Hamborner Reit Ag · XETR:HABA
Hamborner Reit — Investor Presentation (May 2026)
38 slides from Hamborner Reit's investor presentation, May 2026
Slide 1: Company Presentation May 2026
Company Presentation May 2026 Retail property in Lengerich
Slide 2: HAMBORNER at a glance – agenda
HAMBORNER at a glance Portfolio Overview Asset / Property Management Financials Sustainability / ESG Appendix Office property in Ratingen
Slide 3: HAMBORNER at a glance
HAMBORNER at a glance Company headquarter in Duisburg
Slide 4: HAMBORNER at a glance | Key Data as of March 2026
HAMBORNER at a glance | Key Data as of 31 March 2026 Geographical Portfolio Structure Shareholder Structure Key Investment Highlights ▪ High-yield and diversified real estate portfolio 87.8% 81,343,348 12.2% ▪ Stable cash flow with long-term predictability shares ▪ Strong focus on ESG and future iss
Slide 5: Portfolio Overview
Portfolio Overview Office property ‚Nu-Office‘ in Munich
Slide 6: Portfolio development
Portfolio development Portfolio value & average property value 2.000 50 1,589 1,625 1,604 1,609 1,517 1,471 40 1.500 1,441 1,363 1,349 1,341 1,115 30 1.000 23.6 24.4 22.0 21.8 20 20.3 21.0 21.0 18.4 19.5 19.4 500 16.2 10 0 0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q1 2026 Portfolio value i
Slide 7: Geographical portfolio structure
Geographical portfolio structure State Share of portfolio volume1 North Rhine-Westphalia 29.3% Baden-Württemberg 18.8% Bavaria 18.8% Hesse 11.9% Berlin 9.7% Lower Saxony 4.2% Bremen 1.8% Saxony 1.8% Schleswig-Holstein 1.6% Rhineland-Palatinate 1.5% Hamburg 0.9% Retail Office Retail Office 1 As of 31
Slide 8: Portfolio valuation as of December 2025
Portfolio valuation as of 31 December 2025 Portfolio development full-year 2025 ▪ Value development influenced by disposal of two properties (-€27.3m1) as well as decline in like-for-like portfolio value €763.7m €584.8m 56.6% 43.4% of -4.6% (-€65.1m) year-on-year ▪ Marginal decline in total value du
Slide 9: Sales activities
Sales activities 2025 2026 Lübeck Osnabrück Ditzingen Asset class Retail (High-Street) Office Retail (DIY) Year of acquisition 2016 2008 2016 Leased area ~13,500 m2 ~3,800 m2 ~10,000 m2 Annualized rent ~€2.3m ~€0.6m ~€0.9m Recent fair value ~€21.0m ~€6.5m ~€10.8m Selling price ~€20.9m ~€6.5m ~€11.9m
Slide 10: Portfolio key metrics as of March 2026
Portfolio key metrics as of 31 March 2026 Asset class Total portfolio Investment approach Retail % Office % Split Core % Manage-to-Core1 % Number of properties 37 58.7% 26 41.3% 63 57 90.5% 6 9.5% Fair value €751.8m 56.1% €589.2m 43.9% €1,341.0m €1,253.1m 93.5% €88.0m 6.5% Leased area 370,082 m² 62.
Slide 11: Rent development
Rent development Development of annualized rents (year-on-year)1 +€1.8m -€1.1m -€4.1m €91.2m €87.8m -1.2% +2.0% -4.5% Annualized rents Indexation Re-lettings / Property disposals Annualized rents 31 March 2025 Vacancy change 31 March 2026 Rent development like-for-like (year-on-year)1 Asset class To
Slide 12: Strategy Update (1/3)
Strategy Update (1/3) Strategic framework Key elements ▪ Local supply with fast moving consumer goods (FMCG) – ▪ Strategic focus on retail properties in the local supply sector especially concerning food - overall characterized by stable and DIY stores structural demand, high cash-flow visibility an
Slide 13: Strategy Update (2/3)
Strategy Update (2/3) Adjustment of Portfolio Structure Updated acquisition profile (excerpt) ▪ Expansion of search profile on Core+ properties − stable and long-standing retail occupancy 10-20% − dominant positioning in the catchment area 44% − good visibility and transport links ▪ Geographical add
Slide 14: Strategy Update (3/3)
Strategy Update (3/3) Aquisition profile Locations, volume and risk classes FMCG properties Location qualities ▪ Fast-moving consumer goods are retail properties whose main tenants sell everyday ▪ Retail properties in retail park agglomerations, central city centre locations, goods. These include, i
Slide 15: Asset-/Property Management
Asset-/Property Management Retail property ‚Rondo Steinheim‘ in Hanau
Slide 16: Tenant structure
Tenant structure Top-10 tenants1 Sector distribution1 Tenant Sector Rent Sector Rent EDEKA Food retail 14.1% Food 34.6% Kaufland Food retail 7.6% IT / Communication 11.3% REWE Food retail / DIY 7.1% DIY 10.4% OBI DIY 7.0% Finance / Insurance 7.2% GLOBUS Food retail / DIY 4.5% Agency of unemployement
Slide 17: Leasing situation
Leasing situation Weighted average lease expiry1 Letting result 3M 2026 9,866 m² 8,775 m² 63% 60% 6.3 years 5.2 years 3.8 years 94% 1,091 m² 40% 37% 6% Retail Office Total New lettings Contract extensions Total Retail Office 20,0% Lease expiry schedule2 15,0% 3.9 5.2% 10,0% 8.4% 1,1% 9.2% 6.5% 0.4%
Slide 18: Financials
Financials Office property / specialist medical centre in Regensburg
Slide 19: Key figures 3M 2026
Key figures 3M 2026 Key figures 3M 2026 3M 2025 Change From the income statement Income from rents and leases €22.6m €23.0m -1.9% Operating result €6.1m €5.9m +2.6% Period result €2.8m €2.5m +10.7% Key earnings figures Funds from Operations (FFO) €11.7m €11.9m -1.6% Funds from Operations (FFO) per s
