ADLER Real Estate AG: Property tour 1 CMD Agenda 10.30 - 11.00 - PowerPoint PPT Presentation

ADLER Real Estate AG: Property tour 1

CMD Agenda • 10.30 - 11.00 Centrovital hotel – registration with breakfast • 11.00 - 12.00 Management presentation • 12.30 - 13.30 Viewing of flats in Spandau • 14.15 - 15.45 Boat trip with lunch from Spandau to Wasserstadt Mitte • 16.15 - 17.00 Viewing of Wasserstadt Mitte development • 17.00 - 18.00 BBQ • Afterwards Transfer to Tegel Airport 2

Spandau 3

Spandau – pre capex Cosmarweg 49-59 Type of use Residential Parking Total Units 171 7 178 Area (sqm) 11,703 11,703 ø Unit (sqm) 68 Vacancy % 3.1% Rent (€/sqm/month) 5.54 Total rent (€) 754,026 3,420 757,446 ■ Cosmarweg 51b Portfolio split by apartment size ■ 3 bedroom flat (86 sqm) 91 100 ■ Average rent: €5.21/sqm/month 80 ■ Market rent (excl. capex): €7.17/ sqm/month 60 34 40 27 16 20 3 0 < 45 sqm >= 45 und < >= 60 und < >= 75 und < >= 90 sqm 60 sqm 75 sqm 90 sqm Vacant flat - pre capex spending 4

Spandau – post capex Pillnitzer Weg 25-41, Cosmarweg 33-47 Type of use Residential Commercial Parking Other Total Units 466 2 87 1 556 Area (sqm) 32,450 158 32,608 ø Unit (sqm) 70 79 Vacancy % 2.5% Rent (€/sqm/month) 5.59 0 Total rent (€) 2,120,631 0 23,093 200 2,143,923 ■ Pillnitzer Weg 33 Portfolio split by apartment size ■ 2 bedroom flat (76 sqm) 300 250 250 ■ Average rent pre capex: €5.36/sqm/month 200 ■ Market rent (excl. capex) : €6.99/ sqm/month 150 115 ■ Average rent post capex: €8.5 /sqm/month 100 60 39 50 2 0 < 45 sqm >= 45 und < >= 60 und < >= 75 und < >= 90 sqm 60 sqm 75 sqm 90 sqm Renovated flat - post capex spending 5

Riverside project (Wasserstadt-Mitte) Inner-city district in the area between Berlin Central Station and the Government District Project information ▪ Secured contract with general contractor ▪ Strategically located in the government district close to Berlin’s main station ▪ Currently in ADLER’s balance sheet at €364.6m with 4.9% NIY ▪ GDV at completion is €451.8m ▪ Overall 755 residential units (498 apartments and 255 micro- apartments) ▪ Expected completion by the end of 2019 ▪ Full rental income from September 2020 onwards ▪ Total rentable space of c. 50,240 sqm and landbank with a planning permission for c. 10,600 sqm GFA ▪ Financing secured and in line with target to reduce LTV < 55% ▪ Strengthening of position in attractive Berlin market 6

Riverside project (Wasserstadt-Mitte) Flat Micro flat Penthouse flat Marketing suite # of bedrooms 5 x 1 bedroom 4 bedrooms 2 bedrooms Size (sqm) 27-38 sqm 113.5 sqm 78.6 sqm Estimated average rent 19.6-23.0 (unfurnished) 20.0 16.6-19.9 (€/sqm/month) 26.0 (furnished) (avg. 2 bedroom flat) 7