Slide 1: Corporate presentation Q3 2022
Corporate presentation Q3 2022 October 28, 2022 MONTEA.COM
Slide 2: Track'24, ESG, Appendix
Track‘24 ESG Appendix
Slide 3: Upward adjustment of guidance 2022
Upward adjustment of guidance 2022: ➢ Expected growth in EPRA earnings from € 4.00 per share to € 4.10 per share Invested (growth of 9%, previously 7%, compared with 2021) In execution Identified ➢ Expected DPS growth from € 3.23 per share to € 3.30 per share (growth of 9%, previously 7%, compared w
Slide 4: Highlights Q3 2022
Highlights Q3 2021 ❑ Strong fundamentals in volatile macro environment: ➢ Expected average cost of debt < 2% in 2022 ➢ Expected average cost of debt < 2.5% in 2023 & 2024, despite rising interest rates ➢ Strong liquidity position: € 277 million funding available ➢ Long-term credit facilities: averag
Slide 5: EPS growth to €4.30 in 2024 reconfirmed
❑ EPS growth to € 4.30 in 2024 – reconfirmed ❑ Investment volume growth of over € 800 million in 4 years - reconfirmed ➢ 75% of promised EPS growth realised ➢ 63% of planned CAPEX has been identified ❑ Focus on in-house developments: ➢ Yielding > 6%, due to significant land bank at historical cost C
Slide 6: Main Logistic hotspots
Focus areas in Germany are logistic hotspots, known as important logistic clusters with a stable demand for logistic real estate. Focus area in The Netherlands is the southern part of the country, with the ‘Randstad’ area (Amsterdam, Rotterdam, Den Haag, Utrecht) and Tilburg-Breda as most important
Slide 7: Overview of FV Portfolio (€ M)
Overview of FV Portfolio (€ M) Belgium France The Netherlands Germany 2,134 39 € 2,025 M Standing investments From 1 B€ to 2 B€ in 3 years 42 902 € 68 M Developments 646 1,159 € 37 M 521 244 From 100 M€ to 423 210 1 B€ in 13 years Solar panels 326 201 174 213 14 73 121 134 135 176 98 109 139 642 801
Slide 8: Montea sites by country
Lille Antwerp Hamburg Berlin Ghent Paris Berlin Brussels Liège Cologne Amsterdam Düsseldorf Charleroi Rotterdam Lyon Frankfurt Tilburg Marseille Main Logistic hotspots Munich Montea sites Current yield % of total Country # sites SQM (‘000) Fair Value Yearly Rent Occupancy @ 100% occupation portfolio
Slide 9: Strong portfolio KPI's
Strong portfolio KPI’s Continuous arbitration of portfolio Portfolio roll forward (in billion €) (e.g. € 100 M disposals in the last 7 years) Leading to exceptional portfolio KPI’s 7.5y 99.2% Residual lease Occupancy rate term 4.8% Current yield (at 100% occupation) 9
Slide 10: Occupancy rate & rental activity
Occupancy rate & rental activity Maturity profile Occupancy rate (%) Portfolio Management (in % of current rent) 2022 9% 99,7% 99,2% of the current rent had a 99,3% break or contract end in 99,4% 67,7% 2022, representing 99,1% € 6.7 M 87% has already been extended or rented to 9,7% 9,9% 10,8% new te
Slide 11: High qualitative client portfolio
High qualitative client portfolio Logistics type Type of Sector Low risk profile 6% 8% 8% 43% 45% 53% 18% 2% 7% 10% Food & Beverage Retail Construction/Industry Brand Logistics (end user) Network Logistics (distribution) Contract Logistics (single client) Automotive Pharma & Medical Other Third Part
Slide 12: High qualitative building portfolio
High qualitative building portfolio Portfolio age Multimodality 27% 51% 22% 49% 40% 11% < 5 years 6 - 10 years 11 - 20 years > 20 years Yes No 67% of the buildings is less than ten Multi-modal sites years old 12
Slide 13: High qualitative client portfolio
