Slides
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Office property ‚EUREF-Campus‘ Berlin Conference Call H1 2025 5 August 2025
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Key figures H1 2025 Key Figures H1 2025 H1 2024 Change From the income statement Income from rents and leases €45.7m €46.7m -2.1% Operating result €10.5m €13.7m -23.5% Period result €6.5m €7.6m -13.9% Key earnings figures Funds from Operations (FFO) €24.9m €28.3m -12.1% Funds from Operations (FFO) per share €0.31 €0.35 -12.1% Key Figures 30 June 2025 31 December 2024 Change Key financial figures REIT Equity Ratio 55.0% 55.2% -0.2%-pts Loan to Value (LTV) 44.3% 43.7% +0.6%-pts EPRA Net Asset Value (NAV) per share €9.51 €9.79 -2.9% EPRA Net Tangible Assets (NTA) per share €9.51 €9.79 -2.9% Operational key figures EPRA vacancy rate 3.5% 2.8% +0.7%-pts WALT 5.7 years 5.8 years -0.1 years 2
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Rent development like-for-like (year-on-year)1 Rent development 3 Development of annualized rents (year-on-year) Property disposals Re-lettings/ Vacancy change €90.5m -€0.8m -€3.2m €88.6m Annualized rents 30 June 2024 Annualized rents 30 June 2025 -0.9% -3.5% Indexation +€2.1m +2.4% 1 Point-in-time calculation (30 June 2025 vs. 30 June 2024); acquisitions and disposals excluded; rounding differences possible Asset class Total portfolio Investment approach Retail Office Split Core Manage-to-Core Total rents +1.0%-pts +2.0%-pts +1.4%-pts +1.8%-pts -3.9%-pts Indexation effects +1.6%-pts +3.4%-pts +2.4%-pts +2.4%-pts +2.6%-pts Follow-up Leases / Step rents -0.3%-pts -1.9%-pts -1.0%-pts -1.0%-pts -0.5%-pts Vacancy changes -0.2%-pts +0.4%-pts +0.1%-pts +0.4%-pts -6.0%-pts
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Funds from Operations (FFO) in k€ H1 2025 H1 2024 Change Income from rents and leases 45,651 46,650 -2.1% Income from passed on costs 5,538 6,449 -14.1% Operating expenses -10,341 -10,660 -3.0% Maintenance expenses -3,527 -2,780 +26.9% Net rental income 37,321 39,659 -5.9% Administrative expenses -1,111 -950 +17.0% Personnel expenses -3,955 -3,443 +14.9% Other operating income 797 302 n/a Other operating expenses -1,969 -1,112 +77.1% Interest expenses -6,730 -7,002 -3.9% Interest income 531 842 -36.9% FFO 24,884 28,296 -12.1% Capex -283 -970 -70.8% AFFO 24,601 27,326 -10,1% FFO per share in € 0.31 0.35 -12.1% AFFO per share in € 0.30 0.34 -10.1% Comments 1 2 ▪ Decline mainly due to strategic asset disposals ▪ Expenses relate to ongoing maintenance and various implemented or recently initiated measures. Increase due to comparatively low costs in H1 2024 Increase primarily due to higher license fees for software in connection with implementation of the digitalization strategy Increase mainly results from further expansion of staff Increase predominantly results from de- recognition of an operative liability (€0.4m) Increase mainly due to higher expenses for implementation of strategic and regulatory initiated projects (incl. IT & sustainability) ▪ Reduction essentially driven by repayment of bonded loan as well as loans associated to sold assets ▪ Reduced interest income mainly results from lower interest rates for overnight cash deposits 1 2 3 4 67 4 4 3 6 7 5 5 8 8
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Recent disposals Asset class Office Retail (High-Street) Office Year of acquisition 2001 2016 2008 Leased area ~1,300 m2 ~13,500 m2 ~3.800 m2 Annualized rent ~€0.3m ~€2.3m ~€0.6m Recent fair value ~€5.8m ~€21.0m ~€6.5m Selling price ~€8.0m ~€20.9m ~€6.5m Transfer of posession 18 December 2024 1 April 2025 1 April 2025 Hamburg Lübeck Osnabrück Disposal of two smaller office properties as part of active portfolio management Sale of the last remaining high-street retail property in Lübeck – completion of strategic sales activities 2024 2025 5
