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| 1FY 2025 RESULTS February 26th, 2026 Colonial SFL 2025 Full Year Results #1
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| 2FY 2025 RESULTS By attending this presentation and receiving this document, you are agreeing to be bound by the following limitations. Any failure to comply with these restrictions may constitute a violation of applicable securities laws and/or may result in civil, administrative or criminal liabilities. This document is strictly confidential and is being furnished to you solely for your information. It may not be reproduced, or redistributed to any other person, and it may not be published, in whole or in part, for any purpose. The information contained in this presentation (“Presentation”) has been prepared by Colonial SFL, SOCIMI S.A. (the “Company”) and has not been independently verified and will not be updated. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein and nothing in this Presentation is, or shall be relied upon as, a promise or representation. None of the Company nor any of its employees, officers, directors, advisers, representatives, agents or affiliates shall have any liability whatsoever (in negligence or otherwise, whether direct or indirect, in contract, tort or otherwise) for any loss howsoever arising from any use of this Presentation or its contents or otherwise arising in connection with this Presentation. This Presentation is for information purposes only and is incomplete without reference to, and should be viewed solely in conjunction with, the oral briefing provided by the Company and the Company’s publicly available information. The information and opinions in this presentation are provided as at the date hereof and subject to change without notice. It is not the intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company’s financial or trading position or prospects. This Presentation does not constitute investment, legal, accounting, regulatory, taxation or other advice and does not take into account your investment objectives or legal, accounting, regulatory, taxation or financial situation or particular needs. You are solely responsible for forming your own opinions and conclusions on such matters and for making your own independent assessment of the Company. You are solely responsible for seeking independent professional advice in relation to the Company. 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Accordingly, the sum of certain data may not conform to the expressed total. Certain statements in this Presentation are forward-looking. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions which could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These include, among other factors, changing economic, business or other market conditions, changing political conditions and the prospects for growth anticipated by the Company’s management. These and other factors could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in this Presentation and based upon past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The market and industry data and forecasts included in this Presentation were obtained from internal surveys, estimates, experts and studies, where appropriate as well as external market research, publicly available information and industry publications. The Company, it affiliates, directors, officers, advisors and employees have not independently verified the accuracy of any such market and industry data and forecasts and make no representations or warranties in relation thereto. Such data and forecasts are included herein for information purposes only. Accordingly, undue reliance should not be placed on any of the industry or market data contained in this Presentation. NEITHER THIS DOCUMENT NOR ANY OF THE INFORMATION CONTAINED HEREIN CONSTITUTES AN OFFER OF PURCHASE, SALE OR EXCHANGE, NOR A REQUEST FOR AN OFFER OF PURCHASE, SALE OR EXCHANGE OF SECURITIES, OR ANY ADVICE OR RECOMMENDATION WITH RESPECT TO SUCH SECURITIES. DISCLAIMER
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| 3FY 2025 RESULTS Agenda 01 Highlights Portfolio Management02 03 Financial Performance Strategic Update04
