Epic Suisse Ltd. · SIX:EPIC
Epic Suisse — FY2022 Earnings Presentation
38 slides from Epic Suisse's earnings presentation, Mar 27, 2023
Slide 1: Annual results 2022
Slide 2: Disclaimer
Disclaimer This publication contains specific forward-looking statements, e.g. statements including terms like "believe", "assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncerta
Slide 3: Agenda
Annual results 2022 Agenda * Market overview ¢ EPIC at aglance * Highlights * Key figures * Developments « ESG * Outlook DKA EPIC SUISSE
Slide 4: Switzerland macroeconomic outlook
Switzerland macroeconomic outlook Swiss Consumer Price Index (CPI) with forecast data As of December 2022 2.8% 2.4% 0.7% 0.5% 0.6% _ 2010 121314 M5 MGB M9 O21 122 '3F '24F Annual growth of real Swiss gross domestic product (GDP) with forecast data?) As of December 2022 3.9% 2.2% 2.0% 3.2% cox 2.5% 0
Slide 5: Agenda
Annual results 2022 Agenda ¢ Market overview * EPIC at a glance * Highlights * Key figures * Developments * ESG * Outlook DKA EPIC SUISSE
Slide 6: EPIC's 1.5 billion CHF portfolio by December 2022
EPIC’s 1.5 billion CHF portfolio by 31 December 2022 epic suisst Portfolio by region Portfolio by use Based on market value Based on market value 44% Office . 38% Retail Zurich Economic Area 14% Logistics/ Industrial 4% Developments 49% 14% Lake Geneva Region Other locations 25 324574 m? 4.2 % 8.2 y
Slide 7: Agenda
Annual results 2022 Agenda ¢ Market overview * EPIC at a glance * Highlights * Key figures * Developments * ESG * Outlook DKA EPIC SUISSE
Slide 8: Highlights of year 2022
Highlights of year 2022 BRN EPIC SUISSE IPO} 25 May 2022 March 2023-7
Slide 9: Agenda
Annual results 2022 Agenda ¢ Market overview ¢ EPIC at aglance * Highlights * Key figures * Developments « ESG * Outlook DKA EPIC SUISSE
Slide 10: Portfolio key figures
Portfolio key figures Portfolio Unit 31 Dec 2022 31 Dec 2021 Variation inf perigee sas) asters) = Total portfolio CHF ('000) 1501882 1465792 7 2.5% Investment properties in operation CHF ('000) 1447761 1433'982, 7 1.0% Investment properties under development/construction CHF ('000) 54121 31810 7 70.
Slide 11: Balanced portfolio
Balanced portfolio Breakdown of the portfolio as at 31 December 2022 based on market value” Developments (3 assets) Retail Notes: (1) In accordance with IFRS when taking into account the right of use of land (2) Mixed includes properties categorised as Offices, Retail and Logistics / Industrial The
Slide 12: Portfolio value increased by 2.5% compared to December 21
Portfolio value increased by 2.5% compared to 31 December 2021 DK EPIC SUISSE Portfolio market value evolution over 2022 in CHF million Portfolio - 31 Dec 2021 Capitalised costs 5.6 0.9 The portfolio growth was mainly driveny by * the continuous investment in the existing portfolio (CHF 412.2 millio
Slide 13: Net revaluation gain of CHF 0.9 million in 2022
in CHF ‘000 Net revaluation gain of CHF 0.9 million in 2022 Net revaluation results comparison 23'841 Offices 6'225 48'860 12'437 51003 6'357 1854 936 — mm = Logistics / Properties Total Industrial under development / construction ™2022 = 2021 + All properties were revalued by Wiest Partner, as inde
Slide 14: Reduced reported and adjusted vacancy rates for properties in operation
Reduced reported and adjusted vacancy rates for properties in operation Epic suisse Adjusted vacancy after excluding Biopdle Serine and Zanti Volketswil 2022 vacancy rates Reported Adjusted g Offices®) 7.3% 4% > TCHF 373 Retail’) g ready let tail 5.3% 2.9% s Logistics 2.5% 2.5% Properties in operati
Slide 15: Top tenants with above-average WAULT
