Gecina – 2025 Earnings: Delivering Growth

| Key takeaways

• Making the difference with the right products

‒ The Group develops destination headquarters for large corporates and accelerates the successful rollout of its fully managed offices tailored to SMEs and project teams, while the return to the office is confirmed and expected to reach 4 days per week in Paris in 2026

• Solid operational momentum

‒ Doubling leasing performance against 2024: 150,000 sq.m of office space let in 2025, at a +8% rental uplift in average, confirming our ability to lease assets on the prime segment of every submarket, giving visibility over the future. On the residential side, 1,720 leases were signed (triple 2024 levels)

‒ High and rising occupancy reaching 94.1%, notably in the CBD office portfolio and in housing

‒ CSR: 2025 intermediate milestones exceeded, reducing energy consumption by –33% and carbon emissions by –63% since 2019

• Accretive capital allocation in action: €1.8bn of rotation in 2025 with disposals amounting now to €3bn at 2.9% in average over 5yrs

‒ €0.8bn of timely disposals of mature residential assets in 2025 (2.1% yield for traditional housing, 3.9% for student housing), illustrating Gecina’s ability to leverage portfolio quality and liquidity to crystallize value and capture premiums. An additional €0.2bn of secured disposals expected to close in Q1 2026 to fund 2026 development capex

‒ €0.6bn of accretive office investments (6.1% average yield), focused on core locations (c. 10% of the Group’s office rents in central areas), with 67% let or already under term sheet above our initial underwriting

‒ Major pipeline progress, with key deliveries along 2025 on time, on budget and at record rents (including Icône) and the launch of four flagship projects scheduled between Q4 2026 and Q3 2027, expected to generate €80–90m of annual rents with double‑digit incremental yields on capex invested

• Delivering continuous financial growth

‒ EPS up +4.2%, representing +26% since 2021. Performance driven by (1) +2.6% revenue growth (current, +3.8% like-for-like); (2) disciplined cost management (rental margin improved by +310 bps and cost ratio by -270 bps since 2021, continuous optimization of financial costs)

‒ Balance sheet kept strong and healthy with a best-in-class A-/A3 rating reiterated for the 8^th consecutive year

‒ Dividend of €5.50 per share to be proposed at the next AGM, marking a second consecutive increase and reflecting an attractive yield of c. 7% (on the current share price) and a sustainable payout of 82% (interim dividend: €2.75 paid on March 12, 2026; balance: €2.75 paid on July 9, 2026)

• Confidence in long‑term growth

‒ EPS expected to continue growing in 2026 to €6.70–6.75 per share (+0.2% to +1.0% YoY)

‒ Looking ahead: a portfolio well positioned for the next growth cycle, supported by four flagship projects and ongoing platform optimization, combined with continued cost discipline

‒ Raising the bar with new 2030 CSR targets, carbon emissions reduced to below 5.5 kgCO₂/sq.m/year for the operating portfolio (with residual emissions offset) and net‑zero carbon at delivery for assets in development, together with energy‑performance targets of 130 kWh/sq.m/year in operation and 65 kWh/sq.m/year for developments

‒ Future rental income growth provides visibility regarding the medium‑term increase in recurring net income per share. In this context, we expect the company’s dividend to gradually grow over the coming years (2026-2030)

| Beñat Ortega, CEO:

“2025 demonstrates the strength of our platform: we delivered rent growth while executing major rotation moves that enhanced our portfolio quality and sharpened our position in the most resilient, supply‑constrained markets. Our strategy remains simple and effective — prime assets, central locations, energy efficiency, strong balance-sheet, and an unwavering focus on what tenants value most. As we enter 2026, we remain fully committed to disciplined execution, value creation and sustainable growth, raising the bar again with our new 2030 CSR targets. We are building a more resilient, low‑carbon real estate model that can meet the transitions ahead, support revenue growth, and sustain a gradual increase in our dividend”.

