20 March 2019 C ONTENT I. Executive Summary II. Main Achievements - - PowerPoint PPT Presentation

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Brief presentation on the financial report and consolidated financial report 2018 20 March 2019 C ONTENT I. Executive Summary II. Main Achievements III. Outlook B RIEF PRESENTATION ON THE FINANCIAL R EPORT 2018 | 2 HIGHLIGHTS KPI S OF HETA

SLIDE 1

Brief presentation on the financial report and consolidated financial report 2018

20 March 2019

SLIDE 2

BRIEF PRESENTATION ON THE FINANCIAL REPORT 2018 | 2

CONTENT

I. Executive Summary
II. Main Achievements
III. Outlook

SLIDE 3

BRIEF PRESENTATION ON THE FINANCIAL REPORT 2018 | 3

8,69

0,30 1,37 1,09 0,57 JE 2014 JE 2015 JE 2016 JE 2017 JE 2018

HIGHLIGHTS

KPIS OF HETA (UGB/BWG)

Annual result

adjusted*

March 2015: Based on the issuing of the Austrian

Federal Act on the Recovery and Resolution of Banks (BaSAG) HETA performed a revaluation of its portfolio under a gone-concern-assumption

This led to a negative result for the financial year

2014 of € -8,69bn

the following years 2015 to 2017 HETA achieved a positive result of overall € +2,76bn

For year 2018 the result is again positive with

€ +0,57bn, which is well above budget

HETA AG in EUR bn

159,6 106,9 82,2

JE 2016 JE 2017 JE 2018

Administrative expenses

Personal and nonpersonnel expenses

In line with its successful portfolio wind down

HETA is reducing its organization and therewith its cost structure as well

In 2018 these measures led to a significant cost

reduction by -23% respective € -24,7m compared to the previous year

Therewith cost reductions are above budget as

well

HETA Group in EUR m

YE 2014 YE 2015 YE 2016 YE 2017 YE 2018 YE 2016 YE 2017 YE 2018

*siehe Lagebericht 2018 Kapitel 6.2 Ergebnisentwicklung (GERMAN ONLY)

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BRIEF PRESENTATION ON THE FINANCIAL REPORT 2018 | 4

HIGHLIGHTS

KPIS OF HETA (UGB/BWG) 2,4 4,3 6,2 9,5 10,1

JE 2014 JE 2015 JE 2016 JE 2017 JE 2018

9,67 6,88 4,62 1,46 0,98 JE 2014 JE 2015 JE 2016 JE 2017 JE 2018

„Statische“ Recovery

Cash OeNB incl. Ínterim distribution

Significant

increase

„statische“ recovery1 reflecting the successful wind down measures

Initial expectations of the overall recovery amount

as of YE 2023 have already been exceeded

Though a slowdown in generating additional cash

is expected due to an even smaller residual portfolio

HETA AG in EUR bn

Reduction in total assets sinceYE 2014

excl. Cash OeNB
Rapid reduction in total assets since YE 2014
As of 31.12.2018 total assets are below EUR 1bn
The

internal requirement to wind down the portfolio by 80% as of YE 2018 has already been achieved in 2017

