Galil Capital RE Spain SA · BME:SCGCS

Galil Capital RE Spain SA — Galil Capital RE Spain SOCIMI — Investor Presentation (May 2026)

50 slides from Galil Capital RE Spain SA's investor presentation, May 7, 2026

  1. Slide 1: Otra información relevante - Galil Capital RE Spain

    GALIL CAPITAL RE SPAIN, SOCIMI, S.A. 7 de mayo de 2026 En virtud de lo previsto en el artículo 17 del Reglamento (UE) nº 596/2014 sobre abuso de mercado y en el artículo 227 de la Ley 6/2023, de 17 de marzo, de los Mercados de Valores y de los Servicios de Inversión, y disposiciones concordantes, as

  2. Slide 2: Other Relevant Information - Galil Capital RE Spain

    GALIL CAPITAL RE SPAIN, SOCIMI, S.A. 7 May 2026 Pursuant to the provisions of article 17 of Regulation (EU) no. 596/2014 on market abuse and article 227 of Law 6/2023 of 17 March on Securities Markets and Investment Services, and related provisions, as well as in Circular 3/2023 of the BME Scaleup s

  3. Slide 3: Galil Capital RE Spain

    Galil Capital RE Spain SOCIMI, S.A. www.galilcapital.es Jerry Mandel +972-52-5499999 7 May 2026 [email protected] 1

  4. Slide 4: Disclaimer - Future Looking Statement

    Disclaimer - Future Looking Statement Certain information set forth in this presentation contains “forward-looking information”, including “future oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements)

  5. Slide 5: Table of Contents

    Table of Contents 1. FY2025 Highlights 2. Overview of GCRE Spain 3. Industrial Property – Potential Exit & Ownership Restructuring 4. Regulatory Environment 5. GCRE Sold Properties 6. GCRE Debt Position as of 31 DEC 2025 7. Rent Income Analysis 8. RICs Valuation of Portfolio as of 31 DEC 2025 9. Fin

  6. Slide 6: FY2025 Highlights

    FY2025 Highlights 4

  7. Slide 7: FY2025 Highlights

    FY2025 Highlights Rent Income Consolidated Rent Income decreased 2.1% in 2025 vs. 2024 due to the sale of 13 units and 12 units in FY2025 and FY2024, respectively. Residential Rent Income decreased 9.6% in FY2025 vs. FY2024 due to sale of units mentioned above. Residential Rent Income of 5 residenti

  8. Slide 8: FY2025 Highlights – Cont'd

    FY2025 Highlights – Cont’d Cash Distributions In FY2025 GCRE made 2 cash distributions: • Cash dividend of EUR907,300 for FY2024 (EUR0.3347/share, 3.16% of WASPP**) on 27 June 2025 • Return of invested capital of EUR2,019,328 (EUR0.745/ share, 7.03% of WASPP** on 10 December 2025 GCRE expects to pay

  9. Slide 9: FY2025 Highlights – Cont'd

    FY2025 Highlights – Cont’d Market Conditions • Low volume of sale transactions of entire residential buildings in Barcelona • Significant difference of individual residential units sale prices between Madrid and Barcelona (Madrid much higher) – Barcelona prices affected by regulatory environment • H

  10. Slide 10: Overview of GCRE Spain

    Galil Capital Overview of GCRE Spain

  11. Slide 11: Galil Capital RE Spain SOCIMI, S.A. (GCRE)

    Galil Capital RE Spain SOCIMI, S.A. (“GCRE”) Overview of GCRE Residential Portfolio: • GCRE Owns 7 residential buildings (6 in Barcelona and 1 in Madrid) • 5 buildings in Barcelona owned 100%. (Started selling individual units in 2 buildings). • 1 building in Barcelona and 1 building in Madrid – par

  12. Slide 12: Overview of GCRE (Cont'd) - Industrial Property

    Galil Capital RE Spain SOCIMI, S.A. (“GCRE”) Overview of GCRE (Cont’d) Industrial Property  GCRE, via a wholly owned subsidiary, GALIL RE NAQUERA 1 S.L.U. (“GALIL NAQUERA”), owns an industrial complex in Valencia.  The industrial property is comprised of 5 separate modules with an aggregate constr

