Ctp N.v. · EURONEXT:CTPNV
Ctp — Q3 2026 Earnings Presentation
45 slides from Ctp's earnings presentation, Oct 29, 2026
Slide 1: CTP N.V. Financial Highlights Q3-2026
CTP N.V. Financial Highlights Q3-2026 29 October 2026
Slide 2: Q3-2026: Continuous cash flow growth and profitable development
Q3-2026: Continuous cash flow growth and profitable development Financial highlights Operational highlights €632M €19.1B 93% (93% as at 31 Dec 2025) 6.3 yrs (+12.5% vs. 9M-2025) (+4.8% vs. 31 Dec 2025) (6.3 years as at 31 Dec 2025) Gross Rental income Total Investment Property Occupancy WAULT €365M
Slide 3: CTP: Global platform and CEE market leader
CTP: Global platform and CEE market leader BRNO Portfolio Value by Country (%) AT IT VN NL 1.2% 1.4% 0.2% DE 2.5% 10.7% BG 1.9% 15.1M RS sqm GLA 3.7% PL 7.8% €19.4bn CZ 39.7% 1.7M GAV sqm GLA under construction SK 7.5% HU 8.7% RO 33.4M NB: Figures may not add up due to rounding 14.5% sqm landbank 3
Slide 4: A proven compounding track record since IPO
A proven compounding track record since IPO Double-digit annual growth since 2011 with steady ~95% occupancy +18% +20% +18% +17% +23% +14% CAGR since IPO: GLA Annualized Landbank EPRA NTA Investment EPRA EPS rental income 33.4M sqm per share Property €1.01-1.03 15.1M sqm €871M €20.78 €19.1B guidance
Slide 5: Proven build-to-own business delivers growth opportunities from embedded client base
Proven build-to-own business delivers growth opportunities from embedded client base, financed by growing cash flow from operator Operator Developer Growth engine Leveraging €1 billion 33.4 million sqm >1,700 clients annualised rental income of land with potential development profit to come of CTP G
Slide 6: Integrated & de-risked business model, growth driven by existing clients
Integrated & de-risked business model, growth driven by existing clients 15.1M sqm GLA in existing parks / >1,700 clients 10-15% ~93% new space client developed per year retention 1.7M sqm 63% of new leases signed under construction with existing clients 33.4M sqm landbank 55% 39% in existing parks
Slide 7: Development continues to deliver double-digit yields
Development continues to deliver double-digit yields Development YoC Pre-let at Q3 Projects under Construction 13.5% 11.6% 92% 11.0% 80%-90% 88% 10.8% 86% 10.3% target 10.1% 10.0% 10.0% 10.0% 80% range 77% 64% 63% 55% 48% 2019 2022 2024 2020 2021 2023 2025 Q3-2026 - construction achieved 2022 2023 2
Slide 8: Unlocking the landbank value through profitable development
Unlocking the landbank value through profitable development FV of landbank on balance sheet of ~€60 per sqm Average construction costs ~€500 per sqm Total investment costs (€500 + 2 * €60) ~€620 per sqm Investment properties valued at ~€1,060 per sqm Potential revaluation gains ~€440 per sqm (72%) B
Slide 9: High pipeline granularity with over 90 projects across 60 locations
High pipeline granularity with over 90 projects across 60 locations Current development pipeline split by location Diversification of development risk Average project size c.18k sqm Over 90 projects and 60 locations Developing in 10 out of 12 markets Focus in and around existing parks (93% of under
Slide 10: Record leasing in 2026 with growing rents
Record leasing in 2026 with growing rents Leases signed, sqm Q1 Q2 Q3 Q4 FY 2024 336,000 582,000 577,000 618,000 2,113,000 +23% YTD-2026 YoY increase in sqm of 2025 416,000 599,000 562,000 748,000 2,325,000 leases signed 2026 762,000 813,000 368,000 Avg. monthly rent leases signed per sqm (€). Not Q
Slide 11: Increasing leasing activity
