Wereldhave N.v. · EURONEXT:WHA
Wereldhave — Investor Day (2023)
29 slides from Wereldhave's investor day presentation, 2023
Slide 1: Slide 1
Slide 2: Wereldhave
Wereldhave
Slide 3: 2017 - 2023, 2014 - 2017, 2009 - 2014, 2008 - 2009
2017 - 2023 2014 - 2017 2009 - 2014 2008 - 2009 73
Slide 4: sics
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Slide 5: De Koperwiek, Capelle a/d IJssel: Catchment area
De Koperwiek, Capelle a/d lJssel Catchment area den lJssel Total catchment area / y 828,300 inhabitants Primary pe 148,400 inhabitants rae a Secondary b A 679,900 inhabitants \ » Ouderkerk aan den lJssel Rotterdam i { 1 Krimpen aan. den ssel “i XS ba | Lekkerke ry ; . & eS A 9 de Koperwiek — Primary
Slide 6: De Koperwiek key figures
Size (m2) 31,012 Occupancy1) (% of Rent) 98.4 Average rent per m2 (€) 264 Everyday life retail (% of Total Rent) 79 Mixed-use (% of Total m2) 15 Partners (tenants) 100 Free Parking Spaces 835 Gross Initial Yield (%) 7.8 Annual footfall (m visitors) 6 NPS 21
Slide 7: De Koperwiek, Capelle a/d IJssel: Starting point
De Koperwiek, Capelle a/d lJssel Starting point De Koperwiek Acquisition * Acquired as two (distinct) assets in 2010 and 2014, which were directly connected Strengths * Perfect location for neighborhood shopping center * Solid working relationship with Municipality * Good accessibility (car, bike an
Slide 8: De Koperwiek, Capelle a/d IJssel: Redevelopment
De Koperwiek, Capelle a/d lJssel Redevelopment Highlights Development history: 2-stage (re)development 78 2015-2019: Development in order to strengthen heart of the center New parking garage (280pp) Adding several new anchor tenants (e.g. C&A, La Place) As of 2019: Start transformation to FSC Upgrad
Slide 9: FSC Transformation blueprint
FSC Transformation blueprint Highlights A Full Service Center with a broad convenience offering, combined with an extensive F&B offering and a gym Full Service Center transformation: * Interior refurbishment, incl. public seating & greenery * Wayfinding * Increase of daily: every.deli & Jumbo extens
Slide 10: the point
the point Our central service heart concept, combining a variety of much-requested services all in one place. Het serdeshart van De Kopenviek Services including: ° Package handling ° ATM * Tailor * Book 'Max mobiel ° Copy & Print ° Gift wrapping * Load public transport card Facts: * 240,000 visits (
Slide 11: What's next...
What’s next... Opening eat&meet square, indoor and outdoor (approx. 1,650m? F&B) in collaboration with Municipality, who is in charge of the upgrade of ‘Stadsplein' Opening 2024 om Su «0 pono M i a wat LFi@gme ee ee Bk = i a a | i Tie 5 oi [ol Tf —_—- a a 81
Slide 12: What's next...
