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Half - Year Report 2026 25 August 2026
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August 2026 - 1 Disclaimer This publication may contain specific forward - looking statements, e . g . statements including terms like "believe", "assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions . Such forward - looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of EPIC Suisse AG and those explicitly or implicitly presumed in these statements . Against the background of these uncertainties, readers should not rely on forward - looking statements . EPIC Suisse AG assumes no responsibility to update forward - looking statements or to adapt them to future events or developments . The information contained in this presentation does not purport to be comprehensive . Please refer to our consolidated interim financial statements for the period ended 30 June 2026 on our website at https : //ir . epic . ch/en/financial - reports/ Alternative performance measures This presentation contains references to operational indicators, such as reported vacancy rate, adjusted vacancy rate, WAULT, and alternative performance measures (“APM”) that are not defined or specified by the IFRS Accounting Standards, including EBITDA (incl . revaluation of properties), EBITDA (excl . unrealised revaluation of properties), EBITDA (excl . disposal and unrealised revaluation of properties), net operating income, return on equity (incl . revaluation effects), return on equity (excl . unrealised revaluation effects), return on equity (excl . disposal and unrealised revaluation effects), profit (excl . unrealised revaluation effects), profit (excl . disposal and unrealised revaluation effects), net loan to value (LTV) ratio, as applicable . These APM should be regarded as complementary information to and not as substitutes of the Group’s consolidated financial results based on IFRS Accounting Standards . These APM may not be comparable to similarly titled measures disclosed by other companies . For the definitions of the main operational indicators and APM used, including related abbreviations, please refer to the section “Alternative Performance Measures” on page 52 of our Half - Year Report 2026 . Except if indicated otherwise, all numbers are shown according to the unaudited IFRS consolidated interim financial statements per 30 June 2026 . APM are shown based on the sector in which the properties belonged to during the period (i . e . before any transfers between sectors if any) . Other Data Certain numerical figures set out in this presentation, including financial data presented in millions or thousands, certain operating data, percentages describing shares and industry data, have been subject to rounding adjustments and, as a result, the totals of the data in this presentation may vary slightly from the actual arithmetic totals of such information . Furthermore, the variations shown in percentages are based on the actual numbers and may therefore vary slightly from the variation calculated on the rounded numbers . Glossary A glossary of alternative performance measures has been included in the appendix for ease of reference .
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• Market overview • EPIC at a glance • Highlights • Key figures • Disposal • Developments • Outlook Half - Year Report 2026 Agenda
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Switzerland macroeconomic outlook Swiss Consumer Price Index (CPI) with forecast data (1) As of June 2026 Swiss Consumer Sentiment Index (2) As of July 2026 Annual growth of real Swiss gross domestic product (GDP) with forecast data (2) As of June 2026 • Moderate inflation prospects: After the Inflation in Switzerland has sharply increased in 2022 to 2.8%, the inflation rate came down to 0.2% in 2025 and is expected to re - increase to 0.6% in 2026 and 2027 • Stable economic outlook: GDP growth is expected to minimally decrease for the full year 2026 (+0.9%) compared to the last three years and go back to 