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INVESTOR PRESENTATION MAY 2019 Disclaimer The information - - PowerPoint PPT Presentation

INVESTOR PRESENTATION MAY 2019 Disclaimer The information contained in this document has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the


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INVESTOR PRESENTATION

MAY 2019

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Nexity / Investor Presentation - May 2019

Disclaimer

The information contained in this document has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither the Company, nor its shareholders, nor their advisors or representatives, nor any other person shall have any liability whatsoever for any loss arising from any use of this document or its contents or otherwise arising in connection with this document. This document does not constitute an offer to sell or an invitation or solicitation of an offer to subscribe for or purchase any securities, and this shall not form the basis for or be used for any such offer or invitation or other contract or engagement in any jurisdiction. The information, assumptions and estimates that the Company could reasonably use to determine its targets are subject to change or modification due notably to economic, financial and competitive uncertainties. Furthermore, it is possible that some of the risks presented in Section 2 of the Registration Document filed with the AMF under number D.19-0272 on 4 April 2019, could have an impact on the Company’s ability to achieve these objectives. Accordingly, the Company cannot give any assurance as to whether it will achieve the objectives described, and makes no commitment or undertaking to update or otherwise revise this information. No assurance is given as to the fairness, accuracy, completeness or correctness of the information or opinions contained in this document. Unless stated otherwise, the financial data and indicators presented are based on Nexity’s operational reporting (under IFRS with joint ventures proportionately consolidated), and reflect the impact of two new reporting standards, IFRS 15, application of which is mandatory in periods beginning on or after 1 January 2018, and IFRS 16, mandatory in periods beginning on or after 1 January 2019, which the Group is applying early from 1 January 2018. 2017 figures has been restated with new standards (IFRS 15 and IFRS 16), and by reclassifying the CVAE (French tax on value added by the business) as Corporate income tax, to improve its comparability.

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Nexity / Investor Presentation - May 2019

#Our Real Estate Services Platform #Financial results #Business activity — Individual Clients — Commercial and Local Authority Clients #Outlook #Appendix

Agenda

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Our Real Estate Services Platform

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Nexity / Investor Presentation - May 2019

Our ambition

So we need to: # Provide solutions to demographic, sociological and environmental challenges # Devise solutions to our Clients’ requirements by harnessing new uses and create shared value # Think about all aspects of urban life # Build sustainably # Act locally, respecting regions and their specific priorities

Being useful to the world in which we

  • perate and being

useful to others by being a Real Estate services plateform creating value to our society

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Nexity / Investor Presentation - May 2019

Our real estate services platform

Development of new homes and subdivisions Property management for individuals (condominium management, rental management, lettings,…), brokerage,

  • peration of serviced residences

(student and senior housing) Franchise networks Commercial real estate Commercial property management, commercial real estate advisory services, coworking and space planning

ORGANISATION FOCUSED ON EACH OF ITS CLIENTS ONGOING GROWTH IN EACH OF ITS BUSINESS LINES

“Villes & Projets”: urban planning, urban projects, new urban uses Employees – our Internal Clients – are at the heart of Nexity’s transformation, committed to an approach centred around clients and user experience

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Nexity / Investor Presentation - May 2019

Our impact on society

ENVIRONMENTAL IMPACT MANAGEMENT

  • -35% in carbon footprint per employee by 2030
  • -30% in carbon footprint per new home delivered by 2030
  • -21% in carbon footprint per sq.m of floor area for office space
  • Leading player in wood-frame offices with 84,000 sq.m delivered since 2011
  • Among the top 126 global companies across all sectors for its Climate trajectory

(CDP A list)

LEADER IN DIGITAL REAL ESTATE

  • 12 million visits to the Group’s web platform and the nexity.fr website in 2018
  • Range of products
  • 16 projects incubated in the Startup studio
  • Targeted external growth policy

SOCIO-ECONOMIC IMPACT

  • 1st partner of social housing, 1st player in intermediate housing, 1st operator in QPV*
  • Territorial network: > 400 geographical locations
  • >100,000 jobs supported in France (11 jobs for 1 job at Nexity)
  • €400m of taxes and duties paid in France** of which €100m of corporate income tax

HUMAN DEVELOPMENT

  • > 10,000 employees
  • Women make up 31% of the Club 100 (35% target by 2020)
  • 9% of voluntary turnover rate
  • 92% of permanent contracts
  • 300 interns from grade nine class coming from QPV*
  • 70% of employees are shareholders (excl. Ægide)
  • >100,000 training hours

FIRST INTEGRATED REAL ESTATE PLAYER

  • Market share gains throughout all the Group’s businesses
  • 1 million clients
  • 27 stakeholders taking part in the Group’s CSR effort

SOCIETAL COMMITMENT

  • Commitment to housing to the disadvantaged people (Nexity Non Profit)
  • More than 50 associations supported by Nexity Foundation

* QPV: priority urban planning districts ** 2018 data

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Nexity / Investor Presentation - May 2019

A resilient business model generating cashflows

235 191 337 162 118 42 9 221 168 152 232 222 2013 2008 2009 2010 2014 2011 2015 2012 2016 2017 reported 2017 restated 2018 265 217 224 215 232 228 221 260 305 368 461 523 151 122 133 132 128 133 117 149 182 239 311 350 EBITDA

(in €m)

Average 2008-2018 : 176 Average 2008-2018 : 173 Average 2008-2018 : 286 Cash flow from operating activities after financial and tax expenses

(in €m)

Free cash flow

(in €m)

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Nexity / Investor Presentation - May 2019

Nexity in 2018

2.267 74%

2018 EBITDA **

(in €m)

** o/w Other activities for -€26m 2,648 69 902 512

€4,135m

Residential Real Estate Real Estate Services to Individuals Commercial Real Estate Real Estate Services to Companies

2018 REVENUE*

(in €m)

* o/w Other activities for €4m 65 284 7 194

Individual Clients Commercial Clients

▪ Services represent: €971m revenue and €201m EBITDA ▪ Or: 23% of total revenue and 38% of total EBITDA

€523m

▪ Contribution of services to EBITDA by 2021: ~45%

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Financial Results

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Nexity / Investor Presentation - May 2019

Q1 2019 Key figures (1)

(1) According to IFRS with joint ventures proportionately consolidated (2) Guidance announced on 20 February 2019 (3) French new homes market: retail sales (ECLN) + bulk sales (Fédération des Promoteurs Immobiliers – FPI)

+28% vs T1 2018 878 M€ REVENUE AND BACKLOG INDIVIDUAL CLIENTS COMMERCIAL CLIENTS ▪ Revenue: +7.3%

in volume

+8.1%

in value

898,000 units +0.1% ▪ Services to individuals Units under management: ▪ Revenue: ▪ Order intake: ▪ Services to companies area under management: €9m 18.9 million sq.m +1.2% ▪ Business potential: +2% stable vs end-2018 €4.5bn ▪ Development backlog: +26% vs Q1 2018 €762m +40% vs Q1 2018 €119m

vs 2018 vs 2018 €782m (+14%) on a like-for-like basis €671m (+11%) on a like-for-like basis

▪ Business potential: +1% 54,299 units 2019 guidance(2): Commercial Real Estate order intake: at least equal to 2018 (€349m excl. VAT) 2019 guidance(2): continued market growth in Nexity’s market share in a market that should see slight contraction at 145,000 units(3) +6 new residences compared to 2018 89 residences ▪ Senior residences (Domitys): 2019 guidance(2): Serviced residences (students and seniors): more than 20

