Slide 1: Annual results 2022
Annual results 2022 Brussels, 16 February 2023 -1-
Slide 2: Table of content
Table of content 3 Highlights FY 2022 7 Strategy 15 Achievements 17 Portfolio analysis 51 Financials 68 Shares & shareholders 77 Outlook 80 Conclusion -2-
Slide 3: Highlights FY 2022
Highlights FY 2022 Militza Brugge Brugge – Belgium -3-
Slide 4: Highlights FY 2022
Highlights FY 2022 €181.4 million 8 €671 million 43.6% +20% YoY countries committed debt-to-assets EPRA earnings investment programme ratio construction & renovation €273.1 million 622 40 €310 million +18% YoY, +4.2% LfL healthcare sites projects completed raised on capital markets rental income (ap
Slide 5: Investment activity
Investment activity New acquisitions & pipeline completions1 €23 million €283 million €97 million 57 healthcare sites €24 million (~ €803 million) acquired or announced €265 million during 2022 (see map) €8 million €90 million 40 projects (~ €295 million) completed during 2022 1 See 2022 annual pres
Slide 6: Portfolio outlook: €6.1 billion
Portfolio outlook Total portfolio outlook: €6.1 billion €m 6,500 +671 +18 6,124 6,000 5,519 -84 5,500 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 Marketable investment Assets classified Committed investment Investments after Portfolio outlook properties 1 as held for sale programme 3
Slide 7: Strategy
Strategy Koy Oulun Valjastie (Hintta) Oulu – Finland -7-
Slide 8: Aedifica at a glance
Aedifica at a glance Pure-play Market reference Belgian REIT Long term stable healthcare in European listed (RREC/SIR/GVV) cash flows healthcare real estate €5.7 billion Growth potential ~ €3.2 billion Inflation-linked marketable investment driven by demographic market cap contracts properties evolu
Slide 9: Exploring European markets
Exploring European markets Track record of entering new markets & rapidly creating a platform for future growth 2013 – 2016 – 2019 – 2020 – 2021 – Ireland Germany Netherlands United Finland & 1st investment in Feb 2021: €25m Current portfolio: €289 (18 assets) 1st investment in 1st investment in Kin
Slide 10: Demographic evolution
Demographic evolution Ageing in Belgium Ageing in Germany 40% 40% 35% 35% 30% 30% 65 + 65 + 25% 25% 70 + 70 + 20% 20% 75 + 75 + 15% 15% 80 + 80 + 10% 85 + 10% 85 + 5% 5% 0% 0% 2020 2030 2040 2050 2060 2070 2080 2020 2030 2040 2050 2060 2070 2080 Source: Eurostat, 2021 Source: Eurostat, 2021 Ageing i
Slide 11: Demographic evolution
Demographic evolution Ageing in Finland Ageing in Sweden 40% 40% 35% 35% 30% 30% 65 + 65 + 25% 25% 70 + 70 + 20% 20% 75 + 75 + 15% 15% 80 + 80 + 10% 85 + 10% 85 + 5% 5% 0% 0% 2020 2030 2040 2050 2060 2070 2080 2020 2030 2040 2050 2060 2070 2080 Source: Eurostat, 2021 Source: Eurostat, 2021 Ageing in
Slide 12: Sustainability
Sustainability Improvement of Charter for Responsible Suppliers sustainability scores relations promoting good ethics & strong commitments Award and CSR to corporate social responsibility business 2022 2021 2020 2019 2018 Benchmarks practices Silver + Most EPRA sBPR Gold Gold Gold - Improved GRESB 6
Slide 13: Sustainability
Sustainability Strategy • Commitment to the Paris Agreement to achieve net zero GHG emissions for our entire portfolio by 2050: focus on lifecycle assessment of our properties • Green lease annex introduced in 2022 to facilitate cooperation with operators in reducing the portfolio’s carbon footprint
Slide 14: Sustainability
Sustainability CRREM Research project ‘Carbon Risk Real Estate Monitor’ framework Translates long-term policies (COP21 Paris Agreement) into science based targets that are global warming scenarios, country and building type specific Proposes a framework for assessing building specific carbon risks -
Slide 15: Achievements
Achievements LLT Almere Buiten Almere – Netherlands -15-
