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Investor Presentation 27 August 2026 half year update 2026. green. and more.smart.
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DISCLAIMER This presentation was prepared by UBM Development AG (the "Company" or "UBM Development") solely for use at investors’ meetings and also includes oral statements made at the investors’ meetings and any material distributed in connection with this presentation (together the "Presentation"). The Presentation is furnished to you solely for informational purposes. This Presentation dates as at 27.08.2026. The facts and information contained herein might be subject to revision in the future. Neither the delivery of this Presentation nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been and will be no change in the affairs of the Company since such date. None of the Company or any of its subsidiaries or any of its shareholders or any of such person's directors, officers, employees or advisors nor any other person makes any representation or warranty, express or implied as to, and no reliance should be placed on, the accuracy or completeness of the information contained in this Presentation. None of the Company or any of its subsidiaries or any of its shareholders or any of their directors, officers, employees and advisors nor any other person shall have any liability whatsoever for any loss howsoever arising, directly or indirectly, from any use of this Presentation. The same applies to information contained in other material made available at such investors' meetings. This Presentation is selective in nature and is intended to provide an introduction to, and overview of, the business of the Company. Wherever external sources are quoted in this Presentation, such external information or statistics should not be interpreted as having been adopted or endorsed by the Company as being accurate. This Presentation contains forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which the Company operates. These statements generally are identified by words such as "believes" ,"expects" ,"predicts" ,"intends" ,"projects" ,“plans" ,"estimates" ,"aims" ,"foresees" , "anticipates" ,"targets" ,and similar expressions. The forward-looking statements, including but not limited to assumptions, opinions and views of the Company or information from third party sources, contained in this Presentation are based on current plans, estimates, assumptions and projections and involve uncertainties and risks. Various factors could cause actual future results, performance or events to differ materially from those described in these statements. The Company does not represent or guarantee that the assumptions underlying such forward-looking statements are free from errors nor do they accept any responsibility for the future accuracy of the opinions expressed in this Presentation. No obligation is assumed to update any forward-looking statements. By accepting this Presentation you acknowledge that you will be solely responsible for your own assessment of the market and of the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the Company‘s business. disclaimer. 27.08.2026UBM Development AG – Investor Presentation
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h1/2026. summary. 1 turnaround solidified. significant earnings swing before and after tax in h1. 2 resi boom continues. more than 200 premium apartments sold in h1. 5 solid financials. equity ratio above target range. net debt below € 475 m. 6 outlook. affordable housing is the next big thing. 27.08.2026 3 affordable housing. we walk the talk. pilot project in vienna. 1 SUMMARY 4 strategic sales program. first assets sold. at or above book value. UBM Development AG – Investor Presentation
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-60 -40 -20 0 20 40 60 2020 2021 2022 2025 H1 2026 RECAP H1 1 turnaround solidified. earnings swing before and after tax. Earnings before tax in €m ▪ Positive EBT and net income ▪ First assets sold ─ at or above book value ▪ Revenue momentum prevails (+36%) HY 2026 HY 2025 HY 2024 Earnings before tax €7.3m €-5.8m €-10.9m Earnings after tax €6.3m €-6.6m €-12.5m Revenue €81.2m €59.6m €42.9m 2023 2024 2 promised and delivered. successful execution of strategy. 27.08.2026 -5.8 7.3 HY 2025 HY 2026 Y/Y improvement UBM Development AG – Investor Presentation +€13.1m first half earnings swing Y/Y from −€5.8m (H1 2025) to +€7.3m (H1 2026).
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resi boom continues. record repeated. units sold 51 97 208 208 H1 2023 H1 2024 H1 2025 H1 2026 * purchase price per sqm increased since launch by ~ € 1000 3 Na Plzence · Prague price increase +20%* 2 RESIDENTIAL matching last year’s record ─ the boom holds. 27.08.2026 3 + 91 units order backlog Village im Dritten · Vienna • BF 2 — sold by 30 June 67% • BF 9B — sold by 30 June 64% LeopoldQuartier · Vienna premium living at its finest • BPL C — almost sold out with 87% • BPL D — sold by 30 June 29% • BF 11A — almost sold out with 99% UBM Development AG – Investor Presentation • BF 5 — sold by 30 June 55% • Phase I — almost sold out with 97%
