Emirates Reit (ceic) Plc · NASDAQDUBAI:REIT
Emirates Reit (ceic) — Shareholder Meeting (June 2026)
38 slides from Emirates Reit (ceic)'s shareholder meeting presentation, Jun 26, 2026
Slide 1: Annual General Meeting 2026
26 June 2026 Annual General Meeting 2026 1
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Equitativa (Dubai) Neither Equitativa nor Emirates REIT intend or undertake Information contained in this presentation relating Limited (“Equitativa” or the “Manager”), as the manager to update or revise forward-looking statements to reflect to the R
Slide 3: Speakers
Speakers Samer Zawaideh Thierry Delvaux Timothy Collier Aleksandra Gladkaya Chairman of the AGM Senior Executive Officer Chief Financial Officer Chief Operating Officer Emirates REIT | 2026 Annual General Meeting 3
Slide 4: Agenda
Agenda 1 KEY 2 OPERATIONAL 3 FINANCIAL 4 HIGHLIGHTS HIGHLIGHTS HIGHLIGHTS STRATEGY 5 ORDINARY 6 QUESTIONS 7 VOTING AND RESOLUTIONS AND ANSWERS RESULTS Emirates REIT | 2026 Annual General Meeting 4
Slide 5: Key Highlights
KEY HIGHLIGHTS Emirates REIT | 2026 Annual General Meeting 5
Slide 6: Key Highlights
Key Highlights ▲ +19%* ▲ +20%* ▲ +3.8% Total Property Income Net Property Income Total Profit USD 80m USD 71m USD 216m ▲ +1.3 p.p. ▲ +27%** ▲ +20% Occupancy Net Asset Value Investment Properties 96% USD 896m USD 1,173m *On a like-for-like basis, excluding sold investment properties. **This takes int
Slide 7: Market Overview: Economy and Office
Market Overview Economy Office Strong GDP Growth: 5.5% in 2025. 2025 Supply: ~100,000 sqm delivered; modest increase vs. historical levels. Low Inflation: 1.1% (2025). Occupancy: ~95% (Dec 2025), up from 94% (2024) and 92% (2023). Private Sector Momentum: PMI at 54.2, signaling continued expansion.
Slide 8: Market Overview: Retail and Education
Market Overview Retail Education Polarized Performance: Prime destination malls outperform; secondary Sector Expansion: Continued growth in scale, quality, and diversity. assets show softer momentum. New Openings (2025–26): 6 schools, 16 early childhood centres, 3 Limited New Supply: Minimal 2025 de
Slide 9: Operational Highlights
OPERATIONAL HIGHLIGHTS Emirates EmiratesREIT REIT| FY | 2026 2025Annual Results General Presentation Meeting 9
Slide 10: Portfolio Overview
Portfolio Overview Operational Highlights As at 31 December 2025 PORTFOLIO VALUE PORTFOLIO VALUE COMMERCIAL RETAIL EDUCATION 1 Index Tower* 6 Index Mall* USD 1,173m 2 Loft Offices 7 Lycée Français Jean Mermoz 8 GEMS World Academy AED 4.3bn 3 Building 24 9 Durham School Dubai 4 Indigo 7** 5 European
Slide 11: Portfolio Overview: Occupancy, Income, Rates and Costs
Portfolio Overview Operational Highlights As at 31 December 2025 OCCUPANCY* +1.3 p.p.** TOTAL INCOME* (USD) +19%** ANNUALIZED RENTS CONTRIBUTIONS FY2025 100% 94% 96% 100 85% 88% 83m USD/y 80.5m 300m AED/y 80% 80 Lycée Français Jean Mermoz 67.7m 77m USD/y 57.1m 280m AED/y 60% 60 49.8m European Busine
Slide 12: Operating Expenses Management
Operating Expenses Management Operational Highlights As at 31 December 2025 NET OPERATING INCOME* (USD M) 20%** OPERATING EXPENSES (USD/OCCUPIED M2)* 11%** 80 70 71m 65 60 61 60 59m 60 54 50 48m 40 40 41m 30 20 20 10 0 0 2022 2023 2024 2025 2022 2023 2024 2025 *On a like-for-like basis, excluding so
Slide 13: Portfolio Performance
Portfolio Performance Operational Highlights As at 31 December 2025 OCCUPANCY +1.3 p.p. TOTAL INCOME (USD M) 19% FY 2024 FY 2025 28% 2024 2025 45 100% 99% 97% 96% 94% 100% 40 80% 35 72% 30 60% 25 -3.6% 20 40% 15 20% 10 21% 22% 5 94% 0% 4.6% 0 -20% -5 7 TS 24 7 S E 24 S E ER ER * TS G G TR TR G O SE
