Gav-yam Lands Corp. Ltd · TASE:GVYM
Gav-yam Lands — FY2025 Earnings Presentation
41 slides from Gav-yam Lands's earnings presentation, Dec 31, 2025
Slide 1: Presentation for the Capital Market 2025 Summary
Presentation for the Capital Market 2025 Summary
Slide 2: Data in summary 1-12.2025
Data in summary 1-12.2025 Anual summary summarydata NOI NOI for shareholders FFO for shareholders per management approach* data 759 606 ILS 432 million Company Company data ILS million ILS million data NOI normalized Q4 NOI for shareholders normalized Q4 FFO for shareholders per management approach
Slide 3: Data in summary 1-12.2025
Data in summary 1-12.2025 Anual summary summarydata income-generating areas liquid assets credit facility data 1.3 million m2 772 515 Company Company data ILS million ILS million data weighted avg. effective non-pledged properties Bond rating Projects Projects under interest, index-linked 2.3 100 il
Slide 4: Data in summary 1-12.2025
Data in summary 1-12.2025 Anual summary summarydata net financial debt under development areas forecast of annual NOI from projects under development data 9,158 288 thousand m2 293 Company Company data ILS million ILS million data value of investment real estate value of income-generating properties
Slide 5: Data in summary – NOI (ILS millions)
Data in summary – NOI (ILS millions) Anual summary summarydata data 1-12.2025 1-12.2024 % change 825-845 2026 759 692 10% 759 Company Company data NOI forecast 692 2025 data 606 553 10% 660-680 NOI FOR SHAREHOLDERS 2024 606 2026 Projects Projects under 553 forecast underdevelopment 10-12.2025 10-12.
Slide 6: Data in summary – NOI normalized Q4
Data in summary – NOI normalized Q4* (ILS millions) Anual summary summarydata data 1-12.2025 1-12.2024 % change 860-880 2026 796 712 12% 796 Company Company data NOI forecast 2025 690-710 data NOI FOR 632 568 11% 712 SHAREHOLDERS 632 2026 Projects Projects under 2024 forecast 2025 underdevelopment 5
Slide 7: Data in summary – FFO for shareholders (ILS millions)
Data in summary – FFO for shareholders (ILS millions) Anual summary summarydata data 1-12.2025 1-12.2024 % change 432 407 6% 450-460 FFO Per management approach Company Company data FFO Per Israel 295 258 14% 432 Securities Authority 2026 data approach forecast 407 Projects Projects under FFO per 20
Slide 8: NOI and FFO forecasts for 2026-2028
NOI and FFO forecasts for 2026-2028* (ILS millions) Anual summary NOI for shareholders FFO for shareholders per summarydata normalized Q4 management approach normalized Q4 data 52% 940-960 840-860 Company Company data 50% 690-710 data 640-660 632 580-600 Projects Projects under 465-485 440 underdeve
Slide 9: Completed projects 2025
Completed projects 2025 Anual summary summarydata data ted Comple Company Company data e After th date report Projectsdata Projects under underdevelopment Gav-Yam Hebrew Campus Gav-Yam Negev #5 Gav-Yam Rehovot #5 development #1 and #2 Total area occupancy rate Aboveground area occupancy rate Total a
Slide 10: Company data
Company data Simulation for illustrative purposes only
Slide 11: Properties across cities nationwide
Haifa Anual summary Afula summarydata Tirat Carmel 19 Caesarea data Herzliya Raanana Company Company data Tel Aviv data high-tech, h-tech, logi logistics and industry parks Holon 97 16 Projects Projects under Beer Yaakov Lod underdevelopment Rehovot development Ness Ziona % Yavne Modiin Jerusalem oc
Slide 12: Distribution of investment real estate value
Distribution 31 December 2025 of investment real estate value Anual summary summarydata Income-generating real estate 13,200 data ILS S million Real estate under construction Investment real estate value 2,949 Company Company data ILS million 16,879 data ILS million 17% Projects Projects under 78% u
Slide 13: Income-generating property value
Income-generating 31 December 2025 property value Anual summary summarydata 6.7% rate of return 1.3 million m2 data 78% Company Company data high-tech parks and offices 18% data logis logistics tic and industrial Projects Projects under underdevelopment ILS development 13,200 milion Residential Resi
Slide 14: Home to the world's largest companies
