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PATRIZIA H1 2026 Financial Results Presentation 11 August 2026 PATRIZIA | © 2026
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PATRIZIA | © 2026 P A TRIZIA investor survey highlights resilient real-asset demand and reinforces strategic focus Key survey outcomes, in % of surveyed investors 45% intend to increase infrastructure allocation 77% prioritise residential & modern living 73% expect higher infrastructure transaction activity 85% see geopolitics impacting real-asset portfolios • Infrastructure gains momentum – 45% plan to increase allocation, up from 35% last year • Living remains the strongest conviction, led by residential and modern living, with 77% planning to expand allocations to these segments over the next five years • Transaction activity is expected to recover – 73% expect higher infrastructure activity • Local execution matters more as 85% see geopolitics impacting real-asset portfolios, increasing the value of European expertise and operational capability • Home bias strengthens in Europe – 24% plan to increase European exposure; only 4% reduce Key message: Demand remains structural — Infrastructure, Living and local European execution are central 2
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PATRIZIA | © 2026 Investment environment continues to improve despite temporary volatility +15.6% Transaction volume based on signed transactions | EUR bn • The investment environment continued to improve throughout H1 2026, despite temporary volatility from the Iran conflict, with market sentiment recovering to pre-conflict levels by the end of the period • Transaction activity remained resilient, with transactions signed increasing by 15.6% to EUR 1.6bn, primarily driven by disposal activity; Transactions closed amounted to EUR 1.1bn (H1 2025: EUR 1.5bn), reflecting the gradual pace of market recovery • Fundraising momentum improved significantly, with equity raised from clients increased to EUR 0.8bn (H1 2025: EUR 0.3bn), with fundraising accelerating in the second quarter • Outstanding open equity commitments available for investments via managed funds of EUR 1.5bn (H1 2025: EUR 0.9bn) leaving PATRIZIA with flexibility to invest when opportunities arise and support future AUM growth 3 0.2 1.0 1.4 0.3 H1 2026 H1 2025 Acquisitions Disposals +177.5% Equity raised | EUR bn 0.8 0.3 H1 2026 H1 2025
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PATRIZIA | © 2026 4 Operational efficiency drives strong EBITDA growth and margin expansion • EBITDAincreased by 46.6% to EUR 42.7m, driven by continued cost discipline and improved operational efficiency; EBITDA margin expanding to 31.6% (+10.1PP) • Total service fee incomebroadly stable at EUR 127.3m (-0.8%), with higher performance fees (+16.8% to EUR 13.2m) partly offsetting lower recurring management fees • Net sales revenues and co-investment incomeincreased to EUR 8.0m (H1 2025: EUR 7.3m), driven by higher dividend income from increased co-investments • Other income1 increased to EUR 7.7m (H1 2025: EUR 5.6m), mainly due to release of provisions • Net profit for the periodmore than tripled to EUR 14.7m (H1 2025: EUR 4.7m), supported by significantly higher EBITDA 1 Excluding income/expenses from reorganisation Composition of EBITDA | EUR m 29.1 110.2 42.7 3.8 13.2 8.0 -99.8 7.7 -0.3 EBITDA Management fees Operating expenses1 EBITDANet sales revenues and co- investment income Transaction fees Performance fees Total service fee income EUR 127.3m; -0.8% Other income1 - 11% + 47% + 36% + 17% + 5% - 3% + 9% change y-o-y H1 2025 H1 2026 Reorga- nisation result - 700%
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PATRIZIA | © 2026 • Recurring management fees of EUR 110.2m continued to more than cover operating expenses, demonstrating the resilience and quality of PATRIZIA’s recurring earnings base • Coverage increased to EUR 10.4m in H1 2026 (H1 2025: EUR 1.3m), reflecting the benefits of ongoing platform optimisation and a lower operating cost base • Recurring management fees are now making a meaningful contribution to bottom-line profitability, highlighting the benefits of a leaner operating platform and a higher-quality earnings profile Operating Expenses excl. ReOrg expenses | Coverage = Management fees – Operating expenses excl. ReOrg expenses Cost discipline driving improved profitability and quality of earnings 115.5 113.4 110.2 -134.0 -112.1 -99.8 -18.5 1.3 10.4 -150.0 -100.0 -50.0 0.0 50.0 100.0 150.0 Coverage Management fees Operating expenses in EURm H1 2024 H1 2025 H1 2026 Management fees now contribute to bottom-line profitability 5 H1 2025 H1 2024
