Investis Holding Sa · SIX:IREN
Investis Holding Sa — H1 2026 Earnings Presentation
31 slides from Investis Holding Sa's earnings presentation, Aug 27, 2026
Slide 1: Presentation for investors, analysts and media
Presentation for investors, analysts and media Zurich, 27 August, 2026
Slide 2: Disclaimer
Disclaimer This communication contains specific forward-looking statements, beliefs or opinions, including statements with respect to objectives, which are based on current beliefs, expectations and projections about future events and assumptions made by the management of Investis Holding SA ("Inves
Slide 3: Agenda
Agenda Highlights of H1 2026 Market trends Financial overview H1 2026 Outlook Appendix Q&A HALF-YEAR 2026 RESULTS – IR PRESENTATION – 27 AUGUST 2026 3
Slide 4: Highlights H1 2026 – strategic focus on the Lake Geneva region continues to deliver
Highlights H1 2026 – strategic focus on the Lake Geneva region continues to deliver Annualised total return of the share including dividends since IPO amounted to 12.9% as per 30 June 2026 ▪ Strong H1 2026 performance, with rental income up 6.8% and EBITDA before revaluations and disposals up 9.3% ▪
Slide 5: Agenda
Agenda Highlights of H1 2026 Market trends Financial overview H1 2026 Outlook Appendix Q&A HALF-YEAR 2026 RESULTS – IR PRESENTATION – 27 AUGUST 2026 5
Slide 6: Real Estate Market – developments in H1 2026
Real Estate Market in the Lake Geneva region – developments in H1 2026 ▪ Structural housing shortage continues across the Lake Geneva region, driven by strong immigration, limited buildable land and therefore persistently low vacancy rates ▪ Residential demand remains resilient, with declining UN-re
Slide 7: Location choice and awareness of demographic trends remain important for investors
Real Estate Market in the Lake Geneva region Location choice and awareness of demographic trends remain important for investors Migration/ Demography Construction activity Regulations Capital Markets ▪ Cantons of Vaud and Geneva expect to see ▪ Lowest homeownership rate ▪ Corporate tax rates in the
Slide 8: Housing under construction in the Canton of Geneva
Real Estate Market in the Lake Geneva region Housing under construction in the Canton of Geneva ▪ Construction activity remains high, while developable land is becoming increasingly scarce Source: CBRE, OCSTAT 2026 HALF-YEAR 2026 RESULTS – IR PRESENTATION – 27 AUGUST 2026 8
Slide 9: Regional evolution of building permits
Real Estate Market in the Lake Geneva region Regional evolution of building permits ▪ Leading to sharp decline in building permits in the Lake Geneva region Source: Wuest Partner, CBRE Q2 2026 HALF-YEAR 2026 RESULTS – IR PRESENTATION – 27 AUGUST 2026 9
Slide 10: Residential vacancy rates continue to decline in 2026
Real Estate Market in the Lake Geneva region Residential vacancy rates continue to decline in 2026 ▪ The housing shortage in the Lake Geneva region continues to intensify Source: CBRE, OCSTAT, StatVD, 2026 HALF-YEAR 2026 RESULTS – IR PRESENTATION – 27 AUGUST 2026 10
Slide 11: Residential rent index in Switzerland – with or without change of tenant
Real Estate Market in the Lake Geneva region Residential rent index in Switzerland – with or without change of tenant Wider spread between rising offered rents and stable “in-place” rents ▪ A “locked-in” effect whereby tenants prefer to retain their existing lease even if their apartment no longer m
Slide 12: Swiss residential real estate is attractive, while yield compression is stronger outside prime locations
Real Estate Market in Switzerland Swiss residential real estate is attractive, while yield compression is stronger outside prime locations... Residential prime yield in Geneva and Zurich ▪ Prime Geneva residential remains attractive, with a ~200 bps risk premium. Strong investor demand and limited c
Slide 13: ... driving investment activity upward in Geneva
Real Estate Market in the Lake Geneva region ... driving investment activity upward in Geneva Real estate investment activity in the Canton of Geneva Source: CBRE Research, OCSTAT, 2026 ▪ Investment activity in GE accelerated in 2026 ▪ Large commercial transactions are returning, boosting investment
Slide 14: Fundraising activity remains at a record high in H1 2026
Real Estate Market in the Lake Geneva region Fundraising activity remains at a record high in H1 2026 Fundraising / Capital increases (announced) – Swiss real estate investment vehicles RE listed funds RE non-listed funds Investment fundations Other Q1 Q2 Q3 Q4 Avg. Size (Rhs) 10,000 140 9,000 130 8
Slide 15: Strategy: Buy and hold – evolution of fair value and gross rental income since IPO
Strategy: Buy and hold – evolution of fair value and gross rental income since IPO Rue du Nant 30 – Geneva – Acquisition in December 1998 CAGR = +2.7% +33% +106% HALF-YEAR 2026 RESULTS – IR PRESENTATION – 27 AUGUST 2026 15
