Peach Property Group Ag · SIX:PEAN
Peach Property — H1 2026 Earnings Presentation
61 slides from Peach Property's earnings presentation, Sep 23, 2026
Slide 1: HY 2026 Results
HY 2026 Results September 2026
Slide 2: Disclaimer
Disclaimer These materials contain forward-looking statements based on the currently held beliefs and assumptions of the management of Peach Property Group AG (hereinafter also referred to as «PPG» or «Peach Property»), which are expressed in good faith and, in their opinion, reasonable. Forward-loo
Slide 3: Today's Presenter
Today‘s Presenter Gerald Klinck Chief Executive Officer • CEO of the Peach Property Group since April 2024 • In addition to his role as CEO at Peach Property Group, he holds the responsibilities of the CFO • He has more than 25 years of experience in the real estate industry 3
Slide 4: Agenda
Agenda 1. Value Creation and Performance Drivers 2. Overview of Peach Performance in HY 2026 • Peach at a Glance • Operational • Financial Performance • Update on ESG • Overview of Financial Statement • Appendix 4
Slide 5: Progress Update HY 2026
Progress Update HY 2026 Turning our strategy into measurable progress – we are on track Milestones HY 2026 Top-Line growth on strategic portfolio (actual rent increase annualized) 73 % 27 % Vacancy reduction below 3 % 62 % 38 % Closing of asset deal notarized in December 2025 91 % 9% No maturities i
Slide 6: Highlights HY 2026
Portfolio and Financials Operations •Net cold rent in strategic portfolio up 3.2 % to EUR 6.68/m²; ~13 % •Adjusted EBITDA up 25 % to ~EUR 30m upside to market rent •H1 FFO stable at ~EUR 9m •Like-for-like rental income on strategic portfolio up 5.1 % (HY 2025 •FY2026 FFO guidance of EUR 17–19m confi
Slide 7: Target Vision 2028
Target Vision 2028 • 16 000 units focused in NRW • Net cold rent of more than EUR 7 • LTV below 45 % • NOI margin of 80 % per sqm / month • Debt to EBITDA Multiple of 12x • EBITDA margin of 65 % • Net cold rent growth between • All-in interest rates on market • FFO around EUR 30 - 32m 3.5 % - 4.0 %
Slide 8: EBITDA potential realization based on HY 2026
EBITDA potential realization based on HY 2026 First steps towards achieving FY28 targets on strategic portfolio already delivered Top-Line Growth of EUR 11m to 12m (2026-2028) Operating Cost effect of EUR 6m to 7m (2026-2028) Reduction of the collection risk from 4.4 % to 2.5 % 6 % rent growth a
Slide 9: EBITDA and FFO Performance of the strategic portfolio until 2028
EBITDA and FFO Performance of the strategic portfolio until 2028 HY Result confirms Guidance 2028 in €m Target Rent Achievements in 2028 91.7 Vacancy • Focus on disposal of non-strategics until 2027 5.7 • KPIs in line with peers Actual Rent 86.0 • Net cold rent of around EUR 7 per sqm / month and va
Slide 10: Further deleveraging ongoing, supported by asset disposals
Further deleveraging ongoing, supported by asset disposals Remaining EUR 124m of secured loans on non-strategics will be repaid by 2028 Changes in debt profile in €m in €m 3.89 % 4.15 % Total debt per 31.12.2025 1 022 1.100 1 022 Repayments -6 1.000 -58 Amortization Secured 6 79 -54 854 Disposals 58
Slide 11: Debt structure as of June 2026
Debt structure as of June 2026 Stable debt profile with a derisked maturity structure Maturity profile 1 500 Amount Ø interest Fixed 449 €m rate rate 450 75 € 388m financing Secured 400 includes an extension 100 % 854 4.15 % 90 %* 350 option 300 *incl. hedges €m 250 182 Unencumbered assets: € 75m 20
Slide 12: Debt to EBITDA Multiple on an outperformed level to peers in 2028
Debt to EBITDA Multiple on an outperformed level to peers in 2028 Lower leverage provides a solid foundation towards financial resilience in €m DEBT EOP EBITDA DEBT/EBITDA multiple 1 022 701 720 13 % p.a. 46 51 61 1 2025 HY 2026 strategic annualized² 2028² 20x 15.5x 12x • 2x from swiss debt • 3x fro
