Shopper Park Plus Nyrt. · BET:SPPC
Shopper Park Plus Nyrt — Investor Presentation (April 2026)
50 slides from Shopper Park Plus Nyrt's investor presentation, April 2026
Slide 1: Investor presentation April 2026
COVER PAGE SHOPPER PARK PLUS In v e st or pre se n t at ion April 20 26
Slide 2: Important notice
IMPORTANT: The following applies to this document, which has been prepared by Shopper Park Plus Nyrt. (the "Company" and together with its consolidated subsidiaries, the "Group") solely for discussion purposes in relation to the Group; the oral presentation of the information (if any) in this docume
Slide 3: Forward-looking statements
The Information contains forward-looking statements that reflect the Company's current views about future events. The words "will", "target", "aim", "anticipate", "assume", "believe", "estimate", "expect", "intend", "may", "can", "could", "plan", "project", "should", "plan" and similar expressions a
Slide 4: Shopper Park Plus at a Glance
Introduction to Shopper Park Plus Shopper Park Plus at a Glance The Portfolio • The initial assets (CZ + HU) were acquired in June 2022 REGIONAL PRESENCE • The Slovakian assets were acquired in February 2025 Market Number • The Polish assets were recently acquired in March 2026 presence since of ass
Slide 5: Historical Milestones
Introduction to Shopper Park Plus Historical Milestones Company goes public as first ever Acquisition of 14 shopping EUR-based share issuance on the Closing of Slovakian Incorporation centers in Hungary from BSE and acquires REIT status, Closing of Polish transaction Transaction TESCO Global. raisin
Slide 6: Key Investment Highlights
Key Investment Highlights Key Investment Highlights 1 One of the leading food-anchored real estate players in CEE with a portfolio of 606 k sqm GLA1 7 with significant market share contributing to Experienced, entrepreneurial senior better economies of scale and more bargaining 2 management with mea
Slide 7: Attractive CEE Retail Market
Market Overview Attractive CEE Retail Market High-Level Descriptive Statistics of Retail Parks in the Region Czech Republic Hungary Poland Romania Slovakia Total Stock ['000 sqm] 2,036 864 4,404 1,083 838 No of retail parks [#] 311 98 745 113 148 Retail park density (sqm/1,000 inhabitants) 188 91 12
Slide 8: Strong Economic Fundamentals that support Expansion
Market Overview Strong Economic Fundamentals that support Expansion There is still a sizeable Gap in GDP per capita between Western EU and the CEE(1) ..but the economic Convergence is ongoing 2024 GDP per capita (USD, constant FX) Western EU avg. CEE avg. Euro Zone GDP per capita / 7.0 90,000 CEE GD
Slide 9: Portfolio Big Picture
Assets / Portfolio Overview Portfolio Big Picture The Portfolio • The initial assets (CZ + HU) were acquired in June 2022 • The Slovakian assets were acquired in February 2025 Top 10 Largest retail parks SPP’s regional presence (2026) K sqm • The Polish assets were recently acquired in March 2026 GL
Slide 10: Diversified Tenant Split anchored by Supermarkets
Assets / Portfolio Overview Diversified Tenant Split anchored by Supermarkets Tenant Structure by Sector (by GLA)1 Top Tenants by monthly Rental Income1 Rental Agreement Overview Retail - 1% 16.1% ✓ Majority of contracts are linked to Electronics - 1% Other - 3% MUICP or HICP Services - 1% Food & Be
Slide 11: Overview of Properties in the Portfolio
Assets / Portfolio Overview Overview of Properties in the Portfolio Hungary Poland1 Slovakia Czech Republic 2x 2x 2x 14 Occupancy 94% 8 Occupancy 96% 4 Occupancy 95% 4 Occupancy 98% assets assets assets assets 261.4k sqm WAULT 5.9 208.4k sqm WAULT 7.4 72.4k sqm WAULT 6.8 63.5k sqm WAULT 3.7 lettable
Slide 12: Acquisition of the Slovak Portfolio
Acquisition Track Record I/II Acquisition of the Slovak Portfolio Case Study: Slovakia • Acquisition: Exchange of contracts took place in December 2024 with transaction closed in February 2025 • Strong cashflow producing portfolio – initial yield at 9.5%1 coupled with highly favorable bank loan cond
Slide 13: Recent Acquisition of the Polish Portfolio
