Hamborner REIT (HAB2) Company presentation summary

Portfolio overview and strategy

• Portfolio consists of 63 properties valued at €1,341m, split 56% retail and 44% office, with a focus on high-yield, diversified assets and a consistently high occupancy rate of 96.5%.

• Strategic shift towards retail, especially local supply and DIY, with a mid-term target to reduce office exposure to 10-20% and expand retail investments in core and core+ segments.

• Portfolio growth has averaged 2.1% annually over the last decade, with recent disposals and revaluations reflecting market adjustments.

• Tenant structure is dominated by food retail and DIY, with the top 10 tenants accounting for over half of annualized rents.

• Active asset rotation and manage-to-core approach support portfolio optimization and risk diversification.

Financial performance

• Rental income for Q1 2026 was €22.6m (down 1.9% YoY), with funds from operations (FFO) at €11.7m (down 1.6% YoY).

• REIT equity ratio improved to 56.2%, loan-to-value (LTV) decreased to 43.1%, and EPRA NAV per share rose to €9.27.

• Dividend payout for 2025 proposed at €0.39 per share (65% payout ratio), with a forecasted FFO for 2026 between €38m and €42m.

• Financial liabilities total €637.6m with an average cost of debt at 2.2% and a debt maturity of 3.0 years.

• Dividend strategy targets a payout of 60-70% of FFO, maintaining attractive yields and flexibility for portfolio investments.

Sustainability and ESG

• ESG integrated into overall strategy, with a dedicated committee and clear targets for decarbonization and stakeholder engagement.

• Targeting a 50% reduction in energy-related emissions by 2030 and net zero by 2045, with a focus on property efficiency, renewable energy, and tenant cooperation.

• Maintenance and decarbonization investments planned at €8.5m–€12.9m annually through 2028.

• Emission intensity reduced from 56.4 kgCO₂e/m² in 2021 to 45.1 kgCO₂e/m² in 2024, on track for 2030 targets.

• Ongoing dialogue with stakeholders and continuous ESG performance measurement underpin sustainability efforts.