NEPI PROPERTY TOUR JUNE 2014
Company profjle MACROECONOMICS 4 ACQUISITIONS AND DEVELOPMENTS 6 SINCE JUNE 2013 CURRENT INVESTMENT ACTIVITIES 6 A Central and Eastern European property PORTFOLIO OVERVIEW 8 development and investment company INCOME PRODUCING PROPERTIES 10 DEVELOPMENTS AND EXTENSIONS 36 Distribute cash dividends (or return of SCHEDULE OF PROPERTIES 48 capital & share subscription) on a semi-annual basis Invest in properties with long-term multinational tenants with leases in Euro In-house property management, asset management, property investment & property development via an integrated approach 5-year nominal average compounded annual growth rate in distribution per share of 12.7% 4 NEPI PROPERTY TOUR JUNE 2014 NEPI PROPERTY TOUR JUNE 2014 5
Macroeconomics Romania Slovakia Key indicators 2013 2014 2015 2016 2017 2018 Key indicators 2013 2014 2015 2016 2017 2018 Real GDP growth (%) 3.5 3.1 3.8 4.6 4.7 4.5 Real GDP growth (%) 0.9 2.4 3.1 3.6 3.9 4 General gov. budget balance (% of GDP) (2.3) (2.3) (2.1) (2) (2) (2) General gov. budget balance (% of GDP) (2.8) (2.9) (3) (2.9) (2.8) (2.7) General gov. debt (% of GDP) 38.4 37.4 37.2 36.5 36 35.4 General gov. debt (% of GDP) 55.4 56.8 57.1 56.8 54.9 54.9 Unemployment (%) 7.3 5.1 4.6 4.2 3.8 3.5 Unemployment (%) 14.2 13.8 13.6 13.3 12.9 12.5 Price infmation (%) (EU harmonised) 3.2 2 3.3 3.2 2.9 2.7 Price infmation (%) (EU harmonised) 1.5 0.4 1.3 1.4 1.6 1.9 Sovereign debt rating: Moody’s: Baa3, S&P: BBB- Sovereign debt rating: Moody’s: A2, S&P: A Real GDP growth rates (%yoy) Private consumption per inhabitant (% of EU15) 15 60% Slovenia 10 50% Slovakia Baltics aggregate 5 40% Czech Republic Croatia Poland 0 30% Hungary Romania -5 20% Bulgaria Serbia -10 Albania 10% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 0% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Romania Slovakia EU27 Euro Area Current account defjcit (% of GDP) Private consumption growth (2002 base) 200% Romania 4 2 Baltics aggregate 170% 0 -2 140% -4 Bulgaria Albania -6 110% -8 Serbia -10 Slovakia -12 80% Czech Republic Poland -14 Croatia -16 50% Slovenia Hungary 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 EU15 aggregate 20% Romania Slovakia EU27 Euro Area -10% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 General government gross debt (% of GDP) Forecasted private consumption growth (2013 base) 100 Bulgaria 120% Romania 80 100% Albania Hungary 60 Serbia 80% Czech Republic Croatia 40 Slovakia 60% Baltics aggregate Slovenia 20 Poland 40% EU15 aggregate 0 20% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 0% Romania Slovakia EU27 Euro Area 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Source: Eurostat, Economist Intelligence Unit Source: Eurostat, Thomson Reuters, Oxford Economics 6 NEPI PROPERTY TOUR JUNE 2014 NEPI PROPERTY TOUR JUNE 2014 7
Acquisitions and developments completed since June 2013 Developments and extensions pipeline (€ mil) ACQUISITIONS DEVELOPMENTS Shopping City Deva (July 2013) Shopping City Galati (November 2013) Severin Mall (July 2013) 4 Strip Malls adjacent to Kaufmand Hypermarkets: May 2014 Aupark Zilina (July 2013) - Petrosani (October 2013) Mega Mall land for development (70%, July 2013) - Sighisoara (November 2013) Dec 2013 City Park Mall of Constanta (December 2013) - Sfantu Gheorghe (November 2013) Shopping City Timisoara land for development - Vaslui (May 2014) (May 2014) The Offjce – Phase I (June 2014) Dec 2012 -100 0 100 200 300 400 500 Current investment activities Finalised Money spent Committed Controlled Further opportunities UNDER CONSTRUCTION ACQUISITIONS Mega Mall (Bucharest) City Business Centre - buildings D & E Acquisitions opportunities (€ mil) Vulcan Value Centre (Bucharest) Shopping City T argu Jiu (T argu Jiu) Victoriei Offjce (Bucharest) Jun 2014 PERMITTING FURTHER OPPORTUNITIES Shopping City Timisoara (Timisoara) The Offjce - Phase II City Park Mall of Constanta Extension (Constanta) Various shopping centres in the Baltics, Bulgaria, 0 50 100 150 200 250 300 350 400 450 500 Romania, Serbia, Slovakia Shopping City Deva Extension (Deva) Controlled Further opportunities Severin Mall Extension (Drobeta-Turnu Severin) Note: Capitalised interest is not included 8 NEPI PROPERTY TOUR JUNE 2014 NEPI PROPERTY TOUR JUNE 2014 9