Slide 16: Achievements: investment properties evolution
Achievements Investment properties1 evolution & focus on Europe EVOLUTION SINCE 2006 GEOGRAPHICAL BREAKDOWN (FAIR VALUE)2 €m CAGR: 23% 6,500 (as of 31 December 2022) 6,214 100% 1 5 5 8 6,000 5,704 5 2 9 12 13 15 1 1 5,500 12 18 2 4,896 14 18 18 5,000 18 80% 17 4,500 23 14 4,000 3,815 12 12 11 3,500
Slide 17: Portfolio analysis
Portfolio analysis Seniorenhaus Lessingstrasse Würzen - Germany -17-
Slide 18: Healthcare real estate portfolio: segment breakdown
Healthcare real estate portfolio Healthcare segment breakdown FOCUS ON CARE FACILITIES FOR ELDERLY PEOPLE 7% 6% 16% Elderly care homes Senior housing 4% 67% Mixed-use elderly care buildings Child day-care centres Other care segments Marketable investment properties incl. assets classified as held fo
Slide 19: Healthcare real estate portfolio: geographical breakdown
Healthcare real estate portfolio Geographical breakdown DIVERSIFICATION ACROSS EUROPEAN COUNTRIES 1% >0% 5% Belgium 24% Belgium Germany 18% Germany Netherlands Netherlands United Kingdom United Kingdom Finland Finland Sweden Sweden 18% 22% Ireland Ireland Spain Spain 12% Marketable investment proper
Slide 20: Belgian healthcare portfolio
Belgian healthcare portfolio PORTFOLIO OF 85 ASSETS €1,299 m ~8,800 5.5% 20 years portfolio residents yield on WAULT fair value fair value 9 17 ~€1,364 m Inflation- projects tenant portfolio outlook linked to be groups as of triple net long completed 16 February 2023 leases -20-
Slide 21: Belgian healthcare portfolio
Belgian healthcare portfolio Marketable investment properties Projects in the investment programme -21-
Slide 22: Belgian healthcare portfolio
Belgian healthcare portfolio Klein Veldekens, Résidence Véronique, Geel – 132 units Somme-Leuze – 131 units Hof Van Schoten, Schoten – 101 units Militza Brugge, Bruges – 120 units -22-
Slide 23: German healthcare portfolio
German healthcare portfolio PORTFOLIO OF 103 ASSETS €1,198 m ~10,500 5.1% 22 years portfolio residents yield on WAULT fair value fair value 17 23 ~€1,336 m Inflation- projects tenant portfolio outlook linked to be groups as of double net long completed 16 February 2023 leases with various indexation
Slide 24: German healthcare portfolio
German healthcare portfolio Marketable investment properties Projects in the investment programme -24-
Slide 25: German healthcare portfolio
German healthcare portfolio Seniorenquartier Weyhe, Seniorenzentrum Alte Zwirnerei, Weyhe - 109 units Gersdorf - 104 units Seniorenhaus Lessingstrasse, Wurzen - 73 units Seniorenquartier Bremen, Bremen – 109 units -25-
Slide 26: Dutch healthcare portfolio
Dutch healthcare portfolio PORTFOLIO OF 75 ASSETS €640 m ~3,300 5.6% 17 years portfolio residents yield on WAULT fair value fair value 7 24 ~€677 m Inflation- projects tenant portfolio outlook linked to be groups as of mostly triple net completed 16 February 2023 long leases Strategic partnership wi
Slide 27: Dutch healthcare portfolio
Dutch healthcare portfolio Marketable investment properties Projects in the investment programme -27-
Slide 28: Dutch healthcare portfolio
Dutch healthcare portfolio Villa Florian, Blaricum - 29 units Nieuw Heerenhage, Heerenveen - 126 units Pachterserf, Apeldoorn - 48 units Het Gouden Hart Soest, Soest - 36 units -28-
Slide 29: UK & Channel Islands healthcare portfolio
UK & Channel Islands healthcare portfolio PORTFOLIO OF 114 ASSETS €960 m ~7,300 6.4% 22 years portfolio residents yield on WAULT fair value fair value 14 16 ~€1,090 m Inflation- projects tenant portfolio outlook linked to be groups as of triple net long completed 16 February 2023 leases with general
Slide 30: UK & Channel Islands healthcare portfolio
UK & Channel Islands healthcare portfolio Marketable investment properties Projects in the investment programme -30-