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| 4FY 2025 RESULTS Gross Asset Value €12.2bn Net Tangible Assets €6.1bn Gross Rental Income €399m +6% LfL 01 Occupancy 92% +62bp vs. 09/25 Rental Growth1 +7% YoY +9% in Paris YoY Loan To Value3 37.1%4 (-105 bp vs. 09/25) 4 3 2 Financial Cost 1.91% Release Spread2 +8% Group YoY +16% in Paris YoY Outstanding operating results with solid execution of the diposal programm EPRA EPS €33.6 cts Confirming guidance EPRA Earnings €211m +9% +€49m Sustained Cash Flow Growth 1 Operational Outperformance Asset Value Growth Capital Recycling 1) ERV Growth for Colonial commercial effort. Signed rents vs 12/24 ERV (new lettings & renewals) 2) Signed rents vs. previous contracts & re-let spaces 3) Proforma EPRA LTV stands at 45.4% including formalized disposals in 2026. EPRA LTV stands at 46.8% 4) Proforma Loan to Value including formalized disposals in 2026. Without including these Loan to Value is 38.5% Disposal Program On Track +€300m delivered YTD Confirming appraisal values Highlights +3.0% LfL Net Tangible Assets €9.70/sh. +1%
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| 5FY 2025 RESULTS 01 Our strategic positioning is set to deliver earnings and value growth Highlights Disposals of +€300m secured YTD ▪ Acceleration of disposal program with 60% secured in three months ▪ Prices confirm asset values – at P/L yields ≤ 4% ▪ +€240m Paris - Landmark disposal of 83 Marceau Deleveraging of capital structure ▪ Group Proforma LTV of 37.1%1 (-105bp vs. 09/25) ▪ Proforma EPRA LTV of 45.4%1 (-156bp vs. 09/25) ▪ Net Debt of €4,973m (Proforma Net Debt €4,684m) Prime Asset Class delivers strong rental growth through superior pricing power GRI like for like growth YoY Superior growth capabilities 3-year EPRA Earnings CAGR Colonial SFL Paris Peer Colonial SFL Peer Peer Peer Peer +9% CAGR 161 172 193 211 2022 2023 2024 2025 (4.6%) 2.8% 3.4% 3.7% 4.0% 5.8% 7.2% 1) Including formalized sale disposals Solid progress on disposals Significant deleverage Acceleration of operations in the quarter 1. Gross Rental Income like for like growth +6% ▪ Among highest in the sector ▪ Spread of +300 bp on indexation 2. Strong ERV growth +7% ▪ More than 400 bp on indexation ▪ Paris Portfolio outstanding with +9% ERV growth 3. Solid GAV like for like growth +3%
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| 6FY 2025 RESULTS 01 The best Prime product delivers outperformance in rental growth Highlights 1) ERV Growth for Colonial commercial effort. Signed rents vs 12/24 ERV (new lettings & renewals) 2) Signed rents vs. previous contracts & re-let spaces Madrid BarcelonaParis Rental Growth1 c.1,200 €/sqm/y 43 €/sqm/m 34 €/sqm/m Maximum rent signed 100% 93% +9% YoY +6% YoY +5% YoY Maximum rent signed Maximum rent signed Rental Growth1 Rental Growth1 Release Spread2 Release Spread2 Release Spread2 Annualized rents signed Annualized rents signed Annualized rents signed +16% YoY +4% YoY +1% YoY €24m FY 2025 €22m FY 2025 €18m FY 2025
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| 7FY 2025 RESULTS Solid progress on disposal program well ahead of schedule 01 Highlights Disposal program on track confirming appraisals +€300m divested in three months since announcement Landmark disposal in Paris of +€240m +€240m Residential Spain €17m JL Tena 7 Madrid BD Ramírez Arellano Madrid BD Madrid €43m Disposal Program +€500m >300m executed Program execution well ahead of schedule 83 Marceau Paris CBD Prices confirming appraisals and at a ≤ 4% running P&L yield €0.5bn +€300m executed YTD €100m in negotiation
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| 8FY 2025 RESULTS Portfolio Management02
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| 9FY 2025 RESULTS 52 64 2024 2025 02 Portfolio Management Our Prime portfolio delivers outstanding letting performance Madrid €22m €64m Annualized GRI ParisBarcelona €18m Strong growth in annualized GRI Robust letting performance across Barcelona, Madrid & Paris €m +22% YoY €24m 147,580 sqm 134,797 sqm +12,783 sqm YoY Madrid 70,554 sqm 147,580 sqm signed Paris 18,081 sqm Barcelona 58,946 sqm 62% of surface from New lettings & Re-letting
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| 10FY 2025 RESULTS Paris Prime letting activity achieving record rents 02 Portfolio Management Champs Élysées 92 - Retail Paris CBD Louvre Saint Honoré - Office Paris CBD Rental price > 3,700 €/sqm/y Rental price c. 1,200 €/sqm/y +18% ERV 12/24 1) Rent for office contracts +11% ERV 12/24 Washington Plaza Paris CBD Édouard VII Paris CBD 103 Grenelle Paris City Centre Rental price 1,000 €/sqm/y +9% ERV 12/24 +5% ERV 12/24 Record Rental Price signed on this asset c.1,000 €/sqm/y Rental price c.1,000 €/sqm/y1
