Zambal Spain Socimi S A : Presentación de la Junta General de Accionistas de 20 de junio de 2024 (1 MB)

OTRA INFORMACIÓN RELEVANTE

ZAMBAL SPAIN SOCIMI, S.A.

20 de junio 2024

En virtud de lo previsto en el artículo 17 del Reglamento (UE) nº 596/2014 sobre abuso de mercado y en el artículo 227 de la Ley 6/2023, de 17 de marzo, de los Mercados de Valores y de los Servicios de Inversión, y disposiciones concordantes, así como en la Circular 3/2020 de BME Growth, ZAMBAL SPAIN SOCIMI, S.A. (la "Sociedad"), pone en su conocimiento que:

Con motivo de la Junta General Ordinaria de Accionistas de ZAMBAL celebrada hoy día 20 de Junio de 2024, se adjunta la presentación corporativa que se ha utilizado en la misma.

De conformidad con lo dispuesto en la citada Circular 3/2020 se indica que la información comunicada por la presente ha sido elaborada bajo la exclusiva responsabilidad de la Sociedad y sus administradores.

Atentamente,

D. Thierry Julienne

Presidente del Consejo de Administración

ZAMBAL SPAIN SOCIMI S.A.

General Shareholders Meeting 20th

June 2024

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1. Business Highlights

More than €1,000M invested since

2013 in Spain

280,153 sqm GLA

~88% Portfolio Occupancy

Non recourse to bank financing across

the entire portfolio

Current External RICs Valuation of

Portfolio (31/12/2023): €985M

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1. Business Highlights

~95% of the portfolio's GLA being office

space

Medium and long-term leases

Multidisciplinary management team with a wide experience in the sector

At least 80% profit-distribution as dividends as per SOCIMIs Legislation

Net Operating Income (NOI) in 2023:

€46.3M *

* Net Operating Income from Zambal Spain Socimi, S.A.
Income from leasing + Re-invoicing of expenses - Direct operating expenses (from
property investments) + Amortization (Note 6 Stand Annual Accounts).	3

1. Who are we?

• Zambal Spain Socimi S.A. (hereinafter Zambal) is an investment vehicle created in 2013. Zambal's purpose is to invest and subsequently manage prime real estate assets in well-consolidated markets.
• Zambal is analysing the possibility to invest in other asset classes and markets.
• Zambal is mainly focused on a long-term investment policy, principally based on assets that generate stable incomes, due to their quality and location, as well as to the nature of their tenants. This allows the generation of recurrent cash flows and creation of value for the shareholders.
• Zambal owns a portfolio of 14 buildings in Madrid with office and retail use. Most of them have medium or long-term lease contracts with tenants of proven credit capacity, being, amongst others, Enagás; Unidad Editorial; Distribuidora Internacional de Alimentación (DIA); BMW Ibérica, Vodafone España, ATOS Spain, Naturgy, NTT Data and the Community of Madrid.
• Most of the acquisitions have been made with full equity.
• The decision making process of Zambal allows the company to rapidly reach decisions on new potential acquisitions, enabling to close transactions where the time factor is a crucial element.
• Zambal is a vehicle externally managed by IBA Capital Partners S.L.; an independent private capital management company specialized in real estate investment.

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2. 2023 Summary

1. Zambal is oriented towards prime real estate recurring rents-generating assets, preferably commercial (tertiary use), mainly located in Madrid :
2. 1. During 2023, there has been an increase in net rental income by € 2,1m. The main reason was due to the increase in rents due

to CPI.

1. The 15th of December Zambal has acquired the 100% of the shares of Bato Real Estate, S.L. (previously Tailor Propco Spain, S.L.), a company with an office building located at Francisco Gervás 10 and leased to Community of Madrid.

1. Zambal reached an agreement for the renewal of the lease agreement of Unidad Editorial in Avda. San Luis 25 (for the 68% of

the building) and has initiated a refurbishment that is expected to be finished in Q4 2024.

IV. The refurbishment in One Ágora is expected to be finished in Q2 2024. The progress of the building works has aroused great interest in the office sector, due to the high level of amenities for future tenants.

1. Asset Management actions in 2023:

1. CAPEX:

1. One Ágora : the refurbishment works carried out in the building up to December 2023 amount to € 30.8M.

1. San Luis 25: during 2023 refurbishments have started in the building in order to improve the building and lease the spaces that

Unidad Editorial will vacate in 2024. During 2023 works for an amount of €1,143k have been carried out. Total investment will be around €5.5 M and will be completed in 2024.

