VGP (VGP) investor relations material

Key financials and portfolio overview

• Assets under management reached €9.2 billion across 140 parks in 18 European countries, with 98% occupancy and €488.9 million in committed annualised rent as of June 2026.

• EBITDA stands at €186.4 million, with shareholders' equity at €2.9 billion and a proportional LTV of 49.3%.

• The investment portfolio at share grew to €6.1 billion, with an 8% increase in the first half of 2026.

• 44 buildings are under construction, totaling 1.1 million m², with 74% pre-let.

• The land bank comprises 10.4 million m², embedding 4.3 million m² of development potential.

Business model and growth strategy

• Fully integrated model covers land acquisition, development, ownership, management, and energy, all in-house.

• Growth driven by disciplined capital recycling, joint ventures, and expansion into new markets and platforms, including data centres.

• Joint venture model enables asset recycling, recurring fee income, and capital-light growth.

• Recent shift to a broader capital platform with multiple scalable investment vehicles and a wider investor base.

• Asset management fee income has compounded at 18% annually since 2020.

Development, leasing, and customer base

• 12 buildings delivered in H1 2026, totaling 236,000 m² and €17.1 million in annualised rent; 86% let at delivery.

• 482 tenants across 693 contracts, with logistics, advanced manufacturing, and e-commerce as key segments.

• Committed annualised rental income rose 7.6x since 2016, reaching €488.9 million.

• Rental income potential stands at €800 million, with €419 million already cash generative.

• Standing portfolio is young (average age 5.1 years), large (average 24,000 m²), and 98% occupied.