Great Portland Estates Plc · LSE:GPE

Great Portland Estates — Shareholder Meeting (2023)

16 slides from Great Portland Estates's shareholder meeting presentation, Jul 31, 2023

  1. Slide 1: Annual General Meeting 2023

    GPE, — | | Greater together + + + + + + + + + > _ _— + + + an + + + + + + + +

  2. Slide 2: Voting

  3. Slide 3: Introduction from the Chair

    Introduction from the Chair

  4. Slide 4: Chief Executive's Presentation

    . Chief Executive’s Presentation

  5. Slide 5: Solid Results; Balance Sheet Strength March '23

    Solid Results; Balance Sheet Strength 31 March ‘23 Property valuation! Portfolio ERV movement! NTA per share EPRA LTV Liquidity 1. Like-for-like, including share of joint ventures 12 months H2 (6.6%) (3.4%) +2.1% +1.4% (9.3%) (4.7%) As at 31 Mar ‘23 19.8% £457m H1 (3.4%) +0.7% (4.5%) As at 31 Mar ‘2

  6. Slide 6: Financial Highlights

    Financial Highlights Balance Sheet March 23 March 22 Change Portfolio value! £2,380.0m £2,647.4m (6.6%) EPRA NTA & IFRS NAV per share 757p 835p (9.3%) EPRA NDV per share 790p 838p (5.7%) EPRA loan-to-property value 19.8% 20.5% (0.7pps) Income Statement March 23 March 22 Change EPRA Earnings £24.0m £

  7. Slide 7: Operating Well

    Operating Well Strength and opportunity 1. Record Leasing; Low Vacancy; More to Come 60 | £m mmm Lettings Vacancy 13.2% Vacancy 19 ‘20 "21 "22 ‘23 2. Significant & Growing Opportunity Total capex programme; 1.4m sq ft, 49% of portfolio*; 63% of net assets HQ Repositioning 7 schemes, 1.1m sq ft, all

  8. Slide 8: Strategy Reminder

    Strategy Reminder GPE. Evolved to meet customers’ changing needs; all about execution Our Strategic Givens Exceptional Net Promoter Score! 100% central London GPE Office Industry Benchmark Reposition properties 60 6 44.0 Customer First 40 175 253 Sustainability: an imperative 20 Pe a | 3.8 0 = = = L

  9. Slide 9: Acquisitions

    Acquisitions Buying again Stock Traded Near GPE ‘Fair Value” 6 months to Nov ’22 6 months to May ’23 c.£750m traded; 7 deals c.£524m traded; 7 deals Mispriced % >25% 74% Near Fair a5 Valve <10% ca 6 months to Nov ’22 6/10 St Andrew St, EC4 £30m FH off market; 46k sq ft; perfect for Flex Farringdon E

  10. Slide 10: Significant Capex Programme

    Significant Capex Programme Timed to deliver into economic recovery and supply shortage 35 Portman Sq, Kingsland & 7/15 Gresse St, 33 Alfred Place, 135/141 Wardour St, 6/10 St Andrew St, Wi Carrington Hse, W1 W1 (Flex) WCI(Flex) ‘WI (Flex) ECA (Flex) . ° ; S 4 Refurbs J 8 All Fully Managed , 0.3m sq

  11. Slide 11: Significant HQ Development Programme

    Significant HQ Development Programme GPE. All Prime; exemplary sustainability; capital value upside; good timing Exit yield: 4.50% 4.25% Profit on Cost -2.1% 44% IE Profit to come! £145m — £429m 4 " Development yield 5.4% 5.4% | 6 Ungeared IRR? All four; best in class; 0.9m sq ft (+118%); £60m ERV (

  12. Slide 12: Opportunity

    Opportunity GPE. Clear strategic priorities Market * Central London focus, deep knowledge * Near term; stable but big bifurcations best v rest * GPE evolved to meet,Customers’ changi eeds * Medium term; positive * Two complement iness streams ° ployment in supportive potential : id for HQ Pri ; heal

  13. Slide 13: Questions and Answers

    Questions and Answers

  14. Slide 14: Conclusion

  15. Slide 15: Annual General Meeting 2023: Ordinary Resolutions

    Annual General Meeting 2023 This is a title Ordinary Resolutions 1 To receive the audited financial statements together with the Directors’ and auditor’s reports for the year ended 31 March 2023 2 To declare a final dividend for the year ended 31 March 2023 3 To approve the Directors’ remuneration r

  16. Slide 16: Slide 16

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