Irish Residential Properties Reit Plc · EURONEXT:IRES

Irish Residential Properties Reit — FY2019 Earnings Presentation

19 slides from Irish Residential Properties Reit's earnings presentation, Feb 20, 2020

1. Slide 1: 2019 Year End Results – Conference Call

   Irish Residential Properties REIT plc February 2020 2019 YEAR END RESULTS – CONFERENCE CALL 1

2. Slide 2: Cautionary Statements

   D I S C L AI M E R Cautionary Statements This presentation has been prepared by Irish Residential Properties REIT PLC (the “Company” or “I-RES”) for information purposes only. This presentation has been prepared in good faith but the information contained in it has not been independently verified an

3. Slide 3: Agenda

   Highlights 2019 Financial Results Growth Strategy Portfolio Outlook Appendix – Portfolio Details 2019 Year End Results – Conference Call Irish Residential Properties REIT plc 3

4. Slide 4: 2019 Highlights

   2019 Highlights Strong Financial Performance in 2019 Revenue from InvestmentProperties Net Rental Income €62.1m • c. 22.8% increase in Net Rental Income and Earnings €50.5m • EPRA EPS up 6.2% to 6.9 cents (2018: 6.5 cents) €50.6m €41.2m €44.7m €36.3m • €56.2m increase in portfolio valuation – 5.6% g

5. Slide 5: I•RES REIT's Key Investment Attractions – The Story So Far

   I•RES REIT’s Key Investment Attractions – The Story So Far… Established Operating High Quality Performing Attractive Market Backdrop Effective Platform Asset Base & Growth Opportunities Capital Allocation • Leveraging knowledge, • Portfolio of 3,6661 high- • 2019 was another year of • Strategic depl

6. Slide 6: Financial Results

   IRISH RESIDENTIAL PROPERTIES REIT plc Financial Results 6

7. Slide 7: Financial Results 2019

   Financial Results 2019 Operating Performance Period ended 31 December 2019 2018 Revenue from Investment Properties (€m) 62.1 50.6 Net Rental Income (€m) 50.5 41.2 EPRA Earnings (€m) 33.1 27.8 EPRA Earnings per share (cents) 6.9 6.5 Profit (€m) 86.3 119.8 Basic EPS (cents) 18.0 28.0 Portfolio Perform

8. Slide 8: Financial Results 2019

   Financial Results 2019 Strong Financial Position As at 31 December 2019 2018 Total Property Value € 1,359.2m € 921.3m Net Assets € 810.2m € 618.7m EPRA Net Assets € 811.0m € 619.6m Basic NAV per share (cents per share) 155.3 142.5 EPRA NAV per share (cents per share) 154.6 142.0 Group Total Gearing

9. Slide 9: Growth Strategy

   IRISH RESIDENTIAL PROPERTIES REIT plc Growth Strategy 9

10. Slide 10: I•RES REIT Growth Strategy

    I•RES REIT Growth Strategy Multi-Channel Growth Strategy to Deliver Sustainable Long-Term Growth 1 2 3 Acquisition of Development Development Completed Assets Partnerships of Existing I•RES Properties • Continued evaluation of new • Forward purchase agreements • Opportunity to add approx. acquisitio

11. Slide 11: Strong Execution on Growth Strategy

    Strong Execution on Growth Strategy Hampton Wood Hansfield Wood II The Coast, Baldoyle Waterside, Swords Marathon XVI Portfolio Key: 128 units 95 units 52 units 55 units 815 units Completed acquisition • Acquisition in May 2018 for • Development agreement in • Acquisition in May ‘19 for c. • Acquisi

12. Slide 12: Marathon Portfolio Acquisition

    Marathon Portfolio Acquisition1 Portfolio Transaction Highlights I•RES REIT Asset Locations in DublinArea • A significant, diversified and income producing PRS portfolio of 815 Existing I•RES Properties M1 residential units Marathon XVI Portfolio Dublin Airport • Comprises 16 established properties

13. Slide 13: Portfolio

    IRISH RESIDENTIAL PROPERTIES REIT plc Portfolio 13

14. Slide 14: Large Asset Base Well Located Across Dublin

    Large Asset Base Well Located Across Dublin Key Highlights Portfolio Overview (including all committed forward purchases) 36 37 39 South Dublin Units 01 Beacon South Quarter 225 38 02 Grande Central 65 03 Rockbrook Grande Central 81 30 31 33 Portfolio to reach 3,885(1) units 04 Rockbrook South Centr

15. Slide 15: High Quality Asset Base Supporting Strong Occupancy Levels, Turnover Rates and Yields

    High Quality Asset Base Supporting Strong Occupancy Levels, Turnover Rates and Yields Distribution by Split of Distribution by Average Properties by Distribution by Age Bedrooms(1) Monthly Rent(1) Location(1)(2) (Years) (1) 5% 1% 1% 6% 1% 5% 12% 10% 3% 23% 21% 33% 5% 15% 40% 54% 64% 42% 59% €1,000 t

16. Slide 16: ESG is Central to IRES' Strategy

    ESG is Central to IRES’ Strategy Key Highlights ESG Framework Overview • Sustainability is central to IRES’ mission and strategy • ESG objectives focus on the sustainability of building development and management practices, community engagement, and tenant comfort and safety IRES Built Environmen

17. Slide 17: A Place to Call Home

    A Place to Call Home 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc 17 2019 Year End Results – Conference Call Irish Residential Properties REIT plc 17

18. Slide 18: Outlook

    IRISH RESIDENTIAL PROPERTIES REIT plc Outlook 18

19. Slide 19: Outlook

    Outlook ✓ Ireland’s largest private residential landlord with strong track recordof accretive growth since inception ✓ Strong economic fundamentals and significant demand/supply imbalance ✓ Operational excellence leveraging on ‘best-in-class’ asset andproperty management expertise ✓ High quality ass

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