Ca Immobilien Anlagen Ag · VIE:CAI

Ca Immobilien Anlagen — Q1 2022 Earnings Presentation

46 slides from Ca Immobilien Anlagen's earnings presentation, May 2022

1. Slide 1: Investor and Analyst Update Q1 2022 Results

   Investor and Analyst Update Q1 2022 Results All figures (€) as at 31 March 2022, unless otherwise stated

2. Slide 2: Q1 2022 Highlights

   Highlights Results Financing Portfolio Development ESG Appendix Q1 2022 Highlights Solid Start into Business Year 2022  EBITDA up 6.2% at €46.5 m reflecting strong operational result despite rental income reduction.  Positive revaluation result of €98.3 m primarily attributable to development prog

3. Slide 3: Q1 2022 Results

   Q1 2022 RESULTS

4. Slide 4: Q1 2022 Results: Strong Start into Business Year 2022

   Highlights Results Financing Portfolio Development ESG Appendix Q1 2022 Results Strong Start into Business Year 2022 Q1 ’22 Q1 ’21 Major Earnings Drivers Q1 2022 Profit and Loss (€m) +/(-) 1 1 Rental income 62.2 63.6 (2.1%)  Slight decline in rental income due Net rental income 48.6 50.5 (3.8%) to

5. Slide 5: Rental Income Slightly Down Primarily due to Disposals

   Highlights Results Financing Portfolio Development ESG Appendix Q1 2022 Results Rental Income Slightly Down Primarily due to Disposals Key Drivers Q1 2022 Rental Income Bridge (€m)  Rental income decline driven by property disposals and a higher vacancy rate in Central- and Eastern European core ma

6. Slide 6: FFO I Slightly Down Mainly due to Non-Strategic Asset Disposals

   Highlights Results Financing Portfolio Development ESG Appendix Q1 2022 Results FFO I Slightly Down Mainly due to Non-Strategic Asset Disposals Funds from Operations (€m) Major Drivers Q1 ’22 Q1 ’21 +/(-) 1 1 Net rental income 48.6 50.5 (3.8%)  Slightly lower rental income on the Result from servic

7. Slide 7: FFO I Bridge

   Highlights Results Financing Portfolio Development ESG Appendix Q1 2022 Results FFO I Slightly Down Mainly due to Non-Strategic Asset Disposals Q1 2022 FFO I Bridge (€m) 1 2 1 3 5 4 Key Drivers 1 Positive contribution by the acquisition of the Kasernenstraße property in Duesseldorf and recent develo

8. Slide 8: Balance Sheet as at March 31, 2022

   Highlights Results Financing Portfolio Development ESG Appendix Q1 2022 Results Balance Sheet as at March 31, 2022 Balance Sheet (€m) Q1 ’22 Q4 ’21 +/(-) Comments 1 Investment properties 5,062.7 4,984.3 1.6% 1 2 Properties under development 1,216.2 1,097.1 10.8%  Mainly up because of acquisition of

9. Slide 9: Balance Sheet Metrics as at March 31, 2022

   Highlights Results Financing Portfolio Development ESG Appendix Q1 2022 Results Balance Sheet Metrics as at March 31, 2022 Balance Sheet (€m) Q1 ’22 Q4 ’21 +/(-) Total assets 7,263.3 7,114.4 2.1% Property assets 6,425.0 6,254.2 2.7% Cash and cash equivalents 565.7 633.1 (10.7%) Shareholders‘ equity

10. Slide 10: EPRA Net Asset Value (NRV, NTA, NDV)

    Highlights Results Financing Portfolio Development ESG Appendix Q1 2022 Results EPRA Net Asset Value (NRV, NTA, NDV) Q1 ‘22 Q4 ‘21 (€m) EPRA NRV EPRA NTA EPRA NDV EPRA NRV EPRA NTA EPRA NDV IFRS Equity attributable to shareholders 3,436.2 3,436.2 3,436.2 3,290.9 3,290.9 3,290.9 i) Hybrid instruments

11. Slide 11: EPRA Net Asset Value Bridge

    Highlights Results Financing Portfolio Development ESG Appendix Q1 2022 Results EPRA Net Asset Value (NDV, NTA, NRV) Q1 2022 EPRA NDV/NTA/NRV Bridge (€ per share) 3 2 1 EPRA Net Disposal Value: reflects a scenario where deferred tax, financial instruments, and certain other adjustments are calculate