High qualitative client portfolio ◆ Top 10 of clients represent 30% of the rental income of 2022 ◆ Top 20 of clients represent 47% of the rental income of 2022 ◆ 76% of sites are single tenant 4.9% 3.6% 3.1% 3.0% 3.0% 2.8% 2.7% 2.4% 2.3% 2.2% 13
Slide 14: Risk profile of Rental income
Risk profile of Rental income 99% of lease contracts capture indexation Current Rent Floored @ 0%, No Cap 45 M€ 46 % No Floor, No Cap 9 M€ 9% of lease contracts are floored at 0% 90% no negative indexation possible Floored @ 0% + Cap 43 M€ 44 % Not Indexed 1 M€ 1% TOTAL RENT 98 M€ of lease contracts
Slide 15: Etten-Leur (NL)
Etten-Leur (NL) Raben Netherlands B.V. has signed a lease for a fixed period of 8 years for the develoment of a new distribution centre of ca. 26,500 m² on the Vosdonk industrial estate in Etten-Leur. Montea started the development in Q3 2021 and has delivered the distrubution centre at the beginnin
Slide 16: Blue Gate, Antwerp (BE)
1 Antwerp Port of Zeebrugge (Port + Airport) 1 Antwerp Port of Ghent Ghent Brussels Blue Gate, Antwerp (BE) Liège At the end of Q3 2022, Montea has delivered an 8,438 m² sustainable delivery station at Blue Gate Antwerp. This Charleroi development is fully rented out to Amazon Logistics for a fixed
Slide 17: Avignon - Acquisition (FR)
Lille 1 Paris Lyon Avignon- Acquisition (FR) Montea purchased at the beginning of Q3 2022 a warehouse at 1 the entrance of Avignon. Marseille It is a 26,500 m² plot of land with a ca. 12,700 m² building. The building is currently leased to DPL France Rozenbal. 17
Slide 18: Zwijndrecht - Acquisition (NL)
1 Zwijndrecht- Acquisition (NL) 1 Montea purchased in the beginning of Q3 2022 a strategically located site in Zwijndrecht. It is a plot of land of ca. 64,000 m² with a warehouse production facility of ca. 25,700 m² with outdoor storage. The building is currently leased to Jiffy Products Internation
Slide 19: Strong balance sheet
Strong balance sheet Debt ratio (%) 56,4% 55,8% 52,8% 52,1% 51,9% 51,3% 51,6% 51,3% 50,1% 49,9% 47,6% 44,1% 39,4% 38,0% 38,6% 44.1% 30/09/2022 19
Slide 20: Financial KPI's
Financial KPI’s EPRA Cost Ratio & EPRA NIY NET DEBT / EBITDA (adjusted) & ICR 8 10 7 9 14,00% 13,3% 6,7 12,3% 6,2 8 11,7% 6 5,7 7 5,5 5 6 4,5 9,3% 4 5 8,8% 8,8% 9,5 9,00% 8,3% 8,4 3 4 7,3 6,5 6,7 6,6% 6,5% 3 6,4% 2 6,0% 2 5,5% 4,9% 4,7%2 1 1 4,00% 0 0 2016 2017 2018 2019 2020 2021 2022 2018 2019 202
Slide 21: Green Bonds Issuance - €380 M
Green Bonds Issuance - € 380 M ✓ Montea raises € 380 M through the issuance of Green Bonds via the US Private Placement market with seven internationally renowned investors ✓ 4 tranches: ▪ € 175 million – 8-year term (withdrawal on 17/08/2022 - maturing on 17/08/2030) - coupon: 3,18% ▪ € 20 million
Slide 22: Well diversified long term financing
Well diversified long term financing (impact of € 380 M Green Bonds included) Financing sources Maturity (y) Maturity creditlines & bonds 250 57% 200 8,0 150 6,7 100 < 1% 50 43% 0 MATURITY MATURITY '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32 '33 '34 '35 '36 BANKS BONDS LEASING FINANCING HEDGING Cred
Slide 23: Evolution of EPRA result per share & Dividend per share
Evolution of EPRA result per share & Dividend per share (€) + 14% EPS DPS YTD Q3 EPS YTD Q3 EPS excl. One-off (*) As of 2016: EPRA result per share instead of Net Current Result In 2021 Montea received a one-off payment whereupon Montea waived its pre-emptive right to the possible sale of a plot of
Slide 24: Highlights Q3 2022 / Track'24
Highlights Q3 2022 ESG Appendix
Slide 25: EPS growth to €4.30 in 2024
