Slides
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CONFERENCE CALL PRESENTATION quốc . H1 2026 GROWING CASHFLOWS TAG Immobilien AG TAG Immobilien AG
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Conference Call Presentation H1 2026 | August 2026 | 2 Highlights H1 2026 Highlights 01 Financials German business 03 Polish rental business 04 Guidance 06 01 02 Appendix 07 Polish sales business 05
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Conference Call Presentation H1 2026 | August 2026 | 3 R4R portfolio acquisition closed in May-2026 Successful ROBYG IPO in June/July 2026 ▪ Placement of ROBYG shares by TAG and cash capital increases on ROBYG level led to total gross proceeds of c. EUR 282m for the Group (c. EUR 188m for TAG and c. EUR 94m for ROBYG); TAG retaining 67% stake in ROBYG ▪ NTA uplift of c. EUR 55m (c. EUR 0.30/s) and LTV reduction by c. 320 bps to c. 42.2% on a pro forma basis (IPO transactions to the largest part effective after 30 June 2026) TAG’s remaining stake in ROBYG valued at c. EUR 580m at the IPO Operations well on track and increasing portfolio values ▪ L-f-l rental growth in June 2026 of 3.0% in Germany and 2.4% in Poland (w/o newly acquired R4R portfolio) ▪ Value increase in H1 2026 in the German portfolio of +1.5% after +1.4% and +1.7% in the two previous semi-annual portfolio valuations; positive valuation results also in the Polish portfolio Strong earnings growth in H1 2026 ▪ FFO I in H1 2026 at EUR 100.2m after EUR 91.6m in H1 2025 (+9% ) ▪ Net income from sales Poland of EUR 18.6m in H1 2026 (EUR 16.6m in H1 2025; +12% Y-o-Y) ▪ FFO II in H1 2026 at EUR 118.6m after EUR 107.3m in H1 2025 (+11% Y-o-Y) FFO I 2026 now expected to come out at the upper end of the Guidance range 1,350 units sold in Poland in H1 2026 (1,158 units in H1 2025) ▪ Acquisition closed on 27 May-2026 after antitrust approval without any conditions; integration of the portfolio into the Vantage platform is proceeding smoothly and will be completed shortly ▪ Final purchase price of c. EUR 575m (c. 7.5% implied gross yield based on expected net actual rent in 2026); portfolio valuation at 30 Jun-2026 led to 7% value uplift (new book value of c. EUR 611m) Polish rental portfolio now at a material size (c. 9,100 units) Clear capital allocation strategy ▪ Further growth in the rental business unchanged as the preferred capital allocation: ▪ “Natural growth” via construction of rental apartments in Poland via the own platform on the own land bank ▪ Acquisitions of rental portfolios in Germany or Poland as a further growth opportunity ▪ New growth opportunities for the Polish sales business (ROBYG) through the IPO proceeds ROBYG IPO led to “Win-Win outcome” for all segments TAG highlights H1 2026: overview
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Conference Call Presentation H1 2026 | August 2026 | 4 Q2 / 30 Jun-2026 Q1 / 31 Mar-2026 H1 / 30 Jun-2026 H1 / 30 Jun-2025 FY / 31 Dec-2025 ▪ FFO I (EURm) 50.9 49.3 100.2 91.6 181.0 ▪ FFO II (EURm) 56.8 61.8 118.6 107.3 248.2 ▪ EBITDA adjusted rental (EURm) 67.9 64.3 132.2 126.4 247.6 ▪ EBITDA adjusted sales (EURm) 7.9 16.0 23.9 19.8 85.5 ▪ EBITDA adjusted total (EURm) 75.8 80.3 156.1 146.2 333.1 ▪ EPRA NTA (EUR/share) 21.38 21.08 21.38 20.18 20.98 ▪ LTV 45.4% 41.0% 45.4% 45.3% 41.0% TAG highlights H1 2026: financial performance and German portfolio Operational performance German portfolio ▪ Units Germany 84,073 84,094 84,073 82,957 83,504 ▪ EBITDA rental adjusted (EURm) 61.2 59.5 120.8 118.3 230.1 ▪ Annualised net actual rent EURm p.a. (total portfolio) 357.4 356.1 357.4 343.1 351.2 ▪ Net actual rent EUR/sqm/month (residential units) 6.07 6.03 6.07 5.89 5.98 ▪ Net actual rent EUR/sqm/month (total portfolio) 6.17 6.13 6.17 6.01 6.07 ▪ L-f-l rental growth Y-o-Y 2.9% 3.0% 2.9% 2.4% 2.6% ▪ L-f-l rental growth Y-o-Y (incl. vacancy reduction) 3.0% 3.3% 3.0% 2.9% 3.0% ▪ Vacancy (residential units) 3.8% 3.6% 3.8% 3.9% 3.2% Financial performance ▪ 894 units acquired since Q1 2026 (257 units in Q2 2026 and 637 units after the balance sheet date): Total purchase price of EUR 51.6m. Average acquisition multiple of 14.1x or gross yield of 7.1%. Average vacancy rate of c. 4.3%. Portfolios located in Eastern Germany. Closing expected in the course of H2 2026/at YE 2026. Acquisitions Germany
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Conference Call Presentation H1 2026 | August 2026 | 5 TAG highlights H1 2026: Polish portfolio Sales business performance (BTS) Rental business performance (BTH) Q2 / 30 Jun-20261) Q1 / 31 Mar-20262) H1 / 30 Jun-20261) H1 / 30 Jun-20253) FY / 31 Dec-20254) ▪ Net actual rent (EURm) 11.1 7.0 18.0 12.3 25.6 ▪ EBITDA rental adjusted (EURm) 6.7 4.7 11.4 8.1 17.5 ▪ GAV (EURm) incl. landbank 1,466 818 1,466 718 770 ▪ Units (completed rental apartments) 9,119 3,707 9,119 3,349 3,526 ▪ L-f-l rental growth Y-o-Y 2.4% 3.2% 2.4% 3.3% 3.4% ▪ Vacancy (total rental portfolio) 5.4% 7.5% 5.4% 3.8% 4.8% 1) PLN/EUR average exchange rate of 0.2357 and period-end exchange rate of 0.2328 2) PLN/EUR average exchange rate of 0.2361 and period-end exchange rate of 0.2332 3) PLN/EUR average exchange rate of 0.2363 and period-end exchange rate of 0.2357 4) PLN/EUR average exchange rate of 0.2359 and period-end exchange rate of 0.2369 Q2 / 30 Jun-20261) Q1 / 31 Mar-20262) H1 / 30 Jun-20261) H1 / 30 Jun-20253) FY / 31 Dec-20254) ▪ Sales revenues (EURm) 41.7 62.6 104.4 83.9 299.1 ▪ EBITDA sales adjusted (EURm) 7.9 16.0 23.9 19.8 85.5 ▪ Adjusted net income from sales (EURm) 5.9 12.7 18.6 16.6 68.0 ▪ GAV (EURm) incl. landbank 805 770 805 747 777 ▪ Handovers 341 311 652 516 2,077 ▪ Sold units 692 658 1,350 1,158 2,823 ▪ Sales volume (EURm) 116 107 224 197 467 30 Jun-20261) 31 Mar-20262) 30 Jun-20261) H1 / 30 Jun-20253) 31 Dec-20254) ▪ NTA (EUR/share) 3.31 3.15 3.31 3.06 3.20 ▪ Net debt (EURm) 146.6 156.1 146.6 146.0 146.5
