Slide 1: August 2016
August 2016
Slide 2: 1. Introduction to VGP
VGP 1. Introduction to VGP
Slide 3: Prior 2018
◼ ◼ ◼ ◼ ◼ ◼ ◼ Prior 2018 2018 2019 3
Slide 4: Portfolio as at 31 December 2018
◼ ◼ ◼ ◼ 1 Portfolio as at 31 December 2018; Including 100% of JV assets 4
Slide 5: Successful track record of geographic expansion and continued delivery across markets
Successful track record of geographic expansion and continued delivery across markets 1998 VGP founded in Czech Republic as a family- owned real estate developer BUILDING TOMORROW 2017 sn TODAY Fully-marketed secondary equity offering (reaching 37% free float) 2011 2015 Sale of Czech Expansion to as
Slide 6: Integrated business model across the value chain
◼ Identification of top ◼ In-house design of ◼ High quality logistics ◼ Mainly long term lease ◼ Long term developer / locations directly buildings based on projects constructed by agreements investor (own portfolio or connectable to existing strict guidelines for external constractors in sale to JV
Slide 7: Develop, Sale to Joint Venture, Hold
Develop ◼ ◼ ◼ Sale to Joint Venture Hold ◼ ◼ ◼ ◼ ◼ ◼ ◼ ◼ 7
Slide 8: Value creation crystallisation through strategic partnership with Allianz
Value creation crystallisation through strategic partnership with Allianz enabling capital recycling for all new projects ▪ Exclusive Right of First Refusal for the JV to acquire assets in Germany, Czech Republic, Hungary and Slovakia ▪ VGP to continue to service the portfolio as asset, property and
Slide 9: Proven track record of developing unique and high quality properties
Proven track record of developing unique and high quality properties across strategic locations with blue chip tenants VGP Park Frankenthal VGP Park Chomutov VGP Park Rodgau VGP Park Miinchen Germany Czech Republic Germany Germany Completed 2018 Completed 2017 Completed 2015 - 2016 Construction 2019
Slide 10: Proven track record of developing unique and high quality properties (cont'd)
Proven track record of developing unique and high quality properties across strategic locations with blue chip tenants (cont'd) VGP Park San Fernando VGP Park Ginsheim VGP Park Timisoara VGP Park Malacky Spain Germany Romania Slovakia Construction 2017-2020 Construction 2016-2017 Construction 2011-2
Slide 11: Portfolio tenant breakdown by sector
Other 5% Non-food retail 2% Logistics 29% Automotive-related 14% E-commerce 21% Light industrial 25% ◼ Wide variety of Logistics ◼ In-house design and ◼ Often high degree of ◼ Typically highly ◼ Wide variety of customers manufacturing of light complexity of operations automated and globally internat
Slide 12: 2. Operating performance
2. Operating performance fal G) “U
Slide 13: Portfolio growth by holder
3500 2,873 3000 7.3 2500 641 2,262 1,918 2000 5.6 641 4.7 1,610 641 4.0 1500 1,483 1,150 601 869 2.9 1000 1,333 2.2 601 831 593 500 601 1 749 549 416 446 268 288 0 2014 2015 2016 2017 2018 2019YTD 2014 2015 2016 2017 2018 2019YTD Own developed projects sold to 3rd parties Projects held by Joint Vent
Slide 14: Capital expenditure and divestments
2,500 2,500 2,000 2,000 1,500 1,500 1,360 878 1,000 1,000 645 1,355 1,206 500 947 500 677 628 677 550 576 416 416 - - 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 Capital expenditure €337.0m €261.0m €352.7m €950.7m Net cash inflow from €236.1m €155.7m €438.4m1 €830.2m divestments As of Dec 2018
Slide 15: Annualised Rent income
€140 250 Annualised Rent income - (€ million) €120 200 €100 Number of contracts 150 €80 €60 100 €40 50 €20 €- 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2 2019YTD Rolling rental income Increase in rental income Number of contracts ◼ Committed annualised leases increased to € 121.0 million as of