  • penings of new residences and rejuvenating 1,000 student housing units

Stable compared to 2018 122 residences ▪ Student residences (Studéa): 2019 guidance(2): Revenue and EBITDA expected to grow by at least 5%

€111m (+31%) on a like-for-like basis

+28% vs Q1 2018 €881m €2.8bn

vs 2018 vs 2018

▪ Revenue: ▪ New home reservations in France :

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Nexity / Investor Presentation - May 2019

Q1 2019 Revenue*

603 762 85 119

+91

Individual Clients Ægide-Domitys

881

1

Individual Clients

+68

Q1 2018

+34

Commercial Clients Other activities Q1 2019

688 +27.9%

(in €m)

* According to IFRS with joint ventures proportionately consolidated

▪ Revenue: +28% compared to Q1 2018 (+14% on a like-for- like basis) ▪ Ægide-Domitys : €91m in Q1 2019 (€42m for development activities and €49m for the residences’ management)

Individual Clients Commercial Clients Other activities

+26% +40%

€111m (+31% LFL) €671m (+11% LFL)

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2018 income statement

+16% +14% +10% +12% +52% +34%

* Based on average number of shares outstanding over the period

+11%

In million of euros 2018 2017 restated Revenue 4,135.0 3,571.3 EBITDA 523.0 460.6 % of revenue 12.6% 12.9% Current operating profit 372.7 337.9 % of revenue 9.0% 9.5% Remeasurement of Ægide-Domitys following acquisition of control 79.2

  • Operating profit

451.9 337.9 Net financial income / (expense) (51.7) (38.5) Income tax (113.1) (105.9) Share of profit/(loss) from equity-accounted investments (4.7) (4.9) Net profit 282.4 188.6 Non-controlling interests (5.5) (6.0) Net profit attributable to equity holders of the parent company 276.9 182.7 Net profit attributable to equity holders of the parent company before non-recurring items 197.7 175.8 In euros Net earnings per share* 4.95 3.30 Net earnings per share* before non-recurring items 3.53 3.17

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Nexity / Investor Presentation - May 2019

2018 revenue

+12% +43%

(in €m)

▪ Revenue up 16% compared to 2017 (+11% on a like-for-like basis) ▪ Individual Clients: Ægide- Domitys H2 2018 revenue was €175m (€83m for development

activities and €91m for the residences’ management activities)

▪ Commercial Clients: delivery of Smart Side building and increased volume under construction compared to 2017

407 581

2017 restated

4 3,160

+215

Individual Clients (like-for-like basis)

+175

Individual Clients Ægide-Domitys

+174

Commercial Clients Other activities

4 3,550

2018

3,571 4,135 +15.8%

Individual Clients Commercial Clients Other activities

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Nexity / Investor Presentation - May 2019

2018 EBITDA

EBITDA

(in €m) 416 477 67 72

  • 26

2017 restated

  • 23

2018

461 523 13.6%

EBITDA : is defined by Nexity as equal to current operating profit before depreciation, amortisation and impairment of non-current assets, net changes in provisions, share-based payment expenses and the transfer from inventory of borrowing costs directly attributable to property developments, plus dividends received from equity-accounted investees whose operations are an extension of the Group’s business. Depreciation and amortisation includes rights of use calculated in accordance with IFRS 16, together with the impact of neutralising internal margins on disposal of an asset by development companies, followed by take-up of a lease by a Group company

12.6%

12.9% 13.2% 13.4% 16.5% 12.3% Individual Clients

2018 Individual Clients Commercial Clients Other activities 2017 restated

Commercial Clients

2018 2017 restated

Group

2018 2017 restated

+5 M€ +61M€

€488m on a like-for-like basis ; margin rate at 12.3% EBITDA MARGIN

(in %)

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Focus on Real Estate Services to Individuals

▪ Property managment for individuals: stable portfolio of units under management ▪ Distribution activities: stable despite some volatility linked to the exposure to the real estate market ▪ Strong growth in serviced residences 0.9 0.1 1.3

2017 restated

0.4

2018

0.8

2021e

0.4 0.4 0.2 0.4 0.4 0.5 0.5

Distribution activities Porperty management for individuals Serviced residences

  • 3%

X 2 +2%

EBITDA margin rate by sub-segment

(as a % of revenue) 21.1%* 18.7% 38.3% 51.7% 15.4% 15.7% Distribution activities Property management for individuals Serviced residences

2018 2017 restated 2018 2017 restated 2018 2017 restated

*19.8% after adjusting for IFRS 16 impact

REVENUE

(In €bn)

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Simplified balance sheet at 31 December 2018

896 967 757 112 1,579 1,764 810

Goodwills

Total net debt: €1,567m

(in €m)

ASSETS EQUITY AND LIABILITIES

WCR Other assets Provisions Equity

(incl. Non-controlling interests)

Net financial debt before IFRS 16 IFRS 16 Leases

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▪ Individual Clients: virtually stable working capital in Residential Real Estate (+1.6%) in spite of strong momentum in this segment (backlog: +18%), and an improvement in working capital in Real Estate Services to Individuals, mainly due to the consolidation of Domitys business. Pre-sales rate still at a high level: 69% ▪ Commercial Clients: higher levels for certain developments with less favourable client payment schedules ▪ Other activities: includes new land positions secured by the Group’s urban regeneration business (Villes & Projets)

2018 Change in working capital requirement

806 762

32 87

  • 21

48

Individual Clients Residential Real Estate

2017 restated +12

  • 57

Individual Clients Real Estate Services to individuals

+108

Commercial Clients

+16

Other activities

2018

817 896 +€80m

(in €m)

Commercial Clients Other activities (incl. income tax) Individual Clients

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Reconciliation between 2018 EBITDA and current operating profit

(in €m)

523 373

Provision charges (-) / reversals (+) de provisions IFRS 16 amortisation

2018 EBITDA

  • 103

Depreciation, amortisation and impairment

  • f fixed assets
  • 32
  • 14

+5

Share-based payments

2018 Current

  • perating profit
  • 6

Borrowing costs directly attributable to property developments, transferred from inventory (IAS 23)

  • €150m

>

Ægide-Domitys IFRS 16 amortisation: €35m

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2018 Change in net financial debt (before IFRS 16)

  • 343
  • 48

2017

+508

Interest and tax payments

  • 158
  • 102

Cash flow from

  • perating activities

before WCR, interest and tax Change in

  • perating WCR

CAPEX

  • 351
  • 20

Share buyback programme

  • 757

2018

Future lease payments due

  • 140
  • 104

Dividend External growth*

  • €414m

(in €m)

* External growth for €306m (Ægide-Domitys for €226m, Morning Coworking for €64m and PMI agencies for €16m) and remeasurement of commitments to buy out minority interests of previous acquisitions for €45m

1.8x

2018 EBITDA

  • excl. IFRS 16

(€419m)

vs 2.5x

EBITDA excl. IFRS 16 (targeted threshold given in June 2018)

2018 increase in net financial debt is mainly the result of external growth transactions and remeasurement of commitments to buy

  • ut minority interests
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Business activity

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Nexity / Investor Presentation - May 2019

