Electra Real Estate Ltd. · TASE:ELCRE
Electra Real Estate — Q2 2023 Earnings Presentation
48 slides from Electra Real Estate's earnings presentation, 2023
Slide 1: Electra Real Estate Q2 2023 capital markets presentation
EMIF Ill, The Elysian, FL 2023 UDIIIN
Slide 2: Company overview
MW NN) PINT NITAD TY 99 TADIY YT ANA YT 17719 IT Naya 'D |'y! DN Wa ANA TAN N'A |'2- 7719 WAND YT'N .("NY NI") pin") 1968 - NWN 732 NIN ANN YT 7IENN' PO ,O'073 OWN WW TI XUNA YT'N 1977 ,DITAINI DV'7W1 INI NTE '€ ONIWAANT WR ,OVTNY OY IN/1 O'VINNT ON"NAA NT “MAD |DIND AN NW! X7 WN 711INA NIDWa 9 197
Slide 3: Multifamily, Debt, Single Family, Hospitality, UK
MULTIFAMILY DEBT SINGLE FAMILY HOSPITALITY UK
Slide 4: Electra Real Estate at a glance
oT) ayona np natn oro ona an ‘yapn Wt oun ovine ana PIU TWIN E mown7 wt mawa7 o"py'D onan 4 MAN NAVIVORN ~ | 'DDJ1 NIY'pWN WAR NVA AYPWA NINWDV7DI NAP, 717! ANP NV'VPIWR |19'D - NIANNIN NINIWNI OY" DINAT ,O'NId'X DI.” O'YAT O'7721WAI DUNN OI od T9IN TI N'7373 aN'nyY TR'NIVID '7YI DDI '09) ‘niynwn nn
Slide 5: Activity overview
PST TWAIN Ee iit aoa Np neon ee o"9 ona ain mowi7 ail ‘apn wt wt mowiny ovina ono) D'UIIN onan anja JIVAIT D'WAT vy) ff 7Y NI7'Y9o same Vy07 O'D'wan m1nn 17973 PNA "INI Owls OMa'n 179W07 WT7 O19 pa 101 Soa WIN'N 'TYINA NIW'nd NNN" 0'DAN "03 Mi'niynwn ni7t3 YIN'T NNWONnT DIN NINoOY Av anANI ny" oxnAN
Slide 6: Key data and ESG
he 9001 np nai7n ow ona ain ‘yapn wt oT WR iM ovina DUNN ania mowi7 wt mowin7 o"D)'9. o'nian oDNDDNI ["7T) MVP7TR wee tm Ox 3(8)m 3386m w2.3B mani WT O'TmAl mMnv) CAP-7 103 11n 7IWAI NNN Ww)9A (2) ‘nyy | 10 ply nw o'7'uIn (2) Gnixa) 103 2023 NIW7 Signat« a Principles for PRI SQDEttco 16 34.88 $9.88
Slide 7: Strategy
ava na nin o"9 ona ("S71 MINE mown7 hs Inman wwni TNAN 7W 60-7 NYY TAA ANNI INIA VA 2"718I1 170INT WY win ‘ta 'niyawn nea7 Pwan nnwndl 71790 UW @nntpA Irn aN NA) ANA N7VID [711 Wawa Nyw nv'tmM 79W 7179 qwANd D'AINI O'990N OF XW O'99'NI 12 NI7NNAl nlanpa OW] 11'T TAI N72 WNW 1NA TY N79 TAI 103907 17'
Slide 8: Ownership and investor structure
ee? m0 np ni7n ovo o'nd "ST MINE mown7 IN AVIAp 129 D'VIA D391 tINAn 97% @ (CAP) nan R77 NWA 11 wy 3% anwn 17 mimn ayap I 47% 50% n77plwaa NINA Uy 5 1% @n191p1 D'DIN '0II1 . 0 ain 'yapn wt ovina DUN ania wt mowin7 oD) onan 19'WN TY7 D'D1n 'DIIJ1 JINI VWII'N 110 yw NINN 131NI e alll 53% I'l Wy'w 'DIJ
Slide 9: Portfolio by segment
