Peach Property Group Ag · SIX:PEAN

Peach Property — Investor Presentation (April 2023)

48 slides from Peach Property's investor presentation, Apr 13, 2023

Slide 2: Agenda
Agenda 1. Peach Property & the German real estate market 2. Business Performance FY 2022 3. Financial Performance FY 2022 4. ESG Update 5. Guidance & mid-term financial targets 6. Appendix * — Portfolio details ° ESG * — Share data & financial calendar ©peach
Slide 3: Peach Property Group at a glance
Peach Property Group ata glance Active real estate investor in the attractive German residential market 27549 residential units Helmstedt (Lower Saxony) 2 150units Bielefeld / Minden (North Rhine-Westphalia) 1.650 units Ruhr area (North Rhine-Westphalia) 14 830 units North Hesse (Hesse) ~4.250units
Slide 4: Portfolio structure as of December 31, 2022
Portfolio structure as of December 31, 2022 estment properties €27m (1%, Total portfolio wa market value y aN : €2664m | PMV f 0) peach Market values determined by WuestParner AG as of December 3, 2022, excluding rightoF use assets
Slide 5: Portfolio fully focused on residential space
Portfolio fully focused on residential space Rental income by use category as of Dec 31, 2022 In % of total rentalincome Parking & other Commercial 3.3% 3.5% \ | Residential 93.2% Breakdown by federal state as of Dec 31, 2022 In % of target rental income 2.6% 4.0% 4.0% \ | = North Rhine-Westphalia =
Slide 6: Typical properties in Peach's portfolio
Typical properties in 1 XGevelel Ss portfolio >peach
Slide 7: Peach Points — our regional tenant shops
Peach Points — our regional tenant shops Cornerstone of direct dialogue with our tenants CS Dortmund | & Il Munster / FaBberg Recklinghausen Helmstedt Marl Gelsenkirchen Essen Central point of contact for rental and adminis matters Oberhausen Witzenhausen Erkrath. Heidenheim \ 3 -e Ludwigshafen With
Slide 8: Overview German real estate market
Overview German real estate market Germany is the largest housing market in Europe... Listed companies have only small share of the residential rental market? Total population per country sm Total households! 839 654 68.2 423 30.3 285 e oO ..With a strong rental culture... 60.4 O 26.4 Non-profit org
Slide 9: The environment in 2022
The environment in 2022 Challenging market conditions in German real estate market... ... but fundamentals for existing assets developing positively Risk-free rates? +237 bps Investment volume residential portfolios? -33% Mortgage lending* -43% European Real Estate shares® -39% Bond spreads® +230 bp
Slide 10: Structural undersupply of housing in Germany is increasingly evident
Structural undersupply of housing in Germany is increasingly evident Structural undersupply in German housing market German net immigration on the highest level since WW II$ 700 A = Completed new apartments (in thousands) oS) ——Government target rate (in thousands) 1000 600 600 500 200 - 200 400 BSS
Slide 11: Inflation and scarcity drive market rents
Inflation and scarcity drive market rents Relevant Peach cities show strong market rent growth! Rent growth counteracts value correction Property \dex by G Pfandbriefbanks> 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% ey i | ces: ene ama 1 i — Capital value index Munster 200 ——Residental rents index Vi ——Ca
Slide 12: FY 2022 — highest operating profit in history
FY 2022 — highest operating profit in history Funds from Adjusted Operations EBITD. €19.2m €59.35m Result after LTV taxes (pro forma)? €-15.0m e52% In +2.4% y-o-y 1st ESG Risk Tenant Rating satisfaction’ Equity ratio EPRA NTA/sh Reporting first ro forma)3 5 time in € as (p ) (pro forma) opposed to C
Slide 13: Peach adapts to the new environment
Peach adapts to the new environment vA ll Strong [-f-| growth of all aarti anict High demand for affordable housing and rosie vent growth lack of new supply will keep up rent growth. Review of cost structure Implementation of cost saving measures which should lead to a launch of cost savings margin
Slide 14: Agenda
Agenda 1. Peach Property & the German real estate market 2.Business Performance FY 2022 3. Financial Performance FY 2022 4. ESG Update 5. Guidance & mid-term financial targets 6. Appendix * — Portfolio details ° ESG * — Share data & financial calendar 14
Slide 15: Overview investment properties
& Overview investment properties Number of residential units Actual rental income (€m) Market value (€m)2 Gross rental yield FY 2021 27 441 FY 20211 100.4 FY 20211 2541.4 FY 2021 4.8% FY 2022 27549 FY 2022 116.5 FY 2022 2602.8 FY 2022 45% Residential floor space in sqm Target rental income (€m) Vaca
Slide 16: Strong rental growth with further potential
