EQS-News: HAMBORNER REIT AG continues busines...

PRESS RELEASE

HAMBORNER REIT AG continues business development as planned in the second quarter of 2026

• Reduction in income from rents and leases by 1.3% to €45.1 million
• Decrease in FFO 4.4% to €23.8 million
• Net asset value (NAV) per share at €8.72 (-3.9% YTD)
• Loan-to-value (LTV) at 45.2%
• Full-year 2026 forecast confirmed

BUSINESS FIGURES FOR THE FIRST HALF OF 2026

Duisburg, 4 August 2026 – In a persistently challenging macroeconomic and sector-specific environment, HAMBORNER REIT AG was once again able to report a largely stable and on-track operational performance in the second quarter of the current year.

Income from rents and leases amounted to €45.1 million, which was 1.3% below the level of the same period last year. The decline was mainly attributable to property disposals made in both the previous and current financial years. Revenue performance was positively influenced by contractually agreed rent adjustments resulting from inflation (index-linked rent increases). On a like-for-like basis, rental income in the first half of the year was approximately €0.7 million, or 1.7%, higher than the figure for the same period last year.

Funds from Operations (FFO) decreased by 4.4% compared with the same period last year to €23.8 million. Accordingly, FFO per share fell to €0.29 (previous year: €0.31). Besides lower rental income and other operating income, earnings were impacted by the cost increases forecasted in the full-year outlook in the areas of maintenance, administration and personnel as well as higher financing costs resulting from the changed interest rate environment.

The company’s financial position remains solid. Influenced by the dividend payment made in the second quarter and value adjustments within the property portfolio, the loan-to-value ratio (EPRA LTV) rose to 45.2% compared with the end of 2025 (31 December 2025: 44.3%). The REIT equity ratio fell accordingly during the first half of the year and remained at a high level of 53.9% as at 30 June 2026 (31 December 2025: 54.7%).

PORTFOLIO DEVELOPMENT

During the first quarter of 2026, the transfer of ownership of the retail property in Ditzingen, which had been sold at the end of 2025, took place. As at 30 June 2026, the portfolio thus comprised 63 retail and office properties. The company did not commission a portfolio-wide external valuation of its property portfolio at the end of the half-year. Regardless of this, isolated adjustments to market values were made in consultation with the company’s external appraiser.

Following an increase of €4.4 million in the market value of an office property in Cologne, which had already taken place at the end of the first quarter, value adjustments were made as at 30 June 2026 for a total of eight office and retail properties. These were attributable, amongst other things, to changes in location and letting prospects, as well as increased cost forecasts for subsequent lettings. Overall, the revaluations and write-downs during the year led to a decrease in the portfolio value of €20.7 million, or 1.5%. Accordingly, the market value of the total portfolio at the end of the first half of the year stood at €1.316 billion.

Influenced by the dividend payment and the market value adjustments, the net asset value (NAV) per share fell by 3.9% compared with the end of 2025 (€9.07) and stood at €8.72 as at 30 June 2026.

STRATEGIC PORTFOLIO ADJUSTMENT

In connection with the strategic realignment of the property portfolio announced in February 2026, the company successfully completed its first transaction in the second quarter and signed the sale agreement for an office property in Neu-Isenburg. The sale price of the property amounts to €13.5 million, which was slightly below the level of the most recently appraised market value. Subject to the fulfilment of a contractually stipulated condition, additional sales proceeds of up to approximately €0.2 million may be realized. The transfer of ownership is expected to take place in the third quarter of 2026. The company intends to reinvest the funds released as soon as possible in high-yield properties in the FMCG and DIY sectors, in line with its expanded acquisition profile.

OPERATIONAL BUSINESS DEVELOPMENT

At the operational level, business development in the first half of the year also proved to be largely stable and in line with plans. Since the start of the year, leases have been signed for approximately 23,700 m² of rental space (previous year: 12,400 m²), with office space accounting for around 66%. The tenant retention rate remained at an extremely high level of approximately 88%.

