Patrizia Se · XETR:PAT

Patrizia — Investor Presentation (March 2023)

46 slides from Patrizia's investor presentation, March 2023

Slide 2: Video presentation: FY 2022 Financial Results CFO
Video presentation FY 2022 Financial Results | CFO video presentation Access via weblink: http://bit.ly/3Z4ZKRX Access via QR code: PATRIZIA | © 2023 2
Slide 4: PATRIZIA at a glance
PATRIZIA PATRIZIA at a glance A leading partner for global real assets EBITDA (EUR): 39 Top 2 59bn 79m fully independent years of real asset Assets under Margin 24.0% investment manager for experience management (EUR) FY 2022 real estate in Europe1 Strong balance sheet Strong local presence: Fund pe
Slide 5: Transformation of PATRIZIA
PATRIZIA at a glance Transformation of PATRIZIA Evolution from a German residential real estate company to a global real asset investment manager 59.1bn 2022 PATRIZIA | A leading manager of global real assets adopts SE structure to drive sustainable future growth AUM 2021/2022 Whitehelm Capital, Adv
Slide 6: PATRIZIA Update 2022
PATRIZIA at a glance PATRIZIA Update 2022 Continuing our transformation to a global real asset investment manager M&A | Copenhagen Product | Tokyo Product | Amsterdam PATRIZIA acquires the multi-manager PATRIZIA secures a PATRIZIA launches Sustainable Advantage Investment Partners to EUR 1bn mandate
Slide 7: Global presence
PATRIZIA at a glance Global presence Local in Europe & connected globally > 500 28 PATRIZIA offices globally institutional clients to service clients & manage real assets locally > 7,000 private clients > 40 boutique operating partners worldwide > 30 geographies of clients from > 30 different nation
Slide 8: One-stop solutions provider in real assets
PATRIZIA at a glance One-stop solutions provider in real assets Direct & indirect investment opportunities allow our clients to achieve their individual portfolio objectives Market-leading Bespoke Single asset/portfolio Global Partner Multi strategy real assets funds account solutions deal opportuni
Slide 9: Our product offering and value contribution
PATRIZIA at a glance Our product offering and value contribution We can be active across the full real asset management value chain Fund Management Investment Investment Strategy (i.a. Portfolio management, Transactions Asset Development Solutions & Research Reporting) (Sourcing, Acq., Sales) Manage
Slide 10: Sample investments
PATRIZIA at a glance Exemplary investments in real estate and infrastructure Our local investment teams underwrite deals based on intimate market knowledge & conviction in sectors Sample investments Cavern storage facility (infrastructure) Prime French logistics portfolio Leading Danish outlet retai
Slide 11: IREI Global Investment Managers 2022
PATRIZIA at a glance IREI Global Investment Managers 2022 PATRIZIA ranks as Europe’s #2 fully independent investment manager in 2022 IREI Ranking 2012 to 2022 Top 10 Managers based on European real assets (EUR m), 2021 Swiss Life Asset Managers 1 insurance group subsidiary 2012 2013 2014 2015 2016 2
Slide 12: International and diverse Governance & Leadership
PATRIZIA at a glance PATRIZIA SE – International and diverse Governance & Leadership BOARD OF DIRECTORS + International, diverse, experienced & tech-savvy Board of Directors Uwe H. Wolfgang Jonathan Axel Marie Saba Philippe Reuter (Chair) Egger Feuer Hefer Lalleman Nazar Vimard Audit Committee Nomin
Slide 13: PATRIZIA Foundation
PATRIZIA at a glance Adding value for generations since 1999: PATRIZIA Foundation Our global impact • Around 300.000 supported children and young people Germany • 21 KinderHaus facilities in 12 countries on 4 continents Our Vision Our Promises 500,000 children Nepal India We believe that education i
Slide 15: PATRIZIA Equity Story
Equity Story PATRIZIA Equity Story Our elevator pitch | Six reasons to invest in PATRIZIA SE shares Focused and independent real Long-term dynamics support Our products offer solutions in asset investment manager demand for real asset investments line with megatrends • Real estate and infrastructure
Slide 16: AUM and fee growth driven by client demand
Equity Story PATRIZIA’s AUM and fee growth driven by client demand AUM growth directly translates into growing and strongly recurring management fees 60.0 - 59.1 65.0 60 50 47,0 48,6 +21.1 % p.a. 44,5 300 Management fee 41,0 40 growth 2012 – 2022 241.0 30 209,1 190,9 193,4 21,9 175,3 150 20 18,6 16,
Slide 17: Predictable management fees and diversified client base
Equity Story Predictable management fees and diversified client base 83% of our AUM have a maturity of more than 10 years Maturity breakdown of AUM1 Equity commitments by clients2 75% 61% 1% 5% 11% 47% 32% 22% 83% 8% >10 years/unlimited 5–10 years Top 1 Top 5 Top 10 Top 25 Top 50 Top 100 2–5 years <
