Slide 1: 1st quarter results 2021
1st quarter results 2021 Brussels, 12 May 2021 -1-
Slide 2: Table of contents
Table of contents > Highlights Q1 2021 > Strategy > Achievements > Portfolio analysis > Financials > Shares & shareholders > Outlook > Conclusion -2-
Slide 3: Highlights Q1 2021
Highlights Q1 2021 Wolfsbos Hoogeveen – The Netherlands -3-
Slide 4: Highlights Q1 2021 (1)
Highlights Q1 2021 (1) > EPRA Earnings: €32.2 million, +29% YoY > Rental income: €53.4 million, +18% YoY > Real estate portfolio of €4 billion, +6% (+ € 220m) compared to the end of the previous financial year (31/12/2020) > Pipeline of €756 million in construction and renovation projects and €280 m
Slide 5: Highlights Q1 2021 (2)
Highlights Q1 2021 (2) > 511 healthcare sites comprising ~ 38,000 users across 7 countries − €1,160 million in Belgium (82 sites) − €739 million in the United Kingdom (101 sites) − €667 million in Germany (75 sites) − €745 million in Finland (177 sites) − €534 million in the Netherlands (70 sites) −
Slide 6: Investment activity: new acquisitions (1)
Investment activity New acquisitions (1) 41 healthcare sites (~ €425 million) added or announced during Q1 2021 €26 million €84 million €19 million €51 million €245 million -6-
Slide 7: Investment activity: new acquisitions (2)
Investment activity New acquisitions (2) 41 healthcare sites (~ €425 million) added or announced during Q1 Name Type Location Date Investment Pipeline Gross Completion/ Lease Operator (€ million) 1 (€ million) 2 rental yield implementation (approx. %) Germany - 245 Azurit portfolio (19 sites) Acquis
Slide 8: Investment activity: pipeline completions
Investment activity Pipeline completions 9 projects (~ €56 million) completed during Q1 Name Type Location Date Investment Gross Lease Operator (€ million) 1 rental yield (approx. %) Belgium 3 Kasteelhof Extension Dendermonde 01/01/2021 3 5.5% 30 yrs - NNN Senior Living Group 2 Germany 25 Seniorenqu
Slide 9: Portfolio outlook
Portfolio outlook Total portfolio outlook: €4.9 billion (As of 11 May 2021) €m 5.000 +1,036 4,904 4.500 4.000 3,890 -22 3.500 3.000 2.500 2.000 1.500 1.000 500 0 Marketable investment properties1 Assets classified as held for sale Committed investments in pipeline Portfolio outlook (31/03/2021) (31/
Slide 10: Strategy
Strategy Seniorenheim am Dom Halberstadt - Germany -10-
Slide 11: Aedifica
Aedifica > Belgian REIT (RREC/SIR/GVV) − Market cap ~ €3.4 billion − Free float of 100% − Marketable investment properties ~ €3.8 billion − Pipeline ~ €1,036 million (projects & acquisitions subject to outstanding conditions) − WAULT ~ 19 years > Pure-play healthcare player > Market reference in Eur
Slide 12: Exploring European markets
Aedifica Exploring European markets > Track record of entering new markets & rapidly creating a platform for future growth 2019 – United Kingdom 1st investment in Feb 2019: €503m Current portfolio: €739m (101 assets) Committed pipeline: €85m 2013 – Germany 2021 – Ireland 1st investment in June 2013:
Slide 13: Demographic evolution
Demographic evolution Ageing in Belgium Ageing in Germany 40% 40% 35% 35% 30% 65 + 30% 65 + 25% 70 + 25% 70 + 20% 20% 75 + 75 + 15% 15% 10% 80 + 10% 80 + 5% 85 + 5% 85 + 0% 0% 2015 2020 2030 2040 2050 2060 2070 2015 2020 2030 2040 2050 2060 2070 Source: Belgian Federal Planning Bureau, 2021 Source:
Slide 14: Demographic evolution
Demographic evolution Ageing in Finland Ageing in Sweden 40% 40% 35% 35% 30% 65 + 30% 65 + 25% 70 + 25% 70 + 20% 20% 75 + 75 + 15% 15% 80 + 80 + 10% 10% 85 + 85 + 5% 5% 0% 0% 2015 2020 2030 2040 2050 2060 2070 2015 2020 2030 2040 2050 2060 2070 Source: Population projection, Statistics Finland Sourc
Slide 15: Achievements
Achievements De Kaap Hoogeveen - Netherlands -15-
Slide 16: Investment properties evolution since 2006
