Informe semestral en inglés

Árima Real Estate SOCIMI, S.A.

and its subsidiaries Report on limited review Condensed consolidated interim financial statements for the six month period ended 30 June 2026 Consolidated interim management report

This version of our report is a free translation from the original, which was prepared in Spanish. All possible care has been taken to ensure that the translation is an accurate representation of the original.

However, in all matters of interpretation of information, views or opinions, the original language version of our report takes precedence over this translation.

Report on limited review of condensed consolidated interim

financial statements

To the shareholders of Árima Real Estate SOCIMI, S.A.

Introduction

We have performed a limited review of the accompanying condensed consolidated interim financial statements (hereinafter, the interim financial statements) of Árima Real Estate SOCIMI, S.A. (hereinafter, the Parent company) and its subsidiaries (hereinafter , the Group), which comprise the balance sheet as at 30 June 2026, and the income statement, statement of comprehensive income, statement of changes in equity, cash flow statement and related notes, all condensed and consolidated, for the six -month period then ended. The Parent company's directors are responsible for the preparation of these interim financial statements in accordance with the requirements of International Accounting Standard (IAS) 34, Interim Financial Reporting, as adopted by the European Union, for the preparation of condensed interim financial statements, as provided in Article 12 of Royal Decree 1362/2007. Our responsibility is to express a conclusion on these interim financial statements based on our limited review.

Scope of review We conducted our limited review in accordance with International Standard on Review Engagements 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity. A limited review of interim financial statements consists of m aking inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A limited review is substantially less in scope than an audit conducted in accordance with legislation governing th e audit practice in Spain and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion on these interim financial stateme nts.

Conclusion

Based on our limited review, that cannot be considered as an audit, nothing has come to our attention that causes us to believe that the accompanying interim financial statements for the six -month period ended 30 June 2026 have not been prepared, in all ma terial respects, in accordance with the requirements of International Accounting Standard (IAS) 34, Interim Financial Reporting, as adopted by the European Union, as provided in Article 12 of Royal Decree 1362/2007, for the preparation of condensed interim financial statements.

Emphasis of matter We draw attention to note 2.1 to the interim financial statements, in which it is mentioned that these interim financial statements do not include all the information required in a complete set of consolidated financial statements prepared in accordance w ith International Financial Reporting Standards, as adopted by the European Union, and therefore the accompanying interim financial statements should be read together with the consolidated annual accounts of the Group for the year ended 31 December 2025.

Our conclusion is not modified in respect of this matter.

Other matters

Consolidated interim management report The accompanying consolidated interim management report for the six -month period ended 30 June 2026 contains the explanations which the Parent company's directors consider appropriate regarding the principal events of this period and their impact on the in terim financial statements presented, of which it does not form part, as well as the information required under the provisions of Article 15 of Royal Decree 1362/2007. We have verified that the accounting information contained in this management report is in agreement with that of the interim financial statements for the six -month period ended 30 June 2026. Our work as auditors is limited to checking the consolidated interim management report in accordance with the scope mentioned in this paragraph and does not include a review of information other than that obtained from Árima Real Estate SOCIMI, S.A. and its subsidiaries' accounting records.

Preparation of this review report This report has been prepared at the request of directors in relation to the publication of the half -yearly financial report required by Article 100 of Law 6/2023, of March 17, on Securities Markets and Investment Services.

PricewaterhouseCoopers Auditores, S.L.

Original signed by Fernando Pindado Rubio 21 September 2026

This version of the condensed interim consolidated financial statements is a free translation from the original, which is prepared in Spanish. All possible care has been taken to ensure that the translation is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions, the original language version of the condensed interim consolidated financial statements takes precedence over this translation.

ÁRIMA REAL ESTATE SOCIMI, S.A.

AND SUBSIDIARIES

Condensed Consolidated Interim Financial Statements and the Consolidated Interim Management Report for the six-month period ending on 30 June 2026

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

CONTENTS OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD OF SIX MONTHS ENDED ON 30 JUNE 2026

Note

Condensed consolidated interim balance sheet.

Condensed consolidated interim income statement.

Condensed consolidated interim statement of comprehensive income.

Condensed consolidated interim statement of changes in equity.

Condensed consolidated interim statement of cash flows.

Notes to the condensed consolidated interim financial statements for the six-

month period ended on 30 June 2026

1. Activities and general information.

2. Presentation basis of the condensed consolidated interim financial statements.

3. Financial risk management.

4. Financial information by segment.

5. Intangible assets.

6. Property, plant and equipment.

7. Investment properties.

8. Financial instruments analysis.

9. Financial assets at amortized cost and financial derivatives.

10. Cash and cash equivalents.

11. Share capital, share premium, treasury shares and earnings per share 12. Financial liabilities at amortized cost and financial derivatives.

13. Income and expenses.

14. Income tax and tax position.

15. Financial hedging derivatives 16. Provisions, contingencies and bank guarantees.

17. Board of Directors and other staff remuneration.

18. Related-party transactions.

19. Information requirements resulting from SOCIMI status, Act 11/2009, as amended by Act 16/2012 and Act 11/2021.

20. Subsequent events.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

CONDENSED CONSOLIDATED INTERIM BALANCE SHEET AT 30 JUNE 2026

(Thousand euros)

1

ASSETS

Note On 30

June

2026 On 31

December

2025

NON-CURRENT ASSETS

Intangible assets 5 311 373 Property, plant and equipment 6 81 33 Investments properties 7 584,204 563,546 Non-current financial investments 8,966 6,978 Other non-current financial assets 8, 9 8,704 6,827 Financial hedging derivatives 8, 9, 15 262 151 Prepayment for non-current assets 8 798 265

594,360 571,195

CURRENT ASSETS

Trade receivables and other receivable services 3,998 2,391 Trade receivables for sales and services 8, 9 2,842 1,991 Other receivables accounts 8, 9 1,048 237 Other credits held with Public Authorities 9, 14 108 163 Short-term investments in group companies 815 795 Short-term financial investments 401 164 Other short-term financial assets 8, 9 401 -

Financial hedging derivatives 8, 9, 15 - 164 Short-term accruals 8 2,394 903 Cash and other cash equivalents 10 17,652 9,179 Treasury 17,652 9,179

25,260 13,432

619,620 584,627

Notes 1 to 20 form an integral part of these condensed consolidated interim financial statements on 30 June 2026.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

CONDENSED CONSOLIDATED INTERIM BALANCE SHEET AT 30 JUNE 2026

(Thousand euros)

2

EQUITY AND LIABILITIES

Note On 30 June 2026 On 31

December

2025

EQUITY

Share capital 11 31,795 31,795 Reserves 264,676 258,957 Negative results from previous years 31,694 29,057 Profit (loss) for the period 17,753 8,369 Treasury shares 11 (1) -

Hedging reserve 15 (18) (84)

345,899 328,094

NON-CURRENT LIABILITIES

Bank loans and credits 10,12 223,296 220,264 Financial hedging derivatives 8, 13, 15 139 202 Other long-term financial liabilities 8 4,226 4,442

227,661 224,908

CURRENT LIABILITIES

Bank loans and credits 8, 12 33,636 19,142 Other short-term financial liabilities 8 145 464 Financial hedging derivatives 8, 13, 15 4 33 Trade and other payables 8, 12 11,732 11,830 Various creditors 8, 12 10,399 10,271 Personnel 8, 12 951 1,011 Other debts with Public Authorities 12, 14 382 548 Short-term accruals 8 543 156

46,060 31,625

619,620 584,627

Notes 1 to 20 form an integral part of the condensed consolidated interim financial statements on 30 June 2026.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

CONDENSED CONSOLIDATED INTERIM INCOME STATEMENT FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026

(Thousand euros)

3

Note Six-

month

period

ended on

30 June

2026 Six-

month

period

ended on

30 June

2025

Service revenue 13 16,062 14,974 Changes in fair value of investment properties 7 10,334 1,860 Personnel costs 13, 17 (1,197) (902) Other operating costs 13 (3,515) (4,790) Amortisation of intangible assets 5 (62) -

Depreciation of plant, property and equipment 6 (7) (6) Impairment and results from disposals of non-current assets 6 - (95)

OPERATING RESULTS 21,615 11,041

Financial income 335 288 Financial expenses 13 (4,197) (5,705)

FINANCIAL RESULT (3,862) (5,417)

PRE-TAX RESULT 17,753 5,624

Income tax 14 - -

PROFIT (LOSS) FOR THE PERIOD 13 17,753 5,624

Profit attributable to the parent company 17,753 5,609 Profit attributable to non-controlling interests - 15

Basic and diluted earnings per share 11 0.73 0.23

Notes 1 to 20 form an integral part of the condensed consolidated interim financial statements on 30 June 2026.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES TO EQUITY

FOR THE SIX-MONTH PERIOD ENDED ON 30 JUNE 2026

(Thousand euros)

4

Note Six-

month

period

ended on

30 June

2026 Six-

month

period

ended on

30 June

2025

Profit (loss) for the financial year 13 17,753 5,624

Other comprehensive income

Entries that may subsequently be reclassified to

results

66

(664)

Cash flow hedges, net of tax 9, 15 66 (664) Other comprehensive income for the period, net of tax 66

(664)

Total comprehensive income for the period

17,819

4,960

Profit attributable to the parent company 17,819 4,945 Profit attributable to non-controlling interests - 15

Notes 1 to 20 form an integral part of the condensed consolidated interim financial statements on 30 June 2026.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN EQUITY FOR THE SIX-MONTH PERIOD ENDED ON 30 JUNE 2026

(Thousand euros)

5

Capital

(Note

11) Share

Premium

(Note 11) Reserves Accumulated

earnings

(Note 11) Interim

dividend

Treasury

Shares

(Note 11) Hedging

Reserve

(Note 15) Non-

controlling

interests TOTAL

BALANCE ON 1 JANUARY 2025 24,351 202,590 51,789 41,401 (2,000) (40) 190 1.154 318,281

Profit /(loss) for the financial year - - - 5,624 - - - 15 5,624 Other comprehensive results for the financial year - - - - - - (664) - (664) Total comprehensive income for the financial year - - - 5,624 - - (664) 15 4,960 Capital increase 357 3,378 - - - - - - 3,735 Other movements - - 38,142 (40,692) 2,000 - - (445) (550) Others results in treasury shares (Note 11) - - - - - - - - -

BALANCE ON 30 JUNE 2025 24,708 205,968 89,931 5,624 - (40) (474) 724 326,426

BALANCE ON 1 JANUARY 2026 31,795 - 288,014 8,369 - - (84) - 328,094

Profit /(loss) for the financial year - - - 17,753 - - - - 17,753 Other comprehensive results for the financial year - - - - - - 66 - 66 Total comprehensive income for the financial year - - - 17,753 - - 66 - 17,819 Other movements - - 8,356 (8,369) - - - - (13) Other results in treasury shares (Note 11) - - - - - (1) - - (1)

BALANCE ON 30 JUNE 2026 31,795 - 296,370 17,753 - (1) (18) - 345,899

Notes 1 to 20 form an integral part of the condensed consolidated interim financial statements on 30 June 2026.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

CONDENSED CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026

(Thousand euros)

6

Note Six-month

period

ended on

30 June

2026 Six-month

period

ended on

30 June

2025

A) CASH -FLOW FROM OPERATING ACTIVITIES

Pre-tax result for the period 17,753 5,624 Adjustments to profit/loss (5,672) 3,631 Depreciation and amortisation 5,6 69 6 Financial income (335) (288) Financial expenses 4,197 5,678 Changes in fair value of investment properties 7 (10,334) (1,860) Impairment and results on disposal of non -current assets - 95 Other income and expenses 731 -

Changes in working capital (4,753) 1,775 Debtors and other receivables 9 (1,662) 789 Other current assets (3,313) -

Creditors and other payables 13 427 916 Other current and non-current assets and liabilities (205) 70 Other cash flows from operating activities (3,392) (3,364) Interest paid (3,536) (3,204) Interest received 144 (160) Cash-flow from operating activities 3,936 7,666

B) CASH-FLOW FROM INVESTMENT ACTIVITIES

Receipts and payments on investments (12,247) (7,322) Investment in Group companies - (1,099) Property, plant and equipment (55) -

Payments for i nvestment properties 7 (12,192) (31,736) Receipts from investment property 7 - 25,513 Cash-flow from investment activities (12,247) (7,322)

C) CASH-FLOW FROM FINANCING ACTIVITIES

Receivables and payments on equity instruments 3,366 Acquisition of treasury shares 11 - 3,735 Others charged - (369) Receivables and payments on financial liabilities 16,784 16,817 Payments on borrowings from Group and associated

companies 12

- (10,583)

Receipts from financial debt 13 33,486 27,432 Payments on financial debt 13 (16,702) (32) Payments for dividends and other equity instruments - (161) Cash-flow from financing activities 16,784 20,022

NET INCREASE/REDUCTION IN CASH AND CASH EQUIVALENTS 8,473 20,366

Cash and cash equivalents at beginning of period 9,179 13,170 Cash and cash equivalents at end of period 10 17,652 33,536

Notes 1 to 20 form an integral part of the condensed consolidated interim financial statements on 30 June 2026.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

7

1. GENERAL INFORMATION

Árima Real Estate SOCIMI, S.A. (hereinafter, the “Company” or the “dominant Company”) was incorporated in Spain on 13 June 2018 under the Spanish Capital Companies Act, going public on 23 October 2018. Its registered office was located at calle Serrano, 47 - 4th floor, 28001 Madrid and on 29 December 2025 the Board of Directors approved the relocation of the registered office to Calle del Pinar, 7 - 5th floor, 28006 Madrid.