12. Slide 12: Key Metrics

    Highlights Results Financing Portfolio Development ESG Appendix Q1 2022 Results Key Metrics Key Metrics (€m) Q1 2022 Q1 2021 +/(-) Rental income 62.2 63.6 (2.1%) Net rental income 48.6 50.5 (3.8%) EBITDA 46.5 43.8 6.2% EBIT 161.0 110.8 45.3% Earnings before tax (EBT) 180.8 68.7 163.2% Consolidated n

13. Slide 13: Financing

    BENCHMARKS. URBAN — _a ma" \ | | ee (US ee oe == es ws

14. Slide 14: Well-Balanced Maturity Profile and Diversified Debt Structure

    Highlights Results Financing Portfolio Development ESG Appendix Financing Well-Balanced Maturity Profile and Diversified Debt Structure Debt Structure Debt Maturity Profile 1 (€m) 800  Follow-up financings have been secured for construction loans (secured debt developments). 700 600  100% of bank

15. Slide 15: Stable Debt Maturities and Record Low Financing Costs

    Highlights Results Financing Portfolio Development ESG Appendix Financing Stable Debt Maturities and Record Low Financing Costs Key Financing Metrics 1 Average Debt Maturity (years) 1  Repayment of corporate bond in February 2022. 7.0 6.0  New sustainability-linked revolving credit facility (RCF)

16. Slide 16: Robust Financial Profile with Strong Equity Base

    Highlights Results Financing Portfolio Development ESG Appendix Financing Robust Financial Profile with Strong Equity Base Leverage (%) Interest Coverage (x) 55% 6.0x 50% 5.0x 47.3% 3.8x 4.0x 45% 43.6% 3.0x 3.7x 40% 2.0x 35% 34.7% 1.0x 30% 0.0x 2016 2017 2018 2019 2020 2021 Q1 2022 2016 2017 2018 20

17. Slide 17: Portfolio

    PORTFOLIO

18. Slide 18: Property Portfolio Key Metrics

    Highlights Results Financing Portfolio Development ESG Appendix Property Portfolio Key Metrics Property Portfolio Q1 ‘22 Q4 ‘21 +/(-) Gross Asset Value (GAV) €m 6,425.0 6,254.2 2.7% thereof Investment Properties 1 €m 5,077.0 4,995.5 1.6% thereof Active Development Projects €m 1,013.6 920.3 10.1% the

19. Slide 19: Investment Properties KPI Overview (I)

    Highlights Results Financing Portfolio Development ESG Appendix Investment Properties KPI Overview (I) Investment Properties Development over Time (€m) 6,000 €4,995 5,077 5,000 4,736 4,308 4,000 3,760 3,161 2,930 3,000 2,000 1,000 0 2016 2017 2018 2019 2020 2021 Q1 2022 Investment Properties (€m) Q1

20. Slide 20: Investment Properties KPI Overview (II)

    Highlights Results Financing Portfolio Development ESG Appendix Investment Properties KPI Overview (II) GLA over Time (ksqm) Occupancy over Time (%) 1,500 1,458 100.0% 1,443 1,450 98.0% 1,404 96.1% 1,400 96.0% 95.2% 94.8% 1,356 1,356 94.4% 1,350 94.0% 1,291 92.3% 1,300 1,278 92.0% 89.8% 1,250 90.0%

21. Slide 21: Investment Properties KPI Overview (III)

    Highlights Results Financing Portfolio Development ESG Appendix Investment Properties KPI Overview (III) Annualized Rent over Time (€m) Gross Initial Yield over Time (%) 250 7.0% 238 6.1% 6.0% 229 5.8% 226 6.0% 5.4% 223 5.1% 225 214 5.0% 4.6% 4.6% 203 4.0% 200 196 3.0% 2.0% 175 1.0% 150 0.0% 2016 20

