Inmobiliaria Colonial Socimi S.A.

Investor Presentation • Jul 28, 2022

De conformidad con lo establecido en el artículo 227 del texto refundido de la Ley del Mercado de Valores aprobado por el Real Decreto Legislativo 4/2015, de 23 de octubre, Inmobiliaria Colonial, SOCIMI, S.A. ("Colonial" o la "Sociedad") comunica la siguiente

OTRA INFORMACIÓN RELEVANTE

Como continuación a la comunicación de información relevante publicada con fecha 22 de julio de 2022 con número de registro 17500, Colonial remite documentación de soporte a la presentación a analistas e inversores relativa a los resultados correspondientes al primer semestre de 2022, que se celebrará hoy jueves día 28 de julio de 2022 a las 18:30 horas (CET) a través de un webcast.

Los datos de conexión a la conferencia se detallan a continuación:

Desde España: +34911140101 + Pin Code 72000602# Desde Francia: +33170710159 + Pin Code: 72000602# Desde Holanda: +31207095119 + Pin Code 72000602# Desde el Reino Unido: +442071943759 + Pin Code 72000602# Desde USA: +1 6467224916 + Pin Code 72000602#

La presentación online será visible a través del siguiente link:

https://onlinexperiences.com/Launch/QReg/ShowUUID=2A7A98EF-1D77-4F20-9A52-4 96D20C767B7

Adicionalmente, la presentación de resultados estará disponible en la página web de la Sociedad.

En Madrid, a 28 de julio de 2022.

First Half Results 2022

July 28th, 2022

By attending this presentation and receiving this document, you are agreeing to be bound by the following limitations. Any failure to comply with these restrictions may constitute a violation of applicable securities laws and/or may result in civil, administrative or criminal liabilities.

This document is strictly confidential and is being furnished to you solely for your information. It may not be reproduced, or redistributed to any other person, and it may not be published, in whole or in part, for any purpose.

The information contained in this presentation ("Presentation") has been prepared by Inmobiliaria Colonial, SOCIMI S.A. (the "Company") and has not been independently verified and will not be updated. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein and nothing in this Presentation is, or shall be relied upon as, a promise or representation. None of the Company nor any of its employees, officers, directors, advisers, representatives, agents or affiliates shall have any liability whatsoever (in negligence or otherwise, whether direct or indirect, in contract, tort or otherwise) for any loss howsoever arising from any use of this Presentation or its contents or otherwise arising in connection with this Presentation.

This Presentation is for information purposes only and is incomplete without reference to, and should be viewed solely in conjunction with, the oral briefing provided by the Company and the Company's publicly available information. The information and opinions in this presentation are provided as at the date hereof and subject to change without notice. It is not the intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company's financial or trading position or prospects.

This Presentation does not constitute investment, legal, accounting, regulatory, taxation or other advice and does not take into account your investment objectives or legal, accounting, regulatory, taxation or financial situation or particular needs. You are solely responsible for forming your own opinions and conclusions on such matters and for making your own independent assessment of the Company. You are solely responsible for seeking independent professional advice in relation to the Company. No responsibility or liability is accepted by any person for any of the information or for any action taken by you or any of your officers, employees, agents or associates on the basis of such information.

This Presentation contains financial information regarding the businesses and assets of the Company. Such financial information may not have been audited, reviewed or verified by any independent accounting firm. The inclusion of such financial information in this Presentation or any related presentation should not be regarded as a representation or warranty by the Company, its affiliates, advisors or representatives or any other person as to the accuracy or completeness of such information's portrayal of the financial condition or results of operations by the Company and should not be relied upon when making an investment decision. . Certain financial and statistical information in this document has been subject to rounding off adjustments. Accordingly, the sum of certain data may not conform to the expressed total.

Certain statements in this Presentation are forward-looking. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions which could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These include, among other factors, changing economic, business or other market conditions, changing political conditions and the prospects for growth anticipated by the Company's management. These and other factors could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in this Presentation and based upon past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The market and industry data and forecasts included in this Presentation were obtained from internal surveys, estimates, experts and studies, where appropriate as well as external market research, publicly available information and industry publications. The Company, it affiliates, directors, officers, advisors and employees have not independently verified the accuracy of any such market and industry data and forecasts and make no representations or warranties in relation thereto. Such data and forecasts are included herein for information purposes only. Accordingly, undue reliance should not be placed on any of the industry or market data contained in this Presentation.

