Swiss Prime Site Ag · SIX:SPSN
Swiss Prime Site — Investor Day (October 2026)
54 slides from Swiss Prime Site's investor day presentation, Oct 26, 2026
Slide 1: Capital Markets Day
Capital Markets Day Zurich, 26 October 2026
Slide 2: Agenda
Agenda 01/ SPS at a glance 02/ Portfolio strategy and development update 03/ Asset Management 04/ Financial performance and Ambition 2030 05/ Data and AI demo 06/ Summary and trading update 07/ Q&A 08/ Appendix Capital Markets Day 2026 26 October 2026 2
Slide 3: 01/ SPS at a glance
Agenda 01/ SPS at a glance Marcel Kucher Capital Markets Day 2026 26 October 2026 3
Slide 4: SPS: One Integrated Platform. Two Complementary Pillars. All Real Estate
01/ SPS at a glance SPS: One Integrated Platform. Two Complementary Pillars. All Real Estate Real Estate Asset Management CHF 14.0 bn CHF 230.6 mn CHF 14.8 bn CHF 40.0 mn Investment Properties* Rental income* Assets under Management* Fee income* Commercial 5%+ Commercial Residential 25%+ Residential
Slide 5: Transformation complete: The leading Swiss pure-play real estate player
01/ SPS at a glance Transformation complete: The leading Swiss pure-play real estate player Operational businesses exited,Strategic focus onre-alignment real estate and growth of asset-light business Earnings profile 2019 Earnings profile 2026* Strategic portfolio simplification 2020 2023 2025 Renta
Slide 6: Resilient Swiss economy offers supportive backdrop for real estate
01/ SPS at a glance Resilient Swiss economy offers supportive backdrop for real estate… Employment growth Real GDP development Inflation Indexed to 2000 Indexed to 2000 Average consumer prices (%) 135 170 10% 6% 130 160 2% -2% 125 150 2000 2005 2010 2015 2020 2026E Switzerland Euro area 120 140 115
Slide 7: Continued demand for Swiss real estate assets
01/ SPS at a glance … resulting in continued demand for Swiss real estate assets Transactions Lettings Financing Fund Flows ⏤ Strong investor demand ⏤ “Flight to quality“ in office ⏤ Continued attractive rate ⏤ Stable institutional real supported by low rates and demand, with 10-year lease levels, s
Slide 8: Trading update 2026: Increased confidence to exceed guidance
01/ SPS at a glance Trading update 2026: Increased confidence to exceed guidance 2026 financial targets 2026 operational targets FFO I LTV Vacancy rate AuM Real Estate Asset Management 4.30 – 4.35 <39% ~3.5% +CHF 1.2 bn CHF per share Previously Confirmed Previously Previously 4.25-4.30 < 3.7% +CHF 1
Slide 9: Building on our strengths: Strategic priorities drive resilient growth
01/ SPS at a glance Building on our strengths: Strategic priorities drive resilient growth… Real Estate Asset Management 01 Continue focused capital upcycling to further enhance quality 01 Capture ~15% market share of pension fund real estate and resilience while capturing reversionary potential all
Slide 10: Ambition 2030
01/ SPS at a glance ... as the basis for our Ambition 2030 Ambition 2030* Financial targets Operating targets Group Real Estate Asset Management FFO I per share +15% CHF 130 mn+ fee income CHF 530 mn+ rental income (vs. 2026 guidance) (of which ~70% recurring) LTV < 39% Around 3% vacancy rate AuM CH
Slide 11: 02/ Portfolio strategy and development update
Agenda 02/ Portfolio strategy and development update Marcel Kucher Capital Markets Day 2026 26 October 2026 11
Slide 12: Portfolio strategy: Capital upcycling strengthens quality, resilience and growth
02/ Portfolio strategy and development update Portfolio strategy: Capital upcycling strengthens quality, resilience and growth Real Estate Key strengths Strategic priorities ⏤ Prime locations in Switzerland’s leading economic centres 01 Continue focused capital upcycling to further enhance quality ⏤
Slide 13: Office-led portfolio in prime locations with diversified use and Tier 1 tenants
02/ Portfolio strategy and development update Office-led portfolio in prime locations with diversified use and Tier 1 tenants Location split Portfolio split Tenant split Selected top tenants as at 30.06.2026 as at 30.06.2026 as at 30.06.2026 12% Northwestern 57% 3% 1% 100% Zurich and Central Switzer
Slide 14: Capital upcycling I: Portfolio quality and locations significantly enhanced
02/ Portfolio strategy and development update Capital upcycling I: Portfolio quality and locations significantly enhanced Portfolio matrix end-2022 Portfolio matrix end-June 2026 This slide contains the following visuals: scatterChart. Please refer to the notes on this slide for details good good Ob
Slide 15: Capital upcycling II: Clustering larger locations with increased proximity to CBD