Slide 31: UK & Channel Islands healthcare portfolio
UK & Channel Islands healthcare portfolio Shipley Canal Works, Abbot Care Home, Shipley - 66 units Harlow - 117 units Le petit Bosquet, Jersey - 43 units Creggan Bahn Court, Ayr - 58 units -31-
Slide 32: Finnish healthcare portfolio
Finnish healthcare portfolio PORTFOLIO OF 203 ASSETS €985 m ~14,500 5.3% 12 years portfolio residents & yield on WAULT fair value children fair value 14 49 ~€1,080 m Inflation- projects tenant portfolio outlook linked to be groups as of double net long completed 16 February 2023 leases Yield on 15%
Slide 33: Finnish healthcare portfolio
Finnish healthcare portfolio Marketable investment properties Projects in the investment programme -33-
Slide 34: Finnish healthcare portfolio
Finnish healthcare portfolio Koy Kuopion Männistönkatu PK, Tampere Sisunaukio, Kuopio - 168 units Tampere - 130 units Koy Espoon Matinkartanontie, Espoo - 537 units Liminka Saunarannantie, Liminka - 99 units -34-
Slide 35: Swedish healthcare portfolio
Swedish healthcare portfolio PORTFOLIO OF 23 ASSETS €77 m ~750 5.0% 12 years portfolio residents & yield on WAULT fair value children fair value 6 13 ~€106 m Inflation- projects tenant portfolio outlook linked to be groups as of double net long completed 16 February 2023 leases Yield on Experienced
Slide 36: Swedish healthcare portfolio
Swedish healthcare portfolio Marketable investment properties Projects in the investment program -36-
Slide 37: Swedish healthcare portfolio
Swedish healthcare portfolio Bälinge Lövsta 9:19, Almungeberg 1:21, Uppsala - 12 units Uppsala - 6 units Förskola Kallinge, Ronneby - 120 units Sunnersta 120:2 & 120:4, Uppsala - 6 units -37-
Slide 38: Irish healthcare portfolio
Irish healthcare portfolio PORTFOLIO OF 18 ASSETS €289 m ~1,900 5.3% 24 years portfolio residents yield on WAULT fair value fair value 10 4 ~€453 m Inflation- projects tenant portfolio outlook linked to be groups as of triple net long completed 13 February 2023 leases -38-
Slide 39: Irish healthcare portfolio
Irish healthcare portfolio Marketable investment properties Projects in the investment program -39-
Slide 40: Irish healthcare portfolio
Irish healthcare portfolio Dublin Stepaside, Beaumont Lodge, Stepaside - 119 units Dublin - 221 units Waterford care home, Waterford - 64 units Northwood Nursing Home, Dublin - 121 units -40-
Slide 41: Spanish healthcare portfolio
Spanish healthcare portfolio PARTNERSHIP WITH SPANISH OPERATOR €75 m 160 5.5% 30 years initial portfolio residents yield on WAULT ambition fair value Up to 5 1 ~€16 m Inflation- projects tenant portfolio outlook linked expected within group as of triple net long framework with 16 February 2023 lease
Slide 42: Healthcare real estate tenants
Healthcare real estate tenants Tenant diversification1 10% 6% 622 sites with approx. 280 tenants (or >150 5% ‘groups’) representing European, national and 5% 52% local profit and not-for- 4% profit operators 4% No ‘operator group’ 4% leases more than 11% of 3% Aedifica’s consolidated 3% 3% assets 1
Slide 43: Healthcare real estate tenants
Healthcare real estate tenants Tenant diversification1 3% 6% Profit Predominantly private Non-profit operators Growing public and Public non-profit segments among tenants 91% 1 Based on the contractual rents. -43-
Slide 44: Elderly care sector regulations
Elderly care sector regulations BELGIUM GERMANY NETHERLANDS UK Regional Local municipality National National (Heimaufsicht) & Medical service of New home Risk- & event-based Opening of a new statutory care insurers supervision/ event inspections home, then frequency (MDK) based / periodic of follow
Slide 45: Elderly care sector regulations