Top 6 tenants with above-average WAULT of > 10 years Tenant grou; Net rental income Share WAULT group 2022 (CHF million) (% of total) (years) Coop group" 19% CHUV® 9% Migros group" GXO Logistics Switzerland S.A.G.L. 7% Hitachi Zosen Inova AG 6% Incyte Biosciences International S.a.r.I. 4% We 900000
Slide 16: Long leases with balanced expiry profile
Long leases with balanced expiry profile Expiry of investment properties’ lease contracts based on 31 Dec 2022 rent >50% expiring post December 2029 | 2023 «2024 2025 2026 2027 2028 2029 2030 2031 2032 longer Notes: (1) Rental income excludes rent free and exercise of any early break option(s) EPI O
Slide 17: 3.2% like-for-like rental growth for investment properties in operation
3.2% like-for-like rental growth for investment properties in operation Epic suisse Rent evolution on a like-for-like basis Sector L-f-I growth 2022 versus 2021 58.6 Offices 5.8% p48 a Retail 0.3% 5 Logistics 3.9% E Like-for-like (L-f-I) for properties in operation 3.2% o a 16) —— Total properties i
Slide 18: Balance sheet key figures
BRN Balance sheet key figures EPIC SUISSE Balance sheet Unit 31 Dec 2022 31 Dec 2021 Variation Total assets CHF ('000) 1'563'201 1'498'481 7 4.3% Equity (NAV) CHF ('000) 818'412 577865 * 41.6% Equity ratio % 52.4% 38.6% 7 35.8% Mortgage-secured bank loans CHF ('000) 595'966 765704 NT (22.2%) Weighte
Slide 19: NAV per share at CHF 79.23 by end of December 2022
NAV per share at CHF 79.23 by end of December 2022 EpIG Suisst IFRS NAV evolution over 2022 0.2 3 (69) (4.5) (4.2) 56.73) in CHF million IFRSNAV- 2022 results © GrossIPO Share-based _ Dividend Transaction IFRSNAV- Provisions Deferred tax IFRS NAV 31 Dec 2021 proceeds compensation distribution costs
Slide 20: Spread maturity bank debt profile
77% already renewed Spread maturity bank debt profile Bank debt by type as at 31 December 2022 Unhedged Fixed (hedged) CHF 116m CHF 252m Bank debt CHF 596m Variable CHF 344m Variable che saam Hedged (swaps) CHF 228m Bank loan maturity profile as at 31 December 2022 over the years Maturing debtin % o
Slide 21: Profit or loss key figures
Profit or loss key figures Results Unit 2022 2021 Variation Rental income from real estate properties CHF (000) 61'480 58'623 7 4.9% Net operating income (NOI) CHF ('000) 56'401 54'869 7 2.8% Net gain (loss) from revaluation of properties CHF ('000) 936 48'860 N\ (98.1%) EBITDA (incl. revaluation of
Slide 22: 2022 net rental income to EBITDA (before revaluations)
me 2022 net rental income to EBITDA (before revaluations) EPIC SUISSE 80'000 70'000 in CHF '000 Rentalincome Otherincome Totalincome Direct expenses Net operating from real estate properties Notes: (1) SG&A = personnel + operating + administrative expenses related to properties income (NOI) 60'000 5
Slide 23: Rental income, NOI and EBITDA (excl. revaluations & IPO costs)
Rental income, NOI and EBITDA (excl. revaluations & IPO costs) PIG Suisse in 2022 higher or equal than in 2021 Net rental income Net operating income EBITDA EBITDA (excl. revaluations) (excl. revaluations & NRI yield % one-off IPO costs) Margin % Margin % excl. IPO costs-----~- in CHF million 2022 2
Slide 24: Funds from operations (FFO)
Funds from operations (FFO) Bridge from EBITDA excl. revaluations to FFO and adjusted FFO” Yield based on IFRS NAV (%) FFO per share® (CHF) in CHF million Adjusted FFO “? One-off IPO costs Financial Cash tax FFO. expenses, EBITDA before revaluations Notes: (1) | Adjusted FFO excludes the one-off IPO
Slide 25: Information per share key figures
