ROADSHOW PRESENTATION 30.06.2019 L I VI NG WORKI NG Table of - PowerPoint PPT Presentation

CARI NG ROADSHOW PRESENTATION 30.06.2019 L I VI NG WORKI NG

Table of contents 1H2019 highlights ……………………………………………………………………………………………………………………………………….................................................................. p. 3 Company profile ………………………………………………………………………………………………………………………………………....................................................................... p. 4 Property portfolio ………………………………………………………………………………………………………………………………………................................................................. p. 10 Caring ……………………………………………………………………………………………………………………………………….......................................................................... .................. p. 14 Living ……………………………………………………………………………………………………………………………………….......................................................................... .................... p. 29 Working ……………………………………………………………………………………………………………………………………….......................................................................... .............. p. 32 Financial results ………………………………………………………………………………………………………………….................................................................................. .......... p. 38 Financial resources ………………………………………………………………………………………………………………….................................................................................. ... p. 45 2019 Investment pipeline …………………………………………………………………………………………………………………...................................................................... p. 52 Appendices ……………….…………………………………………………………………………………………………………………........................................................................... .......... p. 56 Roadshow presentation – 30.06.2019 Roadshow presentation – 30.06.2019 2

1H2019 Highlights RESULTS HIGHER THAN BUDGET  Net result from core activities – Group share :  75 million EUR (vs. 68 million EUR as at 30.06.2018)  Confirmation of budgeted gross dividend for 2019, payable in 2020: 5.60 EUR/ordinary share (increase compared to 2018) ACCELERATION OF INVESTMENTS IN HEALTHCARE REAL ESTATE SINCE 01.01.2019  Acquisition of 20 assets in the Netherlands, Germany and Belgium, which represents a 363 million EUR growth or +20% increase in the past 6 months  Deliveries of 5 construction, extension or renovation projects in Belgium, France and The Netherlands  With 2.3 billion EUR , healthcare real estate accounts for 54% of the total portfolio, which reaches 4.1 billion EUR RECENTERING OF THE OFFICE PORTFOLIO  Acquisition of two companies , each one owning a building in the CBD for 22 million EUR  Signature of two sales agreement regarding two buildings in the decentralised area for 11 million EUR  Announcement of the sale of buildings Souverain/Vorst 23-25 for 50 million EUR SOLID OPERATIONAL PERFORMANCE  Gross rental revenues up 7.7% (or 2.2% on a like-for-like basis)  High occupancy rate : 96.5% at 30.06.2019 (vs. 95.8% at 31.12.2018)  Particularly long residual lease length : 12 years  Signing of a 15-year usufruct contract covering the entire Quartz office building currently undergoing redevelopment FINANCIAL STRUCTURE MANAGEMENT  Capital increase by contributions in kind totalling 295 million EUR in three operations taking market capitalisation to 3 billion EUR.  All of the credit lines maturing in 2019 have already been refinanced  Extension of the commercial paper programme to 800 million EUR (650 million EUR before)  Anticipated refinancing and extension of the syndicated loan to 400 million EUR (previously 300 million EUR)  Decrease in the average cost of debt : 1.5% (1.9 % at 31.12.2018)  Debt-to-assets ratio : 42.3% (vs. 43.0% at 31.12.2018)  Buy-back of all preference share completed on 12.07.2019 Roadshow presentation – 30.06.2019 Roadshow presentation – 30.06.2019 3

Company profile The Lounge Park Lane office building – Brussels Periphery

About Cofinimmo Portfolio breakdown by segment (30.06.2019 – based on a fair value of 4,139 million EUR) Leading Belgian listed Total portfolio REIT invested in fair value: 32% healthcare (54 %), offices (32 %) 4.1 billion EUR & distribution networks (14 %) 14% Leading listed healthcare Office property investor property investor, with in Belgium only 54% pan-European combined presence in Belgium, France, Healthcare Offices Distribution networks the Netherlands and Germany Portfolio breakdown by country (30.06.2019 – based on a fair value of 4,139 million EUR) Average weighted residual REIT status in lease term of the current Belgium (SIR/GVV), 12% leases: 12 years France (SIIC) 10% and the Netherlands (FBI) 10% Internal real estate Total management platform market capitalisation : 68% Approx. 130 employees 3 billion EUR Belgium France Germany Netherlands Roadshow presentation – 30.06.2019 Roadshow presentation – 30.06.2019 5

