Deutsche Pfandbriefbank Ag · XETR:PBB
Deutsche Pfandbriefbank — Q3 2025 Earnings Presentation
76 slides from Deutsche Pfandbriefbank's earnings presentation, Nov 13, 2025
Slide 1: Analyst Presentation Results Q3/9M 2025
ANALYST PRESENTATION Results Q3/9M 2025 13 November 2025 Results Q3/9M 2025 (IFRS, pbb Group, unaudited), 13 November 2025 1
Slide 2: Disclaimer
Disclaimer → This presentation is not an offer or invitation to subscribe for or purchase any securities in any jurisdiction, including any jurisdiction of the United States. Securities may not be offered or sold in the United States absent registration or pursuant to an available exemption from reg
Slide 3: Key Messages
KEY MESSAGES → Execution of Strategy 2027 on track → New business RoTE of ~9% in 9M/25 (Q3/25: 7%) accretive for Strategy 2027 targets → On track for closing of acquisition of Deutsche Investment for Q1/26, regulatory approvals granted → Implementation of US exit progressing well → Transition to hig
Slide 4: Market Sentiment
MARKET SENTIMENT CRE markets stabilised, but recovery slower than expected Growth risks in Europe abating, ECB rates CRE market recovery slower than expected on hold this year Economy keeps defying tariff CRE investment market recovery slow and uneven headwinds Inflation supports an easy Elevated lo
Slide 5: Strategy 2027
STRATEGY 2027 Three key pillars and three key approaches RE FINANCE RE INVESTMENT NON- WHAT? SOLUTIONS SOLUTIONS CORE Diversification and increase in pbb invest and Originate & Value preserving run-down of profitability Cooperate Non-Core portfolio Flexible, international and efficient platform Flex
Slide 6: Strategy 2027: RE Finance Solutions
STRATEGY 2027 RE Finance Solutions (REFS) - Diversification and increase in profitability → pbb transforms into a pure European player, further New business volume1 Growth asset classes leveraging its deep market expertise New business +61% Pipeline (as of reporting date) → New business growing: 4.0
Slide 7: Focus: US Portfolio
FOCUS: US PORTFOLIO Implementation of US exit progressing well Performing Portfolio € bn (EaD, Basel III, 2025: Basel IV) Performing portfolio: expected contractual run-down2 (€ bn, EaD, Basel IV) 3.3 -0.4 2.8 2.6 -0.2 -0.2 -0.1 3.3 2 loans 2 loans 1 loan 2.4 1.7 12/24 Repayments Transfer 06/25 Repa
Slide 8: Strategy 2027: RE Investment Solutions
STRATEGY 2027 RE Investment Solutions (REIS) – focus on acquisition of Deutsche Investment Deutsche Investment pbb invest ▪ Full value chain → Acquisition of Deutsche Investment progressing (360° approach) according to plan Closing in • Regulatory approvals granted ▪ AUM of ~ € 3 bn Q1/26 ▪ Fee Inco
Slide 9: Agenda
AGENDA 1. Operating & Financial Overview 2. Portfolio Quality 3. Capital & Funding 4. Summary & Outlook 5. Appendix Results Q3/9M 2025 (IFRS, pbb Group, unaudited), 13 November 2025 9
Slide 10: Operating & Financial Overview: Focus on profitability
OPERATING & FINANCIAL OVERVIEW Focus on profitability – transition underway REF new business → Selective new business with REF portfolio € bn (financing volume) → Reduced portfolio volume € bn (commitments, incl. extensions > 1 yr.) strict focus on profitability reflects selective new → New business
Slide 11: Financial performance impacted by one-off US risk charges
OPERATING & FINANCIAL OVERVIEW Financial performance impacted by one-off US risk charges in Q2/25 Operating income € mn (IFRS) → Operating income impacted by General admin. expenses € mn (IFRS) → After finalisation of IT- one-off US fair value1 risk transformation in 2024, GAE NII/NCI Realisation &