EPS growth to € 4.30 in 2024 Investment volume growth of over € 800 million in 4 years ➢ 75% of promised EPS growth realised ➢ 63% of planned CAPEX has been identified Invested 2024 In execution € 4,30 Identified 75% 75% 2022 € 4,10 2021 Invested In execution € 3,75 Identified 2020 € 3,50 25
Slide 26: EPS, DPS and investment volume targets
❑ EPS growth to € 4.30 in 2024 2020 2024 ( > 20% increase compared to 2020) € 3.50 EPRA earnings/share € 4.30 ❑ DPS growth to € 3.45 in 2024 ( > 20% increase compared to 2020) € 2.83 Dividend/share € 3.45 ❑ Investment volume growth of over € 800 million in 4 years ✓ Since the beginning of 2021, an i
Slide 27: Developments & CAPEX Track'24
CAPEX TRACK'24 * Land acquisition Country Location Landbank Land (sqm) GLA (sqm) Delivery Tenant Lease duration occured before 2021 2021-2024 BE Antwerp 13.000 m² 4.300 m² Q1 '21 DHL Express 15 y 11 M€ NL Schiphol 4.400 m² 4.400 m² Q1 '21 Amazon Logistics 10 y 1 M€ BE Willebroek 7.500 m² 2.000 m² Q4
Slide 28: Acquired landbank
Acquired landbank TOTAL LANDBANK 2.0 mio m² Market value Market value/m² ACQUIRED LANDBANK 1.5 mio m² of of € 285 mio 194€/m² UNDER CONTROL 0.5 mio m² 67% yielding ✓ 100% situated in logistic & industrial zonings @ 4% ✓ Future development potential ± 1.0 mio m² ✓ Extension potential of current portf
Slide 29: Tongeren (BE)
2 Antwerp Port of Zeebrugge (Port + Airport) Antwerp Port of Ghent Ghent 1 Brussels Liège Tongeren (BE) Charleroi Montea acquired in Q4 2021 two sites of ca. 180,000 m² in Tongeren. On the first site, a building of ca. 20,000 m² was already developed by Group Cordeel in 2021. The building has been l
Slide 30: Solar PV plants delivered and to be delivered
Belgium – The Netherlands – France During 2022, 4 new PV plants were started up. 2 in Delivered Belgium, 1 in the Netherlands and the first PV installation in France. With those new installations, the PV plants in Belgium produce about 31,400 MWh, which is the equivalent of the energy consumption of
Slide 31: Evolution of EPRA result per share & Dividend per share
Evolution of EPRA result per share & Dividend per share (€) 5 4,30 4,5 4,10 3,75 4 3,50 3,28 3,5 2,95 3,45 3,30 3 2,58 3,03 2,47 2,83 2,5 2,54 2,11 2,17 2,26 + 9% 2 1,5 1 0,5 0 2016 (*) 2017 (*) 2018 (*) 2019 (*) 2020 (*) 2021 (*) 2022 E 2024 E (*) As of 2016: EPRA result per share instead of Net Cu
Slide 32: ESG
+ Fe = Highlights Q3 2022 Track’24 ESG Appendix
Slide 33: Montea DNA into vision and sustainability strategy
Converting the Montea DNA into a clear vision and sustainability strategy for medium (2030) and long (2050) term: 33
Slide 34: Increased EPRA sBPR and GRESB scores
➢ Increased EPRA sBPR score: GOLD award (compared to silver in previous year) ➢ Increased GRESB score of 77% (+8% compared to score attained in previous year) Rating Latest scores Evolution 2022 GOLD Award BRONZE SILVER GOLD Excepti ona l a dhea rence to s BPR. Scori ng a bove 85% 2020 2021 2022 202
Slide 35: Sustainability initiatives and employees
Sustainability team among Specific awareness and action employees looking for initiatives created around World Car Free to reduce impact at the day and World Mental Health day workplace Delivery of Amazon Logistics on Blue Improvement programs ongoing Gate Antwerp with a maximum energy (e.g. PV inst
Slide 36: Energy efficient and low CO2 development
ENERGY EFFICIENT AND LOW CO2 10. Monitoring of all major energy consumers ensures more efficient use of energy and awareness. 11. High-yield solar panels combined with energy storage ensure optimal use of renewable energy. 12. High-tech heat pumps generate renewable energy. In this way, our sites ar
