Swiss Prime Site Ag · SIX:SPSN
Swiss Prime Site — Investor Day (May 2025)
42 slides from Swiss Prime Site's investor day presentation, May 15, 2025
Slide 1: Swiss Prime Site Capital Markets Day, Geneva, 15th May 2025
RESULTATE RESULTATE RESULTATE DELIVERING DELIVERING GROWTH GROWTH IN IN DELIVERING DELIVERING GROWTH GESCHÄFTSJAHR 2024 GROWTH GESCHÄFTSJAHR IN 2024IN Die vier fertiggestellten GESCHÄFTSJAHR SWISS SWISS REAL REAL 2024 ESTATE ESTATE «Fingerdocks» Neubauten im Stücki Park Basel bieten SWISS REAL ESTAT
Slide 2: Disclaimer
Disclaimer Details published in this presentation are for information purposes only and should not form the basis for any investment decisions or recommendations to purchase Swiss Prime Site AG securities. The content of this presentation was diligently researched and compiled. However, Swiss Prime
Slide 3: Agenda
Agenda 1. GROUP AND PORTFOLIO STRATEGY 2. MOMENTUM IN ASSET MANAGEMENT 3. FINANCIAL STRATEGY Swiss Prime Site Capital Markets Day 2025 3
Slide 4: Switzerland is sound and stable amid global uncertainty
GROUP STRATEGY Switzerland is sound and stable amid global uncertainty Growing Growing High Economy Population Productivity 1.4% 0.8% +4% Real GDP Growth Population Growth vs. OECD Average Note: Numbers indicate latest 2025 estimates, Productivity compares GDP per hour worked as per OECD (latest ava
Slide 5: Macro fundamentals – the base for lettings demand and capital flows
GROUP STRATEGY Macro fundamentals – the base for lettings demand and capital flows High Employment Growth Diversified GDP Split Mix Continued Low Inflation Indexed to 2000 Nominal, LTM Q4 2024 – Pr oducti on Per spect iv e Headl in e infla t ion y-o-y 140 ~USD 91 000 GDP per Head 10% Top 5 per OECD
Slide 6: Our transformation – we are agile, growing and profitable
GROUP STRATEGY Our transformation – we are agile, growing and profitable 2019 2024 P r o-for ma ex Jelmol i 0% 13% 34% Earnings profile 45% 87% 10% 10% 1% Rental Income & Development Asset Management Property Retail Assisted Living Management Topline growth 3.7% 9.5% EBITDA-Margin 52% 79% Swiss Prim
Slide 7: We are executing on our growth strategy
GROUP STRATEGY We are executing on our growth strategy Strategy ✓ Pure play real estate platform – executed on retail discontinuation ✓ Fullsome Asset Mannagement suite with Fundamenta acquisition ✓ Delivering 3+% like-for-like growth seizing lettings demand Portfolio ✓ Developments delivered to pla
Slide 8: Swiss Prime Site – One Platform. Two Pillars. Distinct Strategies.
