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Cham Swiss Properties A unique real estate company with significant growth potential. November 2025Investor presentation
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This presentation (the "Presentation") has been prepared by Cham Swiss Properties AG ("Cham Swiss Properties" and together with its subsidiaries (the "Group")) for informational purposes only. The contents of this Presentation, including all statements made therein, are based on estimates, assumptions and other information currently available to the management of the Group. Certain statements in this Presentation are forward-looking statements. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements, including, but not limited to, general economic conditions, changes in market conditions, intense competition in the markets in which the Group operates and regulatory developments. Cham Swiss Properties does not undertake any obligation to update or otherwise review its forward- looking statements, whether as a result of new information, future events or otherwise. In addition, certain financial information included in this Presentation consists of non-Swiss GAAP FER financial and other alternative performance measures and ratios. These non-Swiss GAAP FER financial measures may not be comparable to similarly titled measures presented by other companies, nor should they be construed as an alternative to other financial measures determined in accordance with Swiss GAAP FER. This Presentation does not constitute an offer or solicitation for the purchase or disposal of, trading or any transaction in any securities of Cham Swiss Properties or the Group in any jurisdiction. Investors must not rely on this Presentation for investment decisions and are solely responsible for forming their own investment decisions. Cham Swiss Properties accepts no liability for the accuracy, completeness or currency of the details provided in this Presentation and is in no respect liable for any indirect or direct losses, liability claims, costs, receivables, expenses or damages of any kind that may arise from, or are connected to, the use of any or all of the information contained therein. Disclaimer Cham Swiss Properties • Investor presentation •2
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Cham Swiss Properties was formed from the merger of Ina Invest and the Cham Group. It has a high- quality portfolio of properties in prime locations worth CHF 1.7 billion, making it one of the top 10 listed real estate companies in Switzerland. Cham Swiss Properties is a compelling business case. Through development, the portfolio will double to CHF 3 billion by 2032 and rental income will quadruple to over CHF 100 million. The strong balance sheet with a high equity ratio combined with the attractive development pipeline offers flexibility. The 3 billion portfolio can be realized without capital increases. Cham Swiss Properties sees sustainability as a competitive advantage and aims to maintain and further develop one of the most sustainable real estate portfolios in Switzerland. Cham Swiss Properties pursues ambitious financial goals and a shareholder-friendly dividend policy. Cham Swiss Properties is managed by an experienced management team. A unique real estate company with significant growth potential Cham Swiss Properties Cham Swiss Properties • Investor presentation •3
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Prime locations and high property quality Cham Swiss Properties • Investor presentation •4 High-quality portfolio Baar/Cham Lausanne Geneva Basel Winterthur/Zurich Excellent location quality thanks to focus on Switzerland's strongest economic metropolitan regions: Basel, western Switzerland (Geneva, Lausanne), central Switzerland (Baar, Cham), Zurich (Winterthur, Zurich). High property quality, as the portfolio exclusively contains newly built or comprehensively renovated properties and ongoing projects. Investment properties Development and investment properties with high development potential
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Highlights in the real estate portfolio – Papieri site development, Cham Cham Swiss Properties • Investor presentation •5 High-quality portfolio A vibrant quarter in the center of Cham •Site area: approx. 15 hectares •170,000 m2 floor space •75% residential properties approx. 1,000 apartments, 100 of which are affordable •25% commercial properties for approx. 1,000 jobs •Stages 1 and 2 completed , stage 3 under construction, stages 4 and 5 in planning •Expected target rental income after completion: approx. CHF 40 million 2017 2019 2022 2024 Vote GP Papieri Site clearance and remediation Move-in Phase 1 Move-in Phase 2 Move-in Phase 3 5 Pavatex Süd Pavatex Nord Papieri
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Cham Swiss Properties • Investor presentation •6 High-quality portfolio Highlights in the real estate portfolio – Pavatex site development, Cham Pavatex North (approx. 17,700 m 2 ) •Development plan for commercial spaces •Interim uses Pavatex South (approx. 18,800 m 2 ): •Around 300 apartments and a school building for the municipality of Cham •15% affordable housing •10% retirement housing •Cooperative process with the municipality •Rezoning into a residential zone respectively a zone for public use 2022 2023 2025 2026 2028 2032 Devel. plan Pavatex North Urban devel. competition Pavatex South Rezoning as part of local devel. plan update Vote on development plan Construction start Move-in 6 Pavatex Süd Pavatex Nord Papieri
