MLP Group (MLG) Investor presentation summary

Investment profile

• Vertically integrated European logistics platform developing, owning and managing modern, multi-tenant Class A warehouse and industrial assets across Poland, Germany, Austria and Romania.

• Growth focuses on urban logistics and industrial properties in major cities, where constrained land, limited supply and permitting challenges support demand and pricing power.

• Project delivery track record spans 15 years of on-time, on-budget execution, supported by a robust balance sheet, conservative financial policy and revaluation gains.

• More than 60% of portfolio GLA was developed in the past 5 years; ~85% of assets are under 10 years old, with average building age of ~6.4 years at 30 June 2026.

• Tenant base has 7.3-year WAULT, 99% retention and 24% like-for-like rental growth as of LTM June 2026; most tenants are Dun & Bradstreet rated 1 or 2.

Operating and financial performance

• Occupancy was 94.6% at YE2025 and improving; vacancy was 5.4% and declining, while tenant retention remained 99% and rent collection stayed strong with negligible write-offs.

• Portfolio GLA reached ~1.7m sqm in 1H2026, up ~54% from YE2023; estimated vacant GLA was ~89k sqm, with growth characterized as rapid but without structural vacancy build-up.

• 1H2026 rental income was €35.1m, up 33% YoY; EBITDA before revaluation was €29.6m, up 18% YoY.

• GAV was €1.71bn, up 10% vs. Dec 2025; NAV was €0.78bn, up 3%, and NAV per share was €32.6, also up 3%.

• 1H2026 net profit was €36.8m versus €18.8m in the prior-year period.

Growth strategy and market positioning

• Structural trends include nearshoring, manufacturing growth in CEE and Germany, Chinese industrial investment in Europe, and planned EU defence investment of up to €800bn by 2030.

• Product mix spans Big Box warehouses, 700–2,500 sqm Business Park units and City Park units of ~300–1,000 sqm; strategy prioritizes expanding city logistics.

• Poland’s share of portfolio mix declined from 81.9% at YE2023 to 70.6% in HY2026 and is projected at 64.6% by YE2027; Germany’s share rose from 13.3% to 20.1% and is projected at 27.0%.

• Poland H1 2026 market indicators included 38.0m sqm stock, 6.3% vacancy and 2.1m sqm net take-up, up 56% YoY; footprint covers major demand hubs and warehouse corridors.

• Germany H1 2026 take-up was reported at ~3.0–3.7m sqm by research firms, with improving demand, constrained core-market supply and prime rents up to €11.25/sqm in Munich.