Achievements Investment properties1 Evolution since 2006 €m 4.904 5.000 4.500 4.035 4.000 3.815 3.500 CAGR: 28 % (as of 31 March 2021) 3.000 2.500 2.321 2.000 1.741 1.545 1.500 1.157 1.005 1.000 785 593 643 435 518 500 347 356 111 252 0 June June June June June June June June June June June June Jun
Slide 17: Focus on Europe: geographical breakdown
Achievements Focus on Europe Geographical breakdown (fair value)1 100% 1 1 5 2 1 1 1 12 9 13 15 12 18 18 17 14 80% 17 23 14 14 13 60% 17 17 19 17 100 95 88 86 40% 77 18 17 28 70 20% 45 32 30 24 0% Belgium Germany United Kingdom Netherlands Finland Sweden Ireland 1 Marketable investment properties in
Slide 18: Portfolio analysis
Portfolio analysis Children day-care centre Oulu - Finland -18-
Slide 19: Healthcare real estate: focus on housing for seniors
Healthcare real estate Focus on housing for seniors (As of 31 March 2021) > Healthcare segment breakdown Elderly care homes 6% 7% Senior housing 14% Mixed-use elderly care buildings 5% Children day-care centres 68% Other Marketable investment properties incl. assets classified as held for sale (€3,8
Slide 20: Portfolio: geographical breakdown
Portfolio (As of 31 March 2021) > Geographical breakdown 1% 1% Belgium 18% Germany 30% Netherlands United Kingdom Finland Sweden 19% Ireland 17% 14% Marketable investment properties incl. assets classified as held for sale (€3,835 m), excl. rights of use of plots of land. -20-
Slide 21: Belgian healthcare portfolio
Belgian healthcare portfolio (As of 31 March 2021) > Senior housing portfolio of 82 assets: − Capacity for approx. 8,400 residents − Total fair value of approx. €1,160 m − Yield on fair value of 5.3% − Inflation-linked triple net long leases − 17 tenant groups: Senior Living Group (Korian), Armonea
Slide 22: Belgian healthcare portfolio map
Belgian healthcare portfolio (As of 12 May 2021) Marketable investment properties Development projects -22-
Slide 23: Belgian healthcare portfolio
Belgian healthcare portfolio Residentie Sporenpark, Residentie Kartuizehof, Beringen Lierde • 127 units • 128 units Leopoldspark, Hof van Schoten, Leopoldsburg Schoten • 150 units • 101 units -23-
Slide 24: German healthcare portfolio
German healthcare portfolio (As of 31 March 2021) > Senior housing portfolio of 75 assets: − Capacity for more than 6,100 residents − Total fair value of approx. €667 m − Yield on fair value of 5.5% − Double net long leases inflation-linked with threshold − 20 tenant groups: Vitanas, EMVIA, Residenz
Slide 25: German healthcare portfolio map
German healthcare portfolio (As of 12 May 2021) Marketable investment properties Development projects -25-
Slide 26: German healthcare portfolio
German healthcare portfolio Seniorenquartier Seniorenzentrum Lübbecke, Alte Zwirnerei, Lübbecke Gersdorf • 80 units • 104 units Am Tierpark, Haus Steinbachhof, Berlin Chemnitz • 217 units • 151 units -26-
Slide 27: Dutch healthcare portfolio
Dutch healthcare portfolio (As of 31 March 2021) > Senior housing portfolio of 70 assets: − Capacity for more than 2,700 residents − Total fair value of approx. €534 m − Yield on fair value of 5.7% − Inflation-linked mostly triple net long leases − 17 tenant groups: Senior Living BV (Korian), Sticht
Slide 28: Dutch healthcare portfolio map
Dutch healthcare portfolio (As of 12 May 2021) Marketable investment properties Development projects -28-
Slide 29: Dutch healthcare portfolio
Dutch healthcare portfolio OZC Orion, De Statenhof, Leiderdorp Leiden • school for children • 79 units with behavioural problems Huize De De Vecht, Compagnie, Hoogeveen Ede • 79 units • 42 units -29-
Slide 30: UK healthcare portfolio