Information per share key figures Information per share Unit 31 Dec 2022 31 Dec 2021 Variation Number of shares outstanding at period end # ('000) 10'330 7'500 7 37.7% Net asset value (NAV) per share CHF 79.23 77.05 7 2.8% Share price on SIX Swiss Exchange at period end CHF 63.50 n/a n/a n/a Dividen
Slide 26: Agenda
Annual results 2022 Agenda + Market overview ¢ EPIC at aglance * Highlights * Key figures * Developments + ESG * Outlook DKA EPIC SUISSE
Slide 27: Progress on ongoing development projects
. . DOXA Progress on ongoing development projects EPIC SUISSE Current status updates and impressions Campus Leman (phase 2) Roggwil land reserve * Building permit for building C has been received + Anchor tenant has committed already for 2 floors (out of 6) * Construction expected to begin Ht 2023 *
Slide 28: Agenda
Annual results 2022 Agenda ¢ Market overview * EPIC at a glance * Highlights * Key figures * Developments + ESG * Outlook DKA EPIC SUISSE
Slide 29: Environmental, Social and Governance (ESG)
Sustainability Impact relevance More moderate relevance Higher relevance BRN Environmental, Social and Governance (ESG) EPIC SUISSE Materiality matrix 2022 Climate protection and climate risk management Innovative and sustainable real estate Sustainability Report ° First Sustainability Report as par
Slide 30: Environmental, Social and Governance (ESG)
. . OSX Environmental, Social and Governance (ESG) EPIC SUISSE Emission intensity 2022 based on modelling EPIC Group’s portfolio Unit Total Environmental . For the 2022 Annual Report, modelling Total GHG Emissions (modelled for 2022) tCO,e 5316 approach applying the GHG protocol standards to estimat
Slide 31: Agenda
Annual results 2022 Agenda ¢ Market overview * EPIC at a glance * Highlights * Key figures * Developments * ESG * Outlook DKA EPIC SUISSE
Slide 32: Outlook for 2023
Outlook for 2023 EPID SUISSE + With the ongoing war in Ukraine, the global geopolitical and economic situation remains fragile and the interest rate environment less favourable + Nevertheless, Swiss real estate market is expected to show resilience + Assuming no material adverse impact on our operat
Slide 33: Appendix
DKA EPIC SUISSE Appendix
Slide 34: EPIC share price compared with SXI Real Estate & SPI indexes
BRN EPIC SUISSE EPIC share price compared with SXI Real Estate & SPI indexes" 120.00 93.38 94.92 100.00 87.80 80.00 IPO of EPIC Suisse AG 2° 2 So © paseqa: 40.00 20.00 @202/Z1/62 @208/e1/ee @202/2l/9b 2200/el/eh 2202/21/90 @20U/tL/O0F CC0C/LL/0e tc0e/lL/8h @200/LL/vb 6020/11/80 2Z02Z/tL/ZO 2202/01/2
Slide 35: Glossary of Alternative Performance Measures
Glossary of Alternative Performance Measures Adjusted vacancy rate (properties in operation) Reported vacancy rate (properties in operation) adjusted for absorption and strategic vacancy in certain properties in operation (for 31 December 2022 and 31 December 2021, Zanti Volketswil and Biopéle Serin
Slide 36: Glossary of Alternative Performance Measures
Glossary of Alternative Performance Measures FFO yield (IFRS) FFO divided by IFRS NAV as of the respective date Net debt Total debt net of cash and cash equivalents Net loan to value(LTV) ratio Ratio of net debt to the market value of total real estate properties including the right-of-use of the la
Slide 37: Glossary of Alternative Performance Measures
Glossary of Alternative Performance Measures Reported vacancy rate (properties in operation) Vacancy of the properties in operation divided by target rental income of the properties in operation Return on equity (excl. revaluation effects) Profit after tax before other comprehensive income excluding
Slide 38: EPIC Suisse AG
EPIC Suisse AG Raum fiir Erfolg. Seefeldstrasse 5a 8008 Zirich +41 44 388 8100 [email protected]