Acquisition Track Record II/II Recent Acquisition of the Polish Portfolio Case Study: Poland • Acquisition: Exchange of contracts took place in December 2025 with transaction closed in March 2026 • Strong cashflow producing portfolio – initial yield at 9.1% coupled with highly favorable bank loan co
Slide 14: Growth Strategy
Growth Strategy Unlock hidden potential of existing portfolio with active asset management 1 2 Existing Markets Expansion Markets CEE • Established a strong presence capturing approx. 7.4% of the • Highly attractive expansion markets offering market across the 4 countries Status • Tesco and Auchan a
Slide 15: Unlock hidden Potential in the existing Portfolio
Growth Strategy 1 Unlock hidden Potential in the existing Portfolio Active Asset Management for Value Maximalization of all Assets Strategy for optimal Tenant Structure ✓ Invest into the buildings, creating new tenancies and upgraded ✓ Provide all service lines in all locations for necessity shoppin
Slide 16: Management Strategy to increase Cash flow and Property Value
Growth Strategy 1 Management Strategy to increase Cash flow and Property Value A. Utilize the hidden value of unused lands across the portfolio B. Capitalize on the possibility of further downsize Average size of the plots of the portfolio is 108,300 sqm compared to the 1. The portfolio has a proven
Slide 17: Value creation potential
Growth Strategy A Value creation potential 10,000 – 20,000 sqm is identified across the HU portfolio to add value: The acquisition of the Polish portfolio doubled SPP’s total site • Average site size in the Hungarian portfolio is 80,725 sqm, compared with 65,212 area from approximately 1.6 million s
Slide 18: Value creation potential – through Downsizing I/II
Growth Strategy B Value creation potential – through Downsizing I/II Downsizing regarding TESCO portfolio Proven Execution Capability Additional Upside • Track record of successful lease-up and downsizing initiatives: 30,700 sqm • Beyond rental uplift, potential benefits include: already executed ac
Slide 19: Case Study for Downsizing – Debrecen, Hungary
Growth Strategy B Value creation potential – through Downsizing II/II Case Study for Downsizing – Debrecen, Hungary Hypermarket Downsizing Successfully Executed • 6,000 sqm downsized from the hypermarket. • Capex works completed; space repositioned and delivered. • 100% leased in Q4 2025 and operati
Slide 20: Value-accretive Expansion to new Markets
Growth Strategy 2 Value-accretive Expansion to new Markets Projects in the acquisition pipeline Sourcing Strategy Projects 1 2 3 4 Total ✓ Since SPP has one of the largest existing retail park portfolios Country PL PL CZ CEE in CEE as well as thanks to the deep market understanding, Expected Purchas
Slide 21: Advanced pipeline project overview
Growth Strategy 2 Advanced pipeline project overview • PL1 is a strategically located, two-unit retail park in Poland. 1 • The asset benefits from an established retail location in the middle of a high-density residential neighbourhood, offering excellent accessibility and a resilient, necessity-dri
Slide 22: Financial Highlights of 2025
Financials Financial Highlights of 2025 € 33.0 m € 29.3 m € 40.4 m € 24.2 m +36% YoY +33% YoY +68% YoY Rental Income Net Operating Income Profit before Tax FY24 Rental Income € 0.811 € 12.8 m € 0.92 € 10.3 m +3% YoY +24% YoY +24 YoY EPRA EPS EPRA Earnings2 Adj. EPRA EPS2 FY24 EPRA Earnings € 324 m €
Slide 23: Consolidated P&L
Financials Consolidated P&L Key Points CAGR Δ YoY 1. Gross Rental Income (GRI) increased by 36% YoY, or EUR 8.8 m, primarily driven by Prepared according to IFRS, EURmn 2023 2024 2025 25/23 (%) the consolidation of the newly acquired Slovak portfolio (EUR 7.3 m) and higher rental income from new ten
Slide 24: Strong rental growth momentum continued
Financials Strong rental growth momentum continued • Gross Rental Income (GRI) increased by 36% YoY, or EUR 8.8 m, primarily driven by the consolidation of the newly acquired Slovak portfolio (EUR 2.1 m) and higher rental income from new tenants, indexation, higher turnover rent. HU: GRI increased b
Slide 25: The Business Case for increasing FFO
Financials The Business Case for increasing FFO Leakage: (Net Service Income / Gross Rental Income) Quarterly Net Operating Income 0% 10.0 8.2 8.1 7.0 -5% -3% 5.6 6.0 6.0 4.8 5.4 4.8 5.1 5.3 -4% 4.7 4.2 -6% 5.0 4.0 -10% -8% -10% -11% -11% -15% -12% -15% -14% -13% 0.0 -15% -20% -17% Q3 Q4 Q1 Q2 Q3 Q4