Its corporate purpose is described in Article 2 of its articles of association and consists of:

 The acquisition and development of urban properties intended for lease.

 The ownership of interests in the share capital of other Spanish Real Estate Investment Trusts (Sociedad Anónima Cotizada de Inversión en el Mercado Inmobiliario , “SOCIMI”) or other companies that are not resident in Spain, that have the same corporate purpose, and that are governed by rules similar to those governing SOCIMIs as regards the compulsory, legal or statutory policy on profit distribution.

 The ownership of interests in the share capital of other companies that are both resident and non-resident in Spain, whose corporate purpose is the acquisition of urban properties for lease, and which are governed by the same rules that govern SOCIMIs as regards the compulsory, legal or statutory policy on profit distribution, and which meet the investment requirements set out in Article 3 of the Spanish SOCIMI Act.

 The ownership of shares or holdings in Collective Investment Institutions governed by Spanish Collective Investment Institutions Act 35 of 4 November 2003.

All activities that by law must meet special requirements that the Company does not meet are excluded.

The Company may also carry out, in whole or in part, the aforementioned business activities indirectly through shareholdings in another company or companies with a similar purpose.

During the six months period ended 30 June 2026, the corporate name of the dominant Company has not been modified.

On 3 November 2025, the Extraordinary General Meetings of Shareholders of JSS Real Estate SOCIMI, S.A. and Árima Real Estate SOCIMI, S.A. approved the reverse merger by absorption between the two entities, with Árima as the absorbing company and JSS SOCIMI as the absorbed company (Note 11).

The public deed relating to the merger was registered with the Commercial Registry on 14 November 2025.

The Parent Company and its subsidiaries are part of a Group. Shareholders holding an interest of more than 3% in the share capital are JSS Global Real Estate Fund Master Holding Company, S.A.R.L. and JS Immo Luxembourg, S.A.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

8

a) Regulatory regime

The Company is regulated under the Spanish Capital Companies Act.

In addition, on 27 September 2018 the Company informed the Tax Authorities that it wished to opt for application of the rules governing Spanish Real Estate Investment Trusts, and is therefore subject to Act 11 of 26 October 2009, with the amendments introduced by Act 16 of 27 December 2012 and others later, under which SOCIMIs are governed.

Article 3 of Act 11 of 26 October 2009 sets out certain requirements that must be met by this type of

company, namely:

i) They must have invested at least 80% of the value of their assets in urban properties intended for lease, or in land for the development of properties that are to be used for the same purpose, provided that development begins within three years following its acquisition, or in equity investments in other companies, as set out in Article 2 section 1 of the aforementioned Act.

ii) At least 80% of the income from the tax period corresponding to each year, excluding the income deriving from the transfer of ownership interests and real estate properties used by the Company to comply with its main corporate purpose, once the retention period referred to in the following paragraph has elapsed, must come from the lease of properties and from dividends or shares in profits associated with the aforementioned investments.

iii) The real estate properties that make up the Company’s assets must remain leased for at least three years. Calculation of this term will include the time that the properties have been offered for lease, up to a maximum of one year.

The First Transitional Provision of the SOCIMI Act allows for application of the SOCIMI tax rules under the terms set out in Article 8 of the SOCIMI Act, even when the requirements it contains are not met on the date of incorporation, on the condition that these requirements are met during the two years following the date on which it is decided to opt for application of the said tax rules. In this regard, the Directors of the Company consider that the necessary requirements have already met within the established terms and periods, and they have therefore not entered any income or expense in respect of Corporate Income Tax.

The individual annual accounts of Árima Real Estate SOCIMI, S.A. and the consolidated annual accounts of Árima Real Estate SOCIMI, S.A. and subsidiaries at 31 December 2025 were prepared at 26 February 2026 and were approved, without modifications, by the shareholders on 26 June 2026.

The figures contained in these consolidated interim summary financial statements are expressed in thousands of euros, unless otherwise indicated.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

9

b) Subsidiary companies

The parent company, Árima Real Estate SOCIMI, S.A., is the parent of a group of companies (hereinafter, “the Group”) comprising the parent company and the following subsidiaries as of 30 June 2026 and 31

December 2025:

30 June 2026:

Name Address Activity Share % Árima Investments, S.L. C. del Pinar 7, 5 th floor, 28006 Madrid Acquisition and development of urban properties intended for

lease 100

Las Tablas 40 Madrid, S.L.U. C. del Pinar 7, 5 th floor, 28006 Madrid Acquisition and development of urban properties intended for

lease 100

Ríos Rosas 24 Madrid, S.L.U. C. del Pinar 7, 5 th floor, 28006 Madrid Acquisition and development of urban properties intended for

lease 100

TC6 Madrid, S.L.U. C. del Pinar 7, 5 th floor, 28006 Madrid Acquisition and development of urban properties intended for

lease 100

31 December 2025:

Name Address Activity Share % Árima Investments, S.L. C. del Pinar 7, 5 th floor, 28006 Madrid Acquisition and development of urban properties intended for

lease 100

Las Tablas 40 Madrid, S.L.U. C. del Pinar 7, 5 th floor, 28006 Madrid Acquisition and development of urban properties intended for

lease 100

Ríos Rosas 24 Madrid, S.L.U. C. del Pinar 7, 5 th floor, 28006 Madrid Acquisition and development of urban properties intended for

lease 100

TC6 Madrid, S.L.U. C. del Pinar 7, 5 th floor, 28006 Madrid Acquisition and development of urban properties intended for

lease 100

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

10

The companies Las Tablas 40 Madrid, S.L.U., Ríos Rosas 24 Madrid, S.L.U. and TC6 Madrid, S.L.U. were incorporated into the Group as a result of the reverse merger between Árima Real Estate SOCIMI, S.A.

and JSS Real Estate SOCIMI, S.A.

The Group companies are not listed on any stock exchange and are audited annually as part of the audit of the Árima Group's Consolidated Financial Statements, except for Las Tablas 40 Madrid, S.L.U.

and TC6 Madrid, S.L.U., which are also audited on a standalone basis. The Group's Consolidated Financial Statements as of 31 December 2025 and the Consolidated Management Report for the 2025 financial year were audited by PricewaterhouseCoopers Auditores, S.L.

2. BASIS FOR THE PRESENTATION OF THE CONDENSED CONSOLIDATED INTERIM FINANCIAL

STATEMENTS

The main accounting policies adopted in the preparation of the condensed consolidated interim financial statements are described below. These policies have been applied uniformly for the period presented, unless otherwise indicated.

2.1 Basis for presentation These condensed consolidated interim financial statements for the six-month period ended on 30 June 2026 have been prepared in accordance with IAS 34, "Interim financial information", and therefore do not include all the information required by consolidated financial statements, completed in accordance with the International Financial Reporting Standards, adopted by the European Union, so that the accompanying interim financial statements must be read together with the consolidated annual accounts of the Group for the year ended on 31 December 2025, prepared in accordance with the International Financial Reporting Standards adopted by the European Union (IFRS-EU).

The preparation of these consolidated interim financial statements in accordance with the IFRS-EU requires the use of certain critical accounting estimates. It also requires the Management to exercise its judgment in the process of applying the Group's accounting policies. Note 2.4 discloses the areas that imply a higher degree of judgment or complexity or the areas where the hypotheses and estimates are significant for the consolidated condensed interim financial statements.

The Group's activity does not have a seasonal nature.

The accounting policies adopted by the Group in these condensed consolidated interim financial statements are consistent with those of the consolidated annual accounts for the 2025 fiscal year, except as described in Note 2.3.

These condensed consolidated interim financial statements have been developed and prepared by the Board of Directors on 17 September 2026. These condensed consolidated interim financial statements have been subject to a limited review but have not been audited.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

11

2.2 Comparative information

For clarification purposes, since on 3 November 2025 the Extraordinary General Shareholders’ Meetings of Árima Real Estate SOCIMI, S.A. and JSS Real Estate SOCIMI, S.A. approved the reverse merger between the two companies, with accounting effect from 1 January 2025, the condensed consolidated interim income statement, the condensed consolidated interim statement of comprehensive income, the condensed consolidated interim statement of changes in equity and the condensed consolidated interim statement of cash flows for the six-month period ended 30 June 2025 are presented taking into account the effective date of the merger. The condensed consolidated interim balance sheet is presented comparatively with the information for the year ended 31 December 2025.

2.3 Working Capital

As of 30 June 2026, the Group's working capital amounted to a negative 20,800 thousand euros (negative 18,193 thousand euros as of 31 December 2025), mainly due to payables arising from ongoing refurbishment works on assets not yet generating rental income, as well as the classification of bank borrowings as current according to their contractual maturities. The Group expects to meet its short-

term obligations through cash flows generated in the ordinary course of business, including potential asset disposals and available undrawn financing facilities of 16 million euros as of that date. As of the date of presentation of these Condensed Consolidated Interim Financial Statements, the Group had completed the disposal of two assets held in its portfolio as of 30 June 2026 (Note 20).

Accordingly, Management of the Parent Company have prepared these Condensed Consolidated Interim Financial Statements on a going concern basis.

2.4 New EU-IFRS standards, amendments, and IFRIC interpretations issued

Standards, amendments, and interpretations mandatory for all periods beginning on or after January 1, 2026:

- IFRS 9 and IFRS 7 (Amendment) –“Amendments to the Classification and Measurement of Financial Instruments”.

- IFRS 9 and IFRS 7 (Amendment) –“Contracts Referencing Nature-dependent Electricity”.

- Annual Improvements to IFRS Accounting Standards – Volume 11.

The application of these amendments and interpretations has not had a significant effect on these condensed consolidated interim financial statements.

Standards, amendments, and interpretations not yet effective, but available for early adoption:

- IFRS 18 –“Presentation and Disclosure in Financial Statements”.

As of the date of approval of these Condensed Consolidated Interim Financial Statements, the IASB and the IFRS Interpretations Committee had issued new International Financial Reporting Standards and interpretations or amendments thereto that were not yet mandatory as of 30 June 2026. Although, in certain cases, the IASB permits early application of such standards and amendments, the Group has not elected to adopt them early.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

12

The Group is currently assessing the potential impact arising from the future application of IFRS 18.

However, as of the date of approval of these Condensed Consolidated Interim Financial Statements, the Group does not expect its application to have a significant impact on its consolidated financial position or equity, other than possible changes in the presentation and disclosure of financial information.

Standards, amendments, and interpretations to existing standards that cannot be adopted early or have not been adopted by the European Union:

As of the date of these condensed consolidated interim financial statements, the IASB and the IFRS Interpretations Committee have issued the following standards, amendments, and interpretations that cannot be adopted early or are pending adoption by the European Union.

- IFRS 19 – “Subsidiaries without Public Accountability: Disclosures”.

- IFRS 19 (Amendment) – “Subsidiaries without Public Accountability: Disclosures”.

- IAS 21 (Amendment) – “Translation to a Hyperinflationary Presentation Currency”.

- IFRS 20 – “Regulatory Assets and Regulatory Liabilities”.

- IAS 28 – “Investments in Associates and Joint Ventures”.

If any of the above standards were adopted by the European Union or could be adopted early, the Group would apply them with the corresponding effects in its condensed consolidated interim financial statements.

The application of these amendments and interpretations will not have a significant impact on the Group’s financial statements.

2.5 Use of estimates

The preparation of these condensed consolidated interim financial statements requires Management to make judgements, estimates and assumptions that affect the application of accounting policies and the presented amounts of assets and liabilities, income and expenses. Actual results could differ from these estimates. In the preparation of these condensed consolidated interim financial statements, the important judgements made by the Management when applying the Group’s accounting policies and the key sources of uncertainty in the estimation have been the same as those applied in the consolidated annual accounts for the year ended on 31 December 2025.

