Slide 1: Half year results 2021
Half year results 2021 Brussels, 11 August 2021 -1-
Slide 2: Table of contents
Table of contents > Highlights H1 2021 > Strategy > Achievements > Portfolio analysis > Financials > Shares & shareholders > Outlook > Conclusion -2-
Slide 3: Highlights H1 2021
Highlights H1 2021 Verpleegcentrum Scheemda Scheemda – The Netherlands -3-
Slide 4: Highlights H1 2021 (1)
Highlights H1 2021 (1) > EPRA Earnings: €67.4 million, +26% YoY > Rental income: €108.3 million, +18% YoY, +0.7% L-F-L > Real estate portfolio of €4.4 billion, +16% (+€606 million) compared to previous ended financial year (31/12/2020) > Pipeline of €758 million in construction and renovation projec
Slide 5: Highlights H1 2021 (2)
Highlights H1 2021 (2) > 543 healthcare sites comprising ~41,000 users in 7 countries: − €1,193 million in Belgium (83 sites) − €902 million in Germany (94 sites) − €799 million in Finland (183 sites) − €735 million in the United Kingdom (102 sites) − €561 million in the Netherlands (71 sites) − €51
Slide 6: Investment activity: New acquisitions (1)
Investment activity New acquisitions (1) 78 healthcare sites (~ €665 million) added or announced during H1 2021 €53 million €48 million €96 million €27 million €51 million €323 million €67 million -6-
Slide 7: Investment activity: New acquisitions (2)
Investment activity New acquisitions (2) 78 healthcare sites (~ €665 million) added or announced during H1 2021 -7-
Slide 8: Investment activity: New acquisitions (3)
Investment activity New acquisitions (3) 78 healthcare sites (~ €665 million) added or announced during H1 2021 -8-
Slide 9: Investment activity: New acquisitions (4)
Investment activity New acquisitions (4) 78 healthcare sites (~ €665 million) added or announced during H1 2021 -9-
Slide 10: Investment activity: New acquisitions (5)
Investment activity New acquisitions (5) 78 healthcare sites (~ €665 million) added or announced during H1 2021 -10-
Slide 11: Investment activity: Pipeline completions (1)
Investment activity Pipeline completions (1) 17 projects (~ €120 million) completed during H1 2021 -11-
Slide 12: Investment activity: Pipeline completions (2)
Investment activity Pipeline completions (2) 17 projects (~ €120 million) completed during H1 2021 -12-
Slide 13: Portfolio outlook
Portfolio outlook Total portfolio outlook: €5.2 billion (As of 11 August 2021) +855 +48 5,159 4,262 -6 1 1 Incl. rights of use of plots of land. -13-
Slide 14: Strategy
Strategy Tuusulan Isokarhunkierto Tuusula - Finland -14-
Slide 15: Aedifica
Aedifica > Belgian REIT (RREC/SIR/GVV) − Market cap ~ €4.4 billion − Free float of 100% − Marketable investment properties ~ €4.3 billion − Investment programme ~ €855 million (projects & acquisitions subject to outstanding conditions) − WAULT ~ 20 years > Pure-play healthcare player > Market refere
Slide 16: 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: €735m (102 assets) Committed pipeline: €93m 2013 – Germany 2021 – Ireland 1st investment in June 2013:
Slide 17: 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 18: 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 19: Sustainability
Sustainability Strategy > TARGETS 80% 80% -20% Of energy monitoring EPC coverage by Reduction of landlord in cooperation with 2023 emissions by 2025 our tenants (scope 1 & 2) > EPC certificates inventory: Asset Label Overview > Annual Sustainability Report (% of total m² of portfolio) > EPRA Gold Aw
Slide 20: Sustainability
