Gav-yam Lands Corp. Ltd · TASE:GVYM
Gav-yam Lands — Q3 2025 Earnings Presentation
38 slides from Gav-yam Lands's earnings presentation, Sep 30, 2025
Slide 1: Presentation for the Capital Market Summary Q3 2025
2025 Presentation for the Capital Market Summary Q3 2025
Slide 2: Data in summary 1-9.2025
Data in summary 1-9.2025 Quarterly summary data revenue from leased property and NOI NOI for FFO for shareholders per management fees shareholders management approach* 654 ILS560 ILS447 million ILS 322 million Company data ILS million million same property NOI increase value of income-generating val
Slide 3: Data in summary 1-9.2025
Data in summary 1-9.2025 Quarterly summary data net financial debt weighted avg. effective interest, income-generating properties index-linked 8,959 2.23 % 6.8 % weighted rate of Company data ILS million return to value of liquid assets non-pledged properties credit facility Projects under developme
Slide 4: Data in summary – NOI (ILS millions)
Data in summary – NOI (ILS millions) Quarterly summary data NOI forecast for 2025 updated from ILS 740-760 to 785-800 million* NOI for shareholders forecast for 2025 updated from ILS 595-615 to 625-640 million* 1-9.2025 1-9.2024 % change * 785-800 560 514 9% 2025 Company data **692 NOI 657 forecast
Slide 5: Data in summary – FFO for shareholders (ILS millions)
Data in summary – FFO for shareholders (ILS millions) Quarterly summary data FFO forecast for 2025 updated from ILS 415-425 to 430-445 million* 1-9.2025 1-9.2024 % change 430-445 * FFO Per management approach 322 306 5% Company data 2025 407 FFO Per Israel Securities Authority 161 156 3% forecast 40
Slide 6: Company data
Company data
Slide 7: Projects under development
Haifa Quarterly summary data Afula Tirat Carmel 19 Caesarea Herzliya Raanana Company data Tel Aviv high-tech, logistics and industry parks Holon 97 16 Projects under development Beer Yaakov Lod Rehovot Ness Ziona % Yavne Modiin Jerusalem occupancy rate cities nationwide Residential Financial data Ne
Slide 8: Distribution of investment real estate value
Distribution 30.09.2025 of investment real estate value Quarterly summary data Income-generating real estate 13,025 * ILS million Real estate under construction Investment real estate value 2,866 Company data ILS million ILS 16,600 million 17% Projects under development 78% 5% Residential Land Finan
Slide 9: Income-generating property value
Income-generating Quarterly summary data property 30.09.2025 value 6.8% rate of return Company data 1.2 million m2 78% high-tech parks 18% Projects under development and offices logistics and industrial ILS 13,025 milion Residential 4% Financial data retail 9
Slide 10: Home to the world’s largest companies
Quarterly summary data Company data Projects under development Residential Financial data 10 Home to the world’s largest companies
Slide 11: Sustainability
Quarterly summary data Sustainability Gav-Yam initiates and establishes projects under the LEED rating system, combining Company data innovative environmental solutions for energy and water conservation, pursuant to green construction standards Projects under development Renewable Green Energy energ
Slide 12: LEED rating system projects
LEED rating system projects Quarterly summary data Company data Projects under development Gav-Yam Hebrew Campus Matam East Towers Gav-Yam Center Herzliya Pituach TOHA Residential Gav-Yam Rehovot #5 Gav-Yam O2 Herzliya Gav-Yam Negev #4 Gav-Yam Negev #5 Gav-Yam Raanana Financial data 12
Slide 13: Real increase in rent Q3 2025
Real increase in rent Q3 2025 Quarterly summary data In Q3 of 2025 the company executed 49 lease agreements, with respect to an aboveground area of 67,000 m2 generating ILS 52 million per annum. Renewal contracts 4% Options exercised Company data real increase 5% real increase Projects under develop
Slide 14: Real increase in rent 1-9.2025
Real increase in rent 1-9.2025 Quarterly summary data In the first nine months of 2025 the company executed 134 lease agreements, with respect to an aboveground area of 138,000 m2 generating ILS 109 million per annum. Options exercised Renewal contracts 4% 5% real increase Company data real increase
Slide 15: Projects under development
Projects under development
Slide 16: Projects under development
Projects under development Approximately 300,000 m2 consolidated Quarterly summary data to to About About a in a a in a o bt o bt ic a t e of ic a t e of certif ncy certif ncy o c c u pa o c c u pa Company data Gav-Yam Park Negev #5 Gav-Yam Park Rehovot #5 Gav-Yam O2 Herzliya Matam East Towers #3 Pr
Slide 17: Projects under development – consolidated
Projects under development consolidated Quarterly summary data Annual Rate of Revenue for Construction Costs balance representative marketed marketed Project name Aboveground Parking Total Holding rate Total costs as of 30 Sep Completion date leasing revenue aboveground aboveground (including land)
Slide 18: Projects under development – expanded standalone
Projects under development expanded standalone* Quarterly summary data Annual Rate of Revenue for Construction Costs balance representative marketed marketed Project name Aboveground Parking Total costs as of 30 Sep Completion date leasing revenue aboveground aboveground (including land) 2025 ILS mi
Slide 19: Planned projects
Planned projects Quarterly summary data Company data Projects under development Gav-Yam Rehovot #6 Gav-Yam Negev #6 Matam Center #1 – parking building 15,000 m2 aboveground 17,000 m2 aboveground Stage A Residential 10,000 m2 parking 11,000 m2 underground parking Financial data 19