3. FINANCIAL RISK MANAGEMENT

The Company’s activities are exposed to various financial risks: market risk (including interest rate risk), credit risk, liquidity risk, tax risk and other risks. The Company’s risk management programme focuses on uncertainty in financial markets and seeks to minimise any potential adverse impact on its financial profitability.

Risk management is overseen by the Company’s Finance Department, which identifies, evaluates and hedges financial risks in accordance with the policies approved by the Board of Directors of the dominant Company. The Board provides policies for overall risk management and policies covering specific areas such as interest rate risk, liquidity risk, the use of derivatives and non-derivatives and investing excess liquidity.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

13

3.1 Financial risk factors

a) Market risk

The Group's interest rate risk arises from the financial debt. Loans issued at variable rates expose the Group to interest rate risk of cash flows. During the six months ended June 30, 2026, the Group the Group has contracted a mortgage-backed financing agreement through a bilateral transaction with a leading financial institution for an amount of 18,000 thousand euros. The loans are remunerated at an interest rate referenced to EURIBOR plus a spread between 1.15% and 2.10%. As of 30 June 2026, the amount drawn down from these variable rates financial agreements amounts to 237,687 thousand euros in nominal terms (204,290 thousand euros on 31 December 2025).

The Group analyses exposure to interest rate risk dynamically. Several scenarios are simulated taking into account the alternatives of financing and coverage. Based on these scenarios, the Group calculates the impact on the result for a given change in the interest rate (scenarios are used only for liabilities that represent the most significant positions subject to interest rates).

These analyses take into account:

- Economic environment in which it carries out its activity: design of different economic scenarios modifying the key variables that may affect the group (interest rates, share price, percentage of occupancy of real estate investments, etc.).

- Identification of those interdependent variables and their level of linkage.

- Temporary framework in which the evaluation is being carried out: the time frame for the analysis and its possible deviations will be considered.

Based on the simulation carried out, the Group manages the cash flow interest rate risk through variable to fixed interest rate swap. These interest rate swaps have the economic effect of converting loans at variable interest rates into loans at fixed interest rates. Generally, the Group obtains foreign long-term resources with variable interest and exchanges them for a fixed interest rate lower than those that would be available if the Group had obtained the external resources directly at fixed interest rates. Under interest rate swaps, the Group undertakes with third parties to exchange, on a regular basis, the difference between the fixed interest and the variable interest based on the principal notionals contracted.

b) Credit risk

Credit risk is managed at the Group level. The Group defines the credit risk management and analysis policy of its new clients before proceeding to offer them the usual payment terms and conditions.

Credit risk originates, mainly from investment property rental, as well as from various debtors. The Group's risk control establishes the credit quality that the client must possess, taking into account its financial position, past experience and other factors. The Group considers that it does not have significant concentrations of credit risk, this being understood to refer to the possible impact that a default on receivables could have on the income statement.

The Group maintains its cash and other equivalent liquid assets in entities with the best credit quality.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

14

c) Liquidity risk

Cash flow predictions are carried out by the Group's Finance Department. This Department monitors forecasts of the Group's liquidity requirements to ensure that it has enough cash to meet its operational needs while maintaining sufficient available liquidity at all times to ensure that the Group continues to comply with its financing limits and covenants (Note 2.3).

d) Tax risk

As mentioned in Note 1, the Company is subject to the special tax regime of the rules governing Spanish Real Estate Investment Trusts (SOCIMIs). It is therefore subject to Act 6 of Law 11/2009 of 26 October 2009, with the amendments introduced by Law 16/2012 of 27 December 2012 and subsequent amendments, companies that have opted for this regime are obliged to distribute dividends to its shareholders, once the pertinent mercantile obligations have been fulfilled, the benefit obtained in the year, having to arrange their distribution within the six months following the end of each year and be paid within the month following the date of the agreement of distribution. Additionally, as detailed in the amendments incorporated in Law 11/2021 of 9 July 2021, the entity will be subject to a special tax of 15% on the amount of profits obtained in the year that is not subject to distribution.

In the event that the Shareholders' Meeting of such companies does not approve the distribution of dividends proposed by the Board of Directors, which would have been calculated in accordance with the requirements set forth in the aforementioned law, they would not be complying with it, and therefore they should be taxed under the general tax regime and not the one applicable to the SOCIMI.

3.2 Capital management

The main objectives of the Group's capital management are to ensure financial stability in the short and long term, the positive performance Árima Real Estate SOCIMI, S.A.’s share and the appropriate financing of investments. The financial leverage ratios, calculated as: (Financial debt / (Financial debt + Net equity)) as of 30 June 2026 and 31 December 2025 are as follows:

30.06.2026 31.12.2025

Financial debt 256,932 239,406 Equity 345,899 328,094 Leverage 42.62% 42.19%

The Board of Directors considers the Group’s level of indebtedness to be appropriate. On 30 June 2026, the leverage amounted to 42.62% (42.19% on 31 December 2025).

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

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3.3 Estimation of fair value

In accordance with IFRS 13, the hierarchical level at which an asset or liability is classified in its entirely (Level 1, Level 2 or Level 3) is determined based on the relevant input data used in the lowest valuation within the hierarchy of fair value. In case the input data used to measure the fair value of an asset or liability can be classified within the different levels, the fair value measurement is classified in its entirely at the same level of the fair value hierarchy as the data input level that is significant for the value measurement.

 Level 1: Quoted prices (unadjusted) in active markets for assets or liabilities identical to those that the entity can access on the date of valuation.

 Level 2: Distinguished data of quoted prices included in Level 1 that are observable for assets or liabilities, directly or indirectly through valuation techniques that use observable market data.

 Level 3: Input data not observable in the market for the asset or liability.

The above levels are specified in IFRS 13 Value Measurement. These valuations have a subjective component as they are made based on the valuer’s assumptions, which may not be accurate. For this reason, and in accordance with EPRA’s recommendations, we have classified the valuations of real estate investments at Level 3, as established in IFRS 13.

The following table shows the financial assets and financial liabilities of the Group valued at fair value:

30 June 2026

Thousand euros

Assets Level 1 Level 2 Level 3 Total Financial hedging instruments Financial hedging instruments (Note 15) - 262 - 262 Total assets - 262 - 262

Thousand euros

Liabilities Level 1 Level 2 Level 3 Total Financial hedging instruments Financial hedging instruments (Note 15) - 143 - 143 Total Liabilities - 143 - 143

31 December 2025

Thousand euros

Assets Level 1 Level 2 Level 3 Total Financial hedging instruments Financial hedging instruments (Note 15) - 315 - 315 Total Assets - 315 - 315

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

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16

Thousand euros

Liabilities Level 1 Level 2 Level 3 Total Financial hedging instruments Financial hedging instruments (Note 15) - 235 - 235 Total Liabilities - 235 - 235

As of June 30, 2026 and December 31, 2025, investment property is within level 3.

The fair value of interest rate swaps is calculated as the present value of estimated future cash flows based on estimated interest rate curves.

4. FINANCIAL INFORMATION BY SEGMENT

The Board of Directors of the dominant Company is the Group’s chief operating decision-making body.

The Management has defined the operating segments, based on the information reviewed by these bodies, to assign resources and evaluate the Group's performance. The management identifies three segments that must be reported: offices, logistics and corporate (Note 19.f). The office and logistics segments have distinct characteristics, making the separation relevant for a proper interpretation of the financial information. The corporate segment includes everything that is not attributable to the portfolio assets.

Income and expenses are directly attributable to each property based on their nature, accrual, and location, which makes them identifiable and allows for a clear association criterion. Properties are subsequently grouped into segments according to the activity carried out in each of them. Income and expenses that are not directly attributable to the properties are considered corporate income and expenses.

All assets are in the Community of Madrid; therefore, the segments are not broken down by geographic area.

30 June 2026 Thousand euros Offices Logistics Corporate Total Net amount of turnover 14,867 1,195 - 16,062 Changes in the estimated fair value of investment properties 11,785 (1,451) - 10,334 Operating costs (2,338) (407) (1,967) (4,712) Fixed assets amortization - - (69) (69) Operating Results 24,314 (663) (2,036) 21,615 Financial income 254 - 81 335 Financial expenses (4,000) (153) (44) (4,197) Financial Result (3,746) (153) 37 (3,862) Pre-tax result 20,568 (816) (1,999) 17,753 Income tax - - - -

Profit (loss) for the period 20,568 (816) (1,999) 17,753

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

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MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

17

100% of the income corresponds to transactions carried out in Spain in both the six months ended on 30 June 2026 and the six months ended on 30 June 2025.

The amounts that are provided to the Investment Committee and the Board of Directors in respect of the total assets and liabilities are valued in accordance with criteria that are uniform to those applied in the Condensed Consolidated Interim Financial Statements. These assets and liabilities are allocated on the basis of segment activities.

Assets and liabilities are directly attributable to each property based on their nature, accrual, and location, which makes them identifiable and allows for a clear association criterion. Properties are subsequently grouped into segments according to the activity carried out in each of them. On the other hand, assets and liabilities that are not directly attributable to the properties are considered corporate assets and liabilities.

30 June 2026 Office

Thousand euros

Offices Logistics Corporate Total

Non-current assets 565,104 28,793 463 594,360 Investments properties 555,704 28,500 - 584,204 Other non-current assets 9,400 293 463 10,156

Current assets 15,218 218 9,824 25,260

Non-current liabilities 226,995 355 311 227,661 Current liabilities 35,392 8,163 2,505 46,060

30 June 2025 Thousand euros Offices Logistics Corporate Total Net amount of turnover 14,305 669 - 14,974 Changes in the estimated fair value of investment properties 1,874 (14) - 1,860 Operating costs (3,574) (218) (1,900) (5,692) Fixed assets amortization - - (6) (6) Impairment and disposal results (95) - - (95) Operating Results 12,510 437 (1,906) 11,041 Financial income 271 - 17 288 Financial expenses (3,580) (192) (1,933) (5,705) Financial Result (3,309) (192) (1,916) (5,417) Pre-tax result 9,201 245 (3,822) 5,624 Income tax - - - -

Profit (loss) for the period 9,201 245 (3,822) 5,624

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

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MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

18

31 December 2025 Office Thousand euros Offices Logistics Corporate Total

Non-current assets 540,726 29,993 476 571,195 Investments properties 533,846 29,700 - 563,546 Other non-current assets 6,880 293 476 7,649

Current assets 9,240 522 3,670 13,432

Non-current liabilities 216,089 8,000 819 224,908 Current liabilities 28,452 379 2,794 31,625

5. INTANGIBLE ASSETS

The Group has entered into lease agreements as a lessee. The underlying assets to which these agreements relate are as follows:

- Buildings

As of 30 June 2026 and 31 December 2025, the right-of-use assets included under the Buildings heading relate to office premises leased for the purpose of carrying out the Group's operations.

The property lease agreements expose the Group to a certain degree of variability, as, in addition to fixed minimum payments, they include variable lease payments primarily linked to the Consumer Price Index (CPI).

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

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The following table contains a detail of the entries shown for “Intangible assets” and the relevant

movements:

Thousand euros

Lease right-of-use

assets

Balance on 1 January 2025 -

Cost -

Accumulated depreciation -

Accumulated impairment -

Net book value -

Added 373

Disposals -

Allocation to depreciation -

Balance on 31 December 2025 373

Cost 373

Net book value 373

Added -

Allocation to depreciation (62) Balance on 30 June 2026 311

Cost 373

Accumulated depreciation (62) Net book value 311

Thousand euros

Lease liabilities

Balance on 1 January 2025 -

Added 373

Disposals -

Balance on 31 December 2025 373

Added 373

Disposals (62)

Balance on 30 June 2026 311

The fair value of lease liabilities is similar to their carrying amount.

No significant variable lease payments have been identified in the Group's lease agreements. The Group has not provided any residual value guarantees under its lease contracts, nor does it have any obligations relating to the restoration or dismantling of right-of-use assets.

The Group is not exposed to significant potential future cash outflows arising from extension or renewal options that are not reflected in the measurement of the lease liability.

a) Losses due to impairment

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

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20

During the six-month periods ended 30 June 2026, no impairment losses were recognised on intangible assets.

Similarly, no impairment losses or reversals were recognised on intangible assets during the first half of the 2025 financial year.

b) Fully depreciated property, plant and equipment

No item from property, plant and equipment had been fully depreciated on 30 June 2026 neither on 31 December 2025.