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affordable housing. we walk the talk. (1/2) Affordable housing – element construction* new way of thinking, no stripping of quality 3 AFFORDABLE HOUSING pilot project in Vienna. 92 apartments with pre-fab elements. expected reduction in construction time by 30%. 4 27.08.2026UBM Development AG – Investor Presentation wall facade elements (with pre-installed windows and outside shading) instead of re- inforced concrete with thermal insulation of € 1.70 - € 1.90 per sqm (due to hot water by balcony PV and heating/ cooling by heat pump) * as offered by PORR Living central, pre-installed home technology timber frame low operating costs systems empty conduit cabling with plug-in kitchen, bathroom,BUS system, curtain- and power tracks included piping and electricity unit
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affordable housing. we walk the talk. (2/2) feasible land purchase prices* based on rent and household income €/m² 1.981 1.876 1.641 1.576 1.494 1.433 1.091 955 919 913 907 794 779 724 676 2.610 1.911 1.794 2.111 1.197 1.435 1.140 1.854 1.745 1.110 1.241 1.709 1.371 1.917 1.997 0 400 800 1200 1600 2000 2400 2800 Munich* Innsbruck* Vienna* Salzburg Frankfurt Hamburg Berlin* Stuttgart Klagenfurt Freiburg Heidelberg Düsseldorf Mainz* Linz Graz* rent based justified land price * cities where UBM is currently developing residential projects 3 AFFORDABLE HOUSING affordable housing is a question of local rents and incomes, not of cheap land. 5 27.08.2026 household income based justified land price UBM sample calculation land price €850/m² UBM Development AG – Investor Presentation *sources are shown on chart 32
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strategic sales programme. successful start. SOLD ✓ S T A N D I N G A S S E T Ekazent Paket 6 Vienna & the greater Vienna area leasehold rights to various commercial properties (partial sale) + €11m cash to UBM (€10m in Q2 + €1m in Q3) SOLD ✓ N O N- S T R A T E G I C Landbank Styria + €10m cash to UBM (€ 5m in Q3/26 + € 5m in Q1/27) 4 4 SALES both assets sold at or above book value. 27.08.2026 6 €10m volume (closing in Q3/26 – 100% UBM ownership)€34.8 m volume (50% UBM ownership) UBM Development AG – Investor Presentation
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solid financials. equity ratio above target range. equity & equity ratio (€m / %) 380 361 344 351 350 374 30.3 30.4 29.1 30.1 32.1 36.7 0 10 20 30 40 0 100 200 300 400 FY/23 HY/24 FY/24 HY/25 FY/25 HY/26 Equity (€m) Equity ratio (%) net debt & loan-to-value (€m / %) 610 546 546 546 527 475 49 46 46 47 48 46 0 15 30 45 60 0 200 400 600 FY/23 HY/24 FY/24 HY/25 FY/25 HY/26 Net debt (€m) LTV (%) 36.6% equity ratio — above the 30–35% target range €475m net debt — down from €546m Y/Y 46.5% LTV* — due to active deleveraging 5 FINANCIALS strong equity ratio. proactively managed leverage. 27.08.2026 7 UBM Development AG – Investor Presentation *defined as net debt to total assets
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outlook. affordable housing is the next big thing. > 100,000 m² of potential for Affordable Housing from owned properties6 AT Austrian rental market1,2 • +7% Vienna rent rise expected in 2026 (+5% in Austria) • traditional rental market – 77% of all apartments in Vienna are rental units • only 2,254 freely financed rental units expected in Vienna 2026 (50% of 2022) DE German rental market3,4 • shortage of 1.4m apartments, growing +200k / year • number of listings in the top-18 cities 18% below 2022 • €23bn government social-housing program promised by 2029 1EHL, Wiener Wohnungsmarkt 2026 (est.) 2Erste Group, Wohnstudie 2025 3Neuwirth Finance, 21/07/2026 4L. Klingbeil, Tag der Bauindustrie 07/05/2026 5Statistik Austria / BBSR, 09/06/2026 6rentable area in Austria, Poland and Germany 6 OUTLOOK affordable housing targeted for sale to institutional investors. 27.08.2026 8 UBM Development AG – Investor Presentation rents rising steadily — rent index⁵ 100 110 120 130 2023 2024 2025 2026e Austria Germany
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backup. ▪ backup h1 presentation. development pipeline. standing assets. non-strategic assets. financials. portfolio rebalancing. ▪ real estate paradox. real estate paradox. ubms answer. resi answer: viktor-kaplan straße. office answer. hotel answer. co2 answer. ubm at a glance. timber construction. investor relations. 10-33 10 11 12-13 15-23 25-33 34 -45 35 36 37-43 44 45 46-47 49 50 51-53
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backup. pipeline. non strategic assets.
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Project Asset class Apartments/Rooms/GFA* Share Hybrid timber Completion Status LeopoldQuartier D, Vienna Residential 178 apartments 100% Yes 2026 Partial sale Village im Dritten, Vienna Residential/Office 492 apartments 51% No 2026 Partial sale Na Plzeňce Phase I, Prague Residential 164 apartments 100% No 2027 Partial sale Thulestraße 48, Berlin Residential 78 apartments 47% Yes 2028 Partial sale Viktor-Kaplan Straße, Vienna Residential 92 apartments 50% No 2028 Unterbibergstraße, Munich Residential 106 apartments 100% Yes 2029 Timber Living, Munich Residential/Retail 266 apartments 100% Yes 2029 Reservations Na Plzeňce Phase II, Prague Residential 130 apartments 100% No 2028 LeopoldQuartier B, Vienna Residential/Hotel 244 apartments/245 rooms 100% Yes 2028 Amras, Innsbruck Residential 130 apartments 50% Yes 2029 Sternäckerweg, Graz Residential 21 apartments 100% Yes 2028 Andritzer Reichsstraße, Graz Residential 42 apartments 100% No 2028 Timber Factory, Munich Light Industrial & Office 55,200m² 60% Yes 2031 Conceptual phase Timber Marina Tower, Vienna Office 46,600m² 100% Yes 2031 Conceptual phase PIPELINE 11 28.05.2026 *Gross Floor Area development pipeline. premium.