Slide 37: Employee wellbeing HC scan
High Great Together with a renowned external partner committed to wellbeing motivation High leadership in the workplace area, Montea launched a HC scan amongst its engage- ment employees in 2022, with a high participation rate (ca. 95%) High indepen- dence High social Great energy support between co
Slide 38: Environmental, Social & Governance (ESG)
Environmental, Social & Governance (ESG) De Pauw family 100% ( Montea Management NV = sole director strengthens 1 share ( Montea as strategic Montea NV/SA* advisor (Naamloze vennootschap/ Société anonyme) mao Dirk De Pauw Jo De Wolf Peter Snoeck
Slide 39: Read the full Sustainability Report
Read the ful = 2921 Sustainability | Report AY ante
Slide 40: Appendix
Highlights Q3 2022 Track’24 ESG ch Appendix
Slide 41: Montea NV public regulated real estate company
Montea NV is a public regulated real estate company (“RREC”) under Belgian law (SIR – SIIC), specializing in the development and the management of logistics property in Belgium, France, The Netherlands and Germany (“Montea” or the “Company”). The company is a leading player in this market. Montea li
Slide 42: Long-term commitment to quality and sustainable logistics real estate
When Montea invests in logistics real estate, we are fully intent on keeping it in our portfolio for a long time. That is why we are strongly committed to high quality, sustainable finish and materials. This applies to investment in existing buildings as well as to the way in which we develop logist
Slide 43: Space to grow through flexible and innovative real estate
✓ Montea literally offers its clients space to grow, through flexible and innovative real estate solutions. That is why Montea maintains an extensive network of estate agents, landowners, property developers and contractors. ✓ Montea converts its market knowledge into high-quality real estate invest
Slide 44: Montea key concepts
Montea acts in accordance with the following key concepts: ✓ WAREHOUSING ✓ PURE PLAYER ▪ Land value has a higher share in the total value ▪ Ambition to be best in class through than in other asset classes specialisation (Logistics, Real estate & Finance) ▪ Life cycle of warehousing ▪ Ambition to be
Slide 45: Shareholder base
Shareholder base (based on transparency notifications) ✓ Montea is the result of Pierre De Pauw’s 63% lifework, who has been one of the Belgian pioneers in logistic real estate since the late 1960s 4% ✓ The IPO of Montea in 2006 was the start 6% 5% 12% of a strong growth path 4% 6% Family De Pauw Be
Slide 46: Shareholder IRR since IPO
A shareholder, who ▪ invested at the IPO (2006) and ▪ always participated in the optional dividend realizes an IRR of 10.6% per 17/10/2022 (over 16 years). 46
Slide 47: Montea group structure
Montea Management NV Montea NV Europand Eindhoven B.V. Montea Nederland N.V. SCI MM1 Montea Tiel N.V. Montea SA (Branch Office) SCI APJ SFG B.V. SCI Socrate Montea ‘s Heerenberg N.V. Blue Gate Antwerp Invest NV Montea Beuningen N.V. SCI Sévigné Montea Services BV Montea Oss N.V. SCI Saxo Gula NV Mon
Slide 48: Forward-looking statements
This presentation contains forward-looking statements. Such forward-looking statements involve unknown risks, uncertainties and other factors which may cause the actual results, financial conditions, performance or achievements of the company to be materially different from any future results, perfo