6. PROPERTY, PLANT AND EQUIPMENT

The following table contains a detail of the entries shown for “Property, plant and equipment” and the

relevant movements:

Thousand euros

Furniture, IT

equipment and other fixtures and fittings Balance on 1 January 2025 43

Cost 301

Accumulated depreciation (196) Accumulated impairment (62) Net book value 43

Added 3

Allocation to depretiation (13) Balance on 31 December 2025 33

Cost 189

Accumulated depreciation (124) Accumulated impairment (32) Net book value 33

Additions 55

Allocation to depreciation (7) Balance on 30 June 2026 81

Cost 244

Accumulated depreciation (131) Accumulated impairment (32) Net book value 81

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

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21

a) Losses due to impairment

During the six-month period ended 30 June 2026, no impairment losses or reversals were recognised on any items of property, plant and equipment. Likewise, no impairment was recognised during the six-month period ended 30 June 2025.

b) Fully depreciated property, plant and equipment

No property, plant and equipment has been fully depreciated on 30 June 2026 neither on 31 December 2025.

7. INVESTMENT PROPERTIES

Investment properties include office buildings and other items owned by the Company that are held to obtain long-term rental income and are not occupied by the Company.

The following table contains a detail of the entries shown for investment properties and the movements in these figures:

Thousand euros

Investment

properties

Balance on 1 January 2025 580,840

Acquisitions 13,478

Withdrawals (71,200)

Subsequent capitalized disbursements 38,436 Gains/(loss) net of adjustments at fair value 1,992 Balance on 31 December 2025 563,546 Subsequent capitalized disbursements 10,324 Gains/(loss) net of adjustments at fair value 10,334 Balance on 30 June 2026 584,204

During the six-month period ended 30 June 2026, no acquisitions or disposals of investment property were carried out.

During the financial year 2025, the Group has made an additional disbursement of 13,478 thousand for the acquisition of an office building. This asset, located in the M30–A2 urban business corridor, has a surface area of 11,600 m² and 167 parking spaces. Additionally, costs amounting to €38,436 thousand were incurred during fiscal year 2025 in connection with refurbishment and improvement projects, framed within the corporate value-creation strategy.

Likewise, during the financial year 2025, the Group completed the sale of: (i) an office building located at the intersection of Paseo de la Habana and Avenida de Alfonso XIII, in Madrid, for an amount of 46,000 thousand euros (excluding selling costs); and (ii) an office building located at 24 Ríos Rosas Street for an amount of 25,511 thousand (excluding selling costs). As a result of these transactions, the Group recognized a negative gain on disposal of 755 thousand euros in the income statement.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

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MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

22

On 30 June 2026 no new mortgage guarantees have been constituted on properties. As of December 31, 2025, the Group has established a new mortgage guarantee on the property located at Avenida de Manoteras, 28 (Note 12).

a) Income and expenses on investment properties

The following income and expenses on investment properties have been detailed in the income

statement:

Thousand euros

Six-month

period ended on 30 June 2026 Six-month

period ended

on 30 June

2025

Rental Income (Note 13) 15,921 14,973 Operating expenses resulting from investment properties that generate rental income (2,193) (3,435) Operating expenses resulting from investment properties that do not generate rental income (560) (357)

13,168 11,181

b) Operating leases

The total amount of future minimum receivables from non-cancellable operating leases is as follows:

Thousand euros

30 June 2026 30 June 2025 Less than one year 27,885 26,643 Between one and five years 97,244 95,282 More than five years 17,543 10,649

142,672 132,574

c) Insurances

The Company signs all the insurance policies necessary to cover any possible risk that might affect any aspect of its investment properties. The coverage in these policies is deemed to be sufficient.

d) Liabilities

As of the end of the period, the Group has no contractual obligations for the acquisition, construction, or development of investment properties, or for repairs, maintenance, or insurance, beyond those already disclosed in the note, except for contracts related to rehabilitation and improvement projects.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

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e) Valuation process

The following is the cost and fair value of the real estate investments as of 30 June 2026 and 31

December 2025:

Thousand euros

30 June 2026 31 December 2025

Net book

value Fair value

Net book

value Fair value Investment properties 526,791 584,204 519,253 563,546

The valuations of these real estate assets have been carried out using "market value" hypothesis, and done in accordance with the statements Professional Standards of assessment by the Royal Institution of Chartered Surveyors of January 2025 – ‘Red Book’. The “market value” of the Group’s properties has been determined on the basis of the evaluation carried out by independent expert valuers (CBRE Valuation Advisory, S.A. and Savills Valoraciones y Tasaciones S.A.U).

The "Market Value" is defined as the estimated amount for which an asset should be able to be exchanged at the valuation date, between a willing seller and a willing buyer, after a reasonable sales trading period, and in which both parties have acted with knowledge, prudence and without any coercion.

The valuation methodology adopted by the independent appraisers in relation to determinate fair value was basically the 10-year discount cash flow method and the income capitalization method (reflecting net income, capitalized expenses, etc.), besides comparing the information with comparables. The residual amount at the end of year 10 is calculated by applying a rate of return (Exit yield or cap rate) of the projections of net income for year 11. Cash flows are discounted at an internal rate of return to reach the current net value. This internal rate of return is adjusted to reflect the risk associated with the investment and the assumptions adopted. The key variables are, therefore, the income and the exit yield.

The estimated yields depend on the type and age of the properties and their location. The properties have been valued individually, considering each one of the lease agreements in force at the end of the year and, if applicable, the foreseeable ones, based on the current market rents for the different areas, supported by comparables and transactions carried out for the calculations.

The directors requested a valuation as at 30 June 2026 of all investment property. Derived from this valuation, a positive variation in the fair value of the investment properties has been recorded in the consolidated summary interim income statement of 10,334 thousand euros (1,992 thousand euros on 31 December 2025).

Based on the simulations performed on these valuations, the recalculated impact on the fair value of the properties in the portfolio at 30 June 2026 of a variation of 0.25% in the exit yield rate, would

produce:

- in the case that the yield was reduced by 0.25%, the market value of these properties would be 601,644 thousand euros.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

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MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

24

- in the case that the yield was increased by 0.25%, the market value of these properties would be 568,744 thousand euros.

The effect of a variation of 10% on the income increases considered in the valuations of these assets has the following impacts on the consolidated asset and, by difference with the fair value of the asset, on the summarized interim consolidated income statement, with regarding real estate investments:

- in the case that the market rents increased by 10%, the market value of these properties would be 622,294 thousand euros.

- in the case that the market rents were reduced by 10%, the market value of these properties would be 546,412 thousand euros.

As of 31 December 2025, the following simulations were carried out, in yields and market income increases, on the valuations of the same, as well as the recalculated impact on the fair value of properties acquired from a variation of 0.25% in the exit yield rate of return, would produce:

- in the case that the yield was reduced by 0.25%, the market value of these properties would be 580,301 thousand euros.

- in the case that the yield was increased by 0.25%, the market value of these properties would be 548,468 thousand euros.

The effect of a variation of 10% on the income increases considered in the valuations of these assets has the following impacts on consolidated assets with respect to real estate investments,

- in the case that the market rents increased by 10%, the real estate investments would amount to 528,716 thousand euros.

- in the case that market rents were reduced by 10%, real estate investments would amount to 599,331 thousand euros.

On the other hand, as of 31 December 2025, the effect of a 0.25% variation in the required rate of return (hereinafter, the “IRR”) on consolidated assets and on the consolidated statement of income, with respect to investment property, would be as follows:

- if the IRR was reduced by 0.25%, the market value of such real estate would be 596,613 thousand euros as of June 30, 2026 (574,094 thousand euros as of December 31, 2025).

- If the IRR were to increase by 0.25%, the market value of these properties would be 577,162 thousand euros as of June 30, 2026 (553,280 thousand euros as of December 31, 2025).

As of 30 June 2026, the exit yields used in the valuations of offices located in the prime area would be 4.90% and for those that are decentralized the yields would be between 4.75 % and 7.25 % (between 4.90% for the prime area and between 5.25% and 7.25% for decentralised in December 2025). The discount rates used would be between 7.00% and 9.25% (6.75% and 9,00% respectively in December 2025).

As of 30 June 2026, the exit yields used in the logistic valuations would be 5.60% (5.50% in December 2025). The discount rate used would be around 8.00% (7.75% in December 2025).

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

25

The valuation of real estate investments has been framed within level 3 according to the definition described in Note 3.3 above. In this sense, the fair value of the investment properties has been done by independent valuation experts using valuation techniques.

8. FINANCIAL INSTRUMENTS ANALYSIS

a) Analysis by category

The book value of each of the categories of financial instruments, excluding cash and cash equivalents, is as follows:

Thousand euros

Non-current financial assets

Equity instruments Debt securities Credits, derivatives and

others

30.06.2026 31.12.2025 30.06.2026 31.12.2025 30.06.2026 31.12.2025 Financial assets at amortized cost - - - - 798 265 Financial assets at cost - - - - 8,704 6,827 Financial assets at fair value with changes in equity - - - - 262 151

Total long-term

financial assets - - - - 9,764 7,243

Thousand euros

Current financial assets Equity instruments Debt securities Credits, derivatives

and others

30.06.2026 31.12.2025 30.06.2026 31.12.2025 30.06.2026 31.12.2025 Financial assets at amortized cost - - - - 3,209 1,698 Financial assets at cost - - - - 3,890 2,228 Financial assets at fair value with changes in equity - - - - - 164 Total short-term financial assets - - - - 7,099 4,090

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

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Thousand euros

Non-current financial liabilities Debts with credit entities Bonds and other Derivatives and others

negotiable securities

30.06.2026 31.12.2025 30.06.2026 31.12.2025 30.06.2026 31.12.2025

Financial

liabilities at

amortized cost 223,296 220,264 - - 4,226 4,442

Financial

liabilities at fair

value with

changes in

equity - - - - 139 202

Total long-term

financial

liabilities 223,296 220,264 - - 4,365 4,644

Thousand euros

Current financial liabilities

Financial hedging

Debts with credit Debentures and other instruments and other entities marketable securities liabilities 30.06.2026 31.12.2025 30.06.2026 31.12.2025 30.06.2026 31.12.2025

Financial liabilities

at amortized cost 33,636 19,142 - - 12,038 11,902

Financial liabilities

at fair value with changes in equity - - - - 4 33

Total current

financial

liabilities 33,636 19,142 - - 12,042 11,935

b) Analysis by maturity date

On 30 June 2026 and 31 December 2025, the value of financial instruments with a specific maturity date or with a maturity date falling within a specific year was as follows:

On 30 June 2026

Thousand euros

Financial assets

2027 2028 2029 2030 2031 Subsequent

years Total

Financial assets at

amortized cost:

- Trade debtors 3,890 - - - - - 3,890

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

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27

- Credits to third parties 815 - - - - - 815

- Other financial assets 2,795 2,345 1,126 3,670 243 2,118 12,297 Financial assets at fair value with changes in

equity:

- Derivatives - - 134 - 128 - 262 7,500 2,345 1,260 3,670 371 2,118 17,264

Thousand euros

Financial liabilities

2027 2028 2029 2030 2031 Subsequent

years Total

Financial liabilities at

amortized cost:

- Debts with credit entities 33,696 1,507 76,770 82,714 19,506 45,469 259,662

- Accruals and other accounts payable 11,350 - - - - - 11,350

- Other financial liabilities 688 1,590 - 2,636 - - 4,914 Financial liabilities at fair value with changes

in equity:

- Hedge derivatives 4 - 58 - 81 - 143 45,738 3,097 76,828 85,350 19,587 45,469 276,069

On 31 December 2025

Thousand euros

Financial assets

2026 2027 2028 2029 2030 Subsequent

years Total

Financial assets at

amortized cost:

- Trade debtors 2,228 - - - - - 2,228

- Credits to third parties 795 - - - - - 795

- Other financial assets 903 1,975 713 682 3,267 455 7,995 Financial assets at fair value with changes in

equity:

- Derivatives 164 - - 11 - 140 315 4,090 1,975 713 693 3,267 595 11,333

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

28

Thousand euros

Financial liabilities

2026 2027 2028 2029 2030 Subsequent

years Total

Financial liabilities at

amortized cost:

- Debts with credit entities 18,548 31,433 16,322 124,233 19,352 31,716 241,604

- Accruals and other accounts payable 11,282 - - - - - 11,282

- Other financial liabilities 620 1,335 225 - 2,647 235 5,062 Financial liabilities at fair value with changes in equity:

- Hedge derivatives 33 - - 202 - - 235 30,483 32,768 16,547 124,435 21,999 31,951 258,183

The debts shown in the previous details are expressed at their nominal value.

