Unibail-Rodamco-Westfield SE · EURONEXT:URW

Unibail-Rodamco-Westfield — Unibail-Rodamco — Investor Day (May 2016)

16 slides from Unibail-Rodamco-Westfield's investor day presentation, May 12, 2016

  1. Slide 1: Offices - 2016 Investor Days

    Offices - Bruno Donjon de Saint Martin, Managing Director 2016 INVESTOR DAYS

  2. Slide 2: Disclaimer

    DISCLAIMER Unibail-Rodamco S.E., a Société Européenne à Directoire et Conseil de Surveillance incorporated under French law, is a listed closed end property investment company. Unibail-Rodamco is registered with the French Authority of Financial Markets (AMF). The value of your investment may fluctu

  3. Slide 3: We generate high returns even in tough market conditions

    WE GENERATE HIGH RETURNS EVEN IN TOUGH MARKET CONDITIONS So Ouest 2,8 Ancelle Majunga So Ouest Plaza 33,252 m² 17,226 m² 65,565 m² 40,798 m² Delivered in Jan 2013 Delivered in Sept 2014 Fully let to SAP and PRA Pre let to CMS Bureau Francis Lefebvre Delivered in July 2014 Delivered in May 2015 IRR(1

  4. Slide 4: 1st Pillar – Focus on prime and large office buildings

    1 PILLAR – FOCUS ON PRIME AND LARGE OFFICE BUILDINGS… ST 94% Sisters Trinity of standing and pipeline So Ouest offices assets located in Paris CBD, CNIT Les Villages So Ouest Plaza La Défense, Western Tour Ariane Crescent Le Wilson 2-8 Ancelle Divested/ Michelet Majunga Capital 8 ongoing divestment

  5. Slide 5: … in a market with strong fundamentals (1/2)

    … IN A MARKET WITH STRONG FUNDAMENTALS (1/2) One of the main office markets in the world and the largest in Europe Unibail-Rodamco’s strong knowledge of the Paris market Close relationship with public authorities 30 Stock and Take-up in Europe 2.0 2.0 25 1.6 1.6 Take up (Mn sqm, Apr 2004-2015) 20 St

  6. Slide 6: … in a market with strong fundamentals (2/2)

    … IN A MARKET WITH STRONG FUNDAMENTALS (2/2) Volumes invested in Paris region Breakdown by transaction size €20 Bn €18 Bn €16 Bn € Bn (as of Q4 2015) €14 Bn €12 Bn 5.8% 5.5% €10 Bn €8 Bn 4.8% €6 Bn 4.3% 4.5% 4.5% 4.5% 4.0% €4 Bn 4.0% €2 Bn 3.8% 3.5% €0 Bn 2005 2006 2007 2008 2009 2010 2011 2012 2013

  7. Slide 7: London office market more volatile than Paris market

    LONDON OFFICE MARKET MORE VOLATILE THAN PARIS MARKET Prime rents(1) Central Paris vs Central London(2) and La Défense vs Docklands 1,839 1,716 1,489 1,284 1,054 959 887 820 820 780 739 745 700 620 650 595 560 588 702 545 515 487 579 626 430 540 420 461 2000 2001 2002 2003 2004 2005 2006 2007 2008 20

  8. Slide 8: Scarcity of new or refurbished-as-new buildings

    SCARCITY OF NEW OR REFURBISHED-AS-NEW BUILDINGS Vacancy rate(3) Paris CBD and La Défense – New vs 2nd hand buildings 9% 2nd hand is 8% 81% 7% of supply(1) 6% 5% 4% 16% 3% 2% of the Paris office 1% stock Grade A(2) 0% Q4 2001 Q4 2002 Q4 2003 Q4 2004 Q4 2005 Q4 2006 Q4 2007 Q4 2008 Q4 2009 Q4 2010 Q4

  9. Slide 9: 2nd Pillar – Innovation at the core of our strategy: Majunga

    2 PILLAR – INNOVATION AT THE CORE OF OUR STRATEGY ND MAJUNGA AND THE NEW ART OF WORKING A zen, peaceful & Loggias and operable Large outside Customized services multipurpose lobby windows for everyone terraces and restauration offers 1st high rise office building in Europe with open frames for comfo

  10. Slide 10: 2nd Pillar – Innovation: Trinity, a step further

    2 PILLAR – INNOVATION AT THE CORE OF OUR STRATEGY ND TRINITY: A STEP FURTHER Life inside exposed to A profusion 1,100 m² of outside Exceptional reception the outside of natural light terraces and loggias areas @ 100 m height Trinity: An urban project 9

  11. Slide 11: Innovation to anticipate tomorrow's needs

    INNOVATION TO ANTICIPATE TOMORROW'S NEEDS Meeting and exchange Duplex floors fostering Co-working spaces Outside terraces spaces in Trinity collaboration among in Triangle in Sisters employees in Trinity Innovation on all pipeline projects 10

  12. Slide 12: 3rd Pillar – Controlled investment costs from the very beginning

    3RD PILLAR – CONTROLLED INVESTMENT COSTS FROM THE VERY BEGINNING Unibail-Rodamco seeks to differentiate from competition of traditional office developers By taking advantage of opportunities • So Ouest Plaza • 2-8 Ancelle By leveraging on its portfolio and exclusivity rights • Majunga • CNIT / Phare

  13. Slide 13: Case study: Majunga (1/2)

    CASE STUDY: MAJUNGA (1/2) Context: 3 3 tower projects in La Défense at the same time in the plan called 2 “Renouveau de la Défense” (2006-07) Unibail-Rodamco anticipated a high level of competition at delivery of Majunga 1 Focus on innovation in order to differentiate from the competition Majunga D2

  14. Slide 14: Case study: Majunga (2/2)

    CASE STUDY: MAJUNGA (2/2) Majunga, an impressive outperformance of the competition Rent maintained at €550/m² when competitors have decreased their rents 1st signing on the lower floors whereas 1st deal on Carpe Diem was on upper floors Average size of deals on Majunga of ~ 30,000 m² compared to 7,0

  15. Slide 15: To be continued thanks to our development pipeline

    TO BE CONTINUED THANKS TO OUR DEVELOPMENT PIPELINE 228,833 m² of new GLA Office development pipeline represents 37% of existing office portfolio(1) Trinity Sisters Triangle • 48,693 m² GLA • 95,000 m² GLA • 85,140 m² GLA • TIC: €310 Mn • TIC: €629 Mn • TIC: €521 Mn H2-2018 Post 2020 Post 2020 €1.5 B

  16. Slide 16: www.unibail-rodamco.com

    unibail-rodamco www.unibail-rodamco.com

Unibail-Rodamco — Investor Day (May 2016) on 6ix