Haya Real Estate reports transaction volumes of €2,737 million in 2021 and €601 million in the first quarter of 2022

• Revenues have reached €198 million in 2021 driving an Adjusted EBITDA of €65.3 million in the year.
• Assets under Management (AuMs) of €29,503 million as of December 2021
• The company has considerably increased its liquidity position to €117.1 million at year-end, having achieved FCF generation up to €90.6 million
• Haya has reached an agreement with the majority of its bondholders to support the implementation of a debt refinancing and recapitalization of the Company, providing stability to the business and strengthen its capital structure
• The Company has also announced the results for the first quarter of 2022, reporting revenues of €43 million driving an Adjusted EBITDA of €11.1 million

April 22^nd, 2021, Madrid. Haya Real Estate (“Haya”), the Spanish market leader in the management of real estate debt and property assets, announced today its financial results for the full year 2021, reporting transaction volumes of €2,737 million, an increase of 15% compared to 2020 due to the recovery of the business activity and the strong momentum in real estate market. The Company manages €29,503 million in Assets under Management (AuMs) as of December 2021.

Revenues have reached €197.8 million in 2021, which have driven operating results (Adjusted EBITDA) to €65.3 million, an increase of 25% YoY. Business performance, together with the Transformation Plan and cost efficiency measures implemented by the Company, have allowed to maintain an Adjusted EBITDA margin of 33%.

Haya reported a solid Free Cash Flow of €90.6 million at the end of 2021, an increase of 48% YoY driving an increase of its liquidity position from €54 million as of December 2020 to €117.1 million as of December 2021.

First quarter 2022 results

The Company has also announced today the results for the first quarter of 2022, reporting transaction volumes of €600.6 million. Haya manages €28.5 billion in Assets under Management (AuMs) as of March 2022.

Revenues have reached €43 million driving operating results (Adjusted EBITDA) to €11.1 million in the first quarter of 2022.

Haya has reached a Free Cash Flow of €14.5 million at the end of the period consolidating its strong liquidity position of €124.8 million as of March 2022.

Haya ́s Business Update

The Company expects to maintain activity volumes in 2022 despite the termination of Unicaja and Sareb contracts based on real estate market conditions and a partial recovery of NPL business. The migration of those two contracts will be completed during the first semester, as both will end in June 2022.

On the other hand, Jaguar portfolio, the REOs servicing contract signed with Cerberus, will start to contribute in 2022 to Haya’s business.

Additionally, the Company has launched a third phase of its Transformation Plan, which aim to improve Haya’s competitiveness and reinforce its capabilities. These initiatives include new approaches in commercial areas, cross-processes, and enhanced IT functionalities.

Refinancing and Recapitalization Process

As of March 2022, Haya Real Estate has achieved an agreement with over 95% of its bondholder base to support the implementation of a debt refinancing and recapitalization of the Group. It is a key milestone which will allow Haya to refinance its debt and strengthen its capital structure. The process is expected to close in the second quarter of 2022 with the issuance of the new notes, eliminating short-term refinancing risk and providing stability to the business.

Labour restructuring process

As a result of the termination of Sareb’s and Unicaja’s contracts notified in December 2021 and February 2022 respectively, Haya has launched a process to restructure its workforce, with the aim to adapt its structure to the new situation and the challenging servicing market environment, while continuing to provide high-quality service to its clients.

The conversations with Unions have already begun and the Company will look forward to finding the best outcome for all parties implied.

Enrique Dancausa, CEO of Haya, said: “Financial results of 2021 reflects the recovery of our business activity and the strong market conditions in real estate sector. Moreover, the agreement with our bondholders reinforces the long-term confidence in our business, which is currently facing a challenging environment. In that context, we need to adapt and strengthen our competitive capabilities supported by the new initiatives established in our Transformation Plan to ensure best-quality service for our clients and develop new business opportunities in the market”.

About Haya Real Estate

Haya is the leading company in the management of Non-Performing Loans and Real Estate Owned assets (NPLs and REOs, respectively) in Spain. The company manages assets as well as financial and real estate vehicles for a wide variety of clients, from financial institutions to international investors. In total, Haya is responsible for €28.5 billion of AuMs (Assets under Management) as of March 2022.

Haya offers products and services covering the entire value chain of NPLs and REOs. Its NPL services focus on the management of corporate or individuals’ debt, with a high degree of specialization in the valuation, management and recovery of loans and the conversion of non- performing loans into real estate owned assets. Real estate services are delivered to a portfolio of ~186,000 assets, and they range from asset boarding, property management, maintenance and valuation to its commercialization. Haya's services are fully integrated into the lifecycle of each NPL / REO, and also involve portfolio advisory and underwriting capabilities, rental management, land management, completion of works in progress.

Haya’s main clients include financial institutions such as BBVA, Caixabank, Cajamar, Sareb, Unicaja and international investment funds such as Cerberus Capital Management. The company employs ~831 professionals, featuring an extensive sales network that covers the entire Spanish geography. Haya has invested in cutting-edge technology, data analysis and IT tools focused on industrialization, process efficiency and performance delivery which are key to deal with current market environment.

Financial results presentation conference details

Enrique Dancausa, CEO of Haya, and Álvaro Badiola, CFO, will host a conference call today to present the results, which will be simultaneously broadcast over the internet, at 11:00 AM (Central European Time).

To participate in the conference, please dial in:

• Spain: +34 911 140 101
• United Kingdom: +44 20 7194 3759
• United States: +1 646 722 4916
• PIN: 82367448#

The conference call can also be accessed via webcast at:

Contact details:

Investor Relations:

+34 917 929 777
ir@haya.es

Media relations:
Kreab.

+34 91 702 71 70
hre@kreab.com