9. FINANCIAL ASSETS AT AMORTIZED COST AND FINANCIAL DERIVATIVES

The breakdown of financial assets measured at amortized cost and financial derivatives as of 30 June 2026 and 31 December 2025 is as follows:

Thousand euros

On 30

June

2026 On 31

December

2025

Non-Current financial investments: 9,764 7,243

- Other long-term financial assets 8,704 6,827

- Derivative financial instruments (Note 15) 262 151

- Prepayments and accrued income 798 265

Trade receivables and other accounts receivables: 3,890 2,228

- Trade receivables for sales and services 2,842 1,991

- Other accounts receivable 1,048 237

Current financial investments: 3,610 1,862

- Other short-term financial assets 401 -

- Derivative financial instruments (Note 15) - 164

- Prepayments and accrued income 2,394 903

- Investments in related companies (Note 18) 815 795

17,264 11,333

In relation with the financing of real estate investments, the Group enters into interest rate hedging transactions with the aim of reducing the risk arising from fluctuations in interest rates. The amount

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

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29

recognised under the headings “Derivative financial instruments”, both non-current and current, corresponds to the valuations of a portion of these derivative financial instruments as of 30 June 2026 and 31 December 2025, with the remaining portion recognised as liabilities (Note 15). Likewise, there is one embedded interest rate hedge transactions associated with the financing of certain assets. The effective portion of changes in the fair value of derivatives that are designated and qualify as hedging instruments is recognized in the hedging reserve within the Group’s equity.

The amounts recorded under “Other Long-Term Financial Assets” relate mainly to the amounts pending accrual of the straight-line deficiencies maturing in more than 12 months, amounting to 4,793 thousand euros (2,871 thousand euros at 31 December 2025). Additionally, the amount of the guarantees associated with the lease contracts deposited with the corresponding public bodies is recorded, amounting to 3,715 thousand euros at 30 June 2026 (3,678 thousand euros at 31 December 2025) and other long-term assets.

The carrying amount of loans and receivables approximates their fair value, as the effect of discounting is not significant.

Under the heading of Trade receivables there is an amount of 2,842 thousand euros relating to invoices pending issuance (1,991 thousand euros on 31 December 2025) because of the linearization of rental income. The book value of loans and receivables is denominated in euros.

The heading investments in related companies includes a loan granted to a Group company in the amount of 815 thousand euros as of 30 June 2026 (795 thousand euros on 31 December 2025).

The short-term and long-term prepayments and accrued income headings comprise prepaid expenses.

10. CASH AND CASH EQUIVALENTS

The breakdown of cash and cash equivalents as of 30 June 2026 and 31 December 2025 is as follows:

Thousand euros

On 30 June 2026 On 31 December 2025 Cash and banks 17,652 9,179

17,652 9,179

The current accounts accrue market interest rates and are denominated in euros.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

30

11. SHARE CAPITAL, SHARE PREMIUM, TREASURY SHARES AND EARNINGS BY SHARE.

a) Share capital and share premium

As of 30 June 2026, and 31 December 2025 the breakdown of share capital is as follows:

Thousand euros

On 30 June 2026 On 31 December 2025 Share capital 31,795 31,795

31,795 31,795

All the dominant company’s shares are listed on the Spanish Stock Market.

On 16 May 2024, the takeover bid launched by JSS Real Estate SOCIMI, S.A. for all the shares representing the share capital of the Parent Company was published in the CNMV. Subsequently, on 21 June 2024, the CNMV reported that it had accepted the application for authorization of the takeover bid submitted by this company. JSS Real Estate SOCIMI, S.A. is a Spanish company which at that time was 97.59% owned by JSS Global Real Estate Fund Master Holding Company, S. à. r. l., a Luxembourg company.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

31

The terms of the offer, including the consideration, were identical for all Árima shares to which it was addressed. The consideration offered by JSS Real Estate SOCIMI, S.A. to the shareholders of the Parent Company was 8,61 euros in cash per share. The offer was subject to (i) acceptance orders comprising 50% plus one share of Árima's share capital - discounting treasury stock, and (ii) the general shareholders' meeting of JSS Real Estate SOCIMI, S.A. authorizing the offer, the latter condition being met on June 28, 2024. The Parent Company of the Group undertook not to accept the offer with respect to 2,446,435 shares (representing 8.605% of the capital) that it held in treasury stock and to propose to the Shareholders' Meeting their redemption prior to the settlement of the offer.

Accordingly, once such cancellation had been formalized, the offer was addressed to all the remaining shares in circulation, namely 25,982,941 shares, representing 91.395% of the share capital at that time.

On 20 June 2024, the General Shareholders’ Meeting approved such capital reduction. On 25 September 2024, the cancellation of the treasury shares was registered with the Madrid Commercial Registry, resulting in a reduction of the share capital by EUR 24,464,350. On 6 November 2024, the CNMV published the results of the acceptance of the public tender offer.

On November 3, 2025, the Extraordinary General Shareholders’ Meetings of both companies, Árima Real Estate SOCIMI, S.A. and JSS Real Estate SOCIMI, S.A., approved the reverse merger by absorption between Árima (as the absorbing company) and JSS SOCIMI (as the absorbed company). This entails the dissolution (without liquidation) and termination of JSS SOCIMI, which transfers all its assets and liabilities en bloc to Árima, with the latter acquiring, by universal succession, all rights and obligations of JSS SOCIMI, in accordance with the common draft terms of merger prepared and executed by the boards of directors of Árima and JSS SOCIMI on June 27, 2025. The public deed relating to the Merger was registered with the Commercial Registry on November 14, 2025.

As a result of the Merger, the shareholders of JSS Real Estate SOCIMI, S.A. received Árima shares in exchange, under the terms set out in the Merger Plan and the Merger Resolution. To this end, the Extraordinary General Shareholders’ Meeting of Árima held on the aforementioned date approved, in accordance with the provisions of the Common Draft Terms of Merger, a share capital increase to service said exchange, all with accounting effect from January 1, 2025. Specifically, Árima has delivered to the shareholders of JSS SOCIMI, for each of the JSS SOCIMI shares they held, each with a nominal value of €1.00, the following Árima shares, all with a nominal value of €10.00 each: (i) 25,912,276 existing ordinary shares of Árima owned by JSS SOCIMI; (ii) 26,971 existing ordinary shares held by Árima as treasury shares; and (iii) 5,811,824 newly issued ordinary shares of Árima, of the same class and series as the existing ones.

Furthermore, on December 29, 2025, the Company’s Extraordinary General Shareholders’ Meeting approved a share capital reduction in the amount of €286,153 thousand in order to offset negative results from prior years amounting to €24,437 thousand, to allocate €3,179 thousand to the legal reserve, and to allocate €258,537 thousand to a voluntary reserve. Immediately thereafter, the aforementioned General Shareholders’ Meeting approved grouping and cancelling the shares into which the Company’s share capital is divided, for their exchange into newly issued shares (reverse split) at a ratio of 10 new shares for every 13 pre-existing shares, increasing the nominal value of each share from €1.00 to €1.30. Prior to the reverse split, the General Shareholders’ Meeting approved a technical capital reduction in the amount of €2.00 through the retirement of 2 treasury shares, each with a nominal value of €1.00, in order to allow for the adjustment of the total number of shares so that the reverse split could be carried out, ensuring that the total number of pre-existing shares to be grouped would be a multiple of the exchange ratio, that is, 13.

Therefore, as of June 30, 2026, the Company’s share capital amounts to €31,795 thousand, represented

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

32

by 24,457,510 shares with a nominal value of €1.30 each, all belonging to the same class and fully subscribed and paid up (see Note 20 on events after the reporting date). As of December 31, 2025, the Company’s share capital amounted to €31,795 thousand, represented by 24,457,510 shares with a nominal value of €1.30 each. All shares carry the same political and economic rights.

On 30 June 2026, the companies that held a share of 3% or more in the share capital are as follows:

Entity % voting

rights

allocated to

shares % voting

rights held

through

financial

instruments Total % JSS Global Real Estate Fund Master Holding Company S.A.R.L. 51,005 - 51,005 JS Immo Luxembourg, S.A. 46,496 - 46,496 Total 97,501 - 97,501

On 31 December 2025, the companies that held a share of 3% or more in the share capital were as

follows:

Entity % voting

rights

allocated to

shares % voting

rights held

through

financial

instruments Total % JSS Global Real Estate Fund Master Holding Company S.A.R.L. 51,005 - 51,005 JS Immo Luxembourg, S.A. 46,496 - 46,496 Total 97,501 - 97,501

b) Treasury shares

Movements in treasury shares over the period have been as follows:

On 30 June 2026 On 31 December 2025

Number of

treasury

shares Thousand euros Number of

treasury

shares Thousand euros At the beginning of the period 12 - 26,971 237 Additions/purchases 111 1 12 -

Reductions (5) - (26,971) (237) Amortized - - - -

At the end of the period 118 1 12 -

At 30 June 2026 the Group holds 118 treasury shares (12 treasury shares at 31 December 2025). These shares were recorded as a reduction of the parent company's equity at 30 June 2026 in the amount of 1,000 euros (0.00 euros at 31 December 2025).

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

33

The Parent Company has complied with the obligations deriving from article 509 of the Capital Companies Act, which establishes, in relation to shares listed on an official secondary market, that the par value of the shares acquired, added to those already held by the Parent Company and its subsidiaries, must not exceed 10% of the share capital. Subsidiary companies do not hold either their own shares or those of the parent company.

c) Profit (losses) per share

Basic earnings per share are calculated by dividing the net gain/(loss) for the period attributable to the owners of the dominant Company by the weighted average number of ordinary shares outstanding during the period, excluding the weighted average number of treasury shares held as throughout the period.

Diluted earnings per share are calculated by dividing the net gain/(loss) for the period attributable to the owners of the dominant Company by the weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would be issued in the conversion of all potentially dilutive instruments.

The following breakdown reflects the income and information of the number of shares used to calculate basic and diluted earnings per share:

Basic and diluted earnings per share

On 30 June 2026 On 30 June

2025

Net income (thousand euros) 17,753 5,624 Weighted average number of issued shares (shares) 24,457,510 24,485,848 Weighted average number of common shares (shares) 24,457,423 24,481,538 Basic earnings per share (euros) 0,73 0,23 Diluted earnings per share (euros) 0,73 0,23

In relation to the calculation of earnings per share, there have been no transactions on ordinary shares or ordinary potential shares between the closing date of the condensed consolidated interim financial statements and the preparation thereof, which have not been considered in the calculations for the period between 1 January 2026 and 30 June 2026.

12. FINANCIAL LIABILITIES AT AMORTIZED COST AND FINANCIAL DERIVATIVES

The breakdown of financial liabilities measured at amortised cost as of 30 June 2026 and 31 December 2025 is as follows:

Thousand euros

On 30

June 2026 On 31

December 2025

Debts and non-current liabilities:

- Debts with credit entities 223,296 220,264

- Financial hedging derivatives (Note 15) 139 202

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

34

- Other non -current financial liabilities 4,226 4,442

227,661 224,908

Debts and current liabilities:

- Debts with credit entities 33,636 19,142

- Other payables (Note 8) 10,399 10,271

- Accrued remuneration payable 951 1,011

- Other short-term financial liabilities 145 464

- Derivative financial instruments (Note 15) 4 33

- Prepayments and accrued income 543 156

45,678 31,077

The book amounts of debts and payables approximate their fair values, since the effect of discounting is not significant.

The book value of loans and receivables to be paid by the Company is denominated in euros.

During the six-month period ended 30 June 2026, the change in bank borrowings was mainly due to:

(i) the maturity of mortgage financing with an outstanding balance of EUR 16,702 thousand at the repayment date; (ii) the arrangement of mortgage financing through a bilateral transaction with a reputable financial institution amounting to EUR 18,000 thousand; and (iii) the drawdown of EUR 15,485 thousand associated with the financing of projects under development.

During the six-month period ended 30 June 2025, an amendment to a mortgage-backed financing agreement was signed, under which a new tranche of 18,000 thousand euros was granted. During 2025, an amendment and restatement of a mortgage-backed financing agreement was executed, in connection with which a new tranche of EUR 18,800 thousand was granted. Furthermore, during the year, the Group entered into a mortgage-backed financing transaction with a reputable financial institution for an amount of 27.4 million euros at a variable interest rate (Note 7).

As of 30 June 2026, and 31 December 2025, 100% of the financing obtained by the Company has been classified as ‘green’ by financial institutions, given the sustainable characteristics of the financed real estate properties, fulfilling the objective set by the Group in this regard. Non-compliance with the conditions for the sustainable rating of financing could have an impact on the interest rate of an increase of up to 0.15%.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

35

The long-term debt of the Group is recorded at amortized cost in the long-term liabilities under the heading “Debts with credit entities”. On 30 June 2026, the amount of the amortized cost is 2,074 thousand euros (on 31 December 2025 it amounted 2,821 thousand euros). Their nominal maturities have been included in Note 8. The real estate assets that guarantee the loans, through mortgage commitment, have a market value on 30 June 2026 of 568,033 thousand euros (on 31 December 2025 it amounted 547,412 thousand euros).

