Slides
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Capital Markets Day Zurich, 26 October 2026
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Agenda 26 October 2026Capital Markets Day 2026 2 01/ SPS at a glance 02/ Portfolio strategy and development update 03/ Asset Management 04/ Financial performance and Ambition 2030 05/ Data and AI demo 06/ Summary and trading update 07/ Q&A 08/ Appendix
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Agenda 26 October 2026Capital Markets Day 2026 3 01/ SPS at a glance Marcel Kucher
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line 01/ SPS at a glance SPS: One Integrated Platform. Two Complementary Pillars. All Real Estate Real Estate CHF 14.0 bn Investment Properties* 5%+ Return on Equity Resilient Swiss economy CHF 230.6 mn Rental income* Commercial Residential Asset Management CHF 14.8 bn Assets under Management* 25%+ Return on Equity CHF 40.0 mn Fee income* Commercial Residential * First-half 2026 26 October 2026Capital Markets Day 2026 4
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Transformation complete: The leading Swiss pure-play real estate player 26 October 2026Capital Markets Day 2026 5 01/ SPS at a glance Earnings profile 2019 45% 1% 10%10% 34% Rental income and development Asset Management fees Property Management Retail Assisted Living Earnings profile 2026* Rental income Asset Management fees85% 15% Building scale in Asset Management Strategic re-alignment 2022 Acquisition Akara 2024 Acquisition Fundamenta Operational businesses exited, focus on real estate and growth of asset-light business Strategic portfolio simplification 2020 Sale Tertianum 2023 Sale Wincasa 2025 Jelmoli retail exit * Indicative figures for FY 2026
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Resilient Swiss economy offers supportive backdrop for real estate… 6 01/ SPS at a glance Employment growth Indexed to 2000 Inflation Average consumer prices (%) Real GDP development Indexed to 2000 Sources: IMF, World Economic Outlook database Source: Bloomberg, Eurostat Source: Bloomberg, Seco, Eurostat 100 105 110 115 120 125 130 135 2000 2005 2010 2015 2020 2025 Switzerland Euro area 26 October 2026Capital Markets Day 2026 -1% 0% 1% 2% 3% 4% 5% 2000 2005 2010 2015 2020 2026 SNB ECB Policy rates 2000–2026 (%) 100 110 120 130 140 150 160 170 2000 2005 2010 2015 2020 2025 Switzerland Euro area -2% 2% 6% 10% 2000 2005 2010 2015 2020 2026E Switzerland Euro area
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line ⏤ “Flight to quality“ in office demand, with 10-year lease terms maintained despite decisions being taken closer to move-in ⏤ Growing demand for health- focused concepts and managed offices ⏤ Stable retail demand for high street and experience-led shopping centres ⏤ Strong investor demand supported by low rates and attractive spreads ⏤ While residential is driving transaction activity, prime commercial is benefiting from strong overall sector demand ⏤ Further yield compression driven by elevated transaction activity ⏤ Continued attractive rate levels, supported by low inflation and fiscal discipline ⏤ Favourable financing conditions across bonds and bank lending, with spreads of 60-90 bps ⏤ Policy rate at zero, with limited upward pressure ⏤ Stable institutional real estate allocations, supported by attractive yields and spreads ⏤ Strong inflows across Asset Management products and services ⏤ Continued outsourcing trend among pension funds … resulting in continued demand for Swiss real estate assets 7 Transactions Lettings Financing Fund Flows 01/ SPS at a glance 26 October 2026Capital Markets Day 2026
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Trading update 2026: Increased confidence to exceed guidance 01/ SPS at a glance 8 2026 financial targets FFO I 4.30 – 4.35 CHF per share <39% ~3.5% +CHF 1.2 bn 2026 operational targets LTV Vacancy rate Real Estate AuM Asset Management Previously 4.25-4.30 Confirmed Previously < 3.7% Previously +CHF 1.0 bn 26 October 2026Capital Markets Day 2026
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line 01/ SPS at a glance Building on our strengths: Strategic priorities drive resilient growth… Real Estate Asset Management 26 October 2026Capital Markets Day 2026 9 01 Continue focused capital upcycling to further enhance quality and resilience while capturing reversionary potential 02 Deliver on development and refurbishment pipeline, aiming for >1-1.5% yield spread 03 Capture new demand trends to strengthen portfolio resilience and accelerate l-f-l rental growth (managed offices and health) 01 Capture ~15% market share of pension fund real estate allocations 02 Leverage outsourcing trend among pension funds to secure discretionary mandates 03 Selective launch of new products and strengthen German platform Unparalleled proprietary data and AI-enabled capabilities Benefit from best-in-class people Economies of scale Platform leverage
