Inmobiliaria Colonial Socimi S.A.

Investor Presentation • May 16, 2024

De conformidad con lo establecido en el artículo 227 de la Ley 6/2023, de 17 de marzo, de los Mercados de Valores y de los Servicios de Inversión, Inmobiliaria Colonial, SOCIMI, S.A. ("Colonial" o la "Sociedad") comunica la siguiente

OTRA INFORMACIÓN RELEVANTE

Como continuación a la comunicación de "otra información relevante" publicada el 16 de mayo de 2024 con número de registro 28702, Colonial remite documentación de soporte a la presentación a analistas e inversores, que se celebrará hoy, jueves, día 16 de mayo de 2024 a las 18:30 horas (CET) a través de un webcast.

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

Francia (Paris) +33 172 00 1700

Alemania (Munich) +49 891 436 7081

Holanda (Amsterdam) +31 20 795 2680

España (Madrid) +34 917 91 85 80

Reino Unido (Londres) +44 20 3428 1388

Estados Unidos (Nueva York) + 1 917 444 9040

Identificador de la conferencia: 232145

La presentación online será visible a tiempo real vía webcast con audioconferencia a través del siguiente link:

Inmobiliaria Colonial – Alpha X

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

En Madrid, a 16 de mayo de 2024.

DISCLAIMER

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 It may not be reproduced, or redistributed to any other person, and it may not be published, in whole or in part, for any purpose.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.

Agenda

Executive Summary

Enhanced Capital Structure

Transaction Rationale

Conclusion

01 Executive Summary

Colonial announces new Alpha Strategies & enhances its Capital Structure

• Colonial reinforces its Capital Structure with the entry of CriteriaCaixa as new reference shareholder ^I
  • Capital increase of €622m at a price of €7.1/share pre–dividend with a significant premium on share price
  • Total contribution: €350m in cash and €272m in assets (60% living & 40% office)
  • Strong endorsement of Colonial's strategy by a long-term strategic investor with an industrial growth approach

Transaction Rationale: Reloading Colonial's growth profile with a solid Capital Structure II

• Colonial launches a new Project Pipeline of 110,000 sqm of prime assets with circa €385m capex at an ungeared IRR of more than +9%
• Additionally, CriteriaCaixa contributes €272m of urban-mixed use assets (60% living & 40% office) with ungeared IRRs of >6% & >7%
• Increased financial flexibility for opportunistic acquisitions

Financial impacts

III

Attractive Total Shareholder Return through new growth projects & increased financial flexibility

• Transaction with premium on share price and significant increase in market capitalization
• Accretive transaction in EPRA LTV with an improvement of more than 450bps/ LTV improvement expected to be sustained over time
• EPS 2024 guidance confirmed post transaction: 30-32 €cts/share
• Transaction slightly dilutive on last reported NTA (9.55 €/share post deal (4.0%) vs. 12/23)

Governance IV

• CriteriaCaixa to own circa 17% of Colonial, post transaction
• Transaction to be approved by Extraordinary General Shareholders Meeting

Conclusion

• 02 Enhanced Capital Structure
• 1. Colonial reinforces its Capital Structure with CriteriaCaixa as new shareholder I
• Capital increase of more than €620m at a price of €7.1/share predividend with a significant premium on share price I a
  • Institutional long-term investor to subscribe €622m at a premium to share price, which showcases Colonial's value potential
  • Premium on YTD VWAP & above current trading
  • Substantial deleverage providing enhanced financial flexibility
  • Significant increase of market capitalization post transaction

Total contribution: €350m in cash and €272m in central urban assets I b

• Contribution of €272m of central urban assets at NTA parity
• Contribution of €350m in cash at 5.80 €/share
• Contribution to be executed after dividend payment of 0.27 €/share: Blended price post dividend of 6.83 €/share.
• Strong endorsement of Colonial's strategy by a long-term strategic investor with an industrial growth approach I c
  • CriteriaCaixa is one of Europe's leading investment holding companies
  • Reinforcement of capital structure with a new long term and prestigious shareholder as catalyst for Colonial's growth strategy