Under the heading "Short-term debt with credit entities", on 30 June 2026, the amount of unpaid accrued interest and principal repayments is, respectively, 1,274 thousand euros and 32,362 thousand euros (622 thousand euros and 18,520 thousand euros, respectively, on 31 December 2025).

These loans are subject to compliance with certain financial ratios, which are common in the sector in which the Group operates and are calculated annually at the end of the year.

The “Other non-current liabilities” caption in the consolidated balance sheet includes security deposits provided by tenants of properties recognised as investment property (Note 7), as well as future minimum payments under non-cancellable operating leases (Note 5).

13. INCOME AND EXPENSES

a) Net turnover figure

The net turnover figure corresponding to the Company’s ordinary business activities broke down in geographical terms as follows:

Six-month

period ended on 30 June 2026 Six-month period ended on 30 June 2025 Market Percentage Thousand euros National 100% 16,062 14,974 100% 16,062 14,974

The net turnover figure breaks down as follows:

Thousand euros

Six-month

period ended on 30 June 2026 Six-month period ended on 30 June 2025

Revenue

Rents 14,094 13,408 Reinvoicing of costs 1,827 1,565 Other operating income 141 1

16,062 14,974

The lease agreements signed by the Group companies are in normal market conditions in terms of their duration, early maturity dates and rent.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

36

b) Personnel costs

Thousand euros

Six-month period

ended on 30 June 2026 Six-month period ended on 30 June

2025

Wages, salaries and associated costs (1,107) (829)

Welfare charges:

- Other welfare charges (90) (73)

(1,197) (902)

Under personnel expenses, there has been recorded the remuneration to the parent Company’s team, both fixed and prospective.

There has been no compensation for dismissals on 30 June 2026 neither 2025.

Under the heading of wages, salaries and associated costs, a bonus expense accrual of 350 thousand euros as of 30 June 2026 is recorded (238 thousand euros as of 30 June 2025).

The average number of employees in the different companies that comprise the Group during the six-

month period ended on 30 June 2026 and 30 June 2025 is 8 people.

The composition of the average number of employees on 30 June 2026 and 2025 by category is as

follows:

Categories 30 June 2026 30 June 2025 Management 6 6 Employees with degrees 1 1 Administrative personnel and others 1 1 8 8

The gender distribution on 30 June 2026 is as follows:

30 June 2026 Categories Men Women Total Management 5 1 6 Employees with degrees - 2 2 Administrative personnel and others 1 - 1 6 3 9

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

37

On 30 June 2025, Company personnel detail by gender was as follows:

30 June 2025 Categories Men Women Total Management 3 - 3 Employees with degrees 2 2 4 Administrative personnel and others - 1 1 5 3 8

c) External services

The following table gives a breakdown of the external services:

Thousand euros

Six-month

period ended on 30 June 2026 Six-month period ended on 30 June 2025 External services directly attributable to real estate assets (2,746) (3,794) Other external services (769) (996)

(3,515) (4,790)

d) Financial expenses

As of 30 June 2026, and 31 December 2025, finance income and costs were associated with the financing obtained (Note 12), comprising, on the one hand, interest expense and, on the other hand, income arising from interest rate hedging transactions (Note 15).

14. INCOME TAX AND TAX POSITION

The expense for income tax is recognized based on Management's estimate of the expected weighted average tax rate for the entire financial year. The estimated annual average tax rate for the six-month period ended at 30 June 2026 is 0%, according to Act 11/2009, of October 26, and the amendments incorporated to it by Act 16/2012, of December 27, and by Act 11/2021, of June 30, by which the SOCIMIs are regulated.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

38

Tax inspections

Under current law, taxes cannot be understood to have been effectively settled until the tax authorities have reviewed the tax returns submitted or until the four-year prescription period has elapsed.

As a result, among other things, of the different interpretations to which Spanish tax legislation lends itself, additional tax assessments may be raised in the event of a tax inspection. In any case, the Directors believe that any such liabilities, if they arise, will not have any significant effect on the balance sheet or the income statement for the six-month period ended on 30 June 2026.

On 30 June 2026 and 31 December 2025, the amounts receivable and the amounts payable by the Company in respect of the Public Authorities broke down as follows:

Thousand euros

On 30 June 2026 On 31 December 2025

Accounts receivable

Tax Authorities, receivable for VAT 108 163

108 163

Payment commitments

Tax Authorities, payable for withholdings made (365) (534) Social Security agencies, payables (17) (14)

(382) (548)

15. FINANCIAL HEDGING DERIVATIVES

As of 30 June 2026 and 31 December 2025, the breakdown of derivative financial instruments is as

follows:

Thousand euros

30 June 2026

Non-current Current

Covered

principal Maturity Asset Liability Asset Liability

Interest rate

swap 18,000 2031 - 81 - -

Interest rate

swap 16,150 2031 128 - - -

Interest rate

swap 22,376 2029 - 58 - -

Interest rate

swap 46,500 2029 97 - - -

Interest rate

cap 39,500 2029 37 - - -

Interest rate

swap 7,000 2026 - - - 4 262 139 - 4

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

39

Thousand euros

31 December 2025

Non-current Current

Covered

principal Maturity Asset Liability Asset Liability

Interest rate

swap 20,754 2026 - - 164 -

Interest rate

swap 7,000 2026 - - - 33

Interest rate

swap 46,500 2029 - 202 - -

Interest rate

cap 39,500 2029 11 - - -

Interest rate

swap 16,150 2031 140 - - -

151 202 164 33

In connection with the financing of real estate investments, the Group enters into interest rate hedging transactions with the aim of reducing the risk arising from interest rate variability.

The fair value of financial hedging derivatives is registered as a non-current asset or non-current liability if its maturity is beyond 12 months, and as a current asset or current liability if its maturity is prior to 12 months.

The interest rate swap derivative (financial swap) allows to change from a variable interest rate to a fixed interest rate in bank loans signed by the Group. The cashflow covered is the foreseen future payments of interests related to the financial debts (Note 12). Changes in fair value of the interest rate swap are registered in “Adjustments for changes in value” inside Equity.

Additionally, there is one embedded interest rate hedging transaction associated with the financing of a specific asset. The fair value of this swap as of 30 June 2026 is 405 thousand euros (547 thousand euros as of 31 December 2025). As of 31 December 2025, there were two hedging transactions of this nature in place, one of which matured on 30 June 2026.

Regarding these implicit interest rate hedging transactions, the financial institutions, to determine the fixed interest rate, use as a reference a swap in which a fixed interest rate is exchanged for a variable interest rate, with an amortization schedule similar to that of the financing. This makes the arrangement financially equivalent to a transaction where the borrower would have simultaneously contracted with the lender a swap as described, together with financing having the same characteristics as the loan but with a variable interest rate. Therefore, since the embedded derivatives are closely related to the financing contracts, their recognition in these interim financial statements is not applicable.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

40

16. PROVISIONS, CONTINGENCIES AND BANK GUARANTEES

Contingent liabilities

Neither on 30 June 2026 nor 31 December 2025 has the Company any contingent liabilities.

Bank Guarantees

Neither on 30 June 2026 nor 31 December 2025 has the Company no bank guarantee in force.

17. BOARD OF DIRECTORS AND OTHER PAYMENTS

Remuneration of members of the Board of Directors During the period between 1 January 2026 and 30 June 2026, the remuneration of the members of the Board of Directors of the Company has amounted to:

Thousand euros

Six-month period

ended on 30 June 2026 Six-month period ended on 30 June

2025

Remuneration of executive directors 302 52 Allowance of non-executive directors 50 62

352 114

For the annual period ended on 30 June 2026, the following amounts are included under ‘Remuneration of executive directors’: (i) 200 thousand euros in fixed salary (52 thousand euros in 2025), (ii) 100 thousand euros in accrued bonus (0 thousand euros in 2025), and (iii) 2 thousand euros in benefits in kind (0 thousand euros in 2025).

Additionally, during the period ended 30 June 2026, the Parent Company paid 23 thousand euros in premiums for civil liability insurance covering the members of the Parent Company’s Board of Directors for the performance of their duties (27 thousand euros as of 30 June 2025).

The amount of directors’ fees accrued in 2026 remains outstanding and is recognised under Current Liabilities in the Balance Sheet as of 30 June 2026.

The members of the Parent Company’s Board of Directors do not have pension funds or similar obligations for their benefit. During the periods ended 30 June 2026 and 2025, there were no senior executives who were not members of the Parent Company’s Board of Directors.

The members of the Parent Company’s Board of Directors neither received shares nor share options during the six-month periods ended 30 June 2026 and 30 June 2025, nor have they exercised or have outstanding options.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

41

18. RELATED-PARTY TRANSACTIONS

As of 30 June 2026, recognized under the heading “Short-term investments in group companies,” corresponding to a loan granted to the group company JSS Real Estate Fund Master Holding Company S. á. r. l. an amount of 815 thousand euros (795 thousand euros as of 31 December 2025).

Furthermore, as of 30 June 2026, the caption “Bank borrowings” includes an amount of 101,485 thousand euros relating to mortgage loans granted by the related party B. J. Safra Sarasin (101,485 thousand euros as of 31 December 2025). These loans generated finance costs amounting to 2,100 thousand euros as of 30 June 2026 (1,688 thousand euros as of 30 June 2025).

19. INFORMATION REQUIREMENTS RESULTING FROM SOCIMI STATUS, ACT 11/2009, AS

AMENDED BY ACT 16/2012 AND ACT 11/2021

a) Reserves from years prior to the application of the tax regime established in this Act.

Not applicable.

b) Reserves arising from years in which the tax regime established in this Act has been applied, differentiating the part that comes from income subject to a tax rate of 0%, 15% or 19%, with respect to those that, where applicable, have been taxed at the general rate.

Not applicable

The breakdown of reserves as of 31 December of prior years, by tax rate, for the merged entity JSS Real Estate SOCIMI, S.A. is disclosed in the annual financial statements of that company approved for the year ended 31 December 2024.

c) Dividends distributed against profits each year in which the tax rules contained in this Act applied, with differentiation between the portion originating from income subject to tax at a rate of 0%, 15% or 19%, and the portion originating from income subject to tax at the general rate.

It should be noted that the Company has never distributed dividends.

The dividends distributed out of profits during 2025 by the merged company, JSS Real Estate SOCIMI, S.A., were as follows:

31/12/2025

Subject to a 0% tax rate 160.834 € Subject to a 15% tax rate -

Subject to a 19% tax rate -

Subject to the general tax rate -

The remaining dividends distributed by the merged company, JSS Real Estate SOCIMI, S.A., are disclosed in the annual financial statements of that company approved for the year ended 31 December 2024.

d) In the case of distribution against reserves, identifying the year from which the reserves applied

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

42

originate, and whether they were taxed at 0%, 15%, 19% or the general rate.

Not applicable

e) Date of the agreement for the distribution of dividends referred to in c) and d) above.

On 30 June 2025, the distribution of a dividend was approved as part of the proposed appropriation of profit for the 2024 financial year. The total amount of the dividend amounted to EUR 160,834.

The remaining dividends distributed by the merged company, JSS Real Estate SOCIMI, S.A., are disclosed in the annual financial statements of that company approved for the year ended 31 December 2024.

f) Date of acquisition of properties intended for rent and interests in the share capital of companies referred to in Article 2.1 of this Act.

Property Location Date acquired Segment Botanic Calle Josefa Valcárcel, 42, Madrid 29 January 2019 Offices Play Vía de los Poblados, 3 -Parque Empresarial Cristalia, Edificio 4B, Madrid 29 January 2019 Offices Guadalix Barranco Hondo, San Agustín de Guadalix 12 April 2019 Logistic Ramírez de Arellano, 21 Calle Ramírez de Arellano, 21, Madrid 28 June 2019 Offices Cadenza Vía de los Poblados, 7, Madrid 30 December 2019 Offices Dune Calle Manoteras, 28, Madrid 11 June 2020 Offices Pradillo Calle Pradillo, 54-58, Madrid 27 October 2020 28 September 2021 30 September 2021 Offices Torrelaguna, 75 Calle de Torrelaguna, 75, Madrid 12 June 2023 Offices Josefa Valcárcel, 38 Calle de Josefa Valcárcel, 38, Madrid 26 June 2025 Offices Las Tablas Avenida del Camino de Santiago, 40, Madrid 21 September 2018 Offices Tres Cantos Avenida Artesanos, 6, Tres Cantos, Madrid 27 June 2023 Offices

g) Identification of assets considered when calculating the 80% referred to in Article 3.1 of this Act.