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line 01/ SPS at a glance ... as the basis for our Ambition 2030 FFO I per share +15% (vs. 2026 guidance) CHF 530 mn+ rental income AuM CHF 23 bn+LTV < 39% ICR > 6.0x Around 3% vacancy rate CHF 130 mn+ fee income (of which ~70% recurring) Group Operating targets Asset Management 26 October 2026Capital Markets Day 2026 10 * Based on prevailing financing market expectations and an unchanged regulatory framework. Ambition 2030* Real Estate Financial targets
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Agenda 26 October 2026Capital Markets Day 2026 11 02/ Portfolio strategy and development update Marcel Kucher
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Portfolio strategy: Capital upcycling strengthens quality, resilience and growth 02/ Portfolio strategy and development update * Based on prevailing financing market expectations and an unchanged regulatory framework. 01 Continue focused capital upcycling to further enhance quality and resilience while capturing reversionary potential 02 Deliver on development and refurbishment pipeline aiming for >1-1.5% yield spread 03 Capture new demand trends to strengthen portfolio resilience and accelerate l-f-l rental growth (managed offices and health) Key strengths ⏤ Prime locations in Switzerland’s leading economic centres ⏤ Highest-quality commercial portfolio of significant scale ⏤ Diversified tenant and use mix with focus on office ⏤ Supported by Switzerland’s resilient economy ⏤ Attractive development and refurbishment pipeline ⏤ Market-leading sustainability standards across the portfolio ⏤ Deep market expertise and comprehensive in-house capabilities Strategic priorities ~3% vacancy rateRental income CHF 530 mn+ Ambition 2030* Real Estate 26 October 2026Capital Markets Day 2026 12
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Office-led portfolio in prime locations with diversified use and Tier 1 tenants 26 October 2026Capital Markets Day 2026 02/ Portfolio strategy and development update Tenant split as at 30.06.2026 21 % 30 % 49% Share of rental income Top 30: 51% Top 5 . ~2,000 tenants 100% Portfolio split as at 30.06.2026 Selected top tenants 13 Location split as at 30.06.2026 51% 19% 9% 6% 6% 5% 3% 1% Office Retail Logistics Hotels Parking Assisted living Other Residential 20% Lake Geneva 8% Berne 12% Northwestern Switzerland 57% Zurich and Central Switzerland
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Capital upcycling I: Portfolio quality and locations significantly enhanced 26 October 2026Capital Markets Day 2026 14 Note: Source Wüest Partner as per 31/12/2022 and 30/06/2026, respectively. 02/ Portfolio strategy and development update Portfolio matrix end-2022 This slide contains the following visuals: scatterChart. Please refer to the notes on this slide for details Location quality good good poor Object quality 99% in excellent locations 88% in excellent locations Location quality good good poor Object quality Portfolio matrix end-June 2026
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Capital upcycling II: Clustering larger locations with increased proximity to CBD 26 October 2026Capital Markets Day 2026 15 Note: Calculated as average distance to next train stations with Intercity stop across portfolio as per 31/12/2020 and 30/06/2026. 02/ Portfolio strategy and development update Portfolio proximity end-2020 Portfolio proximity end-June 2026 ― Disposals of small assets (<CHF 20 mn), unless part of larger cluster ― Portfolio’s proximity to nearest InterCity train station increased by 17% ― Tenant survey 2026 supports increased portfolio quality: 85.5% cite location as key to renewal (+4.5% vs. benchmark) Proximity +17%
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Capital Markets Day 2026 02/ Portfolio strategy and development update Capital upcycling III: Significant improvement across all dimensions L-f-l rental growth (real) & vacancy rate (in %) Average contracted rent/sqm* (in CHF) EPRA cost ratio (in %) 296 334 393 496 2021 H1 2026 Office Retail Growth 21.9% 17.5% 2021 H1 2026 1626 October 2026 2021 2022 2023 2024 2025 4.6% 3.5% L-f-l rental growth (real) Vacancy rate * Excl. intra-group rent 0.8% 1.6% +26.2%+12.8% -4.4 pp 2026E 16
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Ongoing construction projects to deliver more than CHF 50 mn top line with 1.5% yield spread 02/ Portfolio strategy and development update 1 Investment volume: Renovation costs for Fraumünsterpost, Alpes One and Jelmoli, development costs excl. land for YOND Campus. 2 Total object target rent 3 Return on incremental investment Project Investment (CHF mn)1 Target rent (CHF mn)2 Letting status Return on Investment3 Fraumünsterpost Alpes One YOND Campus Destination Jelmoli ~30 ~6 ~4.0% 100% pre-let ~15 ~4 ~7.0% 100% pre-let ~150 (100% contracted) ~9 ~4.5% ~50% pre-let ~245 (95% contracted) ~33 ~3.3% ~50% pre-let Timeline 2026 2027 2028 2029 Planned completion in Spring 2027 Planned completion in Summer 2027 Staged completion from Summer 2028 Staged completion from late 2028 Capital Markets Day 2026 1726 October 2026 17
