Slide 1: Annual results 2017/2018
Annual results 2017/2018 30 June 2018 Brussels, 5 September 2018 -1-
Slide 2: Table of contents
Table of contents > Highlights FY 2017/2018 > Strategy > Achievements > Portfolio analysis > Financials > Shares & shareholders > Outlook > Conclusion -2-
Slide 3: Highlights FY 2017/2018
Highlights FY 2017/2018 Résidence l’Air du Temps Chênée - Belgium -3-
Slide 4: Highlights FY 2017/2018 (1)
Highlights FY 2017/2018 (1) > Rental income: €91.7 million, +16 % YoY, +2.4 % L-F-L > EPRA Earnings: €58.4 million, +22 % YoY > EPRA Earnings per share: €3.25, +3 % YoY > Dividend proposed: €2.50 gross per share, +11 % YoY > Real estate portfolio of €1.7 billion, + 13 % YoY > Record level of €459 mi
Slide 5: Highlights FY 2017/2018 (2)
Highlights FY 2017/2018 (2) > Healthcare real estate: 84% of the portfolio, totaling €1,431 million spread over 135 sites in 3 countries − €925 million in Belgium (73 sites) − €283 million in Germany (30 sites) − €222 million in The Netherlands (32 sites) > Weighted average lease term: 20 years > De
Slide 6: Investment activity - Belgium
Investment activity - Belgium FY 2017/2018 (As of 30 June 2018) > 1 addition − De Duinpieper (Ostend) > 3 sites available for use after extension works − Villa Temporis phase II (Hasselt) − Résidence l’Air du Temps (Chênée) − Résidence Les Cheveux d’Argent (Sart-lez-Spa) -6-
Slide 7: Investment activity - Germany
Investment activity - Germany FY 2017/2018 (As of 30 June 2018) > 8 additions − Seniorenheim am Dom (Halberstadt) − Seniorenresidenz an den Kienfichten (Dessau-Rosslau) − Bremerhaven I (Bremerhaven) − Bremerhaven II (Bremerhaven) − Cuxhaven (Cuxhaven) − advita Haus Zur Alten Berufsschule (Zschopau)
Slide 8: Investment activity - The Netherlands
Investment activity - The Netherlands FY 2017/2018 (As of 30 June 2018) > 6 additions > 9 turnkey projects to be − Huize Hoog Kerckebosch delivered − Martha Flora Den Haag (The Hague) − Huize De Compagnie (Ede) − De Merenhoef (Maarssen) − Huize Ter Beegden (Beegden) − Martha Flora Hoorn (Hoorn) − Ma
Slide 9: Investment activity Q1 2018/2019
Investment activity Q1 2018/2019 (As of 5 September 2018) > 4 additions − Azurit Seniorenzentrum Sonneberg (Sonneberg, Germany) − Azurit Seniorenzentrum Haus Cordula I (Rothenberg, Germany) − Azurit Seniorenzentrum Haus Cordula II (Rothenberg, Germany) − Hansa Pflege- und Betreuungszentrum (Dornum,
Slide 10: Portfolio outlook
Portfolio outlook Total portfolio outlook: €2.2 billion (As of 5 September 2018) +459 +19 +4 2,183 1,705 -4 -10-
Slide 11: Strategy
Strategy Residentie Sporenpark Beringen - Belgium -11-
Slide 12: Aedifica
Aedifica > Belgian REIT (RREC/SIR/GVV) − market cap ~ €1.5 billion − free float of 100 % − marketable investment properties ~ €1.7 billion − approx. 875,000 m² > Focusing on healthcare real estate: “housing with care” − demographic evolution: ageing > European focus − Belgium − Germany − The Netherl
Slide 13: Demographic evolution
Demographic evolution Ageing in Belgium Ageing in Germany Source: "Perspectives de population 2017-2061", Belgian Federal Planning Bureau, 2018. Source: "Bevölkerung Deutschlands bis 2060", Statistisches Bundesamt (Deutschland), 2015. Ageing in The Netherlands Source: "Prognose bevolking kerncijfers
Slide 14: Healthcare real estate
