CA Immobilien Anlagen : Results as at 31 March 2024

Q1 2024 Results

Solid Business Profile & Stable Operational Performance

Q1 2024 Key Highlights

• Increased annualized rental income by 4% yoy.
• Like-for-likeoccupancy of c. 89% with a simultaneous average increase in rent levels for new contracts.
• Sale of omniCon completed (incl. transfer of 78 FTE, representing approx. 25% of CA Immo workforce as at 31.12.2023).
• Closed around €32m of sales at premium to book value in difficult market environment.
• Maintained stable balance sheet and good liquidity position.

Stable Income Producing Portfolio

• Total leasing of c. 36,400 sqm of new and extended existing leases in line with historical leasing volume.
• Signed rents were around 5% above the expected rental value (ERV). 28 leases representing 23% of current vacancy were signed with future start dates.
• Like-for-likein place GRI (annualized) increase by 6.3%.
• Signed weighted average unexpired lease term (WAULT) to break of 4.5 years showing no change in tenant commitment to signing long office leases.

Active Capital Rotation

• Sale of an investment building in Vienna and two German plots with a total value of around €32m at a premium to book value. All properties sold were non-core in terms of asset class, location, building quality, age, or value creation potential.
• In Q2, the sale of two land plots in Germany, which are earmarked for residential development, were also signed well above book value.

Strong Financial Position

• Our stable balance sheet is an important anchor of our business activities. Robust liquidity, a solid equity ratio of 45.3%, and a well-balanced debt maturity profile provide stability even in this uncertain market situation.

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Q1 2024 Results

P&L Overview

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Profit and Loss (€m)	Q1 '24	Q1 '23	+/(-)	Rental Income Bridge (€m)1
Rental income	64.0	61.7	3.7%
Net rental income	48.2	46.4	3.8%
Other property development expenses	(0.3)	(0.5)	(30.7%)
Property sales result 1	(0.3)	22.3	n.m.
Income from services rendered	0.7	0.9	(16.1%)
Indirect expenses	(11.2)	(12.8)	(11.8%)
Other operating income	0.0	0.1	(84.6%)
EBITDA	37.0	56.5	(34.5%)
Depreciation and impairment/reversal	(0.8)	(1.0)	(19.9%)
Result from revaluation	(8.2)	(2.4)	245.2%
Result from joint ventures	1.8	(0.0)	n.m.
EBIT	29.8	53.1	(43.9%)
Financing costs	(14.0)	(13.4)	4.6%
Result from derivatives	5.2	(6.7)	n.m.
Result from financial investments	1.3	0.6	129.4%
Other financial result	(0.4)	(0.4)	0.9%
Financial result	(7.9)	(19.9)	(60.4%)
Earnings before tax (EBT)	21.9	33.2	(34.0%)
Income tax 2	(5.9)	(2.3)	149.7%
Result from discontinuing operation	0.0	0.0	n.m.
Consolidated net income	16.1	30.8	(47.9%)
1 Result from trading and construction works + Result from the sale of investment properties 2 Current income taxes + deferred taxes	3

Q1 2024 Results

FFO Overview

Funds From Operations (€m)	Q1 '24	Q1 '23	+/(-)	FFO I Bridge (€m)
Net rental income	48.2	46.4	3.8%
Income from services	0.7	0.9	(16.1%)
Other operating income/expenses excl. services	0.0	0.1	(84.6%)
Other operating income/expenses	0.7	1.0	(25.9%)
Indirect expenses	(11.2)	(12.7)	(11.9%)
Result from joint ventures	0.1	(0.1)	(206.9%)
Finance costs	(13.5)	(11.9)	13.4%
Result from financial investments 1	2.4	1.1	>100%
FFO I from discontinuing operations	0.0	0.0	n.m.
FFO I	26.7	23.9	12.0%
FFO I per share	0.27	0.24	13.8%
Property sales result 2	1.4	22.5	(93.8%)
Result from disposal of assets	(0.0)	0.0	n.m.
Other financial results	0.0	0.0	n.m.
Current income tax 3	(1.4)	(6.1)	(77.4%)
Current income tax discontinuing operations	0.0	0.0	n.m.
Non-recurring readjustments 4	(0.5)	(1.5)	(67.7%)
Non-recurring tax adjustments 3	0.1	0.0	n.m.
FFO II	26.3	38.8	(32.0%)
FFO II per share	0.27	0.39	(31.0%)

1 Excluding IFRS 9 value adjustment 2 Incl. at equity property sales result	3 Incl. at equity current income tax	4 Includes other non-recurring results adjusted in FFO I	4