Making the difference with the right product

• "Return to office" momentum confirmed from half-year to half-year (4 days/week expected by brokers in 2026-2027 – JLL), illustrated by a declining share of surface contraction in transactions (35% in 2025 vs. 40% in 2024 and 62% in 2022 – Cushman & Wakefield), alongside a clear flight to quality in an increasingly selective market that favors central, prime, and energy‑efficient assets
• Group’s strong focus on delivering real estate products aligned with tenant needs, supported by our unique ability to leverage daily insights from 500+ office clients to continuously refine our offering:

‒ Destination assets for corporate headquarters, located in central areas (including the Paris Region’s largest public transport hubs) featuring large, horizontal floorplates, premium services and amenities, and best‑in‑class CSR credentials. Over the past decade, restructured assets >3,000 sq.m have represented only c. 15% of total supply

‒ Fully managed workspaces for small businesses and project teams, designed for tenants seeking flexibility and hassle‑free real estate solutions coupled with full privacy and white‑label options. This segment accounts for 22.8% of take‑up for just 5.9% of the existing stock

• Gecina’s ability to consistently deliver the assets that tenants genuinely seek is a core competitive advantage, supporting long‑term outperformance and demonstrating the Group’s ability to anticipate and stay ahead of major market transitions

Delivering recurrent net income growth

(1) EBITDA after deducting net financial expenses, recurrent tax, minority interests, including income from associates and restated for certain non-recurring items

• Recurrent net income per share up +4.2%, in line with guidance, giving a +26% increase since 2021 and reflecting disciplined execution across all performance drivers to secure sustainable long‑term growth
• Performance achieved through both revenue growth and strict management of the entire cost base:

‒ Revenue side – sustained momentum (+2.6% current, +€18.1m) supported by both organic growth (+3.8%, including +2.6% of indexation) and active external growth (development (+€30.3m) and acquisitions (+€2.8m) offsetting the revenue impact of mature asset disposals (-€19.4m) and pipeline refueling (-€19.2m)). This reflects the strength of the portfolio in terms of location and asset quality, and its ability to attract and retain tenants to grow rents over time, while actively disposing and investing in new assets

‒ Lasting cost discipline – optimized property costs contributing to an improved rental margin (+80 bps vs. end‑2024), while administrative expenses remain tightly controlled (–4.3%), enhancing our cost ratio while maintaining a broadly stable workforce that is better aligned with the needs of the business (asset management, development, engineering, leasing, customer relationship)

‒ Cost of debt remains low, with net financial expenses broadly stable: slight increase in gross financial expenses partially offset by the ramp‑up of capitalized interest associated with the ongoing development of four flagship projects

Revenue growth driven by strong operational performance

| Like-for-like: rental income up +3.8%, showing continued capacity to outperform indexation

• Solid like‑for‑like rental growth (+3.8%, +€23.5m), supported by indexation (+2.6%, +€16.3m), as well as the Group’s continued ability to outperform indexation through rental uplift (+0.6%, +€3.6m), and better occupancy (occupancy & other: +0.6%, +€3.7m).
• Offices (+3.7%):

‒ Indexation contributed +2.9%, despite a decelerating ILAT (latest publication around 0.0%, after +0.5% in September 2025, +1.6% in June 2025, and +2.7% in March 2025; for reference, ILAT applies to c. 90% of office leases)

‒ Business performance continues to outpace indexation, notably through sustained rental uplift averaging a strong +8% overall (overall contribution of rental uplift: +0.3%). This reflects a positive mix of: significant uplift in central areas (+29% in Paris CBD, supported by recent renewals on Vendôme, Matignon, Marceau and the rollout of fully‑managed offices (+42% rental uplift)), and rent adjustments in other locations

‒ Higher occupancy reinforces momentum, particularly across Parisian assets where occupancy is at record highs. This more than offsets the negative impact from certain assets in other locations (Colombes, Malakoff), where the Group’s exposure is now limited

• Housing (+4.5%): beyond indexation (+1.3%), 12‑month growth is driven by strong rental uplift (+13% on average in Paris) and higher occupancy resulting from the rollout of our diversified offering, now including serviced and furnished apartments within amenitized housing assets

| Current basis: gross rental income up +2.6% (+€18.1m)