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Asset Asset class Rooms Share Completion Brand Sugar Palace, Prague Hotel 176 rooms 60% 2022 Andaz Hotel Kneuterdijk, The Hague Hotel 204 rooms 100% 2021 Voco Hotel Moskauer Straße, Düsseldorf Hotel 455 rooms 50% 2023 HIEx Hotel am Kanal, Potsdam Hotel 198 rooms 50% 2023 HIEx “Das Tirol” , Jochberg Hotel 155 rooms 50% 2011 Kempinski STANDING ASSETS Asset Asset class GFA* Share Completion Occupancy Poleczki Business Park, Warsaw Office 58,800m² 51% 2010 95% Timber Pioneer, Frankfurt Office 17,600m² 75% 2025 77% LeopoldQuartier A, Vienna Office 28,800m² 50% 2025 48% Timber Peak, Mainz Office 9,500m² 100% 2026 23% Village im Dritten 9A , Vienna Office 7,500m² 51% 2025 31% HAVN, Mainz Office 1,600m² 100% 2025 0% 12 28.05.2026 *Gross Floor Area standing assets. for sale.
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Asset Asset class Apartments Share Completion Sold HAVN, Mainz Residential 44 apartments 100% 2025 23 apartments Adler Lodge, Kirchberg Residential 17 apartments 100% 2024 3 apartments STANDING ASSETS & NON-STRATEGIC ASSETS non-strategic assets. for sale. Project Asset class Apartments/GFA* Share Status Timber View, Mainz Residential 184 apartments 100% For sale Molenkopf, Mainz Residential 108 apartments 100% For sale Klanovice, Prague Residential 90 single family homes 100% For sale Klaus-Groth-Straße, Hamburg Residential 100 apartments 100% For sale Timber Works, Munich Office 9,700m² 100% For sale Timber Port, Düsseldorf Office 11,800m² 100% For sale Colmarer Straße, Frankfurt Office 12,100m² 100% For sale 13 28.05.2026 *Gross Floor Area standing assets. for sale.
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backup. financials.
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Bricks, glass & other Management fees 1 Total Output corresponds to the revenue generated by fully consolidated companies and companies consolidated at equity as well as the sale proceeds from share deals, each in proportion to the stake held by UBM. 2 Net debt equals current and non-current bonds and financial liabilities, excluding leasing liabilities, minus cash and cash equivalents. 3 Earnings per share after the deduction of hybrid capital interest. Key Earnings Figures (in € m) 1-6/2026 1-6/2025 %Δ Total Output 179.9 140.3 28.2 % Revenue 81.2 59.6 36.2 % EBT 7.3 -5.8 >100 % Net result (before non-controlling interests) 6.2 -6.6 >100 % Key Asset and Financial Figures (in € m) 30 Jun 2026 30 Jun 2025 %Δ Total assets 1,021.5 1,092.3 -6.5 % Equity 373.6 350.2 6.7 % Equity ratio 36.6% 32.1% 4.5 PP Net debt² 474.6 527.6 -10.0 % Cash and cash equivalents 84.4 117.7 -28.3 % Key Asset and Financial Figures (in € m) 30 Jun 2026 30 Jun 2025 %Δ Earnings per share (in €) 0,10 -1,32 >100 % Share price (€) 17.05 21.00 -18.8 % Market capitalisation (in €) 127.4 156.9 -18.8 % Staff 188 218 -13.8 % FINANCIALS key performance indicators. 28.08.2025 15
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Bricks, glass & other Management fees Total Output Revenue in € m 179.9 6.2 42.6 21.2 76.1 81.2 Rentals Hotel operations2 General contracting & project management Proceeds from sale of properties 12.9 65.2 1.3 2.0 FINANCIALS total output and revenue. bridge. 28.08.2025 1 Total Output corresponds to the revenue generated by fully consolidated companies and companies consolidated at equity as well as the sale proceeds from share deals, each in proportion to the stake held by UBM. 2 Due to the deconsolidation of UBM hotels Management GmbH 16 1
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Bricks, glass & other Management fees in € thousands 3.2 18.5 7.6 29.3 4.4 22.6 Total Output by region 1-6/2026 1-6/2025 %Δ EBT by region 1-6/2026 1-6/2025 Germany 20,147 23,118 -13.0% Germany -2,808 -8,289 Austria 65,607 56,723 15.7% Austria 15,974 4,888 Poland 50,747 22,213 >100% Poland -5,486 119 Other 43,362 38,277 13.3% Other -354 -2,515 Total 179,862 140,331 28.2% Total 7.326 -5,797 Total Output by asset class 1-6/2026 1-6/2025 %Δ EBT by asset class 1-6/2026 1-6/2025 Residential 66,804 66,819 0.0% Residential 10,461 626 Office 35,244 16,201 >100% Office -492 -2,712 Hotel 42,823 43,150 -0.9% Hotel -10,230 -5,573 Other 18,673 3,105 >100% Other 2,785 -1,355 Service 16,319 11,056 46.8% Service 4,802 3,219 Total 179,862 140,331 28.2% Total 7,326 -5,797 FINANCIALS total output and EBT . segment reporting. 28.08.2025 17
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Bricks, glass & other Management fees 3.2 18.5 29.3 4.4 22.6 in € thousands 30 Jun 2026 31 Dec 2025 %Δ Non-current assets Intangible assets 1,459 1,581 -7.7% Property, plant and equipment 8,512 8,474 0.4% Investment property 282,165 276,216 2.2% Investments in companies accounted for at equity 100,045 106,779 -6.3% Project financing 186,588 204,746 -8.9% Other financial assets 20,645 20,139 2.5% Financial assets 312 201 55.2% Deferred tax assets 896 896 0.0% 600,622 619,032 -3.0% Current assets Inventories 265,035 301,249 -12.2% Trade receivables 32,618 17,326 88.3% Financial assets 21,650 29,735 -27.2% Other receivables and current assets 7,317 7,222 -1.3% Cash and cash equivalents 84,362 117,693 -28.3% Assets held for sale 9,896 - - 420,878 473,225 -11.1% Total assets 1,021,500 1,092,257 -6.5% FINANCIALS balance sheet. assets. 28.08.2025 18