Increasing leasing activity YTD leasing activity (‘000 sqm) 1 943 1 577 1 495 1 398 1 434 9M-2022 9M-2023 9M-2024 9M-2025 9M-2026 NB: Figures may not add up due to rounding 11
Slide 12: New leasing rental tone in 9M-2026 +1% higher than 9M-2025
New leasing rental tone in 9M-2026 +1% higher than 9M-2025 (Adj. for country mix1) NL PL €5.54 €5.51 DE €11.98 €7.85 €11.21 €5.24 YTD-2025 YTD-2026 YTD-2025 YTD-2026 YTD-2025 YTD-2026 CZ2 SK 158,659 294,613 sqm sqm 17,978 44,894 79,548 201,016 €6.83 €6.29 sqm sqm sqm sqm €5.68 €6.09 YTD-2025 YTD-202
Slide 13: Supply chain professionalization and domestic consumption growth drive expansion
Supply chain professionalization and domestic consumption growth drive expansion in CTP’s portfolio Portfolio September 2026 Leases signed in the last 24 months GLA split by industry (%) GLA split by industry (%) 1 Professionalization of supply chains, following CEE countries joining Other Other Sch
Slide 14: 12% of portfolio leased to Asian clients producing in Europe for Europe
12% of portfolio leased to Asian clients producing in Europe for Europe GLA sqm of Asian tenants 1 900 000 1 700 000 1 500 000 ∽16% of leases signed in 1 300 000 last 24 months 1 100 000 900 000 700 000 500 000 300 000 2019 2020 2021 2022 2023 2024 2025 Q3-2026 14
Slide 15: Structural trends revealed through leasing activity across markets
Structural trends revealed through leasing activity across markets Nearshoring Rising disposable E-commerce growth High-tech / Clean-tech incomes Manufacturing in Europe for Europe Supply chain professionalisation E-retailers require innovative High-tech / Clean-tech companies in the business-smart
Slide 16: Cash flow driven by strong and diversified international client base
Cash flow driven by strong and diversified international client base Low operational and financial risk 35.8% 36.6% Top 50 as a % of Top 50 as a % of Sample of clients by sector Rental Income portfolio GLA 16
Slide 17: Organic growth driven by CTP's long-lasting tenant relations
Organic growth driven by CTP’s long-lasting tenant relations Occupancy1 (%) 95% 94% 94% 94% 93% 63% 93% 93% 93% Tenant retention New leases signed with existing clients FY-2020 FY-2021 FY-2022 FY-2023 FY-2024 FY-2025 Q3-2026 P’s market share in core markets2 4.8% 73% (%) 28.8% 28.4% 28.3% 27.8% 27.5
Slide 18: 561,000 sqm delivered at 10% YoC and 93% leased
561,000 sqm delivered at 10% YoC and 93% leased 561,000 93% Leased at delivery sqm delivered €23.4M 10.0% CTPark Krefeld, Germany Contracted rental income YoC 100% In existing parks or in new parks with >100k sqm potential CTPark Castel San Giovanni, Italy NB: Figures may not add up due to rounding
Slide 19: Development pipeline offers €130m of potential additional annual rent
Development pipeline offers €130m of potential additional annual rent 1,677,000 10.0% 80-90% sqm under construction Expected YoC Expected pre-let at delivery 93% In existing parks 4% 55% Pre-let 2026 deliveries €130M Potential rental income In new parks with >100k sqm potential (63% in Q3-2025) 165,
Slide 20: Development-led growth is embedded in CTP's DNA
Development-led growth is embedded in CTP’s DNA Standing portfolio & under construction Deliveries rising 18 million sqm - owned 2 million sqm 16 2.0 1.7 1 14 1.8 1 2.0 1 12 1.7 1 10 14.6 15.1 1.3 1.3 1 1.2 13.3 8 1.0 11.8 1.0 0 0.9 10.5 6 0.7 0.6 0.6 7.6 0 5.9 4 0 2020 2021 2022 2023 2024 2025 Q3-2
Slide 21: Financial results
Financial results 21
Slide 22: Financial highlights