Slide 13: Guidance 2026 & mid-term financial targets
Guidance 2026 & mid-term financial targets HY26 performance confirms we are on track to deliver FY26 guidance Midterm targets (2028) Actuals Guidance HY 2026 FY 2026 FFO FFO growth in detail in appendix € 30m-32m L-f-l rental growth Sustainable growth target in the ~4% long run FFO FFO Group Vacancy
Slide 14: Agenda
Agenda 1. Value Creation and Performance Drivers 2. Overview of Peach Performance in HY 2026 • Peach at a Glance • Operational • Financial Performance • Update on ESG • Overview of Financial Statement • Appendix 14
Slide 15: Milestones HY 2026
Milestones HY 2026 Consistently delivering on our commitments 18 March 2026 May to June 2026 19 June 2026 September 2026 Tender Offer for Closing of asset deal AGM CHF 10m Tender offer Convertible Bond ~ 2 054 units Positive voting on Buyback Hybrid CHF 15m conditional capital Results of CHF 4.7m su
Slide 16: Peach at a glance
Peach at a glance Affordable German residential properties in selected B-cities Total Strategic Non-strategic Total Peach Property Group Portfolio Jun 30, 2026 Jun 30, 2026 Jun 30, 2026 Jun 30, 2025 owns ~20 000 residential Actual Rent³ € 54m € 42m € 12m € 53.3m units across 9 federal states in Germ
Slide 17: Development of Peach Portfolio
Development of Peach Portfolio Successful disposals sharpened the portfolio and strengthened our strategic focus Strategic Non-strategic Metric 31.12.2025 30.06.2026 Metric Transaction After other HY 2026 2025 Sales FY254 Portfolio Share 74 % 80 % Share non- 26 % 56 % 20 % Units 16 480 16 220 strate
Slide 18: Agenda
Agenda 1. Value Creation and Performance Drivers 2. Overview of Peach Performance in HY 2026 • Peach at a Glance • Operational • Financial Performance • Update on ESG • Overview of Financial Statement • Appendix 18
Slide 19: EBITDA bridge HY 2025 to HY 2026
EBITDA bridge HY 2025 to HY 2026 Positive impact from rent increases is undermined by one-off-effects Comments In €m • Less target rent due to ongoing disposal of non-strategics 1,1 0,1 29,9 • Improvement in all operational categories, especially in expenses 3,3 from letting due to decreased vacancy
Slide 20: Development of Rental Income
Development of Rental Income Consistent rent growth supports the improvement of our operational performance Development of actual rent Rental income in €m Jun 30, Jun 30, Jun 30, Strategic in € thousands 2024 2025 2026 2026 Target rental income from letting of ~5.1 % p.a. 1 70 730 58 812 58 528 45 1
Slide 21: Rental potential residential units
Rental potential residential units Actual and market rents are increasing in parallel Strategic Portfolio Comments Figures in € / sqm 1 • In-place rents in the strategic portfolio continue to increase 7.51 7.52 7.54 • New lettings demonstrate strong rental growth potential • 13 % embedded rental ups
Slide 22: Major vacancy milestone achieved
Major vacancy milestone achieved On track for target of vacancy levels below 3 % in strategic portfolio Development of vacant residential units and vacancy ratio per 30.06. Strategic Vacancy Figures in units # of units based on rent 19,50% Vacancy Main impact 3.3 % from 18,50% 2 043 portfolio 17,50%
Slide 23: Development of other operating expenses
Development of other operating expenses Consistent progress towards our strategic goals Other operating expenses in €m Other operating expenses in € thousands Jun 30, 2024 Jun 30, 2025 Jun 30, 2026 6.38 Fees and legal expenses -2 315 -1 484 -2 211 IT expenses -1 008 -793 -1 045 Capital taxes, input
Slide 24: Development of expenses from letting of investment properties
