Q1 2024 BUSINESS UPDATE

24th May 2024

Presenting Team

Jon Armentia

Hernán San Pedro

Corporate Director and CFO

Investor Relations and Corporate

of Lar España

Communication Director of Lar España

2

Index

1

Operating,

financial and

Closing

Highlights

2

ESG results

3 Remarks

BBB

3 Q1 2024 BUSINESS UPDATE

1Highlights

Highlights

Our strategy continues to deliver strong results

12 DOMINANT

ASSETS

GLA 480,451 sqm

CONFORTABLE

EFFORT RATE1

10.2%

STRONG RESULTS

RECURRING NET

PROFIT

+20.8% vs Q1 23

1 Including expenses

2 Declared sales

3 Like for Like excluding Vistahermosa and Rivas retail Parks

4 Pro-forma Net LTV after 2023 dividend payment would be 34.5%

EXCELLENT ACTIVE

MANAGEMENT

GRUPO LAR

INCREASING SALES €228.9 Mn SALES2 +7.5%3 vs Q1 23

REDUCING

NET LTV

29.5%4

OPTIMAL MIX OF

RETAILERS

90% TIER 1

RENTS GROWING

GRI +4.8% LfL3

vs Q1 23

OUR HIGHEST

ORDINARY DIVIDEND

12.9% DIV. YIELD

5

Q1 2024 BUSINESS UPDATE

2Operating, financial and ESG results

Operating, financial and ESG results

Leasing activity Q1 2024

EFFORT RATE

GLA ROTATED

NEGOTIATED

RENT UPLIFT

RENT

10.2%1

5,490 sqm

€1.7 Mn

+0.8%2

31

6

19

6

Operations

Relettings

Renewals

New lettings

1

Including expenses

2

Above CPI/indexation adjustments

7

Q1 2024 BUSINESS UPDATE

Operating, financial and ESG results

With the different sales segments in good health

FOOD

€38.0 Mn

+6.7% vs Q1 2023

FASHION

€81.4 Mn

+9.1% vs Q1 2023

DINING

€25.2 Mn

+10.6% vs Q1 2023

HOME

€29.5 Mn

+4.7% vs Q1 2023

HEALTH &

BEAUTY

€19.0 Mn

+12.8% vs Q1 2023

SPORTS AND

LEISURE

€25.0 Mn

+5.0% vs Q1 2023

8 Q1 2024 BUSINESS UPDATE

Operating, financial and ESG results

Demonstrating the resilience of our business

Evolution of declared sales vs same period of the previous year

Average

Sales Q1 20241: €228.9 Mn

growth by

quarter

40%

38.0%

+16.4%

29.2%

30%

24.3%

24.1%

21.3%

16.0%

20%

7.2%

13.9%

7.9%

7.5%

8.7%

7.9%

7.5%

10%

0%

Q1 2021

1H 2021

9M 2021

FY 2021

Q1 2022

1H 2022

9M 2022

FY 2022

Q1 2023

1H 2023

9M 2023

FY 2023

Q1 2024

Evolution of footfall vs same period of the previous year

Footfall Q1 2024: 16.8 Mn visits

Average

growth by

30%

28.0%

quarter

22.8%

+11.3%

25%

20%

11.7%

15.6%

16.2%

13.8%

15%

9.9%

8.1%

10%

5.6%

3.7%

5.0%

3.7%

2.6%

5%

0%

Q1 2021

1H 2021

9M 2021

FY 2021

Q1 2022

1H 2022

9M 2022

FY 2022

Q1 2023

1H 2023

9M 2023

FY 2023

Q1 2024

1 Declared sales

9 Q1 2024 BUSINESS UPDATE

Operating, financial and ESG results

Operating and financial results Q1 2024

Results

GRI

NOI

EBITDA

RECURRING

ORDINARY

NET PROFIT

EPRA EARNINGS

€23.7 Mn

€19.9 Mn

€16.6 Mn

€17.4 Mn

€15.3 Mn

+4.8% LfL1 vs Q1 2023

+5.2% LfL1 vs Q1 2023

= vs Q1 2023

+20.8% vs Q1 2023

+19.4% vs Q1 2023

Assets

GAV

EPRA "TOPPED-

OCCUPANCY

WAULT

COLLECTION RATE

UP" NIY

€1,313 Mn

6.8%

96.8%

2.5 years

98.1%

1 Like for Like excluding Vistahermosa and Rivas retail parks

Q1 2024 BUSINESS UPDATE

10

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Disclaimer

Lar España Real Estate SOCIMI SA published this content on 24 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 May 2024 11:37:02 UTC.