02/ Portfolio strategy and development update Capital upcycling II: Clustering larger locations with increased proximity to CBD Portfolio proximity end-2020 Portfolio proximity end-June 2026 ― Disposals of small assets (<CHF 20 mn), unless part of larger cluster ― Portfolio’s proximity to nearest In
Slide 16: Capital upcycling III: Significant improvement across all dimensions
02/ Portfolio strategy and development update Capital upcycling III: Significant improvement across all dimensions L-f-l rental growth (real) & vacancy rate Average contracted rent/sqm* EPRA cost ratio (in %) (in CHF) (in %) Growth -4.4 pp +12.8% +26.2% 4.6% 1.6% 496 21.9% 3.5% 393 334 17.5% 296 0.8
Slide 17: Ongoing construction projects to deliver more than CHF 50 mn top line
02/ Portfolio strategy and development update Ongoing construction projects to deliver more than CHF 50 mn top line with 1.5% yield spread Investment Target rent Return on Letting Timeline Project (CHF mn)1 (CHF mn)2 Investment3 status 2026 2027 2028 2029 Fraumünsterpost 100% ~30 ~6 ~4.0% pre-let Pl
Slide 18: Upcoming developments – focus on refurbishments
02/ Portfolio strategy and development update Upcoming developments – focus on refurbishments Timeline Project Investment (CHF mn)1 Letting status 2026 2027 2028 2029 2030 2031 Stücki HO70 ~85% ~60-70 LoI Planning ongoing Staged completion from 2028 Maag 100% ~60 LoI with Universität Zürich Planning
Slide 19: Destination Jelmoli with significantly increased visibility
02/ Portfolio strategy and development update Destination Jelmoli with significantly increased visibility Concept and construction project − Premium mixed-use transformation of iconic Jelmoli building for top-tier office (45%), retail (40%) and leisure (15%) Latest developments / milestones − Founda
Slide 20: Managed offices: Capturing structural demand in the Swiss office market
02/ Portfolio strategy and development update Managed offices: Capturing structural demand in the Swiss office market Inspiration: London Inspiration: London Structural demand for managed offices Prime locations 582% Growth of Central London managed office space in 2020-2025 1 High-quality, central
Slide 21: FlexOffice acquisition captures structural growth in managed offices
02/ Portfolio strategy and development update FlexOffice acquisition captures structural growth in managed offices Snapshot Strategic rationale Key transaction terms Expected impact 2027E, in CHF mn ⏤ Leading provider of managed / ⏤ Captures structural growth in ⏤ Acquisition of remaining shares in
Slide 22: Health segment offers growth opportunities and attractive value
02/ Portfolio strategy and development update Health segment offers growth opportunities and attractive value Structural market opportunity Portfolio Snapshot as at 30.06.2026 Ambition 2030* ⏤ Increasing demand driven by current megatrends of longevity Healthcare and ageing population, as well as ri
Slide 23: Unlocking value and income potential beyond traditional office with health use
02/ Portfolio strategy and development update Unlocking value and income potential beyond traditional office with health use Case study: General practitioner clinic Example: Acquisition in Basel ⏤ Repurposes around 700m² ― Complementing existing cluster around Aeschenplatz of existing office space ―
Slide 24: 03/ Asset Management
Agenda 03/ Asset Management Anastasius Tschopp Capital Markets Day 2026 26 October 2026 24
Slide 25: SPSS: Largest Swiss independent asset manager with multiple growth pillars
03/ Asset Management SPSS: Largest Swiss independent asset manager with multiple growth pillars Asset Management Key strengths Strategic priorities ⏤ Largest Swiss independent real estate asset manager; 01 Capture ~15% market share of pension fund real estate CHF ~15.5 bn* AuM across 3 pillars alloc
Slide 26: Comprehensive real estate solutions for institutional investors
03/ Asset Management Comprehensive real estate solutions for institutional investors Fund Management +0.2 b n Asset Management +0.2 b n Real Estate Advisory +0.1 b n – Discretionary – vs 2025 – Fiduciary – vs 2025 – Bespoke – vs 2025 CHF 4.6 bn AuM CHF 7.5 bn AuM CHF 2.7 bn AuM Regulated collective
Slide 27: SPSS as leading independent real estate asset manager
03/ Asset Management SPSS as leading independent real estate asset manager Swiss real estate asset managers* SPSS market share AuM in CHF bn in % of transaction volume 70 Banks / Insurance Providers Peer 1 60 Independent Competitors SPSS 50 Peer 2 SPSS 40 Peer 3 30 SPSS Peer 4 20 14.8 Peer 5 Peer 6
Slide 28: Swiss pension fund system as the key driver of recurring income