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Upcoming developments – focus on refurbishments 02/ Portfolio strategy and development update Project Investment (CHF mn)1 Letting status Stücki HO70 Maag Centre Carouge ~60-70 ~85% LoI ~60 100% LoI with Universität Zürich ~60-80 Planning ongoing for mixed use ~45-55 Planning ongoing for mixed use Timeline 2026 2027 2028 2029 Züri 11 1Approximate plan figures, investment totals excluding existing value. 2030 2031 Planning ongoing Planning ongoing Planned completion from 2031 Planned completion from 2030 Staged completion from 2028 Planning ongoing Planning ongoing Planned completion in January 2033 Capital Markets Day 2026 1826 October 2026 18
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Destination Jelmoli with significantly increased visibility Concept and construction project − Premium mixed-use transformation of iconic Jelmoli building for top-tier office (45%), retail (40%) and leisure (15%) Latest developments / milestones − Foundation work completed; structural refurbishment progressing as planned − Procurement largely secured, with around 95% contracted (excluding interior fit-out) − Costs expected at CHF 245 mn on back of more profound structural work than anticipated − Office marketing launch planned for 2028 26 October 2026Capital Markets Day 2026 19 Note: Approximate plan figures, investment totals excluding existing value. Visualisations: exterior view of Bahnhofstrasse and Uraniastrasse. Status Under construction, 95% contracted (excl. interior fit-out) Investment volume CHF ~245 mn Expected rent / RoI CHF 33 mn; 3.3% (vs. <2.0% market yield at completion) Letting status ~ 50% pre-let (95% of retail and 100% of leisure); office to follow Schedule Staged completion starting from late 2028 Sustainability SGNI Gold 02/ Portfolio strategy and development update
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Managed offices: Capturing structural demand in the Swiss office market 26 October 2026Capital Markets Day 2026 20 02/ Portfolio strategy and development update Inspiration: London Growth of Central London managed office space in 2020-2025 8% 582% of London office stock comprises flexible workspace sector 63% Share of managed office take-up of all flexible space ~5% 12 – 15% 1 Prime locations High-quality, central office locations 2 Minimal upfront capex Capital-light solutions, fitted and furnished 3 Turnkey solutions Facilities, workplace management and IT 4 Experience Premium design, amenities, social exchange 5 Medium-term, all-in-one contracts 3- to 5-year contracts, all-in pricing Share of Zurich CBD office space Expected growth p.a. Emerging opportunity also for Switzerland Inspiration: London Structural demand for managed offices Source: JLL, Managed offices – from void to value, July 2026. Source: H & B Market report Serviced office Zurich, May 2026, Internal assessment based on Wüest Partner sector review.
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Snapshot ⏤ Leading provider of managed / serviced office solutions in Switzerland (~20% market share) ⏤ Founded in 2015, operating across 11 locations in Zurich, Geneva, Basel and Berne with 25 FTEs ⏤ Diversified client base (mostly larger scale-ups and branches of large Swiss and global players) seeking ‘no hassle’ solutions with all-in costs FlexOffice acquisition captures structural growth in managed offices Capital Markets Day 2026 21 02/ Portfolio strategy and development update 26 October 2026 x2 CLASSIC Classic prime office space, tailored to individual needs; long-term lease agreements MANAGED Fitted, furnished and connected; short- to mid-term agreements PLUG & PLAY | Furnished, work-ready office space, excluding service packages FULLY MANAGED| Furnished, work-ready office space, including service packages FLEX Flexible co-working and shared workspace solutions, including services; short-term agreements *Net impact reflects full consolidation of FlexOffice, partially offset by elimination of previously recognized rental income. Strategic rationale ⏤ Captures structural growth in demand for managed offices and additional income potential ⏤ Extends SPS’ offering across the full office spectrum ⏤ Unlocks synergies across space, services and client relationships; accelerates time-to-market ⏤ Strong strategic and cultural fit, supported by an established partnership Key transaction terms ⏤ Acquisition of remaining shares in FlexOffice; increasing ownership to 100% (33% at HY 2026) ⏤ Transaction expected to close in 4Q2026 ⏤ All employees from FlexOffice will remain onboard ⏤ FlexOffice to continue operating as standalone company under own brand within SPS’ Real Estate segment Ambition 2030 Expected impact 2027E, in CHF mn XO Revenues Net impact* ~20 ~10 Office offering