Sustainability Strategy > Commitment to the Paris Agreement to achieve net zero GHG emissions for our entire portfolio by 2050: focus on lifecycle assessment of our properties > Stakeholders engagement focus, promoting dialogue and good relationships > Business culture characterized by honesty and i
Slide 21: Achievements
Achievements De Kaap Hoogeveen - Netherlands -21-
Slide 22: Investment properties evolution since 2006
Achievements Investment properties1 Evolution since 2006 €m 5.500 5.159 5.000 4.421 4.500 4.000 CAGR: 24 % 3.815 (as of 30 June 2021) 3.500 3.000 2.636 2.500 1.964 2.000 1.661 1.500 971 1.065 1.000 728 566 619 356 360 453 500 198 302 0 Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec June Out
Slide 23: Focus on Europe
Achievements Focus on Europe Geographical breakdown (fair value)1 1 Marketable investment properties incl. assets classified as held for sale (€4,204 m), excl. right of use of plots of land. -23-
Slide 24: Healthcare real estate portfolio: segment breakdown
Healthcare real estate portfolio (As of 30 June 2021) > Healthcare segment breakdown Elderly care homes Senior housing Mixed-use elderly care buildings Child day-care centres Other Marketable investment properties incl. assets classified as held for sale (€4,204 m), excl. rights of use of plots of l
Slide 25: Healthcare real estate portfolio: geographical breakdown
Healthcare real estate portfolio (As of 30 June 2021) > Geographical breakdown >0% 1% Belgium Finland 18% 28% Germany Sweden Netherlands Ireland 17% United Kingdom 21% 13% Marketable investment properties incl. assets classified as held for sale (€4,204 m), excl. rights of use of plots of land. -25-
Slide 26: Belgian healthcare portfolio
Belgian healthcare portfolio (As of 30 June 2021) > Senior housing portfolio of 83 assets: − Capacity for approx. 8,500 residents − Total fair value of approx. €1,193 m − Yield on fair value of 5.3% − Inflation-linked triple net long leases − 18 tenant groups: Senior Living Group (Korian), Armonea (
Slide 27: Belgian healthcare portfolio
Belgian healthcare portfolio (As of 11 August 2021) Marketable investment properties Development projects -27-
Slide 28: Belgian healthcare portfolio
Belgian healthcare portfolio Residentie Sporenpark, Residentie Kartuizehof, Beringen Lierde • 127 units • 128 units Leopoldspark, Domaine de la Rose Leopoldsburg Blanche, Durbuy • 150 units • 121 units -28-
Slide 29: German healthcare portfolio
German healthcare portfolio (As of 30 June 2021) > Senior housing portfolio of 94 assets: − Capacity for approx. 9,700 residents − Total fair value of approx. €902 m − Yield on fair value of 5.3% − Double net long leases inflation-linked with threshold − 19 tenant groups: Vitanas, EMVIA, Residenz Ma
Slide 30: German healthcare portfolio
German healthcare portfolio (As of 11 August 2021) Marketable investment properties Development projects -30-
Slide 31: 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 -31-
Slide 32: Dutch healthcare portfolio
Dutch healthcare portfolio (As of 30 June 2021) > Senior housing portfolio of 71 assets: − Capacity for approx. 3,300 residents − Total fair value of approx. €561 m − Yield on fair value of 5.6% − Inflation-linked mostly triple net long leases − 21 tenant groups: Senior Living BV (Korian), Stichting
Slide 33: Dutch healthcare portfolio
Dutch healthcare portfolio (As of 11 August 2021) Marketable investment properties Development projects -33-
Slide 34: Dutch healthcare portfolio
Dutch healthcare portfolio OZC Orion, LTS Winschoten, Leiderdorp Winschoten • school for • 84 units children with behavioural problems Huize De De Vecht, Compagnie, Hoogeveen Ede • 79 units • 42 units -34-
