Ca Immobilien Anlagen Ag · VIE:CAI

Ca Immobilien Anlagen — CA Immo — Q1 2021 Earnings Presentation

43 slides from Ca Immobilien Anlagen's earnings presentation, May 26, 2021

1. Slide 1: 1Q 2021 Earnings Presentation

   We create and manage places where people love to work. 1Q 2021 EARNINGS PRESENTATION May 26, 2021 All figures (€) as at 31 March 2021, unless otherwise stated

2. Slide 2: Key Achievements / Earnings

   Highlights Results Financing Property Cap. Markets 1Q 2021 Key Achievements / Earnings yoy Soild start into business year 2021 NET RENTAL INCOME +2%  We have been able to deliver a top line growth in 1Q 2021 with rental income up 2% yoy to €63.6 m. €50.5 m  Net rental income increased to €50.5 m (

3. Slide 3: Key Achievements / Portfolio

   Highlights Results Financing Property Cap. Markets 1Q 2021 Key Achievements / Portfolio yoy Portfolio Growth and Capital Rotation GROSS ASSET VALUE +8%  Portfolio growth through development pipeline despite disposals of non-strategic assets. Completion of the ZigZag office building in Mainz and tra

4. Slide 4: 1Q 2021 Results

   1Q 2021 RESULTS

5. Slide 5: Strong operational result with solid EBITDA growth

   Highlights Results Financing Property Cap. Markets 1Q 2021 Results Strong operational result with solid EBITDA growth Profit and loss (€m) 1Q 2021 1Q 2020 +/(-) Major earnings drivers Rental income 63.6 62.4 1.8% 1 1 Net rental income 50.5 49.6 1.9%  Solid top line growth despite Covid- 19 pandemic

6. Slide 6: Solid top-line growth due to acquisitions and development completions

   Highlights Results Financing Property Cap. Markets 1Q 2021 Results Solid top-line growth due to acquisitions and development completions Key drivers 1Q 2021 net rental income bridge (€m)  Rental income increase driven by portfolio growth through development completions and acquisitions of recent qu

7. Slide 7: FFO I at €31.4 m 4.5% up compared to previous year

   Highlights Results Financing Property Cap. Markets 1Q 2021 Results FFO I at €31.4 m 4.5% up compared to previous year Funds from operations (€m) 1Q 2021 1Q 2020 +/(-) Major drivers 1 1 Net rental income 50.5 49.6 1.9%  Rental income increase driven by Result from services 2.2 2.3 (5.4%) development

8. Slide 8: FFO I bridge

   Highlights Results Financing Property Cap. Markets 1Q 2021 Results FFO I at €31.4 m 4.5% up compared to previous year 1Q 2021 FFO I bridge (€m) 3 4 6 5 2 31.4 1 Key drivers 1 Decrease in rental income mainly due to lower rental income in Hungary. 2 Positive contribution by acquisitions of investment

9. Slide 9: Balance sheet as at March 31, 2021

   Highlights Results Financing Property Cap. Markets 1Q 2021 Results Balance sheet as at March 31, 2021 Balance sheet (€m) 31.03.2021 31.12.2020 +/(-) Comments 1 Investment properties 4,734.3 4,723.1 0.2% 1 853.0 791.1 7.8%  Sale of a logistics property in Kassel. 2 Properties under development Own-u

10. Slide 10: Balance sheet metrics as at March 31, 2021

    Highlights Results Financing Property Cap. Markets 1Q 2021 Results Balance sheet metrics as at March 31, 2021 Balance sheet (€m) 31.03.2021 31.12.2020 +/(-) Total assets 6,967.4 6,820.3 2.2% Property assets 5,672.0 5,596.2 1.4% Cash and cash equivalents 1,057.9 934.9 13.2% Shareholders‘ equity 3,172

11. Slide 11: EPRA Net Asset Value (NRV, NTA, NDV)

    Highlights Results Financing Property Cap. Markets 1Q 2021 Results EPRA Net Asset Value (NRV, NTA, NDV) 31.03.2021 31.12.2020 (€m) EPRA NRV EPRA NTA EPRA NDV EPRA NRV EPRA NTA EPRA NDV IFRS Equity attributable to shareholders 3,172.0 3,172.0 3,172.0 3,128.2 3,128.2 3,128.2 i) Hybrid instruments (Con

12. Slide 12: EPRA Net Asset Value bridge

    Highlights Results Financing Property Cap. Markets 1Q 2021 Results EPRA Net Asset Value (NDV, NTA, NRV) 1Q 2021 EPRA NDV/NTA/NRV bridge (€ per share) 4 45.00 2.53 44.52 3 0.71 0.03 0.40 41.14 0.12 4.87 0.26 40.00 2 1.18 0.30 1 35.31 35.00 (0.02) (0.40) 34.54 30.00 Diluted Reval- Goodwill Fixed EPRA

13. Slide 13: Key Metrics

    Highlights Results Financing Property Cap. Markets 1Q 2021 Results Key Metrics Key metrics (€m) 1Q 2021 1Q 2020 +/(-) Rental income 63.6 62.4 1.8% Net rental income 50.5 49.6 1.9% EBITDA 43.8 38.8 12.9% EBIT 110.8 26.1 324.1% Earnings before tax (EBT) 68.7 46.6 47.4% Consolidated net income 41.4 33.

