Slides
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Office property ‚EUREF-Campus‘ Berlin Conference Call Q3 2025 6 November 2025
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Key figures Q3 2025 Key Figures Q3 2025 Q3 2024 Change From the income statement Income from rents and leases €67.9m €69.8m -2.8% Operating result €16.4m €21.3m -22.8% Period result €9.2m €11.6m -20.5% Key earnings figures Funds from Operations (FFO) €36.7m €41.8m -12.2% Funds from Operations (FFO) per share €0.45 €0.51 -12.2% Key Figures 30 September 2025 31 December 2024 Change Key financial figures REIT Equity Ratio 55.8% 55.2% +0.6%-pts Loan to Value (LTV) 43.3% 43.7% -0.4%-pts EPRA Net Asset Value (NAV) per share €9.65 €9.79 -1.4% EPRA Net Tangible Assets (NTA) per share €9.65 €9.79 -1.4% Operational key figures EPRA vacancy rate 3.4% 2.8% +0.6%-pts WALT 5.5 years 5.8 years -0.3 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 September 2024 Annualized rents 30 September 2025 -0.8% -3.5% Indexation +€2.1m +2.3% 1 Point-in-time calculation (30 September 2025 vs. 30 September 2024); acquisitions and disposals excluded; rounding differences possible Asset class Total portfolio Investment approach Retail Office Split Core Manage-to-Core Total rents -0.3%-pts +3.9%-pts +1.5%-pts +2.3%-pts -10.6%-pts Indexation effects +0.9%-pts +4.3%-pts +2.4%-pts +2.4%-pts +1.4%-pts Follow-up Leases / Step rents -0.7%-pts -0.9%-pts -0.8%-pts -0.7%-pts -0.8%-pts Vacancy changes -0.6%-pts +0.5%-pts -0.1%-pts +0.6%-pts -11.1%-pts
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Funds from Operations (FFO) in k€ 9M 2025 9M 2024 Change Income from rents and leases 67,878 69,835 -2.8% Income from passed on costs 7,973 9,630 -17.2% Operating expenses -14,436 -15,356 -6.0% Maintenance expenses -6,207 -5,683 +9.2% Net rental income 55,208 58,426 -5.5% Administrative expenses -1,550 -1,437 +7.9% Personnel expenses -5,950 -4,992 +19.2% Other operating income 743 994 -25.3% Other operating expenses -2,386 -1,750 +36.3% Interest expenses -9,972 -10,588 -5.8% Interest income 581 1,140 -49.0% FFO 36,674 41,793 -12.2% Capex -665 -2,271 -70.7% AFFO 36,009 39,522 -8.9% FFO per share in € 0.45 0.51 -12.2% AFFO per share in € 0.44 0.49 -8.9% Comments 1 2 ▪ Decline mainly due to recent asset disposals ▪ Decrease particularly in connection with restructuring of external facility management ▪ Decrease mainly results from property disposals ▪ Expenses relate to several major maintenance projects, ongoing minor maintenance work and various smaller planned measures Increase primarily due to higher license fees for software in connection with implementation of the digitalization strategy Increase mainly due to personell changes Income affected by a derecognition 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 income mainly results from lower interest rates for overnight cash deposits 1 2 4 5 7 6 4 3 5 8 4 7 8 9 9 3 6 10 10
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Portfolio key metrics as of 30 September 2025 5 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 379,097 m² 62.8% 224,198 m² 37.2% 603,295 m² 554.906 m² 92.0% 48,390 m² 8.0% Annualized rent €49.6m 56.0% €39.0m 44.0% €88.6m €83.7m 94.5% €4.9m 5.5% Annualized rental yield 6.2% 6.5% 6.3% 6.3% 6.1% EPRA vacancy rate 1.2% 6.0% 3.4% 1.9% 23.5% WALT 6.7 years 4.0 years 5.5 years 5.7 years 2.4 years Like-for-like development 30 September 2025 to 30 September 20242 Rents -0.3%-pts +3.9%-pts +1.5%-pts +2.3%-pts -10.6%-pts EPRA vacancy rate +0.7%-pts +0.6%-pts +0.7%-pts +0.2%-pts +8.7%-pts WALT -0.7 years -0.5 years -0.6 years -0.7 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 September 2025 vs. 30 September 2024); acquisitions and disposals excluded; rounding differences possible