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Portfolio key metrics as of 30 June 2025 6 Overall stable development of portfolio KPIs Development of portfolio value affected by recent property disposals (€-27.4m) as well as individual value adjustments for four office and retail assets (€-7.3m) Asset class Total portfolio Investment approach Retail % Office % Split Core % Manage-to-Core1 % Number of properties 38 59.4% 26 40.6% 64 59 92.2% 5 7.8% Fair Value €801.3m 57.0% €605.0m 43.0% €1,406.3m €1,326.3m 94.3% €80.1m 5.7% Leased area 379,111 m² 62.8% 224,562 m² 37.2% 603,673 m² 555.283 m² 92.0% 48,390 m² 8.0% Annualized rent €49.8m 56.2% €38.8m 43.8% €88.6m €83.6m 94.4% €5.0m 5.6% Annualized rental yield 6.2% 6.4% 6.3% 6.3% 6.2% EPRA vacancy rate 1.2% 6.1% 3.5% 2.1% 21.7% WALT 6.9 years 4.1 years 5.7 years 5.9 years 2.5 years Like-for-like development 30 June 2025 to 30 June 20242 Rents +1.0%-pts +2.0%-pts +1.4%-pts +1.8%-pts -3.9%-pts EPRA vacancy rate +0.8%-pts +1.2%-pts +1.0%-pts +0.7%-pts +4.8%-pts WALT -0.6 years -0.5 years -0.6 years -0.6 years -0.3 years 1 Manage-to-Core portfolio includes office properties in Stuttgart, Ingolstadt, Darmstadt and Bremen (Herrmann-Köhl-Strasse) as well as the retail property in Hallstadt 2 Point-in-time calculation (30 June 2025 vs. 30 June 2024); acquisitions and disposals excluded; rounding differences possible
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Tenant base 7 Top-10 tenants (as of 30 June 2025) Sector distribution (as of 30 June 2025) Tenant Sector Rent1 EDEKA Group Food retail 14.0% Kaufland Group Food retail 7.5% REWE Group Food retail / DIY 7.0% OBI DIY 6.8% Globus Food retail / DIY 4.4% Agency of unemployment Authorities 3.9% Barmer Finance / Insurance 2.7% Netcologne IT / Communication 2.5% ALDI Food retail 2.0% City of Mainz Authorities 1.9% Total 52.7% Sector Rent1 Food DIY IT / Communication Finance / Insurance Authorities Textiles Education Medical / Pharma Others (<3.0%) Retail Office 34.5% 11.6% 7.1% 10.8% 6.9% 4.3% 3.5% 4.1% 17.2% Smaller changes in the pro rate rental income within our Top 10 tenant list – mainly related to index-based rent adjustments as well as property disposals Food retail still accounts for more than one third of total annualized rents 1 % of annualized rents
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Lease expiry schedule (as of 30 June 2025; in % of annual rents) Weighted average lease expiry (as of 30 June 2025) Letting result H1 2025 Leasing situation Letting result with a total volume of approx. 12,400 m² primarilyrelated to (re-)letting of office spaces Well balanced lease profile with remaining 0.9% of total rents expiring in 2025 27% 5% 6% 73% 95% 94% New lettings Contract extensions Total Retail Office 563 m² 11,836 m² 12,399m² 8 Retail Office Total 6.9 years 4.1 years 5.7 years 0.5% 1.9% 4.0% 4.7% 6.0% 8.6% 4.4% 2.8% 23.3% 0.4% 7.7% 8.1% 5.5% 7.8% 4.9% 3.2% 1.3% 4.7% 0,0% 5,0% 10,0% 15,0% 20,0% 25,0% 30,0% 2025 2026 2027 2028 2029 2030 2031 2032 2033 and laterRetail Office
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Financial situation Expiration of financial liabilities (as of 31 December 2021) Expiration of financial liabilities (as of 30 June 2025) 55.0% REIT equity ratio 44.3% LTV €632.9m Financial liabilities 1.9% Ø Cost of debt 3.1 years Ø Maturity of debt 5.3x EBITDA/Interest coverage 10.0x Net debt/EBITDA1 1 Net financial debt (average last five quarters) in relation to EBITDA adjusted by result from sales (last twelve months) 2.7% 12.6% 16,5% 14.0% 16.0% 12.1% 13.2% 9.7% 3.3% 0,0% 2,0% 4,0% 6,0% 8,0% 10,0% 12,0% 14,0% 16,0% 18,0% Q3 2025 Q4 2025 2026 2027 2028 2029 2030 2031 2032 Short-term bank loan maturities Medium/long-term bank loan maturities 2025 Weighted average interest rate 1.3% 1.4% 2.5% 1.9% 1.8% 2.2%1.6%1.6% 2.8% 9
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Outlook (previously €87.5m – €89.0m) Rental income €89.5m – €90.5m FFO €44.0m – €46.0m Full-year guidance update 2025 Main influencing factors ▪ Recent property disposals ▪ Timing and volume of potential property acquisitions ▪ Expectedincrease in expenses for maintenance, as well as personnel and administration costsin a range between 10% and 20% in 2025 ▪ Higher other operating expenses (including one-off cost effects for implementation of regulatory and strategic projects) 10
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Contact Niclas Karoff CEO/CFO E-Mail: n.karoff@hamborner.de Sarah Verheyen COO/CIO E-Mail: s.verheyen@hamborner.de Christoph Heitmann Head of Investor Relations, Financing & Corporate Communications E-Mail: c.heitmann@hamborner.de Datei:LinkedIn logo initials.png 11 HAMBORNER REIT AG www.hamborner.de info@ir.hamborner.de +49 (0)203/54405-32
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