& Strong rental growth with further potential Figures in € / sqm Sources of rental growth target a l 1! i potential @in-place rent @ market New letting @ in-place rent @ market rent 3.0: Dec 31, 2021' rent 20222 rents 2022 Dec 31, 20224 Dec 31, 20223 7.04 ~50% min 3.5% LL growth ~20% target ~30% Flu
Slide 17: Lower vacancy driven by strong demand
& Lower vacancy driven by strong demand Development of vacant residential units and vacancy ratio 2190 Vacant residential units by vacancy category 2019 2020 2021 2022 New lettings (approx. 3 700 new contracts concluded) at record level in 2022 with noticeable impact on vacancy rate. ©peach 1899 -28
Slide 18: Capex development
@& Capex development €22.5m €41.6m €57.6m FY 2020 FY 2021 FY 2022 ©peach Record number of 2 160 units renovated in 2022. Of which around 110 rental units underwent substantial energy-related renovations such as replacing windows or thermal insulation. In addition, approx. 40 heating systems for arou
Slide 19: Portfolio value stable year-on-year
Portfolio value stable year-on-year Valuation result 2022 Key valuation indicators = Operational progress & discount rate 1 Initial valuation € 1450 (Fy 2021: € 1424) = Total revaluation gain as % of investment properties €-12.2m (- 20.2x (FY 2021: 20.7x) €1.6m (0.1%) 4.95% (FY 2021: 4.83%) €-13.8m
Slide 20: Remaining development project in CH - Peninsula Wadenswil
& Remaining development project in CH - «Peninsula Wadenswil» at Lake of Zurich Construction start & Construction in 2023 & 2024 groundbreaking ceremony in H2 2022 handover of condominiums 2024/2025 planned 57 condominiums 60% of units notarized or in 5 buildings reserved Total sales volume Single-d
Slide 21: Agenda
Agenda 1. Peach Property & the German real estate market 2. Business Performance FY 2022 3.Financial Performance FY 2022 4. ESG Update 5. Guidance & mid-term financial targets 6. Appendix * — Portfolio details ° ESG * — Share data & financial calendar
Slide 22: Financial performance in FY 2022
Financial performance in FY 2022 Net rental income (€m) FFO I (€m) Adjusted EBITDA (€m) Operating Income (€m) FY 2021! 100.4 FY 2021! 10.2 FY 2021! 52.0 FY 2021" 367.8 c © S FY 2022 116.5 FY 2022 19.2 FY 2022 59.3 FY 2022 159.4 Result after tax (€m) Equity ratio (IFRS) EPRA NTA (€/share) Loan-to-val
Slide 23: Debt structure as of December 31, 2022
<< Debt structure as of December 31, 2022 Maturity profile! 700 Fully repaid by proceeds from MCB 588 600 in January 2023. 3 500 s = 400 gum © 390 291 : ‘oo (96) n | ia 93 os aS 87 3 60% o = a es = 2023, 2024 2025 2026 2027 2028 2029 > 2030 cml po neeeeeneeneeee eee incl. hedges 1 June '23: call-dat
Slide 24: Launch of Convertible Bond & Exchange Offer to refinance Hybrid Bond
2 Launch of Convertible Bond & Exchange Offer to refinance Hybrid Bond | © Key Terms of new Convertible Bond Peach Property Group AG * — Proceeds earmarked to refinance outstanding Hybrid Bond with first call date on June 22, 2023. Up to CHF 50 000 000 * Exchange offer for all investors in the Hybri
Slide 25: Opex development
<< Opex development =m Maintenance/sqm =) Admin/sqm =Total Opex + Higher maintenance costs driven by higher number of tenant tickets (legacy from acquisitions in 2020 and 2021) and higher material and 3" party services costs. + Reduction of administration costs reflects normalized level following in
Slide 26: Our cost structure under review
<< Our cost structure under review Operational cost structure FY 2022 Target to be achieved by FY 2025 + Scrutinize costs and expenses incurred in case of tenant turnover. * Review contracts with service providers + Improve processes and efficiency. + Reduce operating cost base by annualized €2-3 mi
Slide 27: Agenda
Agenda 1. Peach Property & the German real estate market 2. Business Performance FY 2022 3. Financial Performance FY 2022 4. ESG Update 5. Guidance & mid-term financial targets 6. Appendix * — Portfolio details ° ESG * — Share data & financial calendar
Slide 28: Sustainability is central to our actions
gi Sustainability is central to our actions » Economic Py performance > Risk management >» Reduction of emissions and energy consumption > Responsible handling of water, effluents and waste Business Performance Sustainabilty in practice Governance > Well-being of our tenants > Affordable and sustain
Slide 29: Work on decarbonization path continued
=i Work on decarbonization path continued Carbon intensity in kg COze/m?a (Scope 1 and 2) 40 * Further improved the quality of our decarbonization \ database, a Mlustrative representation ae * Inclusion of consumption data for rental units Q acquired in 2021 for the first time. 30 * Starting point o
