Slide 1: Annual results 2016/2017
Annual results 2016/2017 30 June 2017 Brussels, 5 September 2017 -1-
Slide 2: Table of contents
Table of contents > Highlights FY 2016/2017 > Strategy > Achievements > Portfolio analysis > Financials > Shares & shareholders > Outlook > Conclusion -2-
Slide 3: Highlights FY 2016/2017
Highlights FY 2016/2017 -3-
Slide 4: Highlights FY 2016/2017 (1)
Highlights FY 2016/2017 (1) > Real estate portfolio of €1.5 billion, an increase of approx. €400 million compared to 30 June 2016 > EPRA Earnings per share: €3.15, +30% YoY > Investments since March 2017 capital increase: €371 million > Senior housing: close to 82% of the portfolio, totaling €1,244
Slide 5: Highlights FY 2016/2017 (2)
Highlights FY 2016/2017 (2) > Occupancy rate: 98.7% for the unfurnished portion and 73.5% for the furnished portion > Weighted average lease term: 20 years > Debt-to-assets ratio: 40.8 % > Change in FV of investment properties: +€10 million > Dividend proposed: €2.25 gross per share*, representing a
Slide 6: Investment activity - Belgium
Investment activity - Belgium FY 2016/2017 (As of 30 June 2017) > 11 additions > 9 completions − Oosterzonne (Zutendaal) − Villa Temporis phase I (Hasselt) − De Witte Bergen (Lichtaart) − Au Bon Vieux Temps (Mont- − Seniorenhof (Tongeren) Saint-Guibert) − Beerzelhof (Putte) − Vinkenbosch (Hasselt) −
Slide 7: Investment activity - Germany
Investment activity - Germany FY 2016/2017 (As of 30 June 2017) > 7 additions − Am Kloster (Saxony-Anhalt) − Rosenpark (Bavaria) − Patricia (Bavaria) − St. Anna (Bavaria) − Frohnau (Berlin) − Residenz Zehlendorf (Berlin) − Seniorenresidenz Laurentiusplatz (North Rhine-Westphalia) -7-
Slide 8: Investment activity - The Netherlands
Investment activity - The Netherlands FY 2016/2017 (As of 30 June 2017) > 9 additions − Genderstate (Eindhoven) − Petruspark (Eindhoven) − Parc Imstenrade (Heerlen) − Spes Nostra (Vleuten) − Het Dokhuis (Oude Pekela) − Villa Walgaerde (Hilversum) − Het Gouden Hart (Kampen) − Huize Dennehof (Drieberg
Slide 9: Investment activity Q1 2017/2018
Investment activity Q1 2017/2018 (As of 5 September 2017) > 2 additions − Seniorenheim am Dom (Halberstadt, Germany) − Huize Hoog Kerckebosch (Zeist, The Netherlands) > 1 turnkey project to be delivered − Huize De Compagnie (Ede, The Netherlands) > Co-operation agreements for the construction of 19
Slide 10: Portfolio outlook
Portfolio outlook (As of 5 September 2017) > Total Portfolio outlook: ~ €1,903 m − €1,528 m (marketable investment properties incl. assets classified as held for sale, as of 30 June 2017) − - €4 m (assets classified as held for sale) − + €122 m (committed investments in pipeline, as of 30 June 2017)
Slide 11: Strategy
Strategy sedifis housing with care tm im, -11-
Slide 12: Aedifica
Aedifica > Belgian REIT (RREC/SIR/GVV) − market cap ~ €1.5 billion − free float of 100 % − marketable investment properties ~ €1.6 billion − approx. 811,000 m² > Focusing on healthcare real estate: “housing with care” − demographic evolution: ageing > European focus − Belgium − Germany − The Netherl
Slide 13: Demographic evolution
Demographic evolution Ageing in Belgium Ageing in Germany Source: "Perspectives de population 2017-2061", Belgian Federal Planning Bureau, 2017. Source: "Bevölkerung Deutschlands bis 2060", Statistisches Bundesamt (Deutschland), 2015. Ageing in The Netherlands Source: "Prognose bevolking kerncijfers
Slide 14: Healthcare real estate
Healthcare real estate > Focus on senior housing − Rest homes ̶ Belgium: Woonzorgcentrum / Maison de repos ̶ Germany: Pflegeheim ̶ The Netherlands: Verpleeghuis, Zorgresidentie, ... − Assisted living / Independent living ̶ Belgium: Assistentiewoning / Résidence-services ̶ Germany: Betreutes Wohnen ̶