Development of expenses from letting of investment properties Underlying rental performance remains positive despite portfolio disposals Expenses from letting of investment properties in € thousands Jun 30, 2024 Jun 30, 2025 Jun 30, 2026 HY 2026 Strategic Expenses from letting of investment properti
Slide 25: Development of Personnel Expenses
Development of Personnel Expenses Overall restructuring decreases expenses Personnel expenses in €m Total personnel expenses in € thousands Jun 30, 2024 Jun 30, 2025 Jun 30, 2026 Salaries -8 068 -7 875 -6 780 Social insurance cost -1 248 -1 324 -1 185 Employee benefits – defined benefit plan -49 -49
Slide 26: Operational KPIs in HY 2026
Operational KPIs in HY 2026 Number of residential units Strategic Actual rental income Strategic (€m) Target rental income Strategic (€m) Adj. EBITDA (€m) HY 2025 16 479 HY 2025 40.9 HY 2025 44.2 HY 2025 23.8 -1.6 % +3.4 % +1.2 % +28.3 % HY 2026 16 220 HY 2026 42.3 HY 2026 44.8 HY 2026 29.9 Vacancy
Slide 27: Agenda
Agenda 1. Value Creation and Performance Drivers 2. Overview of Peach Performance in HY 2026 • Peach at a Glance • Operational • Financial Performance • Update on ESG • Overview of Financial Statement • Appendix 27
Slide 28: Targeted CAPEX supports continued rental growth
Targeted CAPEX supports continued rental growth Lower investment levels reflect the successful execution of key measures, while targeted CAPEX continues to support vacancy reduction and rental growth CAPEX HY 2026 Figures in €m 4.7 € 27.7/sqm € 22.7/sqm € 10.6/sqm 8.5 € 10.8/sqm CAPEX Measures Tenan
Slide 29: Portfolio valuation stabilized and confirmed
Portfolio valuation stabilized and confirmed Sustainable valuation level has been reached, corrections are completed Valuation result HY 2026 Key valuation indicators 1 in €m 21 Dec 31, 2024 Dec 31, 2025 Jun 30, 2026 20 Total fair market value € 1 899m € 1 934m € 1 810m Rental yield based on target
Slide 30: Debt structure as of June 2026
Debt structure as of June 2026 Stable debt profile with a derisked maturity structure Maturity profile 1 500 Amount Ø interest Fixed 449 €m rate rate 450 75 € 388m financing Secured 400 includes an extension 100 % 854 4.15 % 90 %* 350 option 300 *incl. hedges €m 250 182 Unencumbered assets: € 75m 20
Slide 31: Further deleveraging ongoing, supported by asset disposals
Further deleveraging ongoing, supported by asset disposals Remaining EUR 124m of secured loans on non-strategics will be repaid by 2028 Changes in debt profile in €m in €m 3.89 % 4.15 % Total debt per 31.12.2025 1 022 1.100 1 022 Repayments -6 1.000 -58 Amortization Secured 6 79 -54 854 Disposals 58
Slide 32: Changes in accounting policies at HY 2026
Changes in accounting policies at HY 2026 Adjustments to FFO and NTA calculation FFO NTA Jun 30, Jun 30, in € thousands Dec 31, 2025 Jun 30, 2026 in € thousands 2025 2026 EBITDA -20 187 28 945 Equity attributable to PPG equity 896 206 895 950 Net result from valuation 2 513 - 4 607 holders Result fr
Slide 33: Financial KPIs in HY 2026
Financial KPIs in HY 2026 Portfolio market value in €m 1 Debt volume in €m FFO (€m) Debt/EBITDA multiple YE 2025 1 937 YE 2025 1 022 HY 2025 0.15€/ 6.7 HY 2025 21.6x share -6.6% -1.3% -16.4 % +32.8 % -5.6x HY 2026 1 810 HY 2026 944 HY 2026 0.16€/share 8.9 HY 2026 16.0x Multiple on target rent WACD E
Slide 34: Agenda
Agenda 1. Value Creation and Performance Drivers 2. Overview of Peach Performance in HY 2026 • Peach at a Glance • Operational • Financial Performance • Update on ESG • Overview of Financial Statement • Appendix 34
Slide 35: Continuous and transparent ESG reporting
Continuous and transparent ESG reporting Affordable and sustainable living spaces • ESG Factsheet in accordance with the Global Reporting Initiative (GRI) standards • Published in July 2026; available on https://www.peachproperty.com/en/news- en/sustainability-reports/ Release of Factsheet 2025: Jul
