Aedifica NV/SA (AED) Investor presentation summary

Demographic trends and market drivers

• Ageing populations across Belgium, Netherlands, Germany, UK, Finland, Spain, and Ireland are projected to increase significantly by 2060, driving demand for healthcare real estate.

• Strong demographic tailwinds and improving operator performance support long-term growth.

Portfolio composition and tenant diversification

• Portfolio consists of 615 sites with around 300 tenants, including both profit and not-for-profit operators, with no single operator accounting for more than 10% of assets.

• Focus is on care facilities for elderly people, with 69% in elderly care homes and further diversification across senior housing and mixed-use elderly care buildings.

• Geographical diversification includes Belgium, Germany, Netherlands, UK, Finland, Ireland, and Spain.

Operational performance and financial metrics

• Average care home occupancy stands at 90%, with year-on-year growth in all countries and strong rent cover in the UK portfolio at 2.3x as of Q1 2025.

• Conservative gross yields on fair value average 6.0% across the portfolio, with positive like-for-like valuation changes for seven consecutive quarters.