  13. Slide 13: Overview of Portfolio

    Overview of Portfolio BARCELONA PROPERTIES NAQUERA INDUSTRIAL PROPERTY * As of 5 May 2026 11

  14. Slide 14: GCRE Structure

    GCRE Structure* Galil Capital RE Spain SOCIMI (GCRE) 100% owned Galil RE Naquera 1 PPL** S.L.U. (Galil Investor Naquera) 50% participation 1 2 3 4 5 1 6 7 7 Residential Properties, 1 Industrial Property, owned via SPV. owned directly by GCRE PPL Investor benefits from 50% participation * As of 5 May

  15. Slide 15: GCRE Residential Portfolio

    Galil Capital RE Spain SOCIMI, S.A. (“GCRE”) * GALIL CAPITAL RE SPAIN SOCIMI, S.A. - RESIDENTIAL PORTFOLIO As of 28 April 2026 Owned Properties # of Date Built Area (M2) Number of Number of Mortgage Properties Purchased - Catastro Viviendas Locales (1) Barcelona Unio 28 (100% owned, DIVISION HORIZON

  16. Slide 16: Industrial Property – Potential Exit & Ownership Restructuring

    Industrial Property – Potential Exit & Ownership Restructuring 14

  17. Slide 17: Galil RE Naquera 1, S.L. (Galil Naquera)

    Galil RE Naquera 1, S.L. (“Galil Naquera”) GCRE, via a wholly owned subsidiary, GALIL RE NAQUERA 1 S.L.U. (“GALIL NAQUERA”), owns an industrial property in Naquera (Valencia). Total purchase price paid – EUR9,000,000 for the property + closing costs. As of 31 December 2025, the Property had an appra

  18. Slide 18: Naquera Division Horizontal - Overview

    Naquera Division Horizontal - Overview Modulo 1 (extension) – approx. 3,200 M2, will be constructed as expansion of existing module and expected to be leased to existing tenant of modulo 1. Modulo 6 (new) – approx. 5,350 M2, will be constructed as an independent logistic facility and expected to be

  19. Slide 19: Naquera Division Horizontal – Overview (Cont'd)

    Naquera Division Horizontal – Overview (Cont’d) Entity 1 Modulo 1 leased + Modulo 1 ampliacion Entity 2 Modulos 2,3,4 leased Entity 3 Modulo 5 leased Entity 4 Vacant Land (Modulo 6 ampliacion ) Entity 1 area comun Entity 2 Entity 4 Entity 3 17

  20. Slide 20: Estimated Theoretical Value Based on RICs Valuation

    Estimated Theoretical Value Based on RICs Valuation RICs Valuation as of 31 DEC 2025 € 18,040,000 Mortgage Loan Balance as of 31 DEC 2025 € 3,875,154 NAV Property € 14,164,846 Provision for PPL (50%) € 7,082,423 GCRE’ ownership implied value € 7,082,423 GCRE invested amount (April 2021) € 2,450,000

  21. Slide 21: Potential Sale of Industrial Property - Summary

    Potential Sale of Industrial Property - Summary GALIL NAQUERA is considering the possibility of selling its Industrial property in Naquera (Valencia) and doing an ownership restructuring. Sale of individual properties to related parties at sale prices based on RICS Valuation as of 31 December 2025 -

  22. Slide 22: Benefits of Potential Ownership Restructuring of Galil Naquera

    Benefits of Potential Ownership Restructuring of GALIL NAQUERA Galil Naquera Benefits:  Sale its 4 individual properties at an aggregate price of EUR18,040,000  Realize significant capital gain on sale (vs. purchase price of approx. EUR9,400,000 including closing costs)  Realize ROI of over 180%

  23. Slide 23: Potential Sale of Industrial Property

    Potential Sale of Industrial Property* Proposed Sale Price Potential Buyer* Transaction 1 Entity 1 Galil Property 01 SLU, company related to Jerry Entity 4 € 5,756,000 Mandel Transaction 2 Entity 2 Entity 3 € 12,285,000 Entity related to PPL Holder Aggregate Sale Price € 18,041,000 Potential Sale Tr