Slide 12: Transition impacting Q3/25 topline
OPERATING & FINANCIAL OVERVIEW Transition impacting Q3/25 topline whilst expenses remain well managed Operating income € mn (IFRS) NII/NCI Realisation income Other income → Operating income mainly impacted by lower NII and no NCI q-o-q2 • NII down by € -5 mn q-o-q due to • Higher portfolio margins n
Slide 13: Operating expenses well managed
OPERATING & FINANCIAL OVERVIEW Operating expenses well managed Operating expenses € mn (IFRS) personnel non-personnel write downs → Operating expenses well managed q-o-q, ongoing investments into strategic initiatives leads only to a small increase in Q3/25 61% 70% 60% 54% 57% CIR1 46% 47% • Non-per
Slide 14: Risk provisioning in Q3/25
OPERATING & FINANCIAL OVERVIEW Risk provisioning in Q3/25 mainly driven by legacy German development loans Net income from risk provisioning € mn (IFRS) Stage 1&21 Stage 3 Other2 9M/24: € -140 mn 9M/25: € -356 mn / 9M/25 adjusted3: € -73 mn +22 +3 -10 +7 -25 -5 -31 +5 -14 -3 -37 -63 -59 -75 -33 -30
Slide 15: REF NPL coverage ratio stable at ~30%
OPERATING & FINANCIAL OVERVIEW REF NPL coverage ratio stable at ~30% Balance sheet loss allowances € mn Stage 1&2 € mn (IFRS, reported) Stage 1 Stage 2 Stage 3 Other Germany Other Germany UK UK 14 15 26 26 8 9 787 823 29 30 564 156 154 543 39 43 06/25 USA 09/25 USA 93 81 € 185 mn € 184 mn 602 639 41
Slide 16: Agenda
AGENDA 1. Operating &d Financial Overview 2. Portfolio Quality 3. Capital & Funding 4. Summary & Outlook 5. Appendix Results Q3/9M 2025 (IFRS, pbb Group, unaudited), 13 November 2025 16
Slide 17: REF Portfolio Performing
REF PORTFOLIO PERFORMING Bottoming out of CRE markets and portfolio transition continue to show REF Portfolio € bn (EaD, Basel III, 2025: Basel IV) → With CRE markets gradually bottoming out and our active portfolio transition 56% 56% 56% 56% underway, the quality of the performing portfolio stabili
Slide 18: REF Portfolio NPL
REF PORTFOLIO NPL NPL coverage ratio stable at ~30% NPL Portfolio € mn (EaD, Basel III, 2025: Basel IV) Europe USA → Increase of NPL portfolio of € 158 mn in Q3/25 driven by addition of 2 office loans and EaD-effects on legacy NPL, only partially compensated by FX-effects (€ -6 mn) 2,116 1,903 +297
Slide 19: Focus: Development Portfolio
FOCUS: DEVELOPMENT PORTFOLIO No new NPL, but idiosyncratic risks in legacy NPL still to be managed Portfolio € bn Phase 30/09/2025 → Portfolio reduced by 25% y-o-y and 18% ytd with slight increase in Q3/25 (EaD, Basel III, 2025: Basel IV) (commitments, Basel IV) • 4 loans (€ 155 mn) repaid/transferr
Slide 20: Focus: European Office Portfolio
FOCUS: EUROPEAN OFFICE PORTFOLIO Stabilisation in core locations, few selective sub-markets difficult Portfolio € bn (EaD, Basel III, 2025: Basel IV) Performing Non-performing → Office Europe portfolio reduced by € 0.3 bn in Q3/25 (9M/25: € 0.6 bn) • Repayments & others € 0.2 bn 11.4 11.3 11.0 • Tra
Slide 21: Agenda
AGENDA 1. Operating & Financial Overview 2. Portfolio Quality 3. Capital & Funding 4. Summary & Outlook 5. Appendix Results Q3/9M 2025 (IFRS, pbb Group, unaudited), 13 November 2025 21
Slide 22: Capital
CAPITAL Solid capitalisation enables strategic transformation Basel IV: capital and leverage ratios (IFRS) → Solid capitalisation with CET1 ratio at 15.4% as of 09/25 • RWA slightly down in Q3/25, decrease mainly due to re-/prepayments, Transitional period FX- and portfolio effects F-IRBA1 Pro-forma