1.6% for 2027 • Challenging sentiment: Consumer sentiment is still negative in July 2026 (34.8). This indicates a continuing high level of uncertainty on the consumer side 0.7% 0.2% (0.7%) (0.2%) 0.0% (1.1%) (0.4%) 0.5% 0.9% 0.4% (0.7%) 0.6% 2.8% 2.1% 1.1% 0.2% 0.6% 0.6% 2010 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 '26F '27F 3.0% 1.8% 0.9% 2.1% 2.2% 1.7% 1.6% 1.8% 3.0% 1.4% (2.3%) 5.9% 3.5% 1.2% 1.2% 1.5% 0.9% 1.6% 2010 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 '26F '27F (34.8) (60.0) (50.0) (40.0) (30.0) (20.0) (10.0) 0 Jan-23 Jul-23 Jan-24 Jul-24 Jan-25 Jul-25 Jan-26 Jul-26 Consumer confidence Average (since Jan 2023) August 2026 – 3 Notes: (1) Swiss National Bank (2) SECO
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• Market overview • EPIC at a glance • Highlights • Key figures • Disposal • Developments • Outlook Half - Year Report 2026 Agenda
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EPIC’s 1.7 billion CHF portfolio by 30 June 2026 Portfolio by region Based on market value Portfolio by use Based on market value August 2026 - 5 363’148 m 2 Rentable area of properties in operation 4.1 % Net rental income yield of properties in operation (1) (annualised) 7.6 years WAULT 24 Properties Notes: (1) Excluding the rental income of the property Vennes III which was sold in May 2026
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• Market overview • EPIC at a glance • Highlights • Key figures • Disposal • Developments • Outlook Half - Year Report 2026 Agenda
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Rental income grew by 4.0% to CHF 34.7 million in H1 2026 versus CHF 33.4 million in H1 2025 (0.5% on a like - for - like basis) Highlights of the first Half - Year 2026 Reported vacancy rate (1) at 9.4% in H1 2026 and 3.8% in H1 2025 ; adjusted vacancy rate (2) at 2.9% in H1 2026 (n/a in H1 2025) Long WAULT as at 30 June 2026 of 7 . 6 years ( 7 . 9 years as at 31 December 2025 ) CHF 9.4 million realised revaluation gain on one - off disposal of the property Vennes III 1 EBITDA (excl. disposal and unrealised revaluation of properties) amounted to CHF 28.1 million (CHF 26.8 million in H1 2025) 2 4 3 5 August 2026 - 7 Solid equity ratio at 54.4% as at 30 June 2026 (53.5% and 48.4% as at 31 December 2025 and 30 June 2025, respectively) 6 Notes: (1) For the properties in operation during the period (2) Campus Leman - Building C and PULSE were classified in investment properties under development/construction during the financial year 2025 and were moved to investment properties in operation on the last day of last year (i.e. 31 December 2025). The adjusted vacancy rate exclude s t hese two properties
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• Market overview • EPIC at a glance • Highlights • Key figures • Disposal • Developments • Outlook Half - Year Report 2026 Agenda
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Portfolio key figures Portfolio Unit 30 Jun 2026 31 Dec 2025 Variation Number of properties per segment (in operation / development) # 24 (25 (1) / 2 (2) ) 25 (26 (1) / 2 (2) ) (1) [(1) / - ] Total portfolio CHF ('000) 1 ' 665 ' 650 1'683'988 (1.1%) Investment properties in operation CHF ('000) 1 ' 654 ' 260 1'673'018 (1.1%) Investment properties under development/construction CHF ('000) 11 ' 390 10'970 3.8% WAULT (weighted average unexpired lease term) Years 7.6 7.9 (3.8%) H1 2026 H1 2025 Reported vacancy rate (properties in operation during the period) (3) % 9.4% 3.8% 147.4% Adjusted vacancy rate (properties in operation during the period) (4) % 2.9% n/a - n/a Notes: (1) The property acquired in Tolochenaz (via EPiC 24) in December 2022 is valued separately but considered as an extension of the property in Tolochenaz ( EPiC 7) (2) Two properties are split into two segments - EPiC 19 (Campus Leman) and EPiC 21 (Nexus Brunnpark ) as they have a yielding and a development part (3) For segment and key performance indicator reporting purposes, the properties are considered as per the category they were cla ssi fied in as at 1 January. The transfer between segments/investment properties categories is only effective on the last day of the financial year. Campus Leman - Buildi ng C and PULSE were classified in investment properties under development/construction during the financial year 2025 and were moved to investment properties i n o peration on 31 December 2025 (4) Reported vacancy rate adjusted for absorption and strategic vacancy in certain properties in operation (i.e. Campus Leman – Buil ding C and PULSE) August 2026 - 9 Disposal of Vennes III located in Lausanne in May 2026