Expansion of the services platform strategy

French leader in serviced senior residences Stake increased to 63% of the share capital Corporate concierge services Acquisition of 100% of the share capital Digital plateform (sensors placed in buildings) Acquisition of 79% of the share capital Leading player in the Paris ready- to-use office space market Acquisition of a 54% stake

Price paid: €23.9m Commitment to buy back the remaining shares for c.€41m 2018 revenue: €17m

Property Manager, Broker and specialised retail spaces consulting Majority stake of 71%

2018 revenue: €10m

  • Jul. 18
  • Nov. 18
  • Dec. 18
  • Dec. 18
  • Jan. 19
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Business Activity

Individual Clients

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Nexity / Investor Presentation - May 2019

Nexity, service offering for Individual Clients

SELL

Brokerage for individuals (BtoC and BtoBtoC)

MANAGE

Private areas / Common areas Management of residences

RENT

Rentals for working age people / seniors / students / key accounts

BUY / INVEST

Individual homebuyers / Individual investors Professional investors New homes / Existing homes / Serviced residences

Buy Invest Sell Manage Rent CUSTOMER EXPERIENCE

▪ 12 million visits to the Group’s web platform and the nexity.fr website in 2018, some 11% looked at more than one business line ▪ More than 1 million of individual clients, > 30 million of data thanks to franchises networks ▪ Developer – operator concept involving all the functions of the Individual Clients ▪ Solutions matching the specific housing situations: access to housing, energy works, unhealthy housing, social housing, intergenerational, senior, students, family shelters, …

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The Individual Clients services platform

More than 100 land opportunities provided to developement teams More than €200m of exepcted revenue from reservations made by the distribution activities segment 21 residences built (~1.500 housing units) for Studéa and Domitys 35% of condominium management mandates and 20% of rental management mandates come from Residential Real Estate 70% of the buildings delivered by Nexity are kept for condominium management 2 years after delivery (+10 pts improvement since 2 years) 47% win rate of rental management mandates on new homes eligible to GSL (rent guarantee) 33 days on average for renting a Nexity new home eligible to GSL (compared to 53 days on average in 2016) More than 1,500 agencies and selling points More than 3 million of qualified contacts in the Group’s database

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Nexity / Investor Presentation - May 2019

Individual Clients

445 (74%) 158 (26%) Q1 2018 553 (73%) 209 (27%) Q1 2019

603 762 +26%

Residential Real Estate Real Estate Services to Individuals

▪ Revenue: €762m (+26%) ▪ Residential Real Estate

> 3,883 new home reservations in France, up 7% by volume, up 8% by value > Business potential for new homes: 54,300 units (up 1% from end-2018)

▪ Real Estate Services to Individuals

> 898,000 units under management by the Property Management for

Individuals business (up 0.1% from end-2018)

> 211 residences in operation (Studéa + Domitys) , six of which were opened in

Q1 2019

2019 OUTLOOK

▪ Growth in market share in a new housing market (retail and bulk sales*) set to decline to around 145,000 units in 2019 ▪ Serviced residences (students and seniors): the Group expects to open over 20 new residences in 2019 while rejuvenating 1,000 student housing units

2021 OBJECTIVES

▪ Reservations for new homes in France: continued market share gains for Nexity (up 3 percentage points) in a stable market (160,000 reservations expected in 2021)* ▪ Growth in the portfolio of units served by Nexity’s individual property management business ▪ Strong development in serviced residences

* Commissariat Général au Développement Durable (Sit@del2 basis) for retail sales and Fédération des Promoteurs Immobiliers for bulk sales - Nexity’s estimate for 2019

Q1 2019 KEY FIGURES

REVENUE

(In €m)

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Nexity / Investor Presentation - May 2019

Change in new home reservations in France

(in units)

Sources: Commissariat Général au Développement Durable (Sit@del2 basis for retail sales) + Fédération des Promoteurs Immobiliers for bulk sales - Nexity’s estimate for 2019

2015 2014 2011 2012 2017 2018 2013 2016 2019e

121,100 105,900 107,500 108,600 125,600 153,900 168,600 157,600 ~145,000

+10%

  • 7%

~ -8%

Retail sales Bulk sales

Low mortgage rates: 1.39% in March 2019 Demographics Stability of tax incentives Increase in construction costs and land prices Municipal elections approaching Phasing

  • ut
  • f

tax schemes in non-supply constrained areas

An undersupplied market

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Nexity / Investor Presentation - May 2019

63.0% 11.6%

COMPETITIVE ENVIRONMENT FOR NEW HOMES IN FRANCE IN 2018**

* Source: ECLN for retail sales + Fédération des Promoteurs Immobiliers for bulk sales ** Source: public disclosure from companies *** including subdivisions and commercial areas (excl. international)

Altarea Cogedim

Nexity

8.5% Bouygues Immobilier*** 4.0% Kaufman & Broad 3.1% Vinci Immobilier Icade 58.7% Others 12.4% 7.5% 5.8%

Residential Real Estate: a clear market leader

2015 9.3% 9.6% 2014 12.4% 2011 2017 2012 2013 2016 9.3% 2018 9.4% 9.6% 10.3% 10.9%

CHANGE IN NEXITY’S MARKET SHARE* (157,556 reservations in 2018)

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Nexity / Investor Presentation - May 2019

RETAIL SALES

Nexity is a clear leader in front of its main competitors:

Strong presence in the Grand Paris*

NEXITY’S MARKET SHARE** (including bulk sales)

* Île-de-France region ** Source: ECLN for retail sales + CAPEM for bulk sales *** Source: CAPEM for Nexity of 26/03/2019 – 2018 year

24%

Reduced-VAT zones

15%

Serviced residences

NEXITY MARKET SHARE BY PRODUCT TYPE***

2018

13.5% 15.4%

2016

14.7%

2017

42,217 48,633 47,441

Market reservations Nexity’s reservations Nexity’s market share

Bulk sales

21%

100 60 55 42 41

Nexity

#2 #3 #4 #5

AFFORDABLE HOUSING

Nexity’s retail sales average selling price totalled €4,521 / sq.m compared to a market average of €4,986 / sq.m, near 10% below market average

Number of reservations, all housing types - Nexity Basis 100 Source: CAPEM for Nexity of 26/03/2019 – 2018 year Source: CAPEM for Nexity of 26/03/2019 –2018 year – excl. Ægide, all housing types

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Nexity new home reservations

Subdivisions New homes, o/w

1,924

International 73 37 40 417 479 339 3,506

3,997

2,947 Q1 2017 36 Q1 2016 Q1 2018 3,618 258 3.883 285 Q1 2019

3,437 4,022 4,177

+7.3%

+4.5%

536 655 715 13 9 4 3

797 581

59 32 35 Q1 2016 Q1 2017 28 Q1 2018 20 773 Q1 2019

699 747

+8.1%

+6.7%

VOLUME

(in units, including Ægide from 1 July 2018)

VALUE

(in €m incl. VAT, including Ægide from 1 July 2018)

New home reservations in France are up 7% in volume and 8% in value (on a like-for-like basis, -1% in volume and stable in value compared to Q1 2018)

Subdivision reservations are down 24% in volume and 27% in value, due to the PTZ scheme phasing out in non-supply constrained areas and the drop in subdivision authorisations

Ægide

Given the low volumes observed in the period, changes cannot be extrapolated to the entire financial year

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Nexity / Investor Presentation - May 2019