Healthcare real estate > Focus on senior housing − Rest homes (high care) ̶ Belgium: Woonzorgcentrum / Maison de repos ̶ Germany: Pflegeheim ̶ The Netherlands: Verpleeghuis, Zorgresidentie, ... − Assisted living / Independent living (low care) ̶ Belgium: Assistentiewoning / Résidence-services ̶ Germ
Slide 15: Segment information
Segment information Fair value of total portfolio: €1.7 billion Healthcare real estate Apartment buildings in Hotels in Europe Belgium’s main cities in Belgium Weight: 84 % 12 % 4% Gross yield: 5.7 % 5.1 % 6.3 % EBIT margin: 98 % 60 % 99 % → Cash flow → Value play → Cash flow (long leases) (long lea
Slide 16: Achievements
Achievements Huize Hoog Kerckebosch Zeist – The Netherlands -16-
Slide 17: Milestones: Investment properties
Milestones Investment properties* Evolution since 2006 €m CAGR: 26 % * Incl. assets classified as held for sale. -17-
Slide 18: Milestones: Focus on Senior Housing
Milestones Focus on Senior Housing Evolution by segment (fair value) Marketable investment properties incl.assets classified as held for sale (€1,705 m). -18-
Slide 19: Milestones: Focus on Europe
Milestones Focus on Europe Geographical breakdown (fair value) Marketable investment properties incl.assets classified as held for sale (€1,705 m) -19-
Slide 20: Milestones: Value creation since 2006
Milestones Value creation since 2006 -20-
Slide 21: Portfolio analysis
Portfolio analysis Bremerhaven I Bremerhaven - Germany -21-
Slide 22: Segments
Segments (As of 30 June 2018) Apartment buildings (768 apartments in 33 sites) Healthcare real estate (approx. 11,400 units in 135 sites) 6 hotels (544 rooms) Marketable investment properties incl. assets classified as held for sale (€1,705 m). -22-
Slide 23: Healthcare portfolio
Healthcare portfolio Segment diversification (As of 30 June 2018) Mixed facilities (assisted-living and other) Independent living Disabled care facilities 1% 8% 1% Mixed facilities 22% (assisted and independent living) 68% Assisted-living facilities Marketable investment properties healthcare real e
Slide 24: Geographical breakdown
Geographical breakdown (As of 30 June 2018) The Netherlands Wallonia Germany Flanders Brussels Marketable investment properties incl. assets classified as held for sale (€1,705 m) -24-
Slide 25: Belgian healthcare portfolio
Belgian healthcare portfolio (As of 30 June 2018) > Senior housing portfolio of 73 assets: − Capacity of approx. 7,400 residents − Total fair value of approx. €930 m − Yield on fair value of 5.6 % − Triple net long leases − Typical lease maturity: 27 years − 4 main tenants: Armonea, Orpea, Senior Li
Slide 26: Belgian healthcare portfolio
Belgian healthcare portfolio (As of 30 June 2018) Belgium Senior housing To be completed -26-
Slide 27: Belgian healthcare portfolio
Belgian healthcare portfolio Residentie Sporenpark, Oase Aarschot Beringen Wissenstraat, Aarschot • 127 units • 120 units Leopoldspark, Hestia, Wemmel Leopoldsburg • 222 units • 150 units -27-
Slide 28: German healthcare portfolio
German healthcare portfolio (As of 30 June 2018) > Senior housing portfolio of 30 assets*: − Capacity of approx. 2,800 residents − Total fair value of approx. €280 m − Yield on fair value of 6.1 % − Double net long leases − Typical lease maturity: 20 - 25 years − 12 tenants (advita, Alloheim, Conviv
Slide 29: German healthcare portfolio