GROUP STRATEGY Swiss Prime Site – One Platform. Two Pillars. Distinct Strategies. Property Portfolio Asset Management CHF 13.1 bn 5%+ CHF 13.3 bn 25%+ Investment Properties Return on Equity Return on Equity AuM Economic Focused Location Centres areas Circle indicative for typical property size Use C
Slide 9: We create living spaces
se SWISSPRIM 1E SITE Bt WUHAN N GT i panes] i 5 iL FEU RREREEE Be ‘aun ——“Twinmoda PIPEEELEUUR Ti iT) Wane RAG | Wit yh | ae ‘ ora ga ws eb ie i 4 jy We CREATE LIVING SPACES
Slide 10: Our portfolio today: focused on the Swiss economic centres
PORTFOLIO STRATEGY Our portfolio today: focused on the Swiss economic centres 13% Northwestern 55% Zurich and Central Switzerland Switzerland 9% CHF 13.1 bn Berne Property portfolio ( FY 2023: CHF 13.1 bn) 20% Lake Geneva 139 Number of properties ( FY 2023: 159) 1.6 million m 2 Rental space ( FY 202
Slide 11: Our capital recycling strategy
PORTFOLIO STRATEGY Our capital recycling strategy 1 2 3 Funding pipeline Optimising mix¹ Enhancing of location & sustainability Sales in CHF m 2020 2021 2022 2023 2024 Office − Non-core Sales 126 Retail Office − Low 230 259 Retail BREEAM rating 317 345 CHF 1.3 billion Logistics/Infrastructure Assist
Slide 12: Capital upcycled via portfolio transformation
PORTFOLIO STRATEGY Capital upcycled via portfolio transformation Portfolio overview by category in 2020 and today Portfolio consolidation with fewer buildings… … focus on premier buildings with value potential Number of Buildings 2024 Total 139 Fair Value per Category (CHF bn) 2024 CHF 13.1 bn 2020
Slide 13: Growth and higher quality earnings with an enhanced portfolio
PORTFOLIO STRATEGY Growth and higher quality earnings with an enhanced portfolio 2020 2024 Higher 1 rent CHF 425 mn CHF 464 mn Central Core Locations; Core Locations; 2 88% 96% Locations¹ Types of use with Office; Retail; Office; Retail; 3 44% 26% 50% 20% rent growth² Logistics/ Infra; 6% Logistics/
Slide 14: Accretive acquisition pipeline
PORTFOLIO STRATEGY Accretive acquisition pipeline Pipeline in our existing focus areas Target City / Region Use Size Rental income Process (CHF mn) (CHF mn p.a.) Geneva, Place- 1 Office >75 3.5 Completed des-Alpes 2 French speaking Office >200 >7.5 Due Dilligence German 3 Lab/Office >150 >7.5 Due Di
Slide 15: Place-des-Alpes Acquisition: The Swiss Prime Site success factor
PORTFOLIO STRATEGY Place-des-Alpes Acquisition: The Swiss Prime Site success factor Our proposition Key Property Elements 1 Leading Preferred real estate partner for blue chip global company SGS Letting Area Gross Rent 5 800 m² CHF 3.5 mn Workspaces ~ 300 Prime portfolio offering sought Letting Stra
Slide 16: Place-des-Alpes – In the heart of Geneva
PORTFOLIO STRATEGY Place-des-Alpes 1 – In the heart of Geneva Front view of the historic building with direct access to a park on the shores of lake Geneva. Rear view of the more modern part of the building with glass façade. Swiss Prime Site Capital Markets Day 2025 16
Slide 17: Destination Jelmoli – The space to work and live
PORTFOLIO STRATEGY Destination Jelmoli – The space to work and live Construction project and concept ∙ Iconic Jelmoli building will be re-developed into a mixed-use building complex ∙ Two original atriums will be reactivated, and the rooftop terrace to be redesigned for commercial use ∙ Rental space
Slide 18: Destination Jelmoli – Rooftop Concept
PORTFOLIO STRATEGY Destination Jelmoli – Rooftop Concept Rooftop project and concept ∙ Design by Vogt Landschaftsarchitekten ∙ New public attraction for Zurich residents and tourists ∙ Meeting place ∙ Variety of uses: experience, leisure, work ∙ Wide range of hospitality from restaurants to events ∙