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PATRIZIA | © 2026 112.1 -9.9 -3.7 1.4 99.8 - 13% - 13% + 17% - 11% • Operating expenses1, declinedby -11% to EUR 99.8m (H1 2025: EUR 112.1m), reflecting continued cost discipline and ongoing platform optimisation initiatives o Staff costs down -13% to EUR 64.9m (H1 2025: EUR 74.9m) mainly due to lower FTEs o Other operating expenses decreased by -13% to EUR 25.5m (H1 2025: EUR 29.2m) driven by ongoing platform optimisation initiatives and timing effects o Other expenses increased by 17% to EUR 9.4m (H1 2025: EUR 8.0m), primarily due to higher impairment charges on trade receivables and contract assets • Operating expenses expected to be higher in H2 2026, particularly in Q4, reflecting the usual seasonality of other operating expenses 1 Excluding expenses from reorganisation 2 Cost of purchased services + impairment result for trade receivables and contract assets Disciplined cost management continues to drive operating expenses further down Operating expenses1 y-o-y | EUR m change y-o-y Staff costs Other operating expenses Other expenses2 Operating expenses H1 2026 Operating expenses H1 2025 Total cost reduction of EUR -12.3m in H1 2026 Mündlich: While further efficiency measures under way? 6
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PATRIZIA | © 2026 • AUM remained broadly stable at EUR 55.9bn declining by only EUR 0.3bn versus year-end 2025, as positive inflows and supportive FX effects partly offset outflows and negative valuation effects • Inflows of EUR 0.1bn reflected continued fundraising momentum and capital deployment across the platform • Outflows of EUR 0.5bn, including disposals and net cash returns to clients, were the main driver of the modest AUM decline • Valuation effects remained limited at EUR -0.2bn • Positive currency effects of EUR 0.3bn 1 The calculation of AUM is mainly based on external valuation reports as at the respective reporting date. For individual products or specific platforms (i.e. fund of funds, infrastructure), values of the previous quarter are used, including an extrapolation as at the reporting date. The cash/liquidity component mainly reflects the previous quarter. AUM remains broadly stable at EUR 55.9bn despite disposal activity 56.2 55.8 55.8 55.656.2 0.1 -0.5 -0.2 0.3 55.9 0.0 10.0 20.0 30.0 40.0 50.0 60.0 AUM 30.06.26 Inflows Outflows (incl. net cash returns to clients) Valuation effects Currency effects AUM 31.12.25 AUM1 development H1 2026 | EUR bn 7
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PATRIZIA | © 2026 28% 23%18% 12% 7% 5% 4% 2% Core Value Add / Opportunistic Core+ 64% 19% 17% H1 2026 | Diversified AUM mix across key dimensions AUM by sector AUM by risk style 50% 10% 8% 8% 4% 5% 4% 4% 4% 3% AUM by geography Germany North America UK & Ireland France & Belgium Nordics Netherlands Other Italy Asia-Pacific Spain ~56 bn total assets under management EUR 45+ bn real estate assets under management EUR ~10 bn Infrastructure assets under management EUR Residential Retail Office Other Infrastructure Health Care Logistics / Industrial Hotel 8
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PATRIZIA | © 2026 37.2 5.8 -0.3 42.7 • EBITDA in Investment Management increased by 60% to EUR 37.2m (H1 2025: EUR 23.2m), reflecting a significantly lower operating cost base and continued efficiency gains across the platform o Strong EBITDA expansion demonstrates the operating leverage embedded in PATRIZIA’s asset-light business model • Stable EBITDA from Balance Sheet Investments of EUR 5.8m (H1 2025: EUR 5.9m), demonstrating resilient contribution from the investment portfolio Group EBITDA growth driven by Investment Management segment H1 2026 EBITDA by segments | EUR m change y-o-y Balance Sheet Investments Consolidiation/ other PATRIZIAInvestment Management + 60% + 47% - 707% - 2% 9
