacement value - in k EUR Annual rental income loss Average replacement value at 5.75% yield 0 25,000 20,000 −500 -898k -898k 15,000 −1,000 12,310 10,000 −1,500 5,000 −2,000 0 2025 2026 2027 2028 2029 2030 2031 203
Slide 22: Distribution of operators
Care Property Invest Our portfolio 22 Belgium Spain 3% 3% 3% 3% 3% 4% Colisee Emera 4% 20% 4% 23% Hesta-C/My Assist Forum de Inversiones 4% Public Inmobiliarias Mare Nostrum S.A. 4% Orelia Other (1) 5% 6% Korian Ireland 5% Vulpia Silverstream Healthcare 6% Other(1) (2) 17% DomusVi 15% 10% The Nether
Slide 23: Strategic focus: Building a caring future together
Strategic focus Building a caring future together Building a Caring Future Together www.carepropertyinvest.be 03
Slide 24: Strategic focus: moving within strategic boundaries
Care Property Invest Our strategic focus 24 Strategic focus: moving within strategic boundaries 2026-2027 Tekengebied 1 Europa Focus remains on 4 existing Focus on strong financial structure geographic markets for new growth and interest risk management Belgium, The Netherlands, Spain and Ireland •
Slide 25: Sustainability highlights
Care Property Invest Our strategic focus 25 Sustainability highlights ESG remuneration 35% of the total pay-out of management’s Validated targets Energy Efficiency target 35% long-term incentive is subject to ESG criteria and is paid out if the Company’s long-term sustainability goals are achieved.
Slide 26: Sustainability reporting
Care Property Invest Our strategic focus 26 Sustainability reporting Our Sustainability Strategy Built around three commitments: CO₂ emissions 1. Investing in Sustainable Buildings 2. Building Lasting Relationships 3. Leading Through Ethical Practices Commitment Beyond Regulation While the Company i
Slide 27: Cybersecurity and ICT
Care Property Invest Our strategic focus 27 Cybersecurity IT - and Cyber Security improvements are focus points in the ongoing digital transition. and ICT • Providing security awareness for all employees via trainings and test • All information is stored on secured cloud servers within Europe • Addi
Slide 28: Financial information: Figures and guidance
Financial information Figures and guidance Building a Caring Future Together www.carepropertyinvest.be 04
Slide 29: HY 2026 Figures
Care Property Invest Figures and guidance 29 HY 2026 Figures Operational KPI’s Guidance 2026: Average indexation 2026: 2.45% Occupancy rate: 100% Sustained dividend - stable average real occupancy rate: 94.57% at 30 June 2026 We dispose of a well–managed portfolio of assets in well-chosen geographie
Slide 30: Key figures P&L statement
Care Property Invest Figures and guidance 30 Key figures Period closed on 30 June - in K EUR 2026 Var 2025 Var 2024 Net rental result 40,846 11.60% 36,599 6.56% 34,346 P&L Real estate operating result 40,839 11.62% 36,589 6.55% 34,341 General expenses and other operating result (cash) -4,722 -19.77%
Slide 31: Rental income
Care Property Invest Figures and guidance 31 Rental income In million EUR €50.00 €3.64 €0.39 €0.30 €0.07 €40.99 €40.00 €36.59 €30.00 €20.00 €10.00 €0.00 Rental Income June YTD 2025 Belgium The Netherlands Spain Ireland Rental Income June YTD 2026 Change : BE NL ES IE Total Change : 15.02% 5.91% 9.95
Slide 32: Rental income breakdown
Care Property Invest Figures and guidance 32 Rental income Breakdown (in K €) Finance leases Investment properties €50,000 €40,000 €30,000 80% 76% 74% €20,000 72% 67% 62% 54% €10,000 47% 42% 27% 53% 46% 38% 33% 28% 26% 24% 20% 73% 58% €0 2017 HY 2017 2018 HY 2018 2019 HY 2019 20202020 HY 2021 HY 202
Slide 33: Key figures balance sheet
Care Property Invest Figures and guidance 33 Key figures Consolidated in K EUR balance HY 2026 FY 2025 FY 2024 Receivables financial leases 165,672 165,814 166,440 sheet Trade payables related to fixed assets 6,932 7,365 8,192 Investment properties 1,178,698 1,175,906 1,015,282 Other assets not incl
Slide 34: Like-for-like portfolio valuation
Care Property Invest Figures and guidance 34 Like-for-like 0.5% 0.4% 0.4% portfolio 0.3% valuation 0.2% 0.1% 0.14% 0.1% 0.04% 0.0% 0% −0.1% −0.2% Average overall valuation yield of 5.73% −0.3% −0.3% −0.4% −0.5% −0.6% −0.7% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Slide 35: Valuation yields
Care Property Invest Figures and guidance 35 Valuation 7.00% 6% 8% 6% 3% 4% yields 8% 4% 2% 1% 1% 6.0 6% 6.0 2% 2% 3% 0% 2% 6% 6% 5.9 3% 5.9 5.9 8% 5.8 5% 6% 9% 9% 5.8 5.8 5.8 5.8 7% 5.7 5.7 5.7 5.7 5.7 5.7 5.6 5.6 6.00% 5.6 5.5 5.5 5.5 5.4 5.4 5.4 5.00% 4.00% % 5.82% P1 = Q2/2025 P2 = Q3/2025 3.00%
Slide 36: Debt ratio under control