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| 11FY 2025 RESULTS 32.1 40.0 2024 2025 Madrid & Barcelona: Increasing momentum with strong rental growth 02 Portfolio Management Spain stands out in annualized GRI growth €m +25% YoY Quality-led new lettings & renewals at top rents Diagonal 197 Barcelona 22@ Rental price +26 €/sqm/m +16% ERV 12/24 Diagonal 609 - 615 Barcelona CBD +19% ERV 12/24 Rental price +34 €/sqm/m Diagonal 682 Barcelona CBD +4 - 8% ERV 12/24 Rental price +27 - 28 €/sqm/m D. Ramón de la Cruz 84 Madrid CBD Rental price +31 €/sqm/m +15% ERV 12/24 Recoletos 37 Madrid CBD +13% ERV 12/24 Rental price +43 €/sqm/m Castellana 52 Madrid CBD +6% ERV 12/24 Rental price +36 €/sqm/m Barcelona €18m annualized GRI 58,946 sqm leased Madrid €22m annualized GRI 70,554 sqm leased
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| 12FY 2025 RESULTS Accelerating rental growth & strong release spread across prime markets 02 Portfolio Management Accelerating rental growth1 1) Signed rents vs previous year ERV (new lettings & renewals) 2) Signed rents vs. previous contracts & re-let spaces Release spread driven by Paris market2 5% 7% 2024 2025 +4% +1%Barcelona Paris Madrid +20% +1% (1%) +8%Group +8% 2024 2025 +9% +6% +5%Barcelona Paris Madrid +6% +4% +4% +7%Group +5% 2024 2025 +186 bps +16% +19% offices
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| 13FY 2025 RESULTS 13 5 8 Signed YTD Remaning to be let Total Delivered projects progressing through lease-up 02 Portfolio Management Madnum: Advancing towards full occupancy Haussmann: Driving interest from top tier corporates Solid Progress on Madnum letting Passing rent - €m €14m Annualized Passing Rent Captured +44,000 Sqm signed Bifurcation towards quality driving Prime Paris delivery Passing rent - €m €5m Annualized Passing Rent Captured +39% Signed 2025 Q1 2026 +74% Signed +4,700 sqm signed 14 217 Signed YTD Remaning to be let Total
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| 14FY 2025 RESULTS 91% 92% 93% 09/25 12/25 12/25 Proforma with contracts signed in Madnum & Haussmann Strong Group EPRA occupancy Madnum & Haussmann 4.0% Available prime space provides additional reversion Madnum Prime Paris 0.9% 1.0% 0.6% Prime Madrid & Barcelona2 Secondary Madrid/Barcelona 1.6% Barcelona 22@ Leasing momentum driving occupancy recovery Haussmann 02 Portfolio Management 1) Includes Ericsson contract & new floor signed in Haussmann as of Q1 2026 2) Includes CBD & City Centre 2.6% 134 bps improvement due to contracts signed in Madnum and Haussmann as of 26th Feb 2026 +62 bp 1 Floor signed Haussmann Q1 26
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| 15FY 2025 RESULTS 03 Financial Performance
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| 16FY 2025 RESULTS 391 399 21 11 (23) 12/24 Core Portfolio LFL Delivered Projects & Acquisitions Condorcet & Haussmann 12/25 03 Financial Performance Core Portfolio & Project deliveries drive strong rental income growth Gross Rental Income Variance €m 1) Like-for-like calculated following EPRA BPR recommendations 2) Includes Condorcet & Haussmann entries into refurbishment as well as small other non like for like impacts +8% Like for like1 Delivery of Projects 2 Gross Rental Income Total Increase YoY Core Portfolio Like for like1 +6% Gross Rental Income Growth (%) Delivered Projects & Acquisitions +2% +2% Alpha Condorcet & Haussmann (6%) +8% Madnum Madrid City Centre 2 1
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| 17FY 2025 RESULTS (4.6%) 2.8% 3.4% 3.7% 4.0% 5.8% 7.2% 356 377 10 5 6 LfL GRI 12/24 Indexation Rental Growth Premium Occupancy LfL GRI 12/25 03 Financial Performance Strong Gross Rental Income like for like growth through superior pricing power €m Gross Rental Income Like for Like1 1) Like-for-like calculated following EPRA BPR recommendations +2.7% +1.5% +1.6% +6% like for like Colonial SFL outperforms in LfL rental growth Gross Rental Income Like for Like YoY Colonial SFL | Paris Peer Peer Peer Peer Peer Asset Class Prime Office & Other Office & Other Office & Other Office Office & Other Colonial SFL Prime Avg. Peers
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| 18FY 2025 RESULTS 18 6 16 193 (21) 211 Recurring Profit 12/24 Core Portfolio Project Deliveries & Acquisitions SG&A, Financial Cost & Others Condorcet, Haussmann & Other no LFL Recurring Profit 12/25 03 Financial Performance EPRA earnings growth on the back of strong operations €m EPRA EPS EPRA Earnings Variance 1) Includes overheads, financial costs, taxes, other income, minorities of SFL & others 2) Includes Condorcet & Haussmann entries into refurbishment as well as other non like for like impacts +9% 1 2 +20% 193 211 12/24 12/25 €m +9% YoY EPRA Earnings FY25 EPS Towards the upper range of the guidance €33cts. - €34cts. 33.6 €/cts.
