PSP Swiss Property (PSPN) Investor update summary

Richtipark disposal and financial impact

• Richtipark was sold for CHF 175 million, with CHF 150 million paid immediately and CHF 25 million in an earn-out structure, previously valued at CHF 110 million.

• The earn-out consists of three milestones: two at CHF 10 million and one at CHF 4.75 million, linked to project development, with confidence in achieving these milestones.

• Richtipark comprised four plots and five commercial buildings, sold to La Foncière Urban Development S.A.

• The Richtipark sale contributed CHF 40 million to EBITDA, raising 2026 guidance to CHF 335 million.

• No further development property sales are planned for 2026.

Portfolio changes and cash deployment

• 50% of Richtipark proceeds were used to pay down debt; the other 50% funded a CHF 75 million Zürich property acquisition generating CHF 2.1 million in net rental income.

• The sale of Wallisellen results in a net annual rental income loss of CHF 2 million after the new acquisition.

• Revenue from Wallisellen up to the sale date is recognized; future revenue is not.

Rental situation and vacancy outlook

• Vacancy rate guidance for the full year is confirmed and unaffected by recent transactions, forecast at 3.5% for year-end 2026.

• The Wallisellen vacancy was not included in the vacancy rate calculation.

• No other large projects are expected to impact the vacancy rate.