Slide 36: Peach earned CDP B-rating
Peach earned CDP B-rating the highest rating category in CDP SME score in 2025 36
Slide 37: ESG Performance Highlights
ESG Performance Highlights Key environmental and social performance indicators demonstrating continuous progress. • Our ESG performance improved across all key indicators in 2024 • Greenhouse gas intensity and building energy intensity both decreased, reflecting greater operational efficiency • At t
Slide 38: Portfolio Energy Performance
Portfolio Energy Performance Comments • 21 kWh/m² portfolio average energy intensity • Limited comparability with 2023 due to the transition to AI-based data processing • Improved data quality establishes a stronger basis for future ESG reporting 38
Slide 39: Tenant satisfaction
Tenant satisfaction Decentral organization still achieves high satisfaction levels Tenant inquiries “One-touch” rate 91.4 % 90.1 % 91.3 % 91.2 % 87.0 % Tenant tickets received Tenant tickets solved 121 928 182 752 98.4 % 2021 2022 2023 2024 2025 At a consistently Tenant satisfaction high level 78.0
Slide 40: Agenda
Agenda 1. Value Creation and Performance Drivers 2. Overview of Peach Performance in HY 2026 • Peach at a Glance • Operational • Financial Performance • Update on ESG • Overview of Financial Statement • Appendix 40
Slide 41: Consolidated statement of income (I/II)
Consolidated statement of income (I/II) Figures in € thousands Jun 30, 2025 Jun 30, 2026 Rental income 51 579 53 166 Comments 1 Valuation gains from investment properties 64 108 13 282 Decrease of target rent but less lost income due to vacancy result 1 Profit on disposal of investment properties 0
Slide 42: Consolidated statement of income (II/II)
Consolidated statement of income (II/II) Figures in € thousands Jun 30, 2025 Jun 30, 2026 Comments EBIT 19 503 29 018 Financial income 2 993 3 524 1 Increase in interest expenses results from a higher average interest ./. Financial expenses -24 295 -29 677 rate for overall financing due to refinanci
Slide 43: Consolidated statement of financial position
Consolidated statement of financial position Figures in € thousands Jun 30, 2025 Jun 30, 2026 Comments Cash & cash equivalents 9 728 18 080 Trade receivables 8 922 9 387 1 Current financial receivables include restricted bank accounts Other receivables 20 250 22 527 pledged. Current financial receiv
Slide 44: FFO per HY 2026
FFO per HY 2026 Comments Jun 30, Jun 30, in € thousands 2025 2026 1 Increase of adjusted EBITDA despite asset disposals due to EBITDA -20 187 29 632 improvement of operational performance. Adjusted EBITDA 23 805 29 852 1 Interest expenses -14 530 -19 558 2 Interest income impacting liquidity 403 18
Slide 45: ICR & LTV per HY 2026
ICR & LTV per HY 2026 Calculation Interest coverage ratio Interest coverage ratio in € thousands Dec 31, 2024 Dec 31, 2025 Jun 30, 2026 Operating result -124 125 -3 669 29 018 1.54 1.66 Valuation result and depreciation 81 226 -478 -4 607 1.44 Result of disposals/divestitures 101 311 50 331 4 771 No
Slide 46: Equity, share & key figures
Equity, share & key figures Equity ratio (IFRS) in € thousands in € thousands Dec 31, 2025 Jun 30, 2026 IFRS equity 915 410 895 905 thereof hybrid capital 39 758 39 758 thereof non-controlling interest 19 205 19 258 898 999 915 410 895 905 Equity ratio IFRS 43.8 % 45.4 % 39.68 % 43.80 % 45.35 % Numb
Slide 47: Appendix
© peach PROPERTY GROUP Appendix
Slide 48: Our Management
Our Management Executive Management 25+ 15+ Gerald Klinck Stefanie Koch Chief Executive Officer, Chief Operating Officer CFO responsibilities <1 25 Board of Directors 25+ 25+ 25+ 25+ 25+ Michael Zahn Urs Meister Beat Frischknecht Cyrill Schneuwly Alexander Hesse Chairman of the Board Member of the B
Slide 49: Share data
