Patrizia Se · XETR:PAT

Patrizia — Investor Presentation (June 2026)

31 slides from Patrizia's investor presentation, June 2026

Slide 3: PATRIZIA evolved from a German real estate to a global real asset investment manager
PATRIZIA evolved from a German real estate to a global real asset investment manager 56bn 2026 Transformation execution | A more efficient and scalable platform position PATRIZIA AUM for the next growth cycle 2022 Conversion of PATRIZIA’s legal structure to a Societas Europaea “SE”, Whitehelm Capita
Slide 4: PATRIZIA a global investment manager for real assets
PATRIZIA a global investment manager for real assets AUM | EUR bn EUR ~56bn Assets under management (AUM) Real Estate Infrastructure Management fees (EURm) 70 60.0 490 M&A: - 55.0 #3 60 Whitehelm Capital, 59 57 in European Fully independent investment manager1 Advantage Investment 56 56 Real Estate
Slide 5: A dual engine powers our business model
A dual engine powers our business model Invested capital as at Full services across the value chain 31 December 2025 | EUR m Investment Balance Sheet Real Estate Infrastructure Other1 Management Investments 140 Investment Strategy Investment Asset light business model Utilising own financial strengt
Slide 6: Strategic milestone reached in 2025 with management fees exceeding operating expenses
Strategic milestone reached in 2025 with management fees exceeding operating expenses Earnings quality | illustrative • Management fees exceeded operating expenses in Operating expenses excl. reorganisation expenses FY 2025, marking an important profitability milestone Transaction fees, performance
Slide 7: DUEL mega trends drive PATRIZIA's strategy for value creation
DUEL mega trends drive PATRIZIA’s strategy for value creation Digital Transition Urban Transition Energy Transition Living Transition Enable digital growth through Shape cities where density, Deliver electrification and Respond to affordability, data centres, networks and regeneration and infrastruc
Slide 8: Strategic growth areas - "5 for 2030"
Strategic growth areas - “5 for 2030” Fundraising focus on thematic strategies and flagship products 1 RE-Infra/Smart Cities 2 European Infrastructure 3 Living 4 Real Estate Value Add 5 Advantage Investment Partners PATRIZIA | © 2026 8
Slide 9: PATRIZIA's management is international and diverse
PATRIZIA’s management is international and diverse Board of Directors (BoD) Kuhnke Fronhöfer Irvine Khowala Egger Wöhrmann Frank Michael Jacqui Aradhana Wolfgang Asoka (Independent) (Independent) (Independent) (Independent) Chair Deputy Chair Audit Committee Nomination and Remuneration Committee Fra
Slide 11: Our Equity Story underlines our uniqueness as a real asset expert
Our Equity Story underlines our uniqueness as a real asset expert 1. Structural Growth Market 2. Diversification & Quality We benefit from increasing allocations to real Our diversified AUM across asset classes, sectors assets by providing investment solutions in resilient and regions are characteri
Slide 12: AUM: Broad diversification of assets under management across asset classes and regions
AUM | Broad diversification of assets under management across asset classes and regions EUR EUR EUR ~ 56 bn 45+ bn ~ 11 bn total assets under management real estate assets under management Infrastructure assets under management 3% 2% 3% 3% 5% 4% 19% 8% 28% 4% 5% 5% 12% AUM by AUM by AUM by 50% secto
Slide 13: AUM | High-quality AUM with long duration and significant additional dry power
AUM | High-quality AUM with long duration and significant additional dry power Open equity commitments for investments Maturity breakdown of AUM2 | in EUR bn by asset classes1 | EUR bn 85% Infrastructure Real Estate 3% of total AUM with more 9% than 10 years maturity 2% Maturity 0.7 breakdown o
Slide 14: Clients | Firepower for investments available from a broadly diversified client base
Clients | Firepower for investments available from a broadly diversified client base AUM by clients | in % Total equity commitments in funds by Total equity commitments in funds by client location | in % clients2 | in % 75% 5% 5% 1% 62% 33% 36% 48% 20% 55% 32% 3% 21% 5% 6% 6% 9% 17% 6% Top 1 Top 5
Slide 15: Fees | AUM growth translates into resilient recurring management fees
Fees | AUM growth translates into resilient recurring management fees Total service fee income | EUR m Management fees Transaction fees Performance fees SÜDEWO performance fee 348 346 320 328 325 312 ~90% of revenues 92 86 61 (total service fee income) ~41bps 269 1 86 47 264 driven by recurring Mana
Slide 16: 3M 2026 | AUM almost stable, reflecting resilient portfolio and limited market impact
3M 2026 | AUM almost stable, reflecting resilient portfolio and limited market impact AUM1 development 3M 2026 | EUR bn • AUM remained broadly stable at EUR 55.8bn, demonstrating resilience despite a more volatile market environment 60.0 0 0 0.2 • No material impact from valuation and currency effec
Slide 17: 3M 2026 | Improved earnings quality and cost discipline drive strong EBITDA and margin growth