Slide 35: UK healthcare portfolio
UK healthcare portfolio (As of 30 June 2021) > Senior housing portfolio of 102 assets: − Capacity for approx. 6,700 residents − Total fair value of approx. €735 m − Yield on fair value of 6.6% − Inflation-linked triple net long leases − 15 tenant groups: Maria Mallaband Care Group, Bondcare Group, B
Slide 36: UK healthcare portfolio
UK healthcare portfolio (As of 11 August 2021) Marketable investment properties Development projects -36-
Slide 37: UK healthcare portfolio
UK healthcare portfolio Richmond Manor, Minster Grange, Ampthill York • 69 units • 83 units Priesty Fields, Congleton Abbots Wood • 78 units Manor, Hailsham • 60 units -37-
Slide 38: Finnish healthcare portfolio
Finnish healthcare portfolio (As of 30 June 2021) > Healthcare portfolio of 183 assets: − Capacity for approx. 12,300 users − Total fair value of approx. €741 m − Yield on fair value of 5.4% − Inflation-linked double net leases − 35 tenant groups: Attendo, Norlandia, Mehilainen, Pilke, Touhula & oth
Slide 39: Finnish healthcare portfolio
Finnish healthcare portfolio (As of 11 August 2021) Marketable investment properties Development projects -39-
Slide 40: Finnish healthcare portfolio
Finnish healthcare portfolio Children day-care Children day-care centre, Espoo centre, Oulu • 120 units • 120 units Elderly care home, Koy Lahden keva Kempele Makarantie, Lahti • 19 units • 110 units -40-
Slide 41: Swedish healthcare portfolio
Swedish healthcare portfolio (As of 30 June 2021) > Healthcare portfolio of 5 assets: − Capacity for approx. 400 users − Total fair value of approx. €21 m − Yield on fair value of 5.4% − Inflation-linked double net leases − 4 tenant groups: British mini, Team Olivia, Kunskapsförskolan & Alternatus −
Slide 42: Swedish healthcare portfolio
Swedish healthcare portfolio (As of 11 August 2021) Marketable investment properties Development projects or assets acquisition subject to outstanding conditions -42-
Slide 43: 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, Nyby, Laholm Eskilstuna • 6 units • Preschool • Completed in August 2020 -43-
Slide 44: Irish healthcare portfolio
Irish healthcare portfolio (As of 30 June 2021) > Senior housing portfolio of 5 assets: − Capacity for more than 400 users − Investment: approx. €51 m − Yield on fair value of 5.5% − Inflation-linked triple net lease − Operator: Virtue (Emera group) − Opportunities for further development − Portfoli
Slide 45: Irish healthcare portfolio
Irish healthcare portfolio (As of 11 August 2021) Marketable investment properties Assets acquisition subject to outstanding conditions -45-
Slide 46: Irish healthcare portfolio
Irish healthcare portfolio St. Doolagh’s (impression), Balgriffin Bunclody care • 97 units home, Bunclody • 62 units Waterford care home, Waterford • 64 units Brídhaven, Mallow • 184 units -46-
Slide 47: Healthcare real estate tenants
Healthcare real estate tenants Tenant diversification1 > 543 sites with approx. 210 tenants (or approx. 110 ‘groups’)2 representing European, national and local profit and not-for-profit operators > No ‘operator group’ leases more than 12% of Aedifica’s consolidated assets 12% 7% 6% 47% 5% 5% 4% 4%
Slide 48: 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 49: Lease maturity & occupancy rate
Lease maturity & occupancy rate (As of 30 June 2021) Unexpired lease term Weighted average unexpired lease term 20 years 24% Occupancy rate 100 % 76% < 15 years ≥ 15 years 92% Marketable investment properties incl. assets classified as held for sale (€4,204 m), excl. rights of use of plots of land.