Slide 26: Consolidated Balance Sheet
Financials Consolidated Balance Sheet Prepared according to IFRS, EURm 2023 2024 2025 Δ YoY Non-current assets 289 310 430 39% Key Points 1 Investment properties 289 310 430 39% 1 Gross Asset Value increased to EUR430 million Other non-current assets 0 0 0 n.a. supported by yield compression across
Slide 27: Management Financial Guidance for existing Portfolio
Guidance Management Financial Guidance for existing Portfolio The current Outlook and Guidance provided below can be subject to unforeseeable events that may have adverse relevant effects on SPP's business operations. P&L (EUR m) 2026E 2027E 2028E 2029E 2030E Gross Rental Income 49.8 68.1 71.2 73.9
Slide 28: Management Financial Guidance cont'd
Guidance Management Financial Guidance for existing Portfolio cont’d The current Outlook and Guidance provided below can be subject to unforeseeable events that may have adverse relevant effects on SPP's business operations. GRI (EURm) Leakage Breakdown (EURm) (0.5) (0.6) (0.6) (0.6) (0.6) 12.6 12.8
Slide 29: ESG Strategy
ESG Strategy Focusing on Utilizing first Using technology Sustainable lifetime CO2 mover to reduce energy infrastructure emissions advantage consumption • Focus on lifetime CO2 • Investment strategy to acquire • Pioneer of in CEE real estate • Increasing energy efficiency of emissions vs. operationa
Slide 30: Shareholder structure after the capital increase
Governance Shareholder structure after the capital increase Penta CEE Holding Adventum Penta Co-Invest • Calculation is based on the total number of outstanding shares ie: common shares and preferred shares, together amounting to 24,297,618. Dual-Class Shareholder structure with 22,797,618 mn Portfo
Slide 31: Appendix
SHOPPER PARK* Appendix 31
Slide 32: Key Operative Metrics
Assets / Portfolio Overview Key Operative Metrics Gross Lettable Area (k sqm) Key Points • With the acquisition of the legacy portfolio (HU + CZ), SPP has already managed to capture over 30% of the Hungarian market and approx. 12% across both countries. 398.3 • The recently acquired assets in Slovak
Slide 33: Selection of Properties – Hungarian Portfolio
Assets / Portfolio Overview Selection of Properties – Shopper Park Plus Hungarian Portfolio Budaörs Debrecen Extra Annual Contracted Valuation to Annual Contracted Valuation to GLA Occupancy GLA Occupancy footfall rent date footfall rent date (sqm) (%) (sqm) (%) (mn)1 (EURmn) (EURmn) (mn) 1 (EURmn)
Slide 34: Selection of Properties – Hungarian Portfolio cont'd
Assets / Portfolio Overview Selection of Properties - Shopper Park Plus Hungarian Portfolio cont’d Pécs Váci út Budapest Annual Contracted Valuation to Annual Contracted Valuation to GLA Occupancy GLA Occupancy footfall rent date footfall rent date (sqm) (%) (sqm) (%) (mn) 1 (EURmn) (EURmn) (mn) 1 (
Slide 35: Selection of Properties – Czech Portfolio
Assets / Portfolio Overview Selection of Properties – Shopper Park Plus Czech Portfolio OC Galerie Ostrava OC Fontána Karlovy Vary Annual Contracted Valuation to Annual Contracted Valuation to GLA Occupancy GLA Occupancy footfall rent date footfall rent date (sqm) (%) (sqm) (%) (mn) 1 (EURmn) (EURmn
Slide 36: Slovakia Portfolio
Assets / Portfolio Overview Shopper Park Plus Slovakia Portfolio Dunajská Streda Žilina Contracted Valuation to Contracted Valuation to Planned Planned GLA Occupancy rent date GLA Occupancy rent date Capex* Capex* (EURmn) (EURmn) (EURmn) (EURmn) KPIs 10,506 95.2% 364,500 1.1 28.9 17,441 99.7% 679,20
Slide 37: Slovakia Portfolio cont'd
Assets / Portfolio Overview Shopper Park Plus Slovakia Portfolio cont’d Nitra Trnava Contracted Valuation to Contracted Valuation to Planned Planned GLA Occupancy rent date GLA Occupancy rent date Capex* Capex* (EURmn) (EURmn) (EURmn) (EURmn) KPIs 25,794 90.9% 2,379,700 2.9 32.1 17,838 97.3% 1,204,5
Slide 38: Polish Portfolio
Assets / Portfolio Overview Shopper Park Plus Polish Portfolio Kolbaskowo Gliwice Picture Contracted Valuation to Contracted Valuation to Planned Planned GLA Occupancy rent date GLA Occupancy rent date Capex Capex (EURmn) (EURmn) (EURmn) (EURmn) KPIs 22,009 97.7% n/a 1.4 n/a 23,634 95.7% n/a 2.4 n/a