Share data Significant shareholders as of Jun 30, 2026 Information on the share Dec 31, 2025 Jun 30, 2026 30.03 % 38.38 % Share capital in CHF 55 535 334 55 632 358 Number of shares issued 55 535 334 55 632 358 Nominal value per share in CHF 1.00 1.00 Number of treasury shares 501 501 Number of outs
Slide 50: Initial Situation
Portfolio and Financials Operations • No clear sales strategy implemented and significant • High LTV of almost 60 % (YE2023) portion of the portfolio marketed for sale • >EUR 350m secured short-term debt • High vacancy of more than 10 % • >EUR 400m unsecured short-term debt • Low capex spending in p
Slide 51: Current Situation
Portfolio and Financials Operations •Significant spending on Tenant Improvements creating top-line •Lower LTV of 49 % growth •New secured loan facility with 5y maturity of EUR 410m •L-f-l rent growth of 3.8 % p.a. in two years •Repayment of unsecured debt of EUR 370m •Vacancy down to 5.2 %, strategi
Slide 52: Capital market development
Capital market development Credit ratings (Corporate Rating) Recent capital market transactions May 2026 Full repayment of convertible bond and majority closing of asset deal Jun 2026 General Meeting resolves to increase conditional capital and approves all other proposals BB BB Mar 2026 Tender offe
Slide 53: Our portfolio strategy
Our portfolio strategy Focus on strategic assets to create EBITDA growth German Defining the Non-Strategic bucket… Portfolio Unterstützt von Bing © GeoNames, Microsoft, TomTom Selection Criteria • Small assets (<75 residential units) • Distance to next Peach Point (>40 km) • High vacancy • Low renta
Slide 54: Portfolio structure as of Jun 30, 2026
Portfolio structure as of Jun 30, 2026 Investment properties € 1 810 (97 %) Investment properties € 26m (1 %) Total portfolio market value Development properties € 35m (2 %) € 1 956m Market values determined by Wüest Partner AG as of Jun 30, 2024, excluding right-of-use assets Maps: © Vempas.com 54
Slide 55: Portfolio fully focused on residential space
Portfolio fully focused on residential space Rental income by use category as of Jun 30, 2026 Breakdown of residential units by federal state as of Jun 30, 2026 In % of total units In % of total rental income before collection loss Parking & other 4.7 %4.7 % Commercial 3.2 % 4.1 % 4.1 % Previous yea
Slide 56: Typical properties in Peach's portfolio
Typical properties in Peach’s portfolio Affordable German residential properties in carefully selected B-cities 56
Slide 57: Milestones 2025
Milestones 2025 Successful implementation of balance sheet transformation March 2025 July 2025 27 August 2025 September/October December 2025 2025 € 55m CHF 50m / EUR Publication HY Signing of portfolio SSD Promissory 52m Results € 410m payout deal of ~2 000 assets Payback Capital Increase secured l
Slide 58: Peach Points – our regional tenant shops
Peach Points – our regional tenant shops 10 Peach Points at all major Peach locations Cornerstone of direct dialogue with our tenants Dortmund Munster / Faßberg Minden Marl Lower Saxony Gelsenkirchen Essen Central Oberhausen point of Witzenhausen Erkrath contact for rental and North Rhine-Westphalia
Slide 59: Development project in CH «Peninsula Wädenswil»
Development project in CH «Peninsula Wädenswil» 57 condominiums in 5 buildings Total sales volume expected CHF 130-140m Sales status as of June 30, 2026 Construction status as of June 30, 2026 • Sales volume expected CHF 130-140m • Stage of completion: 86.3 % (Dec 31, 2025: 81.5 %). • Notarized unit
Slide 60: Peach Property in the German media landscape
Peach Property in the German media landscape Proactive dialog with the media 60
Slide 61: Investors, Analysts and Media
Investors, Analysts and Media Gerald Klinck, Chief Executive Officer +41 44 485 50 31 investors@peachproperty.com