HBR Realty Empreendimentos Imobiliários S A : 4Q23 Presentation

Earnings Release

Presentation

4Q23

Videoconference

Date: 03-01-2024

At 3pm (Brasília) and

2 pm (New York)

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Hotel Hilton Garden Inn e ComVem Wide

Hotel Hilton Garden Inn

Earnings Release Presentation 4Q23

Disclaimer

• This presentation may contain certain statements that express expectations, beliefs and management forecasts of HBR Realty about future events or results. Such statements are not historical facts, being based on information related to the real estate market, and economic and financial information available so far and on projections related to the market in which HBR Realty is located.
• Factors that may affect HBR Realty's operational and economic and financial performance include but are not limited to: (i) macroeconomic situation (ii) risks associated with real estate activity; (iii) lack of funding to meet our activities and needs; (iv) possible problems of delays and failures in our real estate developments; (v) success of our partnerships; (vi) competitiveness of the real estate sector; (vii) changes in the legislation regulating the sector.
• .
• This presentation was based on information and data available on the date it was made and HBR Realty is not obliging to update it based on new information and/or future events.
• The information expressed in this report should be evaluated by following the Financial Statements and their respective explanatory notes. Operating data and managerial information, including EBITDA calculation, Adjusted EBITDA, were adjusted to reflect the effects of unconsolidated ventures by the Company, adjusted to the participation in each enterprise. Such information was not reviewed by the independent auditors. All IFRS information was extracted directly from the Company's audited Financial Statements and followed international financial reporting standards and standards (IFRS).

Earnings Release Presentation 4Q23

Index

Hotel W São Paulo

4Q23 Highlights	4
Operational Data	5

Current Portfolio and New Businesses	13
Delivery Pipeline	14

ComVem	6		Financial Data	17
HBR Malls	8		Capex and Strategic Assets Sale	23
HBR 3A	11		Gerencial Managerial Indebtedness	24

HBR Opportunities	12		Contact	26

Earnings Release Presentation 4Q23

Highlights 4Q23

The Company's strategy is focused on the real estate development of urban properties, organized into 4 main business platforms that encompass the developed and under

development asset classes:

Performance

ComVem

HBR Opportunities

R$ 36.5 million

Net Revenue growth 0.4%

R$ 30,9 million

NOI growth 3.0%

R$ 151.0 million

Net Income growth 109.3%¹

• growth compared to 4Q22

• result impacted by the change in fair value of investment properties

R$ 66.0 million

Total Sales with 40% of growth

HBR 3A

100% of occupancy in the quarter

Net Revenue grew 2.8%

HBR Malls

R$ 15.8 million

NOI grew 10.6%

+11.6% Growth in Total Sales

R$ 4.2 million Accomodation Gross Revenue

21.1% growth

+6.5% +BOX Self Storage

Growth in Gross Revenue

New Developments

90.1% of construction completed

W SP Hotel with opening scheduled for 2S24

66,0% construction completed

3A Pinheiros with delivery scheduled for the beginning

of 2S24

4

Operational Data

Hotel Hilton Garden Inn e ComVem Wide

Earnings Release Presentation 4Q23

Operational Data

• Total of 32 Assets with more than 39 thousand sqm of total GLA in operation and 31 assets under development with more than 73 thousand sqm of total GLA;
• Growth of 40.4% in Total Sales and 17.2% in the SSS criteria (4Q23 vs 4Q22);
• Growth of 10.4% in Total Rents and a reduction of 10.8% in the SSR criterion (4Q23 vs 4Q22); and
• Growth of 11.9% in the Adjusted SSR criterion without the effect of HBR12 - Link Office, Mall & Stay in Rio de Janeiro.

	Occupancy Rate						Sales
		(%)
				R$ Million			+40.4%
84	81	82	84	84			+17.2%
			66.0
				46.2	47.0	54.1

4Q22	1Q23	2Q23	3Q23	4Q23
4Q22	4Q23

SSS Total Sales

Rents

+10.4%

R$ Million	+11.9%

-10.8%

5.0		5.6	6.2
3.8	4.4	4.3
	4T22		4T23

SSR SSR Adjusted Total Rents

6

Earnings Release Presentation 4Q23

Operational Data

Total GLA in Operation

sqm

39,636

5,5894

34,249

34,249

+24%

31,993	32,076	2,173³
	82²
3,975¹

4Q22

1Q23

2Q23

3Q23

4Q23

¹Inclusion of ComVem Olinda and acquisition of ComVem Brascan Open Mall; ²Inclusion of ComVem Faria Lima;

³ Inclusion of 2,100 sqm in GLA at ComVem Olinda with a new opperation;

4Inclusion of ComVem Vila Madalena, ComVem Patteo São Paulo and ComVem Limão.

7

Earnings Release Presentation 4Q23

Operational Data

32º Aniversário Mogi Shopping

32nd Birthday

The indicator reaches its highest level in 2023 and is consolidated at 93%, which represents stability compared to the same period of the previous year, and growth of 1 p.p. versus 3Q23.

Mogi Shopping

Occupancy Rate

Malls (%)

			98
93			97
92	92	93
		91
				87

4Q22	1Q23	2Q23	3Q23	4Q23	4Q22

Occupancy Rate by Asset (%)

99

98	97
97	97	98

86 86 87

84 848

1Q23 2Q23 3Q23

99

99

86

82

4Q23

32nd Birthday

Mogi Shopping

Earnings Release Presentation 4Q23

Operational Data

Growth in total sales of 11.6% and in the SSS criteria 4.2%, highlight for Patteo Olinda (+6.6%) and Suzano (+6.5%) shopping malls.

Total Sales by Asset

SSS by Asset

+11.6%

R$ Million

R$ Million

+4.2%

+6.0%

+13.7%

488.0

437.3

+8.2%

13.9

+1.4%

+6.5%

405.6 422.4

+6.6%

Mogi

Suzano

Olinda

Urupema

Sales Totals

4Q22 4Q23

Mogi	Suzano		Olinda	SSS
						Totals
			4Q22		4Q23	9

Earnings Release Presentation 4Q23

Operational Data

Growth in total rents of 14.9% and in the SSR criteria 3.3% versus 4Q22.

Total Rents by Asset

SSR by Asset

R$ Million

-4.1%

+5.3%

+14.9%

28.8

25.1

+1.9%

R$ Million

+3.4%

+5.1%

+3.3%

17.4 18.0

+1.5%

3.9

Mogi

Suzano

Olinda

Urupema

Rents Totals

4Q22 4Q23

Mogi	Suzano		Olinda	SSR
						Totals
			4Q22		4Q23	10