CLS : 2022 Annual Report and Accounts Presentation

CLS Holdings plc

Full Year Results 2022

The best offices in our locations

Contents

03

Overview

Fredrik Widlund

Chief Executive Officer

18

Portfolio &

Sustainability

Markets &

Outlook

Fredrik Widlund

Chief Executive Officer

08

Financials & Occupiers

Andrew Kirkman

Chief Financial Officer

25

Appendices

CLS Holdings plc Full Year Results 2022

Overview

Fredrik Widlund

Chief Executive Officer

3

Kanzlerstrasse, Dusseldorf

CLS Holdings plc Full Year Results 2022

Overview

Solid and resilient results

CLS Holdings plc Full Year Results 2022

• EPRA EPS up 2.7% to 11.6p

• Valuations down 5.3% in local currency (down

2.6% in group currency) due to yield expansion

• New leases 4.8% above ERV, over 55% of

portfolio index-linked

• Vacancy increased from 5.8% to 7.4% due to

completed refurbishments and lease expiries

• Continued investment in our properties with

capital expenditure of £58m, up 61% on 2021

Property portfolio value

£2.35bn

(2021: £2.33bn)

Total portfolio

EPRA NTA

329.6p

(2021: 350.5p)

EPRA NTA (p)

350.5

345.2

• Well advanced with 2023 & 2024 financings

• Net Zero Carbon Pathway making significant

progress

• Proposed full year dividend up 3.2% to 7.95p per

share

89

Properties

UK £1,071m 46% Germany £996m 42%

326.3

304.6

329.6

France £286m 12%

2018 2019 2020 2021 2022

4

Overview

The best offices in our locations

CLS owns high quality offices in central and urban locations

Significant improvements made to portfolio in recent years

• Sold most smaller (<£10m) properties
• Disposed of non-core offices in fringe markets including UK regional portfolio
• Sustainability enhancements

Split of property value by classification

Government 26%

Student and Hotel 5%

City centre 48%

Urban 21%

Portfolio is now focussed on better markets with flexible properties

that meet occupiers' needs

5	CLS Holdings plc Full Year Results 2022