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Conference Call Presentation H1 2026 | August 2026 | 6 Financials 02 Highlights Financials German business 03 Polish rental business 04 Guidance 06 01 02 Appendix 07 Polish sales business 05
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Conference Call Presentation H1 2026 | August 2026 | 7 TAG from net actual rent to FFO I (rental business) (EURm) Q2 2026 Q1 2026 H1 2026 H1 2025 FY 2025 Net actual rent1) 100.7 95.9 196.6 184.2 371.1 Expenses from property management -19.5 -18.8 -38.3 -32.6 -68.1 Other operating income, sales and services income 13.6 12.8 26.4 21.0 46.3 Valuation result and depreciation 38.3 -2.7 35.6 107.6 141.4 Personnel & other operating expenses -27.0 -25.7 -52.7 -47.1 -99.8 Total EBIT Germany and Poland rental1) 106.2 61.4 167.6 233.2 390.9 thereof EBIT Germany 85.1 56.6 141.7 140.7 277.7 thereof EBIT Poland rental 21.1 4.8 25.9 92.5 113.2 Valuation result -41.4 -0.4 -41.9 -113.6 -153.7 Depreciation -3.2 3.1 6.3 6.0 12.2 One-offs 0.0 0.0 0.0 0.0 -2.6 Sales result 0.0 0.1 0.2 0.9 0.7 EBITDA (adjusted) rental business 67.9 64.3 132.2 126.4 247.6 thereof German business 61.2 59.5 120.8 118.3 230.1 thereof Polish business 6.7 4.7 11.4 8.1 17.5 EBITDA (adjusted) margin 67.4% 67.0% 67.2% 68.6% 66.7% Net financial result (cash, after one-offs) -14.7 -12.9 -27.6 -29.0 -54.5 Cash taxes -2.2 -2.0 -4.2 -5.5 -11.5 Cash dividend payments to minorities -0.1 -0.1 -0.2 -0.3 -0.6 FFO I 50.9 49.3 100.2 91.6 181.0 Weighted average number of shares outstanding (in ‘000) 189,062 188,976 189,019 175,482 180,509 FFO I per share (EUR) 0.27 0.26 0.53 0.52 1.00 1. EBITDA adjusted increases Q-o-Q by EUR 3.6m mainly due to higher net actual rent (EUR 4.8m; organic rental growth and R4R acquisition in May-2026), whereas the R4R acquisition also leads to a corresponding cost increase that partly compensates the total result increase. 2. FFO I increased by EUR 1.6m Q-o-Q following the higher EBITDA (EUR 3.6m), partially offset by higher financing costs of EUR 1.8m (mostly due to use of the financing for the R4R acquisition). FFO I in H1 2026 at EUR 100.2m compared to EUR 91.6m in H1 2025 (+9%) AFFO decreased Q-o-Q by EUR 4.4m based on higher capitalised maintenance in Q2 2026 of EUR 1.7m and higher modernisation capex (EUR 4.3m) that outweigh the FFO I increase of EUR 1.6m. AFFO Q2 2026 Q1 2026 H1 2026 H1 2025 FY 2025 FFO I 50.9 49.3 100.2 91.6 181.0 Capitalised maintenance -3.3 -1.6 -4.9 -5.3 -20.2 AFFO before modernisation capex 47.6 47.7 95.3 86.3 160.8 Modernisation capex -27.1 -22.8 -49.9 -39.0 -86.1 Modernisation subsidies 0.0 0.0 0.0 0.0 3.3 AFFO 20.5 24.9 45.4 47.3 78.0 1 2 1 2 One-offs Q2 2026 Q1 2026 H1 2026 H1 2025 FY 2025 Subsidies recognised in income for modernisation measures in Germany 0.0 0.0 0.0 0.0 -3.3 Financing fees portfolio acquisition in Poland 0.0 0.0 0.0 0.0 0.6 One-offs total 0.0 0.0 0.0 0.0 -2.6 3 3 1) For further income statement details see appendix page 26
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Conference Call Presentation H1 2026 | August 2026 | 8 TAG from FFO I to FFO II (sales business) Q2 2026 Q1 2026 H1 2026 H1 2025 FY 2025 EBIT sales Poland1) 14.4 13.7 28.1 19.1 85.6 Effects from purchase price allocation 0.9 1.5 2.4 3.0 7.7 Effects elimination of valuation results from previous years 0.7 0.7 1.4 2.4 4.6 Valuation result -10.8 -1.6 -12.4 -6.7 -29.6 Depreciation 0.4 0.5 0.9 0.8 1.8 Results from joint ventures 2.1 1.3 3.4 1.3 15.5 EBITDA (adjusted) sales Poland 7.9 16.0 23.9 19.8 85.5 Net financial result (cash, after one-offs) -0.4 -0.2 -0.6 0.7 0.3 Cash taxes -1.2 -3.0 -4.2 -4.0 -14.7 Minority interests on project level -0.2 -0.2 -0.4 0.1 -3.2 Adjusted net income sales Poland 5.9 12.7 18.6 16.6 68.0 1) For further income statement details see appendix page 26 (EURm) Q2 2026 Q1 2026 H1 2026 H1 2025 FY 2025 FFO I 50.9 49.3 100.2 91.6 181.0 Net income from sales Germany 0.0 -0.1 -0.2 -0.9 -0.7 Adjusted net income from sales Poland 5.9 12.7 18.6 16.6 68.0 FFO II 56.8 61.8 118.6 107.3 248.2 Weighted average number of shares outstanding (in ‘000) 189,062 188,976 189.019 175,482 180,509 FFO I per share (EUR) 0.27 0.26 0.53 0.52 1.00 FFO II per share (EUR) 0.30 0.33 0.63 0.61 1.38 Poland BTS generates EUR 18.6m in H1 2026, driving FFO II to EUR 118.6m (+11%) FFO I to FFO II H1 2026 (EURm) 1 1
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Conference Call Presentation H1 2026 | August 2026 | 9 TAG EPRA NTA (in EURm) EPRA NTA EPRA NTA Net tangible assets Net tangible assets 30 Jun-2026 31 Dec-2025 Equity (before minorities) 3,288.6 3,262.2 Difference between fair value and book value for properties valued at cost 68.5 62.8 Deferred taxes on investment properties and derivative financial instruments 929.8 866.1 Fair value of derivative financial instruments 69.7 67.3 Goodwill -284.8 -289.8 Intangible assets (book value) -3.5 -3.6 EPRA NAV metrics, fully diluted 4,068.3 3,965.1 Number of shares, fully diluted (in ‘000) 190,270 188,976 EPRA NTA per share (EUR), fully diluted 21.38 20.98 EPRA NTA/s continued to show growth reaching EUR 21.38 in H1 2026 (+6% Y-o-Y before positive impact from ROBYG IPO of c. EUR 0.30 p/s) 20.98 21.38 -0.40 +0.47 +0.33 EPRA NTA 31 Dec-2025 Dividend payout Portfolio valuation Net profit and other effects EPRA NTA 30 Jun-2026 EPRA NTA bridge in EUR/share
