Activity at end-September 2026: accelerating organic revenue growth supported by strong operational execution

Solid execution continues into Q3

• Offices: strong commercial activity with 149,400 m² let or renewed over 9 months, of which 45,600 m² in the third quarter; leases secured at prime rents at CB21, Beige and Grands Boulevards
• German residential: structurally high occupancy rate, at 98.4%; c. 20% positive reversion on relettings
• Hotels: continued execution on asset management initiatives with the operator change in Germany, two management contracts signed for office-to-hotel conversion projects and one refurbishment project launched in Toulouse during the quarter

Organic revenue growth accelerates: +2.7% like-for-like over 9 months

• 531 M€ in Group share revenue (804 M€ at 100%), broadly stable at current scope (down -0.4% year-on-year) and up +2.7% on a like-for-like basis, compared with +2.2% in H1 2026
• Offices: like-for-like rental growth accelerates vs H1 2026, to +2.5%
• German residential: sustained like-for-like revenue growth of +3.4%
• Hotels: like-for-like revenue growth of +2.0%, including +2.6% in variable revenues

Proactive financing strengthens balance sheet and financial flexibility

• Successful 500 M€ green bond issuance in July, with a 7-year maturity and a 105 bps margin
• New 100 M€ revolving credit facility, with a 7-year maturity
• High liquidity of 1.9 Bn€, covering all debt maturities through June 2029
• Over 300 M€ of proceeds from secured disposals expected to be collected over the coming months
• Diversified and well-spread debt maturity profile, with an average cost of debt expected at c. 2.5% through 2029, and nearly 80% of debt hedged through 2030

ESG: Covivio continues to be the leader in its sector

• Covivio recognized by GRESB: score up +0.7 pts to 91.7/100, maintaining its 5-Star status and leading position in the Standing Investments (Operations) category
• Ratings confirmed: ‘AAA’ MSCI, ‘B+’ and Prime Status from ISS ESG, and EPRA sBPR Gold Award

2026 guidance confirmed

• 2026 recurring net result (adjusted EPRA Earnings) guidance of around +4% per share compared to 2025