PIT TWAIN Ee aa np (SFR) 0019 O'nI 199WN7 WI Pe 3,730 mowia7 o"019 o'nI 23 ni7'yo neonw 90% YYINN DION Wy (orox y7AN In“oW KONI, $1.1B Tyiwa [779 Ww $500M Twiwn |i $26.7M O'nd Wy in7iww NvITp'd. aw'd) o3500 nnn 2) © sr > & 8) @) niin o"9 ona mown7 ain | ‘apn wt wt mowin7 ovina op) D'UIIN onan anja @
Slide 10: Portfolio by region
oT) agonal np nai oro ona ain ‘apn Wt yin oie ana (ST TIRE mowa7 wt mowny oD! o'ninn WNW NVI N'TNI 139WN7 WTA pws nniyawn nindw 11n7 NIYPWA 71091 DVN DAN YATE PW NINN NIN hA!T MWONAD "TWIT 7n* 362 [1° nol Tn! 174 [5 - 71917'0I9 ina nyo Tn 353 [reir amy \ ; vne1aso re? N awe guna n° T'n' 648 [7° ana
Slide 11: UK and US assets
37) TINE 70a np niin. | ov o-NI mowny ain | a | mawn7 on DUN anja np)" onan oNwI7N VW 19D Np — DNATA NI7'yd 'ninn nui vy @ 7 ny \4 1w3 ah nrt3qn ony @ TN 0) nd Ty Mord awe ty —— ‘nxn D.C. was wit $367M a @ ypwin jin 1'0'11 |) la il yn 6,850 "70 now £26.5M (100%) aw‘ yNnA w3u 52 nd Ty <n't31n De a {1
Slide 12: Funds raised
IT TIA IR Ee © oy punnmanna © Co-investors / Joint Ventures = wR 01 TW! 462 400 400 MULTIFAMILY FUND II iam non (une 18-July 19) 1097 ANID 100% 12 awa na nin | wt mowin7 ‘apn o"9 ona wt ain | mowiy ovina ono DUN onan ania oon weeny 7"INI 7NW! D'90I0 "DIA ninnonn 980 500 41 = MULTIFAMILY FUND III ian
Slide 13: Provident Fund for Bank Leumi Employees
PROVIDENT FUND FOR BANK LEUMI EMPLOYEES
Slide 14: Section divider
DNA D'VPURN nit NON
Slide 15: Provident fund overview
15 IT MINE ava Np niin. O09 o'nI ain ‘apn wt on mowin7 wt moway pnp). — WT 'yapa7 Nya Npl oan Ty! neyn VT TANT nn AYN 7H pI 19 TY AANA IT 7y AD WR ANI 77a Apa D'Y'pwnn 2717 [1'7'N 435 -3 IT Np7 nv" MANA YI9nN7 NAN ADI "NN. ANT |. NNT) DN NITNI plynx ohn ana
Slide 16: Co-investors
16 S71 TIWIR E Ovni =] ee | aoa q7ani 7"1N) 7NAW "I O'09q "DI NinnonaA NTA DIDID TWIN7 TI |IVINA ait ern 45-5 ora a7 7764-3 01 D'7NWwW' oy'pwnan oD" NIN OYy'pwnn D'Dj'1d D'DD) 0"'N7 1D"WAN mM1nn N'NIIA NYA DA ,DA'niynwn AINpA NONI Co-Investors ™
Slide 17: Strategy
17 PST MAIR Ee 7 Qi Nipi7n VIN'1 oV71T 7 65 -3 NN pa 'y'pwn7 oyn'n ania onan -DITA DIDI TWin7 Wi waa TAN)
Slide 18: Key figures
57 awa na neon oro ona ain apn wt oun own PST TING mown7 wt mown7 o"Dy'D oenian MN'N1 NiypwW1 Ny nova anja nopwna ony uw nwa) NWI MwIN~®2023 799N wWIINI(_) = (100%) nivpIAA nw Ni7y C) 7W (100%) 7719 IW DI"ID7 (OnnA7 NAA NIN Nx Naina 4717 'D 13437 andnvv V7IT 'N 225 -3 ANT nin! 5,000 -3 Ty 7w nin'y7