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Conference Call Presentation H1 2026 | August 2026 | 10 Financing structure Financing mix1) Financial KPIs as of 30 Jun-2026 TAG’s Investment Grade Ratings ▪ Long-Term Rating: Baa2 (stable outlook) ▪ Short-Term Rating: P-2 ▪ As of May 2026 ▪ Long-Term Rating: BBB (stable outlook) ▪ Short-Term Rating: A-2 ▪ As of July 2026 LTV 45.4% (pro forma ROBYG IPO c. 42.2%) LTV target c. 45.0% Net financial debt / EBITDA adjusted 10.6x ICR 6.3x EUR 2,216m EUR 900m 2.8% 0.6% 96% 100% Debt volume % Fixed ratesØ Interest rate EUR 900m 4.0% 100% 3.3% 66%EUR 103m 6.5% 0%EUR 111m Bank loans Corporate bonds Promissory notes Convertibles Corporate bonds PLN 52% 21% 2% 21% 3% Σ EUR 4,229m Ø 2.7% 95% 5% Fixed rates Variable rates Fixed vs. variable split LTV currently at 45.4%; pro forma LTV after ROBYG IPO at c. 42.2% and therefore well below LTV target of c. 45% 1) Nominal amounts
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Conference Call Presentation H1 2026 | August 2026 | 11 Current cash position on a pro forma basis as at 30 June 2026 at EUR 1,046m1) Maturity profile Maturity profile as of 30 Jun-2026 (in EURm)2); Ø Maturity total financial debt 4.3 yrs 108 533 85 583 238 207 463 500 400 63 10 30 470 430 111 2026 2027 2028 2029 2030 2031 >2031 637578 595 85 Bank loans Corporate bonds Promissory notesConvertibles Corporate bonds PLN Ø 1.04%Ø 0.90% Ø 2.80% Ø 3.61% 768 Ø 3.20% 863 Ø 3.31% 1) Comprised of current liquidity of EUR 556m, as well as net cash inflows of c. EUR 255m from the ROBYG IPO and c. EUR 235m from bank loan refinancings in Jul/Aug 2026 2) Nominal amounts 704 Ø 4.04%
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Conference Call Presentation H1 2026 | August 2026 | 12 German business 03 Highlights Financials German business 03 Polish rental business 04 Guidance 06 01 02 Appendix 07 Polish sales business 05
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Conference Call Presentation H1 2026 | August 2026 | 13 Ongoing good rental growth in H1 2026 observed; vacancy rate decreased Y-o-Y by 10 basis points, from 3.9% to 3.8% German portfolio vacancy reduction and l-f-l rental growth L-f-l rental growth excluding and including vacancy reduction Vacancy rate residential units 4.0% 3.6% 3.2% 3.6% 3.8% 2023 2024 2025 Q1 2026 H1 2026 1.8% 2.5% 2.6% 2.9% 2.3% 3.0% 3.0% 3.0% 2023 2024 2025 H1 2026 Basis l-f-l Incl. vacancy reduction Rent increase existing tenants: 1.6% Tenant turnover: 1.0% Modernisation surcharge: 0.3%
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Conference Call Presentation H1 2026 | August 2026 | 14 6.3% 6.6% 6.6% 6.6% 6.6% FY 2023 FY 2024 Jun 2025 Dec 2025 Jun 26 Development of gross yield and portfolio value (EUR/sqm) c. 1,040 c. 1,060c. 1,060 c. 1,070 Ein Bild, das draußen, Architektur, Gebäude, Himmel enthält. KI-generierte Inhalte können fehlerhaft sein. TAG German portfolio valuation development c. 1,080 Total value increase in H1 2026 at +1.5% within the German Portfolio after +1.4% in H1 2025 and +1.7% in H2 2025
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Conference Call Presentation H1 2026 | August 2026 | 15 Region Jun-2026 Fair value (IFRS) Jun-2026 Fair value (IFRS) Jun-2026 Gross yield Dec-2025 Fair value (IFRS) Dec-2025 Fair value (IFRS) Dec-2025 Gross yield As of H1 2026 EURm EUR/sqm % EURm EUR/sqm % Brandenburg 770.0 1,376.6 5.7 758.0 1,355 5.7 Chemnitz 370.2 763.7 7.9 364.3 757 7.9 Dresden 504.0 1,307.5 5.8 491.1 1,340 5.7 Erfurt 684.1 1,147.8 6.1 673.2 1,132 6.2 Gera 418.5 754.3 8.6 413.1 745 8.8 Hamburg 541.6 1,355.9 5.9 528.0 1,322 6.0 Leipzig 748.4 978.3 6.9 732.7 965 6.9 Rhine-Ruhr 312.1 1,298.9 5.8 308.5 1,284 5.8 Rostock 534.5 1,225.1 6.0 524.1 1,201 6.0 Salzgitter 519.8 920.7 7.4 511.3 906 7.5 Total residential portfolio1) 5,403.1 1,083.7 6.5 5,304.4 1,070 6.5 Acquisitions 15.0 467.4 11.8 21.4 719 8.7 Other 88.7 1,906.4 10.8 99.42) 1,8853) 10.53) Grand total 5,506.9 1,081.3 6.6 5,425.2 1,070 6.6 TAG German portfolio valuation details 1) Regions include commercial units 2) Incl. EUR 70.6m book value for an office building; real estate inventory and properties within PPE valued at cost; incl. advance payments made for purchases 3) Excl. Office building Valuation unchanged at 6.6% gross yield, slight increase in value per sqm to c. EUR 1,080 in Jun-2026 from EUR 1,070 in Dec-2025
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Conference Call Presentation H1 2026 | August 2026 | 16 Polish rental business 04 Highlights Financials German business 03 Polish rental business 04 Guidance 06 01 02 Appendix 07 Polish sales business 05
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Conference Call Presentation H1 2026 | August 2026 | 17 2.2% 1.5% 1.3% 2.1% 2023 2024 2025 H1 2026 Vacancy remains at low levels, rents continue to grow Polish portfolio rental growth and vacancy development L-f-l rental growth (in units that have been on the market for more than one year)1) Vacancy (in units that have been on the market for more than one year)1) 10.8% 3.2% 3.4% 2.4% 2023 2024 2025 H1 2026 1) Excl. R4R portfolio acquired on 27 May-2026