Nexity key client segments performance

22%

23% 10% 4% 46% 7% 21%

19% 24% Q1 2017

9%

43% 3,883 5% Q1 2018 14% 51% 4% Q1 2019 3,506

3,618 +7%

  • 21%

+24%

  • 3%

+4%

Individual investors: 51% of total sales (o/w 53% using Pinel scheme)

Temporary slowdown in social housing reservations (-21%) due to the phasing

  • f reservations signings

Very limited decrease of bulk sales to institutional investors: -3% compared to Q1 2018

Partnership renewed / signed with CDC Habitat and in’li in 2018

First-time buyers Individual Investors Other homebuyers Institutional Investors Social landlords

  • 3%

Bulk sales: -15% (LFL: -15%) Retail sales: +16% (LFL: +5%)

VOLUME

(in units, including Ægide from 1 July 2018)

Given the low volumes observed in the period, changes cannot be extrapolated to the entire financial year

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Nexity new homes: price trends

184 192 193 197 202 257 261 273 267 257 250 257 267 265 256

214 218 227 224 2013 2009 2015 2011 2008 2010 2012 2014 2016 2017 T1 2018 2018 226 T1 2019 Rest of France: +4.8% Paris region: -5.8% Paris region excl. Paris: -4.1%

France: -0.3%

RETAIL SALES Q1 2018 Q1 2019 Change Average home price incl. VAT (sq.m.)

4,030 4,139 +2.7%

Average surface area per home (sq.m.)

56.2 54.6

  • 2.9%

Average price incl. VAT per home (€k)

226.5 225.9

  • 0.3%

Decrease in the average surface area mainly linked to the increase in reservations made by individual investors (+24%)

AVERAGE PRICE

(in thousand of euros, excl. PERL, iSelection, Ægide, International and bulk sales)

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Nexity / Investor Presentation - May 2019

Nexity new homes: supply for sale

52% 71% 46% 2008

2%

2010 2012 66% Q1 2019 Q1 2018 2013 31% 2014 2015

6,773

2016 2017 27% 2018

2% 2%

35% 64%

3,663

2009

2%

2011

8,651 3,542 5,058 4,202 4,293 6,988 6,438 8,135 9,005 8,151 5,313

  • 9%

New homes in project phase New homes under construction Completed new homes Ægide (operations without Nexity)

* Take-up period: available market supply / reservations for the last 12 months, expressed in months

▪ Take-up period* of 4.9 months in Q1 2019 (compared to 5.3 in Q1 2018 and 5.5 in FY 2018) ▪ Completed new homes: 127 units at end-March 2019

CURENT SUPPLY FOR SALE

(in units, excl. International and including Ægide from 1 July 2018)

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Nexity / Investor Presentation - May 2019

2.7 YEARS OF ACTIVITY

Business potential for new homes

28% 2011 2008 2009 2010 2012

21,285 22,824

2013 2014 2015 2016

23,143

43% 57% 2017 42% 53% 2018 Q1 2019 43%

41,813

57%

19,057

72%

23,941 23,100 24,832 34,453 47,560 49,581 53,602 54,299

Q1 2018

+1%

Rest of France Paris region Ægide (operations without Nexity) (in units, excl. International and including Ægide from 1 July 2018)

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Nexity / Investor Presentation - May 2019

Property management for individuals and Distribution

PMI – Units under management

(in thousands of units) 424 462 494 500 793 830 867 871 1,217

2016 Q1 2019 2017 2018

1,292 1,361 1,371

+1%

Century 21 Guy Hoquet l’Immobilier

FRANCHISES

Change in number of agencies 440 591 20 2,116 87 186 1,919

2016 2017

115 2,186

2018 Q1 2018

2

Q1 2019

2,105 2,203 2,301 460 593

+29%

iSelection PERL

DISTRIBUTION ACTIVITIES - Reservations on behalf of third-parties

(in units)

* Q1 2019 change on a like-for-like basis: +0.1% (-1.4% at end-2018)

Increase in condominium management contracts retention rate

Positive impact of Ægide-Domitys in rental management

2016 726 172 898 2017 721 168 890 2018 721 175 897 Q1 2019 721 177 898 +0.1%*

Condominium management Rental management

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Nexity / Investor Presentation - May 2019

Student residences

Number of residences

▪ 122 residences managed at end-March 2019 ▪ End-March 2019 average occupancy rate of 96.3%

▪ Robust growth in the French student housing market ‒ 1.5 million students to be housed outside the family home in 2018

‒ 2025 growth forecast: +16.4% ‒ Equal to 1.75 million students to be housed, of which 470,000 international students (China, North Africa, Sénégal)*

Mananged student residential properties attractive to institutional investors: +245% in France in 2016*** ▪ Segmentation of the offering on the basis of uses and market needs: ‒ 53% in general properties ‒ 11% PSBA** vs 24% in the United Kingdom and16% in the Netherlands

‒ Price range: €200 in social housing to €800 in the private sector

* French Ministry for schools, Higher Education and Research ** PBSA: Purpose Build Student Accomodation *** Sources: JLL, Savills

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Senior independent living facilities

35 31 48 58 2012 2013 2011 2016 2014 2015 25 2017 2018 Q1 2019 15 36 41 52 59 72 83 89

+24% CAGR

Number of residences

▪ Occupancy rate of 97% for the 58 « cruising speed » residences* (10 facilities reached the cruising speed status) ▪ Average age of residents: 78-85 years old – Average stay: 6 years ▪ Average revenue generated per resident: €1,800 per month of which 60% (~€1,000) in services and 40% (~€800) in rent ▪ A strong services component (~15 jobs per residence) ▪ Pipeline of between 15 to 20 new residences to open every year

* Taux d’occupation supérieur ou égal à 90% au 1er janvier

▪ ~600 facilities in France, i.e. ~50,000 housing units ▪ The population of those aged 75 or over is set to grow by 40% by 2030 to reach 8.5 million

+46% +20% 1 million 5 millions +46% +20% 1.2 million 1 million 7.3 million 5 million

2016 2030 Independent Dependent

6 million of 75 or over 8.5 million of 75 or over

Main players

Cruising speed residences Ramp-up residences

Sources: Xerfi Precepta ; Insee Première n°1619 and 1683 / Primary sources: DREES, ARS, Finess and data from operators (2015-2016)

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Business activity

Commercial and Local Authority Clients

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Nexity / Investor Presentation - May 2019

Adapting our solutions to meet client needs

NEXITY ENTRERPRISE SOLUTIONS

CLIENT DEVELOPMENT BROKERAGE PROPERTY MANAGEMENT OPERATIONS PLANNING BUSINESS FACTORY ADVISORY

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Nexity / Investor Presentation - May 2019

Commercial Clients

70 (82%) 15 (18%) Q1 2018 98 (83%) Q1 2019 21 (17%)

85 119 +40%

Commercial Real Estate Real Estate Services to Companies

Q1 2019 KEY FIGURES

▪ Revenue: €119m (+40%) ▪ Commercial Real Estate

> No significant order in Q1 (€9m excl. VAT) > Business potential: €2.8bn (stable compared to end-2018)

▪ Real Estate Services to Companies

> 19 million sq.m of floor areas under management > 2 locations openings by Morning Coworking > Majority stake of NCT sold to its management

REVENUE

(In €m)

2019 OUTLOOK

▪ Order intake volume at least equal to 2018 (€349m excl. VAT) ▪ Continued growth of new service offerings (Intent, Accessite, etc.)

