VGP : Company Presentation October 2022

1

€6.53bn1

Total GAV

19

Countries

104

Parks

169

Number of completed buildings

3.5 years

Average

building age

• Pan-European operator, owner and developer of prime logistics and
	light industrial parks
•	Fully integrated business model with expertise across value chain:
	c.385 FTE's in 19 countries
•	High quality standardised logistic and semi-industrial real estate

415

Tenants

	99%2		8.3 years3		€281.1mm		4.57%5
			Committed
	Occupancy		WALT		annualised		Yield
					rental income

	asset base
•	All new buildings delivered at certified DGNB Gold or equivalent4
•	Fully let standing portfolio and significantly pre-let development
	pipeline: Completed portfolio is 99%2 let and portfolio under
	construction is 87.4% pre-let

€200.8 mm6	35.2%7	€2.2bn
EBITDA	Gearing ratio	Shareholders' Equity

: BBB-

• VGP well financed and strongly capitalized: shares listed on Euronext
  Brussels since 2007 and included in the BEL20 Index since 2022
• Successful and long-term partnership with Allianz Real Estate since 2016: 4 joint ventures since inception

Source: company information as of 30 June 2022

1Gross Asset Value of VGP, including Owned Portfolio and joint ventures at 100% as of 30 June 2022; 2Including JV portfolio at 100%;

3Refers to WALT of JV and Owned Portfolio combined; 4For al construction started-up after 1 January 2022; 5 Weighted average yield of owned standing property portfolio as of 30 June 2022; 7Operating EBITDA (Incl. JV at share) and is calculated as investment EBITDA, property development EBITDA and property management and asset management EBITDA; 7 Calculated as Net debt / Total equity and 2 liabilities.

1Source: Company information as of June 2022

1 https://www.vgpparks.eu/en/newsroom/investor-news/vgp-announces-pan-european-corporate-solar-energy-deal-to-power-alll-vgp-offices-with-100-renewable-electricity/

Carbon footprint scope 1 and 2 reduction

• On track to achieve net carbon neutrality by 2025 and 50% gross reduction by 2030
• All VGP offices green energy PPA contract as of 1 Jan 20221

Carbon footprint scope 3 reduction

• Engaging with tenants on self-consumption renewable energy
• Aim for net 55% reduction of "in-use" scope 3 carbon emission by 2030
• All new builds (as of March 2022) will be realized without gas sourced heating systems where feasible

VGP Renewable Energy

• 120,9 MWp installed or under construction and 53,7 MWp in pipeline
• Multiply installed capacity 2x by 2025 to 300MWp
• Supporting tenants in switch to green drive-train technologies

Green Building Certification

• All buildings started after 2020 received green certifications and this represents 61.2% of the portfolio as of June 2022
• Aiming for BREEAM Excellent / DGNB Gold for all new builds in 2022 on a best-efforts basis (required minimum BREEAM Very Good)

Buildings life-cycle management

• Conducting a research project (in partnership with EBRD) on ways to advance

circular building materials usage within the VGP Building Standard

3

Governance

• Implemented principles 3.19 of the Belgian Code on Corporate Governance by appointing Company Secretary
• Updating charter and various policies and guidelines to demonstrate highest standards of business conduct and integrity

Diversity and talent management

• Board continues diversity lead with 60% female board members
• Various training/development initiatives being implemented
• Conducted inaugural annual group employee satisfaction survey

VGP Foundation

• 19 environmental, 5 culture and 5 social projects supported thus far
• €12 million commitment made available until 2022
• VGP donated €3 million for Ukrainian refugee support in neighbouring countries

Climate change management

• Evaluating Carbon Risk Real Estate Monitor 2050 pathway analysis for portfolio compliance on a best efforts basis

ESG disclosure

• GRI compliant CR disclosure

• Annual CDP and GRESB submission

• Initial Sustainalytics score; plan to initiate MSCI ESG and S&P Global CSA

score in 2022

4

Investment portfolio breakdown

Geographic footprint of the portfolio1

(as of fair value)1

Completed vs Under construction vs

Geographic breakdown

Development land

Development land

3%

3%

Other

€0.7bn

6%

11%

4%

Under

construction8% €1.5bn

24%

	9%
Completed	55%
€4.3bn
65%
	12%

Portfolio breakdown by ownership

GAV breakdown	(€bn)
Own GAV	2.57
JVs at 100%	3.96
Total GAV (own + JV at 100%)	6.53

36	18
3,601	803	16
		3
		571								# Parks
		493
		3
		7	5	3	9
		247		3
		180		4	1
		197	146	127		1	1	0	0	0
				84
				31	24
						13
							5

Western Europe2 represents 72% of total portfolio as of June '22
Assets well located in proximity to highways and ring roads and along important logistics axes	5
Source: company information as of June 2022
1Includes Own and 100% of JVs at GAV; 2Includes Germany, Netherlands, Italy, Spain, Portugal and Austria as per EPRA definition