Slide 15: Segment information
Segment information Fair value of total portfolio: €1.5 billion (As of 30 June 2017) Senior housing Apartment buildings in Hotels in Europe Belgium’s main cities in Belgium Weight: 82 % 14 % 4% Gross yield: 5.7 % 4.9 % 6.5 % EBIT margin: 99 % 63 % 99 % Cash flow Value play Cash flow (long leas
Slide 16: Achievements
[] aedifica , PNM HH vert rs betiet a baad -16-
Slide 17: Milestones
Milestones Investment properties* Evolution since 2006 €m CAGR: 27 % * Incl. assets classified as held for sale. -17-
Slide 18: Milestones: Focus on Senior Housing
Milestones Focus on Senior Housing Evolution by segment (fair value) Marketable investment properties incl.assets classified as held for sale (€1,528 m) -18-
Slide 19: Milestones: Focus on Europe
Milestones Focus on Europe Geographical breakdown (fair value) Marketable investment properties incl.assets classified as held for sale (€1,528 m) -19-
Slide 20: Milestones: Value creation since 2006
Milestones Value creation since 2006 €m -20-
Slide 21: Equity funding: Previous SPOs
Equity funding Previous SPOs (2010, 2012, 2015, 2017) > Reminder: Gross proceeds = €67 m (2010) + €100 m (2012) + €153 m (2015) + €219 m (2017) = €539 m > Since then, significant growth of investment properties: − 30 June 2010: €435 m − 30 June 2011: €518 m + €171 m − 30 Sept. 2012: €606 m − 30 June
Slide 22: Equity funding: Capital increase March 2017
Equity funding Capital increase March 2017 > 4th SPO: rights issue > 86% take up during subscription period > 14% rump placement: oversubscribed by institutional investors > Approx. €219 million capital increase > 3,595,164 new Aedifica shares at €61.00 -22-
Slide 23: Equity funding
Equity funding Equity and investment property growth €m -23-
Slide 24: Investments since capital increase
Investments Since capital increase of March 2017 (in € million) Marketable investment Development Total properties projects carried out subject to outstanding conditions Martha Flora Hilversum The Netherlands 2 - 6 8 Villa Walgaerde1 The Netherlands 4 - - 4 La Ferme Blanche1 Belgium 6 - - 6 Het Goud
Slide 25: Portfolio analysis
. . Ae Portfolio analysis social housing with care -25-
Slide 26: Segments
Segments (As of 30 June 2017) Apartment buildings (862 apartments in 35 sites) Senior housing (10,349 units in 110 sites) 6 hotels & other (544 rooms) Marketable investment properties incl.assets classified as held for sale (€1,528 m) -26-
Slide 27: Geographical breakdown
Geographical breakdown (As of 30 June 2017) The Netherlands Germany Wallonia Brussels Flanders Marketable investment properties incl.assets classified as held for sale (€1,528 m) -27-
Slide 28: Belgian healthcare portfolio
Belgian healthcare portfolio (As of 30 June 2017) > Senior housing portfolio of 72 assets: − Capacity of 7,292 residents − Total fair value of approx. €891 m − Yield on fair value of 5.6 % − Triple net long leases − Typical lease maturity: 27 years − 4 main tenants: Armonea, Orpea, Senior Living Gro
Slide 29: Belgian healthcare portfolio
Belgian healthcare portfolio (As of 30 June 2017) Belgium Senior housing To be completed -29-
Slide 30: Belgian healthcare portfolio
Belgian healthcare portfolio Residentie Sporenpark, Oase Aarschot Beringen Wissenstraat, Aarschot • €17 m invested • €24 m invested amount amount • 127 units • 120 units Leopoldspark, Hestia, Wemmel Leopoldsburg • €22 m invested • €21 m invested amount amount • 222 units • 150 units -30-
Slide 31: German healthcare portfolio
German healthcare portfolio (As of 30 June 2017) > Senior housing portfolio of 22 assets*: − Capacity of 2,249 residents − Total fair value of €209 m − Yield on fair value of 6.5 % − Double net long leases − Typical lease maturity: 20 - 25 years − 8 tenants (Aaetas Management, Alloheim, Deutsches Ro