• Strong LfL growth (+3.8%, +€23.5m) more than offsetting the rent impact from pipeline refueling (-€19.2m) and selective disposals of mature residential assets (including the student housing portfolio, overall impact: -€19.4m), supported by the full‑year impact of recent deliveries (Mondo, 35 Capucines and Montrouge in 2024, Icône and 27 Canal in 2025) and new acquisitions (“Hôtel Particulier” near Gare Saint-Lazare, closed on July 23 and “Bloom” near Gare de Lyon, closed on December 16)
• Compelling demonstration of the portfolio’s ability to generate sustained rental growth, while rotating and repositioning assets

| Offices: strong leasing across all geographies

• 150,000 sq.m of leases signed (almost double 2024), driven by sustained commercial intensity (visits, negotiations, innovative initiatives), with a performance rooted in strong fundamentals: (1) prime assets continue to outperform, capturing tenants’ demand for top-quality, well located, energy-efficient workplaces, (2) the exceptional diversity of the Paris tenant base reinforcing depth and resilience of the demand across cycles
• Performance across all geographies:

‒ Central areas (Paris/Neuilly): 83,000 sq.m (55% of the total), 6‑yr firm on average, €61.5m annual rent

‒ Western Crescent / La Défense: 30,000 sq.m (20%), 7‑yr firm on average, €14.3m annual rent, incl. extensions or new leases for global leaders (pharmaceuticals in La Défense, Renault or Mondelez in Boulogne)

‒ Other locations: 38,000 sq.m (25%), 6‑yr firm on average, €9.9m annual rent, incl. major lettings or extensions in Puteaux and Colombes (PepsiCo, logistics and communication players)

• Solid forward visibility with €86m of annual rent secured on average 6‑year firm terms, with half through tenant renewals (including leases maturing in 2025, 2026 and 2027) strengthening medium‑ to long‑term revenue resilience
• Strong pre‑letting momentum: 27 Canal largely pre‑let ahead of end‑2025 delivery; 162 Faubourg Saint‑Honoré (CBD, under renovation) fully pre‑let with +87% uplift before its delivery in 2026 ; Sources, Boulogne 59% pre‑let (Mondelez, Opco)
• Market appetite confirmed for fully managed offices in a favorable market segment where demand exceeds supply: with 13,000 sq.m now deployed (10,000 signed in 2025), this offer generates €12m of annual rent and outperforms market rents by +40% without incentives. The roll‑out is continuing toward c. 20,000 sq.m by end-2027 and 40 central assets, showcasing our ability to unlock more value per sq.m with flexible, high‑quality, tenant‑driven solutions

| Housing: diversified offering strategy delivering results

• Sharp and sustained acceleration in leasing activity on the residential portfolio (1,720 leases signed over 12 months), with a first half matching full‑year 2024 and a second half nearly doubling the first six months, and an average rental uplift of +13% in Paris
• Clear evidence of strong market appetite for our new offerings, which meet demand from students, young professionals, corporates and families in a context of limited supply of quality housing (right size, right design, furnished, serviced). Our multi‑offering approach (studios, shared apartments, unfurnished family apartments) and locations close to work, study and social hubs, with excellent connectivity, continue to drive momentum

• Successful transformation of both the operating model and assets, supported by the rollout of a digital platform and new onsite amenities (fitness, coworking, reception rooms, etc.): 12 assets, representing c. 70% of the residential portfolio value, have already been upgraded to scale the offering (now 1,200 serviced apartments), with further deployments in 2026

| Strong rental margin increase (+0.8pts yoy)

• Strong rental‑margin increase on a current basis, driven by the contribution of large, fully let office assets delivered in 2024 and supported by high overall occupancy on this portfolio, the optimization of service‑charge structures in the student‑housing portfolio (held until June 2025), and the increase in occupancy across the residential portfolio (both from the ramp‑up of newly delivered assets and the leasing of serviced apartments within the existing portfolio), as well as the continued optimization of maintenance costs

| High occupancy sustained, demonstrating strong market positioning

• Average occupancy up +70bps (current) since year‑end 2024, confirming strong overall momentum (from 93.4% at end-2024 to 94.1% at end-2025), driven by:

