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Results Call Q3 2026 5 November 2026
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Disclaimer This document is for informational purposes only. This document is not intended to form the basis of any investment decision and should not be considered as a recommendation by DEMIRE Deutsche MittelstandReal Estate AG (the “Company”) or any other person in relation to the Company. This document does not constitute an offer to sell, a solicitation of an offer of the sale or purchase of securities or an invitation to purchase or tender for the Company. Securities of the Company shall not be offered or sold, in any jurisdictionin which such an offer, solicitation or sale would be unlawful. Certain information in this document is based on management estimates. Such estimates have been made in good faith and represent the current beliefs of management. Management believes that such estimates are founded on reasonable grounds. However, by their nature, estimates may not be correct or complete. Accordingly, no representation or warranty (express or implied) is given that such estimates are correct or complete. This document includes 'forward-looking statements'. Forward-looking statements are all statements which do not describe facts of the past but contain the words "believe", "estimate", "expect", "anticipate", "assume", "plan", "intend", "could", and words of similar meaning. These forward-looking statements are subject to inherent risks and uncertainties since they relate to future events and are based on current assumptions and estimates of the Company, which might not occur at all or occur not as assumed. They therefore do not constitute a guarantee for the occurrence of future results or performances of the Company. The actual financial position andthe actual results of the Company as well as the overall economic development and the regulatory environment may differ materially from the expectations which are assumed explicitly or implicitly in the forward-looking statements and do not comply to them. Therefore, investors are warned to base their investment decisions with respect to the Company on the forward-looking statements mentioned in this document. 2
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01 02 03 Table of Contents Portfolio highlights Executive summary Financial highlights
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01 Executive summary
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01 Executive summary 5 1) One small residential building on the property 2) After taxes, before minorities and shareholder loan interest Rental income ▪ Rental income with € 33.9m c. 18% lower compared to the previous period, primarily due to divestments over the course of the last year Transactions ▪ Closing of the disposals of four assets in Flensburg, Kempten, Frankfurt and Chemnitz plus one partial sale in Bonn1) for overall proceeds of over € 61m Successful execution of the disposal pipeline, guidance confirmed Processes ▪ Support of the main shareholders with their initiative to sell their stakes in the company ▪ Once again achieving the highest EPRA recognition for Sustainability and Financial Reporting FFO I ▪ FFO I2) at € 2.8m, reduction from € 8.3m mainly driven by declining rental income Guidance FY 2026 confirmed ▪ Rental income of € 42.5 – 44.5m and Funds from operations I2) of € 0.5 – 2.5m
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02 Portfolio highlights
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02 Portfolio highlights 7 Lower asset base impacts annualised contractual rents and letting performance Annualised contractual rent (€ m) 51.3 42.0 FY 2025 9M 2026 ▪ Reduction mainly driven by the smaller asset base following disposals throughout the last year and increased vacancy Letting performance (sqm) 56,200 34,110 9M 2025 9M 2026 ▪ Reduced portfolio also lowers potential for new lettings and prolongations, which is also reflected in the numbers for 9M 2026 ▪ Expectation to execute on strong leasing pipeline over the upcoming months