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PATRIZIA | © 2026 8.3 7.6 407.3 810.0134.7 143.0 Other Real Estate Infrastructure 30.06.2026 • Disciplined deployment of balance sheet capital into co-investments, seed capital and targeted strategies • EUR 26m invested in H1 2026, mainly into additional stake of Dawonia Fund and Asia Sustainable Infrastructure Strategy • Seed investments of EUR 272m supporting future platform growth, with balance sheet capital deployed to seed strategies, drive platform growth and enhance long-term fee generation, including investments in residential, logistics and prime office assets 1 After deduction of deferred taxes from the valuation according to IFRS 9 Disciplined balance sheet investments supporting platform growth and alignment PATRIZIA’s (own) Invested capital1 | EUR m Invested capital (fair value)1 Invested capital (at cost) GRF IV | Residential portfolio in Augsburg EUR 122m TEP VIII | Real estate logistics portfolio in Sweden EUR 70m PGK (Retail business) | Two value add office assets in prime German locations (Hamburg & Cologne) EUR 80m 550.3 960.6 +75% +99% +6% change fair value vs. at cost 10 10
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PATRIZIA | © 2026 • Robust equity base with equity ratio of 65.3% and net equity ratio of 72.7% • Available liquidity increased to EUR 122.2m (31.12.2025: EUR 114.7m) • Cash inflow from partial realisation of exit carry entitlement from Dawonia and operating cash flow more than covered dividend payments and acquisition of additional shares in Dawonia Fund • Selective capital deployment into participations while strengthening financial flexibility • Further strengthened balance sheet and liquidity position enhance flexibility to execute growth strategy while maintaining financial flexibility and preserving broad capital allocation optionality 1 Maturity in 2027 (EUR 69m) 2 Net equity ratio: Equity (excl. non-controlling interests) divided by total net assets (total assets minus financial liabilities covered by cash in hand) 3 Excluding PATRIZIA treasury shares with a value of EUR 44.5m as at 30.06.2026 (closing price of EUR 7.71 per share) Further strengthening of financial position and balance sheet resilience in H1 2026 EUR m 30.06.2026 Total assets 1,718.0 Equity (excl. non- controlling interests) 1,121.6 Equity ratio 65.3% Cash and cash equivalents 174.6 + Term deposits +6.4 – Bonded loans1 (Corporate debt) –69.0 = Net cash excl. loans for seed investments 112.1 – Bank loans (Debt attached to strategic seed investments) –206.9 = Net cash (+)/debt (-) -94.9 Net equity ratio2 72.7% Strong balance sheet EUR m 30.06.2026 Bank balances, cash and term deposits 181.1 - Regulatory reserve for asset management companies –45.5 - Transaction related liabilities and blocked cash –6.0 - Liquidity in closed-end funds business property companies –7.4 = Available liquidity3 122.2 Liquidity 11
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PATRIZIA | © 2026 56.2 • Temporary setback from the Iran conflict (inflation and rates, weaker investment environment); market sentiment has since recovered to pre-conflict levels • Total service fee income now expected to remain largely stable vs. FY 2025, reflecting an updated earnings mix with stronger other income and continued cost discipline • Guidance confirmed, despite a temporarily more volatile first half: o EBITDA range of EUR 60.0 – 75.0m o EBITDA margin in the range of 22.0 – 26.5% o AUM range of EUR 55.0 – 60.0bn Guidance 2026 – confirmed EBITDA in EUR m 0 20 40 60 80 100 120 63.0 60.0 – 75.0 55.0 – 60.0 FY 2025 FY 2026e AUM in EUR bn EBITDA margin in % 22.9 26.5 22.0 12
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PATRIZIA | © 2026 Contact Disclaimer The information contained herein is directed only at professional clients and intended solely for use by the recipient. No part of this document or the information herein may be distributed, copied or reproduced in any manner, in whole or in part, without our prior written consent. This document is for information and illustrative purposes only. It does not constitute advice, a recommendation or a solicitation of an offer to buy or sell shares or other interests, financial instruments or the underlying assets, nor does this document contain any commitment by PATRIZIA SE or any of its affiliates. Whilst prepared in good faith, the information contained in this document does not purport to be comprehensive. PATRIