Slide 1: H1 2024 Financial Results Presentation
H1 2024 Financial Results Presentation 14 August 2024 Data as at FY 2020 | 1) According to leading industry rankings by IREI 2020, prequin 2020 and PropertyEU 2020 PATRIZIA | © 2024 1
Slide 2: Strategy update
x \ Strategy update H1 2024
Slide 3: Our vision is to become the go-to manager for smart real asset solutions
Strategy update Our vision is to become the go-to manager for smart real asset solutions with EUR >100bn AUM 1. MARKET DEVELOPMENT 3. AUM GROWTH PROJECTION UNTIL 2030 AuM CAGR (2024-2030)1 Real 6.5% 6.8% Estate 2.7% PATRIZIA PATRIZIA Infra- 17.2% structure 8.1% 12.4% Market (Global) Market (Global)
Slide 4: "5 for EUR 30bn" - Focus Areas on thematic strategies and flagship products
Strategy update “5 for EUR 30bn” - Focus Areas on thematic strategies and flagship products +EUR 30bn Growth Area Equity fundraising by 2030 Detail • AIP forms and manages “Investment Clubs” for institutional and semi-professional clients Asset classes covered include infrastructure, credit and priv
Slide 5: RE-Infra marks a decisive break with sector-based investment strategies
Strategy update RE-Infra marks a decisive break with sector-based investment strategies Case studies for RE-Infra The rationale for RE-Infra: The DUEL trends Smart Cities Urbanisation 2.0 Digital Transition: Integration of earlier-stage smart technology and D digital solutions to enhance urban effic
Slide 6: Transition towards higher earnings quality
Strategy update Transition towards higher earnings quality Operating Expenses Performance Fee Transaction Fee Management Fee 2021 2022 2023 2030 Scaleability and increased Improved Revenue Mix Live Cost Discipline productivity Value proposition to tangibly improve recurring revenues and EBITDA-margi
Slide 7: Group Executive Committee (GEC)
Strategy update Execution-focused GEC to streamline investment processes and drive long-term value GROUP EXECUTIVE COMMITTEE (GEC) consists of the Executive Directors, represents all five divisions of the firm and acts as ultimate decision-making body for PATRIZIA's business operations Asoka Christo
Slide 8: COO Commentary
Strategy update COO Commentary PATRIZIA | © 2024 8
Slide 9: Financials & Guidance
Financials & Guidance H1 2024
Slide 10: Moderate valuation effects align with management expectations
Financials & Guidance Moderate valuation effects align with management expectations AUM development H1 2024| EUR bn • AUM decreased by -2.1% to EUR 56.0bn in H1 2024 (FY 2023: EUR 57.3bn; -3.2% y-o-y) 60.0 0.8 • Acquisitions of EUR 0.8bn with the majority in -0.7 -0.2 -1.0 infrastructure, logistics,
Slide 11: Broad diversification supports resilience of AUM
Financials & Guidance Broad diversification supports resilience of AUM EUR 56.0 bn assets under 3% 3% 3% 82 % resilient Core 6% management and Core plus 5% 18% 3% 26% strategies 3% 4% 17% 4% AUM by AUM by AUM by 53% 17% risk style 7% geography sector 12% 65% 4% 11% 9% 27% Germany UK & Ireland Office
Slide 12: Total service fee income reflective of continued low market activity
Financials & Guidance Total service fee income reflective of continued low market activity Management fees | EUR m Transaction fees | EUR m Performance fees | EUR m 120.6 115.5 -4.2% 27.1 +19.5% - 37.7% 16.9 1.5 3.2 2.6 1.7 H1 2023 H1 2024 H1 2023 H1 2024 H1 2023 H1 2024 Acquisition fees Dispo
Slide 13: Operating expenses down despite inflation pressure on costs and negative tax one-off
Financials & Guidance Operating expenses down despite inflation pressure on costs and negative tax one-off Changes in operating expenses y-o-y EUR m • Operating expenses decreased to EUR 130.7m (H1 2023: EUR 133.1m; -1.8%) >+100.0% -1.8% -2.3% -2.4% • Staff costs down -2.5% to EUR 83.6m (H1
Slide 14: EBITDA decline driven by continued challenging market conditions
Financials & Guidance EBITDA decline driven by continued challenging market conditions Composition of EBITDA | EUR m • EBITDA down -32.4% y-o-y to EUR 19.2m as market- driven decrease in total service fee income could -52.1% -1.8% not be compensated by lower operating expenses -37.7% +19.5
Slide 15: Solid balance sheet and financial strength provide flexibility
Financials & Guidance Solid balance sheet and financial strength provide flexibility in current environment Strong balance sheet Significant liquidity • Net debt of EUR 80m, as planned, driven EUR m 30.06.2024 EUR m 30.06.2024 by increased investment activity via Total assets 1,950.6 Bank balances,
Slide 16: Balance sheet supports strategic fund investment initiatives
Financials & Guidance Balance sheet supports strategic fund investment initiatives Major balance sheet investments as at 30 June 2024 EUR m EUR m Non-current assets Seeding Participations 588 (e.g. Dawonia) TEP VIII Real estate logistics portfolio 51 Other non-current 20 Equity 1,202 financial asset
Slide 17: Guidance confirmed - cautious optimism for FY 2024
Financials & Guidance Guidance confirmed - cautious optimism for FY 2024 • Macro-economic climate poses challenges H1 H1 Guidance FY 2023 for most clients, particularly in real estate 2023 2024 FY 2024 AUM 57.3 57.9 56.0 54.0 – 60.0 • Client investment activity expected to pick up (in EUR bn) throug
Slide 18: Appendix
Appendix H1 2024
Slide 19: Financial calendar 2024/2025
Appendix Financial calendar 2024/2025 14 AUG 24 H1 2024 Financial Report with investor and analyst conference call 14 NOV 24 9M 2024 Interim Statement with investor and analyst conference call 27 FEB 25 2024 Preliminary results with investor and analyst conference call 21 MAR 25 2024 Annual Report 1
Slide 20: Contact
Appendix Contact MARTIN PRAUM Executive Director | CFO investor.relations@patrizia.ag DR JANINA ROCHELL VERENA SCHOPP DE ALVARENGA LAURA WALZ Director | Team Head Investor Relations Senior Associate | Investor Relations Senior Associate | Investor Relations T + 49 69 643505-1229 T +49 821 50910-403