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Bricks, glass & other Management fees 3.2 18.5 29.3 4.4 22.6 FINANCIALS balance sheet. equity & liabilities. 28.08.2025 in € thousands 30 Jun 2026 31 Dec 2025 %Δ Equity Share capital 52,305 52,305 0.0% Treasury shares -2,594 - 2,594 0.0% Capital reserves 99,887 100,984 -1.1% Other reserves 76,585 74,077 3.4% Mezzanine/hybrid capital 146,703 124,782 17.6% Equity attributable to owners of the parent 372,886 349,554 6.7% Non-controlling interests 720 635 13.4% 373,606 350,189 6.7% Long-term liabilities Provisions 6,421 6,097 5.3% Bonds 238,659 238,344 0.1% Current financial liabilities 192,920 210,796 -8.5% Other financial liabilities 1,779 1,576 12.9% Other liabilities - - - Deferred tax liabilities 5,659 5,887 -3.9% 445,438 462,700 -3.7% Short-term liabilities Provisions 4,734 4,959 -4.5% Bonds and promissory note loans - 79,626 - Financial liabilities 148,986 137,997 8.0% Trade payables 12,541 24,863 -49.6% Other financial liabilities 24,573 13,836 77.6% Other liabilities 5,423 9,182 -76.8% Tax liabilities 6,199 8,905 -30.4% 202,456 279,368 -28.7% Total liabilities and equity 1,021,500 1,092,257 -6.5% 19
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Bricks, glass & other Management fees 3.2 18.5 29.3 4.4 22.6 7,265 9,602 6,394 1,812 5,044 in € m 527,606 67,485 467,386 485,194 25,760 474,632 1 Incl. advance payments (IAS 2) and PoC IFRS 15 valuations 2 Operative cash flow after working capital and before interest/taxes 3 positive cashflow effects as a result of repayments arisig from reductions in at equity investments 4 Contribution of Genussrechtskapital Net debt 31 Dec 25 Sales proceeds1 Operat. CF2 Net debt I Hybrid Coupon (net) Interest (net) Tax Net debt II Project financing in at equity (net)3 Hybrid & Others4 Net debt 30 June 26 FINANCIALS 27.08.2026 20 20,242 cashflow. net debt reconciliation. Investments in Projects
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Bricks, glass & other Management fees 3.2 18.5 29.3 4.4 22.6 FINANCIALS cash flow. net debt reconciliation. 27.08.2026 Sales Proceeds Operating CF incl. WC Dividends (net) Interest (net) Tax (Income Tax) Investments Other Net debt neutral Profit/Loss for the period 6,247 8,059 -1,812 Depreciation, impairment & reversals of impairment on fix & fin. Assets -6,414 -6,414 Interest income/expense 5,755 5,755 Income from companies accounted for at equity 3,957 3,957 Dividends from companies accounted for at equity 16,268 16,268 Increase in long-term provisions 324 324 Deferred income tax -221 -221 Operating cash flow 25,916 0 27,728 0 0 -1,812 0 0 0 Increase/decrease in short-term provisions -136 -136 Increase/decrease in tax provisions -2,706 -2,706 Losses/gains on the disposal of assets 2 2 Increase/decrease in inventories 35,684 50,579 -9,291 -5,605 Increase/decrease in receivables -12,059 4,712 -10,986 -5,785 Increase/decrease in payables -11,876 -11,876 Interest received 377 377 Interest paid -6,771 -6,771 Other non-cash transactions 2,143 2,143 Cash flow from operating activites 30,574 55,291 -7,265 0 -6,394 -1,812 -11,389 2,143 0 Proceeds from sale of intangible assets 0 0 Proceeds from sale of property, plant and equipment & investment property 48 48 Proceeds from sale of financial assets 220 220 Proceeds from the repayment of project financing 22,479 22,479 Investments in intangible assets - - Investments in property, plant and equipment & investment property -8,503 -8,503 Investments in financial assets -350 -350 Investments in project financing -5,509 -5,509 Payments made for the purchase of subsidaries less cash and cash equivalents - - Cash flow from investing activities 8,385 268 0 0 0 0 8,117 0 0 Dividends -9,602 -9,602 Dividends paid out to non-controlling interests - 0 Proceeds from promissory note loans - Proceeds from bonds and notes - Repayment of bonds and notes -79,690 -79,690 Increase in loans and other financing 29,046 29,046 Repayment of loans and other financing -37,402 -37,402 Contribution from financing activities - Cash flow from financing activities -72,102 0 0 -9,602 0 0 0 25,546 -88,046 Cash flow from operating activities 30,574 55,291 -7,265 0 -6,394 -1,812 -11,389 2,143 0 Cash flow from investing activities 8,385 268 0 0 0 0 8,117 0 0 Cash flow from financing activities -72,102 0 0 -9,602 0 0 0 25,546 -88,046 Change to cash and cash equivalents -33,143 55,559 -7,265 -9,602 -6,394 -1,812 -3,272 27,689 -88,046 Cash and cash equivalents as of 1 Jan 117,693 Currency translation differences -188 -188 Cash and cash equivalents as of 31 Mar 84,362 Tax paid -1,812 55,559 -7,265 -9,602 -6,394 -1,812 -3,272 27,501 -88,046 21