German healthcare portfolio (As of 5 September 2018) Germany Senior housing Senior housing Apartment buildings To be completed Hotels & other Hotels & other -29-
Slide 30: German healthcare portfolio
German healthcare portfolio Service-Residenz advita Haus Zur Schloss Bensberg, Alten Berufsschule, Bergisch Gladbach Zschopau • 87 units • 127 units Bremerhaven I, Käthe-Bernhardt-Haus, Bremerhaven Husum • 110 units • 83 units -30-
Slide 31: Dutch healthcare portfolio
Dutch healthcare portfolio (As of 30 June 2018) > Senior housing portfolio of 32 assets*: − Capacity of approx. 1,150 residents − Total fair value of approx. €220 m − Yield on fair value of 5.6 %** − Mostly triple net long leases − Typical lease maturity: 15 - 20 years − 10 main tenants (Blueprint G
Slide 32: Dutch healthcare portfolio
Dutch healthcare portfolio (As of 5 September 2018) The Netherlands Senior housing To be completed Hotels & other -32-
Slide 33: Dutch healthcare portfolio
Dutch healthcare portfolio Martha Flora Het Gouden Hart, Hilversum, Kampen Hilversum • 37 units • 31 units Zorgresidentie Het Dokhuis, Mariëndaal, Oude Pekela Velp • 32 units • 75 units -33-
Slide 34: Healthcare real estate tenants
Healthcare real estate tenants > 135 sites with >80 tenants (or >35 ‘groups’)* representing European, national and local profit and not-for-profit operators * As of 30 June 2018. -34-
Slide 35: Lease maturity
Lease maturity (As of 30 June 2018) Initial lease term < 15 years 12 % 88 % ≥ 15 years, irrevocable Weighted average lease term 20 years Marketable investment properties incl.assets classified as held for sale (€1,705 m). -35-
Slide 36: Age of buildings
Age of buildings (As of 30 June 2018) Other contracts Buildings > 10 years 8% Other contracts Long-term Buildings between 19 % triple net 0-10 years 73 % contracts Marketable investment properties incl.assets classified as held for sale (€1,705 m). -36-
Slide 37: Occupancy rate
Occupancy rate 99 % 95 % → Very high and stable occupancy rates Red line: Total portfolio (excl. furnished apartments) (96% of portfolio) : (contractual + guaranteed rents) / (contractual rents + ERV for unlet spaces). Green dots: Furnished apartments (4% of portfolio) : Rented days QTD / total numb
Slide 38: Gross yields on fair value
Gross yields on fair value (As of 30 June 2018) Weighted average 5.7 % -38-
Slide 39: Segment EBIT margins
Segment EBIT margins* (As of 30 June 2018) Healthcare Apartment Hotels Unallocated & TOTAL real estate buildings inter-segment FY 2007/2008 100 % 64 % 98 % - 68 % FY 2008/2009 100 % 64 % 96 % - 71 % FY 2009/2010 100 % 64 % 99 % - 73 % FY 2010/2011 100 % 64 % 98 % - 75 % FY 2011/2012 100 % 63 % 99 %
Slide 40: Valuation of property
Valuation of property* 2008 → 2018 FY 2008/2009 FY 2009/2010 FY 2010/2011 FY 2011/2012 FY 2012/2013 €k % €k % €k % €k % €k % Healthcare 13 0% 1,684 1% 6,072 2% 5,991 2% 7,347 2% Apartment buildings -7,851 -4% -1,904 -1% 1,552 1% 3,032 2% -82 0% Hotels -1,415 -4% -963 -2% 1,191 2% 45 0% -1,017 0% Tot
Slide 41: Portfolio growth (1)
Portfolio growth Development projects as of 30 June 2018 (1) Projects or renovations Estimated Inv. as of Future Date of Comments (in € million) inv. 30/06/2018 inv. completion I. Projects in progress Heydeveld Opwijk (BE) 4 3 0 2018/2019 Extension of a rest home Huize Lieve Moenssens Dilsen-Stokkem
Slide 42: Portfolio growth (2)