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Health segment offers growth opportunities and attractive value 26 October 2026Capital Markets Day 2026 22 * Based on prevailing financing market expectations and an unchanged regulatory framework. 02/ Portfolio strategy and development update Structural market opportunity ⏤ Increasing demand driven by current megatrends of longevity and ageing population, as well as rising awareness around health and wellbeing and a focus on mental health ⏤ Efficient reuse of traditional office space with limited incremental capex – requiring a targeted and differentiated letting approach Attractive economics ⏤ Attractive rental levels ⏤ Resilient demand, supported by local patient base and lower sensitivity to economic cycles Up to 20% Rental uplift vs. traditional leases Portfolio Snapshot as at 30.06.2026 93% 7% ~7% Exposure to health use ~10% Exposure to health use Ambition 2030* Healthcare tenants Healthcare tenant composition − 5% assisted living − 2% alternative use of office space, mainly for medical practices
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Unlocking value and income potential beyond traditional office with health use 26 October 2026Capital Markets Day 2026 23 02/ Portfolio strategy and development update ⏤ Repurposes around 700m² of existing office space ⏤ Requires minimal capital investment ⏤ Delivers a high-quality fit- out ⏤ Supports tenant retention through a local patient base ⏤ Long-term rental contract with attractive conditions vs. conventional office use Case study: General practitioner clinic ― Complementing existing cluster around Aeschenplatz ― 40% health focused, 60% office space ― 100% let with rent of ~ CHF 1.6 mn (>4% net yield) ― Off-market transaction ― Signed on 22 October, closing expected year-end 2026 Example: Acquisition in Basel
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Agenda 26 October 2026Capital Markets Day 2026 24 03/ Asset Management Anastasius Tschopp
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line SPSS: Largest Swiss independent asset manager with multiple growth pillars 26 October 2026Capital Markets Day 2026 25 03/ Asset Management 01 Capture ~15% market share of pension fund real estate allocations 02 Leverage outsourcing trend among pension funds to secure discretionary mandates 03 Selective launch of new products and strengthen German platform Key strengths ⏤ Largest Swiss independent real estate asset manager; CHF ~15.5 bn* AuM across 3 pillars ⏤ Over 2,600 investors (650 pension funds); established structures in Germany and Luxembourg ⏤ Swiss pension system as key AuM driver ⏤ Stable fee structure with built-in share of economies of scale; more than 65% recurring fees Strategic priorities CHF AuM 23bn Fees CHF 130 mn+ (of which ~70% recurring) Ambition 2030* Asset Management * Based on prevailing financing market expectations and an unchanged regulatory framework.
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Comprehensive real estate solutions for institutional investors Note: 1H 2026 figures. Real Estate Advisory – Bespoke – Fund Management – Discretionary – Asset Management – Fiduciary – Bespoke solutions, mandates and services for third- party clients Currently 13 mandates across three client categories: ⏤ Consultancy mandates for PF clients (ASGA, BASF , Edifondo, among others) ⏤ Consultancy mandate “RE Direct” (private and institutional investors) ⏤ Fundamenta promotions (development of condominiums) Real estate investment advice for third-party clients OPSC-regulated products: ⏤ Swiss Prime Investment Foundation (SPA) ⏤ FG Investment Foundation (FGIF) ⏤ BaFin-regulated: ⏤ FG Wohnen Deutschland (FGWD) Listed products (SIX): ⏤ Fundamenta Real Estate AG (FREN) Regulated collective investment products FINMA-regulated: ⏤ Akara Swiss Diversity Fund PK (ADPK) ⏤ Investment Fund Commercial (IFC) CSSF-regulated: ⏤ FG Wohninvest Deutschland (FGWI) SICAV CHF 2.7 bn AuMCHF 7.5 bn AuMCHF 4.6 bn AuM 26 October 2026Capital Markets Day 2026 26 03/ Asset Management +0.2 bn vs 2025 +0.2 bn vs 2025 +0.1 bn vs 2025
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line SPSS as leading independent real estate asset manager 26 October 2026Capital Markets Day 2026 27 *Swiss real estate asset managers, based on assets under management for direct real estate investments. Figures are based on the latest available information and estimates. 03/ Asset Management Swiss real estate asset managers* AuM in CHF bn 0 10 20 30 40 50 60 70 Banks / Insurance Providers Independent Competitors 0% 2% 4% 6% 8% 10% 12% Peer 7 Peer 6 Peer 5 Peer 4 Peer 3 Peer 2 SPSS Peer 1 Ø 21-25 2025 SPSS market share in % of transaction volume SPSS 14.8 SPSS