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| 19FY 2025 RESULTS 11,646 12,203 267 88 202 GAV 12/2024 Rental growth & project delivery Rates & other Net acquisitions GAV 12/2025 03 Financial Performance Gross Asset Values grow in all geographies Gross Asset Values GAV Like For like Variance 5.0% 4.8% BARCELONA MADRID 4.2%PARIS Valuation Yield2 - 2H 25- €m +3.0% like-for-like GROUP +3.9% +5.7% +2.0% 2025 +3.0% 1) Colonial office portfolio in Operation, Capital values as of 2H25 2) In Spain consultants publish gross yields whereas in France consultants publish net yields. Office yields portfolio in operat ion. +115bp Yield Expansion Since 06/2022 +76bp +74bp
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| 20FY 2025 RESULTS 03 Financial Performance Resilient asset values supported by transactional evidence Solid Gross Asset Value like for like growth 1) Colonial office portfolio in Operation, Capital Values Appraisal as of 31/12/25 22,000 €/sqm 7,400 €/sqm 8,000 €/sqm 10,600 €/sqm €385m +€240m €60m+€100m €109m Underpinned by increasing momentum in investment markets Inc. Retail 18,492 €/sqm 1 BARCELONA MADRID PARIS 6,914 €/sqm 1 5,284 €/sqm 1 Paris CBD 83 Marceau Paris CBD 10 Hoche Paris CBD 29 Champs Élysées Madrid City Centre Retama 3 (Faro) Madrid CBD Gamazo Barcelona City Centre Estel Paris Madrid & Barcelona 33,000 €/sqm €402m
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| 21FY 2025 RESULTS What we promised… …is being delivered Accelerated execution of disposal program in three months 03 Financial Performance Disposal Program announced in 11/25 > Planned execution in 18 – 24 months > Confiming Gross Asset Values > Disposals of non-core or mature assets with no further value creation > P/L running Yield ≤ 4% at disposal prices €0.5bn Residential 30% Paris 50% Madrid & Barcelona 20% €300m disposals executed – 60% of target in three months > +€240m in Paris (100% completed) > €43m in Commercial assets Madrid (43% completed) > €17m in Residential Spain +€240m Residential Spain €17m JL Tena 7 Madrid BD 1 2 R. Arellano Madrid BD Madrid €43m 83 Marceau Paris CBD 1 2 €0.5bn +€300m executed YTD €100m in negotiation
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| 22FY 2025 RESULTS 4.9 5.0 4.7 09/25 12/25 12/25 Proforma 03 Financial Performance Strengthened balance sheet and improved leverage Improved leverage metrics Robust liquidity position and credit ratings Net Debt €bn Loan-to-Value % EPRA Loan-to-Value % 38.1% 38.5% 37.1% 09/25 12/25 12/25 Proforma 47.0% 46.8% 45.4% 09/25 12/25 12/25 Proforma Improvement €222m Improvement 105bp Improvement 156bp Competitive cost of debt 1.9% High liquidity1 2.2 €bn 1) Including undrawn lines and cash Well covered debt maturities 1.6x Coverage 26- 27 maturities Benefiting from hedging strategy in place BBB+ Baa1
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| 23FY 2025 RESULTS 1.7% 1.8% 1.7% 1.9% 0% 1% 2% 3% 4% 5% 2022 Colonial SFL secures competitive financial costs with proactive hedging strategy Cost of debt reflecting hedging strategy in place 1) EUR 5-Year Interest Rate Swap (Bloomberg: EUSA5) + 100 bp spread 2) EUR 5-Year Interest Rate Swap (Bloomberg: EUSA5) 3) Spot cost of current gross debt including hedging instruments 4) Estimated spot cost of gross debt at constant debt of closing 2025 5) At constant net debt of closing 2025 Strong balance sheet protection & contained debt cost Colonial SFL cost of debt3 5Y Swap2 03 Financial Performance 1.9% 0% 1% 2% 3% 4% 5% 2025 2026e 2027e 2028e Colonial SFL cost of debt4 Net debt fixed or hedged5 100% 99% 94% 85% Market Price1 2.6% 3.6% 2022 2023 2024 2025
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| 24FY 2025 RESULTS Strategic Update04
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| 25FY 2025 RESULTS Three Pillars for Colonial SFL’s Strategic Framework 04 Strategic Update Alpha XPrime CBD Operations Portfolio Management Capital Allocation ▪ Divestment Plan +€1b asset sold in last 3 years ▪ Prime Investment Opportunities ▪ Above Average Returns ▪ Driver of Mid-Term EPS Growth ▪ Prime Factory Approach ▪ Superior Value Creation ▪ Pricing Power & Differentiation ▪ Paris/ Madrid/ Bcn ▪ Strong Reversion 1 2 3 Strategic Pillars Capital Allocation Process Deleveraging Prime Factory Existing Portfolio New Investments Capital Return to Shareholders Uses of Capital EPS & DPS Growth - Guidance 4 Shareholder Remuneration 5 Value Creation
