Immobiliare Grande Distribuzione SIIQ (IGD) Investor presentation summary

Strategic positioning and business overview

• Leading developer and manager of retail assets in Italy, with a focus on long-term value and sustainability.

• Total portfolio market value at €1.8 billion, with 96% of assets in Italy and 6% in Romania.

• High financial occupancy rate of 95.57% and net rental income of €82.6 million for 9M 2025.

• Strong governance structure with a diverse and experienced board.

• Listed on Euronext STAR with a market cap of approximately €392 million as of November 2025.

Financial performance and capital structure

• Net rental income freehold up 3.8% like-for-like; core business EBITDA up 2.9% like-for-like in 9M 2025.

• Funds From Operations (FFO) increased by 18.2% to €31.1 million in 9M 2025.

• Group net profit reached €17.6 million, a significant turnaround from a €32 million loss in 2024.

• Loan to value improved to 44.0%, with net debt at €792 million and average cost of debt reduced to 5.3%.

• €300 million green bond issued in November 2025, extending average debt maturity to 4.9 years.

Market trends and operational highlights

• Italian real estate investments exceeded €13 billion in the last 12 months, with retail transactions up 74% YoY.

• Tenant sales in Italian malls grew by 1.3%, and footfalls increased by 3.7% in 2025.

• Occupancy in Italian malls and hypermarkets reached 96% in Q3 2025.

• Significant new tenant openings and ongoing digitalization initiatives, including loyalty apps and tenant platforms.