UK healthcare portfolio (As of 31 March 2021) > Senior housing portfolio of 101 assets: − Capacity for more than 6,300 residents − Total fair value of approx. €739 m − Yield on fair value of 6.6% − Inflation-linked triple net long leases − 15 tenant groups: Maria Mallaband Care Group, Bondcare Group
Slide 31: UK healthcare portfolio map
UK healthcare portfolio (As of 12 May 2021) Marketable investment properties Development projects -31-
Slide 32: UK healthcare portfolio
UK healthcare portfolio Richmond Manor, Minster Grange, Ampthill York • 69 units • 83 units Abbot Care Home, Harlow Abbots Wood • 117 units Manor, Hailsham • 60 units -32-
Slide 33: Finnish healthcare portfolio
Finnish healthcare portfolio (As of 31 March 2021) > Healthcare portfolio of 177 assets: − Capacity for more than 11,900 users − Total fair value of approx. €690 m − Yield on fair value of 5.6% − Inflation-linked double net leases − 35 tenant groups: Attendo, Norlandia, Mehilainen, Pilke, Touhula &
Slide 34: Finnish healthcare portfolio map
Finnish healthcare portfolio (As of 12 May 2021) Marketable investment properties Development projects -34-
Slide 35: Finnish healthcare portfolio
Finnish healthcare portfolio Children day-care Children day-care centre, Oulu centre, Espoo • 120 units • 120 units Elderly care home, Elderly care home, Oulu Kempele • 60 units • 19 units -35-
Slide 36: Swedish healthcare portfolio
Swedish healthcare portfolio (As of 31 March 2021) > Healthcare portfolio of 5 assets: − Capacity for approx. 400 users − Total fair value of approx. €19 m − Yield on fair value of 5.8% − Inflation-linked double net leases − 4 tenant groups: British mini, Team Olivia, Kunskapsförskolan & Alternatus
Slide 37: Swedish healthcare portfolio map
Swedish healthcare portfolio (As of 12 May 2021) Marketable investment properties Development projects -37-
Slide 38: Swedish healthcare portfolio
Swedish healthcare portfolio LSS-boende Heby, LSS-boende Gråmunke , Heby Uppsala • Completed in • Completed in April 2020 March 2020 • 6 units • 6 units Eskilstuna Mesta, Källberga, Nynashamn Eskilstuna • Preschool • Preschool • Under development • Completed in August 2020 -38-
Slide 39: Irish healthcare portfolio
Irish healthcare portfolio (As of 31 March 2021) > Senior housing portfolio of 1 asset: − Capacity for 184 persons − Investment: approx. €26 m − Yield on fair value of 5.5% − Inflation-linked triple net lease − Operator: Virtue (Emera group) − Opportunities for further development − Portfolio outloo
Slide 40: Irish healthcare portfolio map
Irish healthcare portfolio (As of 12 May 2021) Marketable investment properties Assets acquisition subject to outstanding conditions -40-
Slide 41: Irish healthcare portfolio
Irish healthcare portfolio Killerig care home, Killerig • 45 units Bunclody care home, Bunclody • 62 units Waterford care home, Waterford • 64 units Brídhaven, Mallow • 184 units -41-
Slide 42: Healthcare real estate tenants
Healthcare real estate tenants Tenant diversification1 > 511 sites with approx. 210 tenants (or >100 ‘groups’)2 representing European, national and local profit and not-for-profit operators > No ‘operator group’ leases more than 15% of Aedifica’s consolidated assets 12% 8% 47% 6% 5% 4% 4% 4% 3% 3% 4
Slide 43: Operators' funding
Operators’ funding Main takeaways > Belgium, The Netherlands, Germany & Ireland: − Care costs (staff) are covered by social security − Accomodation costs (housing, catering, other non-medical services) are in principle covered by the resident * > UK: − Self-payers market and Local Authorities for pe
Slide 44: Lease maturity & occupancy rate
Lease maturity & occupancy rate (As of 31 March 2021) Unexpired lease term Weighted average unexpired lease term 19 years 26% Occupancy rate 100 % 74% < 15 years ≥ 15 years 92% Marketable investment properties incl. assets classified as held for sale (€3,835 m), excl. rights of use of plots of land.