14. Slide 14: Financing

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

15. Slide 15: Well-balanced maturity profile and diversified debt structure

    Highlights Results Financing Property Cap. Markets Financing Well-balanced maturity profile and diversified debt structure Debt structure 1 Debt maturity profile (€ m) 800  Well-staggered maturity profile with low amounts 99% of the convertible bond due over the coming years. 700 converted into sha

16. Slide 16: Stable debt maturities and record low financing costs

    Highlights Results Financing Property Cap. Markets Financing Stable debt maturities and record low financing costs Key financing metrics 1 Average debt maturity (years) 1  Bond issuances in 2020 improved key financing 7.0 metrics. 6.0 5.8  Average financing costs incl. interest rate hedges 5.0 4.7

17. Slide 17: Robust financial profile with strong equity base

    Highlights Results Financing Property Cap. Markets Financing Robust financial profile with strong equity base Leverage Interest coverage 55% 6.0x 5.0x 50% 49.6% 4.0x 3.6x 45% 45.5% 3.5x 3.0x 40% 2.0x 35% 1.0x 30.9% 0.0x 30% 2016 2017 2018 2019 2020 Q1 2021 2016 2017 2018 2019 2020 Q1 2021 Equity rat

18. Slide 18: Portfolio

    : _ PORTFOLIO SURBAN” Jf '; BENCH MARIS:

19. Slide 19: Property Portfolio Key metrics

    Highlights Results Financing Property Cap. Markets Property Portfolio Key metrics Property portfolio 31.03.2021 31.12.2020 +/(-) Gross asset value (GAV) €m 5,672.0 5,596.2 1.4% thereof investment properties €m 4,746.7 4,736.0 0.2% thereof investment properties under development 1 €m 853.0 791.1 7.8%

20. Slide 20: Property Portfolio Overview

    Highlights Results Financing Property Cap. Markets Property Portfolio Overview Property portfolio by region (book value) Property portfolio by city (book value) Property portfolio by structure (book value) 1% Berlin 9% 5% Investment 7% Munich 10% properties 26% 5% 8% Vienna Germany Land Frankfurt re

21. Slide 21: Investment Portfolio Overview

    Highlights Results Financing Property Cap. Markets Investment Portfolio Overview Book value (€m) 1Q 2021 1 1Q 2020 2 +/(-) Occupancy (%) 1Q 2021 1 1Q 2020 2 +/(-) Austria 524.4 565.5 (7.3%) Austria 89.7 91.5 (180 bps) Czechia 387.9 390.7 (0.7%) Czechia 93.8 95.3 (144 bps) Germany 2,130.7 1,681.2 26.

22. Slide 22: Investment Portfolio WAULT

    Highlights Results Financing Property Cap. Markets Investment Portfolio WAULT Well-staggered lease maturity profile Weighted average unexpired lease term (WAULT, years) 14  Strong tenant retention rate across the portfolio. 12.9 12  CA Immo’s organic growth strategy and the corresponding high shar

23. Slide 23: Like-for-like performance

    Highlights Results Financing Property Cap. Markets Investment Portfolio Like-for-like performance Market Fair value (€m) Rental income (P&L, €m) Yield (%) 1 Occupancy (%) 2 1Q 21 1Q 20 +/(-) 1Q 21 1Q 20 +/(-) 1Q 21 1Q 20 +/(-) 1Q 21 1Q 20 +/(-) Austria 524.4 531.6 (1.4%) 7.1 6.9 3 3.2% 5.2 5.2 +3 bp

24. Slide 24: Leasing

    Highlights Results Financing Property Cap. Markets Property Portfolio Leasing Leasing update 1Q 2021 Market Project pre- New leases / Lease Total leasing % of total Total leasing In % of total letting (sqm) expansions extensions (sqm) investment investment (sqm) (sqm) portfolio portfolio Austria - 2

25. Slide 25: Capital rotation (I)

    Highlights Results Financing Property Cap. Markets Investment Portfolio Capital rotation (I) Closed disposals 2021 YTD Property CAI Country City Property Sector GLA GRI at sale Gross Premium / share status (sqm) (€m) proceeds discount to (%) (€m) BV (%) 1 1Q 2021 Land plot Duesseldorf 100% GER Duess

26. Slide 26: Capital rotation (II)

    Highlights Results Financing Property Cap. Markets Investment Portfolio Capital rotation (II) Selected planned disposals 2021 Meininger Hotel Rembrandstrasse, Vienna Canada Square, Budapest Wspólna, Warsaw Country Austria Country Hungary Country Poland Status Investment Status Investment Status Inve

