Annual Results as of 31 March 2024 / Successful Operating Result 2023/24

Züblin Immobilien Holding AG / Key word(s): Annual Results Annual Results as of 31 March 2024 / Successful Operating Result 2023/24 16-May-2024 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Ad hoc announcement pursuant Article 53 LR - Züblin Immobilien Holding AG Zurich, 16 May 2024

Züblin can look back on an operationally successful year at the end of the 2023/24 financial year. However, the uncertain economic situation and the rise in interest rates have had an impact on the revaluations of our properties. In spite of this, corporate key figures confirm our track record in asset management, which has enabled us to achieve a solid result for the full financial year ended on 31 March 2024 in a market environment that continues to be challenging. This performance sets an important cornerstone for the coming and subsequent financial years.

Improved earnings situation - rise in EBITDA by 5%

In a still demanding market environment, Züblin achieved a solid result in the financial year 2023/24 thanks to operational successes. EBITDA rose by 5% from CHF 6.0 million to CHF 6.3 million, while the operating result increased by 3.6% from CHF 8.3 million to CHF 8.6 million, mainly due to index increases and new lettings. In spite of special one-off items, administrative expenses remained stable at the previous year's level at CHF 2.4 million. The decline in the administrative expenses/rental income ratio from 28.6% to 27.5% underlines our efficiency improvements.

The revaluation of the investment property portfolio led to an adjustment of CHF 3.4 million (– 0.8%), whereby a positive impact of CHF 1.1 million was reported in the previous year. This was mainly due to the increase in the average nominal discount rate by 30 basis points as a result of the higher interest rate environment. Despite this adjustment, net rental income remained at an attractive level of 3.9% (previous year: 3.7%). Financial expenses rose from CHF 0.8 million to CHF 1.6 million as a result of the interest rate increases. The average effective interest rate on the balance sheet date was 3.1% (previous year: 2.0%). Financing is variable on the basis of SARON.