Hamborner REIT : Company Presentation May 2024 (HAMBORNER REIT AG Company presentation May 2024 2)

Company Presentation

May 2024

Office property Ingolstadt

Agenda

1. HAMBORNER at a glance
2. Portfolio Overview
3. Asset/Property Management
4. Financials
5. Sustainability / ESG
6. Appendix

Agenda

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HAMBORNER

at a glance

Office property 'Nu-Office' Munich

Company profile

History

1953 Foundation of HAMBORNER

Listing on stock exchange

1954

Clear focus on commercial properties 2009- Conversion into a G-REIT

2010

Inclusion in German SDAX & EPRA-Index

2011-

2012

Further growth based on revised corporate strategy

2020

Portfolio Data (as of 31 March 2024)

Portfolio volume	€1,471m
Number of assets	67
WALT	6.3 years
Occupancy rate (EPRA)	97.0%

1 Based on mid-point of current FFO guidance range for full-year 2024 and share price as of 31 March 2024

Company profile

• Public commercial property company
• Profitable and diversified German-wide property portfolio
• Two-pillarportfolio structure with focus on food-anchored retail and office properties
• Stable and predictable cash flows
• Strong focus on ESG and future topics
• Lean and efficient corporate structure
• Strong internal asset and property management
• Sustainable and attractive dividend policy

Key Financials (as of 31 March 2024)

FFO yield 2024e1	9.3%
NAV per share	€10.19
REIT equity ratio	56.1%
LTV	42.6%

HAMBORNER at a glance | 4

The HAMBORNER Share

The HAMBORNER Share				Shareholder structure
	Current share price	€6.55 (as of 31 March 2024)
	Market capitalisation	€532.8m (as of 31 March 2024)				12.20% RAG Foundation
	WKN/ISIN	A3H233 / DE000A3H2333
					81,343,348		5.89% BlackRock
	Ticker symbol	HABA
		shares
	Class of shares	Registered Share
							81,91% Free float
	Exchange segment	Prime Standard
	Indices	SDAX, EPRA, RX REIT
Trading Volume				Dividend per Share and Dividend Yield

		176			185				170							0.47	0.47	0.47	0.47	0.48
								1			0.43	0.45	0.46	10
146											0.42
140					134		138			0.40								9
		121	122				0
																		8
							96														7
									0									7.0	7.0	6
															5.5		5.2				5
										0	4.9		4.8	4.6	4.8	4.7			4
										4.4
															3
										0											2
																					1
2015	2016	2017	2018	2019	2020	2021	2022	2023	Q1 2024	0											0
	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
			Ø number of shares per day in thousand							Dividend per share in €			Dividend yield in %

HAMBORNER at a glance | 5

Portfolio Overview

Office property Münster

Portfolio Strategy - Target Structure

Retail Portfolio

Office Portfolio

10-20%	Manage-to-core properties	10-20%	Manage-to-core properties with
with value-add potential	value-add potential

80-90%	Maintaining/extension of core	80-90%	Maintaining/extension of core
retail portfolio with focus on
office portfolio
	local supply

Portfolio value

Portfolio value

• Two-pillarportfolio structure with focus on food-anchored retail and office assets with core characteristics
• Gradual addition of selected manage-to-core properties with value-add potential
• Continuous asset rotation as part of active portfolio management approach

Portfolio Overview

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Portfolio Management Approach

Asset classes

Risk profile

Lot size

Portfolio management approach

• Retail
• Office
• Core
• Manage-to-core
• > €10m (retail)
• > €20m (office)
• Focus on core investments
• Addition of selected manage-to-coreproperties with larger asset management need (refurbishment, reletting, repositioning etc.)
• Realization of value potential within existing portfolio (incl. selective development activity)
• If applicable, participation in investment partnerships (co-investments, joint ventures)
• Active portfolio management approach ('buy-hold-sell')
• Constant portfolio streamlining in line with strategic parameters
• Consideration/Linking of performance indicators from capital market and property perspective
• Investments following defined sustainability strategy

Portfolio Overview

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Geographical Portfolio Structure

Geographical Focus (Metropolitan Regions in Germany)	Portfolio by Metropolitan Regions (as of 31 March 2024; in % of portfolio value)
		Metropolitan Region	Share of portfolio volume

	8
	10
	9
	3
1	11
	2
	4
	6

5
7	Retail
	Office

Metropolitan Region

1. Rhine-Ruhr
2. Frankfurt Rhine-Main
3. Berlin-Brandenburg
4. Nuremberg
5. Stuttgart
6. Rhine-Neckar

7Munich

1. Hamburg
2. Hannover-Brunswick-Göttingen-Wolfsburg

1. Northwest
2. Middle Germany Outside metropolitan region

21.4%

12.8%

9.4%

8.2%

5.9%

5.2%

5.1%

3.2%

2.7%

1.6%

0.9%

23.6%

Retail Office

Portfolio Overview

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Portfolio development

2.000	50
Portfolio value and average property value		Comments

						1,625		1,609				▪ Continuous value-adding portfolio growth
					1,589	1,604			40		since conversion into a G-REIT in 2010
				1,517					1,471	1,471	▪	Average annual growth rate of 10.7%
1.500
			1,363										over the last 10 years
											30	▪ Average property value of €22.0m allows
		1,115										cost-effective portfolio and asset
													management
1.000	900											▪ Operating cost ratio at 9.3% in Q1 2024
							24.4
							23.6
717									22.0	22.0	20	▪	Combination of two-pillar portfolio strategy
					20.3
				19.5	19.4							and investment focus on metropolitan regions
			18.4
												forms the basis for future value-adding growth
		16.2
500	13.0
										10
10.5
0											0
2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	Q1 2024
		Portfolio value in €m			Ø property value in €m

Portfolio Overview | 10