‒ Office portfolio: high and resilient occupancy, reflecting market polarization, with record‑high 97.1% in the extended CBD (vs. 94.6% for the broader market). Supported by new leases on several assets and retail spaces, as well as the also positive contribution from fully pre‑let 2024–2025 deliveries (Mondo, 35 Capucines, Icône). This largely offsets the increase in vacancy in other locations, where the Group’s exposure is limited (Colombes, Malakoff)

‒ Residential portfolio: solid progress throughout the year, with the transformation of the model now in execution mode (smaller, furnished, serviced apartments in central locations), as well as the progressive ramp‑up of assets delivered recently (Dareau, Ponthieu, Rueil Arsenal, Bordeaux Belvédère, La Garenne‑Colombes). Gradual convergence toward normative occupancy levels for this asset class (spot occupancy of 96.4% like-for-like on apartments)

| T1 tower: preparing what’s next

• Framework agreement signed with the tenant to closely monitor the lease end and secure rental income (c. €40m annually) through a series of milestones until mid-2027
• Targeted refurbishment program (c. €150m) leveraging the asset’s strong fundamentals – prime location at the La Défense transport hub and high intrinsic quality (efficient floorplates, abundant natural light, solid CSR performance) – to create a new prime, multi‑tenant building structured into three blocks, each with its own service base (sky lobby, business center, food offering)
• Favorable market outlook, with demand increasingly focused on prime workspace demand expected to outpace supply in this segment by end‑2027

Capital allocation & portfolio strategy in action

| €1.8bn of portfolio rotation decisions in 2025

• €0.8bn of disposals of mature residential assets completed in the first half 2025, including the student housing portfolio (26 assets and one land bank in a regional metropolis) together with the roll-out of our long-term unit by unit disposal programs (€776m at 2.1% net initial yield for traditional residential and 3.9% net initial yield for student housing)
• €0.6bn reinvested in H2 2025 to acquire three large office assets in supply-constrained markets, in immediate proximity to major transport hubs:

‒ Rocher–Vienne (Signature), offering a potential 6.3% yield after a targeted 12‑month refurbishment

‒ Hôtel Particulier, to be integrated with Rocher–Vienne and the already‑owned 7 Madrid to create a cohesive, amenity‑rich business hub

‒ Bloom, in the established business district of Gare de Lyon, fully let on an 8‑year firm average maturity and generating €8.9m of annual rent (6.6% yield)

• €0.2bn deployed into the development pipeline, covering four flagship office projects featuring large, high‑quality floorplates (scarce offering in highly sought‑after submarkets). These developments are expected to be accretive to both NAV and RNI, generating €80–90 million of annual rental income after delivery (Q4 2026 to Q3 2027). With approximately €430m of remaining capex, they offer an attractive average yield‑on‑cost of 5.8%, with incremental yields on capex expected in the 10–11% range

• €0.2bn of additional mature residential disposals secured in December 2025 (Lourmel, Dumas, Bagnolet, Bordeaux Belvédère and additional unit disposals), yielding 2.9%. These disposals are expected to close in Q1 2026 and will be reinvested in accretive development capex

| Performance delivered across the entire cycle (investment, development operations)

• €3.0bn of disposals over five years at a 2.9% exit yield on average (including the disposals currently secured), demonstrating a strong ability to leverage portfolio quality and liquidity to crystallize value and capture premiums (9% on average, €229m in total). This performance highlights Gecina’s unique capacity to target investors even in complex market environments (combining open‑market and off‑market approaches) and to seize market momentum, whether driven by appetite for high‑yielding assets, mature core offices during peak yield‑compression phases, or, more recently, residential and student housing. The average asset size of around €75m (excluding assets >€200m) is key to understand the portfolio’s liquidity and marketability

• €0.6bn of proactive and disciplined acquisitions at a 6.1% average yield, representing more than 10% of the office portfolio rents in Paris/Neuilly. 67% already let or under term sheet six months after acquisition. Performance underpinned by:

‒ Unique leasing insights given Gecina’s dense footprint in central areas

‒ Continuous engagement with investors to source opportunities

‒ Ability to structure smart, deal‑enabling solutions (including past asset swaps)

