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Presentation for Investors Natixis Green & Sustainable Assets Conference June 2019 Münchener Hypothekenbank eG

Disclaimer This MATERIAL IS PROVIDED SOLELY FOR INFORMATIONAL PURPOSES AND is not an offer for sale of, or an invitation for the subscription or purchase, of securities offered by THE BANK in the United States or in any other jurisdiction. Such securities may not be offered, sold or delivered in the United States or to, or for the account or benefit of, US persons (as such terms are defined in Regulations S under the U.S. Securities Act of 1933, as amended (the “Securities Act”)) unless registered under the Securities Act or pursuant to an exemption from such registration. Such securities have not been and will not be registered under the Securities Act. Any offer of such Securities in the United States will only be made by means of an offering circular that will contain detailed information about the Bank and its management, as well as financial statements. Zukunftsbezogene Aussagen Die Präsentation enthält zukunftsbezogene Aussagen. Diese zukunftsbezogenen Aussagen basieren auf den derzeitigen Erwartungen und Prognosen der Bank im Hinblick auf zukünftige Ergebnisse und sind mit Risiken, Unsicherheiten und Vermutungen verbunden, die die Bank und ihr Geschäftsfeld betreffen. Risiken, Unsicherheiten und Annahmen können dazu führen, dass die tatsächlichen Ergebnisse, Leistungen und erreichten Ziele der Bank wesentlich von den durch solche zukunftsbezogenen Aussagen ausdrücklich oder implizit umschriebenen zukünftigen Ergebnisse, Leistungen oder Zielen abweichen können. Darüber hinaus sollten potentielle Investoren beachten, dass Aussagen über in der Vergangenheit liegende Trends und Ereignisse keine Garantie dafür bedeuten, dass sich diese Trends und Ereignisse auch zukünftig fortsetzen werden. Die Bank übernimmt keinerlei Verpflichtung, zukunftsgerichtete Aussagen aufgrund von neuen Informationen, zukünftigen Ereignissen oder aus anderen Gründen öffentlich zu aktualisieren oder zu revidieren. Münchener Hypothekenbank eG 2

Why invest in MünchenerHyp? Quality Security high ratings powerful “FinanzGruppe” granular credit portfolio strong Pfandbrief act focus Germany sustainable business model Trustworthiness Partnership frequent issuer valid co-operation partner high transparency solid membership structure long-term finance partner individual solution statements Münchener Hypothekenbank eG 3

Contents Introducing MünchenerHyp 5 Sustainability 13 Business Areas 23 The Volksbanken Raiffeisenbanken Cooperative Financial Network 27 Funding 31 Pfandbriefe 37 Appendix 44 Contents 4

“Royal Bank of Bavaria”  founded in 1896  strongly enabled and supported by the former Bavarian royal family  123 years successful within the mortgage business Crown of the Kings of Bavaria  independent from any corporate group and member of the cooperative FinanzGruppe  headquarters in Munich MünchenerHyp’s Headquarters Introducing MünchenerHyp 5

Key Facts at a Glance  systemic important bank under direct ECB supervision: - 40.4 bn Euro total assets - around 550 employees - broad based ownership; no predominant owner - Moody’s issuer rating: Aa3 senior unsecured, A2 junior senior unsecured  favourable funding by Pfandbrief privilege: - Pfandbrief licence: continuous issuing of benchmark bonds and private placements - second biggest volume of outstanding mortgage Pfandbriefe in Germany - Moody’s Pfandbrief rating: both Aaa  deep roots within the Cooperative Financial Network (“FinanzGruppe”): - partner of Volksbanken and Raiffeisenbanken in the mortgage lending business - Volksbanken and Raiffeisenbanken as most important business partners and biggest owner group - excellent access to liquidity via the cooperative institutions - strong protection scheme with guarantee fund and guarantee network in the worldwide oldest exclusively private financed protection scheme for banks  sustainable business model: - long-term and risk conservative business model - focus on co-operative mission, no profit maximisation - sustainability as integral part of our business activities Date of information: 31/12/2018 Introducing MünchenerHyp 6

Ownership  membership: Equity Components 31/12/2018 - 66,540 members in € million Common Equity Tier 1 1,369.6 - 14.69 million co-operative shares Paid-up capital 1,028.3 - 70 Euro nominal value, no trading Reserves 320.0 - 1,028.3 million Euro total amount of non- Special items for general banking risk 35.0 terminated co-operative shares Deductible items -13.7 - “one man, one vote” Additional Equity Tier 1 - Tier 2 Capital 72.4 - declaration to terminate membership Total Equity 1,442.0  impact on strategy and business: Ownership structure - long-term profitability and business 31/12/2012 31/12/2018 EUR 160.8 mn EUR 1,028.3 mn sustainability - conservative risk policy 22.8% 36.5% - no major shareholder - stable and continuous dividend payments 4.6% 61.8% 72.6% 1.7% Co-operative primary banks Other FinanzGruppe companies Customers and other members Date of information: 31/12/2018 Introducing MünchenerHyp 7