HETA Group in EUR bn

1 Recovery rate as of YE 2018 doesn‘t correspond to the final quota due to the

fact that future cash-outs are not included

YE 2014 YE 2015 YE 2016 YE 2017 YE 2018 YE 2014 YE 2015 YE 2016 YE 2017 YE 2018

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BRIEF PRESENTATION ON THE FINANCIAL REPORT 2018 | 5

WIND DOWN PLAN 2018

7,68 8,72 9,59 10,49 58,6% 66,5% 73,4% 81,3%

0,0% 0,2% 0,3% 0,5% 0,7% 0,9% 1,0% 1,2% 1,4% 1,5% 1,7% 1,9% 2,0% 2,2% 2,4% 2,6% 2,7% 2,9% 3,1% 3,2% 3,4% 3,6% 3,8% 3,9% 4,1% 4,3% 4,4% 4,6% 4,8% 5,0% 5,1% 5,3% 5,5% 5,6% 5,8% 6,0% 6,1% 6,3% 6,5% 6,7% 6,8% 7,0% 7,2% 7,3% 7,5% 7,7% 7,9% 8,0% 8,2% 8,4% 8,5% 8,7% 8,9% 9,0% 9,2% 9,4% 9,6% 9,7% 9,9% 10,1% 10,2% 10,4% 10,6% 10,8% 10,9% 11,1% 11,3% 11,4% 11,6% 11,8% 12,0% 12,1% 12,3% 12,5% 12,6% 12,8% 13,0% 13,1% 13,3% 13,5% 13,7% 13,8% 14,0% 14,2% 14,3% 14,5% 14,7% 14,9% 15,0% 15,2% 15,4% 15,5% 15,7% 15,9% 16,0% 16,2% 16,4% 16,6% 16,7% 16,9% 17,1% 17,2% 17,4% 17,6% 17,8% 17,9% 18,1% 18,3% 18,4% 18,6% 18,8% 19,0% 19,1% 19,3% 19,5% 19,6% 19,8% 20,0% 20,1% 20,3% 20,5% 20,7% 20,8% 21,0% 21,2% 21,3% 21,5% 21,7% 21,9% 22,0% 22,2% 22,4% 22,5% 22,7% 22,9% 23,0% 23,2% 23,4% 23,6% 23,7% 23,9% 24,1% 24,2% 24,4% 24,6% 24,8% 24,9% 25,1% 25,3% 25,4% 25,6% 25,8% 26,0% 26,1% 26,3% 26,5% 26,6% 26,8% 27,0% 27,1% 27,3% 27,5% 27,7% 27,8% 28,0% 28,2% 28,3% 28,5% 28,7% 28,9% 29,0% 29,2% 29,4% 29,5% 29,7% 29,9% 30,0% 30,2% 30,4% 30,6% 30,7% 30,9% 31,1% 31,2% 31,4% 31,6% 31,8% 31,9% 32,1% 32,3% 32,4% 32,6% 32,8% 33,0% 33,1% 33,3% 33,5% 33,6% 33,8% 34,0% 34,1% 34,3% 34,5% 34,7% 34,8% 35,0% 35,2% 35,3% 35,5% 35,7% 35,9% 36,0% 36,2% 36,4% 36,5% 36,7% 36,9% 37,0% 37,2% 37,4% 37,6% 37,7% 37,9% 38,1% 38,2% 38,4% 38,6% 38,8% 38,9% 39,1% 39,3% 39,4% 39,6% 39,8% 40,0% 40,1% 40,3% 40,5% 40,6% 40,8% 41,0% 41,1% 41,3% 41,5% 41,7% 41,8% 42,0% 42,2% 42,3% 42,5% 42,7% 42,9% 43,0% 43,2% 43,4% 43,5% 43,7% 43,9% 44,0% 44,2% 44,4% 44,6% 44,7% 44,9% 45,1% 45,2% 45,4% 45,6% 45,8% 45,9% 46,1% 46,3% 46,4% 46,6% 46,8% 47,0% 47,1% 47,3% 47,5% 47,6% 47,8% 48,0% 48,1% 48,3% 48,5% 48,7% 48,8% 49,0% 49,2% 49,3% 49,5% 49,7% 49,9% 50,0% 50,2% 50,4% 50,5% 50,7% 50,9% 51,0% 51,2% 51,4% 51,6% 51,7% 51,9% 52,1% 52,2% 52,4% 52,6% 52,8% 52,9% 53,1% 53,3% 53,4% 53,6% 53,8% 54,0% 54,1% 54,3% 54,5% 54,6% 54,8% 55,0% 55,1% 55,3% 55,5% 55,7% 55,8% 56,0% 56,2% 56,3% 56,5% 56,7% 56,9% 57,0% 57,2% 57,4% 57,5% 57,7% 57,9% 58,0% 58,2% 58,4% 58,6% 58,7% 58,9% 59,1% 59,2% 59,4% 59,6% 59,8% 59,9% 60,1% 60,3% 60,4% 60,6% 60,8% 61,0% 61,1% 61,3% 61,5% 61,6% 61,8% 62,0% 62,1% 62,3% 62,5% 62,7% 62,8% 63,0% 63,2% 63,3% 63,5% 63,7% 63,9% 64,0% 64,2% 64,4% 64,5% 64,7% 64,9% 65,0% 65,2% 65,4% 65,6% 65,7% 65,9% 66,1% 66,2% 66,4% 66,6% 66,8% 66,9% 67,1% 67,3% 67,4% 67,6% 67,8% 68,0% 68,1% 68,3% 68,5% 68,6% 68,8% 69,0% 69,1% 69,3% 69,5% 69,7% 69,8% 70,0% 70,2% 70,3% 70,5% 70,7% 70,9% 71,0% 71,2% 71,4% 71,5% 71,7% 71,9% 72,0% 72,2% 72,4% 72,6% 72,7% 72,9% 73,1% 73,2% 73,4% 73,6% 73,8% 73,9% 74,1% 74,3% 74,4% 74,6% 74,8% 75,0% 75,1% 75,3% 75,5% 75,6% 75,8% 76,0% 76,1% 76,3% 76,5% 76,7% 76,8% 77,0% 77,2% 77,3% 77,5% 77,7% 77,9% 78,0% 78,2% 78,4% 78,5% 78,7% 78,9% 79,0% 79,2% 79,4% 79,6% 79,7% 79,9% 80,1% 80,2% 80,4% 80,6% 80,8% 80,9% 81,1% 81,3% 81,4% 81,6% 81,8% 82,0% 82,1% 82,3% 82,5% 82,6% 82,8% 83,0% 83,1% 83,3% 83,5% 83,7% 83,8% 84,0% 84,2% 84,3% 84,5% 84,7% 84,9% 85,0% 85,2% 85,4% 2 4 6 8 10 12

