Galil Capital RE Spain SOCIMI S A : Presentación corporativa dirigida a accionistas e inversores (2 MB)

GALIL CAPITAL RE SPAIN, SOCIMI, S.A.

24 de abril de 2024

En virtud de lo previsto en el artículo 17 del Reglamento (UE) nº 596/2014 sobre abuso de mercado y en el artículo 227 de la Ley 6/2023, de 17 de marzo, de los Mercados de Valores y de los Servicios de Inversión, y disposiciones concordantes, así como en la Circular 3/2020 del segmento BME Growth de BME MTF Equity (BME MTF Equity), sobre información a suministrar por empresas incorporadas a negociación en el segmento BME Growth de BME MTF Equity (la "Circular 3/2020 del BME MTF Equity"), en sus redacciones vigentes, Galil Capital Re Spain, SOCIMI, S.A. ("Galil Capital" o la "Sociedad"), pone en conocimiento del mercado la siguiente

OTRA INFORMACIÓN RELEVANTE

Mediante la presente, se pone en conocimiento del mercado la presentación corporativa elaborada por la Sociedad dirigida a los actuales accionistas y, en su caso, a potenciales inversores.

En cumplimiento de lo dispuesto en la Circular 3/2020 del BME MTF Equity se deja expresa constancia de que la información comunicada por la presente ha sido elaborada bajo la exclusiva responsabilidad de la Sociedad y sus administradores.

Quedamos a su disposición para cuantas aclaraciones consideren oportunas.

Atentamente,

_________________________

D. Jerry Zwi Mandel

Presidente del consejo de administración de Galil Capital Re Spain, SOCIMI S.A.

GALIL CAPITAL RE SPAIN, SOCIMI, S.A.

24 April 2024

Pursuant to the provisions of article 17 of Regulation (EU) no. 596/2014 on market abuse and article 227 of Law 6/2023 of 17 March on Securities Markets and Investment Services, and related provisions, as well as in Circular 3/2020 of the BME Growth segment of BME MTF Equity (BME MTF Equity), on information to be provided by companies listed for trading on the BME Growth segment of BME MTF Equity (the "BME MTF Equity Circular 3/2020"), in its current versions, Galil Capital Re Spain, SOCIMI, S.A. ("Galil Capital" or the "Company"), hereby informs the market of the following

OTHER RELEVANT INFORMATION

The market is hereby informed of the corporate presentation prepared by the Company for current shareholders and, if applicable, potential investors.

In compliance with the provisions of BME MTF Equity Circular 3/2020, it is hereby expressly stated that the information provided herein has been prepared under the sole responsibility of the Company and its directors.

We remain at your disposal for any further clarification you may require.

Yours faithfully,

_________________________

Mr. Jerry Zwi Mandel

Chairman of the Board of Directors of Galil Capital Re Spain, SOCIMI S.A.

Galil

Capital

RE Spain

SOCIMI,

S.A.

www.galilcapital.es

Jerry Mandel

[phone] [e-mail]

24 April 2024

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Disclaimer - Future Looking Statement

Certain information set forth in this presentation contains "forward-looking information", including "future oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) the expected development of the Company's business; (iii) execution of the Company's vision and growth strategy; (iv) sources and availability of third-party financing for the Company's projects; (v) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements.

These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.

Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

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Table of Contents

1. 2023 Highlights
2. Overview of GCRE Spain
3. Galil RE Naquera 1 - Industrial Property
4. GCRE Sold Properties
5. Rent Income Analysis
6. RICs Valuation of Portfolio as of 31 DEC 2023
7. GCRE Debt Position as of 31 December 2023
8. Financial Statements Review
9. NAV (IFRS) per Share Analysis
10. Cash Distributions to Shareholders

