Inmobiliaria Colonial Socimi S.A.

Investor Presentation • Jul 11, 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

Colonial comunica que en el día de hoy, 11 de julio de 2022, a partir de las 9:30 horas (CET), se celebrará en París su "Capital Markets Day" para analistas e inversores institucionales. A estos efectos, se adjunta a continuación la documentación soporte de la presentación que tendrá lugar

11 de julio de 2022

Colonial Corporate Strategy

Pere Viñolas Chief Executive Officer

Capital Markets Day 2022

By attending this presentation and receiving this document (the "Presentation"), 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 Presentation 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 It may not be reproduced, or redistributed to any other person, and it may not be published, in whole or in part, for any purpose.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 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 or completeness of the information or opinions contained herein. None of the Company nor any of its affiliates, directors, officers, employees, agents, advisors or representatives 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 informational 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.

In this regard, this Presentation does not constitute investment, financial, 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, directors, officers, employees, agents, 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. Some of this information may have been rounded off or provided by approximation, and therefore some amounts may not correspond to the total reflected.

Certain information and statements contained in this Presentation may be deemed to be forecasts or estimates, forward-looking statements or projections, targets or opinions. Likewise, certain data used for the preparation of this Presentation have been obtained from external sources, internal surveys, estimates, experts and studies. The Company, it affiliates, directors, officers, employees, agents, advisors or representatives or any other person have not independently verified the accuracy of all this information and therefore no representations or warranties in relation thereto are given as to its accuracy, completeness or comprehensiveness. 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. Some words such as "anticipate", "expect", "estimate" and similar, may mean that you are facing a forward-looking statement. Forecasts and estimates, forward-looking statements and projections, targets and opinions are based on assumptions and involve certain known and unknown risks and uncertainties that could cause them to be unrealistic or inaccurate. Factors such as changes in business, market and sector conditions, government policies, interest rates, general and economic conditions in Spain, other European Union countries and the United States of America, for example, could cause forecasts or estimates, forward-looking statements or projections, targets or opinions to vary substantially. These and other factors could adversely affect the outcome and financial effects of the plans and events described herein. Forecasts or estimates, forward-looking statements or projections, targets or opinions made based on past trends do not guarantee that the same trends will continue or that such activities will be maintained in the future. Therefore, given the uncertainty inherent in forward-looking statements, they cannot be considered as a prediction of actual results. All forecasts and other statements contained herein have been made on the basis of the existing and known situation at the date of this Presentation and there is no commitment to update, revise or correct them as a result of new information, future events or for any other cause.

NEITHER THIS PRESENTATION NOR ANY OF THE INFORMATION CONTAINED HEREIN CONSTITUTES AN INVESTMENT ADVICE OR RECOMMENDATION OR AN OFFER OF PURCHASE, SALE, SUSCRIPTION OR EXCHANGE, NOR A REQUEST FOR AN OFFER OF PURCHASE, SALE OR EXCHANGE OF SECURITIES OR ANY OTHER FINANCIAL INSTRUMENTS.

• 2020 / 21 Transition years to reload growth
• Effective implementation of capital recycling strategy
• Acceleration of ESG with strong commitment

Priorities since 2020 CMD…

✓ Highest Corporate Rating in Spanish Real Estate (BBB+) ✓ Strong hedging profile through Active Management ✓ More than €2.5bn of liquidity ✓ LTV at levels of 36% with Grade Collateral ✓ Increased exposure to Prime CBD Paris of more than €1bn ✓ Disposals of Non-Core with double digit premiums on GAV ✓ Solid GAV like for like performance ✓ More than 80% of GAV in CBD ✓ Global leadership on decarbonization: A score on CDP ✓ Carbon neutrality target accelerated to 2030 ✓ High Occupancy Levels ✓ Successful Pre-lets on projects ✓ Sustained rental growth & healthy release spreads ✓ Double-digit EPS growth in 2022

… are being successfully delivered

• ✓ 95% of Operating Portfolio with Leed & Breeam Certificates
• ✓ 100% Green Bonds First Mover on Ibex35

