Annual General Meeting

11 June 2024

Strategy & Results review

Evert Jan van Garderen

Il Castello, Italy

Environmental, social and governance

Recognitions

AEX® ESG Index

3

ESG update

24% reduction in carbon emissions during 2023

15 out of 24 shopping centres have on-site solar panels, collectively generating over 3,985 MWh electricity in 2023 (+14%)

Carbon emissions (Scope 1 and 2) 24% reduction in emissions in 2023

Climate change risk assessments performed for all our centres

75% of ECP shopping centres achieved zero waste to landfill goal

A 38% decrease in waste to landfill in 2023

Green lease policy with retailers

1,000 lease agreements include Group Green lease clauses:

41% in Belgium, 64% in France, 52% in Italy,

51% in Sweden

Electric vehicle chargers in our shopping centres

  • Belgium - 8 chargers
  • France - 46 chargers across 6 shopping centres
  • Italy - 39 chargers across all 8 centres (additional 155 in Q2 2024)
  • Sweden - 68 chargers with an additional 58 in 2024

Gas removal

31% overall decrease in gas consumption in 2023

BREEAM In-Use certification in progress All assets are certified or in the process of

re-certification - 95% certified Excellent or Very Good

Photo: Carosello's new panels will provide around 44% of the energy needs of the common areas.

4

ESG update

Customer Engagement

  • Over 13,000 face-to-face interviews across 14 centres
  • Average score of 8.3 (above target of 7.5)

Retailer partnerships

  • Introduction of ECP Connect, the tenant app to enhance communications
  • Tenant satisfaction score of 7.0 in 2023 (on target)

Eurocommercial Retail Academy® Programme rolled out in eight additional centres in France and Italy in 2023

Community engagement

  • Our shopping centres form an integral part of their local communities providing them with services, amenities and support
  • Dedicated spaces for community meeting, health and wellbeing, charity, education and employment

Sustainable finance

  • Eurocommercial's Green Finance Framework underscores sustainability goals
  • Extension of three sustainability linked loans
  • Five green loans in place

Employee engagement & training

  • Employee engagement survey with a 95% response rate
  • Zero breaches against the code of conduct in 2023
  • Employee training - over 20 training hours per employee

Photo : Hallarnaloppet fun race at Hallarna

5

Digitalisation update

Visitor Pillar: Objective

Growing with customers:

how digital innovation and customer-centricity can boost Eurocommercial performance

1

2

3

4

5

6

CONNECT ALL VISITORS

VISITORS DATABASE

INSIGHTS INTO &

COMMUNICATE ESG

IMPROVE THE VISITORS'

VISITOR DATABASE AS

OFFLINE & ONLINE

GROWTH &

ANALYSE VISITOR

AND BUILD VISITOR

NEW OPPORTUNITY FOR

JOURNEY

TOUCHPOINTS

ENRICHMENT

BEHAVIOUR

COMMUNITIES

OUR RETAILERS

  • Connect all our online and offline touchpoints related to the visitor
  • Collect and store all relevant data related to the visitor in a structured way
  • Transform key touchpoints into lead generation tools and involve colleagues and retailers
  • Offer personalised experience in exchange of insights/interests
  • Being able to reward customers (loyal/sustainable visitors)
  • Focus on multiple strategies: customers vs. non-customers
  • Being able to have real-time insights into the behaviour of our visitors
  • Being able to distinguish between visitor declaration and behaviour
  • All channels will communicate our ESG efforts & impact to our visitors
  • Transform our offline & online touchpoints into channels for building visitor communities
  • Being able to predict our visitors' behaviour on all our touchpoints
  • Being able to predict our visitors' behaviour before, on and after events, based on AI models
  • Being able to use our visitor database for retailers' marketing & new store openings
  • Share our visitors' insights & predictions with our retailers

6

Solid operational performance in 2023

Retail sales

+5.8% vs 2022

Vacancy

1.5%

(same level as at 30 June

2023)

Rental growth

9.7%

(compared to 4.7% for 12 months to December 2022)

OCR

9.5%

(same as at 30 June 2023)

Renewals and relettings

2.8%

Rental uplift on

renewals and relettings 240 lease transactions

Rent collection

99%

7

Operational performance in Q1 2024

Retail salesRental growthRenewals and relettings

+3.7% vs 2023

3.6%

2.3%

renewals and relettings

Rental uplift on

244 lease transactions

Vacancy

OCR

Rent collection

1.8%

9.6%

98%

(same level as at Q1 2023)

(compared to 97% in Q1 2023)

8

Like-for-like rental growth

Like-for-like rental growth

Like-for-like rental growth

FY 2023

Q1 2024

Overall

9.7%

3.6%

Belgium

3.4%

3.8%

France

5.7%

6.7%

Italy

13.5%

1.8%

Sweden

9.9%

3.9%

I Gigli, Italy

Like-for-like rental growth is calculated based on 12-month data and excludes the impact of acquisitions, disposals and development projects to provide an accurate figure for comparison. It includes the impact of indexation, turnover rent, vacancies and leasing activity and excludes COVID-19 rent concessions.

9

Applicable national indices

Index 2023

Index 2024

Inflation rate 2023

Inflation rate 2024**

(forecast)

Belgium

4.3%

3.1%*

4.1%

2.9%

France

4.7%

6.1%

4.9%

2.4%

Italy

11.3%

0.6%

5.7%

1.9%

Sweden

10.9%

6.5%

8.5%

3.0%

*Indexation estimate **Source: Consensus Forecast

10

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Disclaimer

Eurocommercial Properties NV published this content on 11 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 June 2024 06:59:04 UTC.