INVESTOR PRESENTATION MARCH 2017 CONTENTS Distribution targets / - - PowerPoint PPT Presentation

MAS REAL ESTATE INC

INVESTOR PRESENTATION

MARCH 2017

Distribution targets / / / / / / / / / / / / 2 Pipeline

• Western Europe / / / / / / / / / / / / /6
• CEE / / / / / / / / / / / / / / / / / / / / / / / 12

CONTENTS

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INVESTOR PRESENTATION 2017 MAS REAL ESTATE INC

DISTRIBUTION

12.0 10.0 8.0 6.0 4.0 2.0 0.0

2014 2015 2016 2017 2018 2019

EURO CENTS 0.6 1.15 2.20 3.35 2.27 2.23 4.50 2.66 3.191 5.851 7.611 9.891 1.24 1.84

developments reported on above will progress in accordance with expectations / This forecast has not been reviewed or reported on by MAS’ auditors / TARGET DISTRIBUTION PER SHARE H2 DISTRIBUTION PER SHARE H1 DISTRIBUTION PER SHARE

DISTRIBUTION PER SHARE +82% +34% +30% +30% +30%

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MAS REAL ESTATE INC INVESTOR PRESENTATION 2017

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INVESTOR PRESENTATION 2017 MAS REAL ESTATE INC

Edinburgh Offjce Isle of Man Headquarters London Offjce Frankfurt Offjce Poland Offjce Prime Kapital Offjce NUMBER OF INCOME-GENERATING PROPERTIES NUMBER OF DEVELOPMENT PROPERTIES

2 1 8 4 37 1 1

UK SWITZERLAND SLOVENIA GERMANY POLAND ROMANIA

56%

23% 17% 4%

GERMANY UK POLAND SWITZERLAND

€28.01 MILLION PASSING RENT 4

MAS REAL ESTATE INC INVESTOR PRESENTATION 2017

CAPITAL ALLOCATION

PIPELINE

INCOME-GENERATING DEVELOPMENT 50 100 150 200 250 300 350 400 450 500

PK DEVELOPMENT JV FURTHER PIPELINE

19% 28% 53% 190 282 >50 150

PK INVESTMENT JV SECURED W EUROPEAN DEVELOPMENTS COMMITTED

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INVESTOR PRESENTATION 2017 MAS REAL ESTATE INC Euro millions

PIPELINE – WESTERN EUROPE/

NEW WAVERLEY PHASE II

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PIPELINE – WESTERN EUROPE

PHASE II NEW WAVERLEY - OFFICE

Phase I of the New Waverley development delivered three hotels and twenty two new retail

• units. Phase II is set to deliver a signifjcant mix of

new offjce, retail and residential uses. The group has been chosen to deliver approximately 19 000 square metres of Grade A offjce space on a pre- let to a signifjcant tenant, and is in the process

• f fjnalising detailed design and leasing
• agreements. The tenant will have an option to
• ccupy up to 3 000 square metres
• f additional offjce space which

would be delivered adjacent to the fjrst proposed offjce building. Construction is set to begin in March 2017 for completion in mid-2019 /

COMPLETION

FY2019E

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MAS REAL ESTATE INC INVESTOR PRESENTATION 2017

PHASE II NEW WAVERLEY - RESIDENTIAL

Pre-letting discussions for the balance of the site are also underway to residential sector occupiers and investors / Discussions are underway with city planners regarding various

• ptions / Attractive development and

investment funding is being negotiated to fund the delivery of this next phase of development /

COMPLETION

FY2019E

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INVESTOR PRESENTATION 2017 MAS REAL ESTATE INC

PIPELINE – WESTERN EUROPE

PIPELINE – WESTERN EUROPE/

NEW WAVERLEY PHASE II

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PIPELINE – CENTRAL & EASTERN EUROPE/

BALOTESTI RETAIL VALUE CENTRE

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MAS REAL ESTATE INC INVESTOR PRESENTATION 2017

The planned power centre development will be integrated with Hornbach and the new Lidl on the adjacent sites, extending the combined 18 122 m2 of GLA of these two operators by an additional 28 000 m2 of GLA in the fjrst phase, with a substantial further extension to be developed at a later stage /