Elderly care sector regulations FINLAND SWEDEN IRELAND SPAIN National & National National Regional Regional (for early childhood education & care) Opening of new home Opening of a new Opening of new home Opening of new home / / periodic / event home / annual / event based / periodic / event based ba
Slide 46: Lease maturity & occupancy rate
Lease maturity & occupancy rate UNEXPIRED LEASE TERM WAULT BY COUNTRY 1% (Years) 25 8% 24 Avg < 5 years 19 years 20 22 18% 22 5 to 10 years 20 15 17 10 to 15 years 12 12 73% 10 ≥ 15 years 5 0 19 years Weighted average unexpired 100 % Belgium Germany Netherlands United Kingdom Finland Sweden Ireland
Slide 47: Age of buildings
Age of buildings >60% OF THE PORTFOLIO IS LESS THAN 15 YEARS OLD 10% 24% 0-5 years 6-10 years 11-15 years 36% > 15 years Project 19% Age profile based on a weighted average of the gross square footage of our properties using completion date of a construction or renovation phase done 11% on site. -47
Slide 48: Committed development projects
Committed development projects Pipeline: €671 million GEOGRAPHICAL SPLIT EXPECTED DELIVERY DATE €14m 2% 10% 11% Belgium €73m €65m 25% Germany 2023 €164m 2% 21% Netherlands €138m United Kingdom 48% 12% 2024 Belgium €320m 2% 4%19% Germany Finland 41% €29m 5% Sweden €278m Netherlands >2025 3% 12% €37m
Slide 49: Resilience in portfolio valuation
Resilience in portfolio valuation GROSS YIELDS ON FAIR VALUE Like for like portfolio valuation Conservative valuation yields 7 (%) 6 6.4 Avg 5.5 Country Change in FV Change in FV LFL - FY LFL - Q4 5.6 5 5.5 5.3 5.3 5.1 5.0 Belgium 2.6% -0.3% 4 Germany 4.4% -0.5% Netherlands 4.5% -2.0% 3 United Kingd
Slide 50: Portfolio growth: development projects
Portfolio growth Development projects Seniorenquartier Langwedel – Langwedel (DE) Q4 2021 – Q4 2022 (est.) Turku Herttuankulma – Turku (FI) Q1 2021 – Q4 2022 (est.) Sligo Finisklin Road – Sligo (IE) Q4 2022 - Q2 2024 (est.) Strängnäs Bivägen – Strängnäs (SE) Expected completion: Q1 2023 -50-
Slide 51: Financials
Financials Loughshinny Nursing Home Dublin - Ireland -51-
Slide 52: Income Statement: EPRA Earnings
Income Statement EPRA Earnings EPRA EARNINGS YOY INCREASE OF 20% Consolidated income statement - analytical format 31/12/2022 31/12/2021 (x €1,000) Rental income 273,132 232,118 Rental-related charges -1,589 -686 Net rental income 271,543 231,432 Operating charges* -41,869 -38,105 Operating result b
Slide 53: Income Statement: Net result
Income Statement Net result EARNINGS PER SHARE Consolidated income statement - analytical format 31/12/2022 31/12/2021 (x €1,000) EPRA Earnings* 181,386 151,479 Changes in fair value of financial assets and liabilities 123,242 14,813 Changes in fair value of investment properties 84,877 160,211 Gain
Slide 54: Rental income
Rental income (€ m) 320 +25.8 +0.3 +273.1 270 8.1 +0.3 11.2 232.2 220 -4.7 170 18% 120 increase YoY 70 20 Rental Indexation Rent Disposals Deliveries Acquisitions FX impact Rental income renegotiation income FY 2021 FY 2022 -54-
Slide 55: Rental income
Rental income (€ m) 320 +2.0 +6.7 0.0 273.1 +7.6 +4.9 270 +11.8 +3.1 232.2 +4.9 220 170 120 18% increase YoY 70 20 Rental Belgium Germany Netherlands United Finland Sweden Ireland Spain Rental income Kingdom income FY FY 2021 2022 3.3% rent indexation Change: +7.8% +26.2% +10.3% +15.1% +12.4% +100.1
Slide 56: EPRA Earnings
EPRA Earnings (€ m) 250 200 +41.0 181.4 -4.7 -4.1 -2.3 +0.0 -0.1 151.5 150 100 20% increase YoY 50 EPRA Rental Operating Financial Tax EPRA Non- EPRA Earnings FY income costs result earnings of controlling Earnings FY 2021 associates interests 2022 -56-
Slide 57: Consolidated balance sheet (€ m)
Consolidated balance sheet (€ m) Balance sheet total: €6.1 billion 3,289 2,785 5,704 5,704 2,785 Investment properties 4,896 2,6 4,896 Equity (incl. assets classified as 58 held for sale) 2,1 2,173 Other assets included 2,602 Liabilities included 73 2,197 in debt ratio in the debt ratio Other assets