Enhanced Capital Structure

Transaction Rationale

Conclusion

• Urban transformation portfolio with total cost of circa €1bn¹ and an expected yield on cost in excess of +6%
• Substantial reversion to be captured with more than €64m of rental revenues to be achieved at project delivery
• Urban regeneration projects with significant prime factory value creation potential
• II b CriteriaCaixa contributes 8 assets in-line with Colonial's urban regeneration strategy, with a total value of €272m (40% office & 60% living) Urban living as a natural complementary product for a prime office strategy
  • Offices focused on Madrid CBD and Mendez-Alvaro with attractive perspectives of accelerating rental growth
  • Additional value creation through Value-Add strategies on the back of Colonial's management team track record
  • High Quality Living portfolio in consolidated urban areas in the city center with significant rental growth perspective and capital value growth

II a Acceleration of a new Project Pipeline with an ungeared IRR of more than +9%

¹ Levered IRR at EPRA LTV post transaction

Acceleration of a new Project Pipeline with an ungeared IRR of more than +9% II a

Acceleration of a new Project Pipeline with an ungeared IRR of more than +9% II a

Life Science/ Healthcare Urban Mixed-Use Business Campus

Sancho de Ávila Barcelona – 22@

Condorcet Paris – City centre

Santa Hortensia Madrid – City centre

Scope Paris – City centre

CriteriaCaixa contributes €272m of urban mixed-use assets

2

Madrid Barcelona

Málaga

Zaragoza

Urban regeneration strategy

• Offices focused on Madrid CBD and Mendez-Alvaro Offices: Ungeared IRR > 7%

• Living portfolio in urban central areas with solid rental growth perspective Living: Ungeared IRR > 6%

Enhanced Capital Structure

Transaction Rationale

Conclusion

Transaction with significant deleverage accelerating Colonial's Total Return

ACCELERATION OF COLONIAL'S GROWTH

Attractive Total Shareholder Return with an enhanced Capital Structure

• I. Launch of new Project Pipeline with > 9% ungeared IRR
• II. Extract value & cash flow from contributed urban assets
• III. Financial flexibility for opportunistic acquisitions

Short Term Impacts

• Transaction with premium on share price

• Material reduction of EPRA LTV: more than 450 bp

• 2024 EPS guidance confirmed: 30-32 €cts/share

• Slightly dilutive on last reoprted NTA: 9.55 €/sh. post deal (4.0%) vs. NTA 12/23¹

Mid Term – Acceleration of Growth

• Improved EPRA LTV level expected to be sustained over time

• Transaction accretive on forward looking EPRA EPS

• Transaction with mid term acceleration in NTA growth

Enhanced Capital Structure

Transaction Rationale

05 Conclusion

Colonial reloads its growth profile within a framework of solid fundamentals

New Alpha strategies with an enhanced capital structure to accelerate growth

• Reinforcement of capital structure with a new long term and prestigious shareholder as catalyst for Colonial's growth strategy
• Significant deleveraging play providing enhanced financial flexibility
• Additional fire power to accelerate Colonial's growth profile to play the recovery of European real estate cycle via attractive alpha strategies
• Identified Alpha strategy: new sizable pipeline in place well diversified across emerging urban themes & cities at > 9% ungeared IRR
• Assets contributed in the office and residential space, in line with the urban regeneration strategy with additional value creation potential

Next Steps – Execution Milestones

• May/ June 2024 Independent Expert Report/ Contribution agreement signed
• June 2024 Extraordinary Shareholders Meeting
• July 2024 Effective contribution and new issuance of share

• 1. Adjusted 12/23 Topped-Up Passing rents by Santa Hortensia & Condorcet/ Condorcet tenant departure in 12/2024
• 1. Alpha X includes new Project Pipeline, contributed assets & renovation program Diagonal 197

THANK YOU

Colonial 1
Property reference in quality office
market in the euro zone
Colonial at a glance >
Market value 31/12/2022 € 13.005 €m	Surface above ground E 1.688.149 m²	Number of assets E 80 inmuebles

https://www.inmocolonial.com/en/shareholders-and-investors

Alpha X | 17

06 Appendix

Capital increase of more than €620m with a significant premium on share price

06 Appendix

Capital increase of more than €620m with significant deleverage impact

1 Impacts pre-dividend payment

Urban Transformation Pipeline

¹ Total Cost = Asset Value pre project + future Capex

Total Cost Stabilized value

An attractive Growth Profile in Rents

1. Condorcet tenant departure in 31/12/2024

2. Rental price, occupancy & small refurbishments

3. Alpha X includes new Project Pipeline, contributed assets & renovation program Diagonal 197

Significant Additional Revenue Growth

© 2024 Colonial www.inmocolonial.com