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3.2 18.5 29.3 1 Data as of 30 June 2026 for fully consolidated companies 2 Excluding leasing liabilities 3 Including bearer bonds and promissory note loans 4 €65m hybrid step-up in 2030, € 56.4m hybrid capital step-up in 2031, €25m profit participation capital no step-up Annual Debt Maturity Profile in €m1 4 Group Debt Structure1 Average Cost of Debt: 5.75% p.a. Long- & Short-Term Financial Liabilities: € 320.6m 2 (average 4.88% p.a.) Bonds: € 240.5m 3 (average 6.92% p.a.) Hybrid Capital: € 146.4m (average 9.44% p.a.) FINANCIALS financing structure. 3 26 205 66 21 50 93 98 146 0 50 100 150 200 250 300 2026 2027 2028 2029 2030 ≥2031 Project Financing Bonds Hybrid Capital 27.08.2026 22
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Bond Term Nominal (in € m) Coupon 7.00% Green Bond 2023-2027 50.0 7.00% 7.00% Green Bond 2024-2029 93.0 7.00% 6.75% Green Bond 2025-2030 75.0 6.75% 10% Green Hybrid Bond unlimited maturity1 65.0 10.00% Hybrid Capital unlimited maturity2 56.4 9.00% Profit Participation Capital/Genussrechtskapital unlimited maturity3 25.0 9.00% Bearer Bond 2025-2030 7.5 7.00% Promissory Note Loans 2025-2030 15.0 7.00% Data as of 30 June 2026 1 step-up: 7 May 2030 | 2 step-up: 17 June 2031 | 3 no step-up FINANCIALS bonds. overview. 27.08.2026 23
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portfolio re-balancing. 2026.
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strategic repositioning. track record. start base. From #1 hotel developer to leading timber-hybrid developer in Europe. First mover advantage Repositioning. out of a position of strength. Equity-Ratio >30% Long-time expertise across resi and pre-fab. Pipeline ~2.000 units Experience in setting new industry standards in timber-hybrid and ESG Timber-Hybrid >80% TRACK RECORD 25 27.08.2026
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1.14 0.73 0.76 0.37 Pipeline Q3/25 Pipeline Q4/25 Standing Assets / Non-Strategic Projects for sale Future Pipeline residential office/ light ind. standings, non-strategic projects selected office/ light ind. premium living 0.36bn* cash potential 0.74bn 2.2bn 1.1bn 1.9bn 0.8-1.1bn Affordable Housing portfolio re-balancing. in three steps. * After redemption of bank debt, assuming sale at bookvalue STEP 1 STEP 2 STEP 3 NEW PIPELINE -40% 26 27.08.2026
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portfolio re-balancing. step 1. focus. 1.9bn 1.10bn Pipeline Q4/2025 Premium Pipeline Q1/2026 0.73bn -40% Munich 366 Prague 353 Vienna 754 ~2,000 units for sale/ under development Kraków 82 Frankfurt 141 Rest 211 Berlin 78 Premium residential pipeline reduced to ~ 2,000 units > 450 units sold in full during 2025 ~ 400 units removed due to new geographic focus ▪ 4 building sectors currently planned as commercial with rezoning potential ▪ Rezoning BT A + BT B → residential: share of pipeline increases to ~75% ▪ Rezoning all components → residential: share of pipeline increases to ~90% e.g. Timber Factory, Munich 0.37bn 16 51 77 9637 97 283 403 87 208 355 Q1 HY Q1-3 FY units sold. 2023, 2024, 2025 452 NEW PIPELINE Premium Living Selected Office 27 27.08.2026
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portfolio re-balancing. step 2. cash release. 1.9bn Pipeline Q4/2025 Pipeline Q1/2026 Residential 0.73bn Value Release 0.74bn Premium residential pipeline reduced to ~2,000 units > 450 units sold in full during 2025 ~ 400 units removed due to geographic refocusing Office 0.37bn Standing Assets Non-Strategic Projects Project Asset class Apartments / GFA** Share Timber View, Mainz Residential 184 apartments 100% Molenkopf, Mainz Residential 108 apartments 100% Klanovice, Prague Residential 90 single family homes 100% Klaus-Groth-Straße, Hamburg Residential 100 apartments 100% Timber Works, Munich Office 9,700m² 100% Timber Port, Düsseldorf Office 11,800m² 100% ▪ Andaz, Prague ▪ Voco, Den Hague ▪ Kempinski, Jochberg ▪ HIEx Düsseldorf ▪ HIEx Potsdam ▪ HAVN, Mainz ▪ Flösserhof, Mainz ▪ Arcus City III, Prague ▪ Adler Lodge, Kirchberg ▪ Paket 6, Vienna Hotel. Resi. €304 m Cash Potential* €59 m Cash Potential* NEW PIPELINE ▪ LeopoldQuartier A ▪ Timber Pioneer ▪ Timber Peak ▪ VID Office ▪ Poleczki Park Office. * After redemption of bank debt, assuming sales at book value ** Gross Floor Area 28 27.08.2026
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portfolio re-balancing. step 3. growth. 1.1bn Pipeline Q1/2026 Target Pipeline Residential 0.73bn Reside ntial 0.73bn Office 0.37bn Residential 0.73bn Office 0.37bn ~ 2.2bn Re-Balance Affordable Housing 0.8-1.1bn Capital generated from cash release (Step 2) will be reshuffled to affordable housing NEW PIPELINE ▪ Implementation of a two-product strategy in residential development (Affordable & Premium) ▪ Building a dedicated affordable housing pipeline, by leveraging our existing development expertise ▪ Continuation of the premium residential segment, with a strong focus on timber-hybrid construction and renewable energy ▪ Keeping the ESG focus, in support of UBM‘s green finance framework 29 27.08.2026