  24. Slide 24: Regulatory Environment

    6 Galil Capital Regulatory Environment

  25. Slide 25: Regulatory Environment in Catalunya (Barcelona)

    Regulatory Environment in Catalunya (Barcelona)* Decreto Ley 5/2025  Effective from 27 March 2025 in Catalunya. Limited impact on most  ITP (purchase tax of residential properties went up from 10%- Home Buyers (apartments’ 11% to 10%-13%. Unchanged for residential properties sold for value up to E

  26. Slide 26: Regulatory Environment in Catalunya – Rent Control

    Regulatory Environment in Catalunya (Barcelona)* Rent Control – in place in Catalunya Temporada Regulations On December 31, 2025, Law 11/2025 of December 29, on housing and urban planning measures, was published in the Official Gazette of the Government of Catalonia (DOGC). It had been approved on D

  27. Slide 27: Regulatory Environment in Spain (Barcelona)

    Regulatory Environment in Spain (Barcelona)* Royal Decree-Law 8/2026 On April 28, 2026, the Spanish Congress did not approve Royal Decree-Law 8/2026. This law had introduced (i) an extraordinary extension of up to two years for certain residential lease contracts and (ii) a temporary 2% cap on annua

  28. Slide 28: GCRE Sold Properties

    Galil Capital GCRE Sold Properties

  29. Slide 29: GCRE Sold Properties

    GCRE Sold Properties 2026 YTD* Sold Properties  In 2026 YTD, GCRE has signed ARRAS contracts to sell 5 individual units (2 in Barcelona and 3 in Madrid) for an aggregate sale price of EUR1,440,000. The aggregate sale prices of these units is higher that the aggregate RIC valuation of 31 December 20

  30. Slide 30: GCRE Sold Properties

    GCRE Sold Properties FY2024 Sold Properties  In FY2024, GCRE sold 12 individual units (11 units in Granada 12, Madrid, and 1 unit in Corsega 689, Barcelona) for an aggregate sale price of EUR2,982,000.  Book Value of 2024 sold properties – EUR 1,956,399  Gross Capital Gain from 2024 sold properti

  31. Slide 31: GCRE Sold Properties – Cont'd

    GCRE Sold Properties – Cont’d FY2022 Sold Properties:  On 20 December 2022, GCRE completed the sale of 3 buildings (2 buildings in Barcelona and 1 building in Madrid) for aggregate sale price of EUR 18,296,600:  Breton de Los Herreros 14-16, Barcelona  Aulestia I Pijoan 4-6, Barcelona  Bejar 23,

  32. Slide 32: GCRE Sold Properties – Cont'd

    GCRE Sold Properties – Cont’d Year Aggregate Aggregate BV Sale Price Sale Price Aggregate Sale Price Sale Price over RICS over RICS Sale Price over BV over BV (%) RICs Value Value Value (%) FY2022 € 21,531,250 € 14,195,232 € 7,336,018 51.7% € 19,661,823 € 1,869,427 9.5% FY2023 € 1,871,000 € 1,320,93

  33. Slide 33: Sale Price Differences Between Madrid and Barcelona

    GCRE Sold Properties Significant difference in sale prices between Madrid and Barcelona, due to Catalunya Regulations*  Based on actual sales of GCRE in FY2025  Comparing sale price per M2 of individual residential units  Units with similar characteristics (location, size, age of building, etc..)

  34. Slide 34: GCRE Debt Position as of December 2025

    GCRE Debt Position as of 31 December 2025 32

  35. Slide 35: GCRE Debt Position - Update

    GCRE Debt Position - Update  GCRE fully repaid the mortgages underlying the 2022-2025 sold properties.  In June 2025, GCRE fully repaid the second mortgage it had on Granada 12, in the amount of EUR265,422.  In June 2025, GCRE signed agreement with lender to reduce interest rate on mortgage on Gr

  36. Slide 36: GCRE Debt Position as of December 2025

    GCRE Debt Position As of 31 December 2025 Financial Maturity Date Original Principal Contractual Building Interest Rate Principal Amount as of (as of 31 OCT Institution Amount 31-DEC-2025 2025) Bankinter 06-Mar-37 € 2,926,000 € 505,651 2.95% Granada 12 Abanca 28-Feb-35 € 1,900,000 € 1,231,534 Euribo