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Swiss pension fund system as the key driver of recurring income 26 October 2026Capital Markets Day 2026 28 1 Average net contributions between 2022-2024. 03/ Asset Management 4.8 mn insured and employed + CHF 17 bn1 net contributions p.a. Equities 30% Bonds 27% Alternatives 8% Other 8% Cash 4% 23% Real Estate allocation Source: Federal Statistical Office (BFS) Note: Data as of 2024 (latest available). AuM CHF 1.1 trillion 0.9 mn retired (pensioners)direct and collective investments Share of Real Estate: ~ CHF 4-5 bn Share of SPSS: ~CHF 700 mn+ 1,300 Pension funds in Switzerland Share of SPSS: ~ 650 pension funds 15% SPSS market share
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line SPSS can grow along three complementary levers 26 October 2026Capital Markets Day 2026 29 1 SPSS estimate based on BFS Pensionskassenstatistik 2024 and Complementa Risiko Check-up 2025. 2 SPSS estimate based on BFS Pensionskassenstatistik 2000 and Complementa 2025. 3 Public transactions 2022–2026. AuM figures rounded. 03/ Asset Management 1 Organic growth in Swiss market 2 Leverage the outsourcing trend 3 New products and platform expansion Three complementary levers: More capital from existing channels, new mandate clients, selective product and platform expansion ~CHF 1 bn additional AuM p.a. ~15% share of equity raisings by Swiss real estate investment vehicles ~CHF 0.7 bn equity p.a. 30% leverage Broad product range and >2,500 investors, of which ~650 pension funds > CHF 100 bn Swiss real estate held directly by pension funds1 86% → 46% Direct share of pension funds' Swiss real estate, 2000–20242 Drivers: regulation, net-zero pathways, ESG reporting, consolidation of pension funds SPSS track record: 13 bespoke mandates (CHF 2.7 bn AuM) Upside: hard to plan, but single mandates of up to ~CHF 1 bn observed in the market3 Club deals Co-investment structures for selected investors Larger-scale developments Promotion projects at greater scale French-speaking Switzerland Broaden presence and product offering German platform Strengthen and scale established platform
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Ambition 2030: Organic growth of over CHF 1 bn p.a., CHF 23 bn+ AuM 26 October 2026Capital Markets Day 2026 30 1 New money is presented based on fee-relevant capital inflows realised during the respective period. Issuances with settlement after the reporting date are excluded until drawn. Prior-period figures have been restated accordingly. Includes capital increases of Akara and Fundamenta since their acquisition. 2 Indicative figure for FY 2026 03/ Asset Management Capital inflows¹ in CHF mn (excl. leverage) 43 462 918 521 ~800 153 50 70 196 512 988 952 2023 2024 2025 1H 2026 Ambition 2030 New Money New mandates and contributions in kind 431 CHF 1 bn+ per year Assets under management in CHF bn 8.4 13.3 14.3 15.5 2023 2024 2025 2026 +50% CHF 23 bn 2026E2 Ambition 2030
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Agenda 26 October 2026Capital Markets Day 2026 31 04/ Financial performance and Ambition 2030 Martina Moosmann
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Resilient growth through distinct focus and common platform 26 October 2026Capital Markets Day 2026 32 04/ Financial performance and Ambition 2030 Capital upcycling and capturing reversion Delivering on developments Capture new demand trends Real Estate Capture market growth Launching new products / geographies Asset Management Prudent balance sheet Data and AI Economies of scale Platform focus Resilient growth Securing discretionary mandates Best-in-class people
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Key financial and operating targets and Ambition 2030 26 October 2026Capital Markets Day 2026 33 04/ Financial performance and Ambition 2030 2025A 2026 guidance Previous ambition Ambition 20302 Group FFO 1 / share CHF 4.22 CHF4.30–4.35 ~10% growth (by 2028) 15%+ growth vs. 2026 guidance ICR / LTV1 8.0x / 38.1% <39% n.a. >6.0 x / <39% Real Estate Rental income CHF 456.8 mn n.a. CHF 500 mn+ (by 2028) CHF 530 mn+ Vacancy rate 3.7% ~3.5% n.a. ~3% Asset Management AuM CHF 14.3 bn +CHF 1.2 bn CHF 16 bn (by 2027) CHF 23 bn+ Fees CHF 83.6 mn (ca. 66% recurring) n.a. n.a. CHF 130 mn+ (ca. 70% recurring) 1 LTV of real estate division as reported. 2 Based on prevailing financing market expectations and an unchanged regulatory framework. Operating targets Financial targets
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Driving scale benefits on a broadly flat cost base 26 October 2026Capital Markets Day 2026 34 04/ Financial performance and Ambition 2030 22% 20% 18% 17% 18% 17% ~16%* EPRA cost ratioNumber of buildings C a p i t a l u p c y c l i n g w i l l k e e p n o . o f b u i l d i n g s r o u g h l y s t a b l e Real Estate Asset Management 184 176 159 139 132 127 2021 2022 2023 2024 2025 H1 26 Ambition 2030 *Excluding effects from FlexOffice / Managed Office products. 54% 41% 42% 41% 34% 35% ~33% 5.9 7.7 8.4 13.3 14.3 14.8 23.0+ 2021 2022 2023 2024 2025 H1 26 Ambition 2030 AuM (in CHF bn) Cost ratio (Segment)