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| 26FY 2025 RESULTS 7% 3.3% Colonial SFL Indexation 04 Strategic Update Prime CBD Operations: Outperformance in absolute & relative terms (4.6%) 2.8% 3.4% 3.7% 4.0% 5.8% 7.2% Colonial SFL outperforms in LfL rental growth Gross Rental Income Like for Like YoY Colonial SFL | Paris Peer Peer Peer Peer Peer Asset Class Prime Office & Other Office & Other Office & Other Office Office & Other Avg. Peers Colonial SFL Prime GRI like for like growth +300 bp above indexation1 1) Indexation captured in Gross Rental Income during the year 2025 2) Signed rents vs 12/24 ERV (new lettings & renewals) 3) Annualized impact on contracts subject to indexation Prime CBD Operations 1 ERV growth2 +400 bp above indexation3 Group Paris Portfolio 6% 2.7% Colonial SFL Indexation 7% 2.3% Colonial SFL Indexation 9% 2.1% Colonial SFL Indexation Group Paris Portfolio 682 bp433 bp 309 bp 3 3 1 1 385 bp
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| 27FY 2025 RESULTS 1) 1-Year New Supply vs. 5-Year Average Transactions 2) Considering projects >5,000 sqm - Paris CBD rental growth - ≥1,000 €/sqm/y signed rent Prime demand supports continued rental growth Reinforced market bifurcation towards high quality Source: BNP Paris CBD leasing by rent bracket % number of operations 04 Strategic Update Source: BNP - Paris CBD new supply rapidly absorbed - 1.2% Grade A vacancy CBD ▪ Tenant demands increasingly focused on high quality assets, which experience rent hikes and minimal vacancy In a context of Prime product scarcity 7% 27% 40% 2023 2024 2025 10m ▪ Prime CBD vacancy remains very low, reflecting strong occupier demand ▪ Planning constraints and project selectivity continue to limit new completions in CBD Absorption of New Supply1 – Years Prime CBD Operations: Paris Prime Asset Class Market1 Prime CBD Operations 131 13 2026 2027 - 28 New CBD completions2 In thousand sqm 0.6 years Absorption New Supply Source: CBRE, BNP 0.60.9 1.9 3.1 2.9 Paris CBD
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| 28FY 2025 RESULTS - Structurally constrained Prime stock - Continued tension in Grade A Prime assets ▪ Office conversions: >1m sqm of office in Spain converted to alternative uses (2023–2025), selectively affecting obsolete stock and ultra-prime assets ▪ Increasing attractiveness of the Spanish market & continued polarization driving imbalance ▪ Multi-year low CBD vacancy rates (3.9% in Barcelona & 2.8% in Madrid) CBD Vacancy and Grade A vacancy (%) Source: CBRE 6.4% 3.9% 3.0% 1.1% 2024 2025 3.6% 2.8% 1.4% 0.8% 2024 2025 Barcelona CBD Madrid CBD 04 Strategic Update Madrid Prime CBD Madrid A1 Sources: CBRE, BNP 36 40 44 48 49 52 16 16 18 19 20 21 21 23 25 27E 29E Market rents (€/sqm/m)Surface let in Madrid CBD & City Centre (%) 50% 59% Q4 2024 Q4 2025 - The best locations are sought after - ▪ Flight to quality continues to concentrate demand in well-located, ESG-compliant Prime assets… ▪ …Driving superior rent growth CBD Grade A CBD Grade A Prime CBD Operations: Madrid & Barcelona Prime Asset Class Market1 Prime CBD Operations 900 bp
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| 29FY 2025 RESULTS 04 Strategic Update Haussmann Scope Condorcet Sancho de Ávila Santa Hortensia 2025 2026 2027 2028 Madnum Project & Renovations 87,000 sqm Close to 200,000 sqm in Urban Transformation Initiatives with +€100m of rental income Diagonal 197 Business Campus 22.000 sqm 41,860 sqm 46,928 sqm Business Campus Business Campus Madnum Urban Mixed Use Alpha X - Project Pipeline More than 110,000 sqm Urban Mixed Use Urban Mixed Use LifeScience/ Healthcare 1) Stabilized Earnings per share run rate €m Topped-up GRI timeline Fully delivered Pending capex €159m €108m €267m €20m Passing rent captured Fully Prelet Ongoing conversations with market operators 13 +100 25 64 2025 2026 2027 - 2029 Total Secured +€25m Secured +€100m Topped-up GRI Alpha XAlpha X: Prime Factory as a solid source for mid-term EPS growth2 Additional EPRA EPS of more than 11 €/cts1
