Company Presentation

Preliminary figures business year 2011, February 2012

Historical development of the companyFrom mining to real estate

Issuing of special share fund

Change of major shareholder

Strategy change / new management:Growth courseLiquidation of special share fund SüdinvestConcentration on core business property

Since February 18th company name HAMBORNER REIT AG

Foundation of company: HAMBORNER founded as a mining company1953

Integration of the mining activities into Ruhrkohle AG1969

Continuation of HAMBORNER AG as a property company1970

1990

2007

2007 ff.

2010

Mining

Assetadministration

Growth and value creation as"pure property 

public limited company"

Inclusion in S‐DAX2011

Listed on stock exchange as HAMBORNER Bergbau AG1954

Capital Increase October 20102010

Company presentation, February 2012 (preliminary figures) 2

Shareholder structure

Company presentation, February 2012 (preliminary figures) 3

Corporate structure

Lean structure – no holding/parent companies

HAMBORNER REIT AG

Directly owned propertyGerman‐wide portfolioMarket value of properties: € 504 million(12/2011)

26 employees2 board members

High street OfficeLarge‐scale retailing

Undeveloped property holdings

Internal management of REITOnly infrastructural building servicesexternally contracted out

Company presentation, February 2012 (preliminary figures) 4

Company presentation, February 2012 (preliminary figures)

Strategy

Value‐creating growth through continuous expansion of portfolio

Strategic prime objectives:

Yield‐oriented expansion of existing commercial property portfolio 

Regional diversification into German regions with strong growth

Measures:

Improving cost‐yield structures through buying larger properties and selling smaller properties

Continued focus on towns and cities outside the metropolises (in particular South and Southwest Germany)

Retentionof theinvestment mix

5

→ 69 properties at 51 

locations in Germany

→ Approx. 1.4 million m² 

undeveloped areas

→ Approx. € 504 million 

market value total assets

31,7 %Commercial(High‐Street)

34,1 %Large‐scale retail trade

Current property portfolio (31.12.2011)

→ Distribution of 

portfolio according to  

rental income

34,2 %Office / Other

6Company presentation, February 2012 (preliminary figures)

historicalcore areaNRW

regional diversifikation

Development of HAMBORNERs portfolio value

Company presentation, February 2012 (preliminary figures) 7

2004

€ 179 million

€ 177 million

€ 186 million

€ 504 million

2006

€ 273 million

2008 20102007

€ 281 million

€ 308 million

2005 2009 2011

€ 376 million

Change of strategy

Latest Investments

Company presentation, February 2012 (preliminary figures) 8

City Address Asset‐Class Space in m² Rent p. yearin € thousand

Purchase pricein € million

Bad Homburg Louisenstr. 53‐57 High Street 3,232 849 13.7Brunnthal Eugen‐Sänger‐Ring 7 Office 6,721 912 12.0Leipzig Brandenburger Str. 21 Retail / DIY market 11,139 890 11.6Regensburg Hildegard‐von‐Bingen‐Str. 1 Office/ Medical Practices 8,998 1,363 21.0Freiburg Lörracher Str. 8 Large Scale Retail 3,987 860 11.4Erlangen Allee‐am‐Röthelheimpark 11‐15 Office / Retail 11,600 1,733 28.1Langenfeld Solinger Str. 5‐11 High Street 6,295 1,111 16.3

Offenburg Hauptstr. 72/74 High Street 5,150 520 7.957,122 8,238 122.0

City Address Asset‐Class Space in m² Rent p. yearin € thousand

Purchase pricein € million

Transfer ofownership

Aachen Debyestraße Retail / DIY market 11,431 1,020 approx. 16  2012e

München Domagkstraße 10 Office approx. 12,000 2,294 approx.  40  2013e

Transfer of ownership 2011

Transfer of ownership 2012 / 2013

Brunnthal, Eugen‐Sänger‐Ring 7

Built 2010

Main‐Tenant SFC Energy AG

Leased area approx. 6,700 m²

Annual rental income € 912,490

Remaining term approx. 8.4 years

Gross initial yield 7.6 %

Purchase price € 12 million

Transfer of ownership in 2011

9

Bad Homburg, Louisenstr. 53‐57

Built 1985

Main‐Tenant Naspa, Hussel, Hof Apotheke,…

Leased area approx. 3,200 m²

Annual rental income € 860,622 

Remaining term approx. 4.4 years

Gross initial yield 6.3 % 

Purchase price € 13.7 million

Company presentation, February 2012 (preliminary figures)