3M 2026 | Improved earnings quality and cost discipline drive strong EBITDA and margin growth Composition of EBITDA | EUR m • EBITDA increased by 41% to EUR 23.7m, driven by increase in    - 5% - 8% total service fee income and materially lower operating expenses + 15%   12.2 3.6 • EBITDA margi
Slide 18: 3M 2026 | Operating expenses further reduced via lower staff costs and platform optimisation
3M 2026 | Operating expenses further reduced via lower staff costs and platform optimisation Operating expenses y-o-y | EUR m • Continued progress in platform optimisation and efficiency  measures, reducing the operating cost base - 14%    + 7% - 8% - 8% -5.2 • Operating expenses declined by -8%
Slide 19: 3M 2026 | Stronger profitability in Investment Management driving improved earnings quality
3M 2026 | Stronger profitability in Investment Management driving improved earnings quality EBITDA by segments | EUR m  change y-o-y  • EBITDA in Investment Management increased to EUR 21.5m (3M 2025: EUR 14.4m), highlighting   improved profitability of the asset-light business - 4% 0% + 41%  +
Slide 20: Disciplined balance sheet investments supporting platform growth and alignment
Disciplined balance sheet investments supporting platform growth and alignment PATRIZIA’s (own) Invested capital1 | EUR m • Disciplined deployment of balance sheet capital into Other Real Estate Infrastructure co-investments, seed capital and targeted strategies • EUR 26m invested in 3M 2026, into a
Slide 21: Guidance 2026 – confirmed
Guidance 2026 – confirmed 120 FY 2025 FY 2026e • Guidance confirmed, reflecting confidence in the resilience 100 of the business model despite a more volatile environment 80 60.0 – 75.0 63.0 • Concentrated efforts on further improvement of internal 60 EBITDA process efficiencies, cost ratios and rec
Slide 22: Extension of Dawonia mandate and agreed scheme for realisation of exit carry
Extension of Dawonia mandate and agreed scheme for realisation of exit carry • PATRIZIA and investors extended the management mandate for the flagship residential fund until 2030, with options for further extensions • PATRIZIA’s successful management of Dawonia (AUM: ~EUR 5bn) contributes on a recur
Slide 23: Strong and resilient balance sheet supporting strategic flexibility
Strong and resilient balance sheet supporting strategic flexibility Strong balance sheet Liquidity • Robust equity base with equity ratio of 67.1% and EUR m 31.03.2026 EUR m 31.03.2026 net equity ratio of 73.0% Total assets 1,700.6 Bank balances, 145.5 Equity (excl. non- 1,140.4 cash and term deposi
Slide 24: PATRIZIA's Sustainability Strategy
PATRIZIA’s Sustainability Strategy As a leading partner for global real assets, PATRIZIA is committed to building smarter communities and sustainable futures Climate Resilience E Building Communities S Responsible Investment G We accelerate the climate transition through We enable our people and com
Slide 25: Making an impact since 1984
Making an impact since 1984 PATRIZIA and the PATRIZIA Foundation have supported children in need with education and healthcare globally for decades Our Mission PATRIZIA Foundation: Our Vision PATRIZIA Foundation: 26 worldwide projects Foundation offices globally Markets with PATRIZIA Foundation proj
Slide 27: Stable shareholder structure and upside to analyst target prices
Stable shareholder structure and upside to analyst target prices PATRIZIA share performance | as at 30.04.2026 Shareholder structure | as at 30.04.2026 Analyst recommendations | as at 12.05.2026 EUR 30.00 30.00 € 6 25.00 23.02% 25.00 € 20.00 20.00 € 15.00 15.00 € 10.00 10.00 € Shareholder 5.00 5.00
Slide 28: PATRIZIA share performance & what is the implied value of the operating business?
PATRIZIA share performance & what is the implied value of the operating business? Share Performance last 12 months compared to peer group Implied valuation: Market currently assigns no value to returns 30% (FY 2025 = EUR 51m EBITDA) achieved in Investment Management Segment as at 31 March 20261 | E
Slide 29: Attractive and reliable dividend with strong yield and clear policy
Attractive and reliable dividend with strong yield and clear policy Dividend per share | EUR • Proposed dividend of EUR 0.36 per share, marking the 8th consecutive increase since 2018 +2.9% 0.36 • Attractive dividend yield of ~4.9%1, offering a compelling 0.34 0.35 income proposition for shareholder
Slide 30: Operating cash flow 2025 – driven by improved operating performance
Operating cash flow 2025 – driven by improved operating performance Operating cash flow y-o-y | EUR m • Operating cash flow surged to EUR 57.6m (2024: EUR 12.6m) mainly driven by: o Net profit improving by EUR 14.0m y-o-y driven by improved operating performance 13.8 o Active working capital managem
Slide 31: Contact
Contact Upcoming Events 10 JUN 26 2026 Annual General Meeting 10 AUG 26 H1 2026 Financial Report H1 2026 Investor and analyst 11 AUG 26 conference call Further Events: https://ir.patrizia.ag/en/events-for-shareholders Martin Praum Dr Janina Rochell Verena Schopp de Alvarenga Executive Director | CFO