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Offices Logistics Retail Offices Retail Retail Offices Logistics Retail Logistics Mixed (15 assets) (2) Developments (2 assets) Balanced portfolio Notes: (1) In accordance with IFRS when taking into account the right - of - use of land (2) Mixed includes properties categorised as Offices, Retail and Logistics/industrial (3) Campus Leman - Building D ( EPiC 19) and the land reserve of Nexus Brunnpark in Roggwil ( EPiC 21) (4) EPiC 24 is considered as an extension of EPiC 7 in Tolochenaz Breakdown of the portfolio as at 30 June 2026 based on market value (1) top 10 assets • The portfolio consists of 24 properties, with 2 properties divided into two segments (3) and one property considered as an extension of an existing property (4) • 25 assets in operation • 2 assets in development/construction (3) • Top 10 properties in operation with value of 68% of total portfolio • Five properties in operation with individual value higher than CHF 100 million • Average asset value: circa CHF 62 million • Median asset value: circa CHF 46 million • Smallest asset in operation: circa CHF 6 million August 2026 - 10
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1 ' 684.0 1 ' 643.1 1 ' 665.7 (40.9) 8.8 13.8 Portfolio - 31 Dec 2025 Disposal Vennes III in May 2026 Portfolio - 31 Dec 2025 (excl. Vennes III) Capitalised costs Net revaluation gain Portfolio - 30 Jun 2026 Portfolio value decreased by 1.1% as at 30 June 2026 compared to 31 December 2025 following the sale of our property Vennes III Portfolio market value evolution over the first half year 2026 in CHF million - 1.1% August 2026 - 11 The 1.1% decline of the portfolio value is a direct result of the disposal of the property Vennes III in May 2026. Excluding the impact of the disposal, the net unrealised revaluation gain of CHF 13.8 million and the continuous investments of CHF 8.8 million contributed positively to the portfolio’s evolution. The capitalised costs relate to: • the properties in operation (CHF 8.1 million), most significantly for PULSE ( EPiC 23) for a total of CHF 8.6 million. In addition, CHF 1.1 million in aggregate in relation to a cost reimbursement settlement and subsidies were granted in H1 2026 • the development project on the land reserve in Roggwil ( EPiC 21) for CHF 0.7 million +1.4%
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Net unrealised revaluation gain of CHF 13.8 million in H1 2026 Net unrealised revaluation results comparison 8,665 1,753 3,635 (249) 13,804 6,384 4,455 (556) 3,505 13,788 Offices Retail Logistics/ industrial Properties under development/ construction Total H1 2026 H1 2025 • All properties are revalued by Wüest Partner, an independent valuer, on a semi - annual basis (30 June and 31 December) • In H1 2026, the revaluation of the properties resulted in a net unrealised revaluation gain of CHF 13.8 million (the same in H1 2025) August 2026 - 12 Wüest Partner Input parameters 30 Jun 2026 31 Dec 2025 30 Jun 2025 Average nominal discount rate 4.33% 4.35% 4.39% Assumed inflation rate 1.00% 1.00% 1.00% Average real discount rate 3.30% 3.32% 3.35% Lowest real discount rate 2.80% 2.80% 2.80% Highest real discount rate 4.00% 4.00% 4.10% in CHF ' 000
