Kiel - Multifamily complex Grafental - The largest residential development in Düsseldorf Balanced Business Model, Stable Cash Kiel - federal capital which is ranked in the top Flow, Growth Düsseldorf - ranked no. 6 in terms of quality of living 5% of the fastest growing cities in Germany Quality player in the German Rostock - Hanse Center Retail Park Leipzig – Multifamily complexes multifamily sector 64,000 m 2 commercial use, 354,000 m 2 land, 2,500 parking spaces One of the top 10 players in the Retail Parks segment in Germany Leading condo developer in Dusseldorf November 2016 Rostock – a major business center in northeastern Germany. The city is ranked in the top 15% of the Leipzig - the city with the highest population growth rate fastest growing cities in Germany in Germany 1
The purpose of this presentation is to provide information on Brack Capital Properties N.V. (hereinafter: the “Company” ), its operations and financial performance. It does not constitute an offer to purchase or sell securities of the Company or an invitation to receive offers as stated, and is designated only for the provision of information. The information provided in the presentation is for the sake of convenience only and does not constitute a basis to make any investment decisions, nor it is an alternative to the gathering and analysis of personal information, does not constitute a recommendation or opinion and does not constitute an alternative to the personal discretion of any investor. This presentation and the information included herein were not intended to replace the need to review the reports published by the Company to the public, including the Company’s periodic reports for 2015 (published on March 20, 2016) and for the third quarter of 2016 (published on November 20, 2016). The Company is not liable for the completeness or accuracy of the information included in the presentation and will not bear any liability for any damage and/or loss that may be caused as a result of using this information. In any event of a contradiction or discrepancy between the information given in this presentation in a general and summarized manner and between the detailed information appearing in the periodic reports and/or interim reports of the Company and/or the immediate reports of the Company, the statements of these reports shall govern. The presentation includes plans for operations and/or moves and/or evaluations of the Company in relation to its assets constitutes forward- looking information, as the term is defined in the Securities Law, 5728-1968 (hereinafter: the “Securities Law” ), including forecasts, business goals, evaluations and standards, and including information presented through drawings, graphs, surveys and any other information, in any manner provided, relating to the future events or matters, the realization of which is uncertain and not under the Company’s control. The realization and/or non-realization of the forward-looking information as stated will be impacted by entities that cannot be evaluated from the outset and are not under the Company’s control, including risk factors characterizing the Company’s operations and from developments in the general and financial environment in the Company’s areas of business, and external factors impacting its operations. The data detailed on pages 6, 18 and 22 regarding projects in residential development in Dusseldorf regarding data of expected profits, sales, income and expected rate of entrepreneurial profit, as detailed in these slides is forward-looking information that is not under the Company’s full control and the fulfillment of which is not certain. The information based on the current information existing in the Company, regarding: the demand for residential areas in the city, market prices of the residential areas in the city, accumulated knowledge and experience of the Company’s management and forecasts and estimates of the Company regarding the construction, development, marketing costs, etc. A change in circumstances may change the Company’s detailed evaluations, and may materially impact the expectations of income from the projects and their overall profitability. Similarly, there is not any certainty that the processes of the zoning change of the real estate sites will take place and/or will be completed, if at all, since their completion is subject to the planning and construction proceedings required according to the German law, the completion of which is not under the Company’s control. The information included in the presentation may be considered to be presented differently than the manner it is presented in the Company’s reports, but is available for calculation from the data included in the said reports. It shall be emphasized that the pictures attached to this Legal clarification presentation, as well as the statements on slides 3, 5 – 10 , 12, 13, 16, 18, 19, 21 and 22 of the presentation were not included in the past reports of the Company and are provided for the first time in this presentation, are presented in a manner that is different than that which was presented in the Company’s reports, or were updated in accordance with the statements of the Company’s periodic reports for 2015 and for the third quarter of 2016. 2
BCP at Glance Multifamily portfolio (10,414 units, 52% of GAV 1 ) - in large and growing cities (about 50% of the portfolio in cities ranked at the top two deciles in terms of • population growth rate), high-quality, high cash flow (6.8%~rental yield), a difference of 27% between new rentals and actual rental, outperformance (rental growth Attractive business of 5.1% and an increase in new rentals of 10.3%). Retail parks portfolio (334,000 sq m, 33% of GAV 1 ) - dominant centers in cities that are growing (about 2/3 of the portfolio in cities situated at the top two deciles in mix • terms of population growth rate), long lease duration, high cash flow (6.2%~NOI yield ), a significant improvement potential (rezoning and development). Residential Development (15% of GAV 1 ) - large projects (1,411 units) and well positioned, mainly in Dusseldorf, with a significant contribution to NAV in the • upcoming years . Strong operating and • BCP staff has over EUR 10 billion of collective German investment, development and asset management track record. management platform • Management and operations are highly scalable. Track record of NAV - 16% CAGR over the last 5 years. • BCP I.D. FFO - 22% CAGR over the last 5 years. • value creation Share price - 19% CAGR over the last 5 years. • Dutch N.V Active in Germany since 2004 Over 1.25 million sq m of income producing and development Robust & flexible • Credit rating – ilAA- from S&P Maalot. properties (~ EUR 1.3 billion) LTV 2 - 54.8% • balance sheet ICR 3 - 3.5x . 160 employees • Market value (Tel Aviv Stock Exchange, November 17, 2016) of approximately EUR 524 million EPRA NAV : EUR 464.3 million • Traded on the Tel Aviv Stock Exchange since December 2010. Capital markets FFO I: EUR 30.1 million • Constituent of the TA 100 and in the real estate index 15. • 46% public and institutional holdings. FFO II: EUR 39.3 million 1. Company’s share. 3 2. Net debt to total real estate portfolio. 3. EBITDA (including annualized contribution from development activity) to interest expenses .
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