Analysts' call on the 2021 Q3 figures, Presentation to the Analyst Conference Call

Analyst Conference Call

Q3 2021 results

November 11, 2021

Jochen Klösges (CEO)

Marc Hess (CFO) - Christof Winkelmann (CMO)

Agenda

• Highlights
• Group Results
• Segments
• Capital, Funding & Liquidity
• Outlook
• Key Takeaways
• Appendix

1

Agenda

• Highlights
• Group Results
• Segments
• Capital, Funding & Liquidity
• Outlook
• Key Takeaways
• Appendix

2

Highlights

Good Q3 results demonstrate continued positive development

Aareal Bank Group

Still uncertain environment

Encouraging performance

Outlook

• Gradually normalising environment supporting positive development
• Covid-19related uncertainties continue, esp. for the running winter quarter
• Swoosh scenario expected to remain intact (economic recovery)
• Successfully executing our strategy - significant top line driven profit increase continued
• Strong NII development based on profitable, risk conscious portfolio growth
• LLP as expected still above normalised average due to remaining Covid-19 related uncertainties

▪	SPF:	- Strong new business with attractive margins further
		supporting growth plan
		- Portfolio-YoD significantly recovered
		- Portfolio volume already above original YE-target
▪	BDS:	- NCI further increased
		- Deposit volume at high level

▪ Aareon: - Successful M&A activities

• • Sales revenue growth still diluted by Covid-19
• Operating profit target for 2021 confirmed,
  FY-tax rate as communicated between 50% - 60% expected
• The Bank invited to an EGM to be held on 9 Dec. 2021 for shareholders to vote on the second tranche of the dividend for the 2020 financial year amounting to 1.10 € per share.
• However the discussions with Centerbridge and Advent are still ongoing. In the event of an offer being submitted the dividend proposal for the EGM might be reassessed

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Agenda

• Highlights
• Group Results
• Segments
• Capital, Funding & Liquidity
• Outlook
• Key Takeaways
• Appendix

4