Xior Student Housing

Earnings Release • Jan 16, 2025

PRESS RELEASE

Antwerp, Belgium | 16 January 2025 | 14:30 CET Regulated information Inside information

1. Expansion in Poland through acquisition of 2 prime student residences

Xior announces to strengthen its position in Poland through the planned acquisition of 2 prime and operational student residences in Wroclaw and Warsaw. This will allow Xior to expand its portfolio by approx. 900 beds at once, resulting in a total of approx. 3,600 beds in Poland.

City	#beds/units	Total investment value (approx.)	Initial gross yield (approx.)	Completion	Operational & let
Wroclaw	775/775	55 MEUR	11.1%	2022	Yes
Warsaw	117/117	12 MEUR	8.0%	2022	Yes
Total	892/892	67 MEUR	10.5%

The addition of these new residences in Poland as well as the addition of a fourth city (Wroclaw) strengthens Xior's presence in Poland, which is characterised by popular student cities with a large student population but also a large shortage of student residences, making Poland one of the most promising markets for further growth.

The proposed acquisitions will be financed by a capital increase via an exempt accelerated private placement to institutional investors within the authorised capital for an amount of up to 80 MEUR. See also the press release published in this context today.

2. Key figures FY 2024 and EPS/DPS guidance 2025

In the context of the capital increase through accelerated private placement to finance the expansion in Poland, Xior's statutory auditor has prepared a report regarding the accounting and financial data included in the special report of the Board of Directors acting on the intended capital increase. We refer to the available report of the auditor. In accordance with the applicable normative framework, in the course of its work, the statutory auditor carried out a review in accordance with ISRE 2410 ("limited review") of the historical accounting and financial data below included in the Board of Directors' report.

• 2024: EPRA earnings/share – group share (EPS) confirmed at 2.21 EUR/share, fully in line with guidance, stable year-on-year, even with an average of 10.7% additional shares in 2024 and execution of divestment plan
• 2024: dividend/share (DPS) confirmed at 1.768 EUR/share and will be submitted for approval at the Annual General Meeting on 15 May 2025

Including the Polish acquisitions announced today and the maximum amount of the intended capital increase, if successful, amounting to approx. 80 MEUR1 , the debt ratio and LTV fall below 50%, and Xior communicates its earnings and dividend expectations for 2025:

¹ Maximum 3,466,204 New Shares in accordance with report of the Board of Directors.

Antwerp, Belgium | 16 January 2025 |14:30 CET Regulated information Inside information

• Debt ratio improves to approx. 49.03% pro forma² and LTV improves to approx. 49.64% pro forma compared to 50.64% and 50.99% resp. as at 31 December 2024 (without acquisitions and intended capital increase)
• 2025 EPS/DPS guidance: minimum 2.21 EUR (group share) and 1.768 EUR3 respectively. Thanks to the increase in earnings as a result of the recent acquisitions and those announced today, the completion of more than 1,000 new student rooms in 2024 and a like-for-like rental growth of 6.52% as at Q4 2024 confirming the pricing power of student accommodation, Xior expects to realise at least a stable EPS compared to 2024. This also takes into account around 245 MEUR of realised divestments since 2023. This outlook is based on current knowledge and situation and in the context of the current volatile macroeconomic environment.
• 3. Further details of acquisitions Poland

Wroclaw

The residence in Wroclaw is a new, recently completed residence (Q2 2022) that is fully operational and has a high occupancy in line with the business plan thanks to its prime location near the University of Wroclaw. It is the most modern residence of its kind in Wroclaw and will be operated under the new 'Basecamp by Xior' brand with an optimal combination of comfortable rooms (775 beds, 775 rooms), a wide range of communal facilities and extensive community offerings. The total investment value is approx. 55 MEUR with an initial gross investment yield of approx. 11.1%. There is a nomination agreement with the military school for 230 rooms, running until the end of September 2025. The residence is acquired with a long-term ground lease until 2089 and has a BREEAM Very Good label. A non-notarial purchase agreement was concluded between Xior and the seller and will be executed after the expiry of the pre-emption right period.

The residence is very centrally located 2 km from the old city centre and a 10-minute walk from the University of Wroclaw, which has 21,000 students. Moreover, the residence also enjoys excellent transport links to most university faculties in the city, which can be reached within about 20 minutes by public transport, making the residence accessible to a large proportion of Wroclaw's approximately 105,000 students. The attractive tourist location also ensures smooth summer rentals during the summer season.

The addition of this new residence in Poland as well as the addition of a fourth city strengthen Xior's presence in Poland, which is characterised by popular student cities with a large student population but also a large shortage of student residences, making Poland one of the most promising markets for further growth.

The student market in Wroclaw

Wroclaw is one of Poland's leading academic centres, with more than 105,000 students enrolled at the city's 13 major educational institutions. As Poland's 4 th largest student city, Wroclaw offers a vibrant and dynamic student market, thanks in part to the presence of renowned universities such as the University of Wroclaw and the Wroclaw University of Technology. Excellent transport links and its central location make Wroclaw an attractive destination for both local and international students. Moreover, Wroclaw has a large shortage of student accommodation, with around 8,700 public student rooms and 2,067 private rooms, representing a private provision rate of only 2.0%.