Slide 58: Debt-to-assets ratio
Debt-to-assets ratio Financial policy: debt-to-assets ratio <50% 56% 56% 50% 50% with a target around 45% 44% 43% 42% 43% 44% 41% 41% 37% Investment capacity*: approx. €759 million before reaching 50% DTA June June March June March June Oct Dec June Dec June Dec Bank covenants stand at a maximum of
Slide 59: Debt-to-assets ratio
Debt-to-assets ratio €67m €100m €153m €219m €418m €207m €459m €286m €254m rights issue rights issue rights issue rights issue rights issue ABB rights issue ABB ABB Oct 2010 Dec 2012 June 2015 Mar 2017 May 2019 Apr 2020 Oct 2020 Jun 2021 Jun 2022 60% 6,000 50% 5,000 40% 4,000 Over the past 12 years,
Slide 60: Credit facilities: Total financial debt
Credit facilities Total financial debt: €2,457 m Credit rating BBB with stable outlook from S&P 4% Investment credits 11% Investment credits Global 13% 5% 4% Term loans Term loans 57% bank ICR 7.5x 4% facilities Revolving Revolving loans loans Debt/ EBITDA 11x 33% 36% 20% USPP GBP 34% sustainable US
Slide 61: Credit facilities: new & refinanced
Credit facilities Overview new & refinanced credit facilities YTD ~ €520m €396m new, long term credit facilities ➢ £160m new credit facilities 59% (€304m) of these contracted ➢ €100m new & sustainability linked credit facilities bank loans are sustainability linked €120m early refinancing Average cr
Slide 62: Credit facilities: liquidity and debt maturity
Credit facilities LIQUIDITY DEBT MATURITY PROFILE (in € million) Financial debt Lines Utilisation of which 900 Weighted average (in € million)1 treasury notes 800 700 debt maturity 31/12/2023 31/12/2024 578 425 423 265 263 - 600 (excl. CP): 4.7 yrs 500 31/12/2025 531 170 - 400 31/12/2026 390 237 - 3
Slide 63: Credit facilities: interest rate hedging
Credit facilities Interest rate hedging1 100% 11% 13% 14% 90% 21% 12% 4% 80% 12% 70% 60% 89% of debt hedged 48% 42% 41% 46% by derivatives or 50% fixed rate debt 40% at the beginning of 2023² 30% 20% 34% 34% 34% 34% Hedging weighted 10% average maturity : 6.6 years 0% 03/01/2023 31/12/2023 31/12/202
Slide 64: Net asset value
Net asset value DISCOUNT ON 15 February 2023 1% vs NAV at FV excl. IAS 39 4% vs NAV at FV incl. IAS 39 1% vs EPRA NTA Net asset value per share (in €) 31/12/2022 31/12/2021 Net asset value after deduction of dividend 2021, excl. changes 79.83 74.09 in fair value of hedging instruments* Effect of the
Slide 65: EPRA NTA
1 EPRA NTA (€/share) 90 2.34 4.76 79.71 80 76.05 -3.26 -0.17 70 60 50 40 30 5% 20 increase YTD 10 0 EPRA NTA EPRA result Property value Dividend Other EPRA NTA 31/12/2021 increases 31/12/2022 1 Based on number of shares outstanding (excl. treasury shares) -65-
Slide 66: Dividend policy
Dividend policy €3.70 / share (gross) DPS guidance for 2022 + 9% compared to 2021 Withholding tax: − General rule: 30% − Reduced to 15% as healthcare REITs investing more than 80% of its portfolio in residential European healthcare real estate -66-
Slide 67: EPRA metrics
EPRA EPRA METRICS Aedifica is included Key performance indicators according to the EPRA principles in the EPRA indices 31/12/2022 31/12/2021 EPRA Earnings* (in €/share) 4,76 4,35 EPRA Cost Ratio (including direct vacancy costs)* (in %) 15,9% 16,7% EPRA Cost Ratio (excluding direct vacancy costs)* (i
Slide 68: Shares & shareholders
Shares & shareholders Koy Espoon Matinkartanontie Espoo – Finland -68-
Slide 69: Share price since IPO
Share price since IPO Spot Var. (%) 400 Aedifica 79.95 143 375 350 BEL20 3,887.49 0 325 EPRA Belgium 1,494.29 6 300 275 EPRA Europe 1,679.86 -37 250 225 200 175 150 125 100 75 50 Aedifica: based on the IPO price (€41), adjusted to take into 25 account the rights issues of 2010 (- €1.89), 2012 (- €1.
