Fast and sustainable, profitable growth. Company profile (April 219)
FCR Immobilien AG business model FCR with a clear orientation and great potential for increase in value Clear profile FCR Immobilien AG is a dynamically growing real estate investor operating nationwide. Portfolio holder Developer Seller Robust business model Positioning as a commercial real estate specialist, primary focus on shopping centres and retail parks in secondary locations Covering the entire value-creation chain (acquisition, active asset management, divestment) Rental income from highly profitable portfolio properties and from property sales Stability and security through high, recurring rental income from tier-one tenants, solid financing and substantial hidden reserves in the real estate portfolio Efficient corporate structure (as on 31 December 218) Experienced management team FCR Immobilien AG FCR Verwaltungs GmbH Limited partnership [KG] shares FCR Service GmbH FCR Innovation GmbH 59 property management companies Highly efficient, slim group/organisational structure; scale effects can be realised to a significant extent Registered office in Munich 213: transformation into 3 employees stock corporation [AG] Falk Raudies Founder and CEO Professor Dr Franz-Joseph Busse Chairman of the Supervisory Board Arwed Fischer Deputy Chairman of the Supervisory Board Frank Fleschenberg Supervisory Board 2
FCR Immobilien AG: positioning and strategy Further expansion of dynamic value creation through a consistent growth strategy based on existing success factors FCR growth strategies Consistent market penetration (Development of market position) Markets Germany Asset classes Commerce + Germany Austria Selective, profit-oriented market development (development of business model) Italy Spain Commerce Hotels Office Residential Continuous business development based on existing success factors: first-rate know-how - long-term experience - broad network - excellent market access 3
FCR Immobilien AG: Investment highlights (7/218 2/219) Forecast for 218 very cleary exceeded 7/218 9/218 1/218 11/218 2/219 Boosting equity: Full placement of 6.% bond: Largest acquisition in the history of FCR: IPO FCR AG (7 Nov 218): Increase in the market value of the FCR portfolio: Increase of capital Stock: Forcecast for 218 very cleary exceeded: Successful completion capital increase, equity increases by 1 million Successful placement: German investment fund for bonds of medium-sized enterprises invests in FCR Immobilien AG 6.% bond Issue volume of 25 million is to be used for further growth Purchase of the Schlossgalerie in Rastatt (commercial space approx. 22, m², actual rental income p.a. 2.9 million) Key indicators continue to improve: NAV per share increases to 18.5 Overall rental income p.a. increases to more than 13 million SMC Research: Niche strategy with high potential Rating: Buy First Berlin Equity Research: Going long small town retail ; Rating: Buy EDISON (Scale research report): High-growth German property investor Acquisition portfolio with12 properties (Commercial space approx. 5, m², actual rental income p.a. 2.6 million) Public offer: Subscription period: 19 February to 6 March 219, Subscription price: 17.5 per New Share (price is below NAV of 21.16) City passage in Salzgitter sold: Double-digit million amount as sales proceeds, profit is in the mid single-digit million range Turnover: 37. million (+ 126%) EBITDA: 1.1 million (+ 16%) FFO: 5.1 million (+ 142%) 4
FCR Immobilien AG portfolio Current portfolio strong in returns and potential with first-rate tenants Portfolio structure (as on 31 December 218) (annualised based on actual net rental income) Segments: 88.4% retail, 5.7% hotels, 4.3% residential, 1.6% office Countries: Germany (West 63.%, East 31.3%), international 5.7% Regions: nationwide, e.g. 23.1% in Lower Saxony, 19.9% in Baden- Württemberg, 16.3% in Thuringia, 12.1% in North Rhine-Westphalia 5
Sales 218 With nine sales, a profit of almost 5 million was achieved Property Profit (in million) Holding period (in months) Return (in %) Equity capital return (in %) Wismar 1.9 28 32.6 94.7 Dresden.4 6 2.1 95.2 Twistringen.6 14 6.9 442.7 Triptis.2 18 3.8 76.7 Bernburg.5 13 48. 378.8 Seelze 1.3 14 37.4 19.4 Bückeburg.4 18 16.1 92.1 Nienburg.2 28 31.2 213.8 Burgdorf.4 17 13.7 73.3 Total 4.9 Ø 22 Ø 32.3 % Ø 254 % 6
Key portfolio indicators 214-218 Rapid, sustainable growth based on stability and security Number of properties 6 4 2 11 CAGR + 5% 214 218 12 18 41 56 214 215 216 217 218 Actual net rental income (p.a., in million) 2 15 1 5 1,1 CAGR + 92% 214 218 3,2 5,5 YOY + 37% 217/218 YOY + 56% 217/218 9,5 14,8 214 215 216 217 218 Leasable space (in m²) 3 2 1 2 15 1 5 48 51 83 14 246 214 215 216 217 218 1,2 CAGR + 5% 214 218 Potential net rentals (p.a., in million) CAGR + 96% 214 218 3,9 6,3 YOY + 76% 217/218 YOY + 62% 217/218 1,9 17,7 214 215 216 217 218 Market value of portfolio 25 million Actual net rental return p.a. 9.8% Potential net rental return p.a. 11.7% Since 214, FCR Immobilien AG has acquired 7 properties (CAGR + 65%) sold 19 properties (CAGR +73 %) In 218 FCR Immobilien AG acquired 3 properties (YOY + 43%) sold 9 properties (YOY +8 %) 7