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| 30FY 2025 RESULTS 04 Strategic Update 3 Portfolio Mgmt & Capital Allocation Portfolio Management & Capital Allocation Disposal Program ahead of plan €500m Disposal Program with solid progress 1. Strong execution YTD at attractive prices ▪ Execution of €300m of disposals in 3 months: 60% of total program ahead of time ▪ Disposal Prices ≥ appraisal values ▪ More than €240m in Paris at record level ▪ Running P/L Yields ≤ 4% ▪ Forward looking ungeared IRRs ≤ 5% 2. Strong visibility for circa €100m of additional divestments to be completed in 1H 2026 3. Divestment Program completion on track Capital Allocation More Disposals to come New Investment Opportunities in Prime ▪ Prime Core+: Geared IRR ≥ +10% ▪ Visibility on accretive deals of €200m Science & Innovation Platform on Track ▪ Target IRRs and Yields confirmed ▪ €120m Third Party Capital of Global Institutional Investor Deleveraging of Colonial SFL ▪ LTV decrease of more than 100 bp ▪ EPRA LTV decrease of more than 150 bp Share BuyBacks as additional tool ▪ BuyBack program approved by board 1 2 3 4
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| 31FY 2025 RESULTS 128 161 172 193 211 2021 2022 2023 2024 2025 04 Strategic Update EPS & DPS Growth - Guidance 1) Subject to approval by Annual General Meeting 2) Group Loan to Value 4 EPS & DPS Growth/ Guidance 2026 34-35 32 EPS DPS paid1 €cts./share EPS & DPS GuidanceOur Prime Startegy delivers consistent EPS & DPS growth €cts./share EPRA EPS Significant EPS growth acceleration in 2027-2028 ▪ Detailed 2026-28 Guidance to be provided on next CMD in May 2026 ▪ Long term LTV2 2028 below 40% EPRA Earnings Strong EPS Growth Profile based on Prime CBD Operations + Alpha X 25 30 32 33 34 2021 2022 2023 2024 2025 +8% CAGR +37% €m +13% CAGR +65%
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| 32FY 2025 RESULTS 04 Strategic Update Attractive Shareholder Remuneration 15 20 24 30 2016 2019 2022 2025 Historical Dividend Paid €cts./share DPS paid 1) DPS yield based on 2026 proposed DPS of €32cts. and stock closing price as of 18 th Feb 2026 2) Subject to approval by Annual General Meeting Remuneration Proposal for 2026 5 Shareholder Remuneration Growing shareholder remuneration with 6% DPS Yield1 based on Prime collateral €50m Share Buyback Cancellation of 5m treasury shares2 DPS paid €32cts.2 (+2cts.) + +
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| 33FY 2025 RESULTS 04 Strategy & Outlook Outlook & Guidance Strategic Update Colonial’s Prime Platform delivers profitable growth Guidance > Short-term EPRA EPS 2026 of 34-35 €cts. > 2025 DPS (to be paid in 2026) of 32 €cts. complemented by €50m buyback and 5m treasury shares cancellation > Significant EPS growth acceleration in 2027-2028 Save the Date – 21st May 2026 – Barcelona Invitation to be sent in due course 2026 Capital Markets Day 1. Colonial SFL’s Prime Portfolio guarantees sustained high rental growth driving recurring earnings 2. Our Prime Factory Pipeline will deliver more than €100m of rents in the coming years 3. We are successfully executing our disposal program following a disciplined capital allocation framework 4. We are committed with a strong capital structure 5. Our Business Plan envisages solid growth in the coming years
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| 34FY 2025 RESULTS THANK YOU https://www.colonial- sfl.com/en/investors
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| 35FY 2025 RESULTS 33.0 33.6 12/24 12/25 193 211 12/24 12/25 321 333 12/24 12/25 391 399 12/24 12/25 PROFIT & LOSS ACCOUNT RECURRING EARNINGS GROSS RENTAL INCOME EPS RECURRING €cts/share€m €m RECURRING EBITDA €m +2% YoY +6% Like- for-like +2% YoY +4% YoY +9% YoY Appendices – 01 Financials & Operations Results analysis - €m FY 2025 FY 2024 Gross Rents 399 391 Net operating expenses & Overheads (65) (69) Recurring EBITDA 333 321 Recurring financial result (83) (77) Income tax expense & others - recurring (3) (14) Minority interests - recurring (36) (38) Recurring Earnings 211 193 Change in fair value of assets & provision 131 101 Non-recurring financial result & MTM (5) (2) Income tax & others - non-recurring 18 62 Minority interests - non-recurring (9) (45) Profit attributable to the Group 344 307 Recurring earnings - €m 211 193 Nosh (mm) 627 583 EPS recurring - Cts€/share 33.6 33.0