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line 26 October 2026Capital Markets Day 2026 35 04/ Financial performance and Ambition 2030 35 ⏤Continued strong l-f-l rental growth ⏤Development deliveries along defined pipeline ⏤Contribution from newly initiated products (FlexOffice, “health” tenants) Rental income bridge in CHF mn ~30 ~(5) ~35 ~15 Net rent 2025 Net rent 2030 New productsDevelopmentsL-f-l growth Acquisitions/ Disposals 457 530+ Real Estate: Strategic priorities accelerate rental growth
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line 26 October 2026Capital Markets Day 2026 36 04/ Financial performance and ambition 2030 36 ⏤Continued recurring growth from pension fund real estate allocations ⏤New discretionary mandates resulting from pension fund outsourcing trends ⏤Selective launch of new products incl. further strengthening of German platform Fee income bridge in CHF mn Fee income 2025 Fee income 2030 New products/ geographical expansion Market growth Growth transactions 84 130+ Asset Management: Sustainable growth driven by recurring fee income ~25 ~10 ~10 Recurring 66% Recurring 70% Non-recurring 34% Non-recurring 30%
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Consolidated financing structure Continuation of our prudent financing strategy 1H 2026 Ambition 2030 Investment properties 14 005 of which unencumbered 85% Financial liabilities (Real Estate segment) 5 604 of which fixed interest rate 84% Net financial liabilities¹ (Real Estate segment) 5 588 LTV (net) 39.9% ICR 8.2x Ø interest rate 0.83% Ø maturity 4.0 years 26 October 2026Capital Markets Day 2026 37 04/ Financial performance and Ambition 2030 Financing parameters in CHF mn 1Net of cash and cash equivalents. ICR: >6.0 x LTV: <39% Secured mortgages 11% Unsecured loans 36% Convertible bonds 6% Unsecured bonds 47% 89% unsecured A3 stable ⏤CHF ~700 mn unused credit lines ⏤CHF 450 mn bond maturities in 2027 ⏤Return to EUR market in 2027 subject to market conditions
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Delivering cash flow for an attractive dividend upside 26 October 2026Capital Markets Day 2026 38 04/ Financial performance and Ambition 2030 Funds From Operations I (FFO I) bridge (CHF per share) 4.30 -4.35 Property portfolio growth Asset Management Growth Efficiency, Scale & AI 2030 Aspiration2026 Guidance Unchanged Dividend Policy: 80-90% of FFO I ~8% ~5% ~2% 15%+ Growth Potential ~15% AM contribution
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Agenda 26 October 2026Capital Markets Day 2026 39 05/ Data and AI demo Marcel Kucher
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line 26 October 2026Capital Markets Day 2026 40 05/ Data and AI demo Turning proprietary data into competitive advantage What we have How we activate it What it creates ― CHF 28 bn+ AuM ― ~2,500 transactions p.a. ― >2,600 investors ― Extensive tenant data (~10,000 tenants) ― Deep real estate expertise ― SPS One Lake as integrated, cloud-native and governed data foundation, combining information from transactions, letting, valuations, tenant interactions, property and sustainability reporting, ERP/accounting, HR, etc. ― Scalable data products across assets, portfolios and clients ― AI-enabled workforce ― Live market insights ― Differentiated client experience ― Enhanced productivity and value-add focus ― New digital products and service experiences Competitive advantageOne Lake and data products Developed since 2024Unique data foundation
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line From early AI adoption to enterprise-wide impact 26 October 2026Capital Markets Day 2026 41 05/ Data and AI demo 1.CUSTOMER 2.DATA 3. PRODUCTIVITY Since August 2026 Number of AI-Agents > FTEs Since 2023 Exclusivity on our data Business-led innovation Dedicated AI factory Decision speed and quality Data insights Tenant experience Investor value add Best-in-class cost efficiency AI
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line AI-powered analysis Manual 40 h ~300 physical documents Searchable 24 h ~10 GB of data to screen Automated 4 h Human validation Case study I: From manual screening to AI-augmented decisions 26 October 2026Capital Markets Day 2026 42 05/ Data and AI demo 10x More/faster Better decisions Scalable across products Digital searchManual review
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Case study II: From bi-annual reporting to real-time engagement 26 October 2026Capital Markets Day 2026 43 05/ Data and AI demo Printed prospectuses Periodic reporting Static information Corporate websites Investor portals Searchable content AI-powered interactions Real-time insights Personalised Live insights Interactive Experience Intelligent engagementDigital accessStatic information
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Agenda 26 October 2026Capital Markets Day 2026 44 06/ Summary and trading update Marcel Kucher