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Highlights in the real estate portfolio – Bredella site development, Pratteln Cham Swiss Properties • Investor presentation •7 High-quality portfolio An integral part of the city •Prime location with excellent transport connectivity, directly next to Pratteln train station. •Site area: approx. 8.5 hectares •Floor area ratio: approx. 2.0 •Total floor area: 170’000 m2 •70% residential, 30% commercial •Expected target rental income after completion: approx. CHF 40 Mio. 2022 2024 2026 2027 2029 Masterplan Bredella West Approval QP West Construction start devel. plot West Preparation of QP East Completion of development area West
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Highlights in the real estate portfolio – Lokstadt site development, Winterthur Cham Swiss Properties • Investor presentation •8 High-quality portfolio A new urban district is taking shape •Walking distance to Winterthur train station •Rocket: 100 m residential tower featuring rental apartments, a restaurant, retail areas, observation deck •Tigerli: podium building with rental apartments, including cooperative housing •Elefant: commercial property, single tenant Swica •Hall Draisine: listed heritage building with kindergarten tenant •Hall Rapid: listed heritage building with casino tenant •Hall Habersack: interim use 2014 2015 2018 2024 2025 2027 2030 Approval of dev. plan by municipal council Public vote / Referendum Construction start Phase 1 Move-in Elefant + Hall Draisine Move-in Hall Rapid Building permit Rocket+Tigerli Construction start Rocket+Tigerli Move-in Rocket+Tigerli
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Selection of other investment properties and projects in the portfolio Cham Swiss Properties • Investor presentation •9 High-quality portfolio Zurich Schaffhauserstrasse Flexible urban small households in prime locations Projects Investment properties Arlesheim Schwinbach Modern condominiums for nature- loving city dwellers in a stand-alone timber construction Genf Rue du Valais Office property in a prime location, transformation into a high-density mixed-use development Genf-Onex Chemin de l'Echo Apartments, school, gardens, and public space in a traffic-free neighborhood Genf-Onex Les Tattes Apartments, retail and office space in a traffic-free location with excellent transport links Winterthur Lokstadt, Elefant Sustainable office building combining historic industrial architecture with innovative construction Allschwil Holiday Inn Express & Suites (BaseLink) Modern business hotel in a dynamic innovation park Genf-Lancy Chemin des Olliquettes High-quality office building with easily convertible space in a central location Baar Unterfeld Süd, Baufeld 1b and 3 Plot 3: 13,800 m² of office space Plot 1b: 90 residential units directly next to the S-Bahn station
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Under construction Total CHF 225 million 2025 2026 2027 Boiler house, ZG Parking 3, ZG Papieri site E/F, ZG Schaffhauserstrasse, ZH Lokstadt Halls, ZH Rue du Valais, GE In planning (not final) Total CHF 1,215 million 2025 2026 2027 2028 2029 2030 2031 Transformer building, ZG Durolux building, ZG Baar site 3, ZG Papieri Parking 4/5/6, ZG Papieri site G/H, ZG Lokstadt Rocket/Tigerli, ZH Papieri site B/C/D, ZG Bredella West IP, BL Kalanderbau, ZG Grand-Pré, GE Echo, GE Developments on the timeline – full pipeline until 2032 Cham Swiss Properties • Investor presentation •10 Portfolio target 2032 Basic principle: Start of construction depends on the legal validity of the building permit and, in the case of commercial properties, also on the pre-letting rate Investment properties for own portfolio
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In planning (not final) Total CHF 203 million 2025 2026 2027 2028 2029 2030 2031 Arlesheim, BL Bredella West, PP, BL PM5, ZG Préverenges PP, VD In planning (not final) Total CHF 1,215 million 2025 2026 2027 2028 2029 2030 2031 Baar site 1B, ZG Préverenges IP, VD Pavatex North, ZG Pavatex South Resi without HR,ZG Pavatex South Residential HR, ZG Developments on the timeline – full pipeline until 2032 Cham Swiss Properties • Investor presentation •11 Portfolio target 2032 Condominium Investment properties for own portfolio (continued) Basic principle: Start of construction depends on the legal validity of the building permit and, in the case of commercial properties, also on the pre-letting rate
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Real estate portfolio with a high residential share of 60% 12 Portfolio target 2032 CHF 100 million rental income As of June 30, 2025, the target rental income from investment properties and temporary uses amounts to CHF 27.0 million. By 2032, the portfolio will have a residential share of around 60%. This will ensure stable rental income of over CHF 100 million and low volatility in annual performance across economic cycles. The geographical weighting of the portfolio will change only slightly during this period. Geographical weighting of the portfolio Cham Swiss Properties • Investor presentation • Portfolio by type of use CHF 27.0 million rental income