Patrizia — Investor Presentation (June 2026) on 6ix

Patrizia — Investor Presentation (June 2026)

Slide 1: Company Presentation

Slide 2: Agenda

Slide 3: PATRIZIA evolved from a German real estate to a global real asset investment manager

Slide 4: PATRIZIA a global investment manager for real assets

Slide 5: A dual engine powers our business model

Slide 6: Strategic milestone reached in 2025 with management fees exceeding operating expenses

Slide 7: DUEL mega trends drive PATRIZIA's strategy for value creation

Slide 8: Strategic growth areas - "5 for 2030"

Slide 9: PATRIZIA's management is international and diverse

Slide 10: Agenda

Slide 11: Our Equity Story underlines our uniqueness as a real asset expert

Slide 12: AUM: Broad diversification of assets under management across asset classes and regions

Slide 13: AUM | High-quality AUM with long duration and significant additional dry power

Slide 14: Clients | Firepower for investments available from a broadly diversified client base

Slide 15: Fees | AUM growth translates into resilient recurring management fees

Slide 16: 3M 2026 | AUM almost stable, reflecting resilient portfolio and limited market impact

Slide 17: 3M 2026 | Improved earnings quality and cost discipline drive strong EBITDA and margin growth

Slide 18: 3M 2026 | Operating expenses further reduced via lower staff costs and platform optimisation

Slide 19: 3M 2026 | Stronger profitability in Investment Management driving improved earnings quality

Slide 20: Disciplined balance sheet investments supporting platform growth and alignment

Slide 21: Guidance 2026 – confirmed

Slide 22: Extension of Dawonia mandate and agreed scheme for realisation of exit carry

Slide 23: Strong and resilient balance sheet supporting strategic flexibility

Slide 24: PATRIZIA's Sustainability Strategy

Slide 25: Making an impact since 1984

Slide 26: Agenda

Slide 27: Stable shareholder structure and upside to analyst target prices

Slide 28: PATRIZIA share performance & what is the implied value of the operating business?

Slide 29: Attractive and reliable dividend with strong yield and clear policy

Slide 30: Operating cash flow 2025 – driven by improved operating performance

Slide 31: Contact