Slide 19: Miami market
19 PAT MAINE myyaT Np iKa oy79 o-nI an ‘apn wt ound Oye ana mowa7 wt moway o"o'D pninn “MIAMI IS THE MOST IMPORTANT CITY IN AMERICA” Financial Times, 2022 DWIN 1,200 '-9 — 2022 NIWA T1111 #1 Yyinnd OF 792 171797 OFAIy 2023 'NN WTINA/ ANNI ATVANA Uy‘! 2.2% ("AAW yin 3.7%-3 nn’) WWI [WIAD 177N2 NINIW
Slide 20: Slide 20
Slide 21: Financial results 2018-H1 2023
mwa np nrg | oo ona an | ‘apn Ww ovina | yn ania IT TIA IR Ee mown7 wt mowin7 oo onan »2018-H1 2023 NI7YOA p71 N'apy 7n'ny NOI] ninnonn "DDI "HW NiNnoN ($ '7'N , 100%) (mw7n 1009 D'7IIN |" 77) 9.8 281 9.3 256 220 65 179 163 5 138 144 4.5 ; : ; 2018 2019 2020 2021 2022 Hi 2022 Hi 2023 2018 2019 2020
Slide 22: Assets under management
o"9 ona awa na mown7 371 TIWIR Ee | NI7NYI 7h" "NTN NipIjIn @ (W717 9V'7'NI AANA pn) GP-) nwW'91 mW) 7109 ‘nm Novy nn AWN AIAN NYA ANA (AUM) 7aUAA | 7 71! 7Y N71 D'DIII YNwWINA [lA 7Y O19) 711 NT naypwn ned'nana 15 9 8 8.8 5.4 18 3.2 = of |_| 2018 ©2019 §=2020 ©2021 + 2022 Hi 2022 Hi 2023 aenyo Tn A
Slide 23: Financial data
— muna na neon p19 o'NIA an 'vapn Ww ovina yn ania P37 TINE mowiy wt moway D0 o-nian rw seen) NINA "7Y17 WTI T Npi7n 40 40 40 20 20 12.2 L 3.2021 8.2021 2.2022 8.2022 3.2023 8.2023 7719 702 O'DT'2'T 11n7 p7'N NANA Nn onjw4 n’w yt'7'n 172 -3 yw
Slide 24: The View, Fort Worth, TX (Fund II)
The View, Fort Worth, TX (Fund II)
Slide 25: Multifamily fund performance
oT) awa na neon o"y79 ONT ain ‘apn wt vin oir ana ITT Ee mow? tr mowin7 DoD onan oNI7'Y9D [in Np DIVUD 100% 39% 2.38X | 23.8% | 93% | $432M Gan ey $2.38 | $400M | $462M 100% 29% 1.7X | 25.5% | 25% $245M | 13,369 Al $2.5B $41M | $980M TaN a0 910 M90 2021 "71" 75% 10% - - 1% $8M 8,181 a $1.88 | $82M |
Slide 26: US migration trends
26 IT TIA IR Ee wy 1701 o'vIn) on VAI ‘nym am NID WIN awa na neon o"y79 ONT ain ‘apn wt oun own ana mown7 wt mown7 onoD onan 1190 INI N07 O'D"WAN VNR NITN-ONT7I 11NA 7H NITY Pw m0 nn ann yw 0) nonin a'y7I Landlord Friendly 78 DOITNI W777 D911 DWI DAY na On Moving to Moving from @ Data unavailable So
Slide 27: Cost of owning versus renting
27 a0 Np neon | O09 o'nI ain | "apn wt ovina | OVIIN anja 371 TIRE mow nr mowiy o"D'D o"nian AWTIN 11'T DW DI7WNN $1,000 7Y9NI I NYYINA D‘WTn XnNIIwW”N DI7WN D'7TA D'9710 D'9p9'I NWI D1N7 N'1 ‘pwn v'oni more expensive to $1,000 own than to rent cheaper to own than to rent Source: John Burns