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Conference Call Presentation H1 2026 | August 2026 | 18 TAG further expands its rental portfolio across Poland’s largest cities through the acquisition of c. 5,300 new-build apartments Portfolio impressions Portfolio in detail and summary ▪ Closing of the transaction on 27 May-2026 after unconditional merger clearance; signing of the transaction was on 16 Aug-2025 ▪ Acquisition of 5,344 new-build rental units for a final purchase price of PLN 2,437m (c. EUR 575m1)); purchase price corresponds to an implied gross yield expected by TAG of c. 7.5% in 2026 ▪ Valuation uplift of +7% at 30 Jun-2026 to a new portfolio value of PLN 2,596m (c. EUR 611m) 1) Based on PLN/EUR at closing date rate of 0.2360 per 27 May-2026 Acquisition from R4R to accelerate Poland rental portfolio growth Region TAG before Acquisition R4R Portfolio TAG after Acquisition TAG units under construction TAG total combined As of H1 2026 Warsaw - 1,763 1,763 - 1,763 Wrocław 1,849 1,657 3,506 517 4,023 Poznań 1,205 571 1,776 82 1,858 Łódź 534 513 1,047 - 1,047 Kraków - 535 535 251 786 Gdańsk 187 305 492 230 722 Grand total 3,775 5,344 9,119 1,080 10,199 Wrocław Łódź Poznań Gdańsk Warsaw Kraków
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Conference Call Presentation H1 2026 | August 2026 | 19 Polish sales business 05 Highlights Financials German business 03 Polish rental business 04 Guidance 06 01 02 Appendix 07 Polish sales business 05
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Conference Call Presentation H1 2026 | August 2026 | 20 1,350 units sold in H1 2026 after 1,158 units in H1 2025; sales prices remain on high level 110 112 148 110 118 79 64 97 103 94 130 140 107 116 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 TAG Polish sales business: sales results Units sold per quarter (#) Sold units and sales volume per quarter1) Sales volume per quarter (EURm) 973 844 1,060 709 636 420 379 501 592 566 815 1) Incl. landbank sales and joint ventures 850 658 692
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Conference Call Presentation H1 2026 | August 2026 | 21 58 32 99 296 115 78 99 95 33 51 58 157 63 42 11 7 38 33 8 17 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 TAG Poland sales business: revenue recognition 652 units handed over in H1 2026 after 516 units in H1 2025 Units handed over and revenue per quarter1) 583 280 638 2,311 821 509 1) Incl. landbank sales/ units handed over incl. joint ventures 251 1,085 224 292 Units handed over per quarter (#) Revenue per quarter (EURm) 547 Revenue per quarter from JVs in EURm (JV result shown in net financial result) 1,014 311 341
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Conference Call Presentation H1 2026 | August 2026 | 22 ROBYG IPO – Accelerating growth across all TAG segments ▪ IPO of ROBYG completed in June and July 2026; shares listed on the Warsaw Stock Exchange since 2 Jul-2026 ▪ Post-IPO market capitalisation of ROBYG of c. PLN 3.7bn / c. EUR 860m (share price at IPO time of PLN 34.00 and 108,525,449 shares outstanding) ▪ TAG remains majority shareholder with a 67.1% stake post stabilization highlighting its long-term commitment to the Polish residential market ▪ Placement of 23.7m existing shares and issuance of 12.0m new shares (incl. 2.4m management shares) generate total gross proceeds of c. EUR 282m (primary gross proceeds of c. EUR 94m for ROBYG and secondary gross proceeds of c. EUR 188m for TAG) ▪ ROBYG (BTS): ▪ IPO on the Warsaw Stock Exchange provides independent valuation, higher visibility and access to the equity market in Poland ▪ Primary proceeds (c. EUR 94m gross) strengthen ROBYG’s equity base, enabling land bank expansion and growth of its highly cash-generative BTS ▪ ROBYG continues to be one of the largest residential developers in Poland, with >30% gross margin and >20% EBITDA margins ▪ German business and Vantage (BTH): ▪ Secondary proceeds (c. EUR 188m gross) provide substantial equity to support further growth of the Polish build-to-hold portfolio (Vantage) with high estimated EBITDA margins and average gross rental yield on cost as well as high-yielding German rental acquisitions ▪ IPO proceeds benefit the balance sheet (lower LTV,higher EPRA NTA) ▪ ROBYG IPO crystallises the strong capital market sentiment of the listed Polish developer sector and creates a stand-alone listed vehicle ▪ Capital recycled from the Polish BTS platform can be invested into German and Polish rental assets, strengthening TAG’s recurring rental income (FFO I) ▪ The IPO enhances TAG’s portfolio mix by giving the possibility to increase stable rental exposure while keeping its Polish development business as a high-growth engine with large recurring cash flows within the Group Creating a listed Polish residential developer with additional equity while funding TAG’s next stage of growth in the rental segments in Germany and Poland Summary and transaction overview Strategic rationale Win-Win outcome: growth in all business segments