Slide 32: German healthcare portfolio
German healthcare portfolio (As of 30 June 2017) Germany Senior housing Apartment buildings Hotels & other -32-
Slide 33: German healthcare portfolio
German healthcare portfolio Service-Residenz Residenz Zehlendorf, Schloss Bensberg, Berlin Bergisch Gladbach • €8 m invested • €14 m invested amount amount • 145 units • 87 units Am Kloster, Käthe-Bernhardt-Haus, Halberstadt Husum • €11 m invested • €7 m invested amount amount • 136 units • 80 units
Slide 34: Dutch healthcare portfolio
Dutch healthcare portfolio (As of 30 June 2017) > Senior housing portfolio of 16 assets*: − Capacity of 808 residents − Total fair value of €145 m − Yield on fair value of 5.7 %** − Mostly triple net long leases − Typical lease maturity: 15 - 20 years − 6 main tenants (Domus Magnus, Stepping Stones
Slide 35: Dutch healthcare portfolio
Dutch healthcare portfolio (As of 30 June 2017) The Netherlands Senior housing To be completed Hotels & other -35-
Slide 36: Dutch healthcare portfolio
Dutch healthcare portfolio Saksen Weimar, Het Gouden Hart, Arnhem Kampen • €8 m invested • €7 m invested amount amount • 42 units • 37 units Genderstate, Het Dokhuis, Eindhoven Oude Pekela • €10 m invested • €5 m invested amount amount • 44 units • 32 units -36-
Slide 37: Healthcare real estate tenants
Healthcare real estate tenants > 110 sites with 70 tenants (or 26 ‘groups’)* representing European, national and local profit and not-for-profit operators * As of 30 June 2017. -37-
Slide 38: Lease maturity
Lease maturity (As of 30 June 2017) Initial lease term < 15 years 14 % 86 % ≥ 15 years, irrevocable Weighted average lease term 20 years Marketable investment properties incl.assets classified as held for sale (€1,528 m). -38-
Slide 39: Age of buildings
Age of buildings (As of 30 June 2017) Other contracts Buildings > 10 years 11 % Other contracts Long-term Buildings between 16 % triple net 0-10 years 73 % contracts Marketable investment properties incl.assets classified as held for sale (€1,528 m). -39-
Slide 40: Occupancy rate
Occupancy rate 99 % 95 % Very high and stable occupancy rates Red line: Total portfolio (excl. furnished apartments) (95% of portfolio) : (contractual + guaranteed rents) / (contractual rents + ERV for unlet spaces). Green dots: Furnished apartments (5% of portfolio) : Rented days QTD / total numb
Slide 41: Gross yields on fair value
Gross yields on fair value (As of 30 June 2017) Weighted average 5.7 % -41-
Slide 42: Segment EBIT margins
Segment EBIT margins* (As of 30 June 2017) Senior Apartment Hotels & Unallocated & TOTAL housing buildings other inter-segment FY 2007/2008 100 % 64 % 98 % - 68 % FY 2008/2009 100 % 64 % 96 % - 71 % FY 2009/2010 100 % 64 % 99 % - 73 % FY 2010/2011 100 % 64 % 98 % - 75 % FY 2011/2012 100 % 63 % 99 %
Slide 43: Valuation of property
Valuation of property* 2008 → 2017 FY 2008/2009 FY 2009/2010 FY 2010/2011 FY 2011/2012 FY 2012/2013 FY 2013/2014 FY 2014/2015 FY 2015/2016 FY 2016/2017 €k % €k % €k % €k % €k % €k % €k % €k % €k % Senior housing 13 0% 1,684 1% 6,072 2% 5,991 2% 7,347 2% 5,896 1% 13,343 2% 17,588 2% 18,782 2% Apartme
Slide 44: Portfolio growth: development projects
Portfolio growth Development projects as of 30 June 2017 Project or renovation Estimated Inv. as at 30 Futur inv. Date of Comments (in millions €) inv. June 2017 completion I. In progress Villa Temporis II Hasselt (BE) 2 0 2 2017/2018 Renovation of a rest home Molenenk Deventer (NL) 11 9 2 2017/2018
Slide 45: Development projects
Development projects 252 -97 -11 -11 -10 -10 7 -1 122 -9 11 -8 10 -6 5 -4 4 4 -4 -2 2 3 -2 -1 2 -45-
Slide 46: Development projects
Development projects 8 -2 -9 200 -8 -2 -11 347 40 9 122 -46-