Slide 23: Funding and Liquidity
FUNDING AND LIQUIDITY Funding agenda 2025 successfully completed with some pre-funding New long-term funding1 Private placements Benchmark issuances Transaction Highlights 2025 € bn 2023: € 3.3 bn 2024: € 2.5 bn 9M/25: € 2.8 bn → Two successful and well-oversubscribed Mortgage Pfandbrief Benchmarks,
Slide 24: Agenda
AGENDA 1. Operating & Financial Overview 2. Portfolio Quality 3. Capital & Funding 4. Summary & Outlook 5. Appendix Results Q3/9M 2025 (IFRS, pbb Group, unaudited), 13 November 2025 24
Slide 25: Summary & Outlook
SUMMARY & OUTLOOK → Execution of Strategy 2027 on track → Closing of acquisition of Deutsche Investment on course for Q1/26 → New business up by 61% to € 4.0 bn with RoTE of 9% → REF-Portfolio at € 27.6 bn – European business volume not yet compensating for de-risking of US- and Development Portfoli
Slide 26: Agenda
AGENDA 1. Operating & Financial Overview 2. Portfolio Quality 3. Capital & Funding 4. Summary & Outlook 5. Appendix Results Q3/9M 2025 (IFRS, pbb Group, unaudited), 13 November 2025 26
Slide 27: Appendix
APPENDIX 1. Strategy 2027 2. Financials 3. REF New Business 4. Portfolio profile 5. Funding & Ratings 6. ESG Contact Details Results Q3/9M 2025 (IFRS, pbb Group, unaudited), 13 November 2025 27
Slide 28: Real Estate Finance Solutions
Published on 13/08/25 REAL ESTATE FINANCE SOLUTIONS pbb to become a truly European player → Growth of new business in Europe accelerates; GIM at high level of New business volume1 US portfolio ~240 bp maintained and expected to have peaked; RoTE of new (€ bn) (€ bn, EaD) business above expectation;
Slide 29: US exit with significant one-off charges
Published on 13/08/25 REAL ESTATE FINANCE SOLUTIONS US exit with significant one-off charges – however, CET1 ratio impact limited to -40 bp → Q2/25 performance of US performing book solid; LTV stable at 67%, exposure US risk charges US coverage ratios1 at risk reduced by 19% q-o-q 03/25 06/25 → Port
Slide 30: pbb acquires Deutsche Investment Group
Published on 13/08/25 REAL ESTATE INVESTMENT SOLUTIONS pbb acquires Deutsche Investment Group →Deutsche Investment Group provides full value chain (360° Key Facts Strategic presence approach), combining RE Investment / Asset Management with (2024) integrated property & facility management • AuM € 3
Slide 31: Deutsche Investment Group – strategic fit
Published on 13/08/25 REAL ESTATE INVESTMENT SOLUTIONS Deutsche Investment Group – excellent strategic fit and cornerstone for Strategy 2027 →Deutsche Investment Group – essential contribution to Strategy Fee Income1 Fee Income CAGR1 2027 targets • € 3 bn AuM3 materially contribute to pbb invest tar
Slide 32: Key Performance Indicators for 2027
CMD STRATEGY UPDATE Key Performance Indicators for 2027 OPERATING INCOME FEE INCOME CIR € ~600 mn ~10% <45% RoTE1 CAPITAL DISTRIBUTION CET-1 RATIO3 ≥50% 8% >15.5% (incl. share buybacks)2 Note: 1) Return on Tangible Equity (before tax); RoTE excl. deferred taxes, goodwill & other intangible assets 2)
Slide 33: RoTE definition
RoTE definition Return on Tangible Equity (RoTE) 9M/25 Profit before tax1) minus AT1-coupon RoTE € -338 mn1) IFRS equity2) before tax minus AT1-capital2) € 2,821 mn2) -12.0% (IFRS) minus goodwill and other intangible assets2) minus deferred tax income assets2) Net income after tax attributable to sh
Slide 34: Appendix
