European Residential Real Estate Investment Trust (ERE-UN) investor relations material

Executive summary

• Completed sale of nearly 2,000 residential suites in the Netherlands and 300,000 sq ft of commercial GLA in Belgium and Germany for EUR 490 million in 2025, with an additional EUR 89 million in committed dispositions expected to close in early 2026.

• Portfolio reduced from 3,000 units to 619 residential suites and 100,000 sq ft of retail space, positioning for a final transaction.

• Paid a special cash distribution of EUR 0.90 per unit to unitholders and ceased regular monthly distributions.

• Ongoing sale process for remaining assets, with BMO Capital Markets as advisor.

• Actively managing Dutch tax authority reassessments and related structural matters during wind down.

Financial highlights

• Net proceeds from asset sales used to repay EUR 245 million in mortgage debt, strengthening the balance sheet.

• Leverage ratio reduced to a record low of 30.5% at year-end 2025.

• Available liquidity of EUR 36.7 million at year-end, reflecting reduced credit facility.

• NAV per unit (diluted) was EUR 0.89 at year-end 2025, down from EUR 2.07 in 2024.

• Total portfolio operating revenues and NOI fell sharply year-over-year due to asset sales.

Outlook and guidance

• Well-positioned to pursue a final transaction for remaining assets, with BMO Capital Markets as advisor.

• Focus on maximizing value from remaining assets and completing wind-down, with no assurance of successful or value-accretive sales.

• Commitment to disciplined and transparent wind down in the interests of unitholders.