Third-quarter 2025 financial information

Third-quarter 2025 financial information: sustained growth and objectives confirmed

Key financial information

• Net rental income up 9. 9 % (up 3.2% like for like) compared with the first nine months of 2024

• Confirmation of expected recurring earnings per share of €1.79 in full year 2025, corresponding to growth of 7.0%

• EBITDA margin expected to improve in 2025 to 79% (up 130 basis points versus 2024)

Trading for the first nine months of 2025

• Retailer sales up 0.7% and footfall up 0.3%

• Dynamic leasing activity: 646 leases signed, with rental uplift of 2.6%

• Financial occupancy at 95.3% (stable versus end September 2024, Galimmo pro forma) (1)

• Collection rate of 96.6% (up 50 basis points vers us end September 2024) (2)

Significant events

• Successful launch of a second €300 million Green Bond with a maturity of just over seven years (2033) and a fixed annual coupon of 3.75% (spread 130 basis

points above the benchmark rate)

• Launch of a new €10 mill ion share buyback programme on 24 October 2025

• Carmila awarded a Green Star designation by GRESB, with a score of 92/100

(1) On a reported basis (including Galimmo). Financial occupancy (excluding Galimmo): 95.5%.

(2) On a reported basis (including Galimmo). Galimmo collection rate: 96.8%.