APPENDIX 1. Strategy 2027 2. Financials 3. REF New Business 4. Portfolio profile 5. Funding & Ratings 6. ESG Contact Details Results Q3/9M 2025 (IFRS, pbb Group, unaudited), 13 November 2025 34
Slide 35: Key Figures: pbb Group
KEY FIGURES pbb Group Income statement (€ mn) 2023 Q1/24 Q2/24 Q3/24 Q4/24 2024 Q1/25 Q2/25 Q3/25 9M/25 Net interest income 482 125 121 113 106 465 107 104 99 310 Net fee and commission income 3 1 2 0 2 5 2 2 0 4 Net income from fair value measurement 0 -3 -1 8 -7 -3 3 -19 -11 -27 Net income from re
Slide 36: Key Figures: Real Estate Finance
KEY FIGURES Real Estate Finance (REF) Income statement (€ mn) 20234 Q1/24 Q2/24 Q3/24 Q4/24 2024 Q1/25 Q2/25 Q3/25 9M/25 Net interest income 437 116 113 107 102 438 102 99 95 296 Net fee and commission income 4 1 3 0 2 6 2 2 1 5 Net income from fair value measurement 0 -2 -1 5 -4 -2 3 -20 -10 -27 Ne
Slide 37: Key Figures: Non-Core
KEY FIGURES Non-Core (PIF & VP) Income statement (€ mn) 20234 Q1/24 Q2/24 Q3/24 Q4/24 2024 Q1/25 Q2/25 Q3/25 9M/25 Net interest income 45 9 8 6 4 27 5 5 4 14 Net fee and commission income -1 0 -1 0 0 -1 0 0 -1 -1 Net income from fair value measurement 0 -1 0 3 -3 -1 0 1 -1 0 Net income from realisat
Slide 38: Balance Sheet
BALANCE SHEET Balance Sheet IFRS, € bn Assets 30/09/25 31/12/24 Liabilities & equity 30/09/25 31/12/24 Financial assets at fair value through P&L 1.1 1.2 Financial liabilities at fair value through P&L 0.3 0.7 thereof thereof Positive fair values of stand-alone derivatives 0.2 0.5 Negative fair valu
Slide 39: Appendix
APPENDIX 1. Strategy 2027 2. Financials 3. REF New Business 4. Portfolio profile 5. Funding & Ratings 6. ESG Contact Details Results Q3/9M 2025 (IFRS, pbb Group, unaudited), 13 November 2025 39
Slide 40: Market Sentiment
MARKET SENTIMENT Europe and Germany stabilising on low level Macro Economics Real Estate Markets 0.0% 88.4 pts € 500 bn +13% -1.81 pts 46% GDP growth in Q3 25 Ifo Business Climate Index infrastructure package Rise in CRE transactions in Q3 pbbIX bottoming out (Q3/25) Share of foreign investors in (-
Slide 41: REF New Business
REF NEW BUSINESS Selective new business volume with margins on elevated level Volume of REF portfolio in € bn → REF portfolio down by re-/prepayments and selective new business approach financing volume → Avg. portfolio margin further up by ~4% ytd. → New business volume of € 4.0 bn up by ~61% vs. 9
Slide 42: Diversification supports management of the cycle
REF NEW BUSINESS Diversification supports management of the cycle As of 30/09/25 Regions Property types Mixed use/ Other Hotel 1% other € 4.0 bn 11% Logistics/ storage 3% Nordics 9% Germany 20% New business 38% 45% Office Commitments, incl. extensions > 1 year 19% CEE 18% Retail 8% 10% France 13% US
Slide 43: Appendix
APPENDIX 1. Strategy 2027 2. Financials 3. REF New Business 4. Portfolio profile 5. Funding & Ratings 6. ESG Contact Details Results Q3/9M 2025 (IFRS, pbb Group, unaudited), 13 November 2025 43
Slide 44: Portfolio: Total portfolio
PORTFOLIO Total portfolio Regions EaD, 2024: Basel III, 2025: Basel IV 31/12/2024 / Total: € 43.9 bn 30/09/2025 / Total: € 43.2 bn Italy 1% Italy 1% Other Rest of World 1% Other Rest of World 1% Finland 1% Finland 1% Czech Republic 1% Czech Republic 2% Hungary < 1% Hungary < 1% Sweden Sweden Spain 3
Slide 45: REF Portfolio Performing