Slide 14: Divestment - Indigo 7
Divestment - Indigo 7 Operational Highlights Sold to a private purchaser on 12 June 2026 for AED 37 million. Emirates REIT acquired Indigo 7, a mixed-use retail and office building, in September 2011. The proceeds will further strengthen the balance sheet, enhancing Emirates REIT's financial flexibi
Slide 15: Financial Highlights
FINANCIAL HIGHLIGHTS Emirates REIT | 2026 Annual General Meeting 15
Slide 16: Key Financial Events - FY 2025
Key Financial Events - FY 2025 Financial Highlights ▲ 40% Share Price Dividends Paid (2) (1) USD 14.5m USD 0.691 ▲ 20% Total Assets ▲ 1.2% Islamic Financing ▲ 4 p.p. Loan to Asset Value USD 1.2bn USD 243m 20% (1) Includes USD7m for Final FY 2024 dividend paid in June 2025 and USD7.5m for Interim FY
Slide 17: Income and Earnings - FY 2025
Income and Earnings - FY 2025 Financial Highlights IN USD M, FOR THE YEAR ENDED 31 DEC 2025 31 DEC 2024 VARIANCE - Y-O-Y VARIANCE - Y-O-Y (1) RENTAL, FEE & OTHER INCOME 80.5 79.2 +1.6% +19% PROFIT / (LOSS) ON DISPOSAL OF INVESTMENT PROPERTY 0.0 54.0 -100% -100% PROPERTY OPERATING EXPENSES (9.7) (11.
Slide 18: Balance Sheet Overview - FY 2025
Balance Sheet Overview - FY 2025 Financial Highlights VARIANCE IN USD M, AS AT 31 DEC 2025 31 DEC 2024 AS AT 31 DECEMBER 2025 (USD M) Y-O-Y 42 (1) 106 (3) INVESTMENT PROPERTIES – FAIR VALUE (1) 1,172.7 977.8 +20% 30 (2) 243 CASH AND CASH EQUIVALENTS 29.9 22.2 +35% FINANCING TOTAL ASSETS (2) 1,245.0
Slide 19: Growth Highlights - FY 2025
GROWTH HIGHLIGHTS - FY 2025 Financial Highlights TOTAL INCOME* (USD) FUNDS FROM OPERATIONS** (USD) 80m 25m 68m 57m 50m 5m -6m -5m FY 2022 FY 2023 FY 2024 FY 2025 FY 2022 FY 2023 FY 2024 FY 2025 NET ASSET VALUES (NAV) (USD) NAV PER SHARE (USD PER SHARE) 896m 2.8076 707m*** 2.2144*** 500m 1.5658 373m
Slide 20: Income and Earnings - FY 2025
Income and Earnings - FY 2025 Financial Highlights NET PROPERTY INCOME* +20% FUNDS FROM OPERATIONS** NET FINANCE COST -61% 25m 50m 71m 59m 19m -5m FY 2024 FY 2025 FY 2024 FY 2025 FY 2024 FY 2025 All figures mentioned above are in USD rounded off to the nearest million, unless mentioned otherwise. *O
Slide 21: Income and Earnings - FY 2025
Income and Earnings - FY 2025 Financial Highlights OPERATING COST* VS. TOTAL INCOME* (%) NET FINANCE COST VS. TOTAL INCOME* (%) 18% 87% 16% 73% 13% 12% 59% 24% FY 2022 FY 2023 FY 2024 FY 2025 FY 2022 FY 2023 FY 2024 FY 2025 *On a like-for-like basis, excluding sold investment properties. Emirates RE
Slide 22: Deleveraging FY 2025
Deleveraging FY 2025 Financial Highlights FACILITY OUTSTANDING KEY EVENTS FY 2024 FY 2025 November 2025: refinanced the existing AED 184 million Islamic Financing Facility LOAN TO ASSET LOAN TO ASSET December 2024: Sukuk II fully redeemed and refinanced with Sukuk III 24% 20% VALUE VALUE of USD 205M
Slide 23: Dividend Distribution
Dividend Distribution Financial Highlights IN USD M, DURING THE YEAR FY 2025 PROPOSED FINAL DIVIDEND - FY 2025 (IN USD M) FY 2024 Final Dividend 7 Proposed Final Dividend Distribution 13 FY 2025 Interim Dividend 7.5 FY 2025 Interim Dividend Paid 7.5 Total Dividend Paid in FY 2025 14.5 Total Dividend
Slide 24: Strategy
Wed | eet STRATEGY
Slide 25: Step 1: Financial Re-structuring - Completed