NEITHER THIS DOCUMENT NOR ANY OF THE INFORMATION CONTAINED HEREIN CONSTITUTES AN OFFER OF PURCHASE, SALE OR EXCHANGE, NOR A REQUEST FOR AN OFFER OF PURCHASE, SALE OR EXCHANGE OF SECURITIES, OR ANY ADVICE OR RECOMMENDATION WITH RESPECT TO SUCH SECURITIES.

• Highlights 01
• Financial Performance Double digit profit growth 02_
• Strong delivery on operations 03
• Drivers for future performance 04
• Conclusion & Outlook 05

PRESENTING MANAGEMENT TEAM

Pere Viñolas Chief Executive Officer

Carmina Ganyet Corporate Managing Director

Carlos Krohmer Chief Corporate Development Officer

Delivery of profitable Growth on the back of polarization

COLONIAL – THE FULL BENEFIT OF POLARIZATION

• 1) CBD & Madrid Inside M-30 & Paris 7eme and 15eme
• 2) CBD includes 22@ in Barcelona
• 3) Portfolio in operation

Highlights Strong Profit Growth Driven by Strong Operations 01

02 Financial Performance - Double digit profit growth

Delivery of profitable Growth

• 02 Financial Performance - Double digit profit growth Strong growth in all metrics

• Net Group Profit increase of +120% YoY

• Solid increase in Recurring Net Profit: +35% YoY

• Double digit EPS growth of +27%

PROFIT FULLY TOP-LINE DRIVEN

Financial Performance - Double digit profit growth +9.5% Gross Rental Income YoY Increase 02

Revenue Growth excluding impact of disposals³ of +13.2%

• +8.0% Revenue increase due to rental growth in Core Portfolio & Acquisitions

• +5.2% Revenue increase through delivery on projects & renovation program

GROSS RENTAL INCOME - €m

(1) Core Portfolio Like for Like (including €1.6m of Like for Like rental growth from renovation program) – Indexation analysis in slide 29

(2) Excluding €1,6m of Like for Like rental growth from renovation program

(3) Includes €2,5m impact from asset disposals & other non like-for-like impacts

+6% like for like in Gross Rental Income on the back of polarization 02 Financial Performance - Double digit profit growth

• Group Gross Rental Income Like for Like growth of +6%

• Paris & Barcelona with outstanding like for like growth

• Like for like growth through balanced mix of price & volume

GROSS RENTAL INCOME - €m

• Net Rental Income growth of +7% (+6% like for like) 02 Financial Performance - Double digit profit growth

• Net Rental Income growth +7% driven by Paris Portfolio

• Outstanding Net Rental Income like for like growth +6%

• Paris and Barcelona with outstanding for like increase

Net Rental Income variance

NRI= Net Rental Income

1 Like-for-like variance calculation based on EPRA best practice methodology

• Flight to quality through selected disposals 02 Financial Performance - Double digit profit growth

• €59m of secondary assets divested in 1H2022

• +11% premium on 12/21 GAV

• +7% GAV growth in 6 months (+11% YoY) 02 Financial Performance - Double digit profit growth

• +8% YoY like for like growth (+4% in 6 months)

• Strong YoY like for like growth of Madrid +9% (+5% in 6 months)

• Paris with solid +8% YoY like for like growth (+4% in 6 months)

14

Solid Capital Structure with strong Hedging Profile 02 Financial Performance - Double digit profit growth

• LTV at healthy 36.9%, at low-end of guidance

• Liquidity of 2.6 €bn with €0.5bn in cash

• Strong hedging policy securing future interest rates

• Solid profitability with enhanced quality 02 Financial Performance - Double digit profit growth

• Group Net Profit of €355m, +120% YoY

• Recurring Earnings of €76m, +35% YoY

• EPRA EPS of €14.13/share; +27% YoY)

PROFIT & LOSS ACCOUNT

1H 22	1H 21
170	155
134	122
(38)	(43)
(7)	(7)
(13)	(16)
76	57
315	147
(1)	(27)
0	(4)
(35)	(11)

Recurring Earnings - €m	76	57
Nosh (mm)	539.6	508.1
EPS recurring - Cts€/share	14.13	11.14

Strong NTA growth through Prime Positioning & Alpha 02 Financial Performance - Double digit profit growth

• Total Shareholder Return of +12% YoY (+6% in 6 months)

• Epra NTA of €12.49/share; +10% YoY (+4% in 6 months)