REF PORTFOLIO PERFORMING Portfolio quality remains solid Performing Portfolio € bn (EaD, Basel III, 2025: Basel IV) → Performing REF portfolio reduced by € 0.7 bn in Q3/25 (9M/25: € 1.8 bn) • Repayments & others € 0.6 bn (9M/25: € 1.4 bn, incl. neg. USD-effect of € 0.5 bn) 28.2 27.8 • Transfer to NP
Slide 46: Focus: Germany Performing
FOCUS: GERMANY PERFORMING Well diversified, high-quality portfolio Performing Portfolio € bn (EaD, Basel III, 2025: Basel IV) → Performing German portfolio stable in Q3/25 (9M/25: reduced by € 0.4 bn) • No repayments & others (9M/25: € 0.4 bn) 12.8 12.6 • No transfer to NPL (9M/25: 1 German office l
Slide 47: Focus: Office Performing
FOCUS: OFFICE PERFORMING Exposure at risk covered by 35% Performing Portfolio € bn (EaD, Basel III, 2025: Basel IV) → Performing Office portfolio reduced by € 0.5 bn in Q3/25 (9M/25: € 1.3 bn) • Repayments & others € 0.3 bn (9M/25: € 0.9 bn, incl. neg. USD-effect of € 0.5 bn) 14.1 13.9 • Transfer to
Slide 48: Focus: Office NPL
FOCUS: OFFICE NPL Office NPL portfolio covered by ~27% Non-Performing Portfolio € mn (EaD, Basel III, 2025: Basel IV) → Office NPL portfolio increased by € 149 mn due to additions of 2 office loans and EaD- effects, only partial compensated by FX-effects (€ -2 mn) 1,246 • 1 US office loan, € 68 mn –
Slide 49: NPL Portfolio
NPL PORTFOLIO Active restructuring/work-out ongoing Geographical breakdown € mn (EaD, Basel III, 2025: Basel IV) Breakdown by property type € mn (EaD, Basel III, 2025: Basel IV) 2,117 2,117 1,903 1,903 248 1,684 212 1,684 231 210 359 Others Others & Mixed Use 264 267 207 265 France 718 Hotel 268 655
Slide 50: Portfolio: Real Estate Finance
PORTFOLIO Real Estate Finance (REF) Regions Property types Other 1% Other 2% Other Europe Austria 1% Other Europe Hotel 3% Mixed use 1% Mixed use 1% Austria 1% Hotel 2% Retail Czech Republic 2% 10% Czech Republic 2% 10% Retail Sweden 4% Sweden 4% 10% 10% Poland Poland 8% 6% 45% Germany 46% Germany R
Slide 51: REF Portfolio: LTV development
REF PORTFOLIO LTV development reflects market environment LTV – Regions LTV – Property types (€ bn, commitments, Basel III, 2025: Basel IV) 1 (€ bn, commitments, Basel III, 2025: Basel IV) 1 12/24 06/25 09/25 12/24 06/25 09/25 Avg. LTV Avg. LTV 12/24: 56% / 06/25: 56% / 09/25: 56% 12/24: 56% / 06/25
Slide 52: REF Portfolio – LTV Cluster
REF PORTFOLIO – LTV CLUSTER LTV development reflects market environment Total REF portfolio € mn, commitments, Basel III, 2025: Basel IV Office € mn, commitments, Basel III, 2025: Basel IV 12/24 09/25 06/25 9,251 Avg. LTV1: 12/24: 56% / 06/25: 56% / 09/25: 56% Avg. LTV1: 12/24: 62% / 06/25: 61% / 09
Slide 53: REF Portfolio Sub-segments
REF PORTFOLIO Sub-segments Evaluation of current Property Regions Challenges Risk positioning situation → In Europe, the office market recovery has a more → Shift of demand towards modern, green, centrally → Focus on good locations in main European and solid foundation than its US counterpart, locat
Slide 54: REF Portfolio Sub-segments
REF PORTFOLIO Sub-segments Evaluation of current Property Regions Regions Evaluation of current situation Challenges Challenges Risk positioning Risk positioning situation → Amid a sluggish economy, logistics leasing → Monoline logistics centres depending on → Strategic approach; expert team since 2
Slide 55: REF Portfolio Sub-segments
REF PORTFOLIO Sub-segments Evaluation of current Property Regions Regions Evaluation of current situation Challenges Challenges Risk positioning Risk positioning situation → Resilient retail sales, fueled by rising real → B-locations/older shopping centres continue → Selective approach with conseque