22. Slide 22: Investment Properties WAULT

    Highlights Results Financing Portfolio Development ESG Appendix Investment Properties WAULT Weighted Average Unexpired Lease Term (years) Tenant Industry Mix (Annualized Rent) 14 Business & 12 12.3 9% Professional Services 2% Technology 10 27% 11% 8 Consumer Services 7.2 & Leisure 6 5.5 6.1 Manufact

23. Slide 23: Like-for-Like Performance

    Highlights Results Financing Portfolio Development ESG Appendix Investment Properties Like-for-Like Performance Market Fair Value (€m) Annualized Rent (€m) Yield (%) 1 Occupancy (%) 2 Q1 ‘22 Q1 ‘21 +/(-) Q1 ‘22 Q1 ‘21 +/(-) Q1 ‘22 Q1 ‘21 +/(-) Q1 ‘22 Q1 ‘21 +/(-) Austria 459.5 453.1 1.4% 24.6 23.0 7

24. Slide 24: Leasing Q1 2022

    Highlights Results Financing Portfolio Development ESG Appendix Property Portfolio Leasing Q1 2022 Market Pre-leasing New Leasing Renewal (sqm) Total Leasing Annualized GRI Average Office + / (-) to ERV (sqm) (sqm) (sqm) (€m) Rent (€ psqm) (%) Austria 0 1,003 451 1,454 0.2 12.0 10.4% Czechia 0 8,365

25. Slide 25: Closed Disposals 2022 YTD

    Highlights Results Financing Portfolio Development ESG Appendix Property Portfolio Closed Disposals 2022 YTD Property Sales Share Country City Property Sector GLA GRI at Proceeds Premium / date (%) Status (sqm) Sale (€m) Discount (€m) to BV (%) 1 R70 Q1 ‘22 100% HU Budapest Investment Office 19,241

26. Slide 26: Selected Planned Disposals 2022

    Highlights Results Financing Portfolio Development ESG Appendix Property Portfolio Selected Planned Disposals 2022 Handelskai 388, Vienna Rheinwiesen I, Mainz 1 Kaufmannshof, Mainz 1 Country Austria Country Germany Country Germany Status Income Status Land Status Development Sector Office Sector Mix

27. Slide 27: Investment Property Acquisition (I)

    Highlights Results Financing Portfolio Development ESG Appendix Investment Properties Investment Property Acquisition (I) Acquisition of Kasernenstraße 67 Office Property in Duesseldorf  In January 2022 CA Immo closed the acquisition of a fully refurbished modern A class 10,412 sqm office building

28. Slide 28: Investment Property Acquisition (II)

    Highlights Results Financing Portfolio Development ESG Appendix Investment Properties Investment Property Acquisition (II) Kasernenstraße 67 Property in Duesseldorf Investment Rationale  High quality, A class, clean, green, healthy, safe, modern office with the required technology and specification

29. Slide 29: Development

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30. Slide 30: Development Projects Under Construction: Project Overview

    Highlights Results Financing Portfolio Development ESG Appendix Development Projects Under Construction Project Overview For Own Portfolio CAI Investment Outstanding Planned Expected City Main Usage Pre-let Scheduled share Volume Investment Rentable Gross Yield Ratio GLA First Tenant (€m) 1 (€m) Are

31. Slide 31: ONE, Frankfurt

    Highlights Results Financing Portfolio Development ESG Appendix Development Projects Under Construction ONE, Frankfurt Key Metrics Total investment volume €430.9 m Outstanding investment €90.1 m Rental area 68,575 sqm Expected yield on cost 5.2% Scheduled first tenant Q2 2022 handover Pre-let ratio

32. Slide 32: Grasblau, Berlin

    Highlights Results Financing Portfolio Development ESG Appendix Development Projects Under Construction Grasblau, Berlin Key Metrics Total investment volume €68.6 m Outstanding investment €23.2 m Rental area 13,350 sqm Expected yield on cost 8.1% Scheduled first tenant Q3 2022 handover Pre-let ratio

33. Slide 33: Hochhaus am Europaplatz, Berlin

    Highlights Results Financing Portfolio Development ESG Appendix Development Projects Under Construction Hochhaus am Europaplatz, Berlin Key Metrics Total investment volume €140.4 m Outstanding investment €38.4 m Rental area 22,948 sqm Expected yield on cost 6.2% Scheduled first tenant Q1 2024 handov