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two-product strategy. Affordable Housing Premium Living Strategic role Volume driver (“home cooking”) Margin driver (“gourmet”) Target group Middle income Upper income Construction Technology agnostic, Building Sytems Timber-Hybrid, Standardised Project size Scalable Medium/large Development focus Broad (urban) market according to demand Prime locations only (“A-Städte”) Market dynamic Structural supply shortage (“S” of ESG) Demand in UBM core market (“E” of ESG) RESIDENTIAL standardization, simplification and modularization remain core priorities. 30 27.08.2026
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AFFORDABLE HOUSING Affordable Housing EUR / m² 1 ▪ above ground construction cost, based on standardised element-modular systems, as offered by several big construction companies³ ▪ lower price levels achievable but only at the expense of fitting quality (e.g. heating panels instead of underfloor heating) ▪ underground: assumes a parking requirement of 0.7 parking stalls per apartment ▪ includes public outdoor areas and fit-out costs (including kitchen) ▪ includes reduced planning cost, marketing cost and a reduced level for contingencies ▪ also includes project management fees and all UBM internal charges ▪ land acquisition cost (incl. tax/title registration fee) will strongly vary, depending on location ▪ there is a direct link between land acquisition cost and monthly achievable rent ▪ financing cost are based on 3.5 years turnaround times (2 years from land acquisition to start of construction, 1.5 years construction time) ▪ assumes a 50% equity and 50% debt financing from acquisition to start of construction and a 25:75 ratio for the construction phase at an average interest rate between 5.5%-6.25% 300 850 530 540 2,000 800 incidental cost land acquisition financing margin construction cost above ground construction cost below ground 5,020 ▪ assumes a monthly net rent of €15/m² and net €150 per parking stall² as well as a 4% yield (25x annual rent) for the investor ▪ there is an interdependence between monthly rent levels and land acquisition costs (depending on the location) the next big thing. in all ubm markets. 1 sample calculation, may vary from market-to-market ²equals 105 parking stalls, €1.75/m² p.m of additional rental income in sample calculation ³ e.g. Porr Living, Moleno/Tetrix, b-solutions etc. affordable housing. development calculation. 31 27.08.2026
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300 397 850 1641 530 530 540 540 2000 2000 800 1540 affordable housing. methodology. 1 Statista Research Department, 20/04/2026 and 2025: „Städte mit den höchsten Mietpreisen für neu errichtete Wohnungen in Deutschland im 1. Quartal 2026“ – Munich/Frankfurt/Hamburg Q1 2026, other German cities Q1 2025; ImmoScout24, 21/05/2026: „ImmoScout24-Datenanalyse Mieten Landeshauptstädte: Graz und Klagenfurt holen auf“. 2 Statistik Austria / German statistical offices. Note: €/m² based on net rentable area. AFFORDABLE HOUSING 32 27.08.2026 % UBM Development AG – Investor Presentation Affordable Housing sample calculation 4% yield 15 €/m² for rent (net) 150 € for parking Affordable Housing sample calculation for Vienna margin construction cost above ground construction cost below ground incidental costs financing land acquisition vs 5,020 6,647 +791 price per m² rentable area 5,020 % 4% yield 20.41 €/m² for rent (net) 150 € for parking price per m² rentable area 6,647
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PREMIUM LIVING Premium Living EUR / m² 1 unlocking scale effects and time advantage. 671 1520 894 3,705 1,656 incidental cost land acquisition financing margin construction cost 8,446 ▪ standardisation, simplification, modularisation ▪ pre-fabrication ▪ halfing construction time ▪ answer to an increasing lack of skilled workers ▪ bathroom modules (in residential) ▪ overcapacity in building construction for short term gains ▪ less contingencies for changes (was up to 5% of total construction cost) ▪ short term overcapacity in consultants (architects, civil eng.) ▪ bargain hunting ▪ forced sellers: „please wait“ ▪ cash cannot be earmarked for acquisitions ▪ average interest cost ▪ average cost of debt at 5.5-6.25% ▪ business model: sell for 20-22.5 times annual rent ▪ 8% interest for shareholder loans included in financing costs 1 based on average of UBM real data. premium living. development calculation. 33 27.08.2026
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backup. real estate paradox.