Anual summary summarydata data Company data Company data Projects Projects under underdevelopment development Residential Residential Financial Financial data data 14 Home to the world’s largest companies
Slide 15: Sustainability
Anual summary summarydata data Company data Company data Projects Projects under underdevelopment development Residential Residential Financial Financial data data 15 centers Energy PV installations recycling Water construction Green EV charging Natural gas connection Renewable energy Sustainability
Slide 16: Renewable energy
Renewable energy Anual summary summarydata Company Company data data data Energy centers Photovoltaic facilities Matam Park 59 systems Projects Projects under 14,200 cooling tons Total capacity 11.7 MW Gav-Yam Negev Park 3,000 cooling tons underdevelopment Residential Residential Financial Financial
Slide 17: LEED rating system projects
LEED rating system projects Anual summary summarydata Company Company data Projectsdata Projects underdata Gav-Yam Hebrew Campus Matam East Towers Gav-Yam Center Herzliya Pituach TOHA underdevelopment Residential Residential development Gav-Yam Rehovot #5 Gav-Yam O2 Herzliya Gav-Yam Negev #4 Gav-Yam
Slide 18: Real increase in rent 2025
Real increase in rent 2025 Anual summary In 2025 the company executed 192 lease agreements, with respect to an summarydata aboveground area of 204,000 m2 generating ILS 168 million per annum. data Renewal contracts 6% Company Company data Options exercised 5% data real increase real increase Project
Slide 19: Projects under development
Projects under development Simulation for illustrative purposes only
Slide 20: Projects under development
Projects under development Approximately 290,000 m2 consolidated Anual Anual summary summarydata data te Comple he after t e dat report Company Company data data Gav-Yam Park Rehovot #5 Gav-Yam O2 Herzliya TOHA 2 Matam East Towers #3 Projects Projects under 28,000 m2 100% marketed 59,000 m2 100% mar
Slide 21: Projects under development consolidated
Projects under development consolidated Anual summary Annual Rate of Revenue for Construction Costs balance representative marketed marketed summarydata Project name Aboveground Parking Total Holding rate Total costs as of 31 Dec Completion date leasing revenue aboveground aboveground (including lan
Slide 22: Projects under development expanded standalone
Projects under development expanded standalone** Anual summary Annual Rate of Revenue for Construction Costs balance representative marketed marketed summarydata Project name Aboveground Parking Total costs as of 31 Dec Completion date leasing revenue aboveground aboveground (including land) 2025 IL
Slide 23: Planned projects
Planned projects Approximately 190,000 m2 consolidated. Anual summary summarydata Company Company data data data Gav-Yam Negev #6 Matam Park – parking structurev Projects Projects under 17,000 m2 aboveground Stage A 11,000 m2 underground parking underdevelopment Residential Residential Financial Fin
Slide 24: Residential
RESIDENTIAL
Slide 25: Residential projects
Residential projects Anual summary Status Project name Units (total) Units (company’s share) summarydata Projects under construction and marketing TRUE Tel Aviv – Dafna – complex 505 232 102* (incl. 21 rental units) data Tel Aviv – Dafna – complex 501 391 171* (incl. 35 rental units) Herzliya North
Slide 26: Projects under development and marketing: TRUE Tel Aviv
Projects under Anual summary development and summarydata marketing data TRUE TEL AVIV Tel Aviv Dafna Complex 505 Company Company data data residential units sold residential units 77 232 Projects Projects under (of which 156 residential units units for marketing) underdevelopment expected revenue: r
Slide 27: Residential projects – short term
Residential projects – short Projected 1-3 years until commencement of development term Anual summary summarydata Company Company data data data Kiryat Ono – Hannah Szenes* Herzliya North #1 Tel Aviv – Dafna – Complex 501* Projects Projects under underdevelopment Residential Residential development
Slide 28: Residential projects – long term
Residential projects – long Projected 4+ years until commencement of development term Anual summary summarydata Company Company data data Haifa – lot 8001 Rehovot Holon Projectsdata Projects under underdevelopment development Tel Aviv – Dafna – Complex 502* Kiryat Yam #1, #2* Acre Residential Reside