Portfolio growth Development projects as of 30 June 2018 (2) Projects or renovations Estimated Inv. as of Future Date of Comments (in € million) inv. 30/06/2018 inv. completion II. Projects subject to outstanding conditions - - - - - -- III. Land reserves Plot of land Bois de la Pierre Wavre (BE) 2
Slide 43: Development projects
Development projects 3 3 3 2 2 -2 -2 -2 -3 -4 4 4 4 -7 -7 5 5 5 -9 -10 5 5 -11 1 459 7 7 9 7 16 10 40 244 122 -43-
Slide 44: Development projects
Development projects (As of 30 June 2018) Acquisitions subject to Land reserves: outstanding conditions: €2 million €33 million Projects in progress: €108 million Projects subject to outstanding conditions: €316 million -44-
Slide 45: Development projects
Development projects Belgium 2021/2022 2018/2019 Netherlands €52m €65m €73m €102m 12% 15% 17% 24% Projects: 2020/2021 Germany €101m €424m €270m 24% 2019/2020 €185m 64% 44% €459m > Key figures as of 30 June 2018: IP, Land reserves − 27 projects in progress (construction sites) representing a total &
Slide 46: Development projects
Development projects Specht (AR1) – Specht (AR1) – 01 Schwerin (DE) 02 Kaltenkirchen (DE) Construction start: Construction start: 28/02/2018 31/05/2018 Expected completion: Expected completion: 2019/2020 2019/2020 Specht (AR1) – 03 Lübbecke (DE) Seniorenzentrum Construction start: Weimar (DE) 28/02/
Slide 47: Financials
Financials Schloss Bensberg Bergisch Gladbach - Germany -47-
Slide 48: Income Statement - Business driven
Income Statement Business driven Income Statement - analytical scheme 30 June 2018 30 June 2017 Var. (x €1,000) Rental income 91,677 78,983 +16% Rental-related charges -80 -48 Net rental income 91,597 78,935 +16% Operating charges -14,322 -13,158 Operating result before result on portfolio 77,275 65
Slide 49: Rental income
Rental income (As of 30 June 2018) +12,515 -532 +711 91,677 78,983 Disposals -€441 k Disposals -€144 k Transfer Ring -€742 k Transfer Ring +€742 k Other changes +€651 k Other changes +€113 k -€532 k +€711 k Change: +19.6 % -4.8 %1 +16.5 %2 +16.1 % Like-for-like change: +1.6 % +6.9 % +0.6 % +2.4 % 16
Slide 50: EPRA Earnings
EPRA Earnings (As of 30 June 2018) +12,515 -796 -532 +682 -218 -848 +1,733 +160 +175 -2,278 -154 58,403 47,964 -50-
Slide 51: EPRA Earnings vs Budget
EPRA Earnings vs Budget (As of 30 June 2018) 56,599 58,403 -51-
Slide 52: Income Statement - Market driven
Income Statement Market driven Income Statement - analytical scheme 30 June 2018 30 June 2017 (x €1,000) EPRA Earnings 58,403 47,964 Changes in fair value of financial assets and liabilities -2,157 5,119 Changes in fair value of investment properties 15,018 10,357 Gains and losses on disposals of in
Slide 53: Hedging policy
Hedging policy (As of 30 June 2018) > Economic stability and Business driven: foreseeability of Avg effective interest rate of 2.0 %, interest cash below PY (2.3 %) and FY budget (2.1 %) outflows... > ... even in spite Market driven: of accounting Change in FV of derivatives (non cash items) under I
Slide 54: Consolidated balance sheet
Consolidated balance sheet (€ m) Balance sheet total: €1.77 billion (As of 30 June 2018) Assets Equity & Liabilities 3 2 -54-
Slide 55: Debt-to-assets ratio
Debt-to-assets ratio Before After Before After SPO 2015 SPO 2015 SPO 2017 SPO 2017 Headroom*: - Debt increase of €278 m without investments or €694 m with investments - Drop of MTM of buildings of 27 % ** Based on bank covenant of max. 60 %. Based on legal max. of 65 %, headroom is respectively €366