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Reported and adjusted vacancy rates for properties in operation during the period 990 3'658 1'078 (2 ' 580) ( 88 ) H1 2026 unadjusted vacancy PULSE H1 2026 vacancy adjusted for PULSE Campus Leman - Building C H1 2026 vacancy adjusted for Campus Leman - Building C and PULSE Adjusted vacancy after excluding Campus Leman – Building C and PULSE (1) Vacancy (CHF ‘000) Vacancy rate 3.1% Notes: (1) Properties recently built (2) Adjusted for Campus Leman – Building C (3) Adjusted for PULSE 9.4% 2.9% H1 2026 vacancy rates Reported Adjusted Offices (2) 3.4% 3.0% Retail 3.8% 3.8% Logistics/industrial (3) 28.6% 0.2% Properties in operation 9.4% 2.9% August 2026 - 13
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1.2 0.2 2.3 0.5% like - for - like rental growth Rent evolution on a like - for - like basis (1) Notes: (1) Rental income excluding ( i ) Vennes III sold in May 2026; (ii) Campus Leman – Building C and PULSE, both developments completed by the end of H1 2025 and (iii) the land reserve in Roggwil ( EPiC 21) (2) Rental income from Vennes III sold in May 2026, Campus Leman – Building C, PULSE and the land reserve in Roggwil ( EPiC 21) H1 2025 L - f - l increase 33.4 34.7 32.2 32.4 Sector L - f - l growth H1 2026 versus H1 2025 Offices 2.1% Retail 0.5% Logistics/industrial (3.4%) Like - for - like (L - f - l) for properties in operation during the period 0.5% Total properties in operation (not L - f - l) 4.0% • The 2.1% growth in the Offices sector is substantially due to lower vacancies • The 3.4% reduction in the Logistics/industrial sector is mainly driven by rent incentives in one property in CHF million Rent from other properties (2) Rent from like - for - like portfolio August 2026 - 14 H1 2026
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Tenant group Net rental income H1 2026 (CHF million) Share (% of total) WAULT (years) (4) Coop group (1) 19% Migros group (1) 8% GXO Logistics Switzerland S.A.G.L. 6% CHUV (2) 6% Kanadevia Inova AG 5% Incyte Biosciences International S.à.r.l . 5% Top 6 tenants 17.0 49% 9.3 Other (circa 160 tenants (3) ) 17.7 51% Rental income 34.7 100% 7.6 Top 6 tenants with above - average WAULT of 9 years 6.6 2.9 2.0 1.9 1.9 1.7 89.5% of rental income is indexed according to Swiss CPI formulas (4) August 2026 - 15 Notes: (1) Coop and Migros captions all brands and shops belonging to their respective groups (retail and non - retail) (2) “Centre Hospitalier Universitaire Vaudois” group, including PMU Policlinique médicale universitaire (3) Number of tenants excludes tenants with rental contracts from parking spaces, apartments, storage and ancillary areas (such as delivery ramps, antennas, show cases for adverts etc.) (4) Weighted by rental income excluding rent free
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Long leases with balanced expiry profile Expiry of investment properties’ lease contracts based on 30 June 2026 rent (1) 5.0% 1.7% 5.0% 5.9% 12.4% 16.2% 9.4% 3.9% 1.9% 8.7% 29.9% Notes: (1) Rental income excludes any rent incentives and exercise of any early break option(s) (2) Within six months 2026 ( 2 ) 2027 2028 2029 2030 2031 2032 2033 2034 2035 longer Out of the leases expiring in 2026: • 59% relate to contracts: • with no fixed maturity; or • which were renewed / re - let • 41% relate to areas that are on the market August 2026 - 16 >53% expiring post December 2031 Out of the leases expiring in 2027: • 73% were re - let or renewed or are expected to be renewed, 14% are in negotiations and 13% on the market
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Balance sheet Unit 30 Jun 2026 31 Dec 2025 Variation Total assets CHF ('000) 1 ' 697 ' 658 1 ' 721 ' 629 (1.4%) Equity (NAV) CHF ('000) 924 ' 266 920 ' 512 0.4% Equity ratio % 54.4% 53.5% 1.7% Mortgage - secured bank loans CHF ('000) 596 ' 022 617 ' 106 (3.4%) Weighted average interest rate on mortgage - secured bank loans % 1.2% 1.1% 9.1% Weighted average residual maturity of mortgage - secured bank loans Years 3.4 3.7 (8.1%) Net loan to value (LTV) ratio % 35.1% 35.5% (1.1%) Return on equity (incl. revaluation effects) (1) % 8.6% 7.5% 14.7% Return on equity (excl. unrealised revaluation effects) (1), (2) % 6.5% 4.9% 32.7% Return on equity (excl. disposal and unrealised revaluation effects) (1), (3) % 4.8% 4.9% (2.0%) Balance sheet key figures Target net LTV of +/ - 45% medium term August 2026 - 17 Notes: (1) Annualised for H1 2026 (2) Includes the impact of the sale of our property Vennes III in May 2026 (3) Excludes the impact of the sale of our property Vennes III in May 2026