  37. Slide 37: Rent Income Analysis

    6 Galil Capital Rent Income Analysis

  38. Slide 38: FY2025 Rent Income

    12% FY2025 Rent Income Owned Properties Date FY2024 Rent FY2025 Rent FY2025/ Comments Purchased Income Income FY2024 Barcelona Unio 28 (100%) 05-May-16 € 156,266 € 176,112 12.7% 2 evictions completed in 2024, 2 furnished units leased for TEMPORADA (1 from June 2024, 2nd from January 2025) Corsega 68

  39. Slide 39: Financial Statements Review

    Financial Statements Review 37

  40. Slide 40: 31 December 2025 Audited Consolidated Financial Statements (IFRS)

    31 December 2025 Audited Consolidated Financial Statements (IFRS) We publish our consolidated H1 and annual consolidated accounts in accordance to IFRS guidelines. In addition, we also publish our individual annual accounts in accordance to Spanish GAAP which are mandatory by Spain Tax Authorities.

  41. Slide 41: December 2025 Audited Consolidated Financial Statements (IFRS)

    31 December 2025 Audited Consolidated Financial Statements (IFRS) English Translation for Convenience Purposes FMV of Properties is based on RICs Valuations from 31 DEC 2025 39

  42. Slide 42: Balance Sheet – Assets – IFRS

    31 December 2025 Consolidated Financial Statements (IFRS) English Translation for Convenience Purposes Balance Sheet – Assets – IFRS (Expressed in Euros) Assets Notes 31/12/2025 31/12/2024 Non- current Property, plant and equipment 33,630 38,005 Investment Investment property 4y5 46,622,613 45,149,6

  43. Slide 43: Balance Sheet - Equity and Liabilities – IFRS

    31 December 2025 Consolidated Financial Statements (IFRS) English Translation for Convenience Purposes Balance Sheet - Equity and Liabilities – IFRS (Expressed in Euros) Equity and liabilities Notes 31/12/2025 31/12/2024 Equity 8 Share capital 5,066,588 5,066,588 Equity Capital Share premium 13,703

  44. Slide 44: Income Statement – IFRS

    31 December 2025 Consolidated Financial Statements (IFRS) English Translation for Convenience Purposes Income Statement – IFRS (Expressed in Euros) Continuing activities Notes 31/12/2025 31/12/2024 Rent Income Gross rental income 4 y 10 2,302,765 2,350,936 (-2.1%) Other income 466 3,581 Change in fa

  45. Slide 45: NAV (IFRS) per Share Analysis

    NAV (IFRS) per Share Analysis 43

  46. Slide 46: NAV (IFRS) per Share Analysis

    NAV (IFRS) per Share Analysis Equity Capital Share Issue Date Number of Shares Share Price Raised Comments (Pre-Listing - approx 39% in 28-Sep-17 2,079,986 € 10.00 € 20,799,860 FY2016 and 27% in FY2017) 14-Feb-19 658,710 € 12.00 € 7,904,520 Public Rights Offering (34%) Totals (other than average sha

  47. Slide 47: NAV (IFRS) per Share Analysis

    NAV (IFRS) per Share Analysis 31-Dec-19 31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23 31-Dec-24 31-Dec-25 NAV (IFRS) € 42,534,288 € 39,168,463 € 44,439,688 € 45,334,846 € 33,825,019 € 33,999,255 € 34,599,697 Number of Shares Outstanding 2,738,696 2,738,696 2,738,696 2,738,696 2,738,696 2,738,696 2,738,696

  48. Slide 48: Cash Distributions to Shareholders

    Cash Distributions to Shareholders 46

  49. Slide 49: Cash Distributions to Shareholders

    Cash Distributions to Shareholders Cash Distributions * WASPP € 10.5900 Date Total Cash Cash / % of Dividend Issued Reserva Total Cash Distributed Share WASPP Premium Voluntaria Distribution 02-Mar-23 € 2,005,719 € 0.74000 6.99% € 0.74000 € - € - € 2,005,719 23-Mar-23 € 1,303,717 € 0.48100 4.54% € -

  50. Slide 50: Thank You

    Galil Capital Thank You

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