Slide 45: WAULT by country
WAULT by country 30 25 25 20 21 22 22 Avg 19 years 18 15 16 10 12 5 0 Belgium Germany The Netherlands The United Kingdom Finland Sweden Ireland -45-
Slide 46: Age of buildings
Age of buildings (As of 31 March 2021) 5% 7% 0-10 years 10-20 years 20% >20 years Project 68% Marketable investment properties incl. assets classified as held for sale (€3,835 m), excl. rights of use of plots of land. -46-
Slide 47: Gross yields on fair value
Gross yields on fair value (As of 31 March 2021) 7 6.6 6 Avg 5.7 5.7 5.8 5.5 5.6 5.5 5 5.3 4 3 2 1 0 Belgium Germany Netherlands United Kingdom Finland Sweden Ireland -47-
Slide 48: Prime yields
Prime yields Belgium Germany Netherlands United Kingdom Finland Sweden Ireland 3.5% 3,5 4.0% 4 4.5% 4,5 5.0% 5 5.5% 5,5 6.0% 6 6,5 Source: Cushman & Wakefield, CBRE, Jones Lang LaSalle -48-
Slide 49: Portfolio growth: investment programme (1)
Portfolio growth Investment programme as of 31 March 2021 (1) Projects and renovations Operator Current Invest. as of Future (in € million) 1 budget 31/03/2021 invest. Projects in progress 478 133 343 Completion 2021 239 116 121 BE 9 6 3 De Duinpieper Dorian groep 3 3 0 Sorgvliet Senior Living Group
Slide 50: Portfolio growth: investment programme (2)
Portfolio growth Investment programme as of 31 March 2021 (2) Projects and renovations Operator Current Invest. as of Future (in € million) 1 budget 31/03/2021 invest. Projects in progress 478 133 343 Completion 2021 239 116 121 Completion 2022 198 16 182 BE 6 1 5 Residentie 't Spelthof Vulpia 6 1 5
Slide 51: Portfolio growth: investment programme (3)
Portfolio growth Investment programme as of 31 March 2021 (3) Projects and renovations Operator Current Invest. as of Future (in € million) 1 budget 31/03/2021 invest. Projects in progress 478 133 343 Completion 2021 239 116 121 Completion 2022 198 16 182 Completion 2023 30 1 29 DE 20 0 20 Seniorenq
Slide 52: Portfolio growth: investment programme (4)
Portfolio growth Investment programme as of 31 March 2021 (4) Projects and renovations Operator Current Invest. as of Future (in € million) 1 budget 31/03/2021 invest. Projects in progress 478 133 343 Completion 2021 239 116 121 Completion 2022 198 16 182 Completion 2023 30 1 29 Completion 2024 11 0
Slide 53: Portfolio growth: investment programme (5)
Portfolio growth Investment programme as of 31 March 2021 (5) > Investment programme: €1,036 million Geographical split Expected delivery date €27m €17m €2m €5m 3% 2% 0% 0% €141m €127m 2021 Belgium 14% 12% €42m €85m Germany 4% 2022 8% Netherlands €544m 2023 €91m United Kingdom 52% €308m 9% €684m 202
Slide 54: Portfolio growth: development projects
Portfolio growth Development projects Lohjan Nieuw Asuntomessut (FI) Heerenhaage – Construction start: Heerenveen (NL) 2020 Construction start: Expected completion: Q3 2018 2021 Expected completion: Q2 2021 Specht phase 3 – Kaemenas Hof (DE) Villa Casimir – Construction start: Roermond (NL) Q4 2019
Slide 55: Financials
Financials Vaasan Uusmetsäntie Vaasa - Finland -55-
Slide 56: Income Statement: EPRA Earnings
Income Statement EPRA Earnings Consolidated Income Statement - analytical scheme 31/03/2021 31/03/2020 Var. (x €1,000) (3 months) (3 months - restated) Rental income 53,351 45,212 +18% Rental-related charges 35 -1,127 Net rental income 53,386 44,085 +21% Operating charges -10,722 -8,889 Operating re
Slide 57: Income Statement: Net result
