MAS REAL ESTATE INC INVESTOR PRESENTATION MARCH 2017
CONTENTS Distribution targets / / / / / / / / / / / / 2 Pipeline • Western Europe / / / / / / / / / / / / /6 • CEE / / / / / / / / / / / / / / / / / / / / / / / 12 1 INVESTOR PRESENTATION 2017 MAS REAL ESTATE INC
DISTRIBUTION DISTRIBUTION PER SHARE 12.0 EURO CENTS TARGET DISTRIBUTION PER SHARE H2 DISTRIBUTION PER SHARE 9.89 1 H1 DISTRIBUTION PER SHARE 10.0 +30% 8.0 7.61 1 +30% 5.85 1 6.0 4.50 3.19 1 +30% 4.0 2.23 3.35 +34% 2.20 1.84 +82% 2.66 2.0 2.27 1.24 1.15 0.6 0.0 2014 2015 2016 2017 2018 2019 1 Based on the assumption that a stable macro-economic environment will prevail, that no major corporate failures will occur and that the investments and developments reported on above will progress in accordance with expectations / This forecast has not been reviewed or reported on by MAS’ auditors / 2 MAS REAL ESTATE INC INVESTOR PRESENTATION 2017
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CAPITAL ALLOCATION NUMBER OF INCOME-GENERATING PROPERTIES 4 2 NUMBER OF DEVELOPMENT PROPERTIES Edinburgh Offjce Isle of Man Headquarters UK GERMANY 1 GERMANY UK Poland Offjce POLAND 37 London SWITZERLAND POLAND Offjce 4% Frankfurt Offjce 17% 1 8 1 PASSING RENT ROMANIA SWITZERLAND 56% €28.0 1 Prime Kapital SLOVENIA MILLION Offjce 23% 1 Includes turnover linked rent (Nova Park) of €0,24m 4 MAS REAL ESTATE INC INVESTOR PRESENTATION 2017
Euro millions PIPELINE 190 282 DEVELOPMENT FURTHER PIPELINE >50 150 SECURED INCOME-GENERATING COMMITTED 0 50 100 150 200 250 300 350 400 450 500 19% PK DEVELOPMENT JV 53% PK INVESTMENT JV W EUROPEAN DEVELOPMENTS 28% 5 INVESTOR PRESENTATION 2017 MAS REAL ESTATE INC
PIPELINE – WESTERN EUROPE/ NEW WAVERLEY PHASE II 6 MAS REAL ESTATE INC INVESTOR PRESENTATION 2017
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COMPLETION FY2019E PIPELINE – WESTERN EUROPE PHASE II NEW WAVERLEY - OFFICE Phase I of the New Waverley development delivered three hotels and twenty two new retail units. Phase II is set to deliver a signifjcant mix of new offjce, retail and residential uses. The group has been chosen to deliver approximately 19 000 square metres of Grade A offjce space on a pre- let to a signifjcant tenant, and is in the process of fjnalising detailed design and leasing agreements. The tenant will have an option to occupy up to 3 000 square metres of additional offjce space which would be delivered adjacent to the fjrst proposed offjce building. Construction is set to begin in March 2017 for completion in mid-2019 / 8 MAS REAL ESTATE INC INVESTOR PRESENTATION 2017
COMPLETION FY2019E PIPELINE – WESTERN EUROPE PHASE II NEW WAVERLEY - RESIDENTIAL Pre-letting discussions for the balance of the site are also underway to residential sector occupiers and investors / Discussions are underway with city planners regarding various options / Attractive development and investment funding is being negotiated to fund the delivery of this next phase of development / 9 INVESTOR PRESENTATION 2017 MAS REAL ESTATE INC
PIPELINE – WESTERN EUROPE/ NEW WAVERLEY PHASE II 10 MAS REAL ESTATE INC INVESTOR PRESENTATION 2017
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PIPELINE – CENTRAL & EASTERN EUROPE/ BALOTESTI RETAIL VALUE CENTRE 12 MAS REAL ESTATE INC INVESTOR PRESENTATION 2017
The planned power centre development will be integrated with Hornbach and the new Lidl on the adjacent sites, extending the combined 18 122 m 2 of GLA of these two operators by an additional 28 000 m 2 of GLA in the fjrst phase, with a substantial further extension to be developed at a later stage / 13 INVESTOR PRESENTATION 2017 MAS REAL ESTATE INC
DN1 - 4 LANE NATIONAL ROAD UNDERPASS 14 MAS REAL ESTATE INC INVESTOR PRESENTATION 2017
PIPELINE – CENTRAL & EASTERN EUROPE LOCATION & CATCHMENT AREA 32 000 people within 10’ drive 85 000 people within 15’ drive 118 000 people within 20’ drive 137 000 people within 30’ drive 35 000+ cars 15 daily commuter INVESTOR PRESENTATION 2017 MAS REAL ESTATE INC traffjc
PIPELINE – CENTRAL & EASTERN EUROPE/ KAUFLAND VALUE EXTENSIONS 16 MAS REAL ESTATE INC INVESTOR PRESENTATION 2017