The average remaining lease term (WALT) declined slightly over the course of the year and stood at 5.0 years as at 30 June 2026 (31 December 2025: 5.3 years). The terms within the retail and office portfolios amounted to 6.2 and 3.6 years respectively. The EPRA vacancy rate stood at 4.1% as at the reporting date, slightly above the low level recorded at the end of 2025 (3.5%).

DIVIDEND & ANNUAL GENERAL MEETING

On 3 June 2026, the company’s Annual General Meeting took place as an in-person event in Essen. At the AGM, all resolutions proposed by the Executive Board and the Supervisory Board were approved by a large majority. The resolutions concerned, amongst other things, the discharge of the Executive Board and the Supervisory Board for the financial year 2025, the approval of the remuneration report, and the renewal of the authorisation for a possible future share buyback. Furthermore, the Annual General Meeting confirmed the dividend proposal and resolved to pay a dividend for the financial year 2025 of €0.39 per share.

OUTLOOK

The company continues to take a fundamentally positive view of the course of 2026 and stands by its most recently published assessments regarding future business development. Taking into account the assumptions stated in the 2025 Annual Report, the company expects income from rents and leases in the 2026 financial year in a range from €87.5 million to €89.5 million. Funds from operations (FFO) are expected in the range between €38.0 million and €42.0 million.

KEY FINANCIAL AND PORTFOLIO FIGURES AS OF 30 JUNE 2026

	H1 2026	H1 2025	Change
Income from rents and leases	€45.1m	€45.7m	-1.3%
Operating result	-€6.6m	€10.5m	n/a
Period result	-€13.7m	€6.5m	n/a
Funds from Operations	€23.8m	€24.9m	-4.4%
Funds from Operations (FFO) per share	€0.29	€0.31	-4.4%
	30 June 2026	31 Dec 2025	Change
REIT equity ratio	53.9%	54.7%	-0.8%-pts
Loan to Value (EPRA LTV)	45.2%	44.3%	+0.9%-pts
EPRA Net Asset Value (NAV)	€709.3m	€738.1m	-3.9%
EPRA Net Asset Value (NAV) per share	€8.72	€9.07	-3.9%
EPRA Net Tangible Assets (NTA)	€709.3m	€738.1m	-3.9%
EPRA Net Tangible Assets (NTA) per share	€8.72	€9.07	-3.9%
Number of properties	63	64	-1
Fair value of the property portfolio	1,315.9m	€1,348.5m	-2.4%
EPRA vacancy rate	4.1%	3.5%	+0.6%-pts
Weighted remaining term of leases (WALT)	5.0 years	5.3 years	-0.3 years

The full half-year financial report 2026 is available for download in the Financial Reports section of the company's website. Further information on the key performance indicators is available in the glossary.

ABOUT HAMBORNER REIT AG

HAMBORNER REIT AG a public company listed in the SDAX that operates exclusively in the property sector and is positioned as a portfolio holder for high-yield commercial properties. The company generates sustainable rental income on the basis of a diversified portfolio of properties distributed throughout Germany with a total value of around €1.3 billion. The portfolio focuses on attractive local supply properties such as large-scale retail assets, retail parks and DIY stores in city-centre locations, district centres and highly frequented edge-of-town sites in large and medium-sized German cities, as well as modern office properties in established locations.

HAMBORNER REIT AG is distinguished by its many years of experience on the property and capital market, its consistent and sustainably attractive dividend strategy and its lean and transparent corporate structure. The company is a registered real estate investment trust (REIT) and benefits from corporation and trade tax exemption at company level.

CONTACT

Christoph Heitmann
Head of Capital Markets, Financing & Sustainability

T.: +49 (0)203 54405-32
M: info@ir.hamborner.de
W: www.hamborner.de

DISCLAIMER

This press release has been issued by HAMBORNER REIT AG (hereinafter "HAMBORNER") solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of HAMBORNER ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from HAMBORNER's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by HAMBORNER and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should therefore not be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. HAMBORNER accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. HAMBORNER does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. HAMBORNER is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release.