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Conference Call Presentation H1 2026 | August 2026 | 23 ROBYG IPO – (Pro forma) impact on TAG LTV reduction to c. 42.2% Credit rating upgrade ▪ S&P Global upgraded TAG to “BBB” in July 2026 after the IPO, following Moody’s upgrade to “Baa2” in May 2026 ▪ These two upgrades reflect TAG’s strong financial profile with low sector-relative leverage and solid liquidity ▪ S&P in particular highlights the strengthened capital structure after the ROBYG IPO, supporting future growth across TAG’s business segments NTA uplift and strong value appreciation since acquisition ▪ IPO increases TAG’s EPRA NTA by c. EUR 0.30/s from 21.38 p/s at 30 Jun-2026. Disposal of ROBYG-shares generates EPRA NTA accretion of c. EUR 55m on the sold stake and c. EUR 50m profit after transaction costs on sold stake compared to the proportional acquisition costs of ROBYG in 2022 ▪ TAG’s remaining stake of 67.1% in ROBYG is valued (at the IPO price) at c. EUR 580m (total value of ROBYG at c. EUR 860m). Compared to TAG’s historical acquisition costs for ROBYG in 2022 (c. PLN 2.450m/c. EUR 540m for a 100% stake) this translates into a strong value appreciation for the total investment of c. +40% FFO II short-term impact ▪ TAG’s FFO II guidance 2026e remains unchanged; adjusted net income from sales Poland (and thus FFO II) will be reported in 2026 without the newly created minority interests from the IPO; as before, only project-level partner stakes are deducted as minorities ▪ ROBYG minorities will start to reduce the Polish adjusted net income from sales from 2027 onwards and are first reflected in FY 2027; expected future growth in earnings at ROBYG on the back of stronger growth after the IPO proceeds should compensate newly created minority interest from c. FY 2028 onwards ▪ TAG expects a LTV reduction of c. 320bps to c. 42.2% on a pro forma basis (reported LTV as of 30 Jun 2026: 45.4%) from IPO proceeds, clearly below the company’s c. 45% target ▪ This deleveraging strengthens TAG’s funding capacity and financial flexibility ROBYG IPO benefits TAG’s balance sheet pro forma by increasing EPRA NTA by c. EUR 55m and reducing LTV to c. 42.2%
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Conference Call Presentation H1 2026 | August 2026 | 24 Attractive capital market valuation of TAG Implied FFO I yield (at upper end of FY 2026 guidance) at c. 10% based on current capital market valuation of TAG and ROBYG TAG market capitalisation (as of 31 Jul 2026) ROBYG market capitalisation (as of 31 Jul 2026) Implied market valuation for TAG rental business FFO I Guidance 2026 c. EUR 2.625m c. EUR 2.075m c. EUR 550m EUR 187-197m c. 10% FFO I yield TAG’s 67% share in ROBYG1) Implied valuation bridge 1) Based on ROBYG market capitalisation of c. EUR 810m at 31 Jul-2026)
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Conference Call Presentation H1 2026 | August 2026 | 25 Guidance 06 Highlights Financials German business 03 Polish rental business 04 Guidance 06 01 02 Appendix 07 Polish sales business 05
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Conference Call Presentation H1 2026 | August 2026 | 26 All Guidance for FY 2026 confirmed; after strong H1 2026 results FFO I 2026e now at upper end of the Guidance range expected FY 2026 guidance (unchanged) 50% of FFO I c. +6% c. +2% c. +16% c. +10% EUR 187-197m EUR 0.99-1.04/s FFO I EUR 279-295m EUR 1.48-1.56/s FFO II Dividend c. +40%EUR 92-98mAdjusted net income from sales Poland Y-o-Y change c. +28% Guidance 2026e EUR 248.2m EUR 1.38/s Results FY 2025 EUR 181.0m EUR 1.00/s EUR 68.0m EUR 0.40/s
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Conference Call Presentation H1 2026 | August 2026 | 27 Despite delayed closing of R4R portfolio acquisition (27 May-2026 vs. 31 Mar-2026 as basis for Guidance) results are very well on track Guidance FY 2026: key assumptions Rental business Germany and Poland FY 2025 FY 2026e Y-o-Y change ▪ EBITDA rental business adjusted (EURm) Germany 230.1 230 – 234 +1% ▪ EBITDA rental business adjusted (EURm) Poland 17.5 34 – 52 +146% ▪ EBITDA rental business total adjusted (EURm) 247.6 264 – 286 +11% ▪ Vacancy reduction Germany 0.4% 0.3 – 0.5% --- ▪ L-f-l rental growth Y-o-Y (incl. vacancy reduction) Germany 3.0% 2.7 – 3.1% --- ▪ L-f-l rental growth Y-o-Y Poland 3.4% 3.0 – 3.5% --- Sales business Poland FY 2025 FY 2026e Y-o-Y change ▪ EBITDA sales business adjusted (EURm) 85.5 120 – 130 +46% ▪ Handovers (including joint ventures) 2,077 c. 3,200 +54% ▪ Sold units (including joint ventures) 2,823 c. 2,900 +3% ▪ Sales volume (EURm, including joint ventures) 467 c. 480 – 500 +5%
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Conference Call Presentation H1 2026 | August 2026 | 28 Appendix 07 ▪ Financials ▪ German portfolio ▪ Polish portfolio ▪ Polish rental and sales market ▪ Share data and coverage ▪ ESG ratings Highlights Financials German business 03 Polish rental business 04 Guidance 06 01 02 Appendix 07 Polish sales business 05