2021 OBJECTIVES

▪ Commercial Real Estate order intake: about €650 million on average per year over the period of the plan

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Nexity / Investor Presentation - May 2019

Commercial real estate market

Sources: CBRE Marketview France Investissements et Bureaux¨Île-de-France Q1 2019 ; Finance Active Q2 Q1 Q3 Q4 5 10 15 20 25 30 35 2006 2008 2007 2009 2010 2011 2012 2013

3.8

2014 2015 2016 2017 2018 2019

  • 13%

2006-2018 average: €20.4bn

4.40% 3.00% 0.25% 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 06 07 08 09 10 11 12 13 14 15 16 17 18 Q1 2019 Class A logistics Paris CBD Office space OAT TEC 10

▪ Offices off-plan sales in Paris region: ~€0,5bn in Q1 2019 ▪ Take-up in Paris region: -23% on 1 year at 541,300 sq.m in Q1 2019, compared to 702,000 sq.m in Q1 2018 (historical record) ▪ Vacancy rate: 5.1% in Paris region ; 2.2% inside Paris; 1.5% in Paris CBD

COMPARISON OF PRIME REAL ESTATE AND GOVERNMENT BOND YIELDS COMMERCIAL REAL ESTATE INVESTMENTS IN FRANCE

(in € billion)

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Business potential* for Commercial Real Estate

* Corresponds to the total volume of potential business at any given moment, expressed as estimated revenue excluding VAT, within future projects validated by the Nexity’s Investment Committee, under options or purchased land, in all structuring phases, including urban regeneration business (Villes & Projets). This business potential includes Nexity’s current supply for sale as well as its future supply

5.5 YEARS OF ACTIVITY +2%

AT 31 MARCH 2019

(in €m) 775 (28%) 2,021 (72%) 824 (29%) 2,021 (71%)

Paris region Rest of France

€2,845m AT 31 DECEMBER 2018

(in €m)

€2,796m

5.5 YEARS OF ACTIVITY

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La Garenne-Colombes (Hauts-de-Seine)

Engie: a financial and strategic development partnership

▪ Acquisition with Engie in July 2018 of a 9-hectares plot of PSA group industrial land in La Garenne-Colombes (92), and a further 2 hectares with RATP group ▪ Conclusion of a technological partnership to develop with Engie an ambitious general interest urban project in terms of energy transition ▪ Complex mixed programme of offices, housing, shops and a hotel, a new PSA branch, and community facilities ▪ Creation of Engie’s eco-business park for 136,000 sq.m, the largest private project in Greater Paris

13 July 2018 Land acquisition 2019 Building permits preparation Permissions obtention sales launch of the campus 2020 Start of construction works 2021 2022 2023 Scheduled delivery of the Engie campus 2024

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Nexity / Investor Presentation - May 2019

Real Estate Services to Companies

ACCESSITE

▪ Property manager and broker specialised in retail spaces ▪ Majority stake of 71% (consolidated from 1 January 2019) ▪ 951,000 sq.m under management

NEXITY CONSEIL ET TRANSACTION

▪ Majority stake sold to the management at end-March 2019 ▪ Nexity keeps a 16.3% stake 11.3 1.0

2017

8.0 10.6

18.6 2018

8.0 10.1 1.0

Q1 2019 12.3 19.0 +1.9%

Technical management Rental management Accessite

PROPERTY MANAGEMENT

(in millions of sq.m under management)

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Coworking market

SPECIALISED ACTORS « OUTSIDE OFFICES » COWORKING 1ST GENERATION REAL ESTATE ACTORS

Coworking coming from collaborative and digital economies Community setting based on « informality » and « caring »,

  • pen spaces and meeting rooms

11% market share Average floor area: 700 sq.m Coworking coming from real estate sector Design office spaces with fully equipes and modular workstations: open spaces, meeting rooms, private spaces, insulation spaces... ~90% market share 235,000 sq.m placed Average floor area: 2,600 sq.m Coworking concerning spaces other than offices (nurseries, hotels...) Mainly services and event organisation Main players Main players Main players

3 TYPES OF COWORKING PLAYERS: KEY FIGURES:

from 1% to 6%

Of the total offices take-up in the Paris region between 2015 and 2018

1%

Of the Paris region offices in Q3 2018 >300,000

  • sq. m

Total area of coworking spaces in the Paris region in Q3 2018

Source: Cushman & Wakefield – « La ronde du coworking » – December 2018

72%

Of the Paris region cowortking spaces are located in the inner city

  • f Paris
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Morning Coworking

▪ 18 coworking spaces at end-March 2019 ▪ Near 50,000 sq.m ▪ >5,000 workstations

STRONG REVENUE GROWTH

(in €m) 5 11 17 5 2016 Q1 2019 2017 2018

x3.4

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« Inventer Bruneseau » - « Nouvel R » Project

Won the call for projects to develop near 100,000 sq.m between Paris and Ivry-sur-Seine. An ambitious project that will make of Bruneseau the first carbon-free district in France Key figures: ▪ 95,000 sq.m: 25,000 sq.m of offices / 50,000 sq.m of housing units / 20,000 sq.m of retail premises ▪ Carbon footprint divided by 5 compared to the Parisian average ▪ 50% of energy produced or recovered on-site ▪ Energy sufficiency (renewable energy and energy from waste): 65% Consortium: ▪ AG Real Estate ▪ Icade ▪ Les Nouveaux Constructeurs (representative) ▪ Nexity ▪ Frey (retail operator associated to the consortium)

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Villes & Projets

Urban regeneration

VILLENAVE-D’ORNON (GIRONDE) Under construction ASNIÈRES (HAUTS-DE-SEINE) 60,300 sq.m

Grand Paris

LE BLANC-MESNIL (SEINE-SAINT-DENIS) 20,500 sq.m

Grand Paris

BRY-SUR-MARNE / VILLIERS-SUR-MARNE (VAL-DE-MARNE) – 140,000 sq.m

Grand Paris

VERSAILLES-CHANTIERS (78) Under construction

Grand Paris

SAINT-OUEN (SEINE-SAINT-DENIS) 75,500 sq.m

Grand Paris

MONTREUIL ACACIAS (SEINE-SAINT-DENIS) 48,240 sq.m (Nexity’s part)

Grand Paris

BORDEAUX BELVÉDÈRE (GIRONDE) 70,500 sq.m (Nexity’s part)

~637,000 sq.m

Portfolio at 31 March 2019*

(stable compared to 31 Dec. 2018)

SOLLIÈS-PONT (VAR) – 37,950 sq.m SAINT-PRIEST (RHÔNE) – 85,500 sq.m

* Floor areas are provided for information purposes only and may be subject to adjustment once administrative authorisations have been obtained

LA GARENNE-COLOMBES (HAUTS-DE-SEINE) 97,960 sq.m (Nexity’s part)

Grand Paris

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Outlook

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Long term trends for housing

Estimated number of homes required per year by 2040

(in thousands of units)

Obsolescence Plugging the construction shortfall Regional population shifts

2040 according to Nexity

Growth in number

  • f households

DEMAND FOR AT LEAST 400,000 NEW HOMES PER YEAR BY 2040, VS AN AVERAGE OF 337,000 RESERVATIONS BETWEEN 2012 AND 2018

137 128 104 103 113 135 120 101 117 107 109 124 113 109 84 85 83 100 127 130 128 322 2017 2012 2013 2014 2015 2016 2018 330 294 312 364 378 357