Share of healthcare > 54 % Portfolio breakdown by segment (30.06.2019 – based on a fair value of 4,139 million EUR) 100% 90% 32% 46% 49% 47% 40% 38% 34% 58% 56% 41% 38% 99% 95% 74% 62% 80% 70% 14% 16% 60% 17% 19% 18% 17% 50% 17% 18% 18% 40% 16% 15% 14% 30% 54% 45% 40% 42% 45% 50% 18% 20% 35% 37% 26% 30% 34% 10% 5% 8% 1% 22% 0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Q2 2019 Healthcare Distribution networks Offices Roadshow presentation – 30.06.2019 Roadshow presentation – 30.06.2019 6

Geographical presence Portfolio breakdown by country (30.06.2019 – based on a fair value of 4,139 million EUR) 100% 2% 5% 5% 5% 5% 5% 3% 4% 6% 11% 5% 10% 7% 8% 9% 9% 90% 11% 15% 10% 11% 16% 16% 16% 10% 9% 80% 16% 15% 16% 12% 14% 70% 60% 50% 86% 68% 100% 79% 79% 79% 77% 100% 94% 84% 84% 74% 72% 72% 66% 40% 30% 20% 10% 0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Q2 2019 Belgium France Netherlands Germany Roadshow presentation – 30.06.2019 Roadshow presentation – 30.06.2019 7

Active portfolio rotation Healthcare real estate: Offices: Net investments: 2,095 million EUR Net divestments: -616 million EUR 600 600 491 500 500 403 376 400 400 306 300 300 161 161 200 200 122 116 92 109 105 97 104 104 88 86 81 67 62 100 100 48 43 36 37 34 30 20 18 19 22 11 0 0 -11 -1 -24 0 -3 -2 -4 -7 -5 -18 -47 -100 -100 -51 -74 -92 -107 -127 -200 -200 -149 -161 -200 -300 -300 -253 -290 -345 -400 -400 Investments Disposals Investments Disposals Roadshow presentation – 30.06.2019 Roadshow presentation – 31.03.2019 8

On the stock market High visibility Sound daily liquidity Market cap at 24.07.2019: 3.1 billion EUR Free float: 94 % (Euronext criteria: 100 %) Number of shares: 25,849,283 Average volume traded daily: 4 million EUR Major indices: Bel20, EPRA Europe, GPR 250 Velocity: 44 % Total return from 30.06.2018 to 24.07.2019 : +16 % 120 115 110 105 100 95 90 85 30/06/2018 31/10/2018 28/02/2019 30/06/2019 Bel20 TR index EPRA Europe TR index COFB TR Roadshow presentation – 30.06.2019 Roadshow presentation – 30.06.2019 9

Property portfolio Belliard 40 office building – Brussels CBD

High occupancy, quality tenants Occupancy rate (30.06.2019 vs. 31.12.2018) 99,0% 99,9% 99,8% 96,5% 98,5% 95,8% 100% 90,2% * 88,8% 80% 60% 40% 31.12.2018 30.06.2019 31.12.2018 30.06.2019 30.06.2019 31.12.2018 31.12.2018 30.06.2019 20% 0% Healthcare Distribution networks Offices Total LHS: Top 10 tenants (30.06.2019 - as a % of contractual rents) & RHS: Lease maturity (30.06.2019 - in years) 20% 40,00 15,9% 15% 30,00 11,9% 10,3% 10% 20,00 7,2% 4,0% 3,9% 3,1% 5% 3,0% 10,00 2,5% 1,3% 0% 0,00 ** Korian AB InBev Armonea Public ORPEA Stella MAAF Aspria Care-Ion RTL Sector Vitalis *The segment ‘ Others ’ was transfered to the segment ‘Offices’ on 01.01.2019. The occupancy rate of the offices as at 31.12.2018 would have been 89.1 % with this transfer. ** Excluding 0.2 % for Colisée Groupe. Roadshow presentation – 30.06.2019 Roadshow presentation – 30.06.2019 11