Business Performance 31/12/2018 31/12/2017 loan business net interest income (mn EUR) 280.1 256.6 growth new property loans 9.3% 5.1% mortgage portfolio (bn EUR) 32.0 29.2 LCR 765.5% 285.7% regulation NSFR 104.8% 107.2% leverage ratio 3.40% 3.40% SREP minimum ratio (CET1) 8.50% 7.88% common equity tier 1 capital ratio 21.7% 23.8% capital tier 1 capital ratio 21.7% 23.8% total capital ratio 22.9% 25.2% Introducing MünchenerHyp 8

Financial Figures 2011 2012 2013 2014 2015 2016 2017 2018 e2019 Net interest income 117.9 129.0 143.6 170.6 221.5 233.4 256.6 280.1 281.0 Commission income -38.3 -50.6 -49.3 -60.1 -66.8 -74.2 -74.5 -72.5 -71.0 Total administrative expenses -63.5 -65.5 -73.5 -81.5 -88.9 -92.2 -99.6 -113.6 -117.0 Operating profit before risk provisions 10.7 10.6 22.4 27.0 61.4 63.5 78.7 88.4 89.0 Operating profit after risk provisions 6.5 9.8 21.2 26.8 56.3 67.3 85.1 76.0 77.0 Net Income 4.9 5.4 6.7 16.1 22.2 31.9 46.3 48.7 49.0 Cost-Income-Ratio 62.0 62.3 60.7 60.5 52.0 55.9 54.7 54.7 55.0 ROE (Return on equity before tax) 4.2% 5.0% 6.3% 5.1% 6.7% 6.1% 6.5% 5.5% 5.5% CET 1 Ratio 12.5% 17.3% 22.9% 23.8% 21.7% 21.0% Tier 1 Ratio 8.9% 9.1% 11.7% 14.2% 19.5% 22.9% 23.8% 21.7% 21.0% Total assets 37,348.0 36,642.9 34,898.5 36,340.1 38,098.8 38,509.0 38,905.0 40,391.2 42,000.0 2011 2012 2013 2014 2015 2016 2017 2018 e2019 New mortgage loan commitments 3,390.8 3,620.4 3,618.3 4,436.1 4,849.5 4,929.9 5,053.9 5,640.4 5,300.0 - of which residential properties 2,807.9 2,958.7 2,879.0 3,677.6 3,834.8 3,958.2 3,882.9 3,650.3 3,200.0 - of which commercial properties 582.9 661.7 739.3 758.5 1,014.7 971.7 1,171.0 1,990.1 2,100.0 New public-sector and municipal loan commitments 1,449.0 662.9 552.2 861.4 670.9 109.0 25.0 7.0 0.0 Figures in EUR millions Introducing MünchenerHyp 9

Ratings Date of information: 31/03/2019 Introducing MünchenerHyp 10

Asset Quality  public-sector and municipal loan portfolio: AA-Rating 4.80% - 2.50 bn Euro cover pool public sector Pfandbriefe A-Rating 1.77% - claims meet the strict requirements of the German Pfandbrief Act (“PfandBG”) - borrower groups according to § 28 PfandBG: 0.0% German Federal Republic Germany 67.9% German Federal States AAA-Rating unrated 50.30% 34.07% 10.0% German municipalities 6.5% banks with guarantor’s liability 15.6% European sovereigns/sub-sovereigns unrated 9.06%  total volume in Portugal, Ireland, Italy and Only Fitch ratings are applied. Spain is 0.00% according to § 28 German * In general, domestic municipalities and local authorities are not rated and several federal states have waived their Fitch rating. Pfandbrief Act according to § 28 Pfandbrief Act, date of information: 31/12/2018 Introducing MünchenerHyp 11

Asset Quality Total mortgage loan portfolio  loan portfolio: L.-t.-sust.-value ratio *) EUR millions % % cumulative - 32.0 bn Euro Up to 60% 13,679 42.81% 42.81% - 200,059 individual loans Over 60 to 70% 6,338 19.83% 62.64% - volume by type of underlying property: Over 70 to 80% 6,467 20.24% 82.88% 82.9% residential Over 80 to 90% 2,487 7.78% 90.66% Over 90 to 100% 1,669 5.22% 95.88% 17.1% commercial Over 100% 1,313 4.11% 99.99% - average loan size: Without 3 0.01% 100.00% about 133,000 Euro residential properties Total 31,956 100.00% *) The terms of the German Pfandbrief Act (PfandBG) define the about 4,400,000 Euro commercial properties sustainable value of property as, being generally 10-15% below the open market value of the property. - average loan-to-value ratio: 45 400 60.5% residential buildings 35 77.2% commercial buildings 300 - geographic split: 25 46.3% Bavaria, Baden-Württemberg, Hesse 15 200 and North Rhine-Westphalia 27.5% other German States 5 100 5.0% Berlin -5 2012 2013 2014 2015 2016 2017 2018 21.2% non-domestic -15 0 - NPL-Ratio at 0.29%; loss ratio 0.02% Net loan provisions and direct write-downs in EUR millions (LS) Number of loans (RS) Date of information: 31/12/2018 Introducing MünchenerHyp 12

Integration of Sustainability sustainability management of MünchenerHyp sustainable funding through sustainable mortgage lending ESG Pfandbriefe Sustainability 13