27. Slide 27: Development

    BENCHMARKS. URBAN k- = Lu = o. G i) Lu > iu Q

28. Slide 28: Development start Upbeat, Berlin (I)

    Highlights Results Financing Property Cap. Markets Development Development start Upbeat, Berlin (I) Project overview Long-term lease agreement with investment grade leading financial institution Deutsche Kreditbank AG  Lease covers 34,850 sqm of office, storage, and other area types (F&B, trading,

29. Slide 29: Development start Upbeat, Berlin (II)

    Highlights Results Financing Property Cap. Markets Development Development start Upbeat, Berlin (II) Key metrics Total investment volume ~ €283 m Outstanding investment €249 m Rental area 34,911 sqm Expected yield on cost 5.2% Scheduled completion 1Q 2026 Economic pre-let ratio 100% Key facts  Loca

30. Slide 30: Development start Upbeat, Berlin (III)

    Highlights Results Financing Property Cap. Markets Development Development start Upbeat, Berlin (III) Overview Europacity, Berlin 30

31. Slide 31: Commercial value chain

    Highlights Results Financing Property Cap. Markets Development Commercial value chain Zoning Planning Under construction Completion Millennium plot, Frankfurt Upbeat, Berlin Hochhaus am Europaplatz, Berlin MY.B, Berlin Investment property Under construction Former development Land reserve  High ris

32. Slide 32: Residential value chain

    Highlights Results Financing Property Cap. Markets Development Residential value chain Zoning/Planning Under construction/Completion Eggartensiedlung, Munich Ratoldstraße, Munich NEO residential, Munich  50:50 joint venture with local developer  In 2016 the urban landscape competition  Part of re

33. Slide 33: Mississippi House & Missouri Park, Prague

    Highlights Results Financing Property Cap. Markets Development Projects Under Construction Mississippi House & Missouri Park, Prague (Completion in 2021) Key metrics Total investment volume €64.5 m Outstanding investment €24.8 m Rental area 20,760 sqm Expected yield on cost 6.5% Scheduled completion

34. Slide 34: ONE, Frankfurt

    Highlights Results Financing Property Cap. Markets Development Projects Under Construction ONE, Frankfurt (Completion in 2022) Key metrics Total investment volume €413.3 m Outstanding investment €172.4 m Rental area 68,575 sqm Expected yield on cost 5.6% Scheduled completion 1Q 2022 Economic pre-let

35. Slide 35: Grasblau, Berlin

    Highlights Results Financing Property Cap. Markets Development Projects Under Construction Grasblau, Berlin (Completion in 2023) Key metrics Total investment volume €67.0 m Outstanding investment €39.9 m Rental area 13,383 sqm Expected yield on cost 8.3% Scheduled completion 2Q 2023 Economic pre-let

36. Slide 36: Hochhaus am Europaplatz, Berlin

    Highlights Results Financing Property Cap. Markets Development Projects Under Construction Hochhaus am Europaplatz, Berlin (Completion in 2023) Key metrics Total investment volume €141.5 m Outstanding investment €73.5 m Rental area 22,948 sqm Expected yield on cost 6.3% Scheduled completion 4Q 2023

37. Slide 37: Development Projects Under Construction Overview

    Highlights Results Financing Property Cap. Markets Development Projects Under Construction Project overview Investment portfolio Investment Outstanding Planned Gross yield Main usage Economic Scheduled volume investment rentable on cost (%) pre-let ratio completion (€m) 1 (€m) area (sqm) (%) Upbeat

38. Slide 38: Capital Markets Appendix

    CAPITAL MARKETS APPENDIX

39. Slide 39: Anticipated Mandatory Offer by Starwood

    Highlights Results Financing Property Cap. Markets Anticipated Mandatory Offer by Starwood Update Starwood increases shareholding slightly after offer period  Following BidCo’s announcement on 8 January 2021 of its intention to launch an anticipated mandatory takeover offer to the shareholders and

40. Slide 40: Outlook: Further improving resilience and enhancing growth

    Highlights Results Financing Property Cap. Markets Capital Markets Outlook Further improving resilience and enhancing growth Operational targets  Continuation of organic growth through profitable project developments.  Selective acquisitions of investment properties with value-creation potential i

41. Slide 41: CA Immo share and shareholder structure

    Highlights Results Financing Property Cap. Markets Capital Markets CA Immo share and shareholder structure Share related key figures Largest shareholders (by number of shares) 1 Shareholder structure (by number of shares) 31.03.2021 31.12.2020 Institutional # of shares 98,808,336 98,808,336 Starwood

42. Slide 42: Analyst coverage & Conference attendance

    Highlights Results Financing Property Cap. Markets Capital Markets Analyst coverage & Conference attendance Equity analyst coverage Analyst Date Target price (€) Recommendation  Median and average target price of analyst Erste Group April 21, 2021 43.00 Accumulate recommendations above current shar

43. Slide 43: Contact Details

    Capital Markets/Investor Relations Contact Details Christoph Thurnberger Julian Wöhrle Head of Capital Markets 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: julian.woehrle@caimmo.com

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