03/ Asset Management Swiss pension fund system as the key driver of recurring income Cash Equities 4% 30% AuM 4.8 mn Other 0.9 mn 1.1 8% CHF Alternatives insured and 8% trillion retired employed direct and collective (pensioners) investments 23% Bonds 27% Real Estate allocation 1,300 + CHF 17 bn1 15
Slide 29: SPSS can grow along three complementary levers
03/ Asset Management SPSS can grow along three complementary levers 1 Organic growth in Swiss market 2 Leverage the outsourcing trend 3 New products and platform expansion ~CHF 1 bn > CHF 100 bn Swiss real estate held directly by pension funds1 Club deals Larger-scale additional AuM p.a. Co-investme
Slide 30: Ambition 2030: Organic growth of over CHF 1 bn p.a., CHF 23 bn+ AuM
03/ Asset Management Ambition 2030: Organic growth of over CHF 1 bn p.a., CHF 23 bn+ AuM Capital inflows¹ Assets under management in CHF mn (excl. leverage) in CHF bn CHF 1 bn+ per year CHF 23 bn +55% New Money 988 952 New mandates and 70 contributions in kind 431 14.8 14.3 13.3 512 50 918 8.4 ~800
Slide 31: 04/ Financial performance and Ambition 2030
Agenda 04/ Financial performance and Ambition 2030 Martina Moosmann Capital Markets Day 2026 26 October 2026 31
Slide 32: Resilient growth through distinct focus and common platform
04/ Financial performance and Ambition 2030 Resilient growth through distinct focus and common platform Real Estate Asset Management Capital upcycling Securing Launching new Delivering on Capture new Capture market and capturing discretionary products / developments demand trends growth reversion ma
Slide 33: Key financial and operating targets and Ambition 2030
04/ Financial performance and Ambition 2030 Key financial and operating targets and Ambition 2030 2026 Previous 2025A guidance ambition Ambition 20302 FFO 1 / ~10% growth 15%+ growth CHF 4.22 CHF4.30–4.35 Financial share (by 2028) vs. 2026 guidance targets Group ICR / LTV1 8.0x / 38.1% <39% n.a. >6.
Slide 34: Driving scale benefits on a broadly flat cost base
04/ Financial performance and Ambition 2030 Driving scale benefits on a broadly flat cost base Real Estate Asset Management Number of buildings EPRA cost ratio AuM (in CHF bn) Cost ratio (Segment) 54% 22% 20% 41% 42% 41% 18% 18% 17% 17% 34% 35% ~16%* ~33% 184 176 23.0+ 159 Capital 139 upcycling 14.3
Slide 35: Real Estate: Strategic priorities accelerate rental growth
04/ Financial performance and Ambition 2030 Real Estate: Strategic priorities accelerate rental growth Rental income bridge ⏤Continued strong l-f-l rental growth in CHF mn ⏤Development deliveries along defined pipeline 530+ ⏤Contribution from newly initiated ~15 products (FlexOffice, “health” tenant
Slide 36: Asset Management: Sustainable growth driven by recurring fee income
04/ Financial performance and ambition 2030 Asset Management: Sustainable growth driven by recurring fee income Fee income bridge in CHF mn ⏤Continued recurring growth from 130+ pension fund real estate allocations ~10 ⏤New discretionary mandates ~10 Non-recurring resulting from pension fund 30% out
Slide 37: Continuation of our prudent financing strategy
04/ Financial performance and Ambition 2030 Continuation of our prudent financing strategy Financing parameters in CHF mn 1H 2026 Ambition 2030 Consolidated financing structure ⏤CHF ~700 mn unused credit lines A3 Investment properties 14 005 of which unencumbered ⏤CHF 450 mn bond 85% stable maturiti
Slide 38: Delivering cash flow for an attractive dividend upside
04/ Financial performance and Ambition 2030 Delivering cash flow for an attractive dividend upside Funds From Operations I (FFO I) bridge (CHF per share) 15%+ ~2% Growth Potential ~5% ~8% Efficiency, Asset Scale & AI 4.30-4.35 Management Property Growth portfolio growth ~15% AM contribution 2026 Gui
Slide 39: 05/ Data and AI demo
Agenda 05/ Data and AI demo Marcel Kucher Capital Markets Day 2026 26 October 2026 39
Slide 40: Turning proprietary data into competitive advantage
05/ Data and AI demo Turning proprietary data into competitive advantage What we have How we activate it What it creates Unique data foundation One Lake and data products Competitive advantage Developed since 2024 ― CHF 28 bn+ AuM ― SPS One Lake as integrated, ― Live market insights cloud-native and
Slide 41: From early AI adoption to enterprise-wide impact
05/ Data and AI demo From early AI adoption to enterprise-wide impact Tenant Decision speed experience and quality Since August 2026 Investor value Data Since 2023 R Number of add ME 2. insights Exclusivity on O AI-Agents > DA our data T FTEs 1. CUS TA AI Business-led Dedicated PR T AI factory Y 3.