Slide 29: Financial data
Financial data
Slide 30: Financial results 2025 (ILS millions)
Financial results 2025 (ILS millions) Anual summary 1-12.2024 1-12.2025 summarydata data 888 802 Company Company data 759 670 670 707 692 data 541 Projects Projects under 478 432 407 397 underdevelopment 295 development 258 Residential Residential FFO for shareholders FFO for shareholders Net profit
Slide 31: Financial results Q4 2025 (ILS millions)
Financial results Q4 2025 (ILS millions) Anual summary Q4 2024 Q4 2025 summarydata data 234 208 Company Company data 199 175 188 178 168 data 134 Projects Projects under 110 101 105 102 underdevelopment development 40 28 Residential Residential FFO for shareholders FFO for shareholders Net profit fo
Slide 32: Growth in NOI and FFO for shareholders
Growth in NOI and FFO for shareholders (ILS millions) Anual summary 660-680 summarydata 606 data 553 533 Company Company data 459 450-460 427 432 432 401 407 data 313 Projects Projects under 253 240 underdevelopment Residential Residential development 2020 2021 2022 2023 2024 2025 2026 (Forecas) Fin
Slide 33: Shareholder equity and dividends (ILS millions)
Shareholder equity and dividends (ILS millions) Anual summary summarydata data 4,906 4,515 Company Company data 4,205 3,976 data 3,611 Projects Projects under 2,774 underdevelopment Residential Residential development 570 200 260 275 305 290 Financial Financial data 31.12.2020 31.12.2021 31.12.2022
Slide 34: Financial strength
Financial strength Anual summary Weighted capitalization rate summarydata Weighted effective interest 7.38% data 6.95% 6.76% 6.73% 6.58% 6.30% Company Company data spread from weighted data cost of debt 4.4 Projects Projects under % underdevelopment development spread from marginal 2.47% 2.30% cost
Slide 35: Financial debt
Financial debt Anual summary summarydata Gross financial debt data 9,931 Company Company data ILS million data weighted avg. effective 81% Projects Projects under interest, index-linked 19% underdevelopment 2.30 fixed ILS development % 1,893 ILS million Residential Residential average duration index
Slide 36: Debt principal repayment schedule (ILS millions)
Debt principal repayment schedule (ILS millions) Anual summary summarydata 2,849 data 2,443 Company Company data Projectsdata Projects under 1,296 1,287 underdevelopment 1,043 1,013 Residential Residential development 2.5% 2.3% 2.6% 2.3% 2.3% 2026 2027 2028 2029 2030 2031-2036 Financial Financial da
Slide 37: Financial data (ILS millions)
Financial data (ILS millions) Anual summary summarydata Consolidated 1-12/2025 1-12/2024 [% change] data NOI 759 692 10 Same Property NOI 707 670 6 Company Company data Fair value increase of investment real estate 541 397 36 data Financing costs, net(1) 274 261 5 Projects Projects under Tax costs 2
Slide 38: Financial data (ILS millions)
Financial data (ILS millions) Anual summary summarydata *Shareholder share 1-12/2025 1-12/2024 [% change] data NOI 606 553 10 Same Property NOI 554 531 4 Company Company data Fair value increase of investment real estate 452 294 54 data Financing costs, net 253 240 5 Projects Projects under Tax cost
Slide 39: Financial data (ILS millions)
Financial data (ILS millions) Anual summary summarydata Consolidated 31/12/2025 31/12/2024 Liquid assets 772 757 data Fair value of investment real estate of which: 16,879 15,246 Income-generating real estate 13,200 12,009 Company Company data Real estate under construction 2,949 2,574 Land 730 663
Slide 40: Financial data (ILS millions)
Financial data (ILS millions) Anual summary summarydata Shareholder share* 31/12/2025 31/12/2024 data Liquid assets 607 661 Fair value of investment real estate of which: 14,309 12,880 Company Company data Income-generating real estate 10,925 9,904 Real estate under construction 2,823 2,463 data Lan
Slide 41: Forward-looking information
ה Forward-looking information current state of company’s areas of activity, This presentation includes forecasts, fields of activity, and macroeconomic facts and assessments, estimates and other information data, all as known to the company at the time of relating to future events and matters, whe