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Conference Call Presentation H1 2026 | August 2026 | 29 APPENDIX TAG income statement (in EURm) Q2 2026 Q1 2026 H1 2026 H1 2025 FY 2025 Net actual rent1) 100.7 95.9 196.6 184.2 371.1 Expenses from property management1) -19.5 -18.8 -38.3 -32.6 -68.1 Net rental income 81.2 77.1 158.3 151.6 303.0 Net income from services 13.1 12.8 25.9 20.6 43.2 Net income from sales 8.8 17.2 26.0 20.4 73.5 Other operating income 7.5 4.5 12.0 10.9 25.2 Valuation result 52.3 2.1 54.3 120.4 183.3 Personnel expenses -29.3 -25.6 -54.9 -48.0 -101.5 Depreciation -3.6 -3.6 -7.2 -6.8 -14.0 Other operating expenses -9.4 -9.2 -18.6 -16.4 -36.1 EBIT 120.6 75.1 195.7 252.7 476.6 Net financial result -17.9 -31.0 -48.9 -71.1 -48.5 EBT 102.7 44.1 146.8 181.6 428.1 Income tax -23.1 -9.1 -32.2 -30.5 -337.8 Consolidated net income 79.5 35.0 114.5 151.1 90.3 1 2 3 5 7 6 4 1 Net rental income increased by EUR 4.1m Q-o-Q following the higher net actual rent (EUR 4.8m) partly offset by higher property management costs of EUR 0.7m.2 Total income tax in Q2 2026 roughly follows the EBT development. Cash-effective income taxes in Q1 2026 (relevant for FFO I and FFO II) were EUR -4.9m compared to EUR -3.4m in Q2 2026.7 Reduction of net income from sales Q-o-Q of EUR 8.4m mainly due to slightly lower average profit from sales in Poland and despite stable level of handovers (different regional mix).3 Figures reflect results of regular half year valuations following the positive trends on both residential markets.5 Q-o-Q net financial result increased by EUR 13.1m. Main reason is an almost balanced valuation result in Q2 2026 after a loss of EUR -11.3m in the previous quarter. Net financial result (cash, after one-offs) slightly reduced from EUR -13.1 m in Q1 2026 to EUR -15.1m in Q2 2026. 6 Q-o-Q increase of EUR 3.0m due to capitalisation of own work in Germany and Poland as well as several smaller effects.4 1) w/o IFRS 15 effects; for further details see annual report Net rental rent increased by EUR 4.8m Q-o-Q reflecting the ongoing stable l-f-l-development in Germany and Poland supported by the completion of the R4R acquisition on 27 May-2026.1
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Conference Call Presentation H1 2026 | August 2026 | 30 APPENDIX TAG income statement details Germany and Poland (in EURm) Germany Q2 2026 Poland – Rental Q2 2026 Total Rental Q2 2026 Poland – Sales Q2 2026 Total Q2 2026 Germany Q1 2026 Poland – Rental Q1 2026 Total Rental Q1 2026 Poland – Sales Q1 2026 Total Q1 2026 Germany H1 2026 Poland – Rental H1 2026 Total Rental H1 2026 Poland – Sales H1 2026 Total H1 2026 Net actual rent1) 89.7 11.1 100.7 0.0 100.7 88.9 7.0 95.9 0.0 95.9 178.6 18.0 196.6 0.0 196.6 Expenses from property management1) -17.8 -1.7 -19.5 0.0 -19.5 -18.5 -0.3 -18.8 0.0 -18.8 -36.3 -2.0 -38.3 0.0 -38.3 Net rental income 71.9 9.4 81.2 0.0 81.2 70.4 6.6 77.1 0.0 77.1 142.3 16.0 158.3 0.0 158.3 Net income from services 10.9 0.0 10.9 2.2 13.1 11.4 0.0 11.4 1.4 12.8 22.3 0.0 22.3 3.7 25.9 Net income from sales 0.0 0.0 0.0 8.8 8.8 -0.1 0.0 -0.1 17.3 17.2 -0.3 0.0 -0.3 26.2 26.0 Other operating income 1.2 1.6 2.8 4.7 7.5 0.6 0.9 1.5 2.9 4.5 1.9 2.5 4.4 7.6 12.0 Valuation result 26.9 14.5 41.5 10.8 52.3 0.2 0.2 0.4 1.6 2.1 27.2 14.7 41.9 12.4 54.3 Personnel expenses -17.6 -3.0 -20.6 -8.7 -29.3 -17.1 -2.2 -19.3 -6.3 -25.6 -34.7 -5.3 -40.0 -14.9 -54.9 Depreciation -3.1 -0.1 -3.2 -0.5 -3.6 -3.0 -0.1 -3.1 -0.5 -3.6 -6.1 -0.2 -6.3 -0.9 -7.2 Other operating expenses -5.2 -1.2 -6.4 -3.0 -9.4 -5.8 -0.6 -6.4 -2.9 -9.2 -11.0 -1.8 -12.8 -5.9 -18.6 EBIT 85.1 21.1 106.1 14.4 120.6 56.6 4.8 61.4 13.7 75.1 141.7 25.9 167.6 28.1 195.7 Net financial result -18.8 -2.7 -21.6 3.7 -17.9 -30.3 -3.6 -33.8 2.8 -31.0 -49.1 -6.3 -55.4 6.5 -48.9 EBT 66.2 18.3 84.5 18.1 102.7 26.4 1.3 27.6 16.5 44.1 92.6 19.6 112.2 34.6 146.8 Income tax -16.4 -0.7 -17.1 -6.0 -23.1 -5.7 -0.2 -5.9 -3.2 -9.1 -22.1 -0.9 -23.0 -9.2 -32.2 Consolidated net income 49.8 17.6 67.4 12.1 79.5 20.6 1.1 21.7 13.3 35.0 70.5 18.7 89.2 25.4 114.5 1) w/o IFRS 15 and IFRS 16 effects
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Conference Call Presentation H1 2026 | August 2026 | 31 APPENDIX TAG balance sheet (in EURm) 30 Jun-2026 31 Dec-2025 Non-current assets 7,498.9 6,701.3 Investment property 7,049.3 6,254.7 Deferred tax assets 29.2 28.4 Other non-current assets 420.3 418.2 Current assets 1,523.9 2,248.5 Real estate inventory 724.3 713.8 Cash and cash equivalents 555.6 1,197.91) Other current assets 243.9 336.8 Non-current assets held-for-sale 2.5 1.4 TOTAL ASSETS 9,025.3 8,951.2 Equity 3,369.1 3,322.0 Equity (without minorities) 3,288.6 3,262.0 Minority interest 80.6 59.9 Non-current liabilities 3,903.5 3,907.7 Financial debt 2,870.0 2,938.9 Deferred tax liabilities 931.6 878.4 Other non-current liabilities 101.9 90.4 Current liabilities 1,752.6 1,721.5 Financial debt 1,314.5 1,344.8 Other current liabilities 438.1 376.7 TOTAL EQUITY AND LIABILITIES 9,025.3 8,951.2 2 1 3 The change in investment properties is primarily attributable to the revaluation for the half year (EUR 54.9m), capex (EUR 54.8m), and investments in Poland (EUR 55.3m). In addition, properties with a book value of EUR 643.6m (mostly R4R portfolio) were purchased. Properties with a book value of EUR 18.1m (net) were reclassified from the investment property portfolio; negative FX effects amounted to EUR -24.8m. 1 Reduction of cash position mainly refers to the purchase of the c. 5,300 rental units in Poland (R4R portfolio) closed on 27 May-2026.2 1) Excluding EUR 150m short-term deposits due in April 2026 shown under other current assets 4 The change in equity mainly reflects the net income development less dividend payments (EUR 58.7m) and FX effects (EUR 25.6m) accounted for within equity.3 5 The reduction in current financial debt mainly results from the repayment of corporate bonds in Poland (EUR 44.5m) and promissory notes in Germany (EUR 53.0m). This was almost offset by re-classifications from long-term financial debt (EUR 44.5m). Current liabilites to banks increased by EUR 16.1m. 5 The decrease in long-term financial debt is primarily due to the reduction in liabilities to banks (EUR 121.1m). Additionally, promissory notes of EUR 53.0m were re-classified to current liabilities. On the other side a tap of a corporate bonds by EUR 100.0m had an increasing effect. 4