Slide 16: Well leased portfolio to a diversified and blue-chip customer base
Well leased portfolio to a diversified and blue-chip customer base Tenant concentration (JV at 100%) Committed lease maturity – own portfolio <1 year 1% Amazon 10.8% 1-2 years 1% Rhenus 7.7% 2-5 years 20% Drylock 3.5% >5 years 78% BMW 3.1% 4PX 2.9% Lekkerland 2.4% Lidl 2.3% DD 2.2% MMD 1.8% Committe
Slide 17: VGP Parks: Berlin, Jenec
◼ ◼ ◼ VGP Park Berlin, Germany VGP Park Jenec, Czech Republic VGP Park Berlin, Germany As of 30 April 2019 17
Slide 18: VGP Parks: Berlin, Timisoara, Nijmegen
◼ ◼ ◼ VGP Park Berlin, Germany ◼ VGP Park Timisoara, Romania VGP Park Nijmegen, The Netherlands As of 30 April 2019 18
Slide 19: Land bank
Land owned Deployed Acquired Secured Letters of Dec 2018 2019YTD 2019YTD intent 1 Geographical breakdown of development potential (m2) of the owned and secured land bank ◼ ◼ As of 30 April 2019 19
Slide 20: Location of land plots bought or secured in 2019
Location of land plots bought or secured in 2019 or land plots for which a Letter of Intent is signed as of 30 April 2019 20
Slide 21: Board of directors
Year Executive or Next due for Name Independent appointed non-executive re-election ◼ Renewed appointed: 2017 (next due for re-election 2021) Ann Gaeremynck ◼ Founder of Drylock Technologies in 2012 2019 Non-executive Independent 2023 (Chairman) ◼ Prior to this, CEO and Chairman of Ontex Bart Van 20
Slide 22: Corporate matrix organization with advanced management tools
Implemented a clear corporate matrix organization with advanced management tools Corporate matrix structure CEO VGP Management KPls-app Finance Manager 1---4 Planning & Technic Manager Project |_ [| Manager Purchasing Manager ‘Commercial Manager |_| Aftersales Manager Commercial Manager Facility Man
Slide 23: 3. Financial performance
3. Financial performance
Slide 24: Income statement highlights
◼ ◼ ◼ ◼ ◼ ◼ ◼ ◼ 1 Look-through basis includes VGP’s share of the JV net rental income 2 The (re)valuation of the own portfolio was based on the appraisal report of the property expert Jones Lang LaSalle 24
Slide 25: Operating EBITDA adjustments
◼ ◼ ◼ Please note the segment reporting disclosure in our FY2018 press release for overview of adjustments to operating EBITDA 25
Slide 26: Remaining development potential
Remaining development potential 4% Completed & under construction 96% Slovakia 6% Hungary 6% Czech Republic 28% Germany 60% 26
Slide 27: Balance sheet - assets
Balance sheet - assets = Investment Properties of €469 million, up €76 million YoY = Completed portfolio has decreased by €31 million to €121 million. = Under Construction has increased by €39 million to €134 million = Development land has increased by €68 million to €213 million = Investment in Joi
Slide 28: Net debt and leverage
◼ ◼ ◼ ◼ ◼ ◼ ◼ ◼ 1 Calculated as Net debt / Total equity and liabilities 28
Slide 29: 4. Outlook and Summary
4. Outlook and Summary
Slide 30: Summary and Outlook
Summary and Outlook = Record operating results and net profit for 2018: Transformation into truly Pan-European platform = Continued momentum into 2019 = Record new and renewed leases m= Strong expansion of the land bank = Successful 5‘ closing of €203 million with JV = Strong fundamental market driv
Slide 31: Disclaimer
Disclaimer ABOUT VGP VGP is a leading pan-European developer, manager and owner of high-quality logistics and semi-industrial real estate. VGP operates a fully integrated business model with capabilities and longstanding expertise across the value chain. The company has a well-advanced land bank of