Slide 19: BERN 131 – a Circular Triangle
PORTFOLIO STRATEGY BERN 131 – a Circular Triangle Construction project and concept ∙ BERN 131, a hybrid timber construction featuring photovoltaic modules on the roof and facades, and an innovative energy-efficient building technology concept ∙ The building offers around 13 500 m2 of flexible, high-
Slide 20: YOND Campus
PORTFOLIO STRATEGY YOND Campus Construction project and concept ∙ Further opening of an industrial heritage site with integration into the neighbourhood ∙ Upgrade of the open spaces/street areas ∙ Expansion of the existing YOND.01 into the YOND Campus ∙ 2 new buildings (YOND.02 + 03), 1 conversion (
Slide 21: Geneva Grand Passage – 'Grand' potential via two ways
PORTFOLIO STRATEGY Geneva Grand Passage – ‘Grand’ potential via two ways Overview Alternatives All outcomes yielding: Building complex Roll «As Is» Relet «Redeveloped» around Rue du Rhône, Rue du Marché and ▪ Roll Globus and other leases for ▪ Transformational upgrade and new Place du Molard with 5+
Slide 22: We create living spaces
WE CREATE LIVING SPACES WE WECREATE CREATE LIVING LIVINGSPACES SPACES
Slide 23: Agenda
Agenda 1. GROUP AND PORTFOLIO STRATEGY 2. MOMENTUM IN ASSET MANAGEMENT 3. FINANCIAL STRATEGY Swiss Prime Site Capital Markets Day 2025 23
Slide 24: Asset Management – Our synergetic & complementary pillar
ASSET MANAGEMENT Asset Management – Our synergetic & complementary pillar 100% 100% Property Portfolio Asset Management third party capital 14% › Direct ownership 30% › Discretionary and fiduciary fund 11% 44% management and advisory services › Prime properties in the best locations in Switzerland ›
Slide 25: Swiss Prime Site Solutions – Profile and strengths
ASSET MANAGEMENT Swiss Prime Site Solutions – Profile and strengths Company Facts Our USPs Portfolio Facts SPS as THE leading Swiss real AuM › CHF 13.3 bn ✓ estate platform (> CHF 26 bn) › Over 600 assets 130 4 Offices ✓ FINMA fund management licence Commercial 40% Employees Residential Gewerbe ✓ Ec
Slide 26: The Sub-Pillars of Swiss Prime Site Solutions
ASSET MANAGEMENT The 3 Sub-Pillars of Swiss Prime Site Solutions Fund Management + 180 Asset Management + 150 Real Estate Advisory + 50 – Discretionary – CHF mn – Fiduciary – CHF mn CHF mn Capital increases Capital increases Capital increases announced/ announced/ announced/ executed executed 4.2 bn
Slide 27: Swiss Pension fund system as the key capital foundation
ASSET MANAGEMENT Swiss Pension fund system as the key capital foundation Cash Equities 4% 30% Other AuM 8% Alternatives CHF 1.1 8% trillion direct and collective investments Bonds 23% 27% 4.7 mn Real Estate allocation 0.9 mn insured and retired employed (pensioners) + CHF 17 bn1 net contributions p.
Slide 28: Road to CHF 16+ bn AuMs in 2027
ASSET MANAGEMENT Road to CHF 16+ bn AuMs in 2027 AuM Development in CHF bn Equity ~0.5 ~0.6 CHF 16+ bn ~2.0 13.3 Reinvesting Products Leverage ▪ Max. 33% LTV Vehicles reinvesting earnings: ▪ Further LTV-potential in all New Equity ▪ Swiss Prime Investment products due to low ▪ ~CHF 600 mn+ p.a. Foun
Slide 29: Profitable growth in Asset Management
ASSET MANAGEMENT Profitable growth in Asset Management Market Swiss Prime Site Solutions ~ CHF 4-5 bn net pension Strong fundamentals in funds inflow 70% Recurring Fees EBITDA Margin > 50% Swiss Real Estate market into Real Estate Assets under Management growth CHF 1 bn per year Economies of scale S
Slide 30: We create living spaces
WE WECREATE CREATE WE WECREATE CREATE LIVING LIVINGSPACES SPACES LIVING LIVINGSPACES SPACES
Slide 31: Agenda