34. Slide 34: Upbeat, Berlin

    Highlights Results Financing Portfolio Development ESG Appendix Development Projects Under Construction Upbeat, Berlin Key Metrics Total investment volume €330.4 m Outstanding investment €279.9 m Rental area 34,911 sqm Expected yield on cost 5.0% Scheduled first tenant Q1 2026 handover Pre-let ratio

35. Slide 35: Environmental, Social & Governance

    ENVIRONMENTAL, SOCIAL & GOVERNANCE

36. Slide 36: Environmental, Social & Governance: ESG Focus Areas

    Highlights Results Financing Portfolio Development ESG Appendix Environmental, Social & Governance 6 ESG Focus Areas Reduction of energy consumption and carbon footprint throughout the building life cycle. Climate & Energy Resource Reduce resource consumption Creating a safe, inclusive and Health &

37. Slide 37: CO2 Reduction Target & Measures

    Highlights Results Financing Portfolio Development ESG Appendix Environmental, Social & Governance CO2 Reduction Target & Measures Certified Assets (Book Value, €m) CO2 Reduction Target 4,500 3,964  Reduction of the average CO2 emission intensity (Scope 1+2) of the 4,000 existing portfolio by 50% b

38. Slide 38: ESG Governance

    Highlights Results Financing Portfolio Development ESG Appendix Environmental, Social & Governance ESG Governance Organizational Integration and Management  Integration into the corporate ESG Committee of the Supervisory Board Semiannual strategy. Strategy, meetings  Defined processes for ESG Moni

39. Slide 39: Outlook for 2022

    Highlights Results Financing Portfolio Development ESG Appendix Outlook for 2022 Portfolio Grasblau, Berlin ONE, Frankfurt  In addition to the increased focus of the portfolio on Class A office buildings in our core markets, our focus remains on sustainability and intensive tenant retention. The go

40. Slide 40: Appendix

    APPENDIX APPENDIX

41. Slide 41: Property Portfolio Overview

    Highlights Results Financing Portfolio Development ESG Appendix Property Portfolio Overview Property Portfolio (GAV) by Region by City by Structure 2% 8% Berlin Investment 5% 6% properties Munich 16% 7% 29% Germany Frankfurt Land Warsaw 3% reserves 2 €6.4 bn €6.4 bn €6.4 bn 31% 8% CEE Budapest Total

42. Slide 42: Outstanding market position in Germany

    Highlights Results Financing Portfolio Development ESG Appendix Development Outstanding market position in Germany Key facts Cube, Berlin Tower 185, Frankfurt  CA Immo owns prime land reserves in sought-after locations primarily in Berlin, Frankfurt and Munich.  Successful delivery of large-scale

43. Slide 43: Development Commercial Value Chain

    Highlights Results Financing Portfolio Development ESG Appendix Development Commercial Value Chain Zoning & Planning Under Construction Completion Millennium plot, Frankfurt Upbeat, Berlin Hochhaus am Europaplatz, Berlin MY.B, Berlin  Potential mixed use (commercial/ Technical parameters: Technical

44. Slide 44: CA Immo Share and Shareholder Structure

    Highlights Results Financing Portfolio Development ESG Appendix Capital Markets CA Immo Share and Shareholder Structure Share-related Key Figures Largest Shareholders (by Total Shares) 1 Largest shareholders (by Voting Rights) 1 31.03.2022 31.12.2021 # of shares 106,496,426 106,496,426 32% 34% Treas

45. Slide 45: Analyst Coverage & Conference Attendance

    Highlights Results Financing Portfolio Development ESG Appendix Capital Markets Analyst Coverage & Conference Attendance Equity Analyst Coverage Analyst Date Target Price (€) Recommendation  CA Immo was assessed by nine financial HSBC 13.04.2022 €40.50 Buy institutions in the first quarter of 2022.

46. Slide 46: Contact Details

    Capital Markets/Investor Relations Contact Details Christoph Thurnberger Julian Wöhrle Group Head of Capital Markets Deputy Head of Capital Markets Co-Head of Corporate Development Committee Tel.: +43 (1) 532 59 07 504 Tel.: +43 (1) 532 59 07 654 E-Mail: christoph.thurnberger@caimmo.com E-Mail: juli

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