PRESENTATION ACCOLADE INDUSTRIAL FUND We invest in smart Industrial Parks for a sustainable future May 2020
CONTENT Why to invest in Industrial Real Estate Our Parks Accolade Industrial Fund Investments with Accolade Upcoming Projects Key Personnel
OUR TENANTS LOGISTICS PRODUCTION RETAIL & E-COMMERCE
WHY TO INVEST IN INDUSTRIAL REAL ESTATE? PROPERTY YIELDS INDUSTRIAL PROPERTY PRIME YIELDS IN CZ, PL, DE (BY YEAR) 9 CZ 5.25% 5.00% 8 4.25% 3.25% 7 6 5 4 Industrial Shopping Offjces Residental property malls 3 2 PL 1 5.75% 0 5.25% 4.25% 07 08 09 10 11 12 13 14 15 16 17 18 19 year Czech Republic Germany Poland epublika o o Industrial Shopping Offjces property malls • Industrial properties are one of the most profjtable real estate investment DE • Long-term lease agreements 4.25% • Higher solvency of tenants 3.60% 2.60% • Rents are stable or growing in the long term source: CBRE Industrial Shopping Offjces property malls 4
INDUSTRIAL PROPERTIES MARKET CZECH REPUBLIC VACANCY 1Q 2020 INDUSTRIAL BUILDINGS: • Total stock of modern A-class warehouse and industrial properties is 8.62 million sq m. 5.52% • Net efgective rent ranges between EUR 3.50-4.50 per sq m per month. • Average lease transaction size is 5,800 sq m. NEW PROPERTIES New supply of industrial properties in the Czech Republic (thousands of sq m) 1 000 OFFICES: 829 900 744 5.40% 735 800 662 623 700 568 501 600 448 500 359 400 282 258 213 210 210 300 198 200 100 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Q1 Source: CBRE 5
INDUSTRIAL PROPERTIES MARKET POLAND VACANCY 1Q 2020 INDUSTRIAL BUILDINGS: Total stock of modern A-class warehouse and industrial properties is 18.86 million sq m. 7.14% • Net efgective rent ranges between EUR 2.00-4.70 per sq m per month. NEW PROPERTIES New supply of industrial properties in Poland (thousands of sq m) 3 500 OFFICES: 2,717 8.44% 3 000 2,270 2,177 2,500 2,000 1,122 1,500 1,062 980 926 1,000 430 416 355 304 242 500 0 2009 20 10 20 11 20 12 2013 20 14 20 15 20 16 20 17 20 18 20 19 2020 Q1 source: CBRE 6
INDUSTRIAL PROPERTIES MARKET GERMANY VACANCY 1Q 2020 INDUSTRIAL BUILDINGS: • Total stock of modern A-class warehouse and industrial properties is 81.00 million sqm. 2.40% • Net efgective rent ranges between EUR 3.80-7.15 per sq m per month. OFFICES: 3.40% INDUSTRIAL PARK ALSDORF, GERMANY source: CBRE 7
UNIQUENESS OF OUR PARKS SUFFICIENT NUMBER AND HIGH • Strategic location with quality infrastructure POSITION IS THE KEY QUALITY OF WORKFORCE • Tenants of global brands from e-commerce, logistics and production LOGISTIC ACCESSIBILITY TO EXCELLENT ACCESS FOR TRANSPORT THE TENANTS TARGET MARKET • Modern halls with environmentally friendly technologies • Support for the economic growth of the region GOOD STRATEGIC POSITION LOCATION THAT MEETS NEEDS • Rebirth of traditions - revitalization of brownfjelds IN THE REGION OF SUPPLIERS AND CONSUMERS The diversifjcation of our portfolio from the perspective of the tenant industry and the region ensures our fund's stability and excellent results. PRAGUE GERMAN BORDER CHEB (155 km, 120 min) (14.3 km, 10 min) (5.1 km, 11 min) EXIT 164 T.F.S. DHL INTERNATIONAL BWI TCHIBO D6 INDUSTRIAL PARK CHEB, CZECH REPUBLIC 8 8
MODER INDUSTRIAL PARKS FOR SUSTAINABLE FUTURE Accolade is a socially responsible investment group with commitments to its investors, tenants, business partners, but also to society, the environment, and its employees. Sustainable development is key for Accolade. Our ESG strategy includes our commitments. In addition to creating new locations, the Fund’s long-term goal is to revitalize existing brownfjelds. Brownfjelds overall accounts for nearly 40 percent of the Fund’s portfolio, in Poland alone it is almost half. BREEAM OUTSTANDING EXCELLENT VERY GOOD GOOD TOTAL BREEAM — FINISHED PROJECTS 666,207 SQ M / 11,153 sq m 239,767 sq m 415,287 sq m E – ENVIRONMENTAL S – SOCIAL G – GOVERNANCE WE INVEST AND DO BUSINESS IN WE SUPPORT BENEFICIAL TRANSPARENCY HARMONY WITH ENVIRONMENTAL PROJECTS FOR THE SOCIETY IN THE AND FAIRNESS IS FOR PROTECTION. REGIONS WHERE WE OPERATE. US PRIORITY. 9