What’s next... Feasibility study for realization of new apartment building, incl. AH extension as well as an upgrade of the final untouched part of the center. High-rise study under investigation by Municipality (Q2-2024). ] a JOH 82 = z ao wom matt Wereldhave
Slide 13: GRI increase driven by strong performance of both mixed-use and traditional retail tenants
GRI increase driven by strong performance of both mixed-use and traditional retail tenants Low effect due to use of _— GRI The phased transformation, vacant/hard-to-let units €k lead to strong performance of traditional retail tenant already 900 priortofulldeliveryasFSC [i - ———— 2,625 m? extension
Slide 14: Pre-Transformation situation vs FSC De Koperwiek
Pre-Transformation situation FSC De Koperwiek GRI (€ m) 6.3 GRI (€ m) 7.9 Discount rate 6.2% Discount rate 6.0% Long-term rental growth1) 0.0% Long-term rental growth1) 1.0% CAPEX (€ m) 4 CAPEX (€ m) 33 Unlevered IRR 6.6% Unlevered IRR 7.6%
Slide 15: ESG progress
ESG progress * 30% CO, reduction achieved by 2024/2025 * (Re)development phase 2 made a tremendous improvement in CO, reduction * Aim to install PV panels in 2024 to further reduce CO Paris Proof Roadmap Koperwiek 1200000 Energy efficiency, insulation, PV Install water pumps and heat recovery, PV Pl
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Slide 18: 2017 - 2023, 2016 - 2017, 2011 - 2016, 2006 - 2011
2017 - 2023 2016 - 2017 2011 - 2016 2006 - 2011 88
Slide 19: sics
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Slide 20: Sterrenburg, Dordrecht: Catchment area
Sterrenburg, Dordrecht Catchment area Total catchment area 406,400 inhabitants Primary 126,200 inhabitants Secondary 280,200 inhabitants 90 dam \ Oud-Alblas ~N\ SS Pa pehcrech AN) \ a N\ piaderkane widasce Va, —S- : — =i ce \\ SliedrechE™—~ ) — 7 ud-Beijerland aN y) ey, Westmaas nie 9 Full Service C
Slide 21: Sterrenburg key figures
Size (m2) 17,648 Occupancy1) (% of Rent) 99.7 Average rent per m2 (€) 238 Everyday life retail (% of Total Rent) 92 Mixed-use (% of Total m2) 19 Partners (tenants) 50 Free Parking Spaces 500 Gross Initial Yield (%) 7.6 Annual footfall ( m visitors) 4.1 NPS 19
Slide 22: Tenant changes and requests
Move and increase to 500 m2 decrease • Will be temporarily filled 50 m2 50 m2 50 m2 decrease decrease increase with Kruidvat • • • • Wants to increase with at least 100 Potential tenant change Wants to increase to 200 m2 • m2 • Move to Jumbo and increase to 1750 m2 Will become 450 m2 • Wants to decr
Slide 23: FSC Transformation blueprint
FSC Transformation blueprint Highlights A convenience-focused Full Service Center that perfectly fits its catchment area Full Service Center transformation: * Extension traditional Jumbo (2,200 m?) : to Jumbo Foodmarket (4,500 m?) every set - opened 2022, performing above budget ac 7 veces * New mix
Slide 24: Strong performance and further improvement expected
Strong performance and further improvement expected Total Return Yield NPS Mixed-use % %, Net % of floor space 10.6% 5.8% 5.6% 19 19% 6.0% 10% 8 Target H1 2023) Pre H1 2023 Pre Q3 2023 Pre Q3 2023 transformation transformation transformation GRI Annualized Footfall Occupancy €m m, YTD Q3 % 4,0 34 98
Slide 25: GRI increase driven by extension and strong performance of physical retail
GRI increase driven by extension and strong performance of physical retail post transformation to FSC Without transformation, indexation could not have GRI ek been passed through fully and maintained afterwards 4,400 m? extension 83 GRI Pre transformation Extension Occupancy Rental Growth Mixed-Use
Slide 26: Pre-Transformation situation vs FSC Sterrenburg
Pre-Transformation situation FSC Sterrenburg GRI (€ m) 2.8 GRI (€ m) 4.0 Discount rate 5.6% Discount rate 5.4% Long-term rental growth1) 0.0% Long-term rental growth1) 1.0% CAPEX (€ m) 4 CAPEX (€ m) 27 Unlevered IRR 6.4% Unlevered IRR 7.6%
Slide 27: Carbon emissions
• • • 97 Carbon emissions 0 1000000 1200000 1400000 200000 400000 600000 800000 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Sterrenburg (algemeen + huurders) 2030 2031 2032 2033 2034 2035 2036 30% by 2030 2037 2038 2039 2040 2041 2042 2043 Parisproof 2045 2044 2045
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