Developers (1) Sales Social housing (2) Financing authorisations Single-family houses (3) Sales

400-450k units

(Nexity estimate)

(1) Gross sales by developers, i.e. individual and collective housing taken together - source: Commissariat Général au Développement Durable (2) Number of homes financed, outside ANRU urban regeneration areas - source: Ministère de l’égalité des territoires et du logement – Bilan des

logements aidés 2012-2017 – Ministère de l’égalité des territoires et du logement for 2018

(3) Contracts for the construction of detached and semi-detached houses - source: Union des Maisons Françaises 2012 – LCA/FFB for 2017 and 2018

4 million

people in substandard housing and 12.1 million people in fragile situations(1)

32 million

households by 2030, +4 million compared to 2015 (2)

42%

  • f single people households by 2030,

13 million (2)

(1) Annual report #24 de la Fondation Abbé Pierre – Feb. 2019 (2) Observatoire et statistiques n°135 – August 2012 (3) Insee – DGFIP-Cnaf-Cnav-CCMSA, fichier localisé social et fiscal (4) In 2017 – source: L’économie française, 2018 edition - Insee Références

25%

share of housing spendings in households consumption expenditure in France (4)

€22,680

Average annual income (median) needed to buy a 2 room apartment of 43 sq.m in France(3)

€18,972

Average annual income (median) of a single adult in France, ie €1,581 / month(3)

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Nexity’s Backlog* at 31 March 2019

* Corresponds to the Group’s order backlog in terms of forecast revenue and number of months of development activities - According to IFRS with joint ventures proportionately consolidated

16 MONTHS REVENUE FROM DEVELOPMENT ACTIVITIES 383 486 449 487 544 465 308

4,008

4,269

  • Dec. 2015

2,869

  • Dec. 2012

2,702 2,806

  • Dec. 2013

4,491

2,834

  • Dec. 2014
  • Mar. 2019

3,464

  • Dec. 2016

3,526

  • Dec. 2017

restated

222 4,161

  • Dec. 2018

3,085 3,355 3,283 3,293 3,991 4,469 =

Residential Real Estate Commercial Real Estate

In €m, excl. VAT, including Ægide from 2018 IFRS 15 standard applied from January 2018 (2017 has been restated accordingly)

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2019 guidance

(1)Pending approval of the Shareholders’ Meeting (2) Retail sales published by ECLN + bulk sales published by Fédération des Promoteurs Immobiliers (FPI)

FINANCIAL PERFORMANCE

▪ Revenue and EBITDA expected to grow by at least 5% ▪ Dividend per share: €2.50 payable in 2019(1)

INDIVIDUAL CLIENTS

▪ New homes in France: Continued growth in Nexity’s market share, in a market that should see slight contraction at 145,000 units (2) ▪ Serviced residences (students and seniors): more than 20

  • penings of new residences

and rejuvenating 1,000 student housing units

COMMERCIAL CLIENTS

▪ Commercial Real Estate order intake: at least equal to 2018 (€349m excl. VAT) ▪ Continued growth of new services offerings (Intent,

Accessite, etc.)

LOCAL AUTHORITY CLIENTS

▪ Initiation of the largest private project in Greater Paris in La Garenne- Colombes (92)

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Our medium-term goals

▪ Compound annual growth in revenue and EBITDA of 10% ▪ Contribution of services to EBITDA by 2021: ~45% ▪ Dividend per share of at least €2.50 (1) over the period of the plan

(1) Pending the decision of Nexity’s Board of Directors and approval of the Shareholders’ Meeting (2) Retail sales published by ECLN + bulk sales published by Fédération des Promoteurs Immobiliers (FPI)

2020e 2017 2018e 2019e 2021e

3.6 4.1 5.3

+10% CAGR

461 523 680

2019e 2017 2018 2020e 2021e

+10% CAGR

EBITDA

REVENUE

In €bn in €m

FINANCIAL PERFORMANCE INDIVIDUAL CLIENTS

▪ Reservations for new homes in France: continued market share gains for Nexity (up 3 percentage points) in a stable market (160,000 reservations expected in 2021 (2)) ▪ Growth in the portfolio of units served by Nexity’s individual property management business ▪ Strong development in serviced residences

COMMERCIAL CLIENTS

▪ Commercial Real Estate order intake: about €650 million on average per year over the period of the plan

LOCAL AUTHORITY CLIENTS

▪ Reinforcement of our market position as one of the 1st private town planner in France and increase in land bank investments

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Strong and sustainable dividend policy

2020* 2019* 2017 2013 2016 2014 2015 2018 2021* ≥2.5 2022* ≥2.5 ≥2.5 2.5 2.0 2.0 2.0 2.2 2.4 2.5 Paid in:

* Pending the decision of Nexity’s Board of Directors and approval of the Shareholders’ Meeting

In € per share

Payout ratio (in % of EPS) :

79% ~100% 71%

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Corporate Social Responsibility

Non-financial ratings

2018 KEY CSR INDICATORS

▪ Women make up 31% of Nexity’s Club 100 members ▪ 10% decrease in carbon footprint per employee relative to 2014 ▪ 90% of (residential) development projects with a low-carbon assessment study at design phase ▪ 12 condominium properties renovated in 2018

NEXITY NON PROFIT

▪ Commitment to housing for the disadvantaged ▪ Target of 1,000 housing units a year at cruising speed (building permits for at least 500 housing units in 2019) ▪ Action on rental intermediation: first social tenancy agreement signed

STAKEHOLDER COMMITTEE MEDIUM-TERM TARGETS

▪ Reduce Greenhouse gas emissions by 2030 by: >

  • 30% per new home delivered,

>

  • 21% per sq.m of floor area for office space,

>

  • 35% per employee

▪ Breakdown of targets to each Client : energy renovation, circular economy, responsible procurement, etc.

MANAGEMENT REMUNERATION

▪ 14 external stakeholders ▪ Set-up in 2018 ▪ Advisory proposal-making body which met on a regular basis ▪ CSR objectives included in variable remuneration of Executive Committee members (up to 20%) ▪ CSR objectives included in variable remuneration of Club 100 members

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3.2% 69.6% 6.4% 14.2% 5.3%

(1) o/w treasury shares: 729,980 shares (1.3%) (2) New Port: 8.0% (3) o/w FCPE (Nexity Actions and Nexity Levier 2017): 2.7%

56,129,724 shares(1)

Nexity’s ownership structure

31 MARCH 2019

FCPE and other employees (3)

  • A. Dinin, New Port (2) and other Nexity’s managers

belonging to the concert group Crédit Mutuel Arkéa Crédit Agricole Assurances 5.3% 14.2% 3.2% Free float 6.4% 69.6% Concert group 19.5% ▪ Share buyback programme: 656.129 shares acquired to date to offset the dilution potentially caused by the vesting of free shares plans ▪ New Port stake grew from 6.1% to 8.0% between October and March 2019

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Change in governance – 22 May 2019 (Shareholders’ Meeting)

Alain Dinin, Nexity’s Chairman and CEO, has proposed to separate the roles of Chairman and CEO:

  • As Chairman of the Board of Directors, Alain Dinin would work with the Board to determine the Group’s strategy and oversee the

implementation and growth of Nexity’s real estate services platform. More generally, he would focus on scaling up the Group’s CSR approach, raising awareness of Nexity’s actions and ensuring compliance with its financial commitments.

