CTP (CTPNV) investor relations material

Executive summary

• Achieved record Q1-2026 leasing activity of 762,000 sqm, up 83% year-over-year, with 445,000 sqm from new deals and the remainder from renewals, mainly with existing clients; strong tenant demand driven by nearshoring and regionalisation.

• Occupancy remained stable at 93% with high client retention (95%) and rent collection (99.5%).

• Annualized rental income rose 14% year-over-year to €849.3 million, targeting €1 billion by 2027, supported by a robust development pipeline.

• Portfolio reached 14.7 million sqm GLA, with 2 million sqm under construction and a landbank of 33.3 million sqm supporting future growth.

• Portfolio growth driven by logistics, wholesale, and retail sectors, with 73% of new leases signed by existing clients.

Financial highlights

• Gross rental income for Q1-2026 was €205.1 million, up 12.3% year-over-year; net rental income reached €199.6 million, up 11.3%.

• Adjusted EPRA earnings increased 11.4% year-over-year to €119.5 million; adjusted EPRA EPS rose 8.7% to €0.25.

• Portfolio revaluation in Q1-2026 was €164.1 million, with a yield on cost of 10.4% for delivered projects.

• Total portfolio asset value (GAV) reached €18.9 billion, up 2.2% from year-end 2025.

• EPRA NTA per share increased 12.3% year-over-year to €20.95.

Outlook and guidance

• Confident in achieving €1 billion annualized rental income by 2027 and doubling portfolio to 30 million sqm GLA by around 2030.

• Full-year 2026 adjusted EPRA EPS guidance of €1.01–€1.03, implying 9–11% growth year-over-year, reaffirmed.

• Targeting delivery of 1.4–1.7 million sqm in 2026 and continued double-digit NTA growth per annum.

• Progressive dividend policy with 70–80% payout of adjusted EPRA EPS; default scrip dividend with cash option.

• Expect continued strong leasing in Q2 and ongoing double-digit rental income growth.