Due to the remarkable wind down performance so far HETA was able to revise up the expected overall

recovery amount again

Based on the existing plan HETA expects to recover overall approx. € 10,5bn as of YE 2023, reflecting a quota
f 81,3% for all senior creditors
Currently HETA is updating the wind down plan within a further increase of the recovery amount is expected. The

updated wind down plan is expected to be finalized in May 2019. Planned recovery amount and quota

as of 31.12.2023

Medium-term planning 2015

published in October 2015

Wind down plan 2016

published in August 2016

Wind down plan 2017

published in August 2017

Wind down plan 2018

published in June 2018

HETA AG in EUR bn

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BRIEF PRESENTATION ON THE FINANCIAL REPORT 2018 | 6

CONTENT

I. Executive Summary
II. Main Achievements
III. Outlook

SLIDE 7

BRIEF PRESENTATION ON THE FINANCIAL REPORT 2018 | 7

HIGHLIGHTS ACHIEVEMENTS 2018

2nd interim distribution

Implementation of a 2nd interim distribution amounting to € 2,4bn
Therewith € 7,9bn have been distributed overall so far (63,112%)

Settlement with BayernLB

Settlement of all claims and therewith reduction of complexity
Reduction of BayernLB-claims down to € 2,4bn; additional comparative

amount of € 250m in favor of HETA

Payment of guarantees in the amount of € 1,4bn in December 2018

Settlement with Republic of Austria

Write off of the liabilities regarding liability remuneration for the subordinated

bond and transfer of € 264m to the OeNB-account

Positive impact on quota (ca. +2,6%) due to reduced basis of BaSAG-liabilities

Settlement with Carinthia

Settlement of disputable liability fee 2011 with a positive impact on HETA in

single-digit millions

Payout of € 9,3m and transfer of art in 2019

Legal cases

Significant reduction of pending legal cases from 6.136 cases as of YE 2017

down to 2.135 as of YE 20181 Participations

Reduction of participations from 83 down to 53 legal entities

1 excl. legal cases belonging to entities and portfolios up for sale

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BRIEF PRESENTATION ON THE FINANCIAL REPORT 2018 | 8

COUNTRY EXITS

STATUS SALES PROJECTS & OVERVIEW HETA-COUNTRIES

UKR HUN BiH ITA D MKD BUL MNE AUT KRO SLO SER UKR HUN BiH ITA D MKD BUL MNE AUT KRO SLO SER

sold remaining in liquidation / start of liq. soon Closing of sale soon

Status as of 31.12.2017 Status as of 31.12.2018 Projekt Type Signing Closing Status SERBIA

Vantage

Share Deal / Country exit

13.07.2018 20.12.2018 BOSNIA

Bolero

Share Deal & Asset Deal / small remaining portfolio

17.05.2018 25.02.20191 MONTENEGRO

Tara

Share Deal / Country exit¹

20.11.2018 18.03.2019 CROATIA

Solaris

Share Deal & Asset Deal / small remaining portfolio

15.01.2019 Q2 2019 SLOVENIA

Lara

Share Deal / Country exit2

2019 2019/2020

Status of sale transactions

1 Closing of Share deal done, Closing of Asset Deal scheduled for March 2019 / 2 Alternatively sale of (sub-)portfolios

Remaining HETA-Countries

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BRIEF PRESENTATION ON THE FINANCIAL REPORT 2018 | 9

CONTENT

I. Executive Summary
II. Main Achievements
III. Outlook

SLIDE 10

BRIEF PRESENTATION ON THE FINANCIAL REPORT 2018 | 10

OUTLOOK

IMPORTANT TOPICS FOR 2019

Country-Transactions – successful closing of the ongoing sales projects
Interim distribution – Verification of possibility for additional early interim-distributions
Wind down plan 2019 – Finalizing of legally required wind down plan
Liquidations – Finalization of pending liquidations and initiation of additional ones
Adjustment of organization – Reduction of the Management Board down to 2 members und further staff