Slide 39: Proven Track Record to source attractive Deals
Growth Strategy Proven Track Record to source attractive Deals Retail Park Transactions in the Region between 2021 - 2025 4,000 € 4,000 € Median; 50 percentile 3,500 € 10 percentile 3,500 € 3,000 € 3,000 € Valuation EUR/sqm Valuation EUR/sqm 2,500 € 2,500 € 2,000 € 2,000 € 2. Adventum acquired Tesco
Slide 40: Segment Split
Financials Segment Split Segments 2025 2023 2024 2025 Δ YoY 1 Rental Income 22.2 24.2 33.0 36% Key Points Hungary 16.9 18.3 19.7 8% •1 YoY Gross Rental Income growth was Czech Republic 5.3 5.9 6.0 2% primarily driven by the Slovak Slovakia - - 7.3 n.a. acquisition but also the GRI improved Operating
Slide 41: Net Service Income, Leakage & Operating Expenses
Financials Net Service Income, Leakage* & Operating Expenses Net Service Income Bridge (€MN) Leakage* FY 2023 FY 2024 FY 2025 26.0 (28.9) -9.23% 14.3 (18.0) -11.28% 10.7 (13.0) -13.08% (2.9) (2.2) (3.7) FY 2023 FY 2024 FY 2025 Operating fees and other revenue Operating and other property Net Service
Slide 42: Consolidated Cash Flow
Financials Consolidated Cash Flow Prepared according to IFRS, EURmn 2023 2024 2025 Δ YoY Profit before Tax 12.8 24.0 40.4 68% Key Points 1 Revaluation Gains/Losses -5.9 -13.7 -25.8 88% 1• Gains from revaluation are non- Currency Conversion 0 0.1 -0.2 -321% cash relevant Change in Provisions -0.2 0.0
Slide 43: Gross LTV improved to 46% in Q4
Financials Gross LTV improved to 46% in Q4 and expected to remain broadly unchanged as a result of Auchan acquisition • In June 2022, the Issuer acquired the Initial Portfolio for around EUR 240 m, financed by a Loan Maturity Schedule after refinancing EUR 150 m loan by the consortium of OTP Bank Hu
Slide 44: EPRA Earnings Development
Financials EPRA Earnings Development Q4 2025 EPRA Earnings Bridge EPRA Earnings per Share 40.0 FY23: EUR 0.64 FY24: EUR 0.79 FY25: EUR 0.811 0.26 0.25 35.0 0.21 0.22 0.22 0.21 0.16 0.17 0.18 30.0 0.14 0.13 25.0 0.08 -25.8 20.0 36.9 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 15.0 1.0 2023 2024 2025 -1.4 3.4
Slide 45: Improving Asset Quality, low Leverage, robust CF generating Capacity
Financials Improving Asset Quality, low Leverage, robust CF generating Capacity 2023 2024 2025 Δ YoY TESCO Downsize and the GLA (Gross Lettable Area) sqm 325.0 325.0 397.2 22.2% under-rented portfolio Occupancy (%) 96.1 94.0 94.6 +0.6%pts represents a significant WAULT Years 5.3 5.5 5.7 4.0% upside
Slide 46: Case Study – Strategy applied to SPP's seed portfolio
Governance Case Study – Strategy applied to SPP´s seed portfolio (HU& CZ) Property Description • Tesco portfolio consists of 14 food anchored retail centers located in major towns in Hungary, 4 retail centers in Czechia • The retail centers were built between 2000 and 2008, and all properties are lo
Slide 47: Best-in-Class Executive Team
Governance Best-in-Class Executive Team Board of Directors Supervisory Board Kristóf Bárány - Chairman Dr. Gergely Szűcs – member Real estate investment and venture capital professional 21 years` experience in venture capital and private equity, with over 20 years of experience across CEE. managing
Slide 48: Asset Management Contract with Adventum Property Services (I/II)
Governance Overview of SPP’s Asset Management Contract with Adventum Property Services (I/II) Contract Details Management Fee ▪ Shopper Park Plus (“SPP”) and/or its subsidiaries have ▪ APS is entitled to a management fee of 1.2% p.a. of the Net Capital Value (NCV) entered into asset management agree
Slide 49: Asset Management Contract with Adventum Property Services (II/II)
Governance Overview of SPP’s Asset Management Contract with Adventum Property Services (II/II) Success Fee ▪ In addition to the management fee, APS is entitled to a success fee in case: ▪ Change of Control: (i) if the control of a shareholder or shareholders in SPP (the “Controlling Shareholder”) ce
Slide 50: Contact
CONTACT Kristóf BÁRÁNY, CFA – Founding Partner Chairman of the Board of Directors kristof.barany@shopperparkplus.hu Gellért GAÁL, CFA Investor Relations Manager gellert.gaal@shopperparkplus.hu
Shopper Park Plus Nyrt. — Investor Presentation (April 2026) on 6ix