Slide 16: Investis is strongly positioned in the Swiss real estate market
Investis is strongly positioned in the Swiss real estate market, particularly in the Lake Geneva region ▪ Operates in structurally supply-constrained markets ▪ Benefits from persistently low vacancy rates ▪ Urban centres continue to grow, while rural demand remains subdued ▪ Focuses on the mid-marke
Slide 17: Agenda
Agenda Highlights of H1 2026 Market trends Financial overview H1 2026 Outlook Appendix Q&A HALF-YEAR 2026 RESULTS – IR PRESENTATION – 27 AUGUST 2026 17
Slide 18: H1 2026: Strong Performance
H1 2026: Strong Performance Enhanced operational performance and continued disciplined cost management FY 2024 (CHFm) HY 2026 Δ in % HY 2025 FY 2025 (excl. RES)1) ▪ Like-for-like rental income +0.6% Revenue 41.5 6.8 38.8 79.8 64.4 − for residential +1.1% EBITDA ▪ Gross rental income CHF 85.9m 26.7 9
Slide 19: Revenue and like-for-like rental growth
Revenue and like-for-like rental growth CAGR of 1.7% over five years 79.8 41.0 ▪ Like-for-like rental growth +0.6% (2025: +0.9%); 64.4 – in residential +1.1% 57.8 36.2 27.2 53.1 ▪ Gross rental income increased to CHF 85.9m 26.9 3.0 ▪ Vacancy rate at 2.0% 2.0 38.8 1.5 41.5 0.9 30.6 26.2 0.6 28.2 (CHF
Slide 20: Characteristics of the portfolio: 207 buildings – 78% residential with 3,070 apartments
Characteristics of the portfolio: 207 buildings – 78% residential with 3,070 apartments by category by canton by apartment type based on portfolio value based on portfolio value based on the number of apartments: 1) % 16% 22% 0% 28% 0% 8% 66% 26% esiden al ommercial other 1-room 2-room -room other N
Slide 21: Significant cumulative revaluation gains since the IPO in June 2016
Significant cumulative revaluation gains since the IPO in June 2016 (CHFm) 800 ▪ All three components contributed to this sustained growth 00 − Higher cash flows 600 − Lower discount rates 00 − Value-accretive real estate acquisitions ▪ Average real discount rate 2.86% – 00 (nominal +1.00%) 00 ▪ Mar
Slide 22: Property portfolio evolution – unchanged composition in H1 2026
Property portfolio evolution – unchanged composition in H1 2026 Portfolio more than doubled the size since 2016 while LTV declined significantly (CHFm) 2022: - Portfolio investments CHF 19m 2 - Portfolio disposals CHF 377m -22 10 2023: - Portfolio investments CHF 65m 860 - Portfolio disposals CHF 7m
Slide 23: Low vacancy rates – considerable rent potential
Low vacancy rates – considerable rent potential Signifiant rent potential of 15% alongside continued positive like-for-like rental growth Rent potential residential properties based on CBRE appraisal Low vacancy rate of 2 0% + % (CHFm) +1.0% Residential properties 1.2% Commercial properties 4.0% 6.3
Slide 24: Strong balance sheet remains a key strength
Strong balance sheet remains a key strength Equity ratio increased to a strong 63.9%, following a CHF 38.3m dividend distribution Balance Sheet (CHFm) 30.06.2026 Δ in % 31.12.2025 30.06.2025 Cash and cash equivalents 2 +86.1 1 5 ▪ Weighted average interest rate for the H1 was 0.92% (H1 2025: 1.10%)
Slide 25: Evolution of the debt structure – all unsecured – no pledged properties
Evolution of the debt structure – all unsecured – no pledged properties LTV remains low – among the lowest in the industry Breakdown of financial liabilities 32% 32% PY CY 62% 52% 6% 16% n Bonds n Private placements n Bank loans ▪ Credit facilities of CHF 500m – 65% utilised HALF-YEAR 2026 RESULTS –
Slide 26: Agenda
Agenda Highlights of H1 2026 Market trends Financial overview H1 2026 Outlook Appendix Q&A HALF-YEAR 2026 RESULTS – IR PRESENTATION – 27 AUGUST 2026 26
Slide 27: Outlook 2026
Outlook 2026 Investis expects continued growth in rental income ... ▪ ... driven by the full-year contribution from acquisitions completed in 2025 and continued rental upside ▪ ... supported by strong demand for affordable, high-quality housing in the Lake Geneva region ▪ ... underpinned by favourab
Slide 28: Why invest in Investis?
Why invest in INVESTIS? ▪ High-quality, well-maintained portfolio delivering sustainable shareholder value ▪ Leading listed residential property owner in the supply-constrained Lake Geneva region − strong demand, attractive returns and persistently low vacancy − significant rental upside potential,
Slide 29: Agenda
Agenda Highlights of H1 2026 Market trends Financial overview H1 2026 Outlook Appendix Q&A HALF-YEAR 2026 RESULTS – IR PRESENTATION – 27 AUGUST 2026 29
Slide 30: Investis' strategy is built around the following four key priorities
IN S IS’ strategy is built around the following four key priorities 1. Disciplined portfolio growth Selective acquisitions focused on quality and value creation, targeting CHF 100m in rental income while maintaining a strong balance sheet and low LTV. 2. Continuous operational improvement Leverage d
Slide 31: Thank you for your attention
HANK OU FO OU A N ION 31