Financial highlights In € million 9M-2026 9M-2025 restated1 % change Gross Rental Income 632.0 562.0 +12.5% Net Rental Income 619.0 549.0 +12.8% Net valuation result on investment property 56.0 774.4 -92.8% Profit for the period 320.1 862.8 -62.9% Company specific adjusted EPRA earnings 365.2 332.5
Slide 23: Gross Asset Value up 9.8% y-o-y
Gross Asset Value up 9.8% y-o-y Investment Property (IP), Investment Property under Development (IPuD) and Property, Plant & Equipment (PPE) (€ million) GAV: 8 460 11 486 13 633 15 980 18 483 19 414 334 280 Q4-2021 to Q3-2026 1 506 CAGR: 20% 1 474 248 1 680 1 368.1 1 292 234 1 077 920 169 1 360 763
Slide 24: Revaluation driven by new deliveries in 9M-2026
Revaluation driven by new deliveries in 9M-2026 Revaluation (YTD) (€ million) Standing assets including stabilization of deliveries IPuD Landbank 9M-2026 100 +215.3 -9.0 +56.0 50 0 -50 -100 -150 -150.3 -200 NB: Figures may not add up due to rounding 24
Slide 25: EPRA NTA up 4.0% y-o-y
EPRA NTA up 4.0% y-o-y EPRA NTA € per share +€0.54 +€0.90 €20.78 €19.98 -€0.63 -€0.01 Q3-2025 Company specific adjusted Revaluation Dividend Others Q3-2026 EPRA EPS NB: Figures may not add up due to rounding 25
Slide 26: Attractive double-digit total return track record
Attractive double-digit total return track record € per share EPRA NTA growth DPS paid 25 €0.71 €20.78 18% CAGR 20 -€0.61 €2.92 -€0.32 €2.73 -€0.57 Total Return: +16% 15 €2.59 -€0.48 €2.15 -€0.40 Total Return: +17% -€0.17 Total Return: +19% €8.32 10 €3.91 Total Return: +18% Total Return: +47% 5 0 31
Slide 27: Active liability management and limited risk of higher-for-longer environment
Active liability management and limited risk of higher-for-longer environment Bonds (EUR) 3.3% Conservative residual Unsecured loans (EUR) maturity of debt (€ million) Unsecured loans (JPY) Unsecured loans (USD) Secured loans (EUR) Average cost of debt 99.9% Hedged / fixed 4.5 yrs Average debt matur
Slide 28: Strong liquidity position and ample headroom to covenants
Strong liquidity position and ample headroom to covenants €2.1B Liquidity 9.5x Normalized Net Debt 30 September 2026 Covenant to EBITDA Secured Debt Test 13.0% 40% 72% 55% Unencumbered Asset Test 188.7% 125% Unsecured debt Bonds Interest Cover Ratio 2.5x 1.5x CREDIT RATINGS Leverage Ratio Test 46.6%
Slide 29: Total €2.2 billion of debt raised or refinanced in 2026
Total €2.2 billion of debt raised or refinanced in 2026 Green Bond and Tender Offer Asian Loan Facility January 2026 March 2026 → €500 million, 4.5-year at a coupon of 3.375% → Dual-tranche syndicated facility with a total of 15 Asian banks → MS +92bps, lowest since 2021 → JPY 22.5 billion (€122.5 m
Slide 30: Guidance
Guidance Guidance 2026 Progressive dividend Dividend policy1 Dividend per share €1.01-€1.03 70% - 80% €0.630 €0.590 €0.525 €0.450 2026 Company specific €0.350 €0.345 pay-out of Company specific adjusted EPRA EPS adjusted EPRA EPS +9-11% vs. 2025 2021 2022 2023 2024 2025 Interim 2026 1. Default divid
Slide 31: Long-term cash flow generation potential
Long-term cash flow generation potential Annualized rent in € million Medium to long-term Short-term >1,000 106 21 12 130 21 871 Annualized rent Completion of Filling up vacancy Indexation Reversion 2027 Future deliveries Annualized rent Reversion ≥2028 Full development 30 September 2026 existing pi
Slide 32: Investment case: Compounding cash flow and long-term value creation
Investment case: Compounding cash flow and long-term value creation → Structural growth: Long-term demand driven by supply chain professionalisation, manufacturing in Europe for Europe and rising domestic consumption in CEE. → Recurring cash flow: Growing rental income, contractual indexation and di
Slide 33: Appendices