Key financial indicators 214-218 (*preliminary figures) Significant increase in turnover, results and NAV Turnover (in million) 4, 3, 2, 1,, 3,3 EBIT (in million) 8 6 4 2 CAGR + 83% 214 218* 12,7 12,1 16,4 37, 214 215 216 217 218* 1,1 CAGR + 62% 214 218* 3, 2,3 YOY + 126% 217/218* YOY + 15% 217/218* 3,7 7,6 214 215 216 217 218* EBITDA (in million) 15 1 5 1,5 3,7 3,1 4,9 1,1 214 215 216 217 218* EBT (in million) 4 3 2 1,8 CAGR + 61% 214 218* CAGR + 43% 214 218* 1,9,8 YOY + 16% 217/218* YOY + 154% 217/218* 1,3 3,3 214 215 216 217 218* 1 8 6 4 2 NAV (in million) CAGR + 83% 216 218 26,7 Calculation of NAV 218: 62,2 YOY + 44% 217/218 89,3 216 217 218 Paid-up registered share capital: 4,219,588 NAV: 89.3 million NAV/share price: 21.16 8
Key financial indicators (*preliminary figures) Successful operational business FFO (including revenues from sales, in million) 6 5 4 CAGR + 99% 214 218* YOY + 142% 217/218* 5,1 3 2 1 2,1 FFOPS (in ) 1,3 1,21 FFOPS (in ) FFOPS (in ),31,51 216 217 218* 9
Financing / Accounting Loan-based financing contributes to high profitability; hidden reserves are realised upon sale of property Ratio - market value / debt burden / interest expense (annualized as on 31 December 218, in million) Fair value Book value Financing Interest expenses 3,2 1,8 5, Bond 46 Banks Total Bond (7.%) Banks (1.8%) Total (3.4%) 11 147 159 25 Hidden reserves: 91 million Rental income 14.8 million Financing strategy: Determined exploitation of opportunities provided by lowinterest environment; exploitation of benefits of leverage effect Risk management: nonrecourse based financing Preferred financing through local or regional providers Accounting (HGB [German Commercial Code]) Entered into balance sheet at book value, hidden reserves are realised upon sale 1
Capital market FCR shares listed successfully on the Frankfurt stock exchange since 7 November 218 Share master data ISIN / WKN DEA1YC913 / A1YC91 Shareholder structure after the capital increase FAMe Invest & Management GmbH Ticker symbol FC9 8.8% Market place Total number of shares XETRA and Frankfurt, Segment Scale 4,45,66 non-par value registered shares (ordinary shares) Streubesitz 23. % Market capitalisation 78.8 million (as on 27 February 219) Registered share capital 4,45,66 68.2 % RAT Asset & Trading AG First listing 7/11/218 First share price 18. Designated sponsor Bank M - Representative of the FinTech Group Bank AG Research SMC Research (22 November 218) Recommendation to buy, target price: 27.3 First Berlin Equity Research (12 November 218): recommendation to buy, target price: 25. March 219: FCR Immobilien AG successfully completes its first offering period for a capital increase despite difficult market environment Placement of 186,72 new shares at the subscription price of 17.5 Gross issue proceeds for the first tranche amount to approx. 3.3 million Capital stock increases from 4,219,588. by 186,72. to 4,45,66. Listing of the New Shares takes place after registration of the capital increase 11
Capital market Bonds for 18/23 and 16/21 placed for a total of 4 million 6.% bond for 218/223 Fully placed ( 25 million) WKN A2G9G6 ISIN DEA2G9G64 7.1% bond for 216/221 Fully placed ( 15 million) WKN A2BPUC ISIN DEA2BPUC4 8.% bond for 214/219 1.67 million placed WKN A1YC5F ISIN DEA1YC5F Issue volume: up to 25 million Dividend coupon: 6.% p.a. Interest payment: semi-annually Maturity: 2/2/223 Collateral: registered land debt Listing: Frankfurt stock exchange Issue volume: up to 15 million Dividend coupon: 7.1% p.a. Interest payment: annually Maturity: 18/1/221 Collateral: registered land debt Listing: Frankfurt stock exchange Issue volume: up to 1 million Dividend coupon: 8.% p.a., plus. 3.% p.a. fixed interest bonus at end of term Interest payment: annually Maturity: 1/5/219 Collateral: registered land debt Listing: Frankfurt stock exchange 5/218: Scope Ratings rates FCR Immobilien AG as B+; the secured corporate bonds are rated as BB-; outlook stable 12
Business development 219 YTD In 219, 3 properties were successfully sold Property Profit (in million) Holding period (in months) Return (in %) Equity capital return (in %) Salzgitter 5.5 53 74.3 566.7 Hennef 3.3 3 143.5 425.8 Würzburg.7 21 38.1 23.5 Total 9.5 Ø 35 Ø 85.3 Ø 399. Promising projects are currently being implemented Portfolio expansion: Short-term purchase of 1 properties in all defined asset classes Sales after potential increase: Sales offers for 3 properties available Capital market activitites: Preparation of a new corporate bond Bonds 214/219: Will be repaid out of the cash flow as planned Dividend for financial year 218: The Executive Board and the Supervisory Board propose a dividend of.35 per share 13
FCR Immobilien AG Contact Falk Raudies Executive Board FCR Immobilien AG, Bavariaring 24, 8336 Munich Telephone: +49 89 413 2496 1 Email: f.raudies@fcr-immobilien.de www.fcr-immobilien.de Disclaimer: this document is not a prospectus for the purposes of German capital market laws nor an offer requiring a prospectus or a public offering. It does not contain any express and/or implied warranties, promises or commitments on the part of FCR Immobilien AG or the companies associated with FCR Immobilien AG. All assumptions and calculations are based on careful research. Notwithstanding all due care, deviations from the stated assumptions may occur. We do not assume any liability for the realisation of the yield and liquidity projections, for future changes of actual, economic, legal, tax or other general conditions nor for the accuracy and completeness of the information provided in this document. 14