Big Shopping Centers (BIG) Investor presentation summary

Balkan retail portfolio and value creation

• Serbia and Montenegro portfolio: 18 yielding assets, 368k sqm, 15k sqm of extensions and 42k sqm of future projects; asset value €692m and normalized 2024 NOI €56m.

• Balkan assets include 11 retail parks, 3 shopping malls, a designer outlet, office building, mixed-use project and logistics park.

• Asset value reached €692m in 2023 from €173m in 2018, with 32% average annual growth over the period.

• BIG Pančevo NOI rose from €3.1m at 2018 purchase to €4.1m in Q1 2024; yield on cost increased from 8.12% to 10.32%.

• Planned BIG Šabac, BIG Čačak and BIG Bor projects target 10%–10.75% yields, with estimated openings from Q3 to Q4 2025; BIG Fashion Podgorica plans to add ~17k sqm GLA.

Poland platform and pipeline

• BIG Poland snapshot: 47.5k sqm of GLA, €79.8m asset value, €5.75m normalized 2024 NOI and €42.6m loans at 53% LTV, as of 27 May 2024.

• BIG Andrychów had 24k sqm GLA, 100% occupancy and €2.85m estimated 2024 NOI; BIG Lubin had 13.4k sqm, 98% occupancy and €1.85m NOI.

• BIG Łubna had 10.2k sqm GLA, 90% occupancy and €1.16m estimated 2024 NOI at full occupancy; extensions across existing centers total 1.9k sqm GLA.

• BIG Ostróda is under construction at 24.7k sqm GLA, €34m cost and €3m expected NOI, with Q3 2024 opening; BIG Olkusz and BIG Piła target Q4 2025 and Q1 2026 openings.

• Towarowa 22 in Warsaw is a 70%-share mixed-use project with 152k sqm total GLA, including 81k sqm offices, 63k sqm rental apartments and 8k sqm retail.

AFI Europe operating portfolio

• AFI Cotroceni in Romania had 87.2k sqm GLA, 100% occupancy and €45.9m 2023 NOI, with 18m visitors during 2023.

• Czechia office assets total 114k sqm GLA and €21.3m NOI at ERV; the Czech portfolio also has 873 operational rental apartments.

• Serbia portfolio recorded 238k sqm GLA and €15.3m consolidated NOI in 2023; year-end occupancy was 96%, or 88% including AFI Zmaj West.

• Poland operations list 68k sqm of operational office GLA and 84k sqm under development, alongside 1,505 rental apartments under construction.