COMPANY PRESENTATION July 2015 STRATEGY AND GUIDANCE Company - PowerPoint PPT Presentation

COMPANY PRESENTATION July 2015

STRATEGY AND GUIDANCE

Company Profile Leading Investor and Developer of High-Quality Offices in Central Europe COMPANY PROFILE  Largest listed office real estate player in Central Europe Germany Poland  Exposure to high-quality core offices in stable and growing markets of Germany and Austria combined with high growth capital cities in CEE Czech Republic  Highly stable and resilient yielding portfolio diversified across key economic centres Berlin, Frankfurt, Munich, Vienna, Warsaw, Prague, Budapest and Austria Bucharest Hungary  Blue chip tenant-driven development business in Germany as major organic Romania growth driver  Strong capital base with defensive financing ratios PORTFOLIO BY REGION ( € M) PORTFOLIO BY COUNTRY KEY METRICS Gross Asset Value (GAV) € 3.4 bn Austria 7% 661 6% 19% 20% Germany Net Asset Value (NAV) € 1.9 bn 8% 1,310 Poland 38% Austria Portfolio Yield 6.6% 7% Romania Germany Portfolio Occupancy 91% 11% Hungary 1,443 CEE Czech Republic 42% 42% Loan-to-Value (LTV) 35% Other* Market Cap € 1.6 bn 3 All figures as at 31 March 2015, unless otherwise stated * Slovakia, Serbia, Bulgaria, Slovenia, Croatia, Ukraine

Strategy Company Transformation Well Under Way Strategy 2012-2015 Strategy 2015-2017 2012 2015* 2017 € 4.8 bn € 3.4 bn € 3.9 bn GAV Portfolio  95% 83% 85% thereof income-producing  90% 79% 79% Office Share/Investment Portfolio < 9% 13.3% 9.1% Economic Vacancy  50% 30% 52% Equity ratio  45% 35% 60% Net Loan-to-Value (LTV)  3.0% 4.5% 3.5% Average Cost of Debt > € 100 m € 31 m € 80 m Recurring FFO > 7% 3% 4.5% ROE STRATEGIC AGENDA 2012-2015 STRATEGIC AGENDA 2015-2017  Improved platform efficiency: Streamlined corporate structure, reduced  Conclude disposals of non-core assets: Sale of non-office use and sub- minority interests, and cut of administrative costs by 20% scale assets in core markets, sale of non-strategic landbank in Germany  Enhanced portfolio focus: Substantial reduction of non-core assets (CEE  Replace non-strategic assets with core properties: Development and logistics), increased core office focus and higher portfolio occupancy transfer of core offices to the investment portfolio in Germany, buy-out of  Improved financial profile : Substantial balance sheet improvement, JV partners in CEE, selective property acquisitions in Austria and CEE simultaneous increase of recurring net income (higher earnings quality)  Optimize financing structure: Further reduce long-term financing costs  Deconsolidation of JVs following new reporting standards 4 * Metrics as at March 31, 2015; Recurring FFO based on FY 2015 guidance

Strategy 2015-2017 Company Targets 2015 STRATEGIC/OPERATIONAL TARGETS 2015 FINANCIAL TARGETS 2015  Funds from Operations (FFO)  Property disposals   Target sales volume € 150-200 m (excl. CEE logistics closed in 1Q) (Recurring) FFO I target € 80 m (14% uplift vs. FFO I FY 2014)   Continued progress on non-strategic assets sales FFO II target > € 100 m  Property development  Dividend   Transfer of 3 German core developments into investment portfolio Payout target 2015 € 0.50 per share   Start of 2 new projects in Germany FFO I payout range of c. 60-65% based on 2015 FFO I guidance  Mid-term guidance 2.5% of Net Asset Value (NAV)  Property investments  Guidance uplift by 25% yoy (2014: 2% of NAV)  Replace non-strategic assets by core office properties FFO I ( € M): FURTHER INCREASE RECURRING CORE INCOME DIVIDEND ( € /SHARE): MAINTAIN PROGRESSIVE PAYOUT POLICY 90 0.60 80 0.55 70 0.50 60 0.45 50 40 0.40 30 0.35 20 0.38 0.38 0.40 0.45 0.50 22 31 63 70 80 0.30 10 2011 2012 2013 2014 2015p 2011 2012 2013 2014 2015p 5