CORPORATE STRATEGY

Leadership on Polarization

Prime Portfolio to unlock value & cash flow

Conclusions III

I

II

I

Efficiency – Experience – Environment Leadership on Polarization

I

COLONIAL PARIS VACANCY VS PARIS CBD VACANCY PRIME ERV GROWTH - COLONIAL VS MARKET AVERAGE

COLONIAL MADRID VACANCY VS MADRID CBD VACANCY RELEASE SPREAD - COLONIAL VS AVERAGE PEERS

(1) Source: CBRE

I

(2) Historical Vacancy of current portfolio

Superior Pricing Power – beating the market I Leadership on Polarization

+8%

+9%

+1%

+6%

Avg. growth +9%

Colonial Group Divestment Through Last Cycle

Disposal with Double digit Premium On GAV

+16%

Leadership on Polarization

I

Colonial Portfolio Outperforming its peers in every market

(1) Peer analysis elaborated by Colonial based on public information

Leadership on Polarization

I

Colonial Portfolio Outperforming its peers in every market

¹ Peer analysis elaborated by Colonial based on public information

² Total Shareholder Return= NTA growth + dividends

Leadership on Polarization Strong Performance across cycles

I

¹ GRI LFL as of 1Q22

CORPORATE STRATEGY

Leadership on Polarization

Prime Portfolio to unlock value & cash flow

Conclusions III

I

II

1. Delivery of current Alpha

Project Pipeline and Renovation Program close to completion II Prime Portfolio to unlock value & cash flow

Full Capex Spent Pending

✓ ✓ 1.5 ºC Projects with significant pre-lets YTD

✓

✓

✓

✓ ✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓ ✓ 1.5 ºC

✓

✓

✓

✓

✓

✓ ✓ 1.5 ºC

✓

✓

✓ ✓ 1.5 ºC

✓ ✓ 1.5 ºC

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓ ✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓ ✓

