QRF Comm. VAEURONEXT: QRF

Presentation H1 2024 Results

· Issued by QRF Comm. VA

Key figures

  • Reduced debt ratio from 52.19% to 43.65% (-900bps) without forward investment commit
  • 100% hedging ratio on average till mid-2027 and predictability of financial costs
  • Increase dividend to 0.84 EUR per share (+5.00%)

On 6ix: 6ix.com/news/qrf-presentation-h1-2024-results

Half Year Results

2024

Transformative realisations in 2024 H1...

1• Sale of Pelican BV (30% joint venture) for 10.60 MEUR (+72.86% vs latest FV); 15.13% IRR

2• Sale of the Dutch real estate portfolio at Fair Value for ˜20 MEUR

3• Sale of out-of-townasset 4.71% above Fair Value for 6.00 MEUR

4• Long-term lease for Ardeno (30% Qrf), with estimated impact of 0.05 EUR per share in 2024

... have significantly reduced risk profile and increased income potential

  • Reduced debt ratio from 52.19% to 43.65% (-900bps) without forward investment commit
  • Increased EPRA NTA +0.49 EUR per share
  • 100% hedging ratio on average till mid-2027 and predictability of financial costs
  • No negative EPRA P/L per share impact expected
  • Increase dividend to 0.84 EUR per share (+5.00%)

2

3

Belgian Real Estate Investment Trust (BE-REIT)

Listed on Euronext since 2013, reference shareholder (30%) since 2019

Invest, redevelop and rent out commercial properties in dominant cities in Belgium and The Netherlands

216,56 MEUR in real estate assets, of which 8,4% are currently in redevelopment

Active and opportunistic diversification strategy towards mixed-use real estate assets and balanced portfolio of retail, culture and leisure tenants

4

Brugge (BE) - state archives

Acquired 2020

Portfolio statistics

6

216.56 MEUR real estate assets in Belgium

"Main Six"-cities

Gent

23%

Antwerpen

20%

Hasselt

16%

Brugge

10%

∑ 69%

9%

91%

As a percentage of Fair Value of real estate assets, including redevelopment

7

projects (both fixed assets and financial assets)

Diversified tenants across sectors and counterparties

13,0%

Top 10 represent 64,20% of Rental Income

(in % of Contractual Rents)

8,9%

7,0% 6,8%

6,2%

5,3%

4,4% 4,3% 4,2% 4,0%

Regie Der Gebouwen

Galeria Inno

The Sting

Casa International

H&M

Kruidvat

Hema

Just retail

Stellantis & You

Nike

4.86%

5.47% 3.82%

2.49%

7.78%

8.81%

27.35%

9.53%

13.02%

13.29%

Fashion

Department Store

Culture

Beauty & Care

Interior & Decoration

Shoes

Leisure

Car

Food

Convenience Store

Services

Residential

8

Maintaining high occupancy rate as a key driver for EPRA

99,74%

99,35%

99,01%

99,24%

98,90%

98,45%

98,02%

98,20%

97,59%

97,32%

97,39%

30/06/2019

31/12/2019

30/06/2020

31/12/2020

30/06/2021

31/12/2021

30/06/2022

31/12/2022

30/06/2023

31/12/2023

30/06/2024

Occupancy rate excluding redevelopment projects

9

Korenmarkt 1, Gent - acquired on 30 December 2022 for 21 MEUR, representing 1,87 MEUR rental income

H1 2024 Highlights

10

QRF Comm. VA on 6ix

Earlier from QRF Comm. VA

Later from QRF Comm. VA

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