‒ Recognized capacity to execute transactions

• Distinctive ability to execute complex repositioning projects (€2.8bn of capex deployed over 10 years to transform c. 55% of the office portfolio, of which €1.3bn over the period 2021-2025), achieving leading market rents and an average c. +33% profit‑on‑cost across the last 16 projects delivered In Paris/Neuilly

| Distinctive expertise that has delivered high returns and portfolio quality over time

• Disciplined capital allocation framework that channels disposal proceeds into a 2022-2024 deleveraging phase to keep a future-proof loan-to-value and open up a new cycle of investment, with targeted acquisitions of higher‑yielding assets, and an accretive pipeline of development projects (double-digit return on the capex invested)
• Over time, this unique know-how has translated into improved returns (on the basis of a better risk profile) and a significant upgrade in portfolio quality: greater exposure to the best locations (80% in Paris/Neuilly), more prime assets (92% prime workspaces on the office portfolio), and more sustainability (100% of the operating office portfolio certified)

Asset values: continued growth supported by core markets

| Portfolio values up +2.3% on a like-for-like basis

(1) Change before the impact of the increase in transaction costs. After this change, values are up +1.9% (like-for-like).

• Portfolio values up +2.3% since end‑2024 on a like‑for‑like basis (excluding the impact of the change in transfer tax rates in H1 2025), bringing the overall portfolio value to €17.6bn. This reflects both underlying positive valuation trends and the impact of the active investment strategy

‒ Yield effect slightly positive, supported by early signs of a potential reopening of the investment market for large office transactions in core Paris locations (overall investment volumes up +54% vs 2024). Yield decompression continues to slow in other areas where investment activity remains subdued

‒ Rental effect remains supportive, particularly in central locations. Rent‑growth expectations continue to underpin values in Paris and Neuilly, while trends remain more moderate in secondary areas where rental values are still adjusting

• Values up +3.0% since the trough, confirming the consistent upward trend observed each half-year period since end‑2023, driven by gains in Paris and Neuilly, which continue to offset ongoing adjustments in other locations due to muted investment volumes and rents adjustments to secure occupancy

| EPRA NAV (NTA) up +0.9% vs end-2024 to €144.1 per share

• EPRA NAV (NTA) is up +€1.3 per share since December 31, 2024, reaching €144.1, supported by like‑for‑like growth in portfolio values year‑on‑year. This uplift was partly offset by the non‑recurring impact of the transfer‑tax rate change (already recognized in H1 2025), in a context where pipeline projects are not yet advanced enough for value creation to be reflected, and where the full value uplift on recent acquisitions is not yet fully captured:

‒ Dividend paid in 2025: -€5.45

‒ Recurrent net income: +€6.68

‒ Portfolio value: +€2.2

‒ Other (including IFRS 16 and transfer tax rate change): -€2.2

Financing platform: built to perform through the cycle

| Strong and healthy financial structure

• Best‑in‑class credit profile, with the Company’s rating (A-/A3) consistently reiterated for eight consecutive years (recognition of steady cash‑flow generation, disciplined investment and financial management) providing access to more competitive financing conditions (average spread differential vs. BBB+: 30 bps under normal conditions)
• Best‑in‑class LTV: 36.0% incl. duties, brought down to a low and broadly flat 35.2% following the completion of secured disposals by end‑2025. Gecina EPRA LTV -660 bps below continental peers average at June 30
• Net debt broadly stable at €6.8bn (+€0.2bn), supported by a long average maturity of 6.2y
• Ample liquidity of €4.4bn in undrawn credit lines and cash, providing strong short‑, medium‑ and long‑term flexibility and covering all bond maturities through 2029

| Robust and high‑quality hedging profile

• €485m mark‑to‑market on fixed‑rate debt and financial instruments at end-2025, underscoring the quality of the hedging strategy (both the high proportion of hedged debt and the attractive rate at which it is hedged)
• This mark-to-market amount represents 7.2% of the Group’s net debt vs 3.3% on average for continental peers, providing strong visibility over future financing costs
• Low cost of debt (1.6% in total, 1.3% for drawn debt) locked in early, ahead of market rate increases, and secured over longer maturities

| Successful 2025 issuance, confirming the market’s confidence in the Group’s credit quality

