COMPANY PRESENTATION January 2016 STRATEGY AND GUIDANCE Company - PowerPoint PPT Presentation

COMPANY PRESENTATION January 2016

STRATEGY AND GUIDANCE

Company Profile Leading Investor and Developer of High-Quality Offices in Central Europe COMPANY PROFILE  Largest listed office real estate player in Central Europe Germany Poland  Exposure to high-quality core offices in stable and growing markets of Germany and Austria combined with high growth capital cities in CEE Czech Republic  Highly stable and resilient yielding portfolio diversified across key economic centres Berlin, Frankfurt, Munich, Vienna, Warsaw, Prague, Budapest and Bucharest Austria  Blue chip tenant-driven development business in Germany major organic growth driver Hungary Romania  Strong capital base with defensive financing ratios  Investment Grade long term issuer rating of Baa2 by Moody‘s (stable outlook) KEY METRICS PORTFOLIO BY REGION ( € M) PORTFOLIO BY COUNTRY Gross Asset Value (GAV) € 3.6 bn Austria 7% 17% Germany Net Asset Value (NAV) € 2.0 bn 7% 626 17% Poland 9% Portfolio Yield 6.7% 1,459 Austria Romania 40% 7% Portfolio Occupancy 92% Germany Hungary 11% 1,540 Czech Loan-to-Value (LTV) 40% 42% CEE 43% Republic Other Equity Ratio 50% Market Cap € 1.7 bn 3 All figures as at 30 September 2015, unless otherwise stated

Strategy Implementation of Strategic Agenda 2015-2017 Bearing Fruits STRATEGY 2012-2015 STRATEGY 2015-2017 2012 2015* Key Targets  € 3.9 bn € 4.8 bn € 3.6 bn GAV Portfolio  95% 83% 85% thereof income-producing  90% 79% 83% Office Share/Investment Portfolio < 9% 13.3% 7.9% Economic Vacancy  50% 30% 50% Equity ratio  45% 40% 60% Net Loan-to-Value (LTV)  3.0% 4.5% 3.1% Average Cost of Debt > € 110 m € 31 m € 80 m Recurring FFO > 7% > 6% ROE STRATEGIC AGENDA 2012-2015 STRATEGIC AGENDA 2015-2017  Improved platform efficiency: Streamlined corporate structure, reduced  Conclude disposals of non-core assets: Sale of non-office use and sub- minority interests, and cut of administrative costs by 20% scale assets in core markets, sale of non-strategic landbank in Germany  Enhanced portfolio focus: Substantial reduction of non-core assets (CEE  Replace non-strategic assets with core properties: Development and logistics), increased core office focus and higher portfolio occupancy transfer of core offices to the investment portfolio in Germany; Buy-out of JV partners in CEE; Selective property acquisitions in Austria and CEE  Improved financial profile : Substantial balance sheet improvement,  Optimize financing structure: Further reduce long-term financing costs simultaneous increase of recurring net income (higher earnings quality) 4 * Metrics as at September 30, 2015; Recurring Funds from Operations (FFO I) based on FY 2015 guidance

Strategy 2015-2017 Portfolio Growth Towards € 4 bn in 2017 GROWTH STRATEGY 2015-2017  BOOSTING THE RECURRING PROFITABILITY OF CA IMMO  Core office portfolio expansion in existing core cities in Central Europe  Replacement of remaining non-core assets  Further increase of platform strength and competitive position  Conversion of non-incoming producing assets into yielding assets PORTFOLIO GROWTH BY DEVELOPMENT PORTFOLIO GROWTH BY ACQUISITIONS  Selective property acquisitions in core  Organic portfolio growth in Germany through markets outside Germany core office developments with high-quality tenants  Investment parameter  Development starts 2015  Located in core city of CA Immo to  Baufeld 03/KPMG, Berlin (2H 2015) Warsaw strengthen existing platform  Mannheimer Straße, Frankfurt (2H 2015) Berlin  Potential to crystallize value through local Frankfurt Prague  Development metrics 2015-2017 asset management expertise Munich Vienna  Targeted development volume € 500 m  EBRD JV Buy-out (incl. project completions 2015 of € 235 m)  Budapest Negotiations to buy EBRD’s minority stake  Average yield on cost approx. 6% successfully concluded in July  Rental income additions € 27-30 m Bucharest  Full consolidation of E-portfolio as of  Average financing costs approx. 1.5% July 1, 2015  LTV 50-60% 5