  • Jean-Philippe Ruggieri would be appointed as Nexity’s CEO and company officer. Having worked alongside Alain Dinin for the past 15

years, he was responsible for initiating and implementing the real estate services platform based on his development activities in Residential Real Estate.

  • Julien Carmona would be reappointed as Deputy CEO and company officer.

Together with Deputy CEOs Véronique Bédague-Hamilius and Frédéric Verdavaine, they would be responsible for guiding, transforming and developing the Group as it pursues its ambition of dynamic growth. Subject to the renewal of Alain Dinin’s term of office as a director at the Shareholders’ Meeting and the subsequent meeting of the Board of Directors, this governance scheme would take effect on 22 May 2019.

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Appendix

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New reporting standard: IFRS 15 Revenue from contracts with customers

▪ Percentage-of-completion principle maintained for real estate development activities in France, but percentage of completion must be calculated based on all inventoriable costs (including land) ▪ Faster recognition of revenue and margins with corresponding decrease in the backlog ▪ Operating profit more closely correlated to fluctuations in business activity

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Individual Clients

2018 KEY FIGURES

▪ Residential Real Estate – 19,609 new home reservations, +7% in volume, +10% in value – 12.4% market share* (compared to 10.9% in 2017) – Buisness potential: 53,602 units (+13% compared to 2017) ▪ Real Estate Services to Individuals – 897,000 units under management in property management for individuals (+0.8% vs 2017) – 25,000 housing units in serviced residences (Studéa + Domitys)

2018 HIGHLIGHTS

▪ Strong new home reservations thanks to multi products, multiservices and multi brand strategy ▪ Acquisition of Ægide-Domitys ▪ 11 new Domitys’ residences opened

2019 OUTLOOK

▪ Growth in market share in a new housing market (retail and bulk sales)* set to decline to around 145,000 units in 2019 ▪ Serviced residences (students and seniors): the Group expects to open over 20 new residences in 2019 while rejuvenating 1,000 student housing units

2021 OBJECTIVES

▪ Reservations for new homes in France: continued market share gains for Nexity (up 3 percentage points) in a stable market (160,000 reservations expected in 2021)* ▪ Growth in the portfolio of units served by Nexity’s individual property management business ▪ Strong development in serviced residences

Sources: Commissariat Général au Développement Durable (Sit@del2 basis for retail sales and Fédération des Promoteurs Immobiliers for bulk sales - Nexity’s estimate for 2019

Margin rate

(as a % of revenue)

13.4%

Vs 13.2% in 2017

21.5%

Vs 21.9% in 2017

10.7%

Vs 10.2% in 2017

902 (25%) 2,350 (74%) 2017 810 (26%) 2,648 (75%) 2018

3,160 3,550 +12%

Residential Real Estate Real Estate Services to Individuals 239 (57%) 284 (59%) 2017 177 (43%) 194 (41%) 2018

417 477 +15%

REVENUE EBITDA

(In €m) (in €m)

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Building permits and housing starts

Source: Commissariat Général au Développement Durable (CGDD)

445,700

  • Mar. 16
  • Mar. 18
  • Mar. 17
  • Mar. 19

485,300

  • 8.2%

433,200 410,700

  • Mar. 19
  • Mar. 18
  • Mar. 16
  • Mar. 17
  • 5.2%

Building permits down 8.9% over the last three months

Housing starts down 7.8% over the last three months

BUILDING PERMITS

(in units, 12 months rolling)

HOUSING STARTS

(in units, 12 months rolling)

INDIVIDUAL CLIENTS

Residential Real Estate

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Historical evolution of building permits

100,000 80,000 120,000 40,000 20,000 140,000 60,000 160,000 2001 Q1 2008 Q1 2014 Q1

Source: Commissariat Général au Développement Durable (CGDD)

(in units, quarterly basis)

Municipal elections

INDIVIDUAL CLIENTS

Residential Real Estate

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Nexity reservations in France by area – Q1 2019

Paris region Rest of France

Retail sales: +3% in Paris region, +25% for the rest of France

Bulk sales: -87% in Paris region, +96% for the rest of France

Temporary overweighting of activity made in the rest of France 29%

Q1 2017

39% 71% 61% 55% 45%

Q1 2018 Q1 2019

3,506 3,618 3,883 +7% 45% 37% 55% 49%

Q1 2018 Q1 2017

51% 63%

Q1 2019

655 715 773 +8%

  • 32%

+39%

  • 22%

+40%

INDIVIDUAL CLIENTS

Residential Real Estate

VOLUME

(in units, including Ægide from 1 July 2018)

VALUE

(in €m incl. VAT, including Ægide from 1 July 2018))

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Launches

T1

Decrease in number of units launched: -6% (49 compared to 52 in Q1 2018)

Growing difficulty to obtain administrative authorisations

Careful approach from Nexity 19,585

2018 2016 2017

7,977 4,331 2,635 3,742 3,535

2019

13,976 21,607

  • 25%

NUMBER OF UNITS LAUNCHED

(in units, incl. Ægide from 1 July 2018)

INDIVIDUAL CLIENTS

Residential Real Estate

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# New construction processes # BIM # Mass purchasing # Industrialisation # Innovative marketing methods # Digitisation # Operating efficiency

Control of production cost of new homes*

22% 50% 8% 8% 7% 4% 1% 2018 100%

* Average cost of programmes

Borrowing costs Marketing & Advertising Professional fees & insurance Internal fixed costs Construction costs Roads, utilities Development rights

# Positioning in large projects # Local authority partnerships – calls for projects # Land bank investment vehicle

Medium-term development Nexity’s responses Costs structure

INDIVIDUAL CLIENTS

Residential Real Estate

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Live in the sky… in a vertical village: Emblématik (Aubervilliers – Seine-Saint-Denis)

Useful, desirable, affordable, minimal and vegetal

Project manager: Castro Denissof Associés

INDIVIDUAL CLIENTS

Residential Real Estate

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Eugénie connects…

2018 KEY FIGURES ▪ 9 residences delivered ▪ 221 housing units connected

INDIVIDUAL CLIENTS

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ENERGY EFFICIENCY WORKS

# NEXITY IS A COMMITTED OPERATOR THAT WORKS CLOSELY WITH PUBLIC BODIES

2018 : signing of a Green Deal with Plan Bâtiment Durable & signing of the Habiter Mieux Charter of commitment of Anah (National Agency for the Improvement of Habitat)

  • 2018: more than 350 employees trained // more than 100 employees (Nexity and Oralia) have participated in

workshops (awareness, identification of targeted condominium, etc.) and have contributed to the emergence of new projects // more than 100 building representatives met during clients events, roundtables or dedicated meetings (around 500 co-owners)

  • 2019 - 2020 : minimum of 20 employees specialising in “COACH RÉNOVATION”

# NEXITY OFFERS ITS CUSTOMERS A COMPREHENSIVE RANGE OF SERVICES

  • Effective technical, social and financial support and “turnkey” services for condominium properties
  • In 2018: 10 condominium properties have been renovated
  • 2018: 100 have expressed interest of which:
  • 9 buildings (≈ 1,200 units) at work stage in 2019
  • 36 buildings (≈ 5,400 units) in project management phase
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Ægide-Domitys – 2018 key figures