Slide 47: Financials
Ae Financials sede] housing with care -47-
Slide 48: Income Statement - Business driven
Income Statement Business driven Income Statement - analytical scheme 30 June 2017 30 June 2016 Var. (x €1,000) Rental income 78,983 59,822 +32% Rental-related charges -48 -35 Net rental income 78,935 59,787 +32% Operating charges -13,158 -12,173 Operating result before result on portfolio 65,777 47
Slide 49: Income Statement - Business driven
Income Statement Business driven Income Statement - analytical scheme 30 June 2017 30 June 2016 Var. (x €1,000) Rental income 78,983 59,822 +32% Rental-related charges -48 -35 Net rental income 78,935 59,787 +32% Operating charges -13,158 -12,173 Operating result before result on portfolio 65,777 47
Slide 50: Rental income
Rental income (As of 30 June 2017) +19,906 -807 +62 78,983 59,822 Change: +45.2 % -6.8 % +3.4 % +32.0 % Like-for-like change: +1.5 % -6.8 % +4.3 % -0.2 % 32 % increase YoY -50-
Slide 51: EPRA Earnings
EPRA Earnings (As of 30 June 2017) +19,906 -100 -807 +781 +121 -1,738 -6,946 +3,534 -50 -369 -694 47,964 34,326 -51-
Slide 52: EPRA Earnings vs Forecast
EPRA Earnings vs Forecast (As of 30 June 2016) €48 m €46 m -52-
Slide 53: Income Statement - Market driven
Income Statement Market driven Income Statement - analytical scheme 30 June 2017 30 June 2016 (x €1,000) EPRA Earnings 47,964 34,326 Changes in fair value of financial assets and liabilities 5,119 -5,685 Changes in fair value of investment properties 10,357 10,775 Non cash Gains and losses on dispos
Slide 54: Hedging policy
Hedging policy (As of 30 June 2016) > Economic stability and Business driven: foreseeability of Avg effective interest rate of 2.3 %, interest cash below PY (2.9 %) and FY forecast (2.4 %) outflows... > ... even in spite Market driven: of accounting Change in FV of derivatives (non cash items) under
Slide 55: Consolidated balance sheet
Consolidated balance sheet (€ m) (As of 30 June 2017) Assets Equity & Liabilities 3 -55-
Slide 56: Debt-to-assets ratio
Debt-to-assets ratio Before After Before After SPO 2015 SPO 2015 SPO 2017 SPO 2017 Headroom*: - Debt increase of €301 m without investments or €753 m with investments - Drop of MTM of buildings of 32 % ** Based on bank covenant of max. 60 %. Based on legal max. of 65 %, headroom is respectively €379
Slide 57: Credit facilities
Credit facilities (As of 30 June 2017) Maturity Utilisation Credit lines 2017/2018 30 37 2018/2019 111 131 2019/2020 68 80 2020/2021 91 91 2021/2022 100 167 2022/2023 33 160 2023/2024 106 156 2024/2025 and subsequent : 78 78 Total 615 898 Weighted Average Maturity (years) 4.2 4.5 Hedging policy - He
Slide 58: Net asset value
Net asset value Net asset value per share (in €) 30 June 2017 30 June 2016 Var. Based on fair value of investment properties Net asset value 49.40 41.64 19% Effect of the changes in fair value of hedging instruments 1.89 3.34 Net asset value excl. changes in fair value of hedging instruments 51.30 4
Slide 59: Number of shares
Number of shares Number of shares 30 June 2017 30 June 2016 Number of shares outstanding* 17,975,820 14,192,032 Total number of shares 17,975,820 14,192,032 Total number of shares on the stock market** 17,975,820 14,172,176 Weighted average number of shares outstanding (IAS 33) 15,235,696 14,122,758
Slide 60: Value potentially not reflected in the NAV
Value potentially not reflected in the NAV > Belgian REIT → highly regulated framework > Assessment: long term cash flows at interesting yields > Inflation-linked contracts > Pipeline: − Committed − Pre-let > Track record of successful investments > Track record of successful financing (equity and d
Slide 61: EPRA key performance indicators