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line 06/ Summary and trading update Recap: Building on our strengths: Strategic priorities drive resilient growth… Real Estate Asset Management 26 October 2026Capital Markets Day 2026 45 01 Continue focused capital upcycling to further enhance quality and resilience while capturing reversionary potential 02 Deliver on development and refurbishment pipeline, aiming for >1-1.5% yield spread 03 Capture new demand trends to strengthen portfolio resilience and accelerate l-f-l rental growth (managed offices and health) 01 Capture ~15% market share of pension fund real estate allocations 02 Leverage outsourcing trend among pension funds to secure discretionary mandates 03 Selective launch of new products and strengthen German platform Unparalleled proprietary data and AI-enabled capabilities Benefit from best-in-class people Economies of scale Platform leverage
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line 06/ Summary and trading update ... as the basis for our Ambition 2030 FFO I per share +15% (vs. 2026 guidance) CHF 530 mn+ rental income AuM CHF 23 bn+LTV < 39% ICR > 6.0x Around 3% vacancy rate CHF 130 mn+ fee income (of which ~70% recurring) Group Operating targets Asset Management 26 October 2026Capital Markets Day 2026 46 * Based on prevailing financing market expectations and an unchanged regulatory framework. Ambition 2030* Real Estate Financial targets
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Agenda 26 October 2026Capital Markets Day 2026 47 07/ Q&A Marcel Kucher
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Contact for investors and analysts Christian Hepp Head Corporate Finance, Treasury & Investor Relations Business: +41 58 317 15 25 christian.hepp@sps.swiss Corporate calendar Results – full-year 2026 11 February 2027 Annual General Meeting 11 March 2027 Results – half-year 2027 22 July 2027 26 October 2026 48 Geneva Office Swiss Prime Site AG Rue du Rhône 54 CH-1204 Geneva Zurich Office Swiss Prime Site AG Prime Tower Hardstrasse 201 CH-8005 Zurich Headquarters Swiss Prime Site AG Poststrasse 4a CH-6300 Zug Phone: +41 58 317 17 17 www.sps.swiss Capital Markets Day 2026 06/ Summary and trading update Contact for media Patrick Friedli Head Group Communications Business: +41 58 317 17 75 patrick.friedli@sps.swiss
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Agenda 26 October 2026Capital Markets Day 2026 49 08/ Appendix
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Snapshot: Fraumünsterpost Concept and construction project ⏤ Fraumünsterpost, a landmark property in central Zurich, has been undergoing extensive refurbishment since 2025, while Lidl continues to operate as ground-floor retail tenant during construction. ⏤ Value-enhancing refurbishment with upgraded building services, improved energy efficiency, earthquake retrofitting and circular-economy renovation measures ⏤ 8,590 m² rental space, comprising 75% office, 15% retail and 10% warehouse use Latest developments / milestones ⏤ Circular-economy refurbishment with 350 m³ of high-quality building components upcycled ⏤ Modernised common areas and upgraded office space in a prime central location 26 October 2026Capital Markets Day 2026 50 Note: Approximate plan figures, investment totals excluding existing value. Status Under construction Investment volume CHF ~30 mn Expected rent / RoI CHF ~6 mn / 4.0% (Return on incremental investment) Letting status 100% pre-let Schedule Planned completion in Spring 2027 Sustainability BREEAM In-Use 08/ Appendix Outside and inside images after the refurbishment
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Snapshot: YOND Campus Concept and construction project ⏤ Modular campus comprising two new buildings and one refurbished existing asset ⏤ Positioned for industrial and life-sciences users, complemented by commercial uses ⏤ 35,000 m² rental space: 60% light manufacturing, 30% office and 10% parking, amenities and gastronomy Latest developments / milestones ⏤ Robust leasing momentum with agreements signed with Züriwerk Foundation, Turbinenbräuand Eberle Engineering ⏤ Site preparation and joint carparks completed; YOND 02/03 above-ground construction underway 26 October 2026Capital Markets Day 2026 51 Status Under construction Investment volume CHF ~150 mn (100% contracted) Expected rent / RoI CHF ~9 mn / 4.5% Letting status ~50% pre-let Schedule Staged completion from Summer 2028¹ Sustainability SGNI Gold and Silver 08/ Appendix Visualisations: Production on the ground floor and exterior view of YOND.03 and .02 YOND.02 under constr uction YOND.03 under constr uction Note: YOND 02/03 is currently under construction and expected to be completed in Summer 2028. Letting status refers to YOND 02/03/04; Investment volume refers to entire project including YOND 02/03/04. Approximate plan figures, investment totals excluding existing value.