The developments consist of 5 non-food extensions to Kaufmand hypermarkets in various smaller Romanian cities, with low coverage from existing or planned retail schemes, with a combined additional 20 000 m² of GLA. The extensions benefjt from the footfall generated by the existing approximately 25 000 m 2 of GLA Kaufmand hypermarkets, typically with excellent locations in dense populated areas with good visibility and access to public transport / 17 INVESTOR PRESENTATION 2017 MAS REAL ESTATE INC
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PIPELINE – CENTRAL & EASTERN EUROPE KAUFLAND – FOCSANI VALUE EXTENSION 19 INVESTOR PRESENTATION 2017 MAS REAL ESTATE INC
PIPELINE – CENTRAL & EASTERN EUROPE PIPELINE – CENTRAL & EASTERN EUROPE/ KAUFLAND – FAGARAS VALUE EXTENSION KAUFLAND – FAGARAS VALUE EXTENSION 20 MAS REAL ESTATE INC INVESTOR PRESENTATION 2017
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PIPELINE – CENTRAL & EASTERN EUROPE KAUFLAND – SEBES VALUE EXTENSION 22 MAS REAL ESTATE INC INVESTOR PRESENTATION 2017
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PIPELINE – CENTRAL & EASTERN EUROPE KAUFLAND – TARGU SECUIESC VALUE EXTENSION 24 MAS REAL ESTATE INC INVESTOR PRESENTATION 2017
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PIPELINE – CENTRAL & EASTERN EUROPE KAUFLAND – RAMNICU SARAT VALUE EXTENSION 26 MAS REAL ESTATE INC INVESTOR PRESENTATION 2017
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PIPELINE CENTRAL & EASTERN EUROPE PLOIESTI RETAIL VALUE CENTRE MAIN CITY BOULEVARD MAIN CITY PASSENGER TERMINAL
Development of a former industrial platform adjacent to a dense residential area, in close proximity to the city’s main train station, tram station and bus station with high visibility and very good road access / Current planned development of 25 560 m² of GLA with a high concentration of anchor tenants integrated with the existing adjacent Kaufmand hypermarket and planned Lidl supermarket. The city is an important industrial centre hosting major production facilities for leading international oil, chemical and automotive players as well as an important distribution hub for the wider area /
DIRECT CONNECTION FROM BRIDGE 250M TO CENTRAL TERMINALS 30 MAS REAL ESTATE INC INVESTOR PRESENTATION 2017
PIPELINE – CENTRAL & EASTERN EUROPE CATCHMENT AREA Ploiesti, with 210 000 inhabitants and the capital of Prahova county (760 000 inhabitants), is placed centrally in the larger urban agglomeration emerging north of Bucharest / 96 000 565 000 750 000 people people total catchment within walking distance within 30’ drive 31 31 INVESTOR PRESENTATION 2017 MAS REAL ESTATE INC INVESTOR PRESENTATION 2017 MAS REAL ESTATE INC
PIPELINE CENTRAL & EASTERN EUROPE EMONIKA
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PIPELINE – CENTRAL & EASTERN EUROPE THE PROJECT 59 000 m 2 21 000 m 2 retail GLA offjce & hotel GLA Ljubljana is the capital city of Slovenia and the largest city in the country with a population of approximately 280 000 / Average income per capita in the city is at 116% of the national average. Slovenia benefjts from signifjcantly higher per capita purchasing power than other CEE countries and yet Ljubljana lacks a large modern and centrally located mall. Emonika will be the fjrst modern mall in Ljubljana and integrated with the new central train and bus terminal, as well as the fjrst A grade offjces in city centre with a new hotel. The project benefjts from an excellent location due to the prominent and highly visible central location, surrounded by dense residential and offjce elements, is well served by public transport and lies on the main traffjc routes that connect the city centre with the main regional road and rail network / 36 MAS REAL ESTATE INC INVESTOR PRESENTATION 2017
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305 000 560 000 650 000 people people total catchment within 15’ drive within 30’ drive €1.5b €2.6b €3.2b annual spending on FMCG, annual spending on FMCG, annual spending on FMCG, Clothing & Footwear, Durable Clothing & Footwear, Durable Clothing & Footwear, Durable goods goods goods 2016 CONSUMPTION PER CAPITA SLOVENIA LITHUANIA ESTONIA SLOVAKIA LATVIA CZECH REPUBLIC POLAND HUNGARY ROMANIA BULGARIA €1,000 €2,000 €3,000 €4,000 €5,000 €6,000 €7,000 €8,000 €9,000 €10,000 38 MAS REAL ESTATE INC INVESTOR PRESENTATION 2017
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