Slide 18: Broad diversification in terms of sectors and geographies
Equity Story Broad diversification in terms of sectors and geographies driven by forward-thinking investment strategies of inhouse research and local teams on the ground EUR sqm 59.1assets under bn 17.3 real estate assets m 81 % resilient Core and management under management Core plus strategies 3%
Slide 19: Local footprint for direct real asset investments
Equity Story Local footprint for direct real asset investments With professionals and offices across Europe, PATRIZIA provides an unrivalled pan-European transaction & asset management platform ⚫ PATRIZIA offices 22% ◼ Markets with PATRIZIA activities Helsinki 39% Fund Management & Operations Asset
Slide 20: Long-term dynamics support demand for real asset investments
Equity Story Long-term dynamics support demand for real asset investments We are benefiting from the structural growth market for real asset investment management Increased life expectancy threatens conventional pension Growing retirement provisions systems and drives global retirement and pension p
Slide 21: Products offer solutions for real asset megatrends
Equity Story PATRIZIA’s products offer solutions for real asset megatrends We benefit from four global megatrends, despite short-term uncertainties Demographics Urbanisation Digitalisation Decarbonisation Building communities for growing Urban growth, appreciation and Customer demand for smart Deman
Slide 22: Infrastructure – Thematic investment strategies
Equity Story Infrastructure – Thematic investment strategies Aligned to the key macro trends driving infrastructure Thematic: Thematic: • Climate change impacts water scarcity and need for circular economy • Decarbonisation Decarbonisation Opportunities: and Energy Opportunities: • Smart metering Tr
Slide 23: Average European prime yields of main commercial sectors
Equity Story Average European prime yields of the main commercial sectors Prime yields across all sectors are rising following recent developments on the financial markets Office Retail Logistics Yield range European Prime Yield Yield range European Prime Yield Yield range European Prime Yield Long-
Slide 24: Real estate funds outperformed the market over the last decade
Equity Story PATRIZIA real estate funds outperformed the market over the last decade Consistent outperformance during different market phases - visible recovery across the market in 2021 PATRIZIA fund performance vs. INREV Index performance1 Total Return p.a. - rolling annual return by quarter over
Slide 25: A global client base
Equity Story A global client base Partnerships with a diverse mix of global clients foster our understanding of local requirements Client philosophy 17% • Regional presence to understand client requirements better • Business success based solely on delivering performance • Bespoke & highest level of
Slide 26: ESG is in PATRIZIA's DNA since 1984
Equity Story ESG is in PATRIZIA’s DNA since 1984 and part of everything we do We have ambitious yet achievable long-term sustainability goals PATRIZIA Sustainability Goals 1 2 3 4 “ Become a leading sustainable Achieve net zero carbon status Become a leading global Be an employer of choice in invest
Slide 27: How we incorporate ESG into our investment process
Equity Story How we incorporate ESG into our investment process Building stakeholder trust, increasing real estate efficiency and reducing operational risks Exit/Sales Development & • Continuous hold/sell Refurbishment analysis • ESG DD checklist Asset • Climate change risk • Sustainable and Managem
Slide 28: Strategic Agenda
Equity Story Strategic Agenda Our focus is on Company developments that jointly will produce considerable growth over the medium term: Global Presence via Regional Platforms Our Vision: Nurture and grow our regional platforms in Europe, the Asia-Pacific, and the North American region Leading Transfo
Slide 29: Growing dividends in line with our business development
Equity Story Shareholders | Growing dividends in line with our business development Increase in dividend per share by 3.1% y-o-y for FY 2022 Track Record | Dividend per share (EUR) PATRIZIA dividend policy +3.1% +6.7% 0,33 0,32 +3.4% X% Y% +7.4% 0,30 0,29 +8.0% Basis for 0,27 dividend 0,25 growth Gr
Slide 30: Stable shareholder structure & upside to analyst target prices
Equity Story Shareholders | Stable shareholder structure & upside to analyst target prices PATRIZIA share performance | as at 13.03.2023 Shareholder structure | as at 15.02.2023 Analyst recommendations | as at 14.03.2022 6 EUR 30.00 30,00 € 6,45% 2 First Capital Partner GmbH 25.00 25,00 € 3 Union In
Slide 32: Revenues: Growth of recurring fee income almost compensated decline of others