Care Property Invest Tekengebied 33 Figures and guidance 36 Debt ratio under control Debt Ratio 60% Under control 50% 48.19% 47.31% 47.14% 47.00% 46.36% 45.40% 43.55% EPRA LTV 40% 30% 20% 10% 0% 2023 2023 HYHY2024 2024 2024 2024 HYHY2025 2025 2025 2025 HY 2026 FC HY 2026 2026 FC 2026
Slide 37: Hybrid business model and EPRA LTV vs peers
Care Property Invest Figures and guidance 37 CPI’s hybrid business model results in an overstated EPRA LTV compared to peers • From an economic perspective, the Company’s finance lease portfolio should be viewed as a portfolio of receivables supported by government-backed cash flows. • Due to the pr
Slide 38: Financial headroom
Care Property Invest Figures and guidance 38 Financial EPRA LTV of 48.19% gives margin: Up to 45%: for €-81.2 million headroom Up to 50%: for €50.5 million Debt ratio Debt ratio of 49.89% (RREC-law) gives margin: Up to 50%: for €2.8 million Up to 60%: for €347.0 million (covenant credit contracts) U
Slide 39: Debt maturity wall
Care Property Invest Figures and guidance 39 Debt Maturity Wall in KEUR €200,000 €150,000 44,500 The undrawn credit For the funds which lines also include can be 'rolled over' the specific back- 84,000 10,000 up lines within the at the unilateral €100,000 framework of the request of CP Invest, MTN p
Slide 40: Weighted average interest rate and outstanding debts
Care Property Invest Figures and guidance 40 Weighted average 5% interest 674.4 700 659.3 4.5% rate and 4% 580.9 563.5 600 outstanding 540.7 3.5% 500 debts 3% 423.3 3.22% 3.11% 400 3.06% 2.5% 326.9 2.90% Weighted average debt maturity 2% 300 2.31% (incl. CP): 4.62 years 2.01% 1.5% 1.90% 200 Weighted
Slide 41: Financial obligations: hedge ratio
Care Property Invest Figures and guidance 41 Financial obligations Hedge ratio - future evolution 100% 8.04% 8.63% 5.45% 4.44% 12.87% Floating rate debt not hedged 27.06% 17.02% 17.02% Floating rate debt hedged - CAP 80% Floating rate debt hedged - IRS Fixed rate debt 60% 74.22% 55.71% 73.41% 55.50%
Slide 42: Debt structure
Care Property Invest Figures and guidance 42 Debt structure €21m Commercial paper (12%) 3% €21m Bonds (3%) €79m €79m 3% • Short-term CP program of max. 200 12% • Spread maturities to 2030 12% MEUR fully hedged • 5 bonds • Current margin 55 bps Loans (85%) • Existing CP is usually rolled over, but •
Slide 43: Net financial debt, EBITDA and interest coverage
Tekengebied 27 Care Property Invest EBITDA and interest coverage ratio Figures and guidance 43 Net financial debt EBITDA and interest coverage ratio 5% 14 Net financial debt/ 4.5 4.3 4.3 EBITDA 4.5% 4.2 4.1 Interest coverage ratio 12 3.8 Bank covenant limit 4% 13.5 3.4 3.5 3.5 CPInvest 11.9 3.2 10 3
Slide 44: Share and shareholders: A solid dividend investment
Share and shareholders A solid dividend investment Building a Caring Future Together www.carepropertyinvest.be 05
Slide 45: Turning dividends into durable performance
Care Property Invest Share and shareholders 45 Performance(1) 0.63 1.00 Total return of the share Attractive risk-return profile (incl. reinvestment of dividends) since IPO: 731% 851% 7.21% 7.69% Annual total return(2) 731% Consistent long-term returns underline robust performance 116% Annual averag
Slide 46: EPS and DPS evolution
Care Property Invest Share and shareholders 46 EPS and DPS Adjusted EPRA earnings per share (€/share) Gross dividend (in €/share) evolution 1.4 €1.24 (1) €1.16 1.2 (3) €1.06 (1) (2) €1.07 €1.11 €1.03 (1) €0.99 (1) €0.92 1 €0.86 €1.00 €1.00 €1.00 €1.00 €1.00 €0.74 0.8 A gross dividend of €1.00/share
Slide 47: Evolution stock price and EPRA NTA
Care Property Invest Share and shareholders 47 Evolution €30 stock price €28 €26 and EPRA €24 €22 NTA €20 €18 17.08 €16 €14 €12 12.6 €10 €8 €6 Stock price €4 EPRA NTA €2 €0 HY 2026 HY2020 FY 2025 HY2023 HY2024 HY2022 FY2020 FY2023 HY2019 FY2024 HY2016 FY2022 HY2018 HY2021 HY2017 FY2019 FY2016 FY2018
Slide 48: International and diversified shareholder base
Care Property Invest Share and shareholders 48 International and Diversified Shareholder Base Belgium 1.2% 2% 1.9% Luxemburg 2.3% 2.7% 100% free float France 4.3% United Kingdom • Institutional Shareholders: 4.3% Switzerland 37.0%. United States • Private Shareholders: Germany 57.2%. 9.2% • Unidenti
Slide 49: Key investment highlights
Key investment highlights Building a Caring Future Together www.carepropertyinvest.be 06
Slide 50: Key investment highlights
Care Property Invest Key investment highlights 50 1 management Sound financial Key investment 2 Operational highlights excellence 3 Long-term view on value creation 4 Opportunistically explore options to create shareholder value 5 Ready to accelerate growth if good opportunities arise
Slide 51: Thank you
Thank you Building a Caring Future Together www.carepropertyinvest.be
Care Property Invest — Investor Presentation (September 2026) on 6ix