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Notes: (1) Based on 11’205’076 shares (2) Deferred tax assets (TCHF 218) and other non - current assets corresponding to the complementary property tax in Vaud (CHF 6.8 mil lion) NAV per share at CHF 82.49 by end of June 2026 920.5 924.3 1'053.9 39.8 (35.9) 0.2 (0.3) 136.6 (7.0) IFRS NAV - 31 Dec 2025 H1 2026 results Dividend distribution Share-based compensation Delivery of share-based compensation IFRS NAV - 30 Jun 2026 Deferred tax liabilities Deferred tax assets IFRS NAV before net deferred taxes 30 Jun 2026 in CHF million IFRS NAV evolution over H1 2026 IFRS NAV per share (1) in CHF 82.15 82.49 August 2026 - 18 (2) 94.06
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Spread maturity bank debt profile Bank debt by type as at 30 June 2026 As at 30 June 2026 • Low financing costs – weighted average cost of debt of 1.2% • Broad range of bank debt maturities – weighted average residual debt maturity of 3.4 years • Majority of bank debt hedged – 80% of bank debt is hedged (either through fixed interest rates or swaps); 72% when excluding the interest rate swap coming to maturity on 30 September 2026 • Net loan to value ratio (3) – 35.1% Bank loan maturity profile as at 30 June 2026 over the years Maturing debt in % of bank debt Variable CHF 344m Fixed (hedged) CHF 252m Bank debt CHF 596m Unhedged CHF 120m Hedged (interest rate swaps) CHF 224m Variable CHF 344m August 2026 - 19 9.3% 7.7% 10.7% 13.2% 16.8% 6.9% 0.9% 7.6% 20.2% 3.3% 3.4% 0.0% 16.2% 21.8% 7.6% 37.0% 3.3% 14.1% 2026 2027 2028 2029 2030 2031 2032 Variable (unhedged) SWAPs Fixed (2) Notes: (1) The 7.7% relates to one variable loan with maturity date in 2028 which is linked to an interest rate swap coming to maturity in 2026 (shown as unhedged in the maturity profile, although hedged as at 30 June 2026) (2) Included in the 20.2% of fixed bank loans due in 2030 is a fixed loan linked to a swap coming to maturity in 2028 (which is not reflected under swaps in the graph) and which accounts for 8.4% of total loans (3) Ratio of net debt to the market value of total real estate properties including the right - of - use of the land (1)
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Results Unit H1 2026 H1 2025 Variation Rental income from real estate properties CHF ( ' 000) 34 ' 749 33 ' 406 4.0% Net operating income (NOI) CHF ( ' 000) 31 ' 954 30 ' 635 4.3% Net gain (loss) from revaluation of properties CHF ( ' 000) 23 ' 237 13 ' 788 68.5% EBITDA (incl. revaluation of properties) CHF ( ' 000) 51 ' 373 40 ' 634 26.4% EBITDA (excl. unrealised revaluation of properties) (1) CHF ( ' 000) 37 ' 569 26 ' 846 39.9% EBITDA (excl. disposal and unrealised revaluation of properties) (2) CHF ( ' 000) 28 ' 136 26 ' 846 4.8% Profit (incl. revaluation effects) CHF ( ' 000) 39 ' 750 30 ' 024 32.4% Profit (excl. unrealised revaluation effects) (1) CHF ( ' 000) 30 ' 115 20 ' 480 47.0% Profit (excl. disposal and unrealised revaluation effects) (2) CHF ( ' 000) 22 ' 020 20 ' 480 7.5% Net rental income yield of properties in operation during the period (annualised) (3) % 4.1% (4) 4.5% (8.9%) Profit or loss key figures August 2026 - 20 Notes: (1) Includes the impact of the sale of our property Vennes III in May 2026 (2) Excludes the impact of the sale of our property Vennes III in May 2026 (3) For segment and key performance indicator reporting purposes, the properties are considered as per the category they were cla ssi fied in as at 1 January. The transfer between segments/investment properties categories is only effective on the last day of the financial yea r. Campus Leman - Building C and PULSE were classified in investment properties under development/construction during the financial year 2025 (4) Excluding the rental income of the property Vennes III which was sold in May 2026 4.4% when excluding PULSE and Campus Leman – Building C