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Expected development of target rental income until 2032E Cham Swiss Properties • Investor presentation •13 Portfolio target 2032 60% 40% 0 20 40 60 80 100 120 2025 2026 2027 2028 2029 2030 2031 2032 Commercial Housing Expected target rental income in CHF million
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Gradual development of a staggered bond portfolio by 2032E 14 Portfolio target 2032 Cham Swiss Properties • Investor presentation • Gradual development of a staggered bond portfolio by 2032E. Target ratio of bonds/secured loans in 2032E: 2/3 to 1/3 (secured loans at a maximum of 20% of the portfolio value, target: 15%). LTV always below 45% according to current planning. Equity ratio always >45%. Dividend payments until 2032E largely covered by promotional income. 30.06.2025 2032E Loans 9-10 years Loans 3-10 years Total secured loans Loans 1-2 years Short-term loans (up to 3 months) Bonds Additional unused loans Relative increase in bond financing Financing structure as of June 30, 2025 •Debt capital: CHF 486 million •Additional unused credit lines: CHF 72 million •Unsecured real estate: approx. CHF 440 million •,QWHUHVWUDWH Ŗ\HDUV
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Key figures from the income statement for the first half of 2025 15 Financial results Cham Swiss Properties • Investor presentation • Income from the sale of promotional properties comes from the transfer of ownership of high-rise I in Cham. A large part of the "other operating income" stems from the sale of services provided by the energy center in Cham. The revaluation income stems from the merger (change of appraiser) and operational progress. Earnings per share for the first half of 2025 amount to CHF 3.73. Rental income, including Ina Invest, from January 1, 2025, to the merger: CHF 13.1 million in TCHF January 1 – June 30, 2025 Rental income 9,143 Income from sale of promotional properties 114,890 Other operating income 1,603 Operating income 125,636 Expenses from property rentals -1,474 Expenses from sale of promotional properties -77’585 Other operating expenses -8,762 Operating expenses -87,822 Capitalized own work 1,155 Operating result excluding revaluation 38,969 Net income from revaluation 125,401 Operating profit 164,370 Financial result -2,077 Profit before taxes 162,293 Tax -18,321 Consolidated profit 143,972 Shareholders' equity Cham Swiss Properties AG 143,995 Share of minority shareholders -23 Earnings per share in CHF 3.73
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Key figures from the balance sheet as of June 30, 2025 Cham Swiss Properties • Investor presentation •16 Financial results Promotional properties include the condominium construction project in Arlesheim. Other fixed assets include the construction costs for the energy center in Cham. The loan-to-value ratio as of June 30, 2025, is 29.2%. The NAV per share as of June 30, 2025, is CHF 21.48 in TCHF June 30, 2025 Cash and cash equivalents 3,393 Promotional properties 20,753 Other current assets 19,016 Total current assets 43,162 Investment properties 836,447 Development properties 809,032 Other fixed assets 29,449 Total fixed assets 1,674,928 Total assets 1,718,090 Total current liabilities 405,246 Total non-current liabilities 262,481 Total liabilities 667,727 Total equity 1,050,363 Equity ratio in % 61.1 NAV per share excluding minorities in CHF 21.48
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Real estate portfolio as of June 30, 2025 Cham Swiss Properties • Investor presentation •17 Financial results The pro forma valuation of the combined portfolio as of December 31, 2024, was based on the valuation of the Ina Invest portfolio by Wüest Partner and the Cham portfolio by JLL. The valuation of the combined portfolio according to the same principles by Wüest Partner resulted in a net positive change in market value of CHF 103 million. Project progress led to a net gain of CHF 16 million from changes in market value. Investments amounted to CHF 59 million in the first half of 2025. Condominium units were transferred for proceeds of CHF 115 million. 1’564 103 16 59 -76 1’666 Portfolio in CHF million Portfolio Dec. 31, 2024* *Pro forma combined, Ina Invest portfolio valued by Wüest Partner, Cham Group portfolio valued by JLL Net difference WP/ JLL valuation Net market value change Sales Portfolio June 30, 2025 Investments
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Future strategy combines approaches from Ina Invest and Cham Cham Swiss Properties • Investor presentation •18 Sustainability strategy Cham Swiss Properties will conduct benchmark analyses based on GRESB for all projects and existing properties. The company aims to be among the leaders compared to its peers. Cham Swiss Properties will publish its GRESB rating forthe first time in 2025. The capital market will continue to be served with the GRESB rating. GRESB is the leading rating system for measuring the sustainability performance of real estate companies. Other stakeholders will be won over by innovative and impact- oriented measures at the project and site level. One example is the Papieri site, which is pioneering new foundations for an energy-efficient, climate-neutral, and sustainable society throughout Switzerland.