Income Statement Net result Consolidated Income Statement - analytical scheme 31/03/2021 31/03/2020 (x €1,000) (3 months) (3 months - restated) EPRA Earnings 32,201 24,988 Changes in fair value of financial assets and liabilities 4,880 -3,193 Changes in fair value of investment properties 11,526 -7,
Slide 58: Rental income
Rental income (As of 31 March 2021) 60.000 +0,2 M 53,4 M +3,5 M +1,5 M +0,9 M 50.000 +1,1 M +0,7 M 45,2 M 40.000 x €1,000 30.000 20.000 10.000 0 Rental Belgium Germany The United Finland Sweden Ireland Rental income Netherlands Kingdom income 2020.01- 2021.01- 2020.03 2021.03 Change: +7.8 % +8.6 % +
Slide 59: Consolidated balance sheet (€ m)
Consolidated balance sheet (€ m) Balance sheet total: €4,3 billion (As of 31 March 2021) Assets Equity & Liabilities 2,251 2,173 4,035 3,815 1,917 1,758 252 276 137 143 December March 2021 December March 2021 2020 2020 -59-
Slide 60: Debt-to-assets ratio
Debt-to-assets ratio 56% 56% 50% 50% 44% 43% 45% 41% 37% June 2017 June 2018 March 2019 June 2019 March 2020 June 2020 Oct 2020 Dec. 2020 March 2021 Before After Before SPO After SPO Before SPO After SPO SPO 2019 SPO 2019 April 2020 April 2020 Oct. 2020 Oct. 2020 > Investment capacity: approx. €1.7
Slide 61: Debt-to-assets ratio
Debt-to-assets ratio €207m 70% ABB 4.500 €219m €418m 4.000 60% €67m €153m rights issue rights issue rights issue €100m rights issue rights issue 3.500 50% 3.000 40% 2.500 €459m 30% rights issue 2.000 1.500 20% 1.000 10% 500 0% 0 Debt-to-assets ratio (%) Fair value portfolio (million €) > Over the pa
Slide 62: Credit facilities
Credit facilities Total financial debt: €1,815 m (As of 31 March 2021) Investment credits 16% 15% 67% bank Term loans facilities 5% Revolving loans 12% 22% USPP GBP Medium Term Note 33% DCM 30% Commercial Paper > New financing during Q1 2021: − £180 million US PP on 7 years and 12 years − €180 milli
Slide 63: Credit facilities: liquidity and debt maturity profile
Credit facilities (as of 31 March 2021) > Liquidity > Debt maturity profile Financial debt Lines Utilisation of which 600 (in € million)1 treasury 500 notes 31/12/2021 456 431 287 400 31/12/2022 128 58 7 300 31/12/2023 284 134 - 31/12/2024 446 317 - 200 31/12/2025 557 302 - 100 31/12/2026 100 48 - >
Slide 64: Net asset value
Net asset value Net asset value per share (in €) 31/03/2021 31/12/2020 Net asset value after deduction of the 2019/2020 interim dividend, excl. changes in 69.27 67.17 fair value of hedging instruments* Effect of the changes in fair value of hedging instruments -1.32 -1.58 Net asset value after deduc
Slide 65: Dividend Policy
Dividend Policy > DPS 2019/2020 (01/07/19 – 31/12/20): €4.60 / share (gross) − Financial year extended by 6 months until 31 Dec. 2020 − Interim dividend for the first 12 months: €3.00 gross / share ̶ Coupon No. 23 (€2.48; detached on 24 April 2020) + coupon No. 24 (€0.52; detached on 5 October 2020)
Slide 66: EPRA key performance indicators
EPRA > Aedifica included in the EPRA indices > EPRA metrics: Key performance indicators according to the EPRA principles 31/03/2021 31/12/2020 (3 m onths) EPRA Earnings (in €/share) 0,97 1,02 EPRA NRV (in €/share) 78,63 75,43 EPRA NTA (in €/share) 66,60 64,34 EPRA NDV (in €/share) 62,69 60,13 EPRA N
Slide 67: Shares & shareholders
Shares & shareholders Martha Flora Bosch en Duin Bosch en Duin - Netherlands -67-
Slide 68: Dividend track record
Dividend track record € / share 4,40 4,20 4,00 3,80 3,60 3,40 3,20 3,07 * 3,30 3,00 2,80 2,80 2,50 2,60 2,40 2,25 2,10 2,20 2,00 1,86 1,86 1,90 2,00 1,80 1,82 1,82 1,71 1,80 1,60 1,48 1,40 Theoretic dilutions of DPS after rights issues of 1,20 October 2010, December 2012, June 2015, March 2017, May
