1H 2022 results presentation

PHYSICAL RETAIL ALIVE AND WELL WITH GOOD PERFORMANCES

• Retailers’ sales at Italian malls largely in line with 2019; average ticket up +17.3% in June
• Upside on new leases: +2.5% Italy; +3.5% Romania
• Financial occupancy: Italy 95.1% +30bps vs 1q2022; Romania 92.9%, an additional 3 thousand square meters already pre-let

FINANCIAL INDICATORS ON THE RISE

• Net rental income: €57.1 million (+2.9%; +16.0% like-for-like)
• FFO: €34.0 million (+11.0%)
• Net rent collection in 1H2022: >90% in Italy; c. 93% in Romania

VALUATIONS STABILIZED

• Market value of the freehold portfolio: €2,143.5 million (Like-for-Like: +0.84%)
• EPRA NAV and NRV of €10.73 p.s. (-1.1%)

DEBT MATURITY PROFILE IMPROVES

• The first Green Loan of €215 million obtained
• €60 million in committed credit lines renewed through 2025
• Financial maturities basically covered for all of 2023; next significant maturities in 2024

OUTLOOK

• New guidance for FFO 2022: confirmed the growth trajectory with respect to FY 2021, +2/3% (compared to +9/10% announced in February)

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