Portfolio overview 1 Income producing properties Slovakia RETAIL 1 Aupark Zilina Romania RETAIL OFFICE Floreasca Business Park City Park Mall of Constanta 1 2 4 Ploiesti Shopping City The Lakeview 2 3 10.5 Braila Mall City Business Centre 3 4 Shopping City Deva 5 Shopping City Galati 6 10.1 Retail Park Pitesti 7 INDUSTRIAL Severin Mall 8 Rasnov Industrial Facility 1 Brasov retail properties 9 Otopeni Warehouse 10.3 2 14 3 5 Regional strip malls Sighisoara Strip Mall 10.1 9 Alexandria Strip Mall 10.2 1 Sfantu Gheorghe Strip Mall 6 10.3 10.4 Petrosani Strip Mall 10.4 4 Vaslui Strip Mall 10.5 13 3 Developments and extensions 7 8 Romania 1 2 11 18 RETAIL OFFICE 5 2 12 Developments The Office 4 2 Victoriei Office Mega Mall 11 5 Vulcan Value Centre 12 10.2 Shopping City Targu Jiu 13 Shopping City Timisoara 14 Extensions City Park Mall of Constanta extension 2 Shopping City Deva extension 5 Severin Shopping Center extension 8 10 NEPI PROPERTY TOUR JUNE 2014 NEPI PROPERTY TOUR JUNE 2014 11
Income producing properties Aupark Zilina This regional mall is located in the historic centre of Zilina (Slovakia), the capital of a region Ownership 100% with 700 000 residents. Type Regional Mall Year opened / acquired 2010/2013 Lettable area 24 874m 2 Property value € 95.3 million Passing rent € 6.8 million Catchment area (within 30-minutes drive) 380 000 Occupancy 99.80% Purchasing power/inhabitant € 7 162 Annual visitors (2014 forecast) 9 200 000 Bank deposits/inhabitant € 3 400 Supermarket Billa Competition Mirage Shopping Center - 21 000m 2 Fashion Bata, C&A, Calzedonia, Camaieu, Deichmann, Max Zilina - 18 500m 2 H&M, Mango, New Yorker, Orsay, T akko, Major businesses in the region Automotive T om T ailor, T ommy Hilfjger Construction & transportation engineering IT&C Orange, Slovak T elekom Chemical Entertainment fjtness, playground University University of Zilina 12 NEPI PROPERTY TOUR JUNE 2014 NEPI PROPERTY TOUR JUNE 2014 13
City Park Mall of Constanta This mall has a prime location in Constanta, the 5 th largest city in Romania, close to Mamaia, Ownership 100% the most popular Romanian seaside resort. It has approved building rights which NEPI Type Regional mall intends to use for the development of a 21 000m² fashion and leisure extension. Year opened / acquired 2008/2013 Lettable area 29 284m 2 Planned extension 2015 21 000m 2 Catchment area (within 45-minutes drive) 420 000 Property value €90 million Purchasing power/inhabitant €3 698 Passing rent €7.4 million Bank deposits/inhabitant €1 630 Occupancy 97.9% Competition Maritimo Mall - 50 000m 2 Annual visitors (2014 forecast) 8 000 000 T om Mall - 32 000m 2 Hypermarket Cora T omis Mall - 18 800m 2 Fashion Adidas, Benetton, Bershka, Gant, Koton, Major businesses in the region Shipping and naval Lacoste, LC Waikiki, Mango, Marks & Spencer, T ourism Nike, Oysho, Pull & Bear, Stefanel, Commerce and education Stradivarius, T om T ailor, Zara IT&C Domo University Constanta Maritime University Food KFC, McDonalds, Pizza Hut Entertainment billiard, bowling, casino RENDER 14 NEPI PROPERTY TOUR JUNE 2014 NEPI PROPERTY TOUR JUNE 2014 15
Ploiesti Shopping City This is the dominant mall in Prahova, a region with 760 000 residents. Ownership 50% Type Regional mall Year opened 2012 Catchment area (within 45-minutes drive) 470 000 Lettable area 46 436m 2 Purchasing power/inhabitant €3 503 Land available for extension 19 219m 2 Bank deposits/inhabitant €1 142 Property value €79.2 million Competition Afj Palace Ploiesti - 33 000m 2 Passing rent €6.1 million Mall Ploiesti Centre - 8 000m 2 Occupancy 97.2% Major businesses in the region Oil production and refjning Annual visitors (2014 forecast) 6 000 000 FMCG Hypermarket Carrefour T extile manufacturing centre Fashion Bershka, Deichmann, H&M, Intersport, Koton, Universities Oil and Gas University New Yorker, Orsay, Pull&Bear, Stradivarius, Zara George Baritiu University IT&C Altex, Domo, Flanco Food Chopstix, KFC, Paul, Pizza Hut, Subway Health & beauty Douglas, Marionnaud, Sephora, Yves Rocher Entertainment casino, cinema, climbing wall, ice skating, playground 16 NEPI PROPERTY TOUR JUNE 2014 NEPI PROPERTY TOUR JUNE 2014 17
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