Slide 42: Case study I: From manual screening to AI-augmented decisions
05/ Data and AI demo Case study I: From manual screening to AI-augmented decisions Manual review Digital search AI-powered analysis Manual Searchable Automated 10x 40 h 24 h 4h More/faster ~300 physical ~10 GB of data Human validation documents to screen Better decisions Scalable across products Cap
Slide 43: Case study II: From bi-annual reporting to real-time engagement
05/ Data and AI demo Case study II: From bi-annual reporting to real-time engagement Static information Digital access Intelligent engagement Printed prospectuses Corporate websites AI-powered interactions Periodic reporting Investor portals Real-time insights Live insights Static information Search
Slide 44: 06/ Summary and trading update
Agenda 06/ Summary and trading update Marcel Kucher Capital Markets Day 2026 26 October 2026 44
Slide 45: Recap: Building on our strengths: Strategic priorities drive resilient growth
06/ Summary and trading update Recap: Building on our strengths: Strategic priorities drive resilient growth… Real Estate Asset Management 01 Continue focused capital upcycling to further enhance quality 01 Capture ~15% market share of pension fund real estate and resilience while capturing reversio
Slide 46: Ambition 2030
06/ Summary and trading update ... as the basis for our Ambition 2030 Ambition 2030* Financial targets Operating targets Group Real Estate Asset Management FFO I per share +15% CHF 130 mn+ fee income CHF 530 mn+ rental income (vs. 2026 guidance) (of which ~70% recurring) LTV < 39% Around 3% vacancy
Slide 47: 07/ Q&A
Agenda 07/ Q&A Marcel Kucher Capital Markets Day 2026 26 October 2026 47
Slide 48: Contact for investors and analysts
06/ Summary and trading update Contact for investors and analysts Contact for media Christian Hepp Patrick Friedli Head Corporate Finance, Treasury & Investor Relations Head Group Communications Business: +41 58 317 15 25 Business: +41 58 317 17 75 [email protected] [email protected]
Slide 49: 08/ Appendix
Agenda 08/ Appendix Capital Markets Day 2026 26 October 2026 49
Slide 50: Snapshot: Fraumünsterpost
08/ Appendix Snapshot: Fraumünsterpost Concept and construction project ⏤ Fraumünsterpost, a landmark property in central Zurich, has been undergoing extensive refurbishment since 2025, while Lidl continues to operate as ground-floor retail tenant during construction. ⏤ Value-enhancing refurbishment
Slide 51: Snapshot: YOND Campus
08/ Appendix Snapshot: YOND Campus Concept and construction project YOND.03 under construction ⏤ Modular campus comprising two new buildings and YOND.02 under construction one refurbished existing asset ⏤ Positioned for industrial and life-sciences users, complemented by commercial uses ⏤ 35,000 m²
Slide 52: Snapshot: Stücki HO70
08/ Appendix Snapshot: Stücki HO70 Concept and construction project ⏤ Stücki HO70 project transforms an existing property at Stücki Park Basel to meet future needs. ⏤ The redevelopment will create modern, future-ready spaces while enhancing the appeal of one of northwestern Switzerland’s most dynami
Slide 53: Snapshot: Maag
08/ Appendix Snapshot: Maag Concept and construction project ⏤ Creating the basis for a sustainable and broadly supported development of the Maag site as a cultural centre within Zurich’s industrial district ⏤ Transformation of the Maag halls into a year-round cultural destination with exhibition an
Slide 54: Disclaimer
Disclaimer Details published in this presentation are for information purposes only and should not form the basis for any investment decisions or recommendations to purchase Swiss Prime Site AG securities. The content of this presentation was diligently researched and compiled. However, Swiss Prime