• NTA growth on the back of Prime Positioning & Alpha Value Creation

17

Superior performance on the back of polarization for high quality product

Strong delivery in operations Office Markets with strong support for Grade A in CBD 03

• Tenant for Grade A product concentrates more than 70% of total demand

• Take-up in all markets widely above previous year

• Strong investment market for scarce Grade A in the City Center

Source: Cushman & Wakefield; CBRE; BNP

03 Strong delivery in operations

Superior performance on the back of high-quality prime product

(3) Maturity until first potential exit

(4) Financial vacancy calculated according to EPRA methodology – Office Portfolio

03 Strong delivery in operations Superior performance on the back of high quality product

• Colonial with strong letting activity, +75% on previous year (+64% in economic terms)

• Letting activity focused on CBD assets with high Energy Certificates

• Solid mix between renewals and new lets

LETTING ACTIVITY REMAINS SOLID IN 1Q 2022

2) CBD includes 22@ in Barcelona

3) Portfolio in operation

Strong delivery in operations 03

Benefitting from polarization - Setting the benchmark in Prime

Strong delivery in operations 03

Vacancy at healthy 4.0%: availability of top-quality product

4.0% of available high-quality space with solid letting prospects

• 1.5% renovation program assets in Madrid, Barcelona & Paris

• 2.1% Grade A CBD premises in Barcelona & Madrid

EPRA VACANCY - Offices

24

Rental growth remains solid 03 Strong delivery in operations

• Q2 Solid ERV growth of +6% driven by Madrid & Paris

• +8% release spread YTD (+9% in Madrid & +8% Paris)

SOLID INCREASE IN RENTAL PRICES

(1) Signed rents vs 12/21 ERV (new lettings & renewals)

(2) Signed rents vs previous contracts (renewals)

(3) Excluding the renewal of a tenant a building in the 22@, with a market rent review, extending the maturity of the contract

Prime Positioning & Alpha driving future performance

04 Drivers for future performance

Performance on the back of Prime Positioning & Alpha

Sustained Strong Delivery on NTA & EPS

Pricing Power

Projects & Renovations on track

Securing future cash flow

04 1 Sustained Strong Delivery on NTA & EPS Drivers for future performance

PRIME

&

ALPHA

> €15m Indexation Paris, Madrid & Barcelona Captured Indexation YTD Pending Indexation Full Year 22 Impact 1H 22 Full Year 2022 €4m >€8m > €2m ~ €11m Impact of 2022 Indexation in 2023 2022 Profit Impact¹ 2023 Profit Impact¹ PRICING POWER - INDEXATION PRICING POWER - CAPTURING MAXIMUM RENTS Outperfoming the market 2022 YTD PARIS MADRID BARCELONA +3% +9% +6% Release Spread Q2³ > 100% of contracts indexed² > Indexation fully Passedthrough 55% Secured Indexation 1H 22 45% To come 2022

1. Signed rents vs previous contracts (renewals)

2. Signed rents vs. market rents at 31/12/2021 (ERV 12/21)

3. Excluding the renewal of a tenant in a 22@ building, with a market rent review, extending the maturity of the contract

4. With exception of two clients in the public administration

BIOME: Best quality product with low carbon footprint

Office space 100% pre-let

• Two leases signed with La Banque Postale and SFIL for all the office space

• Rent: over €670/sqm

• Lease term: 10 years

• Effective 2 Nov. 2022

04 3– Projects on track Drivers for future performance

• 7 of the 9 assets of the project pipeline already have high pre-let levels

• €52m of annualized rents secured in more than 77,000 sqm

• Rental prices signed at the high end: yield on cost above 6% confirmed

PROJECT PIPELINE

² Annualized topped-Up passing GRI as of 06/22

• 7 of the 9 assets of the project pipeline already have high pre-let levels

• Signed rents well above market ERVs

• Contracts signed with AAA tenants

• Significant progress in letting up the renovation program

• Passing rents have increased by +105% in 6 months

• Reversion of €35m annualized GRI secured/passing as of 06/22

SIGNIFICANT GRI REVERSION WITH VALUE CREATION POTENTIAL

• Renovation program almost fully let

• Signed rents well above market ERVs

• Contracts signed with AAA tenants

4– Future Cash Flow on the back of an increasing revenue base 04 Drivers for future performance

> €41m additional annualized¹ rents since 12/21 > +12% increase of revenue base¹ (net of disposals) Topped-Up GRI 06/22 €m¹ Topped-Up GRI 06/22 €m¹