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| 36FY 2025 RESULTS Resilient asset values underpin NTA progression Solid Gross Asset Value like for like growth 1) Gross Asset Value Like for Like growth year-over-year 2) Colonial office portfolio in Operation, Capital values as of 2H25 +2.0% GAV LfL1 18,492 €/sqm 2 BARCELONA MADRID PARIS +5.7% GAV LfL1 6,914 €/sqm 2 +3.9% GAV LfL1 5,284 €/sqm 2 +1% €m Net Tangible Assets 6,036 6,08522 211 (183) NTA 12/24 NTA Growth & Other Earnings Dividend NTA 12/25 9.62 €/share 9.70 €/share Appendices – 01 Financials & Operations
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| 37FY 2025 RESULTS Colonial SFL delivers pricing power over Inflation Barcelona Paris Madrid Indexation2ERV Growth 1 +9% +6% +5% Group +7% +2.1% +2.6% +2.7% +2.3% YoY 1) Signed rents vs 12/24 ERV (new lettings & renewals) 2) Annualized impact on contracts subject to indexation Spread over Indexation 682bp 326bp 191bp 433bp ERV vs Indexation Colonial SFL ERV growth delivers significant spread above indexation Appendices – 01 Financials & Operations
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| 38FY 2025 RESULTS Prime CBD Operations 1 Prime CBD Operations: Strong reversion driving future EPS growth Prime Paris Madrid & Barcelona Louvre St. Honoré - Office Paris - 1st Arrondissement 90 Champs - Élysées Paris - 8th Arrondissement +€13m GRI +€7m GRI Rest of Paris portfolio +€12m GRI Barcelona portfolio Madrid portfolio +€32m GRI reversion +€20m GRI reversion +€9m GRI +€10m GRI More than €50m of additional revenues 32 >50 9 10 Paris Madrid Barcelona ERV growth Total GRI reversion potential €m Appendices – 01 Financials & Operations
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| 39FY 2025 RESULTS City Centre 49% Periphery 51% The Prime Asset Class delivers the highest rental growth Colonial’s playing field Madrid Prime CBD PARIS - Office rental market Market rents (€/sqm/m) Madrid A1 Source of market information: CBRE data as of Feb26 Colonial Paris Portfolio1 Peer1 2 Peer1 1 Source of market information: CBRE data as of Feb26 SPAIN - Office rental market Colonial Madrid & BCN Portfolio1 Peer1 2 Peer1 1 Appendices – 02 Real Estate Market & Growth 1) Based on company data: Office exposure: GAV last reported date Prime CBD Colonial’s playing field Market rents (€/sqm/y) Periphery City Centre 59%NBA 34% Periphery 7% Paris City 28% La Défense 41% Other Locations 32% Paris City 80% La Défense 5% Other Locations 14% 36 40 44 48 49 52 16 16 18 19 20 21 21 23 25 27E 29E 930 1,070 1,250 1,391 1,490 320 320 320 322 338 21 23 25 27E 29E Paris City 99% City Centre 87%
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| 40FY 2025 RESULTS 434 >575 25 64 >52 Passing Rent 12/25 Madnum & Renovation Program Project Pipeline Alpha X Reversion & Indexation Potential Rents Significant Additional Revenue Growth On track to capture +€150m of growth Investments & Revenue Growth increasing passing rents Significant growth profile at adjusted Risk Return Annualized Topped-up GRI (€m) 1) Includes formalized office disposals during Q1 2026 2) Includes Diagonal 197 & Haussmann 419 434 (12) 27 Passing Rent 12/24 Disposals Growth 2025 Passing Rent 12/25 2 1 Appendices – 02 Real Estate Market & Growth
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| 41FY 2025 RESULTS Renewed transaction momentum in core markets - Paris Transaction Market Recovery- Trocadéro <4.5% yieldParis CBD €700m Core Plus 29 Champs-Élysées 33,000 €/sqmParis CBD €402m Value add +51% in investment volume YoY in Greater Paris Source: CBRE, Press Reports, Company Press Releases Marceau Paris CBD +€240m Core Le Most 24,000 €/sqmParis CBD +€100m Return of major deals with Q4 investment volumes in commercial real estate at €2.9bn, highest quarter since 2022 Estel Barcelona City Centre - Record Breaking Activity in Spain - Largest ever single asset office transaction in Barcelona 1,210 596 1,209 906 727 1,364 2020 2021 2022 2023 2024 2025 Source: CBRE, Press Reports Highest transaction volume in Madrid postpandemic Madrid annual office investment €m 4.6% Q4 2025 4.9% Q4 2024 Market Prime Yield CBD +88% YoY €385m 7,400 €/sqm Barcelona Market > Institutional liquidity > International tenant attraction > Pricing depth Appendices – 02 Real Estate Market & Growth
