Yoda PLC — M&A Activity 2026

Feb 25, 2026

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25 February 2026, Nicosia, Cyprus

Announcement Strategic Acquisition of the Transamerica Pyramid Center and Landmark Entry into the United States Real Estate Market

YODA PLC (the "Company") announces that on 11 February 2026, through a wholly owned subsidiary, entered into a purchase and sale agreement for the acquisition of 100% of the premier real estate portfolio comprising the iconic office and retail properties known as the Transamerica Pyramid Center located in San Francisco, California, USA (the "Properties").

This transaction represents a defining milestone in the Company's international expansion strategy and marks its strategic entry in the United States real estate market through the acquisition of one of the most iconic real estate assets in the world. Encompassing an entire city block in San Francisco's Financial District, the Transamerica Pyramid Center has been and is a symbol of the strength and innovation of San Francisco. Designed and completed by world famous architect William Pereira, and remastered by Lord Norman Foster + Partners over a four year renovation plan, fully delivered in 2024, the Transamerica Pyramid stands as a timeless icon and one of the most recognizable buildings in the world. At a height of over 850 feet and 48 floors, including its illuminated pyramidal spire, it is the most recognizable landmark on the San Francisco skyline.

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With unobstructed 360-degree views, Transamerica Pyramid boasts a striking exterior clad in white quartz, with over 3,700 windows, unique in its pyramidal form, the building allows for distinct floor plates from 3,000 to 20,000 square feet, fully certified LEED Platinum with high class amenities including a full wellness center with gym, yoga, spa facilities, and sky lounge bar, restaurants and coffee shops, meeting rooms, enclosed Redwood park, relaxing areas, and exhibition spaces and areas, which has also defined the remastered icon as the place of culture.

The Properties totaling an existing square footage of over 1 million square feet, are comprised of the following:

A) Transamerica Pyramid – 600 Montgomery Street, San Francisco, CA

Rising over 850 feet across 48 floors and comprising approximately 763,000 square feet, the Transamerica Pyramid is one of the most recognizable office towers in the United States and an enduring symbol of San Francisco's Financial District. The property combines architectural distinction with modern, hospitality-driven amenities and premier Class A office positioning.

B) Two Transamerica – 505 Sansome Street, San Francisco, CA

A 362-foot office and retail property offering approximately 191,000 square feet of leasable space, strategically positioned with prominent corner exposure and panoramic city views.

C) Three Transamerica – 545 Sansome Street, San Francisco, CA

A boutique office property offering approximately 55,000 square feet of leasable space with frontage on Redwood Park, providing a distinctive urban setting.

D) Transamerica Redwood Park – Redwood Park, San Francisco, CA

A rare half-acre private urban park at the base of the Transamerica Pyramid, enhancing tenant experience and long-term asset desirability.

It is worth noting that from Transamerica Three and Redwood Park including Mark Twain alley, the Transamerica Pyramid Center is also privileged of circa 800,000 square feet of added development rights in floor area ratio (FARs)/ transferable development rights (TDRs), which once fully developed will bring the Transamerica Pyramid Center totaling a circa 1.8 million square feet.

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Statement of Mr. Alon Bar, CEO of YODA PLC:

"The acquisition of the Transamerica Pyramid Center represents a very strategic milestone for YODA PLC in 2026. We are investing into the United States, the largest and most sophisticated real estate market in the world, on this most sought-after landmark in San Francisco.

This investment establishes our presence in a Tier-1 U.S. gateway city through one of the most recognizable commercial assets globally and provides immediate scale and operational infrastructure.

This transaction is not a standalone investment. It is the foundation of a broader and clearly defined U.S. growth strategy. We are actively evaluating additional opportunities across key metropolitan markets and developing a structured acquisition pipeline in the United States. The Transamerica Pyramid Center structure will serve as the anchor from which we intend to expand, accelerating the growth of our U.S. portfolio over the coming years.

Since acquiring the property in 2020, SHVO led a comprehensive transformation of the Transamerica Pyramid, engaging world-renowned architect Lord Norman Foster and Foster + Partners to undertake the largest renovation in the building's more than 50-year history. The Foster-led remastering, revitalized interior environments, expanded tenant amenities — including a hospitality-driven arrival experience and elevated lounge spaces — and enhanced the public realm surrounding Redwood Park. The building has secured bluechip global tenants and achieved unprecedented leasing momentum for the market. The record rents attained at the property — among the highest on the West Coast — underscore sustained demand for best-in-class, architecturally significant office space in premier urban markets.

The U.S. commercial real estate (CRE) market in 2026 is entering a new cycle of recovery, characterized by stabilizing capital markets and significant sector-level divergence. Following a volatile 2025, investment volume is forecast to grow significantly to approximately \$562 billion this year, nearly returning to prepandemic averages. High-quality "Class A" assets and digital infrastructure are thriving, and we notice a sharp "flight-to-quality" trend. While older buildings struggle, trophy assets in hubs like New York, Miami, Dallas and San Francisco are seeing rent growth of roughly 3%. The San Francisco commercial real estate (CRE) market in 2026 is showing definitive and strong signs of stabilization following a multi-year postpandemic correction. The market is increasingly defined by premium Class A assets and AI-driven demand which are fueling a rebound in leasing activity, with signs of bidding war in specific assets like the Transamerica Pyramid where rents of 300 USD per square feet have been achieved.

We are committed to disciplined capital allocation, responsible stewardship, and long-term value creation for our investors, tenants, and the local community.

This transaction reflects our disciplined capital allocation strategy and our commitment to executing investments that deliver durable, long-term recurring EBITDA and cash flow, while strategically enhancing the intrinsic value and overall strength of our balance sheet."

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Other information:

The above transaction was executed with independent third party companies owning the properties, has been conducted at arm's length taking into consideration the latest available financial, operational and commercial information available for the Properties as well as the advice received from various advisors, and forms part of the Company's business plan. The transaction details including the consideration price and payment details will be announced once the transaction is completed and the accounting treatment of the transaction in the Company's consolidated financial statements and their impact to the Company's goodwill and/or profit or loss (on a consolidated basis) as well as the anticipated effect on the Company's prospects or results, will be assessed upon the completion of the review procedures during the third quarter of the year. Any goodwill and/or profit or loss, as well as tenant rights/rental income, will be presented in the Company's interim consolidated financial statements for the first half of 2026.

The above transaction does not affect the interest of the secretary of the Company or a designated person as such is defined in article 137(3) of the CSE Law.