INCREASE ANNUALIZED GRI¹ UP TO €385m

344 387 385 (2) Passing GRI 12/21 Passing GRI 06/22 pre disposals Disposals Passing GRI 06/22 +12%

MORE THAN €400m RENTAL BASE¹ SECURED YTD

• Strong Pre-Lets

• Pricing Power & Indexation

Superior growth & returns through prime positioning

05 Conclusion & Outlook Colonial well positioned

STRONG DELIVERY ON VALUE & CASH FLOW

• Total Shareholder Return (NTA based) +6% in 6 months

• GAV growth of + 4% like for like in 6 months

• Recurring EPS +27% YoY

• Strong operations securing additional cash flow

COLONIAL WELL POSITIONED TO PLAY THE CYCLE

Colonial platform with strong internal growth drivers in place

• 1. Pricing Power: full Indexation pass through & max rental prices
• 1. Projects & Renovations on track
• 1. Secured future cash flow through pre-lets 3

OUTLOOK & GUIDANCE

2

1

• Recurring EPS 2022: €28-29Cts per share

• Prime CBD assets outperforming the market

Appendices

Q&A

Investment markets for prime product remain active

• Paris CBD an attractive target for International Investors

• Pricing above appraisals for Core product in CBD

Investment markets for prime product remain active

• Barcelona with solid investment activity– specially in the 22@ district

• Investor appetite with increased momentum for Prime in Madrid

	Goya 36 (1Q 2022)	CBD	€52m	4,500 m	€11,556/sqm
D RI D A M	Ancora 40 (1Q 2022)	CBD	€51	7,215 sqm	€7,069/sqm
	Alcalá 26 (4Q 2021)	CBD	€37m	5,343 m	€6,878/sqm
A N O L E C R A B	Step Up (2Q 2022)	22@	€35m	4,500 sqm	€7,777/sqm
	Sancho de Ávila 105 (2Q 2022)	22@	€18m	2,500 sqm	€7,200/sqm
	Antic de Valencia (2Q 2022)	22@	€65m	10,010 sqm	€6,493/sqm

Indexation & Rental Growth APPENDICES

• Colonial portfolio fully capturing positive indexation impact in cash flow

• Indexation on Spanish portfolio already secured for more than 35% of the contracts

• Prime Grade A Positioning provides additional rental upside

Rental Price levels remain solid APPENDICES

RELEASE SPREAD¹ GROWTH ON SIGNED RENTS²

42

Project pipeline – GRI reversionary potential going forward

• More than €80m of additional rents to flow into the recurring P/L

• €52m of secured rents through solid pre-let performance

• Project pipeline delivery & pre-letting process on track

¹ Total Cost Finished Product= Acquisition Cost/Asset Value pre Project + total Capex to be invested

²Annualized topped-Up passing GRI as of 06/22

³ Pending Capex as of 06/2022

Pending Capex3 - €m
2022	69-74
2023	79-84
2024	39-44
Total Pending Capex	187-202
Thereof Spain	148-156
Thereof France	39-46

Project pipeline – significant value creation potential going forward

• €2.5bn of value expected

• Base for significant future NTA growth

• 2022 Delivery on track

Project City			% Group Delivery	GLA (sqm)	1 Total Cost €m	Yield on Cost		Value creation potential -	€bn
1 2	Diagonal 525 83 Marceau	Barcelona CBD Paris CBD	100% 98%	Delivered Delivered	5,706 9,600	41 154	≈ 5% ≈ 6%						2.4 – 2.6
3	Velazquez 86D	Madrid CBD	100%	3Q 22	16,318	116	> 6%			2.0	2.1
4	Miguel Angel 23	Madrid CBD	100%	3Q 22	8,204	66	> 5%		1.7					Future Value
5	Biome	Paris City Center	98%	2H 22	24,500	283	≈ 5%	1.3						Creation
6	Sagasta 27	Madrid CBD	100%	2H 22	4,896	23	6%
7	Plaza Europa 34	Barcelona	50%	1H 23	14,306	42	≈ 7%
8	Mendez Alvaro Campus	Madrid CBD South	100%	1H 24	89,871	323	7- 8%
9	Prime Louvre SaintHonoré Commercial	Paris CBD	98%	2024	16,000	215	7- 8%	1 Total cost	Current value 12/20	2 Current value 12/21	3 Current value 06/22	4	5 Stabilized Value
	CURRENT PIPELINE				189,401	1,264	6- 7%

