S IMMO : Interim Report Q2 2023 (

Interim Report as of 30 June 2023

Q2

2023

Key figures

Revenues

EBITDA

EBIT

EBT

Net income for the period

NOI ratio

FFO I

Earnings per share

Operating cash flow

Operating cash flow per share

Cash flow from investing activities

Cash flow from financing activities

Total assets

Equity

Equity ratio

Liabilities1

Cash and cash equivalents as of 30 June1

Closing price as of 30 June

EPRA NTA per share

Book value per share

Share price discount on book value per share

Property assets1

of which properties under construction and undeveloped land

S IMMO - Interim Report as of 30 June 2023

		01.01.-30.06.2023	01.01.-30.06.2022
EUR m	161.4		119.6
EUR m	68.1		48.9
EUR m	-17.4		64.8
EUR m	-39.3		65.0
EUR m	-40.2		61.9
in %	52.2		52.3
EUR m	49.9		29.3
EUR	-0.48		0.88
EUR m	65.4		26.5
EUR	0.93		0.38
EUR m	225.6		285.9
EUR m	0.3		-100.4

		30 June 2023	31 December 2022
EUR m	3,645.6		3,774.4
EUR m	1,734.2		1,780.3
in %	47.6		47.2
EUR m	1,911.4		1,994.1
EUR m	551.0		278.9
EUR	12.20		12.48
EUR	25.20		26.09
EUR	23.52		24.07
in %	-48		-48
EUR m	2,849.2		3,273.8
EUR m	88.3		86.4

1 Including held for sale

Key figures // Contents

1

Contents

p. 2  - Letter from the management p. 4  - S IMMO in the capital market

Interim management report p. 10  - Economic report

p. 15  - Risk management report p. 17  - Outlook

Consolidated interim financial statements­

p. 18  - Consolidated statement of financial position

as of 30 June 2023

p. 20  - Consolidated income statement

for the six months ended on 30 June 2023

p. 21  - Consolidated statement of ­comprehensive income

for the six months ended on 30 June 2023

p. 22  - Consolidated income statement

for the three months ended on 30 June 2023

p. 23  - Consolidated statement of comprehensive income

for the three months ended on 30 June 2023

p. 24  - Consolidated cash flow statement

for the six months ended on 30 June 2023

p. 26  - Changes in consolidated equity

p. 27  - Notes to the consolidated interim financial statements

p. 35  - Declaration of the Management Board pursuant to section 125 (1) item (3)

Austrian­ Stock Exchange Act (Börsegesetz)­ p. 36  - Financial calendar 2023

p. 37  - Contact/publication details

2

In summing up the first half of 2023 in this report and ­issuing an outlook for the remaining months, we are aware that the general conditions are undeniably difficult. You are familiar enough with the current market conditions - rising interest rates, persistent inflation, the war in Ukraine - which ­naturally also affect the real estate sector. In particular, inflation and high interest rates are creating an economic environment that is challenging for our sector.

The effects of this macroeconomic situation are also evident in this report. This relates in particular to the valuation result, since it is unfortunately unavoidable to carry out devaluations in some markets in the current environment. However, this is countered by a stronger-than-average operating result, of which we are particularly proud. We managed to increase rental income sig- nificantly, while the result from hotel operations also saw a considerable improvement. The gross profit of EUR 86.0m was therefore considerably higher than the prior-year level (EUR 63.4m) - a sign that our strategy of increasingly investing in high-yielding properties is having a very positive impact on our profitability. As a result of the above-mentioned devaluations due to market conditions in the amount of EUR -80.0m, net ­income for the period as of 30 June 2023 came to EUR -40.2m.

Our operating result thus impressively demonstrates that our business model and day-to-day work with our properties are bearing fruit, even if the conditions to fully reap this success are not yet in place at present.

S IMMO - Interim Report as of 30 June 2023

Capital market

The continuing uncertainty can be felt on the international capital markets, as well, although signs of a gradual recovery are emerging slowly. In the first half of 2023, the S IMMO share mostly tracked sideways and was trading at EUR 12.20 as of 30 June 2023 - corresponding to a year-to-date performance of -2.24%. At the beginning of the second half of the year, we successfully placed another green bond with a volume of EUR 75m, a term of five years and a coupon of 5.5% p.a. This not only

re­ affirms­ our lasting commitment to ESG issues, but also emphasises our strong standing on the Austrian capital market.

Herwig Teufelsdorfer

Letter from the management

3

Strategy

Our strategy of selling German residential and commercial properties outside of Berlin is being implemented on an on­ going basis. Since the strategy update in the autumn of the previous year until 30 June 2023, sales contracts have been signed for a total of 167 properties with a total volume of EUR 617m (the closings of some of the transactions are still in progress). The possibility of selling further German properties with a total value of over EUR 340m is also being examined. In addition, we are also evaluating several sales in Austria and the CEE region.

The liquidity gained is to be used primarily for the purchase of higher-yielding properties. We have already taken a lot of action in this respect, too. In April, we finalised the purchase of three office properties and a hotel in the Czech Republic worth EUR 167.7m. The purchase of the Twin Towers in Vienna was then closed in early July. This office property has a gross rental space of around 66,000 m² and generates annual rental income of EUR 12.6m. These acquisitions will make a significant contribution to boosting our rental income in the future, too, and safeguarding our profitability in the long term.

Outlook

Firm predictions remain difficult due to the macroeconomic

situation­ and geopolitical events. The duration of the war in Ukraine, the course of international interest-rate policy and further developments regarding inflation are very hard to forecast reliably. As described above, our key factors are continuity and our core business: purchasing, letting and managing high-yield properties to boost cash flow on a lasting basis.

Radka Doehring

In addition, you will no doubt have noticed that we are writing to you with a new lineup. Radka Doehring joined the Management Board of S IMMO in mid-June. Together, we are working hard to create added value for all investors. As always, we would like to take this opportunity to thank you for the trust you have placed in us. We would also like to thank Holger Schmidtmayr, who left the Management Board of S IMMO AG in mid-June, for his

dedication­ and his service to the company.

The Management Board team

Herwig Teufelsdorfer

Radka Doehring