² The pro forma debt ratio as at Q4 2024 was calculated including the positive impact of approx. -0.5% of the second earn-out payment under the Basecamp transaction and including the intended capital increase.

³ Including the planned capital increase for the payment of the second earn-out under the Basecamp transaction on or around 31 March 2025.

Antwerp, Belgium | 16 January 2025 |14:30 CET Regulated information Inside information

Warsaw

This Warsaw acquisition includes an already operational residence, located at a very convenient location in Poland's largest student city and the second largest student city in Europe with a total student population of 240,000 students.

This operational residence has a total investment value of approx. 12 MEUR and initial gross yield of approx. 8.0% and is acquired in full ownership with a fixed annual conversion fee for conversion from long-term ground lease to full ownership (17,000 EUR/year until 2042 included in the yield calculation). A binding Head of Terms was concluded between Xior and the seller with the expectation of a final sale agreement and delivery in late January/early February.

The brand new and high-quality residence (completed in Q4 2022) has 117 units for one or two residents and has high occupancy in line with the business plan. The residence is in a very good location 200 metres from the tram station with easy access to the city centre, the Central Business District and easily accessible to around 70,000 students from Warsaw University and Warsaw's Medical University, among others.

Xior already has a presence in Warsaw, with a brand new residence scheduled for completion in September 2025. The addition of this new location provides an efficiency advantage, giving a kick-start to Xior's presence in Warsaw. The current supply of modern student accommodation in Warsaw comprises only 1,900 beds, making the private provision rate less than 1%.

New funding raised and renewals

In Q4 2025, 2 smaller loans totalling 20 MEUR mature and will only be repaid at maturity and not extended earlier to avoid relatively high costs.

The following loans maturing in Q1 2026 have already been extended to date: BNP: The 25 MEUR loan maturing as of Q1 2026 was extended to Q4 2028. ABN AMRO Bank N.V.: The loan of 60 MEUR maturing as of Q1 2026 was extended until Q2 2028. In addition, BNP granted an additional loan of 25 MEUR until Q4 2029 and ING has given an additional loan of 20 MEUR until Q1 2028 (3+1years).

For more information, please contact:

Xior Student Housing NV Frankrijklei 64-68 2000 Antwerp, Belgium www.xior.be

Christian Teunissen, CEO Frederik Snauwaert, CFO info@xior.be T +32 3 257 04 89

Xior Investor Relations Sandra Aznar IR & ESG Director ir@xior.be T +32 3 257 04 89

PRESS RELEASE

Antwerp, Belgium | 16 January 2025 |14:30 CET Regulated information Inside information

About Xior Student Housing

Xior Student Housing NV is the first Belgian public regulated real estate company (RREC) specialising in the student housing segment in Belgium, the Netherlands, Spain, Portugal, Germany, Poland, Denmark and Sweden. Within this property segment, Xior Student Housing offers a variety of accommodation, ranging from rooms with shared facilities to en-suite rooms and fully equipped studios. Since 2007, as owner-operator, Xior Student Housing has built high-quality, reliable student accommodation for students looking for the ideal place to study, live and relax. A place with that little bit extra, where every student immediately feels at home.

Xior Student Housing has been accredited as a public RREC under Belgian law since 24 November 2015. Xior Student Housing's shares have been listed on Euronext Brussels (XIOR) since 11 December 2015. On 30 September 2024, Xior Student Housing held a property portfolio worth approximately EUR 3.3 billion. More information is available at www.xior.be.

Xior Student Housing NV, a Public RREC under Belgian law (BE-REIT) Frankrijklei 64-68, 2000 Antwerp, Belgium BE 0547.972.794 (Antwerp Register of Legal Entities, Antwerp Division)

Disclaimer

This press release contains forward-looking information, projections, convictions, opinions and estimates produced by Xior in relation to the expected future performance of Xior and of the market in which it operates ('forward-looking statements'). By nature, forward-looking statements involve inherent risks, uncertainties and assumptions, both general and specific, that appear justified at the time at which they are made but which may or may not turn out to be accurate, and there is a risk that the forward-looking statements will not be realised. Some events are difficult to predict and may depend on factors outside of Xior's control. In addition, the forward-looking statements are only valid on the date of this press release. Statements in this press release relating to past trends or activities may not be interpreted as an indication that such trends or activities will persist in future. Neither Xior nor its representatives, officers or advisers can guarantee that the parameters upon which the forward-looking statements are based are free of errors, nor can they indicate, guarantee or predict whether the expected results set out in such a forward-looking statement will ultimately be achieved. Actual profits, the financial situation and Xior's performance or results may therefore differ substantially from the information projected or implied in forward-looking statements. Xior expressly does not accept any obligations or guarantees as to public updates or reviews of forward-looking statements unless required to do so by law. This press release has been prepared in Dutch and has been translated into English and French. In case of discrepancies between the different versions of this press release, the Dutch version will prevail.