Leipzig, Brandenburger Str. 21

Built 2010

Main‐Tenant OBI

Leased area approx. 11,000 m²

Annual rental income € 889,527

Remaining term approx. 13.0 years

Gross initial yield 7.6 %

Purchase price € 11.6 million

10

Regensburg, Hildegard‐von‐Bingen‐Str. 1

Built 2007

Main‐Tenant different medical practices

Leased area approx. 8,800 m²

Annual rental income € 1.43 million

Remaining term approx. 6.8 years

Gross initial yield 6.8 %

Purchase price € 21.0 million

Company presentation, February 2012 (preliminary figures)

Transfer of ownership in 2011

11Company presentation, February 2012 (preliminary figures)

Langenfeld, Solinger Str. 5

Built 2011

Main‐TenantH&M, Tom Tailor, Depot, dm, and other

Leased area approx. 6,400 m²

Annual rental income approx. € 1.14 million

Remaining term approx. 9.3 years

Gross initial yield 6.6 %

Purchase price € 17.1 million

Transfer of ownership in 2011

Erlangen, Allee am Röthelheimpark 11‐15

Built 2010/2011

Main‐Tenant Konsum, dm, Pfrimmer and other

Leased area approx. 11,600 m²

Annual rental income € 1.93 million

Remaining term approx. 9.6 years

Gross initial yield 6.9 %

Purchase price € 28.1 million

12Company presentation, February 2012 (preliminary figures)

Transfer of ownership in 2011

Offenburg, Hauptstraße 72‐74

Built 1973, reconstruction 2008/2009

Main‐Tenant Müller Drogeriemarkt

Leased area approx. 5,100 m²

Annual rental income approx. € 525,000 

Remaining term approx. 6.3 years

Gross initial yield 6.6 %

Purchase price € 7.9 million

Freiburg, E‐Center

Built 2011

Main‐Tenant EDEKA

Leased area approx. 4,000 m²

Annual rental income € 860,000 

Remaining term 18 years

Gross initial yield 7.5 %

Purchase price € 11.4 million

13Company presentation, February 2012 (preliminary figures)

Already signed, transfer of ownership 2012

Aachen, Debyestraße

Built 2012

Main‐Tenant OBI

Leased area approx. 11,400 m²

Annual rental income approx. € 1.2 million (Ø rental income)

Remaining term 15 years

Gross yield 7.5 %

Purchase price € 15.97 million

Acquisition in sustainability

Munich, NuOffice

aiming at LEED‐platinum certification

building under construction / completion 2012

Annual rental income € 2.3 million

Remaining term 8.8 years

Gross initial yield 5.9 %

Purchase price € 39.3 million

Already signed, transfer of ownership 2013

14Company presentation, February 2012 (preliminary figures)

HAMBORNER share

Company presentation, February 2012 (preliminary figures) 15

Jan    Feb   Mar   Apr   May   June  July Aug  Sept   Oct Nov   Dec Jan

.

.

.

.

Significant key figures 2011 (preliminary)

16

Key figures 2011 2010 Change

Rental revenues € 32.2 million € 25.0 million + 29 %

Operating result € 14.9 million € 12.5 million + 19 %

Profit for the period € 7.9 million € 5.7 million + 39 %

Funds from Operations € 16.0 million € 12.1 million + 32 %

Funds from Operations (FFO) per share  € 0.47  € 0.36  + 32 % 

2011 2010

REIT equity ratio 55.7 % 74.4 % ‐ 18.7 %‐points

Loan to Value (LTV)  39.1 % 19.3 % + 19.8 %‐points

Net Asset Value (NAV) per share € 8.77 € 8.74 + 0.3 %

Dividend per share *€ 0.40 € 0.37 + 8.1 %

Company presentation, February 2012 (preliminary figures)

* proposal of the boardof management

→ Positive operational business development

→ 29.0 % increase in rents

→ Vacancy rate 1.8 % (including income from rent guarantees 1.3 %)

→ Growth continued

→ Transfer of ownership € 122 million (Bad Homburg, Brunnthal, Leipzig, Regensburg, Freiburg, Erlangen, Langenfeld, Offenburg)

→ Contracts for approx. € 56 million already signed (Aachen, Munich), transfer of ownership later

→ Portfolio value 31.12.2011: approx. € 504 million

→ Sound financial structure

→ REIT equity ratio 55.7 %

→ No refinancing needs

→ Forecast 2011 fulfilled

→ Forecast: Rents 25 % + => (+29 % preliminary)

→ Forecast: FFO 30 % + => (+32 % preliminary)