Slide 30: Tenant satisfaction as a leading priority
= Tenant satisfaction as a leading priority KPls Property Management ticketing system Periode YY 01.01.2022 — 31.12.2022 Created Tickets «One touch» rate 112 922 @ 90.1% @ @.., resolution Peach Points only Full resolution incl. system partners 18.1 hours ® 68.4 hours @ @ Satisfaction ratio of ticket
Slide 31: Our ESG Awards
= Our ESG Awards 2022 ESG Risk Rating ACWNISHR SUSTAINALYTICS —e + First active participation in rating process. TOP RATED + In 4" percentile of global rating universe (> 1 500 companies). 2022 ESG Rating MSCI 6 * Upgrade to «A» from «BBB», 2022 Award for ESG reporting + First award for Peach Sustai
Slide 32: Agenda
Agenda 1. Peach Property & the German real estate market 2. Business Performance FY 2022 3. Financial Performance FY 2022 4. ESG Update 5. Guidance & mid-term financial targets 6. Appendix * — Portfolio details ° ESG * — Share data & financial calendar 32
Slide 33: Guidance & mid-term financial targets
i“ Guidance & mid-term financial targets Guidance FY 2023 Financial targets for the period until 2025 Net Rental Income €121 - 123m (-f-L rental growth L-f-l rental growth ~4% Adj. EBITDA Margin +500bps vs. FY 2022! FFOI €21- 23m FFO | growth LTV Dividend Policy 50% of FFO | subject to conditions of
Slide 34: Key takeaways
Key takeaways Operationally and financially sound business with attractive growth prospects... ... trades at a historic high discount to EPRA NTA! 10% @ Scarce product with high & increasing demand oe Demand for affordable housing will continue to rise against a backdrop of . a growing population, h
Slide 35: Agenda
Agenda 1. Peach Property & the German real estate market 2. Business Performance FY 2022 3. Financial Performance FY 2022 4. ESG Update 5. Guidance & mid-term financial targets 6. Appendix * — Portfolio details ° ESG * — Share data & financial calendar
Slide 37: € 1 8 12 20 13 11 14 5 15 16 1 17 16
19 6 € 10 1 17 2 3 13 4 4 5 2 6 12 7 18 3 8 7 14 9 15 10 7 11 8 12 20 13 11 14 5 15 16 1 17 16 18 19 20 9
Slide 38: Peninsula Wadenswil - Cost completed accounting
«Pensinsula Wadenswil» - “Cost completed” accounting! Expected project timeline H1 2022 H2 2022 FY 2022 2023 FY 2023 FY 2024 2025 ® Planned handoverfof condominiums. Notarizations of purchase agreements Start of deconstruction work Construction Accounting treatment 3 10-155 Es Construction progress
Slide 40: Energy KPIs of Peach Portfolio
= Energy KPIs of Peach Portfolio Distribution of energy efficiency classes Source of heat energy & supply ™Gas m District Heating =Power =Oil mcentral m decentralized German CO, levy Share tenant = Landlord 0% 9 9 mney 100% 90% 80% a i a Z : i: / 70% 60% 5 1 50% 4 40% 7 . Bee wig: = » 5% <12kg 12-17
Slide 41: Peach's decarbonization tool
= Peach's decarbonization tool For illustration purposes only 1 pec ° e Szenario vomit <2 ezl « wd decarbRE 2021 fabian ei ~ A AC Boeka Flachen ee ip2 Em == Flachen ort WEIGE spez COZ D vere 1 Bkkgins Bocum | 18 224 apna Gesamt 580-23. 4a/0 Primarenergiefaktor 1,22 Primarenergie ‘Auswahi 154,5 3,7 T
Slide 43: Capital market development
<< Capital market development Credit ratings (Corporate Rating) Recent capital market transactions Jan 2023 Mandatory convertible bond 5% CHF 112.3million; conversion price CHF 30.00 sstablo Buybacks & par call to repay EUR 250 million EuroBond 2023, ‘aes aca “megatve? EUR 100 million revolving cred
Slide 44: Share data
<< Share data Significant shareholders! as of Dec 31, 2022 Information on the share 26.78% Dec 31, 2022 Dec 31, 2021 Share capital in CHF 16 882 373 Number of shares issued 16 882 373 47.36% Nominal value per share in CHF 1.00 Number of treasury shares T7AL 758% Number of outstanding shares 16 874 6
Slide 46: Financial calendar
Financial calendar Scheduled publications & events Upcoming road shows & participation in conferences! 24 May 2023 AGM 2023, Zurich 25 May 2023 Kempen European Property Seminar (Amsterdam) 23 August 2023 HY results 2023 12 September 2023 SRC Forum Financials & Real Estate (Frankfurt) 18 September 20
Slide 47: Disclaimer
Disclaimer These materials contain forward-looking statements based on the currently held beliefs and assumptions of the management of Peach Property Group AG (hereinafter also referred to as «PPG» or «Peach Property»), which are expressed in good faith and, in their opinion, reasonable. Forward-loo
Slide 48: Investors, Analysts and Media
Investors, Analysts and Media Stefan Feller, Head of Investor Relations Dr. Thomas Wolfensberger, Chief Executive Officer Thorsten Arsan, Chief Financial Officer +41 44 485 50 18 investors@peachproperty.com