Slide 56: Credit facilities
Credit facilities (As of 30 June 2018) Maturity Amount Utilisation (€m) 2018/2019 38 18 2019/2020 80 80 2020/2021 90 90 2021/2022 171 122 2022/2023 195 90 2023/2024 185 74 2024/2025 and subsequent : 455 268 Total 1,215 742 Weighted Average Maturity (years) 5.1 4.9 Hedging policy - Hedges for ≥ 60% →
Slide 57: Net asset value
Net asset value Net asset value per share (in €) 30 June 2018 30 June 2017 Var. Based on fair value of investment properties Net asset value after deduction of dividend 2016/2017 51.74 47.48 9% Effect of the changes in fair value of hedging instruments 1.95 1.89 Net asset value after deduction of di
Slide 58: Value potentially not reflected in the NAV
Value potentially not reflected in the NAV > Belgian REIT → highly regulated framework > Pure play healthcare REIT in Europe > Assessment: long term cash flows at interesting yields > Inflation-linked contracts > Pipeline: − Committed − Pre-let > Track record of successful investments > Track record
Slide 59: Dividend FY 2017/2018
Dividend FY 2017/2018 Dividend policy > DPS 2017/2018 proposal: €2.50 / share (gross) − 11% higher than PY and in line with guidance − Subject to AGM to be held on 23 October 2018 > Withholding tax: − General rule: 30 % − Reduced to 15 % for healthcare REITs -59-
Slide 60: EPRA
EPRA > Aedifica included in the EPRA indices > EPRA metrics: Key performance indicators according to the EPRA principles 30 June 2018 30 June 2017 EPRA Earnings* (in €/share) 3.25 3.15 EPRA NAV* (in €/share) 54.02 49.55 EPRA NNNAV* (in €/share) 51.36 47.01 EPRA Net Initial Yield (NIY) (in %) 5.2% 5.
Slide 61: Shares & shareholders
Shares & shareholders Villa Temporis Hasselt - Belgium -61-
Slide 62: Dividend track record
Dividend track record ** * 2018/2019 budgeted dividend (see section 11 of the Board of Directors’ Report included in the 2017/2018 Annual Financial Report). ** Board of Directors’ proposal, subject to AGM -62-
Slide 63: Share price since IPO
Share price since IPO (As of 31 August 2018) Spot Var. (%) Aedifica 81.90 136 BEL MID 5,241.94 42 EPRA Belgium 1,439.55 2 EPRA Europe 2,262.13 -15 Aedifica: based on the IPO price (€41), adjusted to take into account the rights issues of 2010 (- €1.89), 2012 (- €1.93), 2015 (- €0.89) and 2017 (- €1,
Slide 64: Total return since IPO
Total return since IPO (As of 31 August 2018) Var. (%) Aedifica total return* 122 251 EPRA Belgium total return 4,581 112 EPRA Europe total return 4,685 37 * Aedifica: based on the IPO price (€41), adjusted to take into account the rights issues of 2010 (- €1.89), ), 2012 (- €1.93), 2015 (- €0.89) a
Slide 65: Shareholding
Shareholding1 (As of 30 June 2018) > Aedifica shareholders holding more than 5 % of the Company’s capital: SHAREHOLDERS Share in capital (in %) BlackRock, Inc. 5.09 Others < 5 % 94.91 Total 100.00 > Aedifica’s free float amounts to 100 %2. 1 A total of 18,200,829 shares are listed on Euronext Brusse
Slide 66: Rankings
Rankings > The highest free float of all Belgian REITs > 3th largest market cap amongst all Belgian REITs1 > Aedifica received the ‘Investor of the Year 2018’ award in Germany 2 > In 2017, Aedifica was the most active private investor in Dutch healthcare real estate3 1 Based on the 31 August 2018 “W