Slide 56: REF Portfolio Sub-segments
REF PORTFOLIO Sub-segments Evaluation of current Property Regions Regions Evaluation of current situation Challenges Challenges Risk positioning Risk positioning situation → The market for owner-occupied properties is → Cash flow under pressure due to interest → Portfolio volume of € 4.9 bn with avg
Slide 57: REF Portfolio Sub-segments
REF PORTFOLIO Sub-segments Evaluation of current Property Regions Regions Evaluation of current situation Challenges Challenges Risk positioning Risk positioning situation → Europe's travel recovery has continued in → Despite recovery many hotels due to → Selective approach and strict adherence to 2
Slide 58: Portfolio: Non-Core Unit (PIF & VP)
PORTFOLIO Non-Core Unit (PIF & VP) Regions Borrower classification1 Supranational 1% Corporation 1% Supranational 1% Corporation 1% UK 1% Other Rest of World 2% UK 1% Other Rest of World 1% Finland <1% Financial Institution 3% PSE (related) <1% Financial Institution 3% PSE (related) <1% Other Europe
Slide 59: Portfolio: Consolidation and Adjustments
PORTFOLIO Consolidation and Adjustments (C&A) Regions Borrower classification2 Internal ratings (EL classes) Poland 1% Italy 1% USA <1% France 1% UK <1% Spain Sweden <1% Supra Corporation <1% Other Europe 11% 7% 3% Financial Institution Other Rest of World 12% 100% 11% Investment PSE 5% grade3 Reg.
Slide 60: Definition of Borrower Classifications
DEFINITION OF BORROWER CLASSIFICATIONS Borrower classification Definition Sovereign Direct and indirect obligations of Central Governments, Central Banks and National Debt Agencies Sovereign (related) Indirect obligations of Non Sovereigns with an explicit first call guarantee by a Sovereign Regiona
Slide 61: Appendix
APPENDIX 1. Strategy 2027 2. Financials 3. REF New Business 4. Portfolio profile 5. Funding & Ratings 6. ESG Contact Details Results Q3/9M 2025 (IFRS, pbb Group, unaudited), 13 November 2025 61
Slide 62: Resilient and balanced funding strategy
FUNDING AND LIQUIDITY Resilient and balanced funding strategy – focus on efficient funding Resilient and balanced funding Balanced Funding Retail Deposits → Pfandbriefe as dominant and highly resilient source of funding 41.2 Mortgage → Balanced proportion of wholesale unsecured funding and retail de
Slide 63: Diversified funding base
FUNDING AND LIQUIDITY Diversified funding base Unsecured Funding Retail deposits – development and maturity profile3 € bn Wholesale Unsecured Retail Deposits Call money 1-3Y term 4-5Y term 6-10Y term WAL WAL WAL 3.7 yrs 3.9 yrs 40% 3.2 yrs 48% 48% 7.6 7.4 6.6 0.6 0.6 0.9 4.8 4.5 3.8 92% 60% term 52%
Slide 64: Mortgage Cover Pool
MORTGAGE COVER POOL Diversification by countries and property types Mortgage Cover Pool Spain 2.3% Switzerland 0.1% Key metrics Mortgage cover pool (nominal) 30/09/2025 Austria 1.5% Italy 0.9% Pfandbriefe outstanding € 15.6 bn Benelux Other 4% Nordic countries Cover funds € 17.9 bn 8% 23% Over-colla
Slide 65: Pfandbrief Cover Pool: ISC and Mortgage Lending Value
PFANDBRIEF COVER POOL ISC and the effect of the Mortgage Lending Value – very simplified example! Interest Service Cover Loan-to-Value Ratio (explanatory calculation for existing loans) Loan Valuation Refinancing MV € 100 mn Borrower’s Difference MV Equity e.g. 35% € 5.0 mn rent p.a. at 5% property
Slide 66: Own Funds and Eligible Liabilities exceed requirements