Slide 70: Total return since IPO
Total return since IPO 750 725 700 Return Var. (%) 675 Aedifica 152 363 650 625 600 EPRA Belgium 5,575 158 575 550 525 500 EPRA Europe 4,029 18 475 450 425 400 375 350 325 300 275 250 225 200 175 150 125 100 75 50 25 Aedifica: based on the IPO price (€41), adjusted to take into account the rights is
Slide 71: Euronext
Euronext Inclusion in the BEL20 & BEL ESG In 2020, Aedifica entered the BEL20, the leading share index of Euronext Brussels. The BEL 20 index comprises Belgian companies listed on Euronext Brussels that record the largest free-float market capitalisation, of which the share is sufficiently liquid an
Slide 72: Shareholding
Shareholding1 INTERNATIONAL & DIVERSIFIED SHAREHOLDERS BASE1 5% Belgium 11% US 1% UK 1% 1% Netherlands 2% 39% France One shareholder 2% Luxemburg holding more than 5% of 4% Ireland the company’s capital 2 Sweden 5% Japan ~1/3 retail shareholders 6% Germany 2/3 institutional Switzerland shareholders
Slide 73: Award
Award EPRA EPRA REPORTING: BEST PRACTICES RECOMMENDATIONS (BPR) From 2015 to 2022, Aedifica’s annual financial report was awarded 8 consecutive times the ‘EPRA BPR Gold Award’ From 2020 to 2022, Aedifica received the ‘EPRA sBPR Gold Award‘ for the Sustainability Reports -73-
Slide 74: Corporate governance
Corporate governance TRANSPARENCY BOARD OF DIRECTORS • NV/SA • 12 Directors • 7 independent non-executive Directors • Management in the box • 5 executive Directors • 100% free float • Gender diversity ratio: 42% • No poison pills • International • Audit & Risk Committee • Nomination & Remuneration C
Slide 75: Aedifica's Executive Committee
Aedifica’s Executive Committee Sven Bogaerts Chief Mergers & Charles-Antoine van Aelst Acquisitions Officer Chief Investment Officer Raoul Thomassen Stefaan Gielens Ingrid Daerden Chief Operating Officer Chief Executive Officer Chief Financial Officer -75-
Slide 76: Organisation & team
Organisation & team INTERNATIONAL TEAM 10 4 Local teams in 6 countries Belgium 7 managing the portfolio Finland and the group’s growth 6 Germany Netherlands International staff of 67 Sweden 121 people of which 27 UK 45 women and 76 men Number of employees per country -76-
Slide 77: Outlook
Outlook Priesty Fields Care Home Congleton – United Kingdom -77-
Slide 78: Outlook FY 2023
Outlook FY 2023 €308 million €320 million Assuming FBI-tax regime in the Dutch subsidiaries in 2023 and refund of rental income pipeline deliveries in 2023 approx. €6 m for previous years (+ 13% vs. 2022) € 200 million ~ €150 million ~ €350 million EPRA Earnings asset rotation cash out during 2023 r
Slide 79: Outlook: objective for future growth
Outlook OBJECTIVE FOR FUTURE GROWTH : EPS GROWTH while maintaining a solid debt-to-asset ratio € / share 7,0 • Strong fundamental tailwinds 6,5 6,0 remain intact 5,5 5,0 4,76 5,03** • Enhancing long-term cash flows 4,35 4,5 4,0 3,74 4,23 3,70 3,80 in healthcare real estate 3,25 3,40 3,5 3,0 2,43 3,1
Slide 80: Conclusion
Conclusion Koy Oulun Siilotie Oulu - Finland -80-
Slide 81: Investment highlights