1. Albarracín 25: During 2023, construction works have ended in this building for an amount of €1,6m and a PREE subsidy was awarded for € 315k.

1. New Agreements:

AV. BURGOS 118 (BMW):

Negotiations have started with the tenant to

extend their lease agreement and increase the rent

from January 2025.

LERIDA 44 (NATURGY):

An agreement has been reached to replace

Naturgy (previous tenant) with Lexer (user of the building and new tenant) with an increase of the rent.

AVDA SAN LUIS 25 (UNIDAD EDITORIAL):

Unidad Editorial has extended their lease

agreement for 68% of the surface of the building and 8 additional years since January 2024. Zambal has started the refurbishment of the building in 2023 and is expected to finish it in 2024.

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3.1. Portfolio Evolution

Millones

Portfolio Evolution

1.000

980

960

940

920

900

880

860

840

820

800

Valuation - December 2021		Valuation - December 2022	Valuation - December 2023
		Acquisition value		Market value

RICS valuations by an external expert.

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4. Assets Acquired in 2013

AVDA. DE SAN LUIS 25 (Madrid) OFFICE BUILDING

• Acquisition Date: September 2013
• GLA: 16,889 sqm + 403 parking units
• Tenant: UNEDISA (RCS Media Group)

The building is located in the north of Madrid between the M-30 and M-40 satellite highways and has direct access to the airport.

The property consists of five floors, three of them above ground, and is fully leased long-term to UNEDISA, one of the major Spanish media groups and a subsidiary company of the Italian media group RCS.

ONE ÁGORA (Madrid) OFFICE BUILDING

• Acquisition Date: December 2013
• GLA: 31,734 sqm + 450 parking units
• Tenant: Vacant

Contemporary building in Madrid designed by Gabriel Allende in 2004. This asset is divided into two twin towers, each with 15 floors above ground and three floors below ground, with direct access from the M- 30 highway. The property is currently undergoing a comprehensive refurbishment process.

This project, in which IBA has collaborated with the architectural firm L35, involves a great improvement in the accessibility and representativeness of the building, the total renovation of its facilities, as well as the union of both towers and the creation of innovative common areas that will allow the extension of the services to be offered to tenants, thus becoming a benchmark in the office market and one of the most modern and innovative buildings in Madrid.

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4. Assets Acquired in 2014

PRINC BUILDING (Madrid) OFFICE BUILDING

• Acquisition Date: June 2014
• GLA: 9,798 sqm + 187 parking units
• Tenant: ENAGAS

Located in the Embajadores neighborhood of Madrid, which is enjoying sustainable growth thanks to the Madrid Río urban park and the Mahou beer maker, among others.

The building consists of two blocks with separate entrances and communication cores. It has eight floors above ground level and three basements, and it is 100% occupied on a long-term lease by ENAGAS, the main supplier of natural gas in Spain.

TRIPARK BUSINESS PARK (Las Rozas de Madrid) OFFICE BUILDING

• Acquisition Date: June 2014
• GLA: 10,480 sqm + 411 parking units
• Tenant: DIA

This contemporary building designed by Gabriel Allende and built in 2002 is part of the Tripark Business

Park (developed by Hines). It has four floors above ground and two below ground, and the building has

LEED Gold certification.

It is 100% leased to Distribuidora Internacional Alimentos, SA (DIA), one of the leading players in the food sector.

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4. Assets Acquired in 2015

AVDA. DE BURGOS 118 (Madrid) OFFICE BUILDING

• Acquisition Date: January 2015
• GLA: 11,682 sqm + 495 parking units (*)
• Tenant: BMW

A standalone building located in a prestigious business park at the junction of the A-1 and M-11 highways, adjacent to the future extension of Madrid's central axis: the Paseo Castellana.

The property is fully leased on a long-term contract to BMW and serves as the company's Spanish

Head Office.

AVDA. DE AMÉRICA 115 (Madrid) OFFICE BUILDING

• Acquisition Date: September 2015
• GLA: 51,707 sqm + 1,503 parking units
• Tenant: VODAFONE SPAIN

Located on the North side of the avenue Avenida de América, it connects with the A-2 in both directions, with the M-40 to the north and with the neighborhoods Alameda de Osuna and Canillejas. This business park, completed in 2012, is made up by 5 free-standing glass buildings surrounding a central area where the accesses are brought together.

Each building has a ground floor plus six above ground floors for office use, and two underground floors used as parking.

The whole building is rented on a long-term lease to Vodafone España, S.A.U. and it is the company's Spanish headquarters.

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