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INVESTOR PRESENTATION 2017 MAS REAL ESTATE INC

UNDERPASS DN1 - 4 LANE NATIONAL ROAD

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MAS REAL ESTATE INC INVESTOR PRESENTATION 2017

PIPELINE – CENTRAL & EASTERN EUROPE

LOCATION & CATCHMENT AREA

32 000

people within 10’ drive

85 000

people within 15’ drive

118 000

people within 20’ drive

137 000

people within 30’ drive

35 000+ cars

daily commuter traffjc

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INVESTOR PRESENTATION 2017 MAS REAL ESTATE INC

PIPELINE – CENTRAL & EASTERN EUROPE/

KAUFLAND VALUE EXTENSIONS

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MAS REAL ESTATE INC INVESTOR PRESENTATION 2017

The developments consist of 5 non-food extensions to Kaufmand hypermarkets in various smaller Romanian cities, with low coverage from existing or planned retail schemes, with a combined additional 20 000 m² of GLA. The extensions benefjt from the footfall generated by the existing approximately 25 000 m2 of GLA Kaufmand hypermarkets, typically with excellent locations in dense populated areas with good visibility and access to public transport /

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PIPELINE – CENTRAL & EASTERN EUROPE

KAUFLAND – FOCSANI VALUE EXTENSION

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PIPELINE – CENTRAL & EASTERN EUROPE

KAUFLAND – FAGARAS VALUE EXTENSION

PIPELINE – CENTRAL & EASTERN EUROPE/

KAUFLAND – FAGARAS VALUE EXTENSION

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PIPELINE – CENTRAL & EASTERN EUROPE

KAUFLAND – SEBES VALUE EXTENSION

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PIPELINE – CENTRAL & EASTERN EUROPE

KAUFLAND – TARGU SECUIESC VALUE EXTENSION

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PIPELINE – CENTRAL & EASTERN EUROPE

KAUFLAND – RAMNICU SARAT VALUE EXTENSION

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PIPELINE CENTRAL & EASTERN EUROPE

PLOIESTI RETAIL VALUE CENTRE

MAIN CITY PASSENGER TERMINAL MAIN CITY BOULEVARD

Development of a former industrial platform adjacent to a dense residential area, in close proximity to the city’s main train station, tram station and bus station with high visibility and very good road access / Current planned development of 25 560 m² of GLA with a high concentration of anchor tenants integrated with the existing adjacent Kaufmand hypermarket and planned Lidl supermarket. The city is an important industrial centre hosting major production facilities for leading international oil, chemical and automotive players as well as an important distribution hub for the wider area /

DIRECT CONNECTION FROM BRIDGE 250M TO CENTRAL TERMINALS

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PIPELINE – CENTRAL & EASTERN EUROPE

CATCHMENT AREA

96 000

people within walking distance

565 000

people within 30’ drive

750 000

total catchment Ploiesti, with 210 000 inhabitants and the capital of Prahova county (760 000 inhabitants), is placed centrally in the larger urban agglomeration emerging north of Bucharest /

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PIPELINE CENTRAL & EASTERN EUROPE

EMONIKA

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INVESTOR PRESENTATION 2017 MAS REAL ESTATE INC

Ljubljana is the capital city of Slovenia and the largest city in the country with a population of approximately 280 000 / Average income per capita in the city is at 116% of the national average. Slovenia benefjts from signifjcantly higher per capita purchasing power than other CEE countries and yet Ljubljana lacks a large modern and centrally located mall. Emonika will be the fjrst modern mall in Ljubljana and integrated with the new central train and bus terminal, as well as the fjrst A grade offjces in city centre with a new hotel. The project benefjts from an excellent location due to the prominent and highly visible central location, surrounded by dense residential and offjce elements, is well served by public transport and lies on the main traffjc routes that connect the city centre with the main regional road and rail network /

59 000 m2

retail GLA

21 000 m2

• ffjce & hotel GLA

PIPELINE – CENTRAL & EASTERN EUROPE

THE PROJECT

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2016 CONSUMPTION PER CAPITA SLOVENIA LITHUANIA ESTONIA SLOVAKIA LATVIA CZECH REPUBLIC POLAND HUNGARY ROMANIA BULGARIA €1,000 €2,000 €3,000 €4,000 €5,000 €6,000 €7,000 €8,000 €9,000 €10,000

305 000

people within 15’ drive

€1.5b

annual spending on FMCG, Clothing & Footwear, Durable goods

560 000

people within 30’ drive

€2.6b

annual spending on FMCG, Clothing & Footwear, Durable goods

650 000

total catchment

€3.2b

annual spending on FMCG, Clothing & Footwear, Durable goods

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MAS REAL ESTATE INC

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