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Key topics for reporting identified in accordance with GRI standards Cham Swiss Properties • Investor presentation •19 Sustainability strategy 1. Responsible corporate governance 2. Anti-corruption 3. ESG risk management 4. Climate change / greenhouse gas … 5. Energy production/consump… 7. Resource use and circular economy 10. User satisfaction 11. Safety & health 12. Supply chain & labor rights 13. Diversity, equality, and inclusion 14. Local Communities 3.0 4.0 5.0 6.0 7.0 3.0 4.0 5.0 6.0 7.0 Financial Materiality (outside-in) Impact Materiality (inside-out) Number of participants: 14 Cham Swiss Properties will publish a sustainability report in accordance with GRI standards in future. A stakeholder survey was conducted according to the principle of double materiality to identify the key issues. In addition to the GRI guidelines, the issues were also based on the European Sustainability Reporting Standards (ESRS). Five topics were classified as material – both in terms of their potential financial impact on the company (outside-in) and in terms of the influence the company exerts on these topics (inside-out). These five topics form the strategic focus for resource allocation and the sustainability report. At the project level, additional topics that are considered relevant in the respective local context can be taken into account. Double materiality analysis
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Cham Swiss Properties • Investor presentation •20 Experienced management team Board of Directors Executive Management Felix Thöni Vice Chairman Philipp Buhofer Member 1954, Swiss, PD Dr. phil. I Emeritus Professor of the Department of Linguistics and Literary Studies at the University of Basel Annelies Häcki Buhofer Member 1959, Swiss, Dr. oec. HSG, independent management consultant and member of BoDs 1978, Swiss, Dipl. Ing. ETH Zurich 1987, Swiss, MAS Real Estate Management and MAS Controlling HSLU, Business Economist HFW Zug 1975, Swiss, Dipl. Arch. ETH Zurich, MAS Real Estate, University of Zurich 1978, Swiss, BBA FH Technician TS Timber Construction 1987, Swiss, Swiss Federal Diploma in Real Estate Management 1959, Swiss, University of Applied Sciences Zurich, independent entrepreneur and member of BoDs 1960, Swiss, lic. iur. University of St. Gallen, member of BoDs Stefan Mächler Chairman 1957, Swiss, Dr. iur., University of Fribourg, independent business consultant and member of BoDs Christoph Caviezel Member 1959, Swiss citizen, business degree, University of Applied Sciences Zurich, Advanced Management Program Harvard Business School and Wharton School, Chairman Implenia Hans Ulrich Meister Member Board of Directors and management with long-standing track record Thomas Aebischer Chief Executive Officer Daniel Grab Chief Financial Officer Lukas Fehr Head of Development Roland Regli Head of Realization William White Head of Asset and Site Management
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Cham Swiss Properties • Investor presentation •21 Shareholders Ownership structure characterized by anchor shareholders 29.2% 14.3% 8.6% 47.9% BURU Holding AG Implenia AG Holmia Holding AG Free float
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Ambitious financial targets and shareholder-friendly dividend policy Cham Swiss Properties • Investor presentation •22 Financial targets Financial targets and dividend policy Equity ratio Maintain an equity ratio of at least 45% of total assets to ensure stability, flexibility, and dividend capacity. Debt financing Optimization of the capital structure through the targeted use of debt capital, taking into account the distribution target. Loan-to-value ratio of the real estate portfolio Max. 50%. The LTV may be exceeded during the development phase. Target return on equity Average >6%/year. Dividend policy At least 1.5% of net asset value (NAV) up to and including fiscal year 2027 and at least 2% thereafter.
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Cham Swiss Properties AG Cham Swiss Properties • Investor presentation •23 Attractive investment case •One of the most attractive and sustainable portfolios in Switzerland with development prospects until after 2040. •Balanced regional distribution in Switzerland’s urban centers and good mix of uses with a high proportion of residential properties. •Portfolio size and financial strength open up freedom of action in portfolio management and synergies in the cost structure.
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Stock information, financial calendar, and contacts Share information Cham Swiss Properties shares are listed on the SIX Swiss Exchange in accordance with the standard for real estate companies. Shares issued: 47,478,954 registered shares with a par value of CHF 0.03 each Accounting: Swiss GAAP FER ISIN: CH0524026959 Security number: 52402695 Ticker: CHAM Financial calendar March 20, 2026: Publication of annual report May 4, 2026: Annual General Meeting Contact for investors, analysts, and financial media IR and Media Relations Officers Edwin van der Geest Thomas Balmer investors@champroperties.ch Share register Computershare Switzerland AG +41 62 205 77 50 business.support@computershare.ch Address Cham Swiss Properties AG Fabrikstrasse 5 +41 41 508 08 20 CH-6330 Cham info@champroperties.ch www.champroperties.ch Cham Swiss Properties • Investor presentation •24 Appendix