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| 42FY 2025 RESULTS Latest Market transactions Source: public information, press and consultants Appendices – 03 Market Transactions PARIS Asset Area Price GLA Cap. Value €402m29-33 Champs-Élysées 12,000 sqm €33,000 /sqmCBD Transaction not completed €78m54 Rue de Londres 4,622 sqm €17,000 /sqmCBD(Dec 25) +€100m10 Hoche 4,495 sqm +€22,000 /sqmCBD(Dec 25) +€360m32 Rue Blanche 22,124 sqm +€16,000 /sqmCBDTransaction not completed +€100m4 Pl. de la R. Dominicaine (Most) 4,172 sqm +€24,000 /sqmCBD(Oct 25) Capital 8 Transaction not completed +€1bn 45,000 sqm €22,000 /sqmCBD €137m39 Rue du Colisée 6,193 sqm €22,000 /sqmCBD(Jan 26)
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| 43FY 2025 RESULTS Latest Market transactions Asset Area Price GLA Cap. Value MADRID Source: public information, press and consultants €80m 13,400 sqm €6,000/sqmCity Centre BARCELONA Appendices – 03 Market Transactions Gran Via de les Corts Catalanes 764 (Dec 2025) €385m 52,000 sqm €7,400/sqmCity CentreEdificio Estel (Jan 2026) €40m 6,186 sqm €6,500/sqmCBDDiagonal 431 Bis (Dec 2025) c.€250m n.d. n.d.City CentreGran Vía 28 €100m 20,000 sqm €5,000/sqmM-30C. Albacete 5 (Los Cubos) Transaction not completed c.€110m 14,000 sqm c.€8,000/sqmCity CentreC. del Ombú 6 (Dec 2025) Transaction not completed €109m 13,688 sqm €8,000/sqmCity CentreC/ Retama 3 (Faro) (Sep 2025)
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| 44FY 2025 RESULTS Clear Leadership on ESG & Decarbonization 6.0 Rating A – Score – 5th year in a row 5 STAR – 6th year in a row 6.0 Top 0.15% (negligible risk) Leader among Ibex 35 - 3rd year in a row ranked 1st - Global Ranking: Top 0.2% (22 out of 14,412 companies) Real Estate Ranking: Top 0.5% (5 out of 950 companies) REIT Ranking: Top 1.0% (4 out of 410 companies) STANDING INVESTMENTS RATING 94/100 score DEVELOPMENT BENCHMARK RATING 98/100 score Max. Score Consolidating Global Leadership 2019 2020 2021 2022 2023 2024 2025 C A- A A AA A > Colonial maintains A rating for the 5th year in a row > A list represents less than 4% of all participants (877 A list a companies out of 22,000) > 7 companies among Colonial’s peers in the RE sector have reached A List, 4 of them maintain A score from last year Appendices – 04 ESG
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| 45FY 2025 RESULTS 700 - 500 1,125 500 800 599 599 300 -- - - 150 100 1,835 2026 2027 2028 2029 2030 2031 Green Bonds Green Loans Undrawndown balances Maturity profile of debt facilities - €m EXTENSION OF DEBT MATURITIES A Solid Financial Structure Net Debt LTV1 Total Facilities Cash Liquidity Debt Maturity Group2 Non-Mortgage debt Cost of Debt Group3 31/12/2025 €4,973m 37.1% €2,085m €150m €2,235m 4.3 years 100% 1.91% 31/12/2024 €4,465m 36.0% €2,570m €543m €3,113m 4.1 years 100% 1.70% Maturities covered by current liquidity Appendices – 05 Financial Structure Solid financial structure with strong coverage of mid term maturities 1) Including formalized sale disposals 2) Average maturity calculated based on net debt and total facilities 3) Includes interest hedging instruments and excludes commission accruals
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| 46FY 2025 RESULTS Pre-hedge strategy covers 62% notional and at rates below current market 2,4% 1,5% 1,6%Pre-hedge price (%) (strike) Hedge ratio (%) Bonds maturity for the next 3 years (€m) 1 700 599 1,099 2026 2027 2028 1,9% 5… 4… 73% 58% 57% Hedged Unhedged 5… 4… 62% Average Appendices – 05 Financial Structure
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| 47FY 2025 RESULTS © 2026 Colonial SFL www.colonial-sfl.com