> Financials (IFRS standards) > Business activity

H2 2018 FY 2018 Revenue €175m €331m

  • /w Ægide (development)

€83m €156m

  • /w Domitys (management)

€91m €175m

EBITDA €35m €57m

  • /w Ægide (development)

€9m €15m

  • /w Domitys (management)

€30m €49m

  • /w Holding
  • €4m
  • €7m

Goodwill €289m IFRS 16 lease payments €474m Debt before IFRS 16 €73m

Total Ægide

  • incl. Nexity

FY FY 2018 2018 New home reservations in volume 856 units 549 units 1,405 units 2,456 units New home reservations in value €162.0m €116.4m €278.4m €488.0m Supply for sale

  • 198 units

232 units Business potential

  • 2,562 units 4,515 units

Backlog

  • €246m
  • Total Ægide
  • excl. joint venture with Nexity

DEVELOPMENT

H1 2018 H2 2018

SERVICED RESIDENCES

FY 2017 FY 2018 Number of residences 72 83

  • /w "cruising-speed" residences

34 48 Average occupancy rate of "cruising-speed" residences 99% 97%

Units under management 8,438 9,805

+16% vs 2017

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Commercial Clients

2018 KEY FIGURES

▪ Commercial Real Estate – €349m order intake – Business potential: €2.8bn (+80% compared to 2017) ▪ Real Estate Services to Companies – 18.6 million sq.m of floor areas under management of which 8 million sq.m in technical management only

2018 HIGHLIGHTS

▪ Creation of Nexity Enterprise Solutions ▪ Offices : 126,000 sq.m delivered on 15 operations ▪ Property management : services agreement with Enedis and EDF (2 million sq.m) ▪ Major operation in La Garenne-Colombes (Hauts-de-Seine) (Engie eco- campus)

2019 OUTLOOK

▪ Order intake volume at least equal to 2018 (€349m excl. VAT) ▪ Continued growth of new service offerings (Intent, Accessite, etc.)

2021 OBJECTIVES

▪ Commercial Real Estate order intake: about €650 million on average per year over the period of the plan

REVENUE EBITDA

Margin rate

(as a % of revenue)

12.3%

Vs 16.5% in 2017

10.0%

Vs 7.8% in 2017

12.7%

Vs 18.1% in 2017

343 (84%) 63 (16%) 512 (88%) 2017 2018 69 (12%)

407 581 +43%

62 (93%) 65 (90%) 5 (7%) 2017 7 (10%) 2018

67 72 +7%

Commercial Real Estate Real Estate Services to Companies

(In €m) (in €m)

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Nexity / Investor Presentation - May 2019

New order intake and backlog

544 190 403 356

151 183 250 166

349

2016 2013 2018 2015 2014 2017

402 308

31 Dec. 2018

+9

Q1 2019

  • rder intake

Additional work and other adjustments

  • 98

31 Mar. 2019

Q1 2019 revenue

+3 222 349

Q1 2019

9

2019 target

Paris region Rest of France

▪ Backlog is equivalent to 5 months’ revenue from development activities (Commercial Real Estate revenue basis, 12 months rolling period)

Average: 374

▪ Given the outlook for the various projects currently in the structuring phase, the 2019 target is confirmed

ORDER INTAKE

(in €m)

BACKLOG

(in €m)

COMMERCIAL CLIENTS

Commercial Real Estate

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Nexity / Investor Presentation - May 2019

Local Authority Clients

▪ Portfolio*: ~635,000 sq.m, +8% ▪ Land bank: €130 million**

▪ Major operation in La Garenne-Colombes (Hauts- de-Seine) (Engie eco-campus) ▪ Réinventer Paris 2: Aérog’Art in the center of Paris (Invalides), joint-venture with Emerige ▪ Initiation of the largest private sector project in Greater Paris in La Garenne-Colombes (Hauts-de-Seine) ▪ Reinforcement of our market position as the 1st private town planner in France and increase in land bank investments

2018 KEY FIGURES 2018 HIGHLIGHTS 2019 OUTLOOK 2021 OBJECTIVES AÉROG’ART

Restoration project of the largest Air France sales agency Architect: Dominique Perrault – DP Architecture Réinventer Paris 2 joint-venture with Emerige ~7,500 sq.m including an arts and craft gallery, a children museum, a food court and a restaurant

* Floor areas are provided for information purposes only and may be subject to adjustment once administrative authorisations have been obtained ** Represents the amount of projects in France for which the Group has acquired development rights, before obtaining a building permit and in some cases planning permissions, expressed as an amount recognised within the working capital requirement

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Nexity / Investor Presentation - May 2019

2018 Current operating profit

321 353 61 64

  • 43
  • 45

338

2017 retraité 2018

373 +10.3%

9.5% 10.1% 10.0% 14.9% 11.0%

9.0%

2018 Individual Clients Commercial Clients Other activities 2017 restated 2018 2017 restated 2018 2017 restated

+€3m +€33m

>

€382m on a like-for-like basis; margin rate at 9.6%, similar to 2017 level

CURRENT OPERATING PROFIT

(in €m and margin rate in %)

CURRENT OPERATING MARGIN

(in %) Individual Clients Commercial Clients Group

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Nexity / Investor Presentation - May 2019

2018 cash-flow statement

▪ Net cash from financial investments: €78m mainly corresponds to external growth transactions (acquisition of 18% of Ægide, a majority stake in Morning Coworking and several firms in property management for individuals) ▪ Net cash from financing activities: €51m corresponds to new borrowings net of redemptions (€39m), to the ORNANE bond issue (€200m) less the redemption of a bond (-€135m), payments relating to commitments to buy out minority interests over the period (-€34m) and the cost of the share buyback programme (-€20m)

In €m FY 2018 FY 2017 restated Cash flow from operating activities before interest and tax expenses 508 448 Cash flow from operating activities after interest and tax expenses 350 311 Change in operating Working capital (excluding tax) (102) (64) Change in tax-related working capital, dividends from equity-accounted investments and other 22 17 Net cash from / (used in) operating investments (48) (33) Free cash flow 222 232 Net cash from / (used in) financial investments (78) (10) IFRS lease payments made (104) (80) Dividends paid by Nexity SA (140) (133) Net cash from / (used in) financing activities (excluding dividend) 51 132 Change in cash and cash equivalents (50) 141

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Nexity / Investor Presentation - May 2019

Financial debt schedule (before IFRS 16) at 31 December 2018

41

  • 319

164 (1)

  • 1,231

5

  • 1,549

97 436(3) 456(2) 351(4)

Drawn at 31/12/2018 2019 2020 2021 2022 2023 2024 Corporate borrowings Project related loans

(1) Including €25m of bonds issued in May 2014 (2) Including €146m of bonds issued in May 2014 (3) €270m of convertible bonds (incl. shareholders’ equity) issued in May 2016 (maturity date 1 January 2023) + €30m of bonds issued un June 2017 (4) €121m of bonds issued in June 2017 / €200m of convertible bonds issued in March 2018

>25% of debt with maturity > 5 years >Average maturity: 3.7 years >Cost of financing (debt drawn down): 2.6% at end 2018 (2.9% in 2017)

2025

(in €m)

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Tél. : +33 (0)1 85 55 12 12 19, rue de Vienne 75 008 Paris