Gazit Globe : Q1 2021 - Presentation

FINANCIAL RESULTS FIRST QUARTER OF 2021 May 2021

GREAT THINGS HAPPEN WHEN YOU OWN GREAT REAL ESTATE

1

DISCLAIMER	GREAT THINGS HAPPEN WHEN
	YOU OWN GREAT REAL ESTATE

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 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 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-19pandemic and its 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 Gazit-Globe 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 Gazit-Globe Ltd.

2

Tenant sales in ISRAEL increase after

lockdown reliefs In months March and April compared to same period in 2019, excluding lockdown period and cinemas which remain close

7.2%

363.0%

GAZIT

GLOBE First Quarter of 2021 Operational Performance

Same Property NOI

Same property NOI decreased by 18.2% compared to the same period in 2020.

The decrease is due to the restrictions imposed by the governments in countries where the company operates following the COVID-19 epidemic outbreak, except for the U.S, which was fully operational for business throughout the quarter.

-8.1%	-11.9%	-36.0%+11.6% -41.0%		- 18.2%
Northern	CEE	Brazil	U.S.	Israel		Total
Europe

Proportionate NOI	298	ו NIS Million
Proportionate NOI decreased by 12.1%	262
(at comparable exchange rate decreased
by 9.7%) compared to the same period in			)12.1%(
2020
	Q1/2020	Q1/2021

Occupancy Rate

As of March 31, 2021

98.1%	86.0%	95.1%	91.7%	93.2%

93.2%

Total

Israel

U.S.

Brazil

CEE

North Europe

3

GAZIT

GLOBE Urban Assets Portfolio Providing Daily Needs and Services

Lease agreements in the Group

# of assets

As of March 31, 2021

Supermarkets in

the Portfolio

Contribution of the largest

tenant in the Group

according to proportionate

NOI

9,200

102

140 ~1.8%

Geographic Diversification Based on

Proportionate NOI*:

Germany	Brazil	Canada	Israel
9%	1%	11%
1%
Russia			U.S
7%			4%
Slovakia
2%
			Norway
			14%
Czech
7%

Sweden

9%

Poland

20%

Finland & Estonia

15%

Tenant Mix Based on Proportionate NOI*

	DIY, Home Furniture 3%
Entertainment	Supermarket, Drugstores 15%
5%

Non Apparel Retail

22%

Offices, Banks,

Clinics, Services

14%

Cafe & Resturants

11%Apparel

30%

80% Of Gazit's Assets Are Located In 16 Metropolitan Areas.

Tel Aviv	Boston
New York	Warsaw
Prague	Stockholm
Sao Paulo	Helsinki

Quality Assets Portfolio that Incorporates Partially Open-Air Assets in Densely Populated Urban Areas, Not relied On Dominant Tenants.

4 *Company share in group proportionate NOI for the first quarter of 2021.

GAZIT

GLOBE

Lockdown Periods in Wholly Owned Subsidiaries

Strong Rebound When Centers Reopened

• Israel - Shopping centers were close for 52 days (57%) during first quarter of 2021
• US - All properties were open during the first quarter of 2021
• Brazil, Sao-Paulo- Shopping centers were closed from March 6th until April 18th 2021, as of reporting date all shopping centers are open

Jan-20Feb-20Mar-20

Apr-20

May-20Jun-20

Jul-20

Aug-20Sep-20Oct-20

Nov-20

Dec-20Jan-21Feb-21Mar-21

Apr-21

Malls

Strip Centers

		Lockdown		Normal
5		Period		Operations