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Snapshot: Stücki HO70 Concept and construction project ⏤ Stücki HO70 project transforms an existing property at Stücki Park Basel to meet future needs. ⏤ The redevelopment will create modern, future-ready spaces while enhancing the appeal of one of northwestern Switzerland’s most dynamic development areas. ⏤ Combined with its attractive location in the Basel border region, the sustainable redevelopment of the existing property and the continued growth of Stücki Park, HO70 offers compelling potential for sustainable capital appreciation and long-term returns. Latest developments / milestones ⏤ A letter of intent with a public institution is already in place for approximately 85% of the lettable area. ⏤ Targeted upgrades to the existing building structures conserve resources and make optimal use of existing infrastructure 26 October 2026Capital Markets Day 2026 52 Note: Approximate plan figures, investment totals excluding existing value. Status Start construction 2027 Investment volume CHF ~60-70 mn Expected rent/RoI Not disclosed Letting status ~ 85% LoI Schedule Staged completion from 2028 Sustainability BREEAM In-Use 08/ Appendix Images: Entrance to Stücki Park and green façade.
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Snapshot: Maag Concept and construction project ⏤ Creating the basis for a sustainable and broadly supported development of the Maag site as a cultural centre within Zurich’s industrial district ⏤ Transformation of the Maag halls into a year-round cultural destination with exhibition and event spaces – all while maintaining the historic Maag buildings ⏤ Under the current plans, the Maag halls would contain exhibition and event spaces, which would be complemented by a publicly accessible atrium in the Lichtstrasse area Latest developments / milestones ⏤ A Letter of Intent has been signed with the University of Zurich as a possible new location for the Natural History Museum. ⏤ The current lease agreement with Maag Music & Arts for the temporary use of the Maag halls was recently extended by mutual agreement until the end of May 2029 ⏤ The pending appeal related to the “Maaglive” was withdrawn 26 October 2026Capital Markets Day 2026 53 Note: Approximate plan figures, investment totals excluding existing value. Status Planning started Investment volume CHF ~60 mn Expected rent/RoI Not disclosed Letting status 100% LoI Universität Zürich Schedule Planning ongoing Sustainability BREEAM In-Use 08/ Appendix Outside and inside images after the refurbishment
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•Erstellt durch Vorlagen bau er.ch Captions No Content above this line Headline on max. 1 line Disclaimer 26 October 2026Capital Markets Day 2026 54 Details published in this presentation are for information purposes only and should not form the basis for any investment decisions or recommendations to purchase Swiss Prime Site AG securities. The content of this presentation was diligently researched and compiled. However, Swiss Prime Site AG accepts no liability for the accuracy, completeness or currency of the details provided 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 in this presentation. This presentation may contain certain forward-looking statements, which can in some cases be identified by the use of words such as «believe», «intend», «estimate», «assume», «expect», «forecast», «plan», «can», «may», «should» or similar expressions. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could result in the actual results, financial situation, developments or services of Swiss Prime Site AG deviating significantly from those directly or indirectly referred to in the forward-looking statements. Due to these uncertainties, investors should not rely on these forward-looking statements. Swiss Prime Site AG cannot guarantee that opinions contained in this presentation and any forward-looking statements will turn out to be accurate. For this reason, Swiss Prime Site AG accepts no responsibility or obligation to release any public updates to these forward-looking statements or to adjust them to future events, developments or expectations of Swiss Prime Site AG on which these forward-looking statements were based.