Agenda 1. GROUP AND PORTFOLIO STRATEGY 2. MOMENTUM IN ASSET MANAGEMENT 3. FINANCIAL STRATEGY Swiss Prime Site Capital Markets Day 2025 31
Slide 32: Resilient growth through focus with scale
FINANCIAL STRATEGY Resilient growth through focus with scale Property Portfolio Asset Management Stringent lettings Growth in Accretive acquisitions Development growth capturing reversion Fee-related earnings Platform focus Strong balance sheet Economies of scale Resilient Growth Swiss Prime Site Ca
Slide 33: Delivering rent reversion year over year with more potential
FINANCIAL STRATEGY Delivering rent reversion year over year with more potential Delivering strong real growth… … with significant upside in current renewals E P RA Lik e-for - l ik e Gr owth Select e d new lease agr eemen t s Rent vs. Rent vs. 4.3% Space Deal type Total m² Market previous in- place
Slide 34: Acquisitions delivering income and value growth
FINANCIAL STRATEGY Acquisitions delivering income and value growth CHF 300 mn Total Firepower CHF 450-500 mn Equity from Capital Increase Leverage Acquisition Pipeline Acquisition Pipeline Net Yields (unlevered) Earnings Yields (levered) Upper end: 5.4% Lower end: 4.9% Current FFO Yield 4.8%² Upper
Slide 35: Aspiration of CHF 500+ million rental income in 2028
FINANCIAL STRATEGY Aspiration of CHF 500+ million rental income in 2028 Rental Income in CHF mn ~30 ~17 ~ -25 ~20 500+ 464 thereof Sales Development CHF 36 mn LFL Acquisitions deliveries Jelmoli and Growth Grand Passage 2024 2028 Aspiration Note: Approximate plan figures dependent on multiple extern
Slide 36: A focused platform delivers economies of scale
FINANCIAL STRATEGY A focused platform delivers economies of scale Real Estate Portfolio Asset Management Number of Buildings EPRA Cost ratio Asset Value (in CHF bn) Cost ratio (Segment) (Segment) AUM (in CHF bn) 240 15 54% 22% 20% 14.5 220 18% 14 17% 41% 42% < 16% 41% 13.5 200 13.1 13.1 13.1 ~35% 18
Slide 37: Continuation of our prudent financing strategy
FINANCIAL STRATEGY Continuation of our prudent financing strategy Financing parameters A3 Rating – Moody’s in CHF million stable 2023 2024 Consolidated financing structure Investment properties 13 075 13 053 88% unsecured of which unencumbered 86% 87% Financial liabilities Secured 5 304 5 025 Unsecu
Slide 38: Delivering cash flow for an attractive dividend
FINANCIAL STRATEGY Delivering cash flow for an attractive dividend Potential in Funds From Operations I (FFO I) bridge in CHF per share ~10% ~2% Growth Potential ~4% ~4% Efficiency & 4.22 Asset Scale Rental Management Growth Growth 2024 2028 Actual Aspiration Note: Assuming no material changes to fi
Slide 39: Our primary medium-term targets
FINANCIAL STRATEGY Our primary medium-term targets Real Estate Portfolio Asset Management 2028 2027 Rental Income CHF 500+ mn AuM CHF > 16 bn EPRA Cost Ratio < 16% EBITDA CHF > 75 mn Swiss Prime Site Capital Markets Day 2025 39
Slide 40: Delivering Growth in Swiss Real Estate
GROUP STRATEGY Delivering Growth in Swiss Real Estate Disciplined Specialist across the Focused Strategy Capital Allocation Swiss Market Rent and fee growth Accretive developments CHF 30 bn with efficient cost base and acquisitions Platform Resilient Growth ~10% FFO potential Note: Figures refer to
Slide 41: We create living spaces
WE CREATE WE WECREATE CREATE LIVING SPACES LIVING LIVINGSPACES SPACES
Slide 42: Your contact
Your contact Florian Hauber Head Treasury and Investor Relations Business: +41 58 317 17 64 Mobile: +41 78 600 81 40 florian.hauber@sps.swiss Company calender Headquarters Zurich Office Geneva Office Results HY 2025 21 August 2025 Swiss Prime Site AG Swiss Prime Site AG Swiss Prime Site AG Poststras