Q1 2024 Results

Balance Sheet Overview

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Balance Sheet (€m)	Q1 '24	Q4 '23	+/(-)
Investment properties	4,702.5	4,743.4	(0.9%)
Properties under development	409.5	344.1	19.0%
Own-used properties	10.1	10.5	(3.6%)
Other long-term assets	6.6	6.6	(0.5%)
Investments in joint ventures	49.8	48.0	3.8%
Financial assets	115.3	102.3	12.7%
Deferred tax assets	4.4	5.4	(18.1%)
Properties held for sale	39.4	80.5	(51.0%)
Properties held for trading	16.9	18.4	(8.6%)
Cash and cash equivalents	499.9	663.5	(24.7%)
Cash Deposits	75.1	75.1	0.0%
Other short-term assets	116.4	124.1	(6.2%)
Total assets	6,045.9	6,221.8	(2.8%)
Shareholders' equity	2,741.6	2,724.6	0.6%
Long-term financial liabilities	2,291.5	2,297.6	(0.3%)
Other long-term financial liabilities	55.8	53.9	3.6%
Deferred tax liabilities	590.6	586.2	0.8%
Short-term financial liabilities	202.4	372.5	(45.6%)
Other short-term liabilities	163.9	187.1	(12.4%)
Total liabilities and shareholders' equity	6,045.9	6,221.8	(2.8%)

Key Drivers

1. Investment Properties down at €4,703m due to reclassification of "Am Karlsbad 11" property in Berlin to
   Properties under development.
2. Cash & Cash Equivalents (incl. Cash Deposits) down 22.2% at €575m due to ongoing investments into the standing asset base and developments as well as repayment of the €175m corporate bond in February 2024.
3. IFRS NAV per share increase of 0.6% to €28.08. EPRA NTA per share down 0.2% YTD at €33.71.
4. Total Debt at €2,494m down from previous year's level mainly due to bond repayment in February 2025. Equity Ratio at 45.3% and LTV (net) at 36.3%.

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Financing

Financial Profile

Hedging Ratio		Total Debt
92%		€2,494m

Key Drivers

• Transfer of construction financing for high-rise building Hochhaus am Europaplatz in Berlin (approx. €105m) to long- term financing already completed.
• Repayments or extensions of loans planned for the remaining expiries in 2024 (e.g. Ambigon in Munich).
• Potential refinancing of repaid unsecured debt with a new Eurobond currently being evaluated, subject to favorable market conditions.
• Revolving Credit Facility (RCF) with a volume of €300m currently fully undrawn.

Debt Maturity Profile (€m)

900

800		€35.5m variable
		Schuldschein
700	€175m bond	tranches (5.7%
(1.875% coupon)	coupon) repaid 2
	repaid
600	Already
	transferred to
500	long-term
financing
400
300
200
100

-

2024	2025	2026	2027	2028	2029	2030	2031	2032+
	Secured Debt Germany IP			Secured Debt Germany Dev		Secured Debt Austria & CEE IP		Unsecured Debt

1 Excl. contractually fixed credit lines for follow-up financings of developments	2 Repayment in May 2024	6

Rendering: Potential development Hallesches Ufer, Berlin

Portfolio Overview

Total Portfolio

Total Portfolio (GAV)		2018	2019	2020	2021	2022	2023	Q1 2024	+ / (-)
Total Portfolio 1	€m	4,471	5,186	5,596	6,254	5,911	5,159	5,152	(0.1%)
Investment Properties1	€m	3,760	4,299	4,729	4,995	4,979	4,754	4,713	(0.9%)
Active Development Projects Under Construction	€m	406	561	426	766	463	117	129	10.3%
Active Development Projects in Planning	€m	-	36	46	158	321	53	106	101.5%
Landbank	€m	290	281	354	260	217	191	189	(0.7%)
Other	€m	14	9	41	75	251	45	15	(65.7%)

Total Portfolio by Region (€m, % GAV) 1

6,000				5,152
5,000	4,471	6%
4,000	13%	28%
3,000	43%
2,000				66%
1,000	45%
0
2018				Q1 2024
			Germany		CEE		Austria

1 Consolidated, including own used properties & RoU Assets

Total Portfolio by City (€m, % GAV) 1

6,000										5,152
5,000		4,471						5%
									7%
4,000		9%						9%
	9%						10%
				11%
3,000		8%
				11%						33%
2,000		19%
				7%						12%
1,000
	15%						17%
0		12%						6%
	2018					Q1 2024
		Vienna			Munich			Frankfurt		Berlin			Warsaw
		Prague			Budapest			Bucharest		Other

Total Portfolio by Investment Stage (€m, % GAV) 1

6,000			5,152
5,000		4,471			4%
						2%
4,000		6%
	9%
3,000
2,000			91%
	84%
1,000
0
	2018			Q1 2024
		Other			Landbank
		Active Dev in planning		Active Dev under construction
		Investment properties

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Portfolio Overview

Investment Properties - KPI's (I)