Financials Revenues: Growth of recurring fee income almost compensated for the decline of others Management fees | EUR m Transaction fees | EUR m Performance Performancefees fees||EUR EURmm 51,4  81,9  241,0  - 56.3% - 25.3% 209,1 12,8 +15.3% 61,2 22,5 38,6 4,3 18,2 FY 2021 FY 2022 FY 2021 FY 202
Slide 33: Net operating expenses grew due to acquisition consolidation
Financials Net operating expenses grew due to acquisition consolidation and integration efforts • Net operating expenses increased by 11.3% mainly due to higher staff costs and other operating expenses regarding the first-time recognition of Net operating expenses| EUR m -17,8 M&A transactions as we
Slide 34: Market inertia and reorganisation led to EBITDA compression
Financials Market inertia and proactive reorganisation efforts led to EBITDA compression Composition of EBITDA | EUR m • EBITDA impacted by market headwinds and reorganisation but   also continued growth of AUM and recurring management fees  -61.4% +11.3% -25.3% 61.2 4.3 -250.1 • Total service fe
Slide 35: Total service fee income over time
Financials Total service fee income over time PATRIZIA continues to grow while still delivering superior investment performance for clients Total service fee income | EUR m Market Covid-19 years shifts 348,0 346,4 327,6 324,7 100% 320,2 91,8 85,9 61,2 19% 268,6 86,1 92,5 22,5 7% 211,9 51,4 65,3 48,1
Slide 36: Guidance for FY 2023
Financials Guidance for FY 2023 | Taking moderately optimistic stance vis-à-vis 2023 Prel. results Guidance FY 2022 FY 2023e • Overall: Cautiously positive view on FY 2023 with investment AUM (in EUR bn) 59.1 60.0 – 65.0 activity rather picking up during H2 2023 – timing of market revival the big un
Slide 37: Dawonia – PATRIZIA's major co-investment
Financials Dawonia – PATRIZIA’s major co-investment • Dawonia is one of the largest housing companies in Munich and southern Germany with around 30,000 flats • Around 80% of the housing stock is concentrated in the 20 largest locations in southern Germany (i.e. conurbations such as Munich and the su
Slide 38: Strong balance sheet provides security and ability to make opportunistic moves
Financials Strong balance sheet provides for security and the ability to make opportunistic moves • Continued strong balance sheet ratios and capital Strong balance sheet Significant liquidity structure to facilitate further profitable growth EUR m 31.12.2022 EUR m 31.12.2022 • Net cash used for act
Slide 40: Capital allocation
Appendix Capital allocation PATRIZIA's capital allocation as at 31 December 2022 Assets under Invested capital (fair Invested capital (at Management value) cost) Participations EUR m EUR m EUR m in % Third-party business 49,225.3 0.0 Co-Investments 9,910.0 589.3 113.6 Real estate - residential 5,457
Slide 41: Reconciliation of EBITDA
Appendix Reconciliation of EBITDA Detailed reconciliation EBITDA EUR k FY 2022 Table in the current report Management fees (excluding result from participations) 231,544 Reconciliation of total service fee income Shareholder contribution for management services (in result from participations) 9,490
Slide 42: Consolidated income statement
Appendix Consolidated income statement EUR k 31.12.2022 31.12.2021 Revenues 346,289 318,163 Changes in inventories -41,266 603 Other operating income 10,477 21,027 Income from the deconsolidation of subsidiaries 18,087 63 Total operating performance 333,587 339,856 Cost of materials -7,608 -3,881 Co
Slide 43: Consolidated balance sheet | Assets
Appendix Consolidated balance sheet | Assets Assets EUR k 31.12.2022 31.12.2021 A. Non-current assets Goodwill 381,253 216,444 Other intangible assets 107,134 91,742 Software 8,080 14,204 Rights of use 26,715 33,770 Investment property 1,892 1,838 Equipment 9,721 9,736 Associated companies accounted
Slide 44: Consolidated balance sheet | Equity and liabilities
Appendix Consolidated balance sheet | Equity and liabilities Equity and liabilities EUR k 31.12.2022 31.12.2021 A. Equity Share capital 86,175 88,620 Capital reserves 67,181 89,831 Retained earnings Legal reserves 505 505 Currency translation difference -2,502 2,317 Remeasurements of defined benefit
Slide 45: Financial calendar 2023
Appendix Financial calendar 2023 12 MAY 2023 3M Interim Statement with investor and analyst conference call 25 MAY 2023 Annual General Meeting, virtual 11 AUG 2023 H1 Financial Report with investor and analyst conference call 14 NOV 2023 9M Interim Statement with investor and analyst conference call
Slide 46: Contact
Appendix Contact CHRISTOPH GLASER MARTIN PRAUM Executive Director | CFO Senior Managing Director Head of Investor Relations & Group Reporting PATRIZIA SE Fuggerstrasse 26 T +49 69 643505-1114 86150 Augsburg, Germany M +49 151 19685445 investor.relations@patrizia.ag SEBASTIAN WEIS JANINA ROCHELL VERE