EPRA > Aedifica included in the EPRA indices Key performance indicators according to the EPRA principles 30 June 2017 30 June 2016 EPRA Earnings (in €/share) 3.15 2.43 EPRA NAV (in €/share) 51.47 45.14 EPRA NNNAV (in €/share) 48.93 41.45 EPRA Net Initial Yield (NIY) (in %) 5.2% 5.2% EPRA Topped-up N
Slide 62: Shares & shareholders
Shares & shareholders fey aedifica | housing with care -62-
Slide 63: Dividend track record
Dividend track record * 2017/2018 budgeted dividend (see section 11 of the Board of Directors’ Report included in the 2016/2017 Annual Financial Report). ** Board of Directors’ proposal, subject to AGM. -63-
Slide 64: Share price since IPO
Share price since IPO (As of 31 August 2017) Spot Var. (%) Aedifica 81.65 135 BEL MID 4,639.64 26 EPRA Belgium 1,349.72 -5 EPRA Europe 2,104.75 -21 Aedifica: based on the IPO price (€41), adjusted to take into account the rights issues of 2010 (- €1.89), 2012 (- €1.93), 2015 (- €0.89) and 2017 (- €1
Slide 65: Total return since IPO
Total return since IPO (As of 31 August 2017) Var. (%) Aedifica total return* 121 250 EPRA Belgium total return 4,086 89 EPRA Europe total return 4,197 23 * Aedifica: based on the IPO price (€41), adjusted to take into account the rights issues of 2010 (- €1.89), ), 2012 (- €1.93), 2015 (- €0.89) an
Slide 66: Shareholding
Shareholding* (As of 30 June 2017) Free float 100 % * A total of 17,975,820 shares are listed on Euronext Brussels (28 March 2017). -66-
Slide 67: Rankings
Rankings > The highest free float of all Belgian REITs > 3th largest market cap amongst all Belgian REITs1 > 7th largest real estate portfolio in Belgium2 (36th in 2006) > Aedifica accounts for 36 % of the invested volume in Belgian rest homes in 2005-20153 1 Based on the 1 September 2017 “Weekly Ta
Slide 68: Awards
Awards EPRA “EPRA Reporting: Best Practices Recommendations” (BPR) > Annual Report 2012/2013 (1st implementation of BPR) > Annual Report 2013/2014 > Annual Report 2014/2015 > Annual Report 2015/2016: not yet assessed -68-
Slide 69: Corporate governance
Corporate governance > Transparency > Board of Directors − NV/SA − 9 Directors − Management in the box ̶ 7 non-executive Directors of which 5 independent ones − Belgian Code 2009 on ̶ 2 executive Directors Corporate Governance ̶ Gender diversity ratio: 44 % − 100% free float − Audit Committee − No p
Slide 70: Management team
Management team > Management committee Name Function Stefaan Gielens Chief Executive Officer (CEO) Jean Kotarakos Chief Financial Officer (CFO) Laurence Gacoin Chief Operating Officer (COO) Sarah Everaert Chief Legal Officer (CLO) / Secretary-General > In 2016 and 2017, Aedifica strengthened its tea
Slide 71: Outlook
fey d | housing with care aedific ‘ae Outlook
Slide 72: Outlook FY 2017/2018
Outlook FY 2017/2018 > Focus on investments − Development pipeline: ̶ Deliveries on track − New investments in healthcare real estate: ̶ Targets being studied in The Netherlands, Germany and Belgium − Objective for future growth: EPS growth through ̶ Enhancing long-term cash flows in healthcare real
Slide 73: Outlook FY 2017/2018: Development pipeline
Outlook FY 2017/2018 Portfolio - Focus on investments > Development pipeline: Villa Temporis II Molenenk Seniorenheim am Dom Genderstate/Petruspark/Parc Imstenrade Résidence Les Cheveux d’Argent Résidence l’Air du Temps Het Gouden Hart van Leersum Huize Lieve Moenssens Martha Flora
Slide 74: Outlook FY 2017/2018: Future investments
Outlook FY 2017/2018 Portfolio - Focus on investments > Objective for future investments: Enhancing long-term cash flows in senior housing Growing in the 3 home markets Belgium The Netherlands (co-operation agreement with Stichting Rendant, 19 July 2017) Germany (co-operation agreement wit
Slide 75: Outlook FY 2017/2018: Budget
Outlook FY 2017/2018 > Budgeted rental income: €91 m > Budgeted EPRA Earnings: €57 m > Budgeted EPRA EPS: €3.15/share > Budgeted DPS: € 2.50/share (gross), 11% higher than PY -75-
Slide 76: Conclusion
Ae Conclusion sede] housing with care ied ’ -76-
Slide 77: Investment highlights
Investment highlights Attractiveness for shareholders: > Pure-play healthcare REIT in Europe > Strong underlying demographic trends > Long-term growth potential > Fair value history of portfolio showing resilience > Weighted average lease term: 20 years > Solid investment, equity and debt-financing
Slide 78: sedifica |
sedifica | housing with care
Slide 79: Stefaan Gielens - CEO; Jean Kotarakos - CFO
Stefaan Gielens - Chief Executive Officer Jean Kotarakos - Chief Financial Officer -79-
Slide 80: Aedifica SA/NV
Aedifica SA/NV Public REIT under Belgian Law Regulated Real Estate Company (RREC) Société immobilière réglementée (SIR) Gereglementeerde vastgoedvennootschap (GVV) Avenue Louise 331 bte 8 1050 Brussels Tel: +32 (0)2 626 07 70 - Fax: +32 (0)2 626 07 71 info@aedifica.be www.aedifica.be -80-
Slide 81: Forward looking statement
Forward looking statement This Presentation includes forward-looking statements that reflect the Company's intentions, beliefs or current expectations concerning, among other things, the Company’s results, condition, performance, prospects, growth, strategies and the industry in which the Company op
Slide 82: Appendix
. fre Appendix aedifica |’ -82-
Slide 83: Belgian REIT
Belgian REIT > “sicafi / vastgoedbevak” until 17 October 2014 > RREC (SIR / GVV) since 17 October 2014 > Investment property: maximum 20 % in one (group of) asset(s) > Appraisal: − At fair value on a quarterly basis by an independant expert − No depreciation of properties > Dividend: at least 80 % o
Slide 84: Milestones
Milestones > Nov. 2005: Creation of Aedifica > Dec. 2005: Filed as Vastgoedbevak/Sicafi + 1st acquisitions > Oct. 2006: IPO > Oct. 2010: 1st SPO > Dec. 2012: 2nd SPO > Oct. 2014: SIR/GVV > June 2015: 3rd SPO > March 2017: 4th SPO -84-
Slide 85: Dividend FY 2016/2017
Dividend FY 2016/2017 Dividend policy > DPS 2016/2017 proposal: €2.25 / share (gross) − higher than PY and in line with initial budget before capital increase − no dilution − coupon No. 17 (1.66 €) + coupon No. 18 (0.59 €) − subject to AGM to be held on 27 Oct. 2017 > Withholding tax: − General rule
Slide 86: Main tenants (1)
Main tenants (1) Segment Country Group controlling the legal Tenants Number of 30/06/2017 30/06/2016 entities in contractual relation sites with Aedifica SENIOR HOUSING 110 82% 75% Belgium 72 57% 59% Armonea 19 17% 21% Armonea SA 8 8% 10% Restel Flats SPRL 1 1% 1% LDC De Wimilingen ASBL 1 0% 0% Happ
Slide 87: Main tenants (2)
Main tenants (2) Segment Country Group controlling the legal Tenants Number of 30/06/2017 30/06/2016 entities in contractual relation sites with Aedifica SENIOR HOUSING 110 82% 75% Belgium 72 57% 59% Orpea 9 8% 10% Château Chenois Gestion SPRL 3 2% 3% New Philip SA 3 2% 2% Parc Palace SA 1 1% 2% Pro
Slide 88: Main tenants (3)
Main tenants (3) Segment Country Group controlling the legal Tenants Number of 30/06/2017 30/06/2016 entities in contractual relation sites with Aedifica SENIOR HOUSING 110 82% 75% Germany 22 16% 13% Orpea 5 4% 5% Senioren Wohnpark Weser GmbH 3 2% 3% Bonifatius Seniorendienstr GmbH °°° 1 1% 1% Senio
Slide 89: Main tenants (4)
Main tenants (4) Segment Country Group controlling the legal Tenants Number of 30/06/2017 30/06/2016 entities in contractual relation sites with Aedifica SENIOR HOUSING 110 82% 75% The Netherlands 16 10% 3% Domus Magnus 3 2% 2% Panta Rhei V BV 1 1% 1% DM Benvenuta BV 1 0% 0% DM Walgaerde B.V. 1 0% 0
Slide 90: Main tenants (5)