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2023 Highlights

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GCRE: FY2023 Highlights

• On 6 June 2023, GCRE Shareholders approved a total cash dividend of EUR 3,242,200 for FY2022 and a capital reduction by reducing the par value from EUR 10.00/share to EUR 1.85/share, which increased the available reserve by EUR22,320,372.
• In FY2023, GCRE made 4 cash distributions to its shareholders totaling EUR 11,998,682 comprised of dividend, issued premium and available reserve.
• In August 2023 and October 2023, GCRE fully repaid its mortgages for the buildings located at Unio 28, and Corsega 689, respectively, in order to reduce financial expense, using cash available.
• GCRE negotiated interest rate discounts on 4 existing mortgages for 2023 from its Lenders
• In FY2023, GCRE sold 7 individual units at aggregate sale prices higher than its RICs valuations of 31 DEC 2022
• Total same store rent income increased 12% in FY2023:
• • Same store RESIDENTIAL rent income increased 17% in FY2023
  • Industrial property rent income increased 9% in FY2023
• Total same store RICS values increased 1% on 31DEC23 vs. 31DEC22, despite higher interest rate environment (implies higher discount rate used by appraisers)
• Voluntary Base Fee reduction of 10% in FY2023. Another voluntary Base Fee reduction of 5% in FY2024 (total 15% Base Fee reduction in FY2024).
• Expected dividend payment in Q2-2024 of EUR 565.5K (approx. EUR 0.208/share) - subject to AGM approval

* As of 24 April 2024	5

Overview of GCRE Spain

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Galil Capital RE Spain SOCIMI, S.A. ("GCRE")

Overview of GCRE*

• Founded in December 2015. First Investment in May 2016
• Structured as SOCIMI (similar to US REIT)
• Shares listed on the BME Growth (Spain)
• Focus on Barcelona and Madrid Residential Buildings
• Hold properties for 3+ years, remodel interior of units and improve buildings, as needed, to be able to increase rents and make units more attractive for resale in the future
• Owns 7 residential buildings (6 in Barcelona and 1 in Madrid)*:
• • Approx. 10,460 M2 constructed area
  • 112 viviendas and 15 locales
• All 7 residential buildings owned 3+ years (SOCIMI min hold requirement)
• 4 residential buildings without mortgages (including early repayments of 2 mortgages in 2023)*
• GCRE, via a wholly owned subsidiary, GALIL RE NAQUERA 1 S.L.U. ("GALIL NAQUERA"), owns an industrial property in Valencia. The industrial property is comprised of 5 separate modules with an aggregate constructed area of approx. 52,103 M2, on a parcel of 83,749 M2.

* As of 31 December 2023	7

Galil Capital RE Spain SOCIMI, S.A. ("GCRE")

Overview of GCRE - Cont'd *

• On 20 December 2022, GCRE completed the sale of 3 buildings (2 buildings in Barcelona and 1 building in Madrid) for aggregate sale price of Eur 18,296,600. In 2022, GCRE also sold 13 individual units in 2 buildings for an aggregate sale price of EUR3,234,650.
• In FY2023, GCRE sold 7 individual units (6 units in Madrid and 1 unit in Barcelona) for an aggregate sale price of Eur 1,871,000.
• On 6 June 2023, GCRE Shareholders approved the following issues (among other issues):





Total cash dividend of EUR 3,242,200 for FY2022 (of which EUR 2,005,719 was distributed on 2 March 2023 and EUR1,236,481 was distributed on 22 June 2023).

Capital reduction by reducing the par value from EUR 10.00/share to EUR 1.85/share, which increased the available reserve by EUR22,320,372.

• In August 2023 and October 2023, GCRE fully repaid its mortgages for the buildings located at Unio 28, and Corsega 689, respectively, using cash available.
• In FY2023, GCRE made 4 cash distributions to its shareholders totaling EUR11,998,682 comprised of dividend, issued premium and available reserve.

Source: 31 December 2023 Audited Consolidated Financial Statements. Company OIR filing. * As of 24 April 2024

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