STEP 1: FINANCIAL RE-STRUCTURING - COMPLETED Strategy Strengthened the balance sheet through significant USE OF CASH (USD, M) reduction in debt (1) (2) Debt Repayment Cash Inflow 300 291.9 USD Stronger financial foundation, positioning the REIT 250 238.1 500.2m for the next phase of its strategy. 200
Slide 26: Step 2: Increase Dividend Distributions - Ongoing
STEP 2: INCREASE DIVIDEND Strategy DISTRIBUTIONS - ONGOING DIVIDEND PAYMENTS (USD) + 2.9x (1) Two dividends a year and a regular increase in dividends. 25 (2) 20.5m Sustainable dividend framework, underpinned by the REIT's 20 strengthened financial position and cash generation. 14.7m 15 Maintained a
Slide 27: Step 3: Share Price
STEP 3: SHARE PRICE Strategy INITIAL RECOVERY: SHARE PRICE (USD/SHARE) + 3.96× Since mid June, Emirates REIT accounted for 92% of equity 0.697 trading volumes on Nasdaq Dubai 0.7 0.6 Completed the financial restructuring to establish a strong 0.494 and resilient balance sheet. 0.5 0.4 Resumed sustai
Slide 28: Step 4: Share Buy-back Programme 2026 - 2027
STEP4: SHARE BUY-BACK PROGRAMME 2026 - 2027 Strategy KEY CONTRIBUTIONS: Strong financial position with LTV reduced to below 20%* Additional tool to enhance shareholder value Continued sustainable dividend-paying capacity Preparations through discussions with the regulator and execution partners Stab
Slide 29: Ordinary Resolutions
Mg | Ene ORDINARY RESOLUTIONS
Slide 30: Ordinary Resolution 1
Ordinary Resolution 1 Shareholder resolutions To receive and approve the Annual Report and Audited Accounts For Year Ended 2025. ORDINARY RESOLUTION 1: THAT the annual report and the audited accounts of the REIT for the year ended 31 December 2025 together with the director's report and auditor's re
Slide 31: Ordinary Resolution 2
Ordinary Resolution 2 Shareholder resolutions To re-appoint the External Auditors for Financial Year 2026. ORDINARY RESOLUTION 2: THAT the re-appointment of KPMG LLP as the external auditor of the Company to hold office, until the conclusion of the next Annual General Meeting of the Company, be appr
Slide 32: Ordinary Resolution 3
Ordinary Resolution 3 Shareholder resolutions To approve the Final Dividend For Year Ended 2025. ORDINARY RESOLUTION 3: THAT the distribution of the Final Dividend of USD 0.040732 per ordinary share, an aggregate of USD 13,000,000 for the financial year ending on 31 December 2025, to be paid in cash
Slide 33: Ordinary Resolution 4
Ordinary Resolution 4 Shareholder resolutions To authorize Interim Dividend 2026 distribution. ORDINARY RESOLUTION 4: THAT the REIT Manager be authorised to arrange the payment of interim dividend(s) of the REIT to its shareholders, subject to the REIT having sufficient retained earnings to pay its
Slide 34: Ordinary Resolution 5
Ordinary Resolution 5 Shareholder resolutions To re-appoint members to the Investment Board. ORDINARY RESOLUTION 5: THAT the re-appointment of Mr. David Savy, Dr. Faisal Alayyan, and Mr. Helal Lootah, the existing members of the Investment Board of the REIT, be approved. Explanatory note - As per th
Slide 35: Ordinary Resolution 6
Ordinary Resolution 6 Shareholder resolutions To authorize Purchase of Own Shares. ORDINARY RESOLUTION 6: THAT the REIT be authorised to make one or more market purchases of its ordinary shares, provided that: i. the number of ordinary shares which may be purchased in any given period and the price
Slide 36: Questions & Answers
Jf | Exits QUESTIONS & ANSWERS
Slide 37: Voting & Results
Te | Bees VOTING & RESULTS
Slide 38: Thank You
ee Emirates zo REIT THANK YOU MANAGED BY EQUITATIVA
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