Slide 67: Awards
Awards EPRA “EPRA Reporting: Best Practices Recommendations” (BPR) > Annual Report 2012/2013 (1st implementation of BPR) > Annual Report 2013/2014 > Annual Report 2014/2015 > Annual Report 2015/2016 > Annual Report 2016/2017 -67-
Slide 68: Corporate governance
Corporate governance > Transparency > Board of Directors − NV/SA − 9 Directors − Management in the box ̶ 8 non-executive Directors of which 6 independent − Belgian Code 2009 on ̶ 1 executive Director Corporate Governance ̶ Gender diversity ratio: 44 % − 100% free float − Audit Committee − No poison
Slide 69: Management team
Management team > Management committee − CIO and CM&AO added on 1 October 2017 − New CFO joined the team on 1 September 2018 Name Function Stefaan Gielens Chief Executive Officer (CEO) Laurence Gacoin Chief Operating Officer (COO) Sarah Everaert Chief Legal Officer (CLO) / Secretary-General Charles-
Slide 70: Outlook
Outlook Seniorenheim am Dom Halberstadt - Germany -70-
Slide 71: Outlook FY 2018/2019: Focus on investments
Outlook FY 2018/2019 > Focus on investments − New investments in healthcare real estate: ̶ Targets being studied in The Netherlands, Germany and Belgium ̶ New investments announced since 1 July 2018: €23 million ̶ New investments (cash flow generating) est. in B2019: €150 million − Objective for fut
Slide 72: Outlook FY 2018/2019: Focus on development pipeline
Outlook FY 2018/2019 > Focus on development pipeline − Development pipeline: ̶ Pipeline at record level of €459 million (as of 30 June 2018) ̶ Deliveries in B2019: Land reserve €2m 0% 2018/2019 2021/2022 (IP) €65m €33m 7% 2018/2019 14% €73m 16% 2020/2021 €101m 22% 2019/2020 €185m 41% -72-
Slide 73: Outlook FY 2018/2019: Focus on Immobe
Outlook FY 2018/2019 > Focus on Immobe (“apartment buildings” branch) − Contribution in kind of the “apartments buildings” branch in Immobe: ̶ Q1 2018/2019 − Sale of 50 % (-1 share) of the Immobe shares to a strategic partner: ̶ Q2 2018/2019 (est.) − Sale of extra 25 % of the Immobe shares to a stra
Slide 74: Outlook FY 2018/2019: Budget
Outlook FY 2018/2019 > Budgeted rental income: €104 m > Budgeted EPRA Earnings: €63 m > Budgeted EPRA EPS: €3.45/share > Budgeted DPS: € 2.80/share (gross), 12% higher than PY -74-
Slide 75: Outlook FY 2018/2019: Sound balance sheet
Outlook FY 2018/2019 > Maintaining sound balance sheet − Debt-to-assets ratio: ̶ Target: 50% - 55% ̶ B2019: approaching 50% − Equity: ̶ “All options are open” ̶ But timing and means depend on investment pace -75-
Slide 76: Conclusion
Conclusion Residentie Poortvelden Aarschot - Belgium -76-
Slide 77: Investment highlights
Investment highlights Attractiveness for shareholders: > Pure-play healthcare REIT in Europe > Strong underlying demographic trends > Long-term growth potential > Fair value history of portfolio showing resilience > Weighted average lease term: 20 years > Solid investment, equity and debt-financing
Slide 78: Aedifica - housing with care
sedifica | housing with care
Slide 79: Stefaan Gielens, Ingrid Daerden
Stefaan Gielens – Chief Executive Officer Ingrid Daerden – Chief Financial Officer Het Gouden Hart Kampen - The Netherlands -79-
Slide 80: 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.aedifi
Slide 81: 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 82: Appendix
Appendix AGO Herkenrath Bergisch Gladbach - Germany -82-
