Slide 1: FY 2023 Preliminary Financial Results Presentation
& PATRIZIA Innovative by heritage. FY 2023 Preliminary Financial Results Presentation 29 February 2024
Slide 2: Market environment and strategy
Market environment and strategy FY 2023
Slide 3: Facing challenging markets, while relying on strong real asset platform
Market environment and strategy Facing challenging markets, while relying on strong real asset platform Low growth economies Inflation & interest rates Geopolitics Stable relationships Net buyer posture Active asset management Despite a difficult market, PATRIZIA was able to safeguard its business a
Slide 4: Market activity dropped again, but PATRIZIA remained net buyer for its clients
Market environment and strategy Market activity dropped again, but PATRIZIA remained net buyer for its clients Signed and closed transaction volumes | EUR bn • Investment activity reassured successful Transactions signed product diversification with signed transactions 2022 of EUR 2.8bn and closed t
Slide 5: The new investments for our clients were all done in line with strategic megatrends
Market environment and strategy The new investments for our clients were all done in line with strategic megatrends PATRIZIA enters ultrafast Creating largest independent EV charging sector embedded network platform Germany Australia Supporting the transition to green energy Consolidating the owners
Slide 6: Existing AUM benefit from active asset management and best in class debt refinancing
Market environment and strategy Existing AUM benefit from active asset management and best in class debt refinancing EUR 210m refinancing for major energy storage infrastructure asset Germany Improved asset utilisation New financing secures plans to expand outlook through active asset into storage o
Slide 7: Financials & Guidance
Financials & Guidance FY 2023
Slide 8: Moderate valuation effect on AUM in line with expectations
Financials & Guidance Moderate valuation effect on AUM in line with expectations AUM development AUM development 3MFY 2023| 2023| EUREUR bn bn • AUM decreased by 3.2% to EUR 57.3bn in FY 2023 2.6 60 -0.7 -0.9 59.1 • Acquisitions of EUR 2.6bn substantially contributed -2.7 -0.2 50 to offset 57.1 nega
Slide 9: AUM base continues to be well diversified supporting recurring fee income
Financials & Guidance AUM base continues to be well diversified supporting recurring fee income EUR 57.3 bn assets under 3%3% 3% 81 % resilient Core 6% management and Core plus 5% 18% 2% 3% 27% strategies 4% 16% 4% AUM by AUM by AUM by geography 53% 18% risk style 7% 12% sector 63% 5% 11% 10% 27% Ge
Slide 10: Size and growth of recurring fees cushion market-driven drop of other revenue streams
Financials & Guidance Size and growth of recurring fees cushion market-driven drop of other revenue streams Management fees | EUR m Transaction fees | EUR m Performance fees | EUR m 251.1 61.2 241.0 +4.2% - 23.8% 46.6 22.5 4.3 - 34.6% 14.7 4.0 18.2 10.7 FY 2022 FY 2023 FY 2022 FY 2023 FY 2022
Slide 11: Higher staff costs and reorganisation expenses partly offset by decline in other expenses
Financials & Guidance Higher staff costs and reorganisation expenses partly offset by decline in other expenses Changes in operating expenses y-o-y EUR m • Operating expenses increased to EUR 293.6m (FY 2022: EUR 280.5m) +15.7% -10.8% -24.9% +63.9% • Staff costs up by +15.7% to EUR 171.1m du
Slide 12: EBITDA impacted by market headwinds and reorganisation, but supported by other income
Financials & Guidance EBITDA impacted by market headwinds and reorganisation, but supported by other income Composition of EBITDA | EUR m • EBITDA down -31.5% y-o-y to EUR 54.1m due to market-driven decrease in total service fee income and reorganisation expenses of EUR 16.3m (part -23.8% +54.
Slide 13: Strong balance sheet and financial strength safeguard flexibility in current environment
Financials & Guidance Strong balance sheet and financial strength safeguard flexibility in current environment Strong balance sheet Significant liquidity • Net cash and available liquidity down EUR m 31.12.2023 EUR m 31.12.2023 due to dividend payment, co-investments, Total assets 1,999.1 Bank balan
Slide 14: Balance sheet supports strategic fund investment initiatives
Financials & Guidance Balance sheet supports strategic fund investment initiatives Major balance sheet investments as at 31 December 2023 EUR m EUR m Seeding Non-current assets Participations Debt investment provided to 595 Debt Fund II 25 (e.g. Dawonia) telecom infrastructure business Other non-cur
Slide 15: Dividend proposal for FY 2023 and new dividend policy
Financials & Guidance Dividend proposal for FY 2023 and new dividend policy • Dividend proposal of EUR 0.34 per share for FY 2023 Dividend per share (EUR) backed by strong balance sheet and solid operating cash- flow +3.0% +6.7% +3.1% 0.34 0.33 • Sixth consecutive increase in dividends in a row +3.4
Slide 16: FY 2023 within most recent guidance range – cautious optimism for FY 2024
Financials & Guidance FY 2023 within most recent guidance range – cautious optimism for FY 2024 • Client investment activity expected to pick up Latest guidance FY Guidance only in the course of FY 2024 FY 2023 2023 FY 2024 AUM 57.0 – 62.0 57.3 54.0 – 60.0 • AUM expected to stay flat at mid-point in
Slide 17: Appendix
Appendix FY 2023
Slide 18: Financial calendar 2024
Appendix Financial calendar 2024 22 MAR 24 2023 Annual Report 15 MAY 24 3M 2024 Interim Statement with investor and analyst conference call 12 JUN 24 2024 Annual General Meeting 14 AUG 24 H1 2024 Financial Report with investor and analyst conference call 14 NOV 24 9M 2024 Interim Statement with inve
Slide 19: Contact
Appendix Contact CHRISTOPH GLASER MARTIN PRAUM Executive Director | CFO Senior Managing Director Head of Investor Relations & Group Reporting PATRIZIA SE T +49 69 643505-1114 Fuggerstrasse 26 M +49 151 19685445 86150 Augsburg, Germany investor.relations@patrizia.ag DR JANINA ROCHELL VERENA SCHOPP DE