Investment highlights Attractiveness for shareholders PURE-PLAY FAIR VALUE HISTORY HEALTHCARE REIT IN EUROPE OF PORTFOLIO SHOWING RESILIENCE 19 YEARS WEIGHTED AVERAGE LEASE STRONG UNDERLYING TERM DEMOGRAPHIC TRENDS SOLID TRACK RECORD IN INVESTMENT, EQUITY AND DEBT-FINANCING LONG-TERM GROWTH STRONG D
Slide 82: Thank you
Thank you INVESTOR RELATIONS ir@aedifica.eu Rue Belliard/Belliardstraat 40 bte 11 1040 Brussels, Belgium -82-
Slide 83: Stefaan Gielens - CEO, Ingrid Daerden - CFO
Stefaan Gielens - Chief Executive Officer Ingrid Daerden - Chief Financial Officer -83-
Slide 84: Aedifica SA/NV
Aedifica SA/NV Public REIT under Belgian Law Regulated Real Estate Company (RREC) Société immobilière réglementée (SIR) Gereglementeerde vastgoedvennootschap (GVV) Rue Belliard 40 / Belliardstraat 40 (box 11) 1040 Brussels Tel: +32 (0)2 626 07 70 - Fax: +32 (0)2 626 07 71 info@aedifica.eu - www.aedi
Slide 85: Forward-looking statement
Forward-looking statement This Presentation includes forward-looking statements that reflect the Company's intentions, beliefs or current expectations concerning, among other things, the Company’s results, condition, performance, prospects, growth, strategies and the industry in which the Company op
Slide 86: Appendix
Appendix Villa Casimir Roermond - Netherlands -86-
Slide 87: Portfolio growth: investment programme
Portfolio growth Investment programme as of 31 December 2022 INVESTMENT PROGRAMME: €671 MILLION Development Rent Rent Development Rent Yield2 Country (in € million) projects (in € million) projects1 (in € million) (in € million) Triple net 406 20 5.1% BE 65 3 DE 138 7 Double net 261 15 5.5% NL 37 2
Slide 88: Portfolio growth: Pipeline €671 million
Portfolio growth Pipeline: €671 million 1% PRE-LET DEVELOPMENT PROJECTS AND 20% Projects in progress ACQUISITIONS IN PROGRESS Projects subject to outstanding conditions 79% Land reserve -88-
Slide 89: Belgian REIT
Belgian REIT ‘sicafi / vastgoedbevak’ Appraisal: Tax status: until 17 October 2014 at fair value on a quarterly basis by exit tax a valuation expert limited corporate tax in no depreciation of properties Belgium for parent company RREC (SIR / GVV) since 17 Dividend: at least 80 % of Withholding tax
Slide 90: Innovative healthcare real estate
Innovative healthcare real estate Villa Casimir: an A-rated redevelopment Roermond (NL) Completed in October 2020 Former villa and ‘Rijksmonument’ (national heritage site) Redeveloped into a care residence for 18 elderly residents requiring continuous care EPC G → A -90-
Slide 91: Innovative healthcare real estate
Innovative healthcare real estate Villa Casimir: an A-rated redevelopment Restoration of the villa’s unique characteristic elements : high windows wooden beams French doors stained-glass windows Improved insulation of the roof, walls & basement floor Barrier-free environment High-performance cooling
Slide 92: Innovative healthcare real estate
Innovative healthcare real estate Villa Casimir: an A-rated redevelopment FUTUREPROOF BUILDING, FIT FOR THE CURRENT GENERATION AND THE NEXT Low-temperature heating Individual ventilation type C+ All-electric approach: opportunity to use green energy & accommodate new technological developments Futur
Slide 93: Notes
fl Notes aedifica | housing with care -93-