Main tenants (5) Segment Country Group controlling the legal Tenants Number of 30/06/2017 30/06/2016 entities in contractual relation sites with Aedifica HOTELS AND OTHER 9 5% 7% Belgium 9 5% 7% Martin's Hotels 2 4% 5% Martin's Brugge SA 1 2% 3% Martin's Hotel SA 1 2% 2% Different Hotel Group 4 1% 2
Slide 91: Investments in 2016/2017 (1)
Investments in 2016/2017 (1) 14 September 2016 Acquisition of a portfolio of 3 senior housing sites in The Netherlands • €73 m invested amount • 446 units Parc Imstenrade 31 August 2016 Acquisition of a portfolio of 5 rest homes in Germany • €60 m invested amount • 657 units Ezeldijk 19 August 2016
Slide 92: Investments in 2016/2017 (2)
Investments in 2016/2017 (2) 30 September 2016 30 September 2016 Acquisition of a rest home Completion of a rest home in in Glabbeek (Province of Mont-Saint-Guibert (Province Flemish Brabant, Belgium) of Walloon Brabant, Belgium) • €12 m invested amount • €10 m invested amount • 90 units • 104 units
Slide 93: Investments in 2016/2017 (3)
Investments in 2016/2017 (3) 15 December 2016 Acquisition of a rest home in Berlin (Germany) • €8 m invested amount • 145 units Residenz Zehlendorf 8 December 2016 21 December 2016 Acquisition of a rest home Acquisition of a care in Anderlecht (Brussels, residencein Vleuten Belgium), announced on (P
Slide 94: Investments in 2016/2017 (4)
Investments in 2016/2017 (4) 19 January 2017 19 January 2017 Acquisition of a care Completion of the residence in Oude Pekela extension of a rest home in (Province of Groningen, Hasselt (Province of The Netherlands) Limburg, Belgium) • €5 m invested amount • €15 m invested amount • 32 units (includi
Slide 95: Investments in 2016/2017 (5)
Investments in 2016/2017 (5) 31 March 2017 Acquisition subject to an outstanding condition of a care residence to be constructed in Hilversum (Province of North Holland, The Netherlands) • €8 m to be invested • 33 units Martha Flora Hilversum (drawing) 31 March 2017 4 April 2017 Acquisition of a car
Slide 96: Investments in 2016/2017 (6)
Investments in 2016/2017 (6) 4 April 2017 4 April 2017 Acquisition of a care Acquistion of a care residence in Kampen residence in Driebergen (Province of Overijssel, (Province of Utrecht, The The Netherlands) Netherlands) • €7 m invested amount • €1 m invested amount • 37 units • 9 units Het Gouden
Slide 97: Investments in 2016/2017 (7)
Investments in 2016/2017 (7) 30 May 2017 Acquisition of a rest home in Sint-Genesius-Rode (Province of Flemish Brabant, Belgium) • €21 m invested amount • 107 units Residentie Blaret 29 May 2017 30 May 2017 Acquisition of a care Acquisition of a residence to be healthcare site in Meppel constructed
Slide 98: Investments in 2016/2017 (8)
Investments in 2016/2017 (8) 31 May 2017 Acquisition of a senior housing site in Wuppertal-Elberfeld (North Rhine-Wesphalia, Germany) • €8 m invested amount • 79 units Seniorenresidenz Laurentiusplatz 13 June 2017 Acquisition of a rest home in Halberstadt (Saxony-Anhalt, Germany) • €9 m invested amo
Slide 99: Investments in 2017/2018 (1)
Investments in 2017/2018 (1) 19 July 2017 Co-operation agreement for the construction of two senior housing sites in Leeuwarden and Heerenveen (Province of Friesland, The Netherlands) • €40 m to be invested • 260 units Aldlânstate 10 July 2017 Acquisition of a care residence to be constructed in Ede
Slide 100: Investments in 2017/2018 (2)
Investments in 2017/2018 (2) 17 August 2017 Co-operation agreement for the construction of 17 rest homes in Germany • €200 m to be invested • 1,500 units Project in Lower Saxony 24 August 2017 24 August 2017 Acquisition of a care Completion of a care residence in Zeist residence in Deventer (Provinc
Slide 101: Notes
fre ; Notes aecifica |' housing with care -101-
Slide 102: Notes
fre ; Notes aecifica |' housing with care -102-