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34'749 35'891 31'954 28'136 37'569 51'373 1'142 (3 ' 937) (3 ' 818) 9'433 13'804 - 10'000 20'000 30'000 40'000 50'000 Rental income from real estate properties Other income Total income Direct expenses related to properties Net operating income (NOI) Other operating expenses EBITDA (excl. disposal and unrealised revaluation of properties) Gain on disposal (Vennes III) EBITDA (excl. unrealised revaluation of properties) Unrealised revaluation of properties EBITDA (incl. revaluation of properties) in CHF ' 000 H1 2026 net rental income to EBITDA bridge August 2026 - 21 (1) Notes: (1) Other operating expenses include personnel expenses, operating expenses and administrative expenses
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34.7 32.0 28.1 33.4 30.6 26.8 78.4 89.4 89.0 78.4 Rental income, NOI and EBITDA (excl. disposal and unrealised revaluation of properties) comparison 4.1 (2) Notes: (1) Net rental income of the properties (annualised) divided by the fair value of real estate properties A – Total portfolio B – Properties in operation during the period PULSE and Campus Leman – Building C classified in investment properties in operation in H1 2026 / in investment properties unde r development/construction in H1 2025 (2) Excluding the rental income of the property Vennes III which was sold in May 2026 (3) Net operating income (NOI) divided by total income / EBITDA (excl. disposal and unrealised revaluation of properties) di vid ed by total income A - NRI yield % (1) Net rental income EBITDA (excl. disposal and unrealised revaluation of properties) Net operating income (NOI) in CHF million A - Margin % (3) 4.0 August 2026 - 22 H1 2026 H1 2025 4.1 (2) B - NRI yield % (1) 4.5 H1 2026 H1 2025 H1 2026 H1 2025
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Information per share Unit 30 Jun 2026 31 Dec 2025 Variation Number of shares outstanding at period end # ('000) 11'205 11'205 = - Net asset value (NAV) per share CHF 82.49 82.15 0.4% Share price on SIX Swiss Exchange at period end CHF 82.60 87.00 (5.1%) H1 2026 H1 2025 Weighted average number of outstanding shares # ('000) 11'205 10 ' 330 8.5% Earnings per share (incl. revaluation effects) CHF 3.55 2.91 22.1% Earnings per share (excl. unrealised revaluation effects) (1) CHF 2.69 1.98 35.6% Earnings per share (excl. disposal and unrealised revaluation effects) (2) CHF 1.97 1.98 (0.9%) Information per share key figures August 2026 - 23 Notes: (1) Includes the impact of the sale of our property Vennes III in May 2026 (2) Excludes the impact of the sale of our property Vennes III in May 2026
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• Market overview • EPIC at a glance • Highlights • Key figures • Disposal • Developments • Outlook Half - Year Report 2026 Agenda
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Vennes III sold in May 2026, 23% above latest independent market value Unit Overview Acquisition year of the land Year 2011 Completion of construction Year 2013 Total investment costs (1) CHF million 34.3 Annual IFRS rental income CHF million 1.7 Total rental income over ownership duration (2) CHF million 29.3 Independent market value as at 31 December 2025 CHF million 41.6 Total proceeds (net of transaction costs) (3) CHF million 51.1 H1 2026 revaluation gain on disposal (4) CHF million 9.4 Key facts and figures Notes: (1) Including tenant fit - out (2) From 2013 to May 2026 (3) CHF 0.8 million of deferred purchase price to be received in 5 equal instalments in H2 2026 (4) Before tax Transaction rationale • Optimisation of our presence around the Biopôle campus • Favourable market conditions for a sale August 2026 - 25
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• Market overview • EPIC at a glance • Highlights • Key figures • Disposal • Developments • Outlook Half - Year Report 2026 Agenda