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Tenant base 6 Top-10 tenants (as of 30 September 2025) Sector distribution (as of 30 September 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 2.8% Netcologne IT / Communication 2.5% ALDI Food retail 2.0% City of Mainz Authorities 1.9% Total 52.8% Sector Rent1 Food DIY IT / Communication Finance / Insurance Authorities Textiles Education Medical / Pharma Others (<3.0%) Retail Office 34.5% 11.3% 7.4% 10.9% 7.0% 4.4% 3.5% 4.0% 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 September 2025; in % of annual rents) Weighted average lease expiry (as of 30 September 2025) Letting result 9M 2025 Leasing situation Letting result with a total volume of approx. 25,000 m² primarilyrelated to contract extensions in the office portfolio Well balanced lease profile with remaining 0.7% of total rents expiring in 2025 6% 6% 6% 94% 94% 94% New lettings Contract extensions Total Retail Office 2,326 m² 22,852 m² 25,179 m² 7 Retail Office Total 6.7 years 4.0 years 5.5 years 0.5% 1.9% 3.9% 4.7% 5.9% 8.6% 4.4% 2.9% 23.0% 0.2% 7.0% 7.9% 5.7% 8.4% 5.0% 3.4% 1.5% 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 30 September 2025) 55.8% REIT equity ratio 43.3% LTV €629.8m Financial liabilities 2.0% Ø Cost of debt 3.0 years Ø Maturity of debt 5.1x EBITDA/Interest coverage 10.2x Net debt/EBITDA1 1 Net financial debt (average last five quarters) in relation to EBITDA adjusted by result from sales (last twelve months) 12.6% 16.3% 13.9% 15.9% 12.1% 13.2% 9.7% 6.3% 0,0% 2,0% 4,0% 6,0% 8,0% 10,0% 12,0% 14,0% 16,0% 18,0% 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% 3.0%1.6%2.6% 8
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ESG Key Figures | Development of portfolio-wide emissions1 ▪ Over the past three years since development of the HAMBORNER decarbonization strategy the total energy-related emissions have been substantially reduced and remain below yearly reduction pathway ▪ Our decarbonization strategy focuses on reducing energy consumption through property-specific efficiency measures, increasing the use of renewable energy sources, and improving data quality to enable effective implementation of strategy ▪ In future, staying within the target range will depend even more on positive developments in external factors, such as tenant behavior and emission factors ▪ Close cooperation with tenants and further stakeholders remains essential for continued implementation and long-term success Basis 56,4 𝑘𝑔𝐶𝑂2𝑒𝑞/𝑚2 Fortschritt auf 41,5 𝑘𝑔𝐶𝑂2𝑒𝑞/𝑚2 Ziel 28,2 𝑘𝑔𝐶𝑂2𝑒𝑞/𝑚2 1Energy consumption and resulting emissions of all properties that were part of HAMBORNER's portfolio throughout the respective year (data as at July 2025) Comments 9 0 30 60 2021 2024 2027 2030 Emission intensity (kgCO₂e / m²) Scope 1, 2 & 3 energiebedingt (Planwerte) Scope 1,2,3 energiebedingt (Ist-Werte) Zusätzliche Reduktion ggü. PlanwertenScope 1, 2 & 3 energy-related (planned values) Additional reduction compared to planned valuesScope 1, 2 & 3 energy-related (actual values) 2030 Target 28.2 2024 45.1 Base year 56.4 HAMBORNER remains well on track to achieve its 2030 emissions target, which aims a 50% reduction in energy-related emissions within its real estate portfolio Future compliance with target remains highly ambitious
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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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This presentation has been prepared and/or issued by HAMBORNER REIT AG (hereinafter "HAMBORNER") solely for information purpo ses. This presentation may contain statements, assumptions, opinions and predictions about the anticipated future development of HAMBORNER ("forward -looking statements") that reproduce various assumptions regarding, e.g., results derived from HAMBORNER's current business or from publicly availa ble sources that have not been subject to an independent audit or in-depth evaluation by HAMBORNER and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come w ith risks and uncertainties that are not insignificant. All forward-looking statements should therefore not be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this presentation was issued to its recipients. It is the responsibility of the recipients of this presentation to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. HAMBORNER accepts no responsibility for any direct or ind irect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the presentation, its contents and, in particular, all forward- looking statements or in any other way, as far as this is legally permissible. HAMBORNER does not provide any guarantees or a ssurances (either explicitly or implicitly) in respect of the information contained in this presentation. HAMBORNER is not obliged to update or correct the i nformation, forward-looking statements or conclusions drawn in this presentation or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this presentation.