Investment Properties1		2018	2019	2020	2021	2022	2023	Q1 2024	+ / (-)
Properties	#	74	77	79	74	64	63	62	(1)
Gross Leasing Area (GLA)	'000 sqm	1,404	1,443	1,374	1,320	1,115	1,101	1,102	0.1%
Gross Asset Value (GAV)	€m	3,760	4,308	4,736	4,995	4,979	4,754	4,713	(0.9%)
Office Share (GAV)	%	87.7	88.3	90.3	91.3	93.6	93.5	93.4	(5) bps
Annualized Rent (GRI)	€m	214.2	226.4	240.1	225.7	210.2	235.1	243.8	3.7%
Gross Initial Yield	%	5.8	5.8	5.1	4.5	4.5	5.1	5.2	10 bps
WAULT to Break	Years	4.4	4.2	4.0	3.8	4.5	4.7	4.5	(3.6%)
SQM Occupancy	%	95.1	96.2	94.8	89.3	88.6	88.8	88.3	(58) bps2

Investment Properties by Region (€m, % GAV)1

6,000			4,736	4,995	4,979	4,754	4,713
5,000
	4,308	10%		8%
		11%		7%	7%
	3,760
4,000	13%						31%
						30%	30%
	15%				40%
		42%
3,000
	47%
2,000	50%
					50%		62%	63%	63%
1,000			47%
	40%
	35%
0
2018	2019	2020	2021		2022	2023	Q1 2024
				Germany		CEE		Austria

1 Consolidated, including own used properties & RoU Assets 2 Decrease because of reclassification of ONE property to stabilized.

Investment Properties by City (€m, % GAV)1

6,000						4,736	4,995	4,979	4,754	4,713
5,000
			4,308	5%		6%
						4%		5%	5%
						8%		9%
				3,760	8%	8%				8%	8%
4,000		10%		10%
	11%		10%	10%
			9%
				9%	9%		11%
				12%	9%		11%	11%
				10%
3,000		11%
	13%	9%	12%
							26%
				9%	12%						30%	29%
2,000		24%	25%
	13%
	17%				11%
						2%	2%		12%	12%
				16%	3%
1,000		2%	17%	18%	20%		19%
	14%		18%	18%
0		14%	13%	11%	10%		8%	7%	7%
	2018	2019	2020	2021	2022	2023	Q1 2024
		Vienna		Munich		Frankfurt		Berlin		Warsaw		Prague		Budapest		Bucharest		Other

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Portfolio Overview

Investment Properties - KPI's (II)

GLA (ksqm)	Q1 '24	Q1 '23	+/(-)
Austria	129	132	(2.6%)
Czechia	142	148	(4.4%)
Germany	479	466	2.8%
Hungary	181	181	0.1%
Poland	152	156	(2.5%)
Other	20	20	0.0%
Total	1,102	1,103	(0.1%)

Annualized Rent (€m)	Q1 '24	Q1 '23	+/(-)
Austria	21.0	20.6	2.2%
Czechia	28.0	27.5	1.6%
Germany	129.8	107.9	20.3%
Hungary	27.1	23.5	15.2%
Poland	33.6	35.7	(5.7%)
Other	4.2	2.9	44.2%
Total	243.8	218.2	11.8%

GAV (€m)	Q1 '24	Q1 '23	+/(-)
Austria	320	378	(15.2%)
Czechia	464	478	(3.0%)
Germany	2,971	3,092	(3.9%)
Hungary	382	421	(9.2%)
Poland	537	547	(1.9%)
Other	39	39	(1.1%)
Total	4,713	4,956	(4.9%)

Gross Initial Yield (%)1	Q1 '24	Q1 '23	+/(-)
Austria	6.6%	5.5%	112 bps
Czechia	6.0%	5.8%	27 bps
Germany	4.4%	3.8%	59 bps
Hungary	7.1%	5.6%	150 bps
Poland	6.7%	6.9%	(19 bps)
Other	11.4%	7.8%	361 bps
Total	5.2%	4.7%	48 bps

GAV (€psqm)	Q1 '24	Q1 '23	+/(-)
Austria	2,486	2,853	(12.9%)
Czechia	3,274	3,227	1.5%
Germany	6,201	6,635	(6.5%)
Hungary	2,112	2,330	(9.4%)
Poland	3,530	3,509	0.6%
Other	1,985	2,007	(1.1%)
Total	4,276	4,494	(4.9%)

SQM Occupancy (%)1	Q1 '24	Q1 '23	+/(-)
Austria	84.2%	82.3%	189 bps
Czechia	95.7%	93.9%	176 bps
Germany	94.1%	96.6%	(249 bps)
Hungary	70.3%	64.5%	578 bps
Poland	86.3%	92.2%	(589 bps)
Other	98.9%	77.8%	2,111 bps
Total	88.3%	87.6%	61 bps

Consolidated 1 Excluding own used properties, RoU assets & assets in stabilization

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