FUNDING Own Funds and Eligible Liabilities exceed regulatory requirements € bn SP5 SNP Other Subordinated Tier 1 CET 11 → Buffer for Senior Preferred (SP) investors due to high volume of capital instruments and Senior Non- MREL2 Composition of Rundown Preferred (SNP) liabilities (30/09/2025) Liabili
Slide 67: Mandated Ratings
MANDATED RATINGS Bank Ratings S&P Long-term BBB- Outlook Stable Short-term A-3 Stand-alone Rating1 bb+ Long Term Debt Ratings “Preferred” Senior Unsecured Debt2 BBB- “Non-preferred” Senior Unsecured Debt3 BB- Subordinated Debt B+ Pfandbrief Ratings Moody’s Mortgage Pfandbriefe Aa1 Public Sector Pfan
Slide 68: Appendix
APPENDIX 1. Strategy 2027 2. Financials 3. REF New Business 4. Portfolio profile 5. Funding & Ratings 6. ESG Contact Details Results Q3/9M 2025 (IFRS, pbb Group, unaudited), 13 November 2025 68
Slide 69: ESG: pbb continues to execute on its strategy
ESG pbb continues to execute on its strategy 2021: 2017: 2020: Holistic organisational set-up of ESG 1st Non-financial Introduction of Green Programmme Report (NFRD) Bond Framework Introduction of green building scoring Focus on model & pbb Green Loan Framework Transparency of pbb‘s Development of f
Slide 70: Green Loan Framework Criteria
GREEN LOAN pbb Green Loan Framework aligned with current regulatory and market developments – specific metrics defined for each criterion pbb Scoring Model MAX SCORE: 100 Points III. Additional Sustainability I. Energy Efficiency II. Building Certification Factors • Energy demand/-consumption • “Gre
Slide 71: ESG Programme
ESG ESG Programme ESG Committee → ESG at core of pbb’s strategy: • pbb can help to reduce the real estate sector`s significant CO2 impact ESG Programm Management ESG Expert Group Green Financing Committee • Green finance bank and transformation partner • Current KPIs set initial roadmap for establis
Slide 72: Continued progress in sustainable finance activities
ESG Continued progress in sustainable finance activities Green share of REF portfolio → 85.5% of REF portfolio scored – scoring of remaining portfolio ongoing (commitments, green loan eligible assets, %) → Green share of total REF portfolio currently at 31.2% resp. € 9.2 bn (36.5% based on scored po
Slide 73: Sustainability Report 2024
Sustainability Report 2024 In accordance with CSRD as part of the Annual Report 2024 CSRD-compliant sustainability report Selected details → In March 2025, pbb published its combined Sustainability Statement 2024 in accordance with the reporting requirements of the Corporate Sustainability Reporting
Slide 74: ESG KPI Development & Steering
ESG KPI Development & Steering The existing ESG KPI management concept was further developed to include GHG emissions & additional Focus GHG emission social KPIs. intensity pbb has set itself the goal of taking a quantitative approach to ESG and actively managing it. The ESG KPI management concept f
Slide 75: Appendix
APPENDIX 1. Strategy 2027 2. Financials 3. REF New Business 4. Portfolio profile 5. Funding & Ratings 6. ESG Contact Details Results Q3/9M 2025 (IFRS, pbb Group, unaudited), 13 November 2025 75
Slide 76: Contact Details
CONTACT DETAILS Michael Heuber Axel Leupold Head of Investor Relations Investor Relations +49 (0)89 2880 28778 +49 (0)89 2880 23648 michael.heuber@pfandbriefbank.com axel.leupold@pfandbriefbank.com Website www.pfandbriefbank.com/investor-relations.html © Deutsche Pfandbriefbank AG Parkring 28, 85748
Deutsche Pfandbriefbank — Q3 2025 Earnings Presentation on 6ix