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i s s u e s c u r r e n t r e a l i t y 1 housing shortage intensifies — top on political agendas → yet less apartments are being built 2 construction building costs outrun inflation → yet conventional methods prevail 3 office employers call staff back to the office → yet office leasing stays slow — decisions drag 4 hotels tourism boom sets record visitor numbers → yet the hotel transaction market stays cautious 5 Capital allocation flight to real assets → yet real estate underweighted in asset allocations 6 climate buildings are the single largest CO₂ source → yet fossil energy & conventional building methods prevail real estate paradox. today. 27.08.2026 35
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c a t a l y s t s u b m ' sa n s w e r s 1 housing affordable housing ubm rebalances its portfolio (€1,1bn affordable-housing pipeline) 2 construction move the construction site into the factory ubm launches prefabricated-housing pilot in Vienna (PORR Living) 3 office offices that can compete with work from home ubm offers competitive timber offices in Vienna, Frankfurt and Mainz 4 hotels rising room rates due to high occupancy ubm with 5 hotels for sale (3–5★, 1,183 rooms) 5 capital allocation real estate as tested safe haven ubm shares being traded at a 45% discount to book value 6 climate net-zero buildings that exceed EU targets ubm with portfolio of premium timber projects powered by renewables→ → → → → → catalysts. and ubm's answers. 36 27.08.2026
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prefabricated-housing pilot project viktor-kaplan-straße 11. 1220 vienna, austria ubm's answer to increasing building costs. RESI ANSWER 27.08.2026 37
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@PORR ▪ Vienna‘s largest district ▪ Vienna's #1 growth district ▪ 63% of the residents are families (compared to the Vienna average of 43%) ▪ bordered by the Danube in the southwest district Donaustadt, 1220 Vienna viktor-kaplan. macro. RESI ANSWER 27.08.2026 38
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Viktor-Kaplan-Straße 11, 1220 Vienna @PORR ▪ 92 apartments ▪ ground plus 4 upper floors ▪ ideally shaped für PORR Living standard viktor-kaplan. location. RESI ANSWER 27.08.2026 39
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@PORR STANDARD FLOOR (LEVELS 1–4) ▪ 92 units across four floors (each with a 6.7 m² balcony + photovoltaics) − 22% TYPE A: 20 units at 34.7 m² − 48% TYPE B: 44 units at 40.9 m² − 26% TYPE C: 24 units at 64.9 m² − 4% TYPE D: 4 units at 70.1 m² ▪ Gross floor area 1,520 × 4 = 6,080 m² ▪ Living area (excl. balconies) 1,097 × 4 = 4,388 m² + 616 m² balconies ▪ Gross floor area 1,320 m² ▪ Net commercial area: 470 m² ▪ Ancillary areas: 395 m² (technical facilities; bicycles; youth room; community) GROUND FLOOR ▪ Gross floor area 1,380 m² ▪ Car parking: 50 (3 accessible) ▪ Technical Facilities BASEMENT ▪ Gross floor area (above ground): 6,080 + 1,320 = 7,400 m² ▪ Net area (residential + retail): 4,388 + 470 = 4,858 m² + 616 m² balconies TOTAL cross-section viktor-kaplan. key facts. RESI ANSWER 27.08.2026 40
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Affordable housing – element construction* new way of thinking, no stripping of quality pilot project in Vienna. 92 apartments with pre-fab elements. expected reduction in construction time by 30%. wall facade elements (with pre-installed windows and outside shading) instead of re- inforced concrete with thermal insulation of € 1.70 - € 1.90 per sqm (due to hot water by balcony PV and heating/ cooling by heat pump) * as offered by PORR Living central, pre-installed home technology timber frame low operating costs systems empty conduit cabling with plug-in kitchen, bathroom,BUS system, curtain- and elictricity-rails included piping and electricity unit viktor-kaplan. element construction. porr living. RESI ANSWER 27.08.2026 41
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1. location − to Metro U4 − to 1st district & Danube Canal 2. built for the future • hybrid timber construction • geothermal + 425 kWp PV 3. space planning • flexible, efficient floor plans • ideal room depths for any team size • sample layout: open-plan + focus pods leopoldquartier office. the new benchmark for offices in Vienna. OFFICE ANSWER 5 min 27.08.2026 42
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1,183 rooms owned assets 3,912 rooms operated portfolio 1. hotels on balance sheet Andaz Prague Voco The Hague Hiex Düsseldorf Hiex Potsdam Kempinski Jochberg 2. leasing business model • Berlin, Warsaw, Frankfurt, Prague • Amsterdam, Munich, Krakow, Gdansk Hotel owner e.g. Union, Real I.S., Deka Lease payment Lease guarantee 17 hotels ubm hotels 51% share held by UBM Management fees Income from operations Hotel operator e.g. InterContinental, Radisson, Kempinski hotels. rooms owned. rooms operated. HOTEL ANSWER 27.08.2026 43