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02 Portfolio highlights 8 Occupancy rate impacted by two larger tenants moving out as well as disposals, WALT stable EPRA-Vacancy1) (%) 16.4 22.6 FY 2025 9M 2026 ▪ Increase of vacancy primarily a consequence of two assets becoming fully vacant since January 2026 and the disposal of two larger assets (Flensburg & Frankfurt) with very low vacancy levels Weighted average lease term (years) 4.7 4.6 FY 2025 9M 2026 ▪ WALT remains roughly stable on a level appropriate for a portfolio with office overweight 1) Excl. assets classified as project developments
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03 Financial highlights
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1. Lower profit from the rental of real estate mainly driven by disposals throughout the last year 2. No material devaluations in 9M 2026, previous year impacted by various adjustments of book values 3. Larger impairments in the comparative period on the “LIMES” loan, no material effects in 9M 2026 4. G&A expenses stable despite continued inflationary environment 03 Financial highlights 10 Shortened P&L statement & FFO-bridge: Lower profit a consequence of reduced portfolio, G&A expenses stable 9M 2026 (€ m) 9M 2025 (€ m) Change (%) Rental income 33.9 41.4 (18.1) Income from utility and service charges 9.9 9.6 2.6 Operating expenses to generate rental income (20.9) (23.1) 9.4 Profit / loss from the rental of real estate 1 22.9 27.9 (18.2) Profit / loss from fair value adjustments in properties 2 (0.4) (29.9) 98.7 Profit / loss from the sale of real estate (2.2) 0.7 <-100 Impairment of financial and other receivables 3a (1.1) (19.5) 94.1 Other operating income / expenses (net) (0.5) 0.5 <-100 General and administrative expenses 4 (7.8) (7.8) 1.1 Earnings before interest and taxes (EBIT) 10.9 (28.1) >100 Financial income 3.6 5.4 (33.1) Finance expenses (43.0) (41.2) (4.5) Earnings before taxes and minority interests (EBTM) (28.5) (63.8) 55.3 ± Profit / loss from the sale of real estate 2.2 (0.7) >100 ± Profit / loss from fair value adjustments in properties 0.4 29.9 (98.7) ± Other adjustments 3b 12.6 30.5 (58.6) FFO I before taxes, before min., after shareholder loan int. (13.3) (4.1) <-100 ± Interest on shareholder loan and (current) income taxes 16.0 12.5 28.8 FFO I after taxes, before min. and shareholder loan interest 2.8 8.3 (66.7) 1 2 3 4
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03 Financial highlights 11 Shortened balance sheet: cash position strengthened on the back of a number of disposals 9M 2026 (€ m) FY 2025 (€ m) Change (%) Investment properties 1 623.6 591.9 5.3 Non-current assets held for sale 2 15.3 103.5 (85.2) Lendings and financial assets 83.8 83.8 0.1 Other non-current assets 0.1 0.3 (87.1) Total non-current assets 722.8 779.6 (7.3) Other current assets 14.1 15.4 (8.1) Cash and cash equivalents 3 82.6 54.2 (52.3) Total current assets 96.7 69.6 39.0 TOTAL ASSETS 819.5 849.2 (3.5) Subscribed capital 105.5 105.5 0.0 Reserves 4 (3.0) 23.6 <(100) Equity attributable to parent company shareholders 102.5 129.1 (20.6) Non-controlling interests 22.0 21.7 1.5 TOTAL EQUITY 124.5 150.8 (17.4) Long-term financial and lease liabilities 470.7 437.2 7.6 Other non-current liabilities 132.4 136.2 (2.8) Total non-current liabilities 603.0 573.4 5.2 Short-term financial and lease liabilities 5 53.4 73.8 (27.6) Other current liabilities 38.5 51.2 (24.8) Total current liabilities 91.9 125.0 (26.5) TOTAL LIABILITIES 695.0 698.4 (0.5) TOTAL EQUITY AND LIABILITIES 819.5 849.2 (3.5) 1. Mainly driven by the reclassification of one larger asset from the held for sale-category 2. Disposal of five assets1) and the reclassification of one larger asset to the investment property-category lead to material reduction 3. Material disposal proceeds generated, strengthen cash balance 4. Decline as a consequence of negative profit for the period 5. Predominantly driven by the (partial) redemption of the mortgage loan secured with the asset in Flensburg 1 2 3 1) Incl. one partial sale 4 5
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03 Financial highlights 12 Net-LTV and Cost of debt slightly improved Net-LTV1) (%) 41.8 40.1 FY 2025 9M 2026 ▪ Disposal proceeds increase cash balance and improve Net-LTV Average cost of debt2) (% p.a.) 4.83 4.69 FY 2025 9M 2026 ▪ Average cost of debt slightly lower driven by the (partial) redemption of the loan secured with the asset in Flensburg 1) In accordance with bond 19/27 terms and conditions 2) In nominal terms, excl. shareholder loan interest
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Q&A 13
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Thank you! 14