The assets considered when calculating the 80% referred to in Article 3.1 of the SOCIMI Act are

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED INTERIM STATEMENTS FOR THE SIX-

MONTH PERIOD ENDED ON 30 JUNE 2026 (Thousand euros)

43

the ones listed in the above table.

h) Reserves from years in which the tax system provided for under the Act was applicable and which have been made use of (not for distribution or offsetting losses) during the tax period, with identification of the year from which the reserves originate.

Not applicable.

20. SUBSEQUENT EVENTS

Subsequent to 30 June 2026 and prior to the preparation of these Condensed Consolidated Interim Financial Statements, the Group completed the sale of: (i) an office building located at Josefa Valcárcel, 38 for 17,650 thousand euros on 31 July 2026; and (ii) a logistics warehouse located in San Agustín de Guadalix for 28,129 thousand euros on 2 September 2026.

On 2 September 2026, the Board of Directors convened an Extraordinary General Shareholders’ Meeting, which was held on 17 September 2026 and approved the distribution of a dividend amounting to up to 20,488 thousand euros.

ÁRIMA REAL ESTATE SOCIMI, S.A. AND SUBSIDIARIES

CONSOLIDATED INTERIM MANAGEMENT REPORT FOR THE SIX-MONTH PERIOD

ENDED ON 30 JUNE 2026

1

1. ORGANIZATION STRUCTURE AND FUNCTIONING

Árima Real Estate SOCIMI, S.A. (hereinafter referred to as “Árima”, the “Company” or the “Parent Company”) is the parent company of a Group whose main objective is to build a real estate portfolio focused primarily on the office and logistics sectors in Madrid, with the aim of generating rental income through active portfolio management. Its ultimate goal is to create value for shareholders, provide tenants with the highest-quality spaces, and promote the development of a sustainable and technologically advanced environment.

The Group’s strategy is clearly focused on value creation and responds to the shortage of high-quality, environmentally sustainable office space (Class A). Leveraging the competitive advantage provided by the extensive experience of its management team, the Group is able to identify excellent investment opportunities and, through smart refurbishment, reposition its assets.

Árima is built on the proven experience of the members of its management team and their in-depth knowledge of the sector, combined with corporate values such as transparency, excellence, sustainable profitability, and tangible value appreciation.

Structure and functioning of the Group

The dominant Company has a suitable structure that guarantees the proper functioning of the governing bodies and compliance with the standards and regulations governing its activity.

The General Shareholders' Meeting is the Company’s highest decision-making body. Its designated powers include the appointment of directors, the approval of the remuneration policy and the distribution of dividends, all of which are set forth in the Regulations of the General Shareholders' Meeting.

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Under the umbrella of the Shareholders’ Meeting sits the Board of Directors, which is responsible for overseeing the Company’s work. The members of the Board have the responsibility of reviewing the Group’s strategy and objectives, adapting them at all times to market needs and trends. Following the takeover bid completed in November, the new members of the Board of Directors were appointed by co-

option. They include both independent and proprietary directors who together bring years of experience and expertise in the real estate, international, financial and legal fields. Thanks to their extensive careers holding positions in multinational companies, they also possess broad knowledge of environmental, social and corporate governance matters. The new directors were appointed by co-option during the 2024 financial year and subsequently ratified at the General Shareholders’ Meeting held on 30 June 2025.

The Board of Directors carries out its activities in accordance with the rules of corporate governance contained mainly in the Company's Bylaws, the Regulations of the Shareholders' Meeting and the Regulations of the Board of Directors, also following the recommendations of the Good Governance Code with the maximum commitment to compliance.

Likewise, it also has two fundamental committees, whose essential function is to support this body in its tasks of supervision and control of the ordinary management of the Group: The Audit and Control Committee and the Appointments and Remuneration Committee.

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2. EVOLUTION AND RESULTS OF BUSINESS

Since its initial public offering in October 2018, the Group has carried out various asset acquisition and disposal transactions. As of June 30, 2026, no purchase or sale transactions have been carried out involving the investment properties owned by the company.

These investments have resulted in the composition of a diversified portfolio, consisting of 11 assets. This asset portfolio provides stability and high growth potential and bring the market value of the portfolio at 30 June 2026 to 584,204 thousand euros. The Group has recorded a revaluation – as established by international financial regulations (IFRS) – of 10,334 thousand euros, with a consolidated result of 17,753 thousand euros as of June 30, 2026.

The office real estate sector has faced challenges in recent years due to uncertainty surrounding remote work practices. Although many companies have recently returned to full on-site operations, there has been a noticeable shift in space demand, with businesses now seeking more central locations for their offices and higher-quality facilities.

The Group acquires Class-A office buildings, or properties with the potential to become Class-A by creating high-quality workspaces, which help enhance the appeal of the office market and meet the demand from top-tier companies seeking to provide their employees with environments that maximize their potential in established office areas.

Despite the current market situation, Árima consolidated its solid strategy and defensive portfolio during the first half of 2026 thanks to quality tenants and active portfolio management. As of June 30, 2026, the Company is currently undertaking a refurbishment project that continues to progress and is expected to generate significant increases in both asset value and rental income through its leasing once the works are completed.

The Group has continued to reinforce its commitment to its stakeholders, strengthening communication and continuous contact. In addition, it pays special attention to ensuring that its impact on society is positive, through its engagement programs and its well-being surveys.

At the end of the year, the portfolio totals 175,134 leasable sqm and 2,949 parking spaces. The properties are faithful to the investment model of the listed company. They make up a balanced portfolio of rental assets and buildings with great potential for revaluation for the shareholders of the SOCIMI, always looking for a product with great potential for generating value in highly consolidated areas of the metropolitan area and bordering Madrid, as shown in the following map.

The properties that currently make up the Group's portfolio are the following:

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Offices:

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Logistics:

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The net amount of turnover, derived from the lease of the real estate assets owned, amounted to 16,062 thousand euros as of June 30, 2026 (14,974 thousand euros as of June 30, 2025). EBITDA - earnings before interest, taxes, depreciation and amortization - amounted to EUR 11,350 thousand, representing an increase of 22% compared with the same period of the previous year.

The market value of the Group's assets as of June 30, 2026, amounting to €584,204 thousand (€563,546 thousand as of December 31, 2025), represents a revaluation of 4% in comparable terms compared to December 31, 2025.

3. EPRA INFORMATION

Árima Real Estate has been a member of the European Public Real Estate Association (EPRA) since its inception and has adopted its best practice recommendations (BPR). The European Public Real Estate Association (EPRA) defines three different metrics for calculating the Net Asset Value (NAV) in its Best Practices guide: Net Reinstatement Value, Net Tangible Assets and Net Disposal Value.

The following definitions are detailed in the 2025 EPRA Best Practices Recommendations Guidelines:

Net asset value (NAV) is a key performance measure used in the real estate industry. However, the NAV reported in IFRS financial statements may not provide stakeholders with the most relevant information about the fair value of assets and liabilities. As real estate companies have evolved into actively managed companies, including non-real estate operating activities, more active ownership has evolved, asset turnover has increased, and balance sheet financing has shifted from traditional bank lending to the capital markets.

The following guidelines are intended to reflect this nature of real estate companies.

EPRA Net Reinstatement Value: The objective of this indicator is to highlight the value of long-term net assets. Assets and liabilities that are not expected to crystallise under normal circumstances, such as fair value movements on financial derivatives and deferred taxes on the revaluation of real estate are therefore excluded. Since the objective of the metric is to reflect also what would be needed to recreate the company through investment markets based on its current capital and financing structure. Costs such as taxes on asset sales should be included.

EPRA Net Tangible Assets: The assumption behind this indicator is that companies are assumed to buy and sell assets, thus crystallising certain levels of unavoidable deferred tax.

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EPRA Net Disposal Value: Shareholders are interested in understanding the full extent of liabilities and the resulting value to shareholders if the company's assets are sold and/or if liabilities are not held to maturity. To this end, this indicator provides the reader with a scenario in which deferred taxes, financial instruments and certain adjustments are calculated based on the full extent of its liabilities, including off-balance sheet tax exposure, net of any resulting taxes. This measure should not be viewed as a ‘Net Asset Value net asset value’ because, in many cases, fair values do not represent liquidation values.

Considering the Group's activity and usual market practice, the metric that best represents the nature of the Company is Net Tangible Asset (assumes that companies buy and sell assets).

The Net Tangible Asset stands at €14.1/share EPRA Net Asset Value Metric: Net Tangible Assets

Thousand

euros

30/06/2026 31/12/2025

IFRS Equity attributable to shareholders: 345,899 328,094 Hybrid instruments - -

Diluted NAV 345,899 328,094

Exclude:

Fair value of financial instruments (119) 84 Intangibles as per the IFRS balance sheet (311) (373)

EPRA NTA 345,469 327,805

Fully diluted number of shares 24,457,392 24,457,498 EPRA NAV per share (euros) 14.1 13.4

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4. EVOLUTION OF THE SHARES

The share price at June 30, 2026 was 11.20 euros per share. The share price at December 31, 2025 was 7.40 euros per share.

5. TREASURY SHARES

As of June 30, 2026, the Company holds 118 treasury shares (12 treasury shares as of December 31, 2025). These shares are recorded reducing the value of the Group's equity as of June 30, 2026 by an amount of 1 thousand euros (as of December 31, 2025 by an amount of 0 thousand euros).

Movements in treasury shares over the period have been as follows:

30 June 2026 31 December 2025

Number of

treasury

shares Thousand euros Number of

treasury

shares Thousand euros At the beginning of the year 12 - 26,971 237 Additions/purchases 111 1 12 -

Reductions (5) - (26,971) (237) Amortizations - - - -

At the end of the year 118 1 12 -

The dominant Company has complied with its obligations under Article 509 of the Spanish Capital Companies Act, which establishes that the par value of acquired shares that are listed on official secondary markets, added to the value of those that are already held by the dominant Company and its subsidiaries, must not exceed 10% of the share capital. The subsidiary does not hold either treasury shares or shares in the dominant Company.

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6. DIVIDEND POLICY

The Company is governed by the special tax rules established under Act 11 of 26 October 2009, with the amendments introduced by Act 16 of 27 December 2012, under which SOCIMIs are governed. They are required to distribute the profits they obtain over the course of the year to their shareholders in the form of dividends, after complying with the relevant corporate obligations. Distribution must be approved within the six months following the year end, in the following way:

a) 100% of the profits resulting from dividends or profit shares received form the companies referred to in Article 2.1 of this Act.

b) At least 50% of the profits earned from the transfer of the property, shares or ownership interests referred to in Article 2.1 of the Act, where this occurs after the deadlines referred to in Article 3.3 of the Act have expired, when the property, shares or interests are used to comply with the Company’s primary corporate purpose. The remainder of these profits must be reinvested in other property or investments related to the performance of this corporate purpose within three years of the transfer date. Otherwise, these profits must be distributed in full together with any profit earned, where applicable, in the year in which the reinvestment period expires. If the items in which the reinvestment has been made are transferred prior to the end of the holding period, profits must be distributed in full, together, where applicable, with the part of the profits attributable to the years in which the Company was not taxed under the special tax scheme provided for in the before mentioned Act.

c) At least 80% of the remaining profits obtained.

The dividend must be paid within one month of the distribution agreement. When dividends are distributed with a charge to reserves originating from profits for a year in which the special tax rules were applied, the distribution must compulsorily be approved by means of the resolution referred to above. Additionally, the amendment to Law 11/2021 imposes a 15% tax on undistributed profits through dividends.

The Company is required to allocate 10% of its profits for the year to the legal reserve until the balance held in this reserve amounts to 20% of its share capital. The balance of this reserve is not available for distribution to the shareholders until it exceeds the 20% limit. The articles of association of these companies may not establish any restricted reserve other than the foregoing.

The following table shows a reconciliation between the result under Spanish Gaap and the result under

IFRS:

Thousand euros

30/06/2026 30/06/2025

Result for the period- Spanish GAAP 6,180 1,581

Adjustments:

(I) Consolidation (2,424) 930 (II) Amortization of inv. properties 3,663 1,253 (III) Value adjust. of investment properties 10,334 1,860 Profit/(loss) for the year - IFRS 17,753 5,624

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7. THE TEAM

Árima bases its activity on professional solvency, deep knowledge of the sector and the high level of connection of its management team with the market.