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Notes: Source of pictures: 2b architectes sàrl , Pichler Fotografen and Laurent Kaczor (1) Currently classified under investment properties in operation Progress on ongoing and future development projects • Campus Leman - Building D is the third and final phase of the project • Building permit is expected to be submitted during H2 2026 • Building lettable area is expected to be circa 800 m 2 • A preliminary building permit (“ Voranfrage ”) was received in H2 2024 in order to facilitate the submission of the definitive building permit • Technical advisory team studying various scenarios to achieve the most efficient project • Expect to submit the building permit by H1 2027 Nexus Brunnpark Tolochenaz (in planning) (1) Campus Leman – Building D Future development project Ongoing development projects • Strategic development site in canton Vaud with land size of circa 80’000 m 2 and potential building rights in excess of 200’000 m 2 • New master plan expected to improve flexibility of the building rights • Agreement between the various concerned landowners finalised • Masterplan approved by the town council of Tolochenaz in 2025/2026 • Awaiting final approval by the cantonal authorities which (subject to statutory oppositions) will bring the revised building rights into force August 2026 - 27
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• Market overview • EPIC at a glance • Highlights • Key figures • Disposal • Developments • Outlook Half - Year Report 2026 Agenda
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August 2026 - 29 Outlook • Persistent geopolitical tensions, trade disputes and unpredictable policy changes across major economies continue to contribute to market volatility and global uncertainty. • Assuming no materially adverse impact on our operations going forward, we revise our rental income growth guideline from approximately 1% (communicated following the Vennes III disposal) to approximately 1.5% for the full year 2026 compared to 2025.
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Appendix
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- 20.00 40.00 60.00 80.00 100.00 120.00 140.00 160.00 180.00 25 May 2022 30 Jun 2022 29 Jul 2022 31 Aug 2022 30 Sept 2022 31 Oct 2022 30 Nov 2022 30 Dec 2022 31 Jan 2023 28 Feb 2023 31 Mar 2023 28 Apr 2023 31 May 2023 30 Jun 2023 31 Jul 2023 31 Aug 2023 29 Sept 2023 31 Oct 2023 30 Nov 2023 29 Dec 2023 31 Jan 2024 29 Feb 2024 28 Mar 2024 30 Apr 2024 31 May 2024 28 Jun 2024 31 Jul 2024 30 Aug 2024 30 Sept 2024 31 Oct 2024 29 Nov 2024 30 Dec 2024 31 Jan 2025 28 Feb 2025 31 Mar 2025 30 Apr 2025 30 May 2025 30 Jun 2025 31 Jul 2025 29 Aug 2025 30 Sept 2025 31 Oct 2025 28 Nov 2025 30 Dec 2025 30 Jan 2026 27 Feb 2026 31 Mar 2026 30 Apr 2026 29 May 2026 30 Jun 2026 31 Jul 2026 EPIC SXI Real Estate® Shrs Broad TR SPI® TR 144.74 IPO 25 May 2022 EPIC Suisse AG 31 EPIC share price compared with SXI Real Estate & SPI indexes (1) August 2026 - 31 rebased Notes: (1) Source: SIX Swiss Exchange (2) EPIC N (ISIN: CH0516131684) ; dividend - adjusted 136.08 146.03 (2)
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Glossary of Alternative Performance Measures Adjusted vacancy rate (properties in operation) Reported vacancy rate (properties in operation) adjusted for absorption and strategic vacancy in certain properties in operation (classified as such) during the period (i . e . before any period - end transfers between categories) over maximum three years Average IFRS NAV The average IFRS NAV corresponds to ½ of the sum of the IFRS NAV at the beginning and at the end of the reporting period EBIT Earnings before interest and tax corresponds to EBITDA after depreciation and amortisation EBITDA or EBITDA (incl . revaluation of properties) Earnings before interest, tax, depreciation and amortisation including net gain (loss) from revaluation of properties, i.e. including all realised and unrealised revaluation gains and losses of properties EBITDA (excl . unrealised revaluation of properties) Earnings before interest, tax, depreciation and amortisation excluding gains and losses from revaluation of properties, i.e. including the realised revaluation gains and losses on disposals EBITDA (excl. disposal and unrealised revaluation of properties) Earnings before interest, tax, depreciation and amortisation excluding net gain (loss) from revaluation of properties, i.e. excluding all realised and unrealised revaluation gains and losses of properties EBITDA (as defined) margin EBITDA (as defined) divided by total income August 2026 - 32