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1 Rating Date: October 2025 2 Rating Date: March 2026 3 Rating Date: December 2025 4 Listing Date: June 2026 excellence. is paying off. VÖNIX Index 4 ▪ 5th year in VBV’s Austrian Sustainability Index. CDP Ratings 3 ▪ B for Climate Change (4th year in a row) ▪ B for Water Security (second time) ▪ A- for Supplier Engagement Assessment EcoVadis 2 ▪ Silver Status (Top 15%) ISS ESG 1 ▪ Prime Status (B-) ▪ 5 years sector leader in Germany & Austria ▪ Fifth ESG Report ▪ In accordance with the GRI Universal Standard ▪ Externally audited by PWC ▪ First VSME Report ▪ Voluntary Reporting Standards for SMEs ▪ Proactively addressing shareholders information needs climate. best in class. CO2 ANSWER 27.08.2026 44
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37% 3% 30% 10% 6% 6% 8% 26% 74% 66% 34% Source: United Nations Environment Programme (2022 Global Status Report for Buildings and Construction) & IEA (Transport sector CO2 emissions, Buildings energy system) Other emissions Other traffic Road freight & buses Car traffic Industry emissions Infrastructure construction Building construction & operations Building operation Building construction Bricks, glass & other Concrete, aluminum & steel (ca. 2,3 bn t CO2) = 6% of total CO2 emissions Total: ~ 36 bn tons CO2 CO2 ANSWER global co2 emissions. 45 27.08.2026
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backup. at a glance. timber construction. investor relations.
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focus. pipeline. stock exchange. track record. one of the leading developers of timber construction and Affordable Housing projects in Europe. ▪ Two-product residential strategy ▪ Major European cities (premium) and urban opportunities (affordable) ▪ green. smart. and more (affordable). ▪ € 1.1bn in premium residential (and selected office/light industrial) projects* ▪ More than €750m of assets/projects for sale ▪ € 1.1bn Affordable Housing pipeline (in the making) ▪ Prime Market listing in Vienna for maximum transparency ▪ IGO and Strauss Group as core shareholders (with roughly 47.5%)** ▪ Top management (ExCo) invested and incentivised (virtual share options plan) ▪ More than 150 years of corporate history ▪ More than 150 years of capital markets history ▪ competent. consequent. transparent. ubm. at a glance. *pro rata over the next four years ** based on 7,350,000 shares floated (and excluding 122,180 treasury shares) SUMMARY 27.08.2026 47
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CO2 footprint – climate neutrality. Time and cost advantages. less weight and traffic on site. renewable raw material. high quality of living. ▪ one m³ of wood stores one ton of CO2 ▪ one m³ of concrete produces >0.6 tons of CO2 ▪ 33%-50% less construction time ▪ cost advantages through standardisation, modularisation and pre-fabrication ▪ >3% more usable space due to reduced wall strength ▪ approximately 66% lower weight compared to conventional structures ▪ up to 7 times less truck traffic due to pre-fabrication ▪ more wood growing than harvested in Germany and Austria ▪ best in class regarding recycling and cradle-to-cradle ▪ regional sourcing in all of UBM’s markets possible ▪ natural material creates a natural living environment ▪ better atmosphere (“room climate”) ▪ new aesthetics timber construction. benefits. 28.08.2025 48 GREEN.SMART. AND MORE.
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18.5 Data as of 31 December 2025 1 Free float including Management Board and Supervisory Board (3.0%) 2 Free float geographical split excluding Management Board and Supervisory Board Shareholder Structure 80% Free Float – Geographical Split2 7.0% 5.0% 38.8% 46.7% 9% Syndicate Free float 1 J. Dickinger IGO Industries 7% 4% USA Austria France Rest of world INVESTOR RELATIONS shareholder structure. 49 Strauss Group (0.9%)Treasury Shares (1.6%) 27.08.2026
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Bank Analyst Price target Recommendation Date SRC Research Stefan Scharff €30.00 Buy 29.05.2026 Montega Christian Bruns €28.00 Buy 19.05.2026 Erste Group Christoph Schultes €26.00 Buy 30.06.2026 ODDO BHF Elias New €20.00 Neutral 20.04.2026 Consensus €26.00 INVESTOR RELATIONS coverage. regular research. average share price target at €26. 50 27.08.2026
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Bricks, glass & other Management fees 3.2 18.5 29.3 4.4 22.6 7.0% 5.0% 38.8% 10% Financial Calendar 2026 Shareholder Information Publication of the Half-Year Report 2026 27 Aug 25 Interest payment on 7% UBM Green Bond 29 Oct 25 Interest payment on 6.75% UBM Green Bond 30 Oct 25 Publication of the Q3 Report 2026 26 Nov 25 Share price € 17.051 Market capitalisation € 127,4 Mio. No. of shares outstanding 7,472,180 Ticker symbol UBS ISIN AT0000815402 1 Closing Price: 26 August 2026 INVESTOR RELATIONS investor relations. 27.08.2026 51