Significant value creation potential

▪ 2 Projects already delivered

Delivery well balanced

▪ 4 Projects in 2022 ▪ 3 Projects in 2023/24

1 Total Cost Finished Product= Acquisition Cost/Asset Value pre Project + total Capex to be invested

• 2 GAV 12/20 + Pending Capex as of 12/20
• 3 GAV 12/21 + Pending Capex as of 12/21
• 4 GAV 06/22 + Pending Capex as of 06/22
• 5 Stabilized Rent capitalized at estimated exit yield

Renovation Program with positive momentum

• Significant progress in letting up the renovation program

• Passing rents have increased by €27m since the beginning of the program

• Reversion of €35m annualized GRI secured/passing as of 06/22

Program reversion almost fully secured - €m 8 17 35 06/21 12/21 06/22 Passing GRI - €m² Paris Madrid Barcelona Asset City Delivery Pre-let GLA (sqm) ¹ 103 Grenelle Paris 17ème ✓ 100% 5,631 ² Charles de Gaulle Paris Neuilly ✓ 100% 6,742 ³ Washington Plaza Paris CBD ✓ 100% 10,611 ⁴ Cezanne SH Paris CBD ✓ 90% 9,951 ⁵ Cedro Madrid North ✓ 79% 14,437 ⁶ Ortega & Gasset 100 Madrid CBD ✓ 57% 7,792 ⁷ Torre Marenostrum Barcelona 22@ ✓34% (1st phase) 22,394 8 Diagonal 530 Barcelona CBD Q3 2022 40% 12,876 ⁹ Parc Glories II Barcelona 22@ ²⁰²⁴ Project analysis 17,860 TOTAL RENOVATION PROGRAM 108,294 Secured YTD ^{1 2 2} 10 35 47 P&L Passing Full potential

RENOVATION PROGRAM SIGNIFICANT GRI REVERSION WITH VALUE CREATION POTENTIAL

1H 22

Annualised

Annualised

1. 06/22 YTD GRI (6 months cumulative)

2. Annualized topped-up passing GRI as of 06/22

+4.4x

To come

Vacancy at very healthy levels in every segment

• Office portfolio vacancy stable at a healthy 4% level (2.7% excluding Torre Marenostrum & Ortega y Gasset)

• 1.5% renovation program assets in Madrid, Barcelona & Paris

• Outstanding Paris at 0.3% vacancy in the office portfolio

EPRA¹ VACANCY

CONTRACT PORTFOLIO 2022 MATURITIES – DELIVERY YTD ON TRACK

APPENDICES A solid capital structure

• Long-term financing profile with extended debt maturities

• LTV of 36.9% with a liquidity of €2,557m

• A solid financial structure with competitive financing costs

Extension of Debt Maturities

Maturity profile of debt facilities - €bn

A Solid Financial Structure Net Debt LTV Drawn Facilities Unutilized Facilities Total Facilities Cash Liquidity 31/12/2021 €4,716m 35.8% €0m €2,140m €2,140m €219m €2,359m Debt Maturity Group Non-Mortgage debt Cost of Debt Group 5.2 years 98% 1.40%¹ 30/06/2022 €5,228m 36.9% €0m €2,090m €2,090m €467m €2,557m 4.6 years 99% 1.28%¹

Interest Rate Risk Under Control & No Refinancing Risk

• Strong financial position with few maturities in the next 3 years

• Current liquidity covers 2 times future financing needs

85% Fixed Interest rate c. 5 years Avg. debt maturity +100% Green Bonds Estimated Cost of debt² 1.5% 1.8% 1.9% 22% matures before 2024 78% matures after 2024 Colonial Group - Debt Maturity Profile As Of June 22 Colonial Group – Coverage ratio considering future financing needs³ Bonds France Bonds Spain 187 2.625 290 1.698 550 226 120 2022 2023 2024 >2024 Other Debt ECPs Bonds France Bonds Spain

¹€200m pre-hedgings already applied in 2Q2022

²Interest rates curves and future spreads, as of 4th of July 2022

³Coverage ratio as Sources / Uses

⁴Revolving Credit facility

STRONG FINANCIAL POSITION CURRENT LIQUIDITY ENSURING FUTURE FINANCING

DECARBONIZATION PLAN ON TRACK

Science Based Target initiative (SBTi) - Colonial's Business Plan verified & approved by SBTi

• Carbon footprint reduction by 52% vs 2018 baseline year

• Acceleration of path towards net zero emissions

• Objective of carbon neutrality in 2030 (previous objective 2050)

© Colonial