Slide 50: WAULT by country
WAULT by country 30 25 25 22 23 Avg 20 years 20 22 18 15 16 10 12 5 0 Belgium Germany The Netherlands The United Kingdom Finland Sweden Ireland -50-
Slide 51: Age of buildings
Age of buildings (As of 30 June 2021) 4% 7% 0-10 years 20% 10-20 years >20 years Project 69% Marketable investment properties incl. assets classified as held for sale (€4,204 m), excl. rights of use of plots of land. -51-
Slide 52: Gross yields on fair value
Gross yields on fair value (As of 30 June 2021) 7 6.6 6 Avg 5.6 5.6 5.5 5.4 5.4 5 5.3 5.3 4 3 2 1 0 % Belgium Germany Netherlands United Kingdom Finland Sweden Ireland -52-
Slide 53: 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 -53-
Slide 54: Development projects
Development projects Investment programme as of 30 June 2021 (1) > Investment programme: €855 million Geographical split Expected delivery date €29m €61m €61m €122m €159m €292m €93m €75m €450m €67m €300m -54-
Slide 55: Portfolio growth (2)
Portfolio growth Investment programme as of 30 June 2021 (2) Projects and renovations Operator Current Invest. as of Future (in € million) 1 budget 30/06/2021 invest. Projects in progress 509 144 365 Completion 2021 183 110 73 BE 7 6 1 Sorgvliet Senior Living Group 5 5 0 Plantijn IV Armonea 2 1 1 DE
Slide 56: Portfolio growth (3)
Portfolio growth Investment programme as of 30 June 2021 (3) Projects and renovations Operator Current Invest. as of Future (in € million) 1 budget 30/06/2021 invest. Projects in progress 509 144 365 Completion 2021 183 110 73 Completion 2022 252 31 221 BE 6 1 5 Residentie 't Spelthof Vulpia 6 1 5 D
Slide 57: Portfolio growth (4)
Portfolio growth Investment programme as of 30 June 2021 (4) Projects and renovations Operator Current Invest. as of Future (in € million) 1 budget 30/06/2021 invest. Projects in progress 509 144 365 Completion 2021 183 110 73 Completion 2022 252 31 221 Completion 2023 62 2 60 DE 50 1 49 Seniorenqua
Slide 58: Portfolio growth (5)
Portfolio growth Investment programme as of 30 June 2021 (5) Projects and renovations Operator Current Invest. as of Future (in € million) 1 budget 30/06/2021 invest. Projects in progress 509 144 365 Completion 2021 183 110 73 Completion 2022 252 31 221 Completion 2023 62 2 60 Completion 2024 11 1 1
Slide 59: Portfolio growth (6)
Portfolio growth Investment programme as of 30 June 2021 (6) Projects and renovations Operator Current Invest. as of Future (in € million) 1 budget 30/06/2021 invest. Projects in progress 509 144 365 Completion 2021 183 110 73 Completion 2022 252 31 221 Completion 2023 62 2 60 Completion 2024 11 1 1
Slide 60: Portfolio growth: Development projects
Portfolio growth Development projects Lohjan Nieuw Asuntomessut (FI) Heerenhaage – Completed on: Heerenveen (NL) 30/06/2021 Completed on: 30/06/2021 Hamburg-Rissen (impression) – Martha Flora Hamburg (DE) Dordrecht – Completion in: Dordrecht (NL) Q3 2022 Construction start: Q2 2020 Completion in: Q4
Slide 61: Financials
Financials Oulun Villa Sulka Oulu - Finland -61-
Slide 62: Income Statement: EPRA Earnings
Income Statement EPRA Earnings Consolidated income statement - analytical format 30/06/2021 30/06/2020 (x €1,000) (6 months) (6 months – restated period) Rental income 108,271 91,443 Rental-related charges -762 -2,106 Net rental income 107,509 89,337 Operating charges* -18,112 -16,985 Operating resu
Slide 63: Income Statement: Net result
Income Statement Net result Consolidated income statement - analytical format 30/06/2021 30/06/2020 (x €1,000) (6 months) (6 months – restated period) EPRA Earnings* 67,437 53,554 Changes in fair value of financial assets and liabilities 6,010 -5,662 Changes in fair value of investment properties 53
Slide 64: Rental income
Rental income (As of 30 June 2021) 120.000 +0,5 M +6,6 M + 0,4 M 108,3 M +3,1 M +2,1 M +2,3 M +1,9 M 100.000 91,4 M 80.000 x €1,000 60.000 40.000 20.000 0 Rental Belgium Germany The United Finland Sweden Ireland Rental income Netherlands Kingdom income Q1- (6months Q2 2021 restated) Change: +8.1 % +
Slide 65: EPRA Earnings
