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Intervest Offices & Warehouses NV: Interim Statement Third Quarter 2021

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Realization of important milestones in strategic growth plan #connect2022
through focus on active rental policy and sustainable value creation via
in-house (re)developments, resulting in a solid foundation for the future

Solid financial results

  • EPRA earnings per share of € 1,30 for 9M 2021, +10% compared to 9M 2020

  • Increase of previously communicated expected EPRA earnings per share for 2021 from € 1,65 - € 1,68
    to € 1,70 - € 1,72

  • Confirmation of target gross dividend of € 1,53 for 2021, at the same level as in 2020

Focus on active rental policy results in strong key figures

  • Occupancy rate of total real estate portfolio: + 1% to 94%

  • Organic growth of rental income: 5%

  • Major rental transactions in logistics portfolio in Genk, Herentals, Herstal, Oevel and Eindhoven

Investments as foundation for future value creation

  • Focus on future development potential and futureproof modernization of the existing portfolio

  • Increase in fair value of investment properties with € 97 million or 9,5%

Solid basis for the future

  • Two real estate segments, diversified tenants, strong balance sheet and sufficient investment capacity due to € 120 million unused credit lines

  • Realization of 25% growth in real estate portfolio since 2019

  • Future potential increase in value over a period Q4 2021 – 2025 between € 238 – € 281 million through (re)development projects

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