Slide 69: Share price since IPO
Share price since IPO (As of 11 May 2021) 375 Spot Var. (%) 350 Aedifica 105,60 190 325 BEL20 4.044,54 -3 300 EPRA Belgium 1.792,60 27 275 250 EPRA Europe 2.277,95 -15 225 200 175 150 125 100 75 50 25 Aedifica BEL20 EPRA Belgium EPRA Europe Aedifica: based on the IPO price (€41), adjusted to take in
Slide 70: Total return since IPO
Total return since IPO 700 675 (As of 11 May 2021) 650 Return Var. (%) 625 Aedifica 190 423 600 575 550 EPRA Belgium 6.305 192 525 500 EPRA Europe 5.184 51 475 450 425 400 375 350 325 300 275 250 225 200 175 150 125 100 75 50 25 Aedifica total return Epra Belgium total return Epra Europe total retur
Slide 71: Shareholding
Shareholding1 (As of 31 March 2021) > Aedifica shareholders holding more than 5 % of the Company’s capital2: SHAREHOLDERS Share in capital (in %) BlackRock, Inc. 5.00 Others < 5 % 95.00 Total 100.00 > Aedifica’s free float amounts to 100%3. 1 A total of 33,086,572 shares are listed on Euronext Bruss
Slide 72: Awards: EPRA
Awards EPRA EPRA Reporting: Best Practices Recommendations (BPR) > From 2015 to 2020, Aedifica’s annual financial report was awarded 6 consecutive times the ‘EPRA BPR Gold Award’ > In 2020, Aedifica received the ‘EPRA sBPR Gold Award‘ for its 2019 Sustainability Report -72-
Slide 73: Euronext: Inclusion in the BEL 20
Euronext Inclusion in the BEL 20 > Aedifica is listed on Euronext Brussels (2006) and Euronext Amsterdam (2019). > In March 2020, Aedifica entered the BEL 20, the leading share index of Euronext Brussels. > The BEL 20 index comprises Belgian companies listed on Euronext Brussels that record the larg
Slide 74: Corporate governance
Corporate governance > Transparency > Board of Directors − NV/SA − 11 Directors ̶ 7 independent non-executive − Management in the box Directors − 100% free float ̶ 4 executive Directors ̶ Gender diversity ratio: 36 % − No poison pills − Audit Committee − Nomination & Remuneration Committee − Investm
Slide 75: Aedifica's Executive Committee
Aedifica’s Executive Committee Charles-Antoine van Aelst Stefaan Gielens Sven Bogaerts Chief Investment Officer Chief Executive Officer Chief Mergers & Acquisitions Officer Raoul Thomassen Ingrid Daerden Chief Operating Officer Chief Financial Officer -75-
Slide 76: Aedifica's international team
Aedifica’s international team > Local teams in 6 countries managing the portfolio and the group’s growth: Stéphanie Lomme Heinz Beekmann Eric Scheijgrond Team Belgium Team Germany Team Netherlands UK Portfolio manager Jussi Karjula Maria Frid Team Finland Team Sweden > International staff reaching a
Slide 77: Outlook
Outlook SARA Seniorenresidenz Bitterfeld-Wolfen - Germany -77-
Slide 78: Covid-19 impact
Covid-19 impact > Residential care portfolio (elderly & specialist care – approx. 93% of portfolio) > Occupancy drop (5-10%) due to temporary ‘excess mortality’ and admission stops during 2020’s spring lockdown in elderly care − Nevertheless, important differences between countries, regions, operato
Slide 79: Covid-19 impact
Covid-19 impact > Rollout vaccination programmes since December 2020 − Operators’ occupancy rates expected to start to recover gradually − Priority given to residents and staff of elderly care homes and to 65+ population in general > Currently no material negative impact on rent collection: care sec
Slide 80: Outlook FY 2021