Strategy 2015-2017 Portfolio Growth Towards € 4 bn in 2017 GROWTH STRATEGY 2015-2017  BOOSTING THE RECURRING PROFITABILITY OF CA IMMO  Core office portfolio expansion in existing core cities in Central Europe  Replacement of remaining non-core assets  Further increase of platform strength and competitive position  Conversion of non-incoming producing assets into yielding assets PORTFOLIO GROWTH BY DEVELOPMENT PORTFOLIO GROWTH BY ACQUISITIONS  Selective property acquisitions in core  Organic portfolio growth in Germany through markets outside Germany core office developments with high-quality tenants  Investment parameter  Development starts 2015  Located in core city of CA Immo to  Baufeld 03/KPMG, Berlin (2H 2015) Warsaw strengthen existing platform  Mannheimer Straße, Frankfurt (2H 2015)* Berlin  Potential to crystallize value through local Frankfurt Prague  Development metrics 2015-2017 asset management expertise Munich Vienna  Targeted development volume € 500 m  EBRD JV Buy-out (incl. project completions 2015 of € 235 m)  Budapest Core office portfolio in Prague, Budapest  Average yield on cost approx. 6% and Bucharest co-owned by CA Immo and  Rental income additions € 27-30 m Bucharest EBRD  Average financing costs approx. 1.5%  Negotiations to buy EBRD’s minority stake  LTV 50-60% successfully concluded in July 6 * In planning stage

Strategy 2015-2017 German Development Major Organic Growth Driver and Key Differentiator WELL POSITIONED TO DRIVE GROWTH RENTAL INCOME SPLIT BY SOURCE GERMAN LAND RESERVES ( € 349 M)  Top 3 office developer in supportive German market with strong track record of blue chip tenant projects 4% 24%  Average rental returns greater than competing in Berlin 23% 35% booming investment market Frankfurt  Highly valuable land reserves in inner-city locations Munich  Substantial development surpluses value-added 76% Own development 38% Other  In-house construction managment subsidiary (omniCon) Other ensures high quality standards LARGEST DEVELOPMENTS BY INVESTMENT VOLUME WITH PRE-LETS AND MAJOR TENANTS 100% 500 90% 450 100% 100% 100% 100% 80% 400 70% 350 60% 300 70% 50% 250 60% 55% 54% 53% 40% 200 48% 47% 30% 42% 42% 150 40% 20% 100 10% 50 0% 0 Tower 185 Skyline Skygarden Atmos Kontorhaus Nord 1 Intercity John F. Mercedes Tour Total KPMG Ambigon Belmundo Monnet 4 (FRA) Plaza (MUC) (MUC) (MUC) (FRA) Hotel (BER) Kennedy - Benz (BER) (BER) (MUC) (DUS) (BER) (FRA)* Haus (BER) Vertrieb Total investment volume ( € m), rhs Pre-let (construction start), lhs (BER) 7 All figures as at 31 March 2015, unless otherwise stated * JV with ECE

PORTFOLIO

Property Portfolio Attractive Portfolio Mix, Germany Accounts for Largest Single Market Share PORTFOLIO STRUCTURE INVESTMENT PORTFOLIO BY COUNTRY AND OWNERSHIP ( € M) 1,000  Total property asset base of € 3.4 bn (thereof assets fully 900 owned € 2.6 bn, the remainder held in joint ventures) 179 800 0 700  Landbank and development assets account for around 600 15% of total property assets 500 400 773 77  Investment portfolio (yielding assets) 637 300 98 200 64  Highly stable and resilient portfolio in CE key cities 105 286 157 100 182 144 100 34 0  Diversified and high credit quality tenant base Austria Germany* Poland Hungary Romania Czech Other** Republic  € 2.15 bn of assets fully owned*, € 680 m held in joint Assets fully owned Assets held at equity (CAI proportionate share) ventures and consolidated at equity (pre EBRD buy-out) PORTFOLIO BY PROPERTY TYPE ( € 3.4 BN) PORTFOLIO BRIDGE ( € BN) 3% 2% 4.0 0.1 0.1 3.5 0.4 12% 3.0 2.5 Investment properties 2.0 3.4 1.5 2.8 Landbank 1.0 0.5 Active development projects 0.0 Investment Landbank Active Properties held for Property portfolio Properties held for 83% properties development sale sale/trading projects 9 All figures as at 31 March 2015, unless otherwise stated * Excl. Kontorhaus Munich development (in completion stage) ** Slovakia, Serbia, Bulgaria, Slovenia, Croatia

Investment Portfolio 80% of Yielding Assets located in Key Economic Centres of Central Europe CORE CITIES GAV ( € m) % Rent ( € m)* % 505 18% 29.4 16% Vienna 286 10% 14.7 8% Munich 192 7% 13.0 6% Frankfurt 276 10% 17.1 9% Berlin 352 12% 26.5 14% Warsaw 192 7% 15.1 8% Prague 270 9% 19.5 10% Budapest 198 7% 16.9 9% Bucharest 565 20% 37.8 20% Other 2,837 187.6 Total PORTFOLIO BY REGION ( € M) ANNUALIZED RENT ( € M) PORTFOLIO BY COUNTRY PORTFOLIO BY SECTOR Austria 0.6% 7% 3% Office Germany 37 7% 7% 637 22% 20% 22% 6% Poland Logistics 7% 1,248 5% 44% 95 Hungary Retail Austria 10% Austria 52% Romania 52 Hotel Germany 952 28% Germany 13% 34% Czech 34% 79% Residential Republic CEE CEE Other Other 10 All figures as at 31 March 2015, unless otherwise stated * Annualized