First Half 2023

July 27th, 2023

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NEITHER THIS DOCUMENT NOR ANY OF THE INFORMATION CONTAINED HEREIN CONSTITUTES AN OFFER OF PURCHASE, SALE OR EXCHANGE, NOR A REQUEST FOR AN OFFER OF PURCHASE, SALE OR EXCHANGE OF SECURITIES, OR ANY ADVICE OR RECOMMENDATION WITH RESPECT TO SUCH SECURITIES.

2

Agenda

01 Highlights - Pere Viñolas, CEO

02 Financial performance - Carmina Ganyet, CCO

03 Portfolio and Pipeline - Carlos Krohmer, CCDO

04 Future Growth & Conclusion - Pere Viñolas, CEO

Pere Viñolas

Carmina Ganyet

Carlos Krohmer

Chief Executive Officer

Chief Corporate Officer

Chief Corporate

Development Officer

3

01 Highlights

Our Performance

1

Double Digit Growth in

EBITDA & EPS

2

Strong Letting Volume &

Outstanding Occupancy

3

Rental Growth &

Pricing Power

4

Resilient

Valuation

5

Disciplined Capital

Structure

  • +18% EBITDA growth reaching €152m (vs €129m in 06/2022)
  • +14% growth of recurring EPS reaching €cts16 per share
  • Close to 100,000 sq m signed YTD equivalent to €43m annualized rents
  • Group occupancy at outstanding 97%, Paris fully let at 100%
  • International consultancy firms and luxury brands leading tenant demand
  • Contracts signed in Q2 with +7% ERV Growth1 (Paris +11%)
  • Acceleration of rental growth and solid capture of indexation
  • Colonial's low carbon assets attracting high quality tenants at maximum rents
  • Gross Asset Value -3%like-for-like in the last six months
  • Value creation through projects & ERV growth partially offsetting rates impact
  • 57 bps cumulative yield expansion since June-22 (67 bps in Paris)
  • Flight to quality through disposals: €550m divested YTD at appraisal value
  • Operating Portfolio Net Debt/ EBITDA with significant improvement YTD
  • Hedging strategy ensuring interest rates below 2.5% in the long term

(1) Offices rents signed in 2Q 2023 vs 12/22 ERV

4

01 Highlights

European office Market vs US

EUROPE AND US: FUNDAMENTAL DIFFERENCES IN THE PERFORMANCE OF EACH REGION

Post pandemic

office re-entry rate

1Q 2023 net absorption vs.10- year average

  • quarters with positive net absorption since 1Q 2020

1Q 2023 office vacancy rate

EUROPE

73%

Paris 85%

Madrid 80%

+1.4 m sqm

9

7.6%

US

50%

-2.1 m sqm

2

20.1%

Source: <>- JLL, Thursday 6th July 2023

5

Attachments

Disclaimer

Inmobiliaria Colonial SOCIMI SA published this content on 27 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2023 17:20:30 UTC.