• €500m 10‑year green bond issued end-July 2025 at a tight 85 bps spread over the 10‑year midswap, with a 3.375% coupon, close to the French 10‑year OAT
• Strong market demand with a 7x oversubscription from a broad, diversified pool of financial partners
• Operation that enhances visibility and strengthens the Company’s credit profile through the proactive optimization of the debt schedule, including the early repayment of parts of the 2027 and 2028 maturities

CSR performance

| All 2025 objectives achieved

• Continuation of the three‑pillar strategy

‒ Reduce: asset‑level energy efficiency programs, including on‑site audits, tailored action plans, and strengthened tenant partnerships

‒ Switch: 80% renewable energy sourced through green power contracts, urban cooling/heating networks, and biogas solutions

‒ Transform: CSR criteria embedded in targeted capex decisions, on top of a low‑energy/low‑carbon development pipeline progressively upgrading overall portfolio performance

• 2025 energy and carbon targets exceeded

‒ 33% reduction in energy consumption since 2019 (148.5 kWh/sq.m/year vs. an initial target of 150 kWh/sq.m/year)

‒ 63% reduction in carbon emissions since 2019 (7.5 kgCO₂/sq.m/year vs. the 2025 target of 8.5 kgCO₂/sq.m/year)

‒ 100% of office assets certified, both in operation and under development

| Raising the bar with new 2030 CSR targets

• Portfolio in operation:

‒ Carbon reduction target: <5.5 kgCO₂/sq.m/year (-75% vs 2019) with a plan to offset residual emissions

‒ Energy performance target: 130 kWh/sq.m/year (-41% vs 2019)

‒ 100% of office assets certified, with continuous improvement of certification levels

• Assets in development:

‒ Net‑zero carbon at delivery

‒ Energy performance target: 65 kWh/sq.m/year

‒ Highest certification standards achieved, at the best levels available

Guidance, outlook & dividend

| 2026 guidance: RNI per share expected to grow to €6.70–€6.75

• Macro: low indexation (lag effect of slower inflation on leases), in a context where French economy is consolidating supported by domestic demand and investment, and better-oriented business confidence (last PMI activity index moving back out of contraction territory)
• Leasing: sustained tenant preference for prime, well‑connected, high‑quality, service‑rich assets across all submarkets, deepening market bifurcation and driving rental uplift in Paris, strengthened by the expansion of our operated real estate models
• Revenues: organic growth reflecting the indexation context, rental uplift dynamics and the temporary vacancy increase in transitioning markets; full‑year contribution from 2025 deliveries (Icône, 27 Canal) and recent acquisitions (Hôtel Particulier for €5.6m of annual rent since July and Bloom for €8.9m since December 2025); impact from the disposal completed in 2025 and early‑2026 disposals to come (three mature residential assets, c. €214m at 2.9%)
• Cost discipline: continued strict control of property and general & administrative costs; financial expenses expected to remain broadly stable, supported by a robust hedging policy and a steady mix of gross financial expenses and capitalized interest, in a context where the pipeline has been replenished following the 2024 and 2025 deliveries
• Recurrent net income per share (Group share) expected to be up +0.2% to +1.0% at €6.70-€6.75.

| Medium-term outlook: towards a new cycle of growth

• 2027 - Getting ready: progressive recovery in indexation, continuous capacity to capture rental uplift in central areas, half‑year impact of Engie’s departure from the T1 tower (€40m of annual rents) progressively offset by the rent contribution from the four flagship assets delivered between end‑2026 and Q3 2027 (€80–90m of annual rents). Around 85% of debt remains hedged at 2025 conditions (all else equal); capitalized interest begins to decrease as pipeline deliveries ramp up
• 2028 - Unlocking growth: context of normalized indexation and occupancy, with full‑run contributions from the four assets delivered in 2026–27, and progressive leasing of the T1 tower over 24 months in La Défense market with scarce supply of large, high‑quality, amenitized floorplates. Approximately 70% of debt remains hedged at 2025 conditions (all else equal)
• 2029 - Accelerating growth: further growth under normalized indexation, supported by a potential pipeline refueling and increasing rent contribution from the T1 tower (c. €30m of annual rents once fully let). Around 58% of debt remains hedged at 2025 conditions (all else equal)