Slide 83: Belgian REIT
Belgian REIT > “sicafi / vastgoedbevak” until 17 October 2014 > RREC (SIR / GVV) since 17 October 2014 > Investment property: maximum 20 % in one (group of) asset(s) > Appraisal: − At fair value on a quarterly basis by a valuation expert − No depreciation of properties > Dividend: at least 80 % of c
Slide 84: Milestones
Milestones > Nov. 2005: Creation of Aedifica > Dec. 2005: Filed as Vastgoedbevak/Sicafi + 1st acquisitions > Oct. 2006: IPO > Oct. 2010: 1st SPO > Dec. 2012: 2nd SPO > Oct. 2014: SIR/GVV > June 2015: 3rd SPO > March 2017: 4th SPO -84-
Slide 85: Number of shares
Number of shares Number of shares 30 June 2018 30 June 2017 Number of shares outstanding* 18,200,829 17,975,820 Total number of shares 18,200,829 17,975,820 Total number of shares on the stock market*** 18,200,829 17,975,820 Weighted average number of shares outstanding (IAS 33) 17,990,607 15,235,69
Slide 86: Main tenants (1)
Main tenants (1) Segment Country Group controlling the legal Tenants Number of 30/06/2018 30/06/2017 entities in contractual relation sites with Aedifica SENIOR HOUSING 135 85% 82% Belgium 73 54% 57% Armonea 19 15% 17% Armonea SA 8 7% 8% Restel Flats SPRL 1 1% 1% LDC De Wimilingen ASBL 1 0% 0% Happy
Slide 87: Main tenants (2)
Main tenants (2) Segment Country Group controlling the legal Tenants Number of 30/06/2018 30/06/2017 entities in contractual relation sites with Aedifica SENIOR HOUSING 135 85% 82% Belgium 73 54% 57% Orpea 9 7% 8% Château Chenois Gestion SPRL 3 2% 2% New Philip SA 3 2% 2% Parc Palace SA 1 1% 1% Prog
Slide 88: Main tenants (3)
Main tenants (3) Segment Country Group controlling the legal Tenants Number of 30/06/2018 30/06/2017 entities in contractual relation sites with Aedifica SENIOR HOUSING 135 85% 82% Germany 30 18% 16% Armonea 1 1% 0% Deutsche Pflege und Wohnstift GmbH 1 1% 0% Orpea 5 3% 4% Senioren Wohnpark Weser Gmb
Slide 89: Main tenants (4)
Main tenants (4) Segment Country Group controlling the legal Tenants Number of 30/06/2018 30/06/2017 entities in contractual relation sites with Aedifica SENIOR HOUSING 135 85% 82% Germany 30 18% 16% Vitanas 5 4% 4% Vitanas GmbH & Co. KGaA 5 4% 4% EMVIA Beteiligungs GmbH 1 1% 1% Residenz Zehlendorf
Slide 90: Main tenants (5)
Main tenants (5) Segment Country Group controlling the legal Tenants Number of 30/06/2018 30/06/2017 entities in contractual relation sites with Aedifica SENIOR HOUSING 135 85% 82% The Netherlands 32 13% 10% Compartijn 6 1% 0% Compartijn Exploitatie BV 6 1% 0% Domus Magnus 4 2% 2% Panta Rhei V BV 1
Slide 91: Main tenants (6)
Main tenants (6) Segment Country Group controlling the legal Tenants Number of 30/06/2018 30/06/2017 entities in contractual relation sites with Aedifica SENIOR HOUSING 135 85% 82% The Netherlands 32 13% 10% Martha Flora 6 2% 0% Martha Flora Lochem BV 1 0% 0% Martha Flora Hilversum BV 1 1% 0% Bronov
Slide 92: Main tenants (5)
Main tenants (5) Segment Country Group controlling the legal Tenants Number of 30/06/2018 30/06/2017 entities in contractual relation sites with Aedifica HOTELS AND OTHER 8 4% 5% Belgium 8 4% 5% Martin's Hotels 2 3% 4% Martin's Brugge SA 1 2% 2% Martin's Hotel SA 1 1% 2% Different Hotel Group 4 1% 1
Slide 93: Investments in 2017/2018 (1)