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Glossary of Alternative Performance Measures EBITDA (as defined) yield EBITDA (as defined) divided by the fair value of total real estate properties IFRS NAV Total equity as shown in the consolidated statement of financial position IFRS NAV (before net deferred taxes) IFRS NAV excluding deferred tax liabilities, deferred tax assets and other non - current assets (corresponding to the complementary property tax in canton of Vaud) Net debt Total debt net of cash and cash equivalents Net loan to value (LTV) ratio Ratio of net debt to the fair value of total real estate properties including the right - of - use of the land Net operating income (NOI) Rental income from real estate properties plus other income less direct expenses related to properties NOI margin NOI divided by total income Net rental income Rental income from real estate properties on the statement of profit or loss Net rental income yield (properties in operation) Net rental income of investment properties in operation divided by the fair value of investment properties in operation (classified as such) during the period (i . e . before any period - end transfers between categories) August 2026 - 33
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Glossary of Alternative Performance Measures Net rental income yield (total portfolio) Net rental income of the total portfolio divided by the fair value of total real estate properties Profit (excl . unrealised revaluation effects) Profit after tax before other comprehensive income excluding unrealised revaluation of properties and derivatives and related deferred taxes as well as any related foreign exchange effects Profit (excl . disposal and unrealised revaluation effects) Profit after tax before other comprehensive income excluding ( i ) unrealised revaluation of properties and derivatives and related deferred taxes as well as any related foreign exchange effects and (ii) any profit or loss on disposals and related tax effec ts Reported vacancy rate (properties in operation) Vacancy of the properties in operation divided by target rental income of the properties in operation (classified as such) during the period (i . e . before any period - end transfers between categories) for the reporting period Return on equity (incl . revaluation effects) Profit after tax before other comprehensive income divided by the average IFRS NAV Return on equity (excl . unrealised revaluation effects) Profit (excl. unrealised revaluation effects) divided by the average IFRS NAV Return on equity (excl . disposal and unrealised revaluation effects) Profit (excl. disposal and unrealised revaluation effects) divided by the average IFRS NAV Total debt Total of mortgage - secured bank loans and shareholders’ loans August 2026 - 34
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Glossary of Alternative Performance Measures Vacancy Sum of the target rental income of vacant units WAULT (weighted average unexpired lease term) Weighted average unexpired lease term (in number of years) calculated as the sum - product of lease maturities based on contract expiration and corresponding rental income divided by the total rental income, excluding early breaks, adjusted for rental contracts that terminated during the relevant financial period and with annualised contractual rental income for rental contracts that started during the relevant financial period August 2026 - 35
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