2022 RESULTS PRESENTATION

March 23, 2023

DISCLAIMER

This document has been prepared by VBARE Iberian Properties SOCIMI, S.A. (the "Company") and its subsidiaries (the "Group").

This Presentation does not constitute or form part of, and should not be construed as, any offer to sell or issue or invitation to purchase or subscribe for, or any solicitation of any offer to purchase or subscribe for, any securities of the Company in any jurisdiction, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. Any purchase of or subscription for securities of the Company should be based solely on each investor's own analysis of all public information, the assessment of risk involved and its own determination of the suitability of any such investment. No reliance should be placed and no decision should be based on this Presentation.

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The information contained in this Presentation does not purport to be comprehensive or to include all information that may be required to fully analyze the issues referred to therein. Accordingly, no representation or warranty, express or implied, is made as to the truth, accuracy or completeness of the information in this Presentation. None of the Company, any of its subsidiaries, or any of their respective directors, officers or employees accepts any responsibility or liability whatsoever for any loss howsoever arising from any use of this Presentation or otherwise arising in connection therewith.

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INDEX

  1. 2022 Operating Performance
  2. 2022 Financial Performance
  3. Annex: Portfolio Overview

2022 HIGHLIGHTS

HIGH COMMERCIAL ACTIVITY WITH 79 LEASES SIGNED IN 2022 WITH A STRONG RELETTING

SPREAD

RECORD NET OCCUPANCY OF 98.44% AT YEAR END 2022 SHOWING STRONG DEMAND

LIKE-FOR-LIKE GRI INCREASE +21.3% Vs. 2021

8.69% LIKE-FOR-LIKE PORTFOLIO REVALUATION Vs. DEC. 2021 (2.78% NET OF CAPEX INVESTED)

€648k NET CONSOLIDATED GAIN THANKS TO GRI IMPROVEMENT AND PORTFOLIO REVALUATION

22 UNITS SOLD IN 2022 FOR A TOTAL AMOUNT OF APPROXIMATELY €3.4 MILLION AND APPROXIMATE WEIGHTED LEVERAGED RETURNS OF AN IRR OF 14.24% AND A MULTIPLE OF 1.74x.

€0.755 PER SHARE DISTRIBUTIONS CARRIED OUT IN 2022 (SHARE PREMIUM+DIVIDEND)

EQUIVALENT TO A DIVIDEND YIELD OVER SHARE PRICE IN 2022 OF 10.5%

100% FINANCIAL DEBT FORMALIZED AT FIX INTEREST RATE1

1. It exists two loans amounting €11.68 mn which accrues a fix interest rate during the first 12 years and variable from year 13 and a 1.5mn loan extension which accrues a fixed interest rate during the first 5 years and variable until maturity.

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1. 2022 OPERATING PERFORMANCE

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VBARE Iberian Properties SOCIMI SA published this content on 23 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 March 2023 06:32:10 UTC.