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Conference Call Presentation H1 2026 | August 2026 | 32 APPENDIX TAG LTV calculation (in EURm) 30 Jun-2026 31 Dec-2025 Non-current and current liabilities to banks 2,207.5 2,312.6 Non-current and current liabilities from corporate bonds and other loans 1,114.7 1,116.6 Non-current and current liabilities from convertible bonds 862.4 854.5 Cash and cash equivalents -555.6 -1,347.91) Net financial debt 3,628.9 2,935.8 Book value of investment properties 7,049.4 6,254.7 Book value of property reported under property, plant and equipment (valued at cost) 1.7 1.6 Book value of property held as inventory (valued at cost) 724.3 713.8 Book value of property reported under non-current assets held-for-sale 2.5 1.4 GAV (real estate assets) 7,777.9 6,971.5 Book value of property for which purchase prices have already been paid or received in advance 72.3 40.4 Difference between fair value and book value for properties valued at cost 98.0 92.0 Shares in joint ventures incl. loans 50.4 51.8 Relevant GAV for LTV calculation 7,998.5 7,155.7 LTV 45.4% 41.0% 1) Including short-term deposits of EUR 150.0m due in April 2026 shown under other current assets in the balance sheet
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Conference Call Presentation H1 2026 | August 2026 | 33 APPENDIX (in EURm) Q2 2026 Q1 2026 H1 2026 H1 2025 FY 2025 + Interest income 8.5 10.2 18.7 12.8 32.2 - Interest expenses -28.4 -28.1 -56.4 -47.9 -103.1 + Income from joint ventures 2.1 1.2 3.3 0.7 13.9 + Other financial result1) -0.1 -14.3 -14.5 -36.6 8.5 = Net financial result -17.9 -31.0 -48.9 -71.1 -48.5 + Non-cash financial result from convertible and corporate bonds 4.5 4.5 9.0 4.7 12.7 + Other non-cash financial result (e.g. from derivatives) -1.7 13.4 11.7 38.0 -18.4 = Net financial result (cash, after one-offs) -15.1 -13.1 -28.2 -28.3 -54.2 - thereof rental -14.7 -12.9 -27.6 -29.0 -54.5 - thereof sales2) -0.4 -0.2 -0.6 0.7 0.3 TAG net financial result calculation 1) Incl. effects from foreign currency translation 2) w/o JV result – part of EBITDA adjusted sales
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Conference Call Presentation H1 2026 | August 2026 | 34 APPENDIX 9.3x 9.9x 8.8x 10.6x 2023 2024 2025 H1 2026 LTM Strong financial discipline as the basis for future growth Development of key financing metrics LTV in %Ø cost of debt in % Interest coverage ratio Net financial debt / EBITDA adjusted 2.2% 2.6% 2.6% 2.7% 2023 2024 2025 H1 2026 5.8x 6.5x 6.1x 6.3x 2023 2024 2025 H1 2026 LTM 47.0% 46.9% 41.0% 45.4% 2023 2024 2025 H1 2026 1) 6.3x reflects total adj. EBITDA of rental and sales business in relation to the group net financial result 2) 10.6x reflects total adj. EBITDA of rental and sales business in relation to the group net financial debt 1) 2)
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Conference Call Presentation H1 2026 | August 2026 | 35 APPENDIX TAG financial covenants overview as of 30 Jun-2026 1) Nominal amounts 2) Based on a last twelve months (LTM) calculation; definitions of the respective covenants differ All capital market instruments in the TAG group offer ample covenant headroom Instrument Volume1) ▪ LTV (net financial indebtedness / total assets) ▪ ICR2) Corporate bonds PLN EUR 111m ▪ Net debt ratio covenants (not calculated on TAG group basis) ▪ Material headroom ▪ max. 60% ▪ min. 1.8x ▪ Total net debt/ total assets ▪ Secured debt/ total assets ▪ ICR2) ▪ c. 42.9% ▪ c. 24.0% ▪ c. 5.5x ▪ max. 60% ▪ max. 45% ▪ min. 1.8x Corporate bonds under DIP EUR 900m Promissory notes EUR 103m ▪ c. 40.2% ▪ c. 6.6x Covenants Thresholds Current status
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Conference Call Presentation H1 2026 | August 2026 | 36 APPENDIX Consistently strong rental performance and a resilient portfolio German portfolio details by region Region Units Rentable area Vacancy Net actual rent Re-letting rent L-f-l rental growth (Y-o-Y) L-f-l rental growth Y-o-Y incl. vacancy reduction Mainte- nance H1 Capex H1 As of H1 2026 # sqm % EUR/sqm/p.m. EUR/sqm/p.m. % % EUR/sqm EUR/sqm Brandenburg 9,355 536,612 2.1 6.62 7.84 2.8 2.9 5.32 12.51 Chemnitz 8,019 473,129 7.2 5.39 5.54 1.9 1.9 2.16 8.66 Dresden 5,910 376,429 1.8 6.36 6.81 1.9 2.0 4.96 6.69 Erfurt 10,140 573,214 1.2 5.87 6.45 3.3 2.9 4.57 7.92 Gera 9,156 531,470 2.6 5.60 5.97 1.9 1.9 2.99 7.87 Hamburg 6,403 392,621 3.4 6.82 7.83 4.7 4.0 5.58 19.98 Leipzig 13,033 754,519 7.2 5.94 6.32 2.3 2.5 4.16 16.70 Rhine-Ruhr 3,681 230,707 1.7 6.33 7.17 3.0 2.6 7.43 16.64 Rostock 7,536 427,845 2.8 6.24 6.92 3.7 6.9 6.61 15.25 Salzgitter 9,180 563,109 5.4 5.91 6.15 4.2 2.9 1.52 3.31 Total residential units 82,413 4,859,655 3.8 6.07 6.58 2.9 3.0 4.26 11.26 Commercial units 964 126,339 16.1 10.24 --- --- --- --- --- Acquisition 592 32,141 21.7 5.51 --- --- --- --- --- Other 104 23,534 0.0 8.95 --- --- --- --- --- Grand total 84,073 5,041,669 4.2 6.17 --- --- --- --- --- Hamburg Chemnitz Dresden Erfurt Brandenburg Salzgitter Rhine-Ruhr Gera Rostock Leipzig
