Slide 1: 2022 Annual Results
2022 ANNUAL RESULTS February 16th, 2023 Non contractual document
Slide 2: Management team presenters
Antoine CASTRO Anne SCHWARTZ Group Chairman & CEO PAREF Gestion CEO 25 years of experience in real estate management and 24 years of experience in Real Estate, including real estate management within international companies, such as: Fosun development and fund management. Former Head of Hive Holding
Slide 3: 2022 Highlights
BZPAREF 2022 HIGHLIGHTS PAW AVAVAY A ET FT ea VA NAY A __/ LMT LAA. St mle
Slide 4: Overview
2022 Overview European expansion supported by track record over past 31 years We are an integrated platform We serve our partners and investors needs across the whole investment spectrum €3.0 bn 7 Euronext Assets under Present in Listed and management European countries 1 HQ in Paris 5 sectors 500+
Slide 5: Asset under Management
2022 Highlights Asset under Management PAREF has consistently grown its Assets under Management in multiple sectors and countries Assets under Management (€) AuM split by Geography (%) AuM split by Sector (%) +89.3% Netherlands 3% Light industrial Hospitality 4% Central Europe 2% / Logistics 1% €3.0
Slide 6: Towards predictable revenue streams and diversified client base
2022 Highlights Towards predictable revenue streams and diversified client base Moving towards a Balanced Revenue and AuM Mix with Increasing Share of Resilient Asset Management Fees Group Gross Income Evolution since 2018 2018 2019 2020 2021 2022 21% 17% 17% 27% 31% 29% 43% 45% 60% 19% 59% 24% 37%
Slide 7: REIT Portfolio: Portfolio optimization to create value
2022 Highlights REIT Portfolio: Portfolio optimization to create value Resilient value creation through successful Asset Management initiatives Solid operational indicators of owned assets Gross initial yield remains stable at 6.5% Financial occupancy rate: 99.1%1 (compared to 95.3% in 2021) / WALB
Slide 8: The Go | Levallois-Perret | France
2022 Highlights The Go | Levallois-Perret | France - Project Management track record Investment Overview Independent building strategically located at the entrance of Levallois-Perret nearby of the “So Ouest” shopping mall, offering a strong visibility Direct vicinity to the ring road and close to t
Slide 9: Leon Frot | Paris | France
2022 Highlights Leon Frot | Paris | France - Project Management track record Investment Overview Located in Paris, in the Eastern part of the right bank, Paris 11th district, a few steps away from Boulevard Voltaire, one of the major streets of the district, and 180m from the nearest metro station O
Slide 10: PAREF Gestion: Dynamic fund raising
2022 Highlights PAREF Gestion: Dynamic fund raising supported by funds performance and investment pipelines PAREF Gestion is an AIFM-licensed company managing across 8 active funds1 Annual gross fundraising reaching €194m 6 Total investment volume : €275m Total disposal amount: €57m SCPI Interpierre
Slide 11: PAREF Gestion: Active acquisitions over Europe
2022 Highlights PAREF Gestion: Active acquisitions over Europe Consistent and strong fund performance drives fundraising, allowing sizeable acquisitions Interpierre France | Toulouse, France Novapierre Allemagne 2 | Rheinfelden & Bedburg, Germany 8,900sqm 31,600sqm office building 2 retail-parks 100
Slide 12: PIM: The Medelan mandate
2022 Highlights PIM: Asset Management track record – The Medelan mandate Investment Overview 55,000 sqm refurbishment project in the center of Milan. Located on Piazza Cordusio, participating in the wider regeneration of the piazza Preserving the historical architectural characteristics of the asset
Slide 13: PAREF ESG Committee
PAREF ESG Committee International and diverse Governance & Leadership Strengthen Governance on ESG with Experts to Better Incorporate ESG Initiatives Non contractual document 13
Slide 14: ESG Achievements 'Create More'
2022 Highlights ESG Achievements “ Create More” Carbon Neutrality for 2030 • We work towards to decarbonisation, including energy audits and CRREM, to achieve carbon neutrality* for our portfolio by 2030 E • Launched internal guidelines in line with the EU Taxonomy for heavy refurbishments • We moni
Slide 15: Financial Results
BZPAREF 2022 FINANCIAL RESULTS PAW AVAVAV /. i A LOAY ANN ZA VAY Mal AMM / 49 f.
Slide 16: Solid KPIs
Financial Results Solid KPIs SOLID IMPROVING HEALTHY Operating Profile Operating Performance Financial structure 6.5% (1) +20% 22% EPRA Net Recurring Result vs 2021 Yield LTV 99.1% (2) +30% 1.1 Y. Financial Occupancy Rate Management fees Average Maturity of Debt 4.2 Years +99% Average firm lease len
Slide 17: 2022 Trends
Financial Results 2022 Trends Net Revenues1 Net Result NRV/SHARE2 13,4 24.2 11,8 11.0 21,4 6,7 130,0 128,0 20,7 125,1 19,9 19.4 117,9 8,2 Rents 106,7 8,0 6,9 17,5 4.9* 11,4 -0.9 Non rec. Fees 4,1 4.0 Recurring 2018 2019 2020 2021 2022 in €Mn 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 in €Mn +
Slide 18: EPRA NRV
EPRA NRV EPRA NRV stands at €128.0/share, decreasing by 1.5% NRV evolution between 2021 et 2022 Non contractual document 18
Slide 19: REIT Financial Structure
Financial Results REIT Financial Structure Strong financial flexibility to support development Evolution of cost of debt since 2018 1.1-year Average LTV(1) ICR(2) Cost of debt maturity of 22% 4.7x 1.60% (3) 3,60% debt Robust debt management ▪ PAREF gross debt at €60Mn as at December 31st 2022, of wh
Slide 20: Proposed distribution of €3.0 per share
Financial Results Dividend Proposed distribution of €3.0 per share For 2022 fiscal year to be paid in cash in 2023 for a total amount of €4.5m, subject to the approval of Annual General Meeting -33% vs. 2021 dividend, which was historical high dividend due to the disposal of a major asset (Gentilly)
Slide 21: Outlook
BZPAREF | 2023 OUTLOOK PAW AVAVAY A ET FT ea VA NAY A __/ LMT LAA. St mle
Slide 22: PAREF Strategy Outlook
PAREF Strategy Outlook 2023 Mid-term strategy Key areas of focus to allow PAREF to grow into a pan-European manager Continue value creation on owned assets and leverage on the strong balance sheet of the Group… • Drive performance of the REIT portfolio through value creation and tenant retention, •
Slide 23: Q&A
BZPAREF Q&A
Slide 24: Disclaimer
DISCLAIMER This document is solely for the use of the recipient who has received it directly from PAREF for information and discussion purposes only. It is to be treated strictly confidential. Furthermore, this document and any information contained herein should not be copied and circulated in whol
Slide 25: Contact details
153, bd Haussmann 75008 Paris + 33 (0)1 40 29 86 86 info@paref.com