Slide 28: Housing starts
28 IT TIA IR Ee awa na neon o"y79 ONT ain ‘apn wt oun own ana mown7 wt mown7 onoD onan 7117 0N'1 1340 NI7NNA 7p! ON N31 7H VN WWY INN7 YVT7 Wip'da ['1 W901 NPAYA7 UNI! ,PION WIN [TY W'DI7IING @Niv'T ["7'N 7.8 -3 '7Y Di TAL WR 1980-2022 W'N 7N7 DON'T ONT 1" Ni7ANA Aon DANA 9p" 7Y yn) On TW OITIN TTT
Slide 29: Rent to income
29 a0 np nin | O09 o'nI ain | ‘apn wi ovina | OVIIN anja P37 TINE moway Wt maw ovpu'D onan 103907 NIVIWa NT ON! TY7 ,D'NI DIY NI7Y7 PwWAN 11'TH 13W D'V'NN NE7Y PWN TAIN N11 WN WR Nyyinn (Rent To Income) 3"79NI NY!'NN 10I9A 71 7X 11'T Dw ON! J"9N3 WT 'N3pN3 TDW 7174) @ Average Rent 2010 201 2012 2013
Slide 30: Rent forecast
30 ST TIAN Ee aon np nro oro ona ain ‘vapn wt on oynn ana mown7 wt mown7 o"oD onan VPN WVI [Ia uy'w ,CBRE nn nidqwa7 oxnn1 19" - WPA ANNA NN !NNA7 OY WT 2"79N2 WT 'Y9903 yYInnA [aA yw Forecast zu rug
Slide 31: Occupancy and same store NOI
a0 np nin | O09 o'nI ain | ‘apn wi ovina | OVIIN anja 371 TIWIR Ee mow a mowiy oD oenian "TA UVP ANAL 'pJa "71Y9ONT NIN WANN 7174 WOND 'VINPNIL 7'VY" 7113 D'DII0 NW 7¥ NIN N7y NiyowA7 ‘niynawn fe) 1nd aD Tool 94%-> 98.4%. 6%-> Nyyinn n'nj nvion YNINN NVA 1") Wy 17'T7 19WI YxIAN 7179 "7190197 'DIJ1 7
Slide 32: Value add projects NOI
a0 np nin | O09 o'nI ain | ‘apn wi ovina | OVIIN anja P37 TINE moway Wt maw ovpu'D onan pPIW 'NIN 731 Wy W"'Nn ,(Value Add) 'poOYA 7TINA 7H N7xIN OW" 2 | 3 11) @ 4 1p Vintage: June 2018 Vintage: Dec 2019 Vintage: May 2022 win'n nojnt mnawn noinla nw'97 noipn1a 90M 110M 60M +48% +46% wy 80M 95M. 55M
Slide 33: Wits, £L ef OW ey) aes fs
Wits, £L ef OW ey) aes fs J ~ / ~* y / = / > / a7 WT {fi}, i A fl i if | \ i ) | | | j / | AY) ae oT a
Slide 34: Fund performance
mowi7 wt mowia7 o"p'9. onan oM7'YD 1IN Nip DIVUD niga m9v01 np miagi7n o"w19 ona ain ‘yapn wt oun ovine ania oT) NS oe : 11InNp 100% | 87% | 1.24X | 12.3% | 40% | $115M rae ais $226M | $18M Taiwan a9 moi 40 2021 "71" 211N | 48% 85% 1.07X | 8.6% 8% $16M_ | 5,952 20 $193M | $9M mMIWNI 40 2022 7719N ¥N
Slide 35: The Oakwood, Sarasota, Florida
The Oakwood, Sarasota, Florida
Slide 36: Market capital and dry powder
36 ii, aypna np navn oye ona aun ‘apn Ww pov mR e iy | oviny | oy ania mowi7 wt mowi7 op onan NININ O'PII0 'T!-7Y [INNA NNIN Nnwpn DVI |IN'N "D131 DX 1'IN7 [DINA ,VIDI WT 'NApN [1N'N71 [77 10997 [INT 'NIN NX N'wWp7 O'D'waAN O'9I10 D'V'VIW7R JIN'N 'D10 'T'-7Y [ld NN7WA WIN7 O'Wip'da nw 7y INN TW O'NP