EPRA Earnings (As of 30 June 2021) 80.000 +16,8M -0,1M +0M 67,4M 70.000 +0,2M +0M -3,1M 60.000 53,6M x €1,000 50.000 40.000 30.000 20.000 10.000 0 EPRA Rental Operating Financial Tax JV Non- EPRA Earnings (6 income costs result controlling Earnings months interests Q2 2021 restated) 26% increase YoY
Slide 66: Consolidated balance sheet (€ m)
Consolidated balance sheet (€ m) Balance sheet total: €4.7 billion (As of 30 June 2021) Assets Equity & Liabilities 2,570 2,173 4,421 3,815 1,967 1,758 252 266 1 137 152 December June 2021 December June 2021 2020 2020 -66-
Slide 67: Debt-to-assets ratio
Debt-to-assets ratio 56% 56% 50% 50% 44% 43% 45% 42% 41% 37% June 2017 June 2018 March 2019 June 2019 March 2020 June 2020 Oct 2020 Dec. 2020 March 2021 June 2021 Before After Before SPO After SPO Before SPO After SPO After ABB SPO 2019 SPO 2019 April 2020 April 2020 Oct. 2020 Oct. 2020 June 2021 >
Slide 68: Debt-to-assets ratio
Debt-to-assets ratio €207m ABB 70% €286m 5.000 ABB €219m €418m 4.500 €67m €153m rights issue rights issue 60% rights issue €100m rights issue rights issue 4.000 50% 3.500 3.000 40% 2.500 €459m 30% rights issue 2.000 20% 1.500 1.000 10% 500 0% 0 Debt-to-assets ratio (%) Fair value portfolio (million
Slide 69: Credit facilities
Credit facilities Total financial debt: €1,847 m (As of 30 June 2021) Investment credits 16% 13% Term loans 68% bank facilities 5% Revolving loans 22% 11% USPP GBP Medium Term Note 32% DCM 33% Commercial Paper > New long-term financing secured during H1 2021 for €745 million : − £180 m US PP on 7 ye
Slide 70: Credit facilities: liquidity and debt maturity profile
Credit facilities (as of 30 June 2021) > Liquidity > Debt maturity profile Financial debt Lines Utilisation of which (in € million)1 treasury 600 notes 500 31/12/2021 333 333 292 31/12/2022 130 60 9 400 31/12/2023 384 134 - 300 31/12/2024 446 323 - 200 31/12/2025 557 319 - 31/12/2026 289 157 - 100 >
Slide 71: Net asset value
Net asset value Net asset value per share (in €) 30/06/2021 31/12/2020 Net asset value after deduction of the 2019/2020 dividend, excl. changes in fair value 72.28 65.75 of hedging instruments* Effect of the changes in fair value of hedging instruments -1.13 -1.58 Net asset value after deduction of
Slide 72: 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 73: EPRA metrics
EPRA > Aedifica included in the EPRA indices > EPRA metrics: Key perform ance indicators according to the EPRA principles 30/06/2021 30/06/2020 (6 m onths) (6 m onths - restated period) EPRA Earnings* (in €/share) 2,02 2,10 EPRA Cost Ratio (including direct vacancy costs)* (in 17% 21% EPRA Cost Rati
Slide 74: 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 > Investment programme: − Committed − Pre-let > Track record of successful investments >
Slide 75: Shares & shareholders
Shares & shareholders Service community Lahti Lahti - Finland -75-
Slide 76: 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 77: Share price since IPO
Share price since IPO (As of 3 August 2021) 475 Spot Var. (%) Aedifica 120,90 292 450 425 BEL20 4.235,64 1 400 375 EPRA Belgium 2.040,16 44 350 EPRA Europe 2.489,91 -7 325 300 275 250 225 200 175 150 125 100 75 50 25 Aedifica BEL20 EPRA Belgium EPRA Europe Aedifica: taking into account the value of
Slide 78: Total return since IPO
Total return since IPO 825 800 Return Var. (%) (As of 3 August 2021) 775 Aedifica 218 607 750 725 700 EPRA Belgium 7.312 239 675 650 625 EPRA Europe 5.721 67 600 575 550 525 500 475 450 425 400 375 350 325 300 275 250 225 200 175 150 125 100 75 50 25 Aedifica total return Epra Belgium total return E
Slide 79: Shareholding
Shareholding1 (As of 30 June 2021) > Aedifica shareholders holding more than 5 % of the Company’s capital2: SHAREHOLDERS Voting rights (in %) BlackRock, Inc. 5.00 Others < 5% 95.00 Total 100.00 > Aedifica’s free float amounts to 100%3. 1 A total of 36,071,064 shares are listed on Euronext Brussels a
Slide 80: Awards
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 -80-
Slide 81: Euronext
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 82: 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 83: 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 -83-