✓

✓

✓

✓

✓

✓

✓ ✓

✓ ✓ 1.5 ºC

✓ ✓ 1.5 ºC

✓

✓ ✓ 1.5 ºC

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓ ✓

✓

✓

✓

✓

✓

✓

✓

✓

1.5 ºC

1.5 ºC

2 ºC

Well-bellow

1.5 ºC

1.5 ºC

1.5 ºC

✓

✓

✓

1.5 ºC / Wellbelow 2 ºC

✓

✓

Well-bellow 2 ºC

1.5 ºC

1.5 ºC

2 ºC

1.5 ºC

1.5 ºC

Well-bellow

1.5 ºC

1.5 ºC

Well-bellow

1.5 ºC

2 ºC

1.5 ºC

1.5 ºC

1.5 ºC

1.5 ºC

✓ ✓

✓

✓

✓

✓

✓

✓

✓

✓ 1.5 ºC

✓

✓

1.5 ºC

2 ºC

Well-bellow

✓

1.5 ºC

✓

✓

✓

✓

✓

✓

✓

Well-bellow

1.5 ºC

2 ºC

✓

✓

1.5 ºC

1.5 ºC

✓

✓

1.5 ºC

✓

1.5 ºC

1.5 ºC

✓

✓

1.5 ºC

✓

✓ ✓ 1.5 ºC

✓ ✓ 1.5 ºC

✓

✓ ✓ 1.5 ºC

✓ ✓ 1.5 ºC

✓ ✓ 1.5 ºC

✓ ✓ 1.5 ºC

✓ ✓ 1.5 ºC

✓ ✓ 1.5 ºC

✓ ✓ 1.5 ºC

✓ ✓ 1.5 ºC

1.5 ºC

1.5 ºC

2 ºC

Well-bellow

1.5 ºC

1.5 ºC

1.5 ºC

Well-bellow

Well-bellow 2 ºC

Well-bellow 2 ºC

1.5 ºC

2 ºC

1.5 ºC

1.5 ºC

1.5 ºC

✓

✓

✓

✓

✓

✓

✓ 1.5 ºC

1.5 ºC

✓ ✓

2 ºC

Well-bellow

1.5 ºC

1.5 ºC

1.5 ºC

Well-bellow

✓

✓

✓

✓ 1.5 ºC

2 ºC

✓ ✓

1.5 ºC / Wellbelow 2 ºC

1.5 ºC / Wellbelow 2 ºC

1.5 ºC

1.5 ºC / Wellbelow 2 ºC

1.5 ºC

1.5 ºC

1.5 ºC

1.5 ºC

1.5 ºC / Wellbelow 2 ºC

1.5 ºC

1.5 ºC

✓

✓

✓

✓

✓

✓

✓

1.5 ºC

below 2 ºC

1.5 ºC

1.5 ºC

1.5 ºC

below 2 ºC

1.5 ºC

✓

✓

1.5 ºC

1.5 ºC

1.5 ºC

1.5 ºC

1.5 ºC

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓

✓ 1.5 ºC

1.5 ºC

2 ºC

Well-bellow

1.5 ºC

1.5 ºC

1.5 ºC

Well-bellow

1.5 ºC

2 ºC

1.5 ºC

1.5 ºC

1.5 ºC

1.5 ºC

Project Pipeline delivery beating expectations II Prime Portfolio to unlock value & cash flow

1

² Annualized topped-Up passing GRI

³ Total Cost Finished Product= Acquisition Cost/Asset Value pre Project + total Capex to be invested

⁴ GAV 12/21 + Pending Capex as of 12/21

⁵ Stabilized Rent capitalized at estimated exit yield

Renovation Program Maximizing Rents & Value II Prime Portfolio to unlock value & cash flow

1. Capturing the benefit of polarization

II Prime Portfolio to unlock value & cash flow Large scale office portfolio maximizing efficiency

55,215 sqm

31,607 sqm

2 Capturing the benefit of polarization

Large scale assets with strong pricing power

PARIS

Pasteur

Louvre Saint-Honoré

Biome

#Cloud

Édouard VII

Parc Glories

Cézanne Saint-Honoré

Large scale office portfolio maximizing efficiency II Prime Portfolio to unlock value & cash flow

2

2 Capturing the benefit of polarization

Rental Price Performance¹

	Barcelona	Madrid	Paris
Average Rents	24	26	685
Maximum Rents Signed	28	>37	>900

• 1. Attracting Best Clients
• 1. Capturing Maximum Rents
• 1. Full Indexation pass through
• 1. Maintaining High Occupancy level
• 1. Protecting Maximum Value & Cash Flows
• 1. Scarcity play in Rental & Investment Market

² Signed rents vs 12/2021 ERV (new lettings & renewals)

1. Ongoing flight to quality through mature secondary disposals

3 Ongoing flight to quality through mature secondary disposals

3

Disposals of non-core and secondary assets

Future disposals under analysis

CORPORATE STRATEGY

• Leadership on Polarization
• Prime Portfolio to unlock value & cash flow

Conclusions III

I

II

III Conclusions

The strongest office platform to play the cycle

Challenge Colonial's Response

• Delivery of Alpha: significant additional Cash Flow secured

• Strong Resilience of Prime Positioning/ Polarization

• Proven Portfolio Stability in previous cycles

• Total contract portfolio¹ with full indexation

• 100% indexation passed through YTD

• Strong Release Spreads & ERV growths

• Lettings at record rents in the middle of Covid

• Occupancy at 96% and well above peers

• Attracting Top Tier Clients in very good terms

• Superior Pricing Power in Rents & Asset Values

• Highest ESG Standards

• Alpha Management of Assets

• 90% of debt at a fixed interest rate

• Pre-hedging of more than 1/3 of future debt maturities

• Liquidity of €2.5bn: more than 2x coverage of financing needs 22-24

CORPORATE STRATEGY

Appendix

1. Topped-up passing GRI as of 31/12/21 excluding passing GRI of Barcelona acquisition

2. Includes other refurbishments

Capital Markets research - JLL APPENDICES

29

1. Topped-up passing GRI as of 31/12/21 excluding passing GRI of Barcelona acquisition

2. Includes other refurbishments

www.inmocolonial.com

© Colonial