G City : Q3 2022 - Presentation

FINANCIAL RESULTS THIRD QUARTER 2022

NOVEMBER 2022

THE HEART OF IT.

DISCLAIMER

THE HEART OF IT.

This presentation may include forward-looking statements as defined in section 32A of the Securities Law, 1968, including forecasts, evaluations, estimates, financial and operational data that refers to future events whose fulfillment is not certain and is not under the control of the Company and its investee companies, forecasts and data in respect of projects in planning and development, forecast development timetables, construction costs and future revenues and other financial information, and the impact of the COVID-19 pandemic as well as the war between Russia and Ukraine, and the resulting global economic crisis. Such information is based on the Company's subjective evaluation based upon past experience and the professional knowledge the Company has accumulated, using the Company's and its investee companies' existing knowledge, and on the Company's expectations and current estimates concerning future developments and trends, and their expected impact on the Company's operations, as known to the Company at the time of preparation of this presentation.

Notwithstanding that we believe that the assumptions underlying any forward-looking assumption are reasonable, any such assumption can turn out to be inaccurate, and a forward-looking declaration based on such an assumption can turn out to be erroneous. Actual results and future trends might materially change from those presented or understood from any forward- looking declaration in this presentation, dependent on a range of factors. These include risk factors that characterize the Company's business and that of its investee companies as detailed in the Company's Periodic Report and other information the Company published in its immediate and periodic reports we have submitted to the Israel Securities Authority, including under the heading of "Risk Factors" in the Company's Periodic Report, which include economic conditions that impact on geographic regions, changes in leasing policies of retail chains and major tenants, risks involved in the area of renovation and development of properties, competition, growth in operating costs and other expenses, developments in the economic and geopolitical environment in areas where the Company and its investee companies operate, including with attention to the COVID-19 pandemic as well as the war between Russia and Ukraine and its their global and macro-economic effects, as well as receipt of regulatory approvals required in order to realize development potential. Accordingly the results of the Company's operations may be materially different from what is stated in this presentation.

Apart from the duty to disclose information as required under the applicable securities laws, we do not undertake to update the information in this presentation or to publish the results of any change to any declaration that might occur in order to reflect events or circumstances that will have occurred, or to which we became aware, after the date of this presentation.

The information included in this presentation does not represent a prospectus or other offering document, and is not and does not create any invitation of proposal to sell or any solicitation for any invitation or offer to purchase or register for purchase any securities of G City Ltd or any other company. In addition the information or any part of it or the fact of its distribution do not represent the basis or possibility to rely upon them in respect of any action, contract, undertaking or in connection with securities of G City Ltd.

2

URBAN ASSET PORTFOLIO PROVIDING DAILY NEEDS AND SERVICES

Quality Assets Portfolio

					Residential
DIY & Homegoods				For Rent
2%		2%
Entertainment							Supermarkets
4%								& Pharmacy
								16%
Non Apparel							Health, Banks.
Retail							Offices &
22%		Tenant Mix	Services
		14%
			Based on
		Proportionate

THE HEART OF IT.

7,357	+13.8%
Lease agreements	Increase in Same
in the group
Store NOI this
	quarter

Supermarket Anchored Assets in Densely Populated Urban Areas, Not relied On Dominant Tenants

80% Of G City's Assets Are

Located In 16 Metropolitan

Areas

Café &	NOI
Resturants
11%		Apparel
		29%

	Brazil		Canada
	10%		1%
Russia				Israel
4%
				17%

	Geographic
Czech Republic	Diversification	USA

36

NIS Billion value of real estate for investment and

development

106

• of assets as of September 30, 2022

Prague	Tel Aviv
Stockholm	Boston
Helsinki	New York
Sau Paulo	Warsaw

7%		Based on	12%
		Proportionate
		Investment			Norway
		Property Value	9%
Poland				Sweden and
21%						Denmark
				7%
				Finland and Estonia
				13%

2,950	140
Residential Units	Supermarkets
in the portfolio
for rent in different
stages	3

Third Quarter 2022

OPERATIONAL PREFORMANCE - MAIN RESULTS

Proportionate NOI

(Adjusted for exchange rate, NIS Millions)

THE HEART OF IT.

Above	Of rental income in the
90%	group are CPI linked

			.
Approx						Increase in same
14%					properties NOI

282	328
16.3%
Q3/2021	Q3/2022

Approx. Expanded solo debt is 57% non-CPI linked*

The Economic FFO This Quarter

(Adjusted for exchange rate, NIS Millions)

102	118
	15.7%
Q3/2021	Q3/2022

Occupancy Rate	93.6%	93.4%	98.0% 98.0%	93.5% 90.7%	93.4% 94.3%	91.8% 92.6%	94.9% 93.0%
As of September 30, 2022
+0.2%
Total
	Total	Israel	USA	Brazil	CEE	Northern
									Europe
					9/2021		9/2022

*The figures are after the effect of hedging transactions and without a hybrid bond that is not CPI linked and carried a fixed interest rate.	4

Third Quarter of 2022

Key Items in Wholly Owned Companies

	Israel	North America	Brazil	CCE	Total
GLA ('000 SQM)	161	122	176	772	1,232
# of Income Producing	13	19	7	25	64
Assets1
Occupancy Rate	98.0%	93.5%	93.4%	91.8%	93.0%
Changes in New Lease	4.3%	227.0%	24.0%	32.0%	5.7%
Agreements, Including the
Exercise of Options
Investment Property	3,696	2,405	2,551	8,567	17,219
(NIS Million) 1
Investment Property Under	875	1,298	106	929	3,208
Development and Land
(NIS Million) 1
	Commercial,	Commercial,	Commercial,	Commercial,
	Office,	Office,	Office,
Uses	Office &	-
Residential and	Residential and	Residential and
	Services
	Services	Services	Services

(1)	Including assets in shared control.	(3) Central Europe does not include Russia,
(2)	In North America, there were no renewals of commercial land
including Russia for the third quarter were signed

and an increase of approx. 27% in residential land for rent.	new contracts in 82 thousands SQM, and in decrease of 1.9%.

THE HEART OF IT.

PROMENADA | WARSAW 5