Malta Properties Company Plc

Earnings Release • Dec 9, 2024

Malta Properties Company plc The Bastions, Triq Emvin Cremona, Floriana. FRN 1281 t. +356 2123 0032 www.maltaproperties.com.mt

The following is a Company Announcement issued by Malta Properties Company p.l.c. ("the Company") pursuant to the Capital Markets Rules as issued by the Malta Financial Services Authority in accordance with the provisions of the Financial Markets Act (Chapter 345 of the Laws of Malta) as they may be amended from time to time.

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Q3 2024 unaudited results show continued progress for the Group's operational and financial performance when compared to the same quater of 2023. Revenues for the first 3 quarters of 2024 grew to €4.32m compared to €3.66m for the same period in 2023. Operating profits (EBIT) for the same period grew to €3.26m compared to €2.75m in 2023. The growth in revenue was driven by the leasing out of The Exchange at Spencer Hill in Marsa. Also, additional rental income was received from the Mediterranean Building in Ta' Xbiex which is now fully occupied.

Comparison with same period last year ¹

	YTD Q3 2024	YTD Q3 2023
	€'000s	€'000s
Revenue	4,319	3,663
EBIT	3,260	2,754
Profit for the period	1,747	1,162

1 All figures quoted in this document have been extracted from the Group's Unaudited Management Accounts.

Year to date, commercial performance has been good. In addition to fully leasing out the Mediterranean Building in Ta' Xbiex, we secured a new lease agreement for The Exchange at Spencer Hill, Marsa. This property will be fully leased out to a government authority once works are completed (over 2025), including the building of a substantial rooftop extension. We have also secured a lease for the entirety of our Swatar property which HSBC Global Services vacated at the end of October 2024. One floor of this property had been released earlier in the year and a new tenant, the Ministry of Health, leased this area from the end of Q1 2024. The remaining 3 floors will be occupied by the same tenant once renovation works are completed in 2025.

No properties were acquired or sold during the period being discussed.

Outlook

The Group expects this steady performance to continue through the rest of the year. We also maintain a positive outlook beyond, reflecting the strength of the Maltese economy and despite challenges in the office market. 2025 is an important year for the Group, with several leases expiring at the end of 2024. We continue to remain focused on securing new tenants for these

MPC102024

properties. Some of these properties require renovations and these works will continue in the first half of 2025. Income from these properties will decrease in 2025 while renovation works are undertaken and we secure new tenants. The Group remains in a good position to withstand changes in the environment, underpinned by the quality of its tenants, strong balance sheet and long-term financing, and a focus on providing a good service to its tenants.

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Dr. Francis Galea Salomone LL.D. Company Secretary

9 December 2024