Company presentation, February 2012 (preliminary figures) 17

Business year 2011 very successfull

Vacancy rate:  1.8 %

Vacancy rate (incl. rent guarantees):   1.3 %

Company presentation, February 2012 (preliminary figures) 18

Management revenuesSteady increase in management revenues combined with low vacancies 

Q1 2008

5,300T €

5,314T €

5,482 T €

5,502 T €

5,958 T €

6,264T €

6,345T €

Q1 2009

Q3 2008

Q22009

Q2 2008

Q3 2009

Q4 2008

6,303T €

Q4 2009

6,445T €

Q1 2010

6,743T €

Q2 2010

7,055T €

Q3 2010

7,484T €

Q4 2010

7,810T €

2008: 21,589 T€

2009: 24,870 T€

2010: 27,727 T€

8,700T €

Q1 2011

Q2 2011

9,345T €

Q3 2011

9,552T €

Q4 2011

2011: 35,407 T€

Rental agreementsAround 70% of the contractual rental income first expires in 2016 and later.

Share of rental agreementexpiries in entire portfolio

2016 and later

Ø Remaining terms of rental agreementsaccording to type of properties

19Company presentation, February 2012 (preliminary figures)

Share in total rent p.a. 

(incl. rent guarantees)  in % 

Kaufland Group 13.0 %

EDEKA 10.4 %

OBI 5.0 % 

AREVA 2.8 %

SFC Energy 2.6 %

Telefonica O2 2.3 %

REWE 2.2 %

BfA 2.1 %

dm  2.0 %

Kaspersky 2.0 %

Total 49.5 %

TOP 10 TenantsCreditworthy tenants

20Company presentation, February 2012 (preliminary figures)

FFO

2011

16,029 T€

12,163 T€

2010

+ 32 %

21Company presentation, February 2012 (preliminary figures)

FFO total

2011

0.47 €

0.36 €

2010

+ 32 %

FFO per share

0% 0% 0% 0%2%

19% 19%

2%

30%

25%

3%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

FinancingNo short‐term refinancing needs.

Expiration of fixed interest rates

in % of the total financial debt

Ø interest rate 

of debt capital: 

4.43 %

actual financial debt:

€ 216.2 million

Ø remaining term of 

fixed interest rate:                          

7.8 years

22Company presentation, February 2012 (preliminary figures)

liquid funds: € 18.7 million       

LTV: 39.1 %

REIT‐equity ratio: 55.7 %

0,10 €

0,15 €

0,20 €

0,25 €

0,30 €

0,35 €

0,40 €

90 92 94 96 98 00 02 04 06 08 10

Dividend Bonus

FFO 2011:0.47 €

Development of dividends

0.40 €

23Company presentation, February 2012 (preliminary figures)

Dividend‐proposalof the board of management

0.40 €

0.35 €

0.30 €

0.25 €

0.20 €

0.15 €

0.10 €

+ 8.1 %

Dividend expectations

Company presentation, February 2012 (preliminary figures) 24

Source: Solventis Research, Feb 2012

Dividend yield 2011e

Financial Calendar 2012

HAMBORNER REIT AG

Annual report 2011 29 March 2012

Interim report for 1st quarter 2012 10 May 2012

Annual general shareholders´ meeting 2012 15 May 2012

Interim report for 1st half 2012 9 August 2012

Interim report for 3rd quarter 2012 8 November 2012

25Company presentation, February 2012 (preliminary figures)

Many thanks for your attention!

Contact

Dr. Rüdiger Mrotzek ‐ Vorstand

T +49 (0)203 / 54405‐55

M r.mrotzek@hamborner.de

Hans Richard Schmitz ‐ Vorstand

T +49 (0)203 / 54405‐21

M h.schmitz@hamborner.de

Sybille Albeser ‐ Investor Relations

T +49 (0)203 / 54405‐32

M s.albeser@hamborner.de

Disclaimer

27Company presentation, February 2012 

(preliminary figures)

This presentation was exclusively prepared for the addresses specified on the title page and/or the participants at the mentioned event.The information in this presentation is based on both public information and documents as well as information which was made available toHAMBORNER REIT AG by the respectively mentioned companies and third parties.

All statements, opinions and assessments contained in this presentation correspond to the current estimates and/or opinions of HAMBORNERREIT AG and may therefore not be construed as constant, immutable statements. HAMBORNER gives no guarantee with regard to thecorrectness or completeness of the information contained herein. HAMBORNER and its organs, boards, employees or other parties acting onbehalf of HAMBORNER accept no liability whatsoever for the statements made in this presentation.