Yoda PLC — M&A Activity 2026

Mar 30, 2026

YODA PLC

29 March 2026, Nicosia, Cyprus

Announcement

Completion of the Acquisition of the Transamerica Pyramid Center

YODA PLC (the “Company”), further to its announcement dated 25 February 2026 regarding the strategic acquisition of the Transamerica Pyramid Center (the “Transaction”) from BHSD TPC PROPCO LLC, BHSD 545 PROPCO LLC, BHSD 505 PROPCO LLC, BHSD REDWOOD PARK PROPCO LLC, is pleased to announce the successful completion of the Transaction on 27 March 2026.

This milestone marks the culmination of a transformative investment for the Company and formally establishes YODA PLC’s presence in the United States through the ownership of one of the most iconic and globally recognized commercial real estate assets.

The cost of acquisition for the Transaction is of Seven Hundred Twenty Five Million Dollars US ($725,000,000) comprised of a) the final discounted agreed purchase price for the Properties of Six Hundred Ninety-One Million Six Hundred Thousand Dollars US ($691,600,000), and b) the price paid for the final settlement with the current Asset Manager Mr. Michael SHVO and the entities Shvo Group LLC, Shvo Property Management LLC and Shvo Brokerage LLC for i) his commission on the Transaction for both sides, ii) terminating all his services with the asset management and involvement with the property and c) the buyout of his ROFO agreement in place for a total consideration of Thirty Four Million Dollars US ($34,000,000).

48 Themistokli Dervi Avenue, Athienitis Centennial Building, 7th Floor, Suite 703, 1066 Nicosia, Cyprus
T +357 22 57 03 80
F +357 22 57 03 88
www.yoda.com.cy

---

The consideration has been settled as follows:

• US$100,000,000 was deposited upon signing of the sale and purchase agreement; and
• The remaining balance, together with the deposit, was paid upon completion on 27 March 2026.

The cost of acquisition was financed by a US$300,000,000 bank loan and the balance of US $425,000,000 plus legal and various expenses through equity.

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 in 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.

The Transamerica Pyramid went through a comprehensive transformation in the past years of the 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 Transamerica Redwood Park. The building has secured blue-chip global tenants and achieved unprecedented leasing momentum for the market. The record rents reached at the property are among the highest on the West Coast underscore sustained demand for best-in-class, architecturally significant and elevated expertise-office space in premier urban markets.

We believe we have a lot to add to this magnificent asset and make it one of the most desired places in the San Francisco market, especially revitalizing the Transamerica Redwood Park and its existing buildings as well as exploit some 800,000 sqft of development rights in the property.

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 pre-pandemic 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 post pandemic 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 wars in specific assets like the Transamerica Pyramid where rents of US$300 per square feet have been achieved.

48 Themistokli Dervi Avenue, Athienitis Centennial Building, 7th Floor, Suite 703, 1066 Nicosia, Cyprus
T +357 22 57 03 80
F +357 22 57 03 88
www.yoda.com.cy

---

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.

The Company believes this investment positions it at the forefront of the ongoing recovery and “flight-to-quality” trend in the U.S. commercial real estate sector, with strong fundamentals driven by premium Class A assets.”

The above transaction was executed with independent third party companies owning the Properties, has was 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 accounting treatment of the transaction in the Company’s consolidated financial statements and their impact on 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.

Note: All capitalized terms not otherwise defined herein, shall have the meaning ascribed to them in the Company’s announcements dated 25 February 2026.

48 Themistokli Dervi Avenue, Athienitis Centennial Building, 7th Floor, Suite 703, 1066 Nicosia, Cyprus
T +357 22 57 03 80 F +357 22 57 03 88 www.yoda.com.cy