Slide 20: Residential
RESIDENTIAL
Slide 21: Residential projects
Residential projects Quarterly summary data Status Project name Unites Units (total) (company’s share) Urban renewal – 102* construction and Tel Aviv – Dafna – complex 505 232 marketing: (incl. 21 rental units) 171* (incl. 35 rental Tel Aviv – Dafna – complex 501 391 units) 88* (incl. 18 rental Tel
Slide 22: Residential projects
Residential projects Quarterly summary data Expected start of development Under construction Short term (1-3 years) Long term (4 years +) Tel Aviv – Dafna Tel Aviv – Dafna Kiryat Yam #1+#2 Complex 505* Company data Complex 501* Holon Herzliya North #1 Old Rehovot Kiryat Ono Hannah Herzliya North #2
Slide 23: Residential projects – short term
Residential projects – short term Quarterly summary data Company data Projects under development Tel Aviv – ToHa – lots 300 and 301 Tel Aviv – Dafna – Complex 501 urban renewal Tel Aviv - Dafna – Complex 505 urban renewal Residential Herzliya North #1 Kiryat Ono – Rahavat Hashaked Kiryat Ono – Hanna
Slide 24: Residential projects – long term
Residential projects – long term Quarterly summary data Company data Lost 8001 – Haifa Acre Beer Sheva Projects under development Old Rehovot Afula Kiryat Yam #1, #2 urban renewal v Residential Financial data Tel Aviv – Dafna – Complex 502 Holon Herzliya North #2 24
Slide 25: Financial data
Financial data
Slide 26: Financial results 1-9.2025 (ILS millions)
Financial results 1-9.2025 (ILS millions) Quarterly summary data 1-9.2024 1-9.2025 654 594 Company data 560 513 498 524 514 502 373 Projects under development 322 357 306 156 161 Residential FFO for shareholders FFO for shareholders Net profit for Increase in fair value of SAME PROPERTY NOI Revenue
Slide 27: Financial results Q3 2025 (ILS millions)
Financial results Q3 2025 (ILS millions) Quarterly summary data Q3 2024 Q3 2025 229 202 194 Company data 179 169 174 Projects under development 103 110 90 68 42 31 33 Residential FFO for shareholders FFO for shareholders Net profit for Increase in fair value of SAME PROPERTY NOI Revenue from rental
Slide 28: Growth in NOI (ILS millions)
Growth in NOI (ILS millions) Quarterly summary data NOI forecast for 2025 was updated from ILS 740-760 to 785-800 million* NOI for shareholders forecast for 2025 was updated from ILS 595-615 to 625-640 million* *785-800 Company data **692 657 *625-640 555 553 560 533 516 522 Projects under developme
Slide 29: Growth in FFO for shareholders
Growth in FFO for shareholders per management approach (ILS millions) Quarterly summary data FFO forecast for 2025 was updated from ILS 415-425 to 430-445 million* *430-445 401 407 Company data 322 313 306 253 Projects under development 240 Residential Financial data 2020 2021 2022 2023 2024 2025 FO
Slide 30: Shareholder equity and dividends (ILS millions)
Shareholder equity and dividends (ILS millions) Quarterly summary data 4,800 4,515 Company data 4,205 3,976 3,611 Projects under development 2,774 Residential 570 200 260 275 305 220 Financial data 31.12.2020 31.12.2021 31.12.2022 31.12.2023 31.12.2024 30.09.2025 Shareholder dividends Equity for sha
Slide 31: Financial strength
Financial strength Quarterly summary data Weighted capitalization rate Weighted effective interest 7.38% 6.95% 6.76% 6.76% 6.58% 6.30% Company data spread from weighted cost of debt 4.5 Projects under development % spread from marginal 2.47% 2.23% cost of capital 1.77% 1.47% Residential 1.43% 3 .5 1
Slide 32: Financial debt
Financial debt Quarterly summary data Gross financial debt 9,953 Company data ILS million weighted avg. effective 81% Projects under development interest, index-linked 19% 2.23 % ILS fixed ILS 1,878 million Residential average duration index-linked 8,075 3.3 ILS million Financial data years 32
Slide 33: Debt principal repayment schedule (ILS millions)
Debt principal repayment schedule (ILS millions) Quarterly summary data 2,450 Company data Projects under development 1,299 1,292 1,016 1,016 749 724 724 470 23 Residential 158 32 Financial data 10-12.2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 33
Slide 34: Financial data (ILS millions)
Financial data (ILS millions) Quarterly summary data Consolidated 1-9/2025 1-9/2024 [% change] NOI 560 514 9 Same Property NOI 524 498 5 Company data Fair value increase of investment real estate 513 357 44 Financing costs, net* 264 234 13 Projects under development Tax costs 133 89 49 Net profit fo
Slide 35: Financial data (ILS millions)
Financial data (ILS millions) Quarterly summary data *Shareholder share 1-9/2025 1-9/2024 [% change] NOI 447 411 9 Same Property NOI 411 395 4 Company data Fair value increase of investment real estate 425 254 67 Financing costs, net 245 215 14 Projects under development Tax costs 97 53 83 Net profi
Slide 36: Financial data (ILS millions)
Financial data (ILS millions) Quarterly summary data Consolidated 30/09/2025 31/12/2024 Liquid assets 994 757 Fair value of investment real estate of which 16,600 15,246 Income-generating real estate 13,025 12,009 Company data Real estate under construction 2,866 2,574 Land 709 663 Other properties
Slide 37: Financial data (ILS millions)
Financial data (ILS millions) Quarterly summary data *Shareholder share 30/09/2025 31/12/2024 Liquid assets 817 661 Fair value of investment real estate of which: 14,080 12,880 Company data Income-generating real estate 10,804 9,904 Real estate under construction 2,727 2,463 Land 549 513 Other prope
Slide 38: 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