Patrizia — Investor Presentation (March 2023) on 6ix

Patrizia — Investor Presentation (March 2023)

Slide 1: Company Presentation March 2023

Slide 2: Video presentation: FY 2022 Financial Results CFO

Slide 3: Agenda

Slide 4: PATRIZIA at a glance

Slide 5: Transformation of PATRIZIA

Slide 6: PATRIZIA Update 2022

Slide 7: Global presence

Slide 8: One-stop solutions provider in real assets

Slide 9: Our product offering and value contribution

Slide 10: Sample investments

Slide 11: IREI Global Investment Managers 2022

Slide 12: International and diverse Governance & Leadership

Slide 13: PATRIZIA Foundation

Slide 14: Agenda

Slide 15: PATRIZIA Equity Story

Slide 16: AUM and fee growth driven by client demand

Slide 17: Predictable management fees and diversified client base

Slide 18: Broad diversification in terms of sectors and geographies

Slide 19: Local footprint for direct real asset investments

Slide 20: Long-term dynamics support demand for real asset investments

Slide 21: Products offer solutions for real asset megatrends

Slide 22: Infrastructure – Thematic investment strategies

Slide 23: Average European prime yields of main commercial sectors

Slide 24: Real estate funds outperformed the market over the last decade

Slide 25: A global client base

Slide 26: ESG is in PATRIZIA's DNA since 1984

Slide 27: How we incorporate ESG into our investment process

Slide 28: Strategic Agenda

Slide 29: Growing dividends in line with our business development

Slide 30: Stable shareholder structure & upside to analyst target prices

Slide 31: Agenda

Slide 32: Revenues: Growth of recurring fee income almost compensated decline of others

Slide 33: Net operating expenses grew due to acquisition consolidation

Slide 34: Market inertia and reorganisation led to EBITDA compression

Slide 35: Total service fee income over time

Slide 36: Guidance for FY 2023

Slide 37: Dawonia – PATRIZIA's major co-investment

Slide 38: Strong balance sheet provides security and ability to make opportunistic moves

Slide 39: Agenda

Slide 40: Capital allocation

Slide 41: Reconciliation of EBITDA

Slide 42: Consolidated income statement

Slide 43: Consolidated balance sheet | Assets

Slide 44: Consolidated balance sheet | Equity and liabilities

Slide 45: Financial calendar 2023

Slide 46: Contact