To continue building Árima's achievements, the management team works to distinguish the best investment operations. The team oversees all phases of the value creation chain from the identification of assets for investment to the management of assets and their potential repositioning or enhancement and addressing issues such as regulatory compliance and sustainability. In turn, the management team is under the umbrella of the Board of Directors, whose members oversee the Company's activities.

In Árima we always work with the focus on the interests of the Company and its relevant groups. The goal is to create value for shareholders, offer the best quality spaces for tenants and ensure the construction of a sustainable and technologically advanced environment.

These objectives go hand in hand with corporate values. Commitment, transparency and rigor govern day-to-day actions and ensure the best management of the Company, minimizing potential conflicts of interest and solving any unforeseen event.

For Árima, the key to the success of any project is people. To continue promoting best practices and ensure the best welfare of our team and their professional development, the Company relies on its Employee Engagement Plan.

Below, we show the evolution of the average workforce of the Company:

The breakdown of the average number of employees at 30 June 2026 and 2025 by category is as

follows:

Categories 30 June 2026 30 June 2025 Management 6 6 Employees with degrees 1 1 Administrative personnel and others 1 1 8 8

The gender distribution at 30 June 2026 is as follows:

30 June 2026 Categories Men Women Total Management 5 1 6 Employees with degrees - 2 2 Administrative personnel and others 1 - 1 6 3 9

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8. ALTERNATIVE PERFORMANCE MEASURES

On 5 October 2015, the European Securities and Markets Authority (ESMA) published a set of Guidelines (2015/1415) on Alternative Performance Measures (APM). Compliance with these guidelines is mandatory for all issuers whose securities are admitted for trading on a regulated market and who are required to publish regulatory information under Directive 2004/109/EC on transparency.

Árima’s financial information contains figures and measures that have been prepared in accordance with the applicable accounting regulations, together with a further series of measures prepared in accordance with the reporting standards that the company has established and developed internally (“Medidas Alternativas de Rendimiento – MAR”).

A. Identification, definition, relevance of use and consistency The Group considers as alternative performance measures those detailed in section 8 of the Directors' Report, on which this information is reflected as set out below.

Alternative performance measures related to the income statement:

EBITDA

‘Earnings Before Interest, Tax, Depreciation and Amortisation: an indicator that measures the Group's operating profit before interest, tax, impairment and depreciation.

As it excludes financial and tax magnitudes, as well as accounting expenses that do not involve cash outflows, it is used by management to evaluate results over time, allowing comparison with other companies in the real estate sector.

Alternative performance measures related to the balance sheet:

GAV

Gross Asset Value: the value of the portfolio according to the latest external valuation by an independent expert. This measure is used to determine the generation of value as a result of the management of the Group's asset portfolio.

Financial leverage ratio Calculated as financial debt / (financial debt plus equity). This figure allows management to assess the Group's level of indebtedness, given that the main objectives of the Group's capital management are to ensure short and long-term financial stability, the positive evolution of the shares of Árima Real Estate SOCIMI, S.A. and the adequate financing of investments.

Leverage (Loan to Value)

Calculated as the percentage of debt over the market value of the assets in the portfolio. Management monitors this ratio with the aim of assessing the Company´s appropriate level of indebtedness.

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Net Debt

This ratio is calculated by subtracting cash and cash equivalents from the amount of debt drawn, stated at nominal value as of the date. Management considers this metric relevant for analysing the Company´s effective net indebtedness.

B. Reconciliation and comparison For the detailed alternative performance measures, we expand on their reconciliation and comparative information below.

EBITDA

Section 2 states that EBITDA - earnings before interest, taxes, depreciation and amortisation - amounts to 11,350 thousand euros.

30/06/2026

30/06/2025

Operating result 11,281 9,181 Amortization and depreciation (69) (101)

EBITDA 11,350 9,282

Recurring EBITDA amounts to EUR 11,152 thousand.

GAV

Section 2 of this Consolidated Management Report and note 7 of these Consolidated Annual Accounts establishes the market value of the Group's assets at 30 June 2026, which amounts to 584,204 thousand euros (563,546 thousand euros at 31 December 2025), representing a revaluation of 4% like for like.

Financial leverage ratio

The following information is detailed in note 3.2 of the Consolidated Annual Accounts as of 30 June 2026:

30/06/2026 31/12/2025

Financial debt 255,658 239,406 Equity 345,899 328,094 Leverage 42.50% 42.19%

At 30 June 2026, 100% of the financing obtained by the dominant Company is classified as "green" by the financial institutions, given the sustainable characteristics of the properties financed.

With regard to the measures referred to in point 2, the Group considers leverage over LTV and net debt to be important magnitudes for evaluation and monitoring, as reflected in this Management Report and the Consolidated Financial Statements. In addition, these aggregates are detailed below:

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Leverage (Loan to Value)

The leverage figure reflects the % of debt over the market value of the assets in the portfolio.

Management monitors this ratio in order to assess the appropriate level of indebtedness of the Company. The calculation is made by dividing the debt drawn down in nominal terms at 30 June by the market value of the portfolio at the same date.

30/06/2026 31/12/2025

Investment Properties 584,204 563,546 Nominal debt 255,658 239,406

LTV 43.76% 42.48%

Net debt 238,006 230,227

Net LTV 40.74% 40.85%

Net debt

This ratio is calculated by subtracting cash and cash equivalents at 30 June from the amount of debt drawn down in nominal terms at that date. Management considers this to be relevant for the analysis of net effective debt.

30/06/2026 31/12/2025

Nominal debt 255,658 239,406 Cash and banks 17,652 9,179 Net debt 238,006 230,227

9. USE OF DERIVATIVES

The coverage of cash flows through interest rate swaps (financial swap) allows to exchange debt at variable interest rate for fixed-rate debt, where future cash flows to be covered are future interest payments on contracted loans. Changes in the fair value of derivatives are reflected in "Hedging Reserve" in equity. See Note 15 of these condensed consolidated interim financial statements.

10. RISK MANAGEMENT

Árima is subject to a wide range of regulations and good practices in compliance and reporting. In response to these requirements, the Group has carried out an analysis and adaptation of the following Risk Management Systems:

→ Risk Management System, defined and developed through the Risk Management Policy and Manual, in order to establish the basic principles, key risk factors and the general framework of action for the control and management of all types of risks faced by the Company (Compliance, → Environment, Sustainability, Strategic, Financial and Operational).

→ Criminal Compliance Policy, which defines the main guidelines of the Crime Prevention and Detection Model (CPDM), which are developed in the Management Manual issued for this purpose.

→ Management Manual of the Internal Control over Financial Reporting System (ICFRS) with the objective of establishing the basis for the maintenance, review, reporting and supervision of the ICFR, ensuring that risks due to errors, omissions or fraud in financial information are adequately controlled, either by prevention, detection, mitigation, compensation or correction, providing

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assurance that internal controls operate effectively and contribute to ensuring the reliability of the Company's financial information.

In order to:

→ Comply with applicable regulations.

→ Benefit from models adapted to Árima's specific characteristics.

→ Aid decision-making internally and with third parties through the reporting of these areas.

The Board of Directors considers risk management and internal control to be essential factors for the achievement of the Company's objectives. In order to implement these measures, the Company benefits from an Audit and Control Committee which, in turn, relies on the Risk Control and Management Function. Árima has therefore established a risk management model based on the Risk Management and Control Policy, which is detailed in greater detail in the Risk Management and Control Manual. This management model includes, in line with its commitment to integrate sustainability at all levels of the Company, an ESG risk analysis (Environmental, Social, Governance).

The Group's objective is to establish systematic and preventative procedures, aligned with renowned international risk management standards (COSO1 ERM 2017 - Business Risk Management Framework) and led by management, to forecast, prevent and detect risks.

Risk management and control is an ongoing process based on (i) the identification and assessment of potential Company risks based on strategic and business objectives, (ii) the determination of critical risk action plans and controls, (iii) monitoring the effectiveness of the controls and residual risk developments put in place, to report to the Company's governing bodies.

In addition, the Risk Management System operates in a comprehensive, continuous, and cross-cutting way, and serves the management of all priority risks, both internal and external.

1 The "Committee of Sponsoring Organizations" (COSO) is a voluntary private sector organization founded in 1985 whose mission is to provide intellectual leadership in relation to three interrelated issues: corporate risk management, internal control and fraud deterrence.

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Note 3 of the condensed consolidated interim statements gives details of the Group’s risk management activities.

11. MAIN RISKS AND UNCERTAINITY

The Group's activity is subject to various risks specific to the sector, such as changes in the evolution of the real estate market, tax regulations, defaults, environmental risks, the search for potential acquisitions of new prime assets in the national market and the availability of financing and obtaining resources to undertake them.

For this reason, the Group carries out its work with a committed risk management, as described in the previous section, with the aim of acquiring real estate investments that fit within its strategy and that provide maximum value to its shareholders in the medium and long term. Árima has investment resources associated with the treasury and the financing capacity of the assets pending financing, which will allow it to have firepower to continue with its investment strategy focused on real estate assets in Spain.

From a financial point of view, Árima has an adequate leverage (44% LTV) and a cash and equivalents position of 17.6 million euros as of 30 June 2026, which translates into a net debt amount of 242 million euros at that date.

12. TECHNOLOGY, SUSTAINABILITY AND HEALTH

The Group develops a sustainable environmental management in its office buildings and logistics warehouse, aimed at minimising the possible impact on the environment derived from its activity, and maximising the well-being of its occupants.

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Árima Group maintains its commitment to investors and ESG transparency by continuing with the assessments by GRESB and EPRA. Árima consolidates its leadership by obtaining five stars in the GRESB benchmark and the EPRA Gold award in sustainability, both being the highest award of these institutions. Árima works every day to adapt to the increased competitiveness in the market and the new requirements of the assessment bodies.

On the other hand, this commitment is also reflected in the achievement of LEED/BREEAM certifications and Energy Performance Certificates (EPCs) across the portfolio. These certifications demonstrate the quality of the assets in terms of energy efficiency and low operational emissions.

The Group also continues to analyse the consumption of both the corporate headquarters and its assets in order to calculate its carbon footprint and identify measures to reduce it. All these initiatives in the portfolio are part of the Group's Decarbonisation Policy, which aims to achieve a 55% reduction in emissions by 20302 and carbon neutrality by 2050.

All of this represents the Group's firm commitment to environmental conservation, asset quality, and tenant health and well-being.

13. SUBSEQUENT EVENTS

Subsequent to 30 June 2026 and prior to the preparation of these Condensed Consolidated Interim Financial Statements, the Group completed the sale of: (i) an office building located at Josefa Valcárcel, 38 for 17,650 thousand euros on 31 July 2026; and (ii) a logistics warehouse located in San Agustín de Guadalix for 28,129 thousand euros on 2 September 2026.

On 2 September 2026, the Board of Directors convened an Extraordinary General Shareholders’ Meeting, which was held on 17 September 2026 and approved the distribution of a dividend amounting to up to 20,488 thousand euros.

2 Compared to 2019 for the portfolio's operational carbon in terms of CO 2/sqm occupied.

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PREPARATION OF THE CONDENSED CONSOLIDATED INTERIM STATEMENTS

AND THE CONSOLIDATED MANAGEMENT REPORT FOR THE SIX-MONTH PERIOD

ENDED ON 30 JUNE 2026

The Board of Directors of the company Árima Real Estate SOCIMI, S.A. on 17 September 2026 proceeds to prepare the condensed consolidated interim financial statements for the six-month period ended on 30 June 2026.

Mr. José María Rodríguez-Ponga Linares Mr. José Carlos Velasco Sánchez President Board Member

Dña. Belén Ríos Calvo D. Santiago Aguirre Gil de Biedma Board Member Board Member

Ms María Virginia Villanueva Rosa, having attended the meeting by videoconference, authorised the Secretary of the Board of Directors to sign, on her behalf, the Condensed Consolidated Interim Financial Statements and the Consolidated Interim Management Report of Árima Real Estate SOCIMI, S.A. and its subsidiaries for the six-month period ended 30 June 2026.

Record prepared by the Secretary of the Board to certify that, following the preparation by the members of the Board of Directors of the Condensed Consolidated Interim Financial Statements and the Consolidated Management Report of Árima Real Estate SOCIMI, S.A. and its subsidiaries corresponding to the six-month period ended June 30, 2026, at the meeting held on 17 of September 2026, all directors have signed this document by placing their signature on this last page, which I attest to in Madrid, on 17 of September 2026.

I further certify that these Condensed Consolidated Interim Financial Statements are the same as those approved at the aforementioned meeting of the Board of Directors, and therefore I have signed each of their pages.

Mr. Enrique Gonzalo Nieto Brackelmanns