PARKS IN ACCOLADE INDUSTRIAL FUND ACCOLADE INDUSTRIAL FUND BIAŁYSTOK BYDGOSZCZ SZCZECIN SZCZECIN ZIELONA GÓRA ZIELONA GÓRA LUBLIN LEGNICA KIELCE ALSDORF PAVLOV TÝNIŠTĚ CHEB II NAD ORLICÍ CHEB HOŘOVICE STŘÍBRO STŘÍBRO PŘEŠTICE PARKS IN THE FUND PARKS IN PROCESS 10
OUR PARKS CZECH REPUBLIC, POLAND , GERMANY CHEB OSTROV U STŘÍBRA PŘEŠTICE HOŘOVICE TÝNIŠTĚ NAD ORLICÍ PAVLOV SZCZECIN LUBLIN BYDGOSZCZ 11
OUR PARKS CZECH REPUBLIC, POLAND , GERMANY ZIELONA GORA KIELCE LEGNICA BIAŁYSTOK ALSDORF CHEB IN PROCESS ZIELONA GORA CHEB II SZCZECIN OSTROV U STŘÍBRA IN PROCESS IN PROCESS IN PROCESS IN PROCESS 12
OUR FUND IN NUMBERS 59 7 % tenants expected return p.a. 14 943 industrial parks investors ACCOLADE INDUSTRIAL FUND INVESTMENTS AS OF 31.3.2020 EUR: 38.999 million: annual revenue from lease agreements EUR: 574.073 million: total value of Accolade Industrial Fund 790,252 sq m: gross leasable area ESTIMATED VALUE OF ACCOLADE INDUSTRIAL FUND INVESTMENTS WITH THE POTENTIAL PROJECTS AS OF 31.3.2022 +7% EUR 64.698 million: annual revenue from lease agreements EXPECTED RETURN p.a. EUR 962.905 million: total value of Accolade Industrial Fund 1,306,672 sq m: gross leasable area 13
ACCOLADE INDUSTRIAL FUND CURRENT PROJECTS LOCATION COUNTRY VALUATION GLA (sq m) LEASE TERM WAULT LTV A - projects in fund Park Hořovice Czech Republic 21,430,000 € 34,780 6-10 years 6.00 Park Cheb Czech Republic 101,860,000 € 147,227 5-15 years 4.84 Park Stříbro Czech Republic 93,634,000 € 111,484 7-17 years 8.74 Park Pavlov Czech Republic 8,230,000 € 11,149 5 years 1.63 Park Týniště nad Orlicí Czech Republic 8,520,000 € 9,783 10 years 7.66 Park Přeštice Czech Republic 16,600,000 € 14,015 16 years 14.42 Park Szczecin Poland 96,520,000 € 147,694 2-11 years 13.73 Park Bydgoszcz Poland 31,510,000 € 50,109 3-6 years 1.90 Park Zielona Gora Poland 56,370,000 € 81,224 3-10 years 4.92 Park Lublin Poland 53,444,000 € 73,478 4-10 years 5.12 Park Kielce Poland 26,440,000 € 36,313 7-10 years 8.80 Park Bialystok Poland 31,630,000 € 42,188 3-10 years 5.34 Park Legnica Poland 19,830,000 € 23,294 10 years 9.33 Park Alsdorf Germany 8,055,000 € 7,512 10 years 9.34 TOTAL 574,073,000 € 790,252 6.24 55.76% LOCATION ASSUMED ACQUISITION COUNTRY VALUATION GLA (sq m) LEASE TERM WAULT LTV B – projects in process Park Cheb II 2Q 2020 Czech Republic 20,100,000 € 27,376 10 years 10,00 Park Stříbro (expansion) 2Q 2020 Czech Republic 12,500,000 € 11,714 10 years 10.00 Park Cheb (expansion) 3Q 2020 Czech Republic 12,700,000 € 12,898 10 years 10.00 Park Stříbro (expansion) 3Q 2020 Czech Republic 25,000,000 € 25,585 30 years 30.00 Park Szczecin (expansion) 3Q 2020 Poland 15,600,000 € 24,035 5 years 5.00 Park Zielona Gora (expansion) 3Q 2020 Poland 12,750,000 € 11,626 5-7 years 6.65 TOTAL 98,650,000 € 113,234 12.70 70.00% 14
ACCOLADE INDUSTRIAL FUND BANK FINANCING 320.110 mil. EUR ANNUAL RENTAL INCOME OF 574.073 mil. EUR Santander 24.6% Poland 55.0% Erste Bank 19.2% Czech Republic 43.6% Pekao 18.5% Germany 1.4% 15.3% UniCredit 13.5% mBank 7.5% ČSOB Sparkasse 1.4% TOTAL LEASED-UP AREA 790,252 SQ M RENTAL ANNUAL INCOME OF 38.999 mil. EUR % share of industries in leased-up area % share of tenants in rental annual income 10.2% DHL 8.0% KION Group E-commerce 28.4% Tchibo 6.6% Logistics 27.5% Pierce 4.4% Automotive 13.4% Assa Abloy 4.4% Engineering 12.6% Expondo 4.1% Retail 9.9% 3.7% Raben 7.6% Eletrical 3.4% ABC Autoparts 0.3% IT recycling Oponeo 3.3% 0.3% Plastic piping Gates 3.1% Vive 3.1% Others 45.7% 15
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