Globe Trade Centre S A : GTC Group Q1 2023 results

Q1 2023 RESULTS

Investors' Presentation

25 May 2023

CONTENTS

FINANCIAL RESULTS

• Revenues from rental activity at €43m in Q1 2023 (€42m in Q1 2022)
• Gross margin from rental activity at €30m in Q1 2023 (€30m in Q1 2022)
• FFO I at €16m in Q1 2023 (€16m in Q1 2022), FFO per share at €0.03
• EPRA NTA at €1,276m as of 31 March 2023 (€1,273m as of 31 December 2022) EPRA NTA per share at €2.22 (PLN 10.39)
• Net LTV at 45.2%¹ (44.5%² as of 31 December 2022)
• Occupancy at 87% as of 31 March 2023 (87% as of 31 December 2022)
• Strong cash position of €147m and available undrawn credit facility in the amount of €94m

€43m€16m €147m 45.2%87%

€94m undrawn credit facility

source: GTC | as of 31 March 2023 I Notes (1) Includes non-current financial assets; (2) Includes non-current financial assets and adjusted for disposal of Forest Offices Debrecen, concluded on 30 January 2023;.

DISTRIBUTION OF PROFITS AND SHARE BUY BACK

• Management recommends to keep the profit for 2022 in the Company to finance capital expenditures and investments that may provide measurable benefits to the shareholders. In particular:
• • cash preservation considering upcoming challenges, especially in the office sector and changing market environment,
  • development of existing projects in its pipeline,
  • acquisition of new projects,
  • capital expenditures in order to maintain or increase the standard of some of the properties in its real estate portfolio, in particular in light of increasing expectations of the tenants in respect of environmental (ESG) requirements.
• GTC management will seek authorisation for a share buy back:
• • for up to 15% of share capital, i.e. 86,138,268 shares
  • price range of PLN 5 to PLN 7
  • authorisation valid until June 2024
• The shares acquired by the Company under the buy-back programme may be redeemed or used for any purpose permitted by law.

OFFICE: STRONG LEASING ACTIVITY

Green office portfolio with 85% of assets certified

• Leasing activity reached 20,700 sq m in Q1 2023 (25,600 sq m in Q1 2022):

• Nexi Croatia signed a lease in Matrix C, Zagreb (c. 5,000 sq m)

• • Prolongation of Ford lease in Vaci Greens D, Budapest (c. 2,300 sq m)
  • Prolongation of KPMG lease in Francuska Office Centre, Katowice (c. 1,700 sq m)
  • Prolongation of Strabag lease in Korona Office Complex, Krakow (c. 1,400 sq m)
  • Arthrex Adria chose Matrix C, Zagreb (c. 1,300 sq m)
  • Prolongation of AON lease in Vaci Greens D, Budapest (c. 1,300 sq m)
• Occupancy at 84% as of 31 March 2023 (84%¹ in December 2022)
• Disposal of Forest Offices Debrecen, office building in Hungary in January 2023. The selling price was €49m.

FOREST OFFICES

source: GTC | as of 31 March 2023 | Note: (1) Includes assets held for sale.