Slide 20: Funds from Operations (FFO)
Funds from Operations (FFO) In k€ 3M 2026 3M 2025 Change ▪1 Decline mainly due to asset disposals in 2025/2026 1 Income from rents and leases 22,611 23,043 -1.9% ▪2 Increase in income resulting from higher prepayments of ancillary costs, including those related to the 2 Income from passed on costs 3
Slide 21: EPRA NAV & NTA 2026
EPRA NAV & NTA 2026 +€4.4m €754.1m €0.0m €754.1m +€11.7m €738.1m NAV FFO Like-for-like NAV Intangible NTA 31 Dec 2025 Portfolio 31 March 2026 Assets 31 March 2026 Revaluation NAV/share NAV/share NTA/share +2.2% €9.07 €9.27 €9.27 > NAV development supported by high earnings stability and value enhanc
Slide 22: Financial situation
Financial situation Expiration of financial liabilities1 56.2% REIT- equity ratio 25,0% 2026 43.1% 20,0% LTV 15,0% 9.4x Net debt / EBITDA2 20.3% 21.4% 10,0% 4.5x EBITDA / Interest coverage 11.8% 12.9% 11.4% 5,0% 8.2% 5.7% 7.4% €637.6m 0.9% Financial liabilities 0,0% Q2 Q3 Q4 2027 2028 2029 2030 2031
Slide 23: Adjusted dividend strategy
Adjusted dividend strategy Dividend history Selected criteria for determining dividend amount Ø Payout ratio ~74% ▪ Business figures for the respective financial year ▪ Overall development of operational and financial figures ▪ FFO remains key influencing factor 96% 80% 69% 69% 68% 72% 75% 72% 76% 6
Slide 24: Dividend 2025 and full-year forecast for 2026
Dividend 2025 and full-year forecast for 2026 Dividend proposal 2025 Main influencing factors (Payout ratio based on adjusted dividend strategy: 60% – 70% of Funds from Operations (FFO)) ▪ Recent property disposals 1 FFO per share ▪ Increased cost structure 1 €0.60 − maintenance (tenant improvements
Slide 25: Sustainability / ESG
Sustainability / ESG Office property in Neu-Isenburg
Slide 26: ESG strategy
ESG strategy Strategy 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 committee Corporate Environ
Slide 27: ESG organization
ESG organization Supervisory Board Internal Sustainability Management ▪ Sustainability Committee consisting of Management Board Management Board members and the Supervisory Board ESG Officers from individual business Management Sustainability ESG Committee areas Board & ESG ▪ Advising and monitoring
Slide 28: Decarbonisation strategy | GHG-balance
Decarbonisation strategy | GHG-balance1 GHG-balance for base year 2021 Share of emission sources in the GHG-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 use supply Mater
Slide 29: Decarbonisation targets and milestones
Decarbonisation strategy | Decarbonisation targets and milestones Level Scope Target 2030 Target 2045 -50.0% to 28.2 kgCO2e/m2 Reduction of energy related emissions Energy Portfolio related1 Net Zero Greenhouse gas emissions Corporate Total balance > Net Zero targets are associated with a small amou
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: Decarbonisation strategy | 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 €0.2m – €0.6m €1.1m – €1.5m €1.5m – €2.5m €1.5m – €2.5m Modernisation of technical building systems €0.6m €1.1m Expansion of
Slide 32: Development of portfolio-wide emissions
Decarbonisation strategy | Development of portfolio-wide emissions1 ▪ Over the past three years since development of the HAMBORNER decarbonization strategy the Base year total energy-related emissions have been 56.4 substantially reduced and remain below yearly 2024 reduction pathway 60 45.1 ▪ Our d
Slide 33: Appendix
Appendix Retail property in Lengerich
Slide 34: Top-10 Properties (1/2)
Top-10 Properties (1/2) Mannheim Munich Cologne Berlin Karlsruhe Asset type Retail Office Office Office Retail Year of acquisition 2016 2013 2017 2013 2012 Purchase price €80.0m €40.2m €49.0m €33.0m €37.0m Fair Value1 €69.7m €58.2m €57.6m €56.8m €48.4m Annual rents €4.0m €3.0m €3.5m €2.7m €3.0m WALT
Slide 35: Top-10 Properties (2/2)
Top-10 Properties (2/2) Hanau Hallstadt Celle Aachen Erlangen Asset type Retail Retail Retail Office Office Year of acquisition 2017 2017 2015 2020 2011 Purchase price €37.5m €40.4m €35.2m €37.4m €27.9m Fair Value1 €40.3m €35.5m €34.5m €33.4m €32.8m Annual rents €2.3m €2.1m €2.1m €2.4m €2.2m WALT1 6
Slide 36: 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 37: Further information for investors
Further information for investors The HAMBORNER share Trading volume Current share price €4.41 (as of 31 March 2026) 289 Market capitalisation €358.7m (as of 31 March 2026) WKN/ISIN A3H233 / DE000A3H2333 176 186 166 130 139 Ticker symbol HABA 121 122 114 97 Class of shares Registered Share Exchange
Slide 38: Contact
Contact Niclas Karoff Christoph Heitmann CEO Head of Capital Markets, Financing & Sustainability E-Mail E-Mail n.karoff@hamborner.de c.heitmann@hamborner.de Disclaimer This presentation has been prepared and/or issued by HAMBORNER REIT AG (hereinafter "HAMBORNER") solely for information purposes. Th