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Ascencio Sa — Degroof Petercam Real Estate Seminar September 2019

16 slides from Ascencio Sa's conference presentation, September 2019

  1. Slide 1: Degroof Petercam Real Estate Seminar

    DEGROOF PETERCAM - Real Estate Seminar September 2019 1

  2. Slide 2: We invest in out of town retail real estate

    We invest in out of town retail real estate While beeing connected to our clients, our team and our markets. With the ambition to grow, following the market cycles. With « positive mind » as key word. „ 2

  3. Slide 3: Agenda

    Agenda Ascencio in a nutshell p. p. 4 4 Strategy p. 6 Real Estate Portfolio p. 7 Financing Structure p. 13 Data per share p. 14 3

  4. Slide 4: Ascencio in a nutshell

    Ascencio in a nutshell 102 buildings We are resilient „ Belgium, France & Spain A dozen of activity sectors – dominance of the food sector (>30%) Market capitalisation : 376 KEUR

  5. Slide 5: A dividend offering an attractive yield

    A dividend offering an attractive yield (> 6%) A small & agile for investors team EPRA Index Challenges in the retail sector

  6. Slide 6: Ascencio Strategy

    Ascencio Strategy Target investments • Retail Park out-of-town • Stand alone with top location • Structures urban retail complex Sectorial diversification • Optimization of the commercial mix • Focus on food sector • Progressive inclusion of entertainment experience • Collecting digital data on site

  7. Slide 7: Real Estate Portfolio: Key figures at 30/06/2019

    Real Estate Portfolio Key figures at 30/06/2019 Fair Passing Occupancy Gross Yield Value Rents Rate 623 42 96,6% 6,5% MEUR MEUR 7

  8. Slide 8: Real Estate Portfolio: Growth

    Real Estate Portfolio Growth Room for investment (70MEUR) „ 8

  9. Slide 9: Geographical diversification

    Real Estate Portfolio Geographical diversification Belgium €377 million of fair value 61 % of total portfolio 289,674 m2 France €213 million of fair value 34 % of total portfolio 113,991 m2 Spain €33 million of fair value 5 % of total portfolio 12,253 m2 9

  10. Slide 10: Diversification by type and by sector

    Real Estate Portfolio Diversification by type & by sector (at 31/03/2019) 5% 3% 11% Stand alone 13% Food Cluster - other Other 15% 12% Fashion Grands Frais 33% Food 11% 15% Sports & Stand alone Leisure - food 57% 8% Retail Park Electrical appliances 10% DIY 8% Home Deco - Furniture 10

  11. Slide 11: Top tenants

    Real Estate Portfolio Top 10 tenants 11

  12. Slide 12: 33% of rental revenue in the food sector

    Real Estate Portfolio 33% of rental revenue in the food sector Defensive & resilient „ Good locations Consumers’ basic needs Limited e-commerce competition Non-cyclical sector 12

  13. Slide 13: Financing Structure

    Financing Structure Average cost of debt 1,90% 2,69% 2,94% Average Maturity of debt 4,4 ans 3,3 ans 3,7 ans Hedging Ratio 87,00% 89,90% 85,10% Debt Ratio according to Royal Decree 40,90% 40,80% 42,56% (*) Cost of interest hedging and reservation commissions included —— ascencio

  14. Slide 14: Data per share

    Data per share 30/06/2019 30/06/2018 30/09/2018 30/09/2017 (9months) (9months) (12months) (12months) Total number of shares 6.595.985 6.497.594 6.595.985 6.497.594 NAV IFRS € 54,45 € 53,90 € 55,19 € 53,29 NAV EPRA € 56,02 € 55,22 € 56,34 € 54,95 EPRA Earnings per share € 3,32 € 2,94 € 4,05 € 4,04 Gr

  15. Slide 15: Data per share

    Data per share 30/06/2019 30/06/2018 30/09/2018 30/09/2017 Share price on 30/09 € 57,00 € 53,40 € 51,00 € 61,25 Premium/ Discount (NAV EPRA) 1,7% -3,3% -9,5% 11,5% Gross dividend per share - - € 3,40 € 3,30 Gross yield ( share price 30/09) - - 6,7% 5,4% 15

  16. Slide 16: Thank you for your time. Any questions?

    Thank you for your time Any questions? 16

Ascencio — Degroof Petercam Real Estate Seminar September 2019 on 6ix