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Conference Call Presentation H1 2026 | August 2026 | 37 APPENDIX Continuous strong rental results and a growing portfolio; vacancy in units that have been on the market for more than a year at just 2.1% Polish BTH portfolio details by region Region Completed units Rentable area IFRS FV1) IFRS FV1) Gross yield Vacancy Net actual rent1) l-f-l rental growth4) (Y-o-Y) As of H1 2026 # sqm EURm EUR/sqm % % EUR/sqm/m % Wrocław 3,455 134,203 449.0 3,346 6.2 4.9 17.09 1.5 Poznań 1,767 71,862 223.1 3,105 5.2 2.5 14.56 3.9 Warsaw 1,755 55,637 231.0 4,152 7.1 2.1 22.71 --- Łódź 1,033 38,569 99.1 2,569 6.4 2.9 13.05 0.8 Kraków 535 17,072 58.3 3,415 7.3 5.5 19.58 --- Gdańsk 483 18,374 73.6 4,006 7.5 27.63) 19.23 --- Total residential units 9,028 335,717 1,134.1 3,378 6.4 5.0 17.12 2.4 Commercial units 91 10,291 34.4 3,343 5.0 20.9 17.61 --- Grand total 9,119 346,008 1,168.5 3,377 6.3 5.4 17.14 --- Further portfolio metrics Total investment costs/sqm (incl. land) in EUR 1) c. 2,400 Average gross rental yield (on cost) c. 7-8% Estimated EBITDA margin >75% Landbank potential units/sqm c. 6,750 / c. 303,400 Landbank and others book value in EURm 298 1) Fair value and net actual rent based on PLN/EUR average exchange rate of 0.2357 and period-end exchange rate of 0.2328 2) Incl. a new project, without this object the vacancy is 2.01% 3) A new project in Gdansk was launched for rent in late December 2025 4) Units in operation for more than one year (l-f-l excludes the acquired R4R portfolio) Wrocław Łódź Poznań Gdańsk Warsaw Kraków
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Conference Call Presentation H1 2026 | August 2026 | 38 APPENDIX Substantial future revenue base across Poland’s largest cities, strong profitability with gross margin exceeding 30% Polish BTS portfolio details by region Further portfolio metrics Total investment costs/sqm (incl. land) in EUR 3) c. 2,200 Average sales price/sqm in EUR c. 3,300 Average apartment size in sqm c. 50 Estimated gross margin >30% Estimated EBITDA margin >20% 1) Book values exclude projects in joint ventures; all other figures include projects in joint ventures 2) Book value includes EUR 1.1m in office properties for own use 3) PLN/EUR average exchange rate of 0.2357 and period-end exchange rate of 0.2328 Region Units under construction Landbank (possible units) Total units Area in sqm (total units) Book value1) As of H1 2026 # sqm # # EURm Warsaw 1,386 9,658 11,044 555,332 Gdańsk 3,031 3,190 6,221 302,764 Wrocław 1,281 2,008 3,289 216,242 Poznań 445 2,150 2,595 145,038 Łódź 379 66 445 18,507 Kraków 0 386 386 20,320 Units build to sell 6,522 17,458 23,980 1,258,203 Wrocław Łódź Poznań Gdańsk Warsaw 295 279 92 111 12 16 805 Kraków
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Conference Call Presentation H1 2026 | August 2026 | 39 APPENDIX High daily trading liquidity of TAG shares – around EUR 27m per day in H1 2026 across various trading platforms Share data 1) Deutsche Börse definition Shareholder structure as of 30 Jun-2026 Share information as of 30 Jun-2026 Market cap EUR 2.7bn NOSH issued 190.3m NOSH outstanding 190.3m Treasury shares 58,564 Free float 1) 100% ISIN DE0008303504 Ticker symbol TEG Index MDAX/ STOXX Europe 600/ EPRA/ DAX 50 ESG Main listing/ market segment Frankfurt Stock Exchange/ Prime Standard 5.1%5.1% 4.7% 4.1% 3.0% 78.0% 5.1% BNP Paribas Asset Management Europe, FRA 5.1% Resolution Capital Limited, AUS 4.7% BlackRock Inc., USA 4.1% Ameriprise Financial Inc., USA 3.0% BNP Paribas Real Estate Investment Management France, FRA 78.0% Other Ø Volume XETRA/ day LTM H1 2026 c. 530,770 shares Ø Volume XETRA/ day LTM H1 2026 c. EUR 7,466,000 Ø Volume all trading platforms/ day LTM H1 2026 c. 1,255,200 shares Ø Volume all trading platforms/ day LTM H1 2026 c. EUR 22,428,430 Trading liquidity LTM and H1 2026 as of 30 Jun-2026 Ø Volume XETRA/ day H1 2026 c. 584,300 shares Ø Volume XETRA/ day H1 2026 c. EUR 8,360,000 Ø Volume all trading platforms/ day H1 2026 c. 1,864,270 shares Ø Volume all trading platforms/ day H1 2026 c. EUR 26,740,00
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Conference Call Presentation H1 2026 | August 2026 | 40 APPENDIX TAG analyst coverage1) 17-Jul 26 Outperform EUR 18.30 15-Jul 26 Outperform EUR 18.00 08-Jul 26 Buy EUR 20.00 01-Jul 26 Outperform EUR 15.50 25-Jun 26 Buy EUR 18.00 24-Jun 26 Buy EUR 17.00 24-Jun 26 Buy EUR 17.00 12-May 26 Add EUR 19.00 12-May 26 Overweight EUR 17.30 12-May 26 Buy EUR 21.60 18-Mar 25 Buy EUR 22.30 Positive view of the strength of the business model supported by the fact that all analyst recommendations are “buy” Median price target: EUR 18.00 100% Buy 1) As of 31 July 2026
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Conference Call Presentation H1 2026 | August 2026 | 41 APPENDIX TAG ESG ratings TAG ranks among the top companies in the real estate sector *Not responsive level: rating only based on publicly available information, no participation of TAG in an active rating process
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Dominique Mann Head of Investor & Public Relations Phone: +49 40 380 32-305 ir@tag-ag.com Martin Thiel CFO and Co-CEO Phone: +49 40 380 32-305 ir@tag-ag.com TAG Immobilien AG Steckelhörn 5 20457 Hamburg Phone: +49 40 380 32-0 www.tag-ag.com