PPHE Hotel Group Limited

Good morning ladies and gentlemen and welcome to the PPHE Hotel Group investor presentation. Questions are encouraged, they can be submitted at any time via the Q&A tab that's just situated on the right hand corner of your screen. Please just simply type in your questions and press send. The company announced a strategic review in November 2025 which remains ongoing and as a result management may not be in a position to answer all of your questions today. Before we begin, as usual, we would just like to submit the following poll. And if you could give that your kind attention, I'm sure the company would be most grateful. And I would now like to hand you over to the team from PPHE Hotel Group. Greg, good morning, sir.

Good morning. Thank you, Jake. So good morning and welcome to our 2025 full year annual results. I'm Greg Hegarty, Co-CEO of the PPHE Hotel Group. I'm joined today by Daniel Kos, our CFO, and Robert Henke, our EVP of Commercial. 2025 was another solid financial strategic year of progress. We delivered a great result despite a volatile macro environment. But before we go a little deeper, I think it would be good just to share with you a few highlights of the year. you

Good morning, everyone. I just wanted to spend a few minutes introducing PPHE Hotel Group. If you're not familiar with our company, we are a real estate company active in the hospitality industry. And what makes us unique in the hospitality industry? So what we do as a business is we own properties, we develop assets, we also operate the products when they are delivered. We were first created in 1989 and have been listed on the London Stock Exchange since 2007. We are currently included in the FTSE 250 and the APRA and EREIT index. As a portfolio, we cover 18 different markets, of which London, Amsterdam and a Croatian destination called Pula are our primary markets. We have exposure through asset ownership in seven capital cities today. So that is London, Amsterdam, Berlin, but also Rome, more recently Zagreb and Belgrade and Budapest. Within London, which is our primary market, we are one of the largest owner-operators of upper upscale assets, and we have just over 3,700 rooms within central London, as well as some of the largest meeting and event spaces in the city. uh what sets us apart as i said before is that we own the operating platform and as we go through the presentation today we'll talk more about what the platform does uh how it's structured and why that is beneficial so i'm moving on to some of the more detailed slides as i mentioned we we have property exposure across different geographies we're active in eight countries uh that's the uk netherlands croatia as i mentioned as well as markets like germany austria more recently italy and we have about 50 properties in operation today as well as a solid pipeline of new projects with four projects in london all with planning permission so that's our longer term pipeline We have just under sort of 15,000 units in our business, which consists of 10,000 rooms, as well as about five and a half thousand pitches and mobile homes in a Croatian leisure destination. Every year we have all of our assets valued externally. And the valuations on the back end of 2025 came in at £2.2 billion. The employee count in our business is about 4,500 employees with head offices in the UK, in London, as well as in Amsterdam, Berlin and in Pula in Croatia. And the exposure that investors have is to owning assets, but also the operating side of our business and then development. So we're fully integrated and a one-stop shop as a result. This model shown here on this chart basically demonstrates how we create investor value. So what we like as a company is to buy assets with development potential or land sites. We develop hospitality products. We then operate these hotels and we extract some of the value from these assets to reinvest into the next investment opportunity. And this is a journey that we've been on for well over 35 years with strong shareholders returns to demonstrate the success of this business model. Greg, over to you quickly on the GAPEX. Thank you.