• General & administrative costs: disciplined cost management and targeted resource reallocation toward asset management, leasing, engineering and customer experience

| Dividend: capacity to sustain distribution over time and gradually grow the dividend

• Dividend of €5.50 per share, paid fully in cash, up for the second consecutive year (+€5ct, +1%), reflecting a sustainable 82% payout ratio, subject to approval at the Shareholders’ General Meeting
• Calendar:

‒ Interim dividend: €2.75 paid on March 12, 2026 (ex‑date: March 10; record date: March 11)

‒ Balance: €2.75 paid on July 9, 2026 (ex‑date: July 7; record date: July 8)

• Attractive c. 7% dividend yield (on current share price), supported by a resilient, cycle‑proof business model capable of sustaining the distribution policy and delivering gradual dividend growth year after year over the next cycle. This is underpinned by steady cash‑flow generation driven by active revenue development, disciplined cost management (property and structure costs), and a financing strategy designed for long‑term strength
• The future growth in rental income provides visibility on the medium‑term increase in recurring net income per share. In this context, we anticipate the company’s dividend to gradually grow in the coming years (2026-2030)

Financial agenda

- 04.22.2026 General Meeting

- 04.22.2026 Business at March 31, 2026, after market close

- 07.22.2026 2026 first-half earnings, after market close

- 10.14.2026 Business at September 30, 2026, after market close

About Gecina

Gecina is a leading operator that fully integrates all real estate expertise, owning, managing, and developing a unique prime portfolio valued at €17.6bn as at December 31, 2025. Strategically located in the most central areas of Paris and the Paris Region, Gecina’s portfolio includes 1.2 million sq.m of office space and nearly 5,300 residential units. By combining long-term value creation with operational excellence, Gecina offers high-quality, sustainable living and working environments tailored to the evolving needs of urban users.

As a committed operator, Gecina enhances its assets with high-value services and dynamic property and asset management, fostering vibrant communities. Through its YouFirst brand, Gecina places user experience at the heart of its strategy. In line with its social responsibility commitments, the Fondation Gecina supports initiatives across four core pillars: disability inclusion, environmental protection, cultural heritage, and housing access.

Gecina is a French real estate investment trust (SIIC) listed on Euronext Paris, and is part of the SBF 120, CAC Next 20 and CAC Large 60 indices. Gecina is also recognized as one of the top-performing companies in its industry by leading sustainability rankings (GRESB, Sustainalytics, MSCI, ISS-ESG, and CDP) and is committed to radically reducing its carbon emissions by 2030.

www.gecina.fr

Appendices

| Financial statements, net asset value (NAV) and pipeline

At the Board meeting on February 10, 2026, chaired by Philippe Brassac, Gecina’s Directors approved the financial statements at December 31, 2025. The audit procedures have been completed on these accounts, and the verification reports have been issued. The full consolidated financial statements are available on the Group’s website

| Condensed income statement and recurrent income

(1) EBITDA after deducting net financial expenses, recurrent tax, minority interests, including income from associates and restated for certain non-recurring items

| Consolidated balance sheet

| Net asset value

| Development pipeline overview

EPRA reporting at December 31, 2025

Gecina applies the EPRA⁽¹⁾ Best Practices Recommendations regarding the indicators listed hereafter. Gecina has been a member of EPRA, the European Public Real Estate Association, since its creation in 1999. The EPRA Best Practices Recommendations include, in particular, key performance indicators to make the financial statements of real estate companies listed in Europe more transparent and more comparable across Europe.

Gecina reports on all the EPRA indicators defined by the Best Practices Recommendations available on the EPRA website. When they are not applicable, the lines of the tables defined by EPRA do not appear below.

Moreover, EPRA defined recommendations related to corporate social responsibility (CSR), called “Sustainable Best Practices Recommendations”.

(1) European Public Real Estate Association.

| EPRA earnings

The table below indicates the transition between the consolidated net income and the EPRA earnings:

| Net Asset Value