Stability and strong financial performance – MLP Group reports a 28% increase in FFO after 3Q 2025

• Revenue of PLN 307.3 million (+10% y/y), EUR 72.5 million (+12% y/y)
• EBITDA excluding the effect of revaluation at PLN 159.3 million (+13% y/y),
  EUR 37.6 million (+14% y/y
• Fair value of investment properties at PLN 6,031.3 million (+9% vs 31 December 2024),
  EUR 1,412.7 million (+9% vs 31 December 2024)
• Net Asset Value (NAV) of PLN 2,831.6 million (+3% vs 31 December 2024),
  EUR 663.3 million (+3% vs 31 December 2024)
• NAV per share: PLN 118.0 (+3% vs 31 December 2024),
  EUR 27.6 (+3% vs 31 December 2024)
• Net profit: PLN 89.8 million (vs PLN 265.1 million in 1–3Q 2024),
  EUR 21.2 million (vs EUR 61.6 million in 1–3Q 2024)
• Lease contracts signed since the beginning of the year for approximately 189,000 sqm of space

Stable growth and strong operational efficiency

In the first three quarters of 2025, MLP Group generated EUR 72.5 million in consolidated revenue, representing a 12% year-on-year increase. EBITDA excluding revaluation rose by 14% to EUR 37.6 million, while FFO (Funds from Operations – a cash-flow metric used to assess the profitability of real estate companies) increased by 28%, confirming the strong ability of the Group’s assets to generate stable cash flows.

– Performance, stability and steady growth are the values that best define our business. The 28% increase in FFO confirms the Group’s strong foundations and the ability of our properties to generate stable, recurring cash flows. Our strategy is built on a high-quality portfolio, long-term tenant relationships and effective risk management. Our business is highly predictable, and we consistently focus on what remains constant – tenant satisfaction, growth in asset value and sustained cash-flow expansion, which form the foundation of MLP Group’s success. Following a very strong third quarter, we expect record leasing volumes in the fourth quarter – the market outlook is very positive, – said Radosław T. Krochta, President of the MLP Group Management Board

Strong financial position and a secure debt profile

MLP Group’s prudent financial policy continues to support a strong liquidity position, enabling the Company to fund its development pipeline while maintaining a fixed cost of debt and a conservative maturity profile. At the end of the third quarter, the net debt to EBITDA ratio rose to 12.7x from 10.7x in the same period of 2024 (an increase of 19%). Given the very strong upward trend in EBITDA, both the net debt to EBITDA ratio and the forward-looking metric (net debt to Run Rate EBITDA) are expected to improve over the coming periods.

Property portfolio and development activity

As at the end of September 2025, the Gross Asset Value amounted to EUR 1,417.7 million, representing a 3% increase compared with 31 December 2024. Over the first three quarters of the year, the Net Asset Value (NAV) rose by 3% to EUR 663.3 million.

Since the beginning of the year, MLP Group has signed leasing agreements covering approximately 189,000 sqm of space. As a result, the Company now holds lease contracts for a total of 1.3 million sqm, concluded with around 195 tenants.

At the end of September this year, the total area under construction and in preparation amounted to 326,800 sqm, while the full development potential of the Group’s landbank (including options) exceeds 2.4 million sqm. To date, more than 1.3 million sqm of modern logistics space has already been delivered. MLP Group’s portfolio remains one of the most modern in Europe – 90% of the buildings have been developed within the last 10 years, and over 60% within the last 5 years.

Operational resilience and long-term tenant partnerships

At the end of the third quarter, the occupancy rate stood at 91%, remaining broadly in line with the level recorded a year earlier. A total of 98% of rents were paid on time, and the tenant retention rate reached 99%, confirming the exceptionally stable and loyal tenant base.

Long-term relationships with business partners – in many cases lasting more than 20 years – form the foundation of MLP Group’s strategy, built on trust, flexibility and shared growth.

MLP Group, a leading European logistics and industrial real estate platform, operates across Europe: in Poland, Germany, Austria and Romania. The Group focuses on the development of Class A logistics parks, including city logistics facilities and large-scale warehouse and industrial buildings, in line with the highest ESG standards and the principles of sustainable development