Investments in 2017/2018 (1) © Peters & Lammerink Architecten 19 July 2017 Co-operation agreement for the construction of two senior housing sites in Leeuwarden and Heerenveen (Province of Friesland, The Netherlands) • €40 m to be invested • 260 units Aldlânstate © ARCOM Partners BV 10 July 2017 Agr
Slide 94: Investments in 2017/2018 (2)
Investments in 2017/2018 (2) 17 August 2017 Co-operation agreement for the construction of 17 rest homes in Germany • €200 m total investment • 1,500 units Project in Lower Saxony 24 August 2017 24 August 2017 Acquisition of a care Completion of a care residence in Zeist residence in Deventer (Provi
Slide 95: Investments in 2017/2018 (3)
Investments in 2017/2018 (3) 11 September 2017 Acquisition of a rest 12 September 2017 Acquisition of a care home in Dessau-Rosslau residence in The Hague (State of Saxony-Anhalt, (Province of South Holland, Germany) The Netherlands) • €6 m invested amount • €8.5 m invested amount • 88 units • 28 un
Slide 96: Investments in 2017/2018 (4)
Investments in 2017/2018 (4) 8 December 2017 Acquisition of a portfolio of 3 senior housing sites in Germany • €27.5 m invested amount • 186 units Bremerhaven I Bremerhaven II Cuxhaven © Kolpa Architecten 8 November 2017 Agreement for the construction of a care residence in Bosch en Duin (Province o
Slide 97: Investments in 2017/2018 (5)
Investments in 2017/2018 (5) © BVR Groep BV 9 January 2018 Agreement for the construction of a care 15 February 2018 residence in Roosendaal Acquisition of a senior (Province of North Brabant, housing site in Zschopau The Netherlands) (State of Saxony, Germany) • €1 m invested amount • €9 m invested
Slide 98: Investments in 2017/2018 (6)
Investments in 2017/2018 (6) © H-Kwadraat Architectuur 27 February 2018 16 March 2018 Agreement for the Agreement for the construction of a care construction of a care residence in Eersel residence in Tilburg (Province of North Brabant, (Province of North Brabant, The Netherlands) The Netherlands) •
Slide 99: Investments in 2017/2018 (9)
Investments in 2017/2018 (9) 30 March 2018 24 April 2018 Extension of a rest home Completion of a care in Chênée completed residence in Leersum (Province of Liège, (Province of Utrecht, The Belgium) Netherlands) • €7 m invested amount • €6 m invested amount • 137 units in total • 26 units Résidence
Slide 100: Investments in 2017/2018 (10)
Investments in 2017/2018 (10) 3 May 2018 5 June 2017 Acquisition of a residential care Extension of the co-operation facility in Wald-Michelbach agreement with Specht (State of Hesse, Germany) Gruppe, with the construction • €3 m invested amount of apartments and houses for • 32 units in total senio
Slide 101: Investments in 2017/2018 (11)
Investments in 2017/2018 (11) 7 June 2018 Acquisition of 2 healthcare sites in The Netherlands • €16 m invested amount • 107 units Zorghuis Smakt Zorgresidentie Mariëndaal 26 June 2018 Agreement for the acquisition of a senior housing site in Bitterfeld- Wolfen (Germany) • €10 m invested amount • 12
Slide 102: Investments in 2018/2019
Investments in 2018/2019 12 July 2018 Agreement for the acquisition of 4 healthcare sites in Germany • €19 m invested amount • 221 units in total 19 July 2018 Agreement for the construction of a care residence in Berkel- Enschot (The Netherlands) • €1 m invested amount • €3 m to be invested • 22 uni
Slide 103: Notes
fre ; Notes aecifica |' housing with care -103-
Slide 104: Notes
fre ; Notes aecifica |' housing with care -104-