Appendices _ SS ez era [om 2998 ie
Slide 34: Top 20 Parks 2.8m sqm
Top 20 Parks Since: 2015 Since: 2006 Since: 2004 Since: 2015 Since: 2006 The Top 20 parks represent the core of the CTPark Network. They are thriving business communities, with a dynamic mix of clients from a broad range of RO CZ CZ RO CZ industries. Bucharest West Bor Brno Bucharest Ostrava GLA: 98
Slide 35: Top 20 Parks 2.8m sqm
Top 20 Parks Since: 2024 Since: 2020 Since: 2007 Since: 2002 Since: Since:2011 2021 The Top 20 parks represent the core of the CTPark Network. They are thriving business communities, with a dynamic PL PL CZ CZ SK mix of clients from a broad range of industries. Iłowa Warsaw West Žatec Hranice Námest
Slide 36: Energy
Energy 161 154 → Cost per MWp: ~€750k – below market average thanks to CTP MWp Installed 138 acquiring in bulk and PV ready roof structures since 2020 100 → Income: 1-year lag between installation and income, i.e. MWp installed in 2025 drives income in 2026 38 6 2021 2022 2023 2024 2025 Q3-2026 Impo
Slide 37: EPRA EPS
EPRA EPS 9M-2025 YTD EPRA Earnings (€ million) 9M-2026 restated2 Earnings per IFRS income statement 320.1 862.8 Adjustments to calculate EPRA Earnings, exclude: Changes in value of investment properties, development properties held for investment and other interests 56.0 774.4 Profits or losses on d
Slide 38: Company Specific Adjusted EPRA Earnings P&L
Company Specific Adjusted EPRA Earnings P&L EPRA Earnings Company specific (€ million) IFRS Adjustments adjusted EPRA Earnings Rental Income 632.0 3.9 635.8 Service charge income 75.3 - 75.3 Property operating expenses -88.2 - -88.2 Net rental income 619.0 3.9 622.9 Net income / expenses from renewa
Slide 39: EPRA NAV
EPRA NAV EPRA Net Asset Value Metrics (€ million) EPRA NTA EPRA NRV EPRA NDV 30 September 2026 31 December 2025 30 September 2026 31 December 2025 30 September 2026 31 December 2025 IFRS Equity attributable to shareholders 8,781.1 8,462.2 8,781.1 8,462.2 8,781.1 8,462.2 Include / Exclude: i) Hybrid
Slide 40: EPRA NIY
EPRA NIY EPRA NIY and 'topped-up' NIY (€ million) 30 September 2026 31 December 2025 Investment property – wholly owned 19,080.9 18,203.1 Investment property – share of JVs/Funds Trading property (including share of JVs) Less: developments 1,680.3 1,368.1 Less: landbank 1,506.1 1,473.6 Completed pro
Slide 41: Cost of debt
Cost of debt Cost of Debt (€ million) 30 September 2026 31 December 2025 Net finance costs (IFRS) -288.9 -323.2 Capitalized interest1 -56.1 To be excluded: Profit in loss from fin assets and liabilities for trading -3.8 -1.0 Exchange rate differences -5.0 -22.4 Other financial income 0.2 0.1 Other f
Slide 42: Portfolio
Portfolio Standing IPuD Landbank Portfolio split by sqm (‘000) (15,147 sqm) (1,677 sqm) (33,356 sqm) Czech Republic 4,852 33% 558 33% 7,264 22% Romania 3,244 22% 258 15% 4,002 12% Germany 1,770 12% 114 7% 1,517 5% Hungary 1,400 9% 217 13% 2,109 6% Poland 1,200 8% 215 13% 2,568 8% Slovakia 1,101 7% 1
Slide 43: Financial calendar
Financial calendar Event: Date: FY-2026 results 25 February 2027 Annual General Meeting 28 April 2027 Q1-2027 results 30 April 2027 H1-2027 results 29 July 2027 43
Slide 44: Disclaimer
Disclaimer This announcement contains certain forward-looking statements with respect to the financial condition, results of operations and business of CTP. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “pla
Slide 45: Investor contacts
Maarten Otte, Chief Investment Officer Pavel Švihálek, Funding and IR Manager Mobile: +420 730 197 500 Mobile: +420 724 928 828 Email: [email protected] Email: [email protected] 45