Slide 1: 2023 Annual Results
2023 ANNUAL RESULTS February 22nd, 2024
Slide 2: Team
Team Antoine Castro Anne Schwartz Jia Wang Öykü Kurtoglu Chairman & CEO Deputy CEO PAREF CFO PAREF Head of ESG PAREF CEO PAREF Gestion PAREF antoine.castro@paref.com anne.schwartz@paref.com jia.wang@paref.com oyku.kurtoglu@paref.com 2
Slide 3: 2023 Highlights
BZPAREF 2023 HIGHLIGHTS PAW AVAVAY A ET FT ea VA NAY A __/ LMT LAA. St mle
Slide 4: 2023 Highlights: European expansion and integrated platform
2023 Highlights European expansion supported by track record over past 31 years We are an integrated platform with a 360° vision 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
Slide 5: REIT Portfolio: Solid operating performances of owned assets
2023 Highlights REIT Portfolio: Solid operating performances of owned assets Progressing works on the refurbishment of the portfolio 7 €8.8m 99.1%1 4.5 yrs €169m 7.5%1 Net rent income Financial occupancy Total owned REIT assets WALB Gross initial yield (31%+ YoY) rate portfolio valuation Highlights
Slide 6: PAREF Gestion: Resilient fund performances aligned with forecasts
2023 Highlights PAREF Gestion: Resilient fund performances aligned with forecasts PAREF Gestion is an AIFM-licensed company managing 8 active funds AuM as of Dec 31, 2023: €2.0bn, including 6 SCPIs, 1 OPPCI and 1 other FIA 4 funds within the Article 8 SFDR regulation, with Interpierre Europe Central
Slide 7: PAREF Gestion: Active acquisitions across Europe
2023 Highlights PAREF Gestion: Active acquisitions across Europe Consistent and strong fund performance drives fundraising, allowing sizeable acquisitions Interpierre France | Auvergne-Rhône-Alpes, France Novapierre Allemagne 2 | North Rhine-Westphalia, Germany 6,200sqm 4,600sqm Office & industrial
Slide 8: Choices of clients, stakeholders and employees
2023 Highlights Choices of clients, stakeholders and employees Efforts recognized by positive feedback from clients, stakeholders, and employees on products, ESG focus and culture Products Awards ESG Accomplishments PAREF as Employer Carbon Neutrality for 2030 • Recognized as “Happy at work” and “We
Slide 9: Financial Results
BZPAREF 2023 FINANCIAL RESULTS PAW AVAVAV /. i A LOAY ANN ZA VAY Mal AMM / 49 f.
Slide 10: KPIs in a nutshell
2023 Full-Year Results KPIs in a nutshell Operating Performance Operating Profile Financial structure +31% 7.5% (2) 28% Net rental income vs 2022 Yield LTV +4.4% 99.1% (3) 4.5Years Gross rents on like-for-like basis Financial Occupancy Rate Average Maturity of Debt +15% (1) 4.5 Years 4.0x Management
Slide 11: Recurring revenue benefits from diversified activities
2023 Full-Year Results Recurring revenue benefits from diversified activities Gross rental income: Variation In €m 2022 2023 in % Positive rent indexation: +4.2% Gross rental income 7.1 9.0 27% New lease signed: +22,9% Management commissions 15.5 15.5 0% Management commissions: Subscription commissi
Slide 12: Net asset value mainly impacted by value depreciation
2023 Full-Year Results Net asset value mainly impacted by value depreciation Dec 31, 2023 2022 2023 Variation in % Offices are mostly impacted by increase in cap In €m 193 171 -11% EPRA NRV rate in the past 12 months : € / share 128.0 113.3 -11% Office: +35 – 79 bps EPRA NTA In €m 191 170 -11% € / s
Slide 13: REIT Financial Structure
2023 Full-Year Results REIT Financial Structure 4.5-year Average 28% 4.0x 1.62% maturity of LTV(1) ICR(2) Cost of debt(3) debt Financial structure strengthened with extended debt maturity: ▪ Gross debt: €70m as of December 31st 2023, of which €50m mortgaged ▪ Average cost of debt in 2023: 1.62% ▪ Av
Slide 14: Proposed distribution of €1.5 per share for 2023
2023 Full-Year Results Dividend Proposed distribution of €1.5 per share for 2023 financial year Payable in cash (total amount: €2.3m), to be approved by Annual Shareholders’ meeting in May 2024 Corresponding to 2023 recurring net results Compliant with distribution requirement under SIIC regime Divi
Slide 15: Outlook
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Slide 16: PAREF Strategy Outlook: Foundation and achievements
PAREF Strategy Outlook Foundation and achievements PAREF evolved from a French retail savings manager into … a pan-European real estate investment manager for institutional and retail clients as a one-stop-service provider European expansion Strong One Stop « Tempo » and « The Go » refurbishments Fo
Slide 17: Progressive diversification of revenue sources
PAREF Strategy Outlook Progressive diversification of revenue sources Moving towards a balanced revenue and AUM mix with increasing share of resilient asset management fees Group Gross Revenue Evolution Group AuM by Geography Evolution 2018 2023 2018 2023 2% 2% 21% 28% 27% 29% 21% 38% €35.3m €34.0m
Slide 18: What's next
PAREF Strategy Outlook What’s next Continue diversifying revenue and increasing recurring income, providing investment solutions for institutional and retail investors ✓ Distinctive and easy to understand ✓ Flexible offering implemented through product offering separate accounts and programmatic Joi
Slide 19: Q&A
BZPAREF Q&A
Slide 20: 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 21: 153, bd Haussmann 75008 Paris
153, bd Haussmann 75008 Paris + 33 (0)1 40 29 86 86 info@paref.com