Buy-out of EBRD Minority Stake Concluded Transaction Immediately Accretive to Recurring Earnings Amazon Court Europe House BUY-OUT OF JV – PARTNER EBRD (EFFECTIVE AS OF JULY 1, 2015)  Gross purchase price of € 60 m reflects a discount to the portfolio NAV  Full consolidation of E-portfolio resulted in significant positive one-time effects in the third quarter 2015  E-portfolio performance indicators above portfolio average  immediately supportive to investment portfolio performance and FFO I  Reduced complexity following a higher number of fully owned properties Nile House Kavci Hory Zagrebtower in the portfolio (87% compared to 78% at the end of June 2015) Occupancy Gross yield Investment property Fair value (%) (%) 41.5 99.2% 8.7% City Gate, Budapest 56.4 90.6% 7.9% Infopark West, Budapest 46.7 88.8% 7.7% Europe House, Bucharest Infopark West River Place 105.0 97.6% 8.5% River Place, Bucharest 82.2 90.5% 7.8% Kavci Hory, Prague 55.7 97.5% 7.3% Amazon Court, Prague 48.7 92.4% 7.2% Nile House, Prague 50.0 96.6% 7.1% Zagrebtower, Zagreb 486.2 94.2% 7.8% Total 6 All figures as at 30 September 2015, unless otherwise stated

Strategy 2015-2017 German Development Major Organic Growth Driver and Key Differentiator WELL POSITIONED TO DRIVE GROWTH RENTAL INCOME SPLIT BY SOURCE GERMAN LAND RESERVES ( € 308 M)  Among Top 3 office developers in Germany with strong track record of blue chip tenant projects 24% 23%  Average rental returns of own developments greater than 35% Berlin competing in booming investment market  Highly valuable land reserves in inner-city locations Frankfurt*  Substantial development surpluses value-added 76% Own development 42% Munich**  Construction managment subsidiary omniCon ensures high Other quality standards (also performs third-party business) LARGEST DEVELOPMENTS BY INVESTMENT VOLUME WITH PRE-LETS AND MAJOR TENANTS 100% 500 90% 450 100% 100% 100% 100% 80% 400 70% 350 60% 300 70% 50% 250 60% 55% 54% 53% 40% 200 48% 47% 30% 42% 42% 150 40% 20% 100 10% 50 0% 0 Tower 185 Skyline Skygarden Atmos Kontorhaus Nord 1 Intercity John F. Mercedes Tour Total KPMG Ambigon Belmundo Monnet 4 (FRA) Plaza (MUC) (MUC) (MUC) (FRA) Hotel (BER) Kennedy - Benz (BER) (BER) (MUC) (DUS) (BER) (FRA)* Haus (BER) Vertrieb (BER) Total investment volume ( € m), rhs Pre-let (construction start), lhs 7 All figures as at 30 September 2015, unless otherwise stated * JV with ECE

Outlook Company Targets 2015 Reaffirmed STRATEGIC/OPERATIONAL TARGETS 2015 FINANCIAL TARGETS FY AND OUTLOOK 4Q 2015  Financial targets 2015 reaffirmed  Property disposals   Target sales volume € 150-200 m (excl. CEE logistics closed in 1Q) (Recurring) FFO I target € 80 m (14% uplift vs. FFO I FY 2014)  will be exceeded FFO II target > € 100 m   Continued progress on non-strategic assets sales Dividend payout target € 0.50 per share (2014: € 0.45 per share)  Property development  Strong fourth quarter results expected   Transfer of 3 German core developments into investment portfolio Significant gains on non-strategic property disposals currently recognized in revaluation result  reclassification to sales result  Start of 2 new projects in Germany provided closing in 4Q and thus strong impact on EBITDA and FFO II  Property acquisitions  FY 2015 net profit expected on record level  Replace non-strategic assets by core office properties  Solid NAV/share growth FFO I ( € M): FURTHER INCREASE RECURRING CORE INCOME DIVIDEND ( € /SHARE): MAINTAIN PROGRESSIVE PAYOUT POLICY 90 0.60 80 0.55 Dividend guidance : 2.5% of NAV 70 0.50 60 0.45 50 40 0.40 30 0.35 20 0.38 0.38 0.40 0.45 0.50 22 31 63 70  80 0.30 10 2011 2012 2013 2014 2015p 2011 2012 2013 2014 2015p 8 All figures as at 30 September 2015, unless otherwise stated

PORTFOLIO

Property Portfolio ( € 3.6 bn)* Slight Increase of CEE Exposure following EBRD Buy-out PORTFOLIO STRUCTURE PORTFOLIO SPLIT BY REGION AND COUNTRY ( € M)  Total property asset base of € 3.6 bn Austria 7% 17% 626  CEE portfolio share accounts for around 40% 7% 17% Germany (2Q 15: 37%) 9% 1,459 Poland  Landbank Austria 40% Romania 7%  Book value of € 341 m (2Q 15: € 400 m) Germany  Hungary Sale of non-strategic plots 11% CEE 1,540  Construction start of new projects 42% Czech Republic 43% (  reclassified as active development projects) Other PORTFOLIO BY PROPERTY TYPE ( € M) PORTFOLIO BRIDGE ( € M) 4,000 227 6% 68 3,500 341 2% 3,000 9% 2,500 Investment properties 2,000 3,625 1,500 Landbank 2,988 1,000 Active development 500 projects 83% 0 Properties held for Investment Landbank Active development Short-term Property portfolio sale/trading properties** projects properties 10 All figures as at 30 September 2015, unless otherwise stated * Incl. proportionate CA Immo share of joint ventures ** Yielding property assets