Peach Property Group — Investor Presentation (April 2023) on 6ix

Peach Property — Investor Presentation (April 2023)

Slide 1: Company Presentation April 2023

Slide 2: Agenda

Slide 3: Peach Property Group at a glance

Slide 4: Portfolio structure as of December 31, 2022

Slide 5: Portfolio fully focused on residential space

Slide 6: Typical properties in Peach's portfolio

Slide 7: Peach Points — our regional tenant shops

Slide 8: Overview German real estate market

Slide 9: The environment in 2022

Slide 10: Structural undersupply of housing in Germany is increasingly evident

Slide 11: Inflation and scarcity drive market rents

Slide 12: FY 2022 — highest operating profit in history

Slide 13: Peach adapts to the new environment

Slide 14: Agenda

Slide 15: Overview investment properties

Slide 16: Strong rental growth with further potential

Slide 17: Lower vacancy driven by strong demand

Slide 18: Capex development

Slide 19: Portfolio value stable year-on-year

Slide 20: Remaining development project in CH - Peninsula Wadenswil

Slide 21: Agenda

Slide 22: Financial performance in FY 2022

Slide 23: Debt structure as of December 31, 2022

Slide 24: Launch of Convertible Bond & Exchange Offer to refinance Hybrid Bond

Slide 25: Opex development

Slide 26: Our cost structure under review

Slide 27: Agenda

Slide 28: Sustainability is central to our actions

Slide 29: Work on decarbonization path continued

Slide 30: Tenant satisfaction as a leading priority

Slide 31: Our ESG Awards

Slide 32: Agenda

Slide 33: Guidance & mid-term financial targets

Slide 34: Key takeaways

Slide 35: Agenda

Slide 36: Appendix: Portfolio details

Slide 37: € 1 8 12 20 13 11 14 5 15 16 1 17 16

Slide 38: Peninsula Wadenswil - Cost completed accounting

Slide 39: Appendix

Slide 40: Energy KPIs of Peach Portfolio

Slide 41: Peach's decarbonization tool

Slide 42: Appendix: Share data

Slide 43: Capital market development

Slide 44: Share data

Slide 45: Appendix: Financial calendar

Slide 46: Financial calendar

Slide 47: Disclaimer

Slide 48: Investors, Analysts and Media