Slide 84: 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 85: Outlook
Outlook Martha Flora Hilversum Hilversum – The Netherlands -85-
Slide 86: Covid-19 impact
Covid-19 impact > Residential care portfolio (elderly & specialist care – approx. 88% 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 87: Covid-19 impact
Covid-19 impact > Rollout vaccination programmes since December 2020 − Priority given to residents and staff of elderly care homes and to 65+ population in general and vaccination completed in most European countries > First signs of a changed trend in second quarter 2021 with occupancy rates that s
Slide 88: Outlook FY 2021
Outlook FY 2021 > Budgeted rental income: €227 million (+3% compared to initial guidance) > Budgeted EPRA Earnings: €144 million (+5% compared to initial guidance) > Foreign exchange assumption £1 = €1.10 for the remaining 6 months of 2021 > Expected debt-to-assets ratio (end 2021): approx. 45% (50%
Slide 89: 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 90: Conclusion
Conclusion Abbots Wood Manor Hailsham – United Kingdom -90-
Slide 91: 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 92: Stefaan Gielens and Ingrid Daerden
Stefaan Gielens – Chief Executive Officer Ingrid Daerden – Chief Financial Officer -92-
Slide 93: Aedifica NV/SA
Aedifica NV/SA 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 94: 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 95: Appendix
Appendix Hof van Schoten Schoten - Belgium -95-
Slide 96: Portfolio growth: Investment programme (1)
Portfolio growth Investment programme as of 30 June 2021 (1) Country Developm ent Rent Rent Developm ent Rent Yield2 projects (in € m illion) projects 1 (in € m illion) (in € m illion) (in € m illion) BE 61 2 Triple net 219 11 4.9% DE 450 22 Double net 634 33 5.2% NL 67 4 Land reserve 2 - UK 93 5 To
Slide 97: Portfolio growth: Investment programme (2)
Portfolio growth Investment programme as of 30 June 2021 (2) > Investment programme: €855 million €2m €97m €247m €509m -97-
Slide 98: 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 99: 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 100: Innovative healthcare real estate: Villa Casimir
Innovative healthcare real estate Villa Casimir: an A-rated redevelopment > Roermond (NL) > Completed in October 2020 > Former villa and ‘Rijksmonument’ (national heritage site) > Redeveloped into a care residence for 18 elderly residents requiring continuous care > EPC G → A -100-
Slide 101: Innovative healthcare real estate: Villa Casimir
Innovative healthcare real estate Villa Casimir: an A-rated redevelopment > Restoration of the villa’s unique characteristic elements : − high windows − wooden beams − French doors − stained-glass windows > Improved insulation of the roof, walls & basement floor > Barrier-free environment > High-per
Slide 102: Innovative healthcare real estate: Villa Casimir
Innovative healthcare real estate Villa Casimir: an A-rated redevelopment > Low-temperature heating > Individual ventilation type C+ > All-electric approach: opportunity to use green energy & accommodate new technological developments > Futureproof building, fit for the current generation and the ne
Slide 103: Innovative healthcare real estate: Martha Flora Rotterdam
Innovative healthcare real estate Martha Flora Rotterdam The Martha Flora Rotterdam care residence in Rotterdam (NL) combines a sustainable building design with innovative technologies, while focusing on the wellbeing of the residents and their families. -103-
Slide 104: Innovative healthcare real estate: Martha Flora Rotterdam
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 -104-
Slide 105: Innovative healthcare real estate: Martha Flora Rotterdam
Innovative healthcare real estate Martha Flora Rotterdam > 100% green energy provided by 296 solar panels − providing sufficient energy for the termal and hot water installation > Heat and cold storage installation − using 2 heat pumps and 125m deep sources to extract soil energy for heating and coo
Slide 106: Notes
fre j Notes aecifica |' housing with care -106-