Outlook FY 2021 > Budgeted rental income: €220 million > Budgeted EPRA Earnings: €137 million > Budgeted investments: €640 million − Pipeline deliveries in 2021 − €225 million of hypothetical cash flow generating investment (already identified and announced at the end of Q1) > Foreign exchange assum
Slide 81: Outlook FY 2021
Outlook FY 2021 > Expected debt-to-assets ratio (end 2021): approx. 50% > Budgeted EPRA EPS: €4.16/share, taking into account dilution after capital increases April 2020 and October 2020 > Budgeted DPS: €3.30/share (gross) -81-
Slide 82: Outlook beyond FY 2021
Outlook beyond FY 2021 > Objective for future growth: EPS growth through − Enhancing long-term cash flows in healthcare real estate − Exploring new healthcare real estate segments − Exploring new countries − Well-defined development activity > Continuing the track record € / share 7,0 6,5 6,0 5,5 5,
Slide 83: Conclusion
Conclusion The Hawthorns Southampton - United Kingdom -83-
Slide 84: 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: 19 years > Solid investment, equity and debt-financing
Slide 85: Stefaan Gielens and Ingrid Daerden
Stefaan Gielens – Chief Executive Officer Ingrid Daerden – Chief Financial Officer -85-
Slide 86: 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 87: 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 88: Appendix
Appendix Hof van Schoten Schoten - Belgium -88-
Slide 89: Portfolio growth: investment programme (1)
Portfolio growth Investment programme as of 31 March 2021 (1) Country Developm ent projects Rent Rent Developm ent projects 1 Rent Yield2 (in € m illion) (in € m illion) (in € m illion) (in € m illion) BE 17 1 Triple net 816 12 5.6% DE 684 33 Double net 218 42 5.2% NL 91 5 Land reserve 2 UK 85 5 Tot
Slide 90: Portfolio growth: investment programme (2)
Portfolio growth Investment programme as of 31 March 2021 (2) > Investment programme: €1,036 million €2m 0% Projects in progress €280m 27% Projects subject to €478m outstanding conditions 46% Acquisitions subject to outstanding conditions €276m 27% Land reserve -90-
Slide 91: Competitive markets
Aedifica Competitive markets > The World Economic Forum ranks all of the countries into which Aedifica expanded in its top 11 of Most Competitive Global Economies Rank Econom y Score 4 Netherlands 82.4 7 Germany 81.8 8 Sw eden 81.2 9 United Kingdom 81.2 11 Finland 80.2 22 Belgium 76.4 Source: World
Slide 92: 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 93: Sustainability: energy audit pilot project
Sustainability Energy audit pilot project > The goal is to create a solid approach for the development and management of energy-saving measures in our buildings: − Building’s energy system − Heating systems − Insulation − Lighting, etc. > Reduction targets: − 1,250,000 kWh energy use − Up to 30% ove
Slide 94: Innovative healthcare real estate
Innovative healthcare real estate Martha Flora Rotterdam > Specifically designed to offer safe & secure small-scale housing & care to persons with dementia > Focus on wellbeing & comfort > Meander: central space − Library − Living room − Kitchen − Workshop − Garden/roof terrace > 29 care units -94-
Slide 95: Innovative healthcare real estate
Innovative healthcare real estate Martha Flora Rotterdam > 100% green energy provided by 296 solar panels − providing sufficient energy for the thermal and hot water installation > Heat and cold storage installation − using 2 heat pumps and 125m deep sources to extract soil energy for heating and co
Slide 96: Notes
fre j Notes aecifica |' housing with care -96-