Slide 37: Slide 37
Slide 38: Single Family Rental
msvna np nai De ona an ‘yapn wt oun | on ana 12W07 0'079 O'n1 w Single Family Rental rm |_SLIB oyun [S500M Seeds | PO% isinsle=o 28 @nw'd O30n nnn o'na W371) Way in7iww NVITp'd $26.7M oui ona 3,730 O50n nnn o'900 on. 1 053 37-1 niy'mn 1 i @nw'd7 W"N1 OW. mayna oii win7 ) 30,06.2023.01'7 (2) DIN 24-9
Slide 39: Age demographics
24M 23M 22M 21M 20M 19M 18M 15-19 20-24 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-64 65-69
Slide 40: AKA West Palm Beach, Miami
AKA West Palm Beach, Miami
Slide 41: AKA hospitality properties
$745M AKA Nomad AKA Alexandria AKA Brickell Alexandria, VA Miami, FL NYC, NY $725M $367M AKA West Palm AKA Washington Circle AKA Boston Back Bay 07 Washington, D.C. Boston, MA West Palm Beach, FL 1,340 AKA Boston Common Boston, MA
Slide 42: Hospitality market
3 5 42 aon np norm o"19 ona ("S71 MINE mowi7 OW] [1Y1'97 NTA VI NINU7A 7 OI) O'D79' ,7'1pNnI ndV O'9'N OY VPA! ONIN ON WAN WR ON ONI7N TY7 MANA mw NATTA We? Wwyw WT NIN N30 40% 35% 30% 25% 20% 1596 10% 5% 0% 2023 2024 2025 2026 2027 AFTER 2027 Source: Colliers ovnn ain onan ‘yapn wt anja mowin7 ovin
Slide 43: AKA Nomad NYC, AKA Alex VA
43 (ST TIRE aon np nro ono ona. mown7 ain wt mowi7 ovina ovnn ana oD onan 'I'70N mWnaAwAil In7WIn TNN WANA NUI7N 1YAW AKA NOMAD, NYC AKA ALEX, VA
Slide 44: AKA Brickell and AKA WPB
—_ ayona na oie ona an ‘apn wt oni oyin anja Pov WSR nm f mown7 wt mowa7 oD onan 'I'70N mWnaAwAil In7WIn TNN WANA NUI7N 1YAW AKA BRICKELL, Miami AKA WPB, Miamia <l17 1707 (micro unity NNT NADA.WIN DD YY)
Slide 45: ("777 NY pPWA7 N' NATTA Np
Ti ("777 NY pPWA7 N' NATTA Np mJV' 1141 See te fibeyt™ ; ve gies @ L rr |
Slide 46: UK investments
oT) awa np norm o"v79 ONT ain ‘apn wt vin oir ana Pom mwARe mown? 1 mowin7 DoD onan Seed 'D9J DIVUD 1901 Np non oon 2 ‘iit yn 6,850 woo) aw>r von £26.5M SS nym yiow niy f12.9M Sz 16 Kirby, London 35 Newhall, Birmingham 2023 YIN — M97 Win 2022 YIN — AWN) TIN v's ren 9— aw nn v'w'7 een 17.5 — aw nA vi
Slide 47: 16 Kirby, London
47 IT TIA IR Ee neat o"19 ona awa np mown7 25%-3 7 Uy'wa NOl-a 71797 7'4I DIT PID" In“7y qwad7 ‘ox ay awa on wi ound | anja ovnn mowi7 oD onan nnawa y'70n 16 Kirby, London ‘TIN O1'NI 2022 YIN WTINA WIV 0IIN TIIND [1772 17.5 7Y NI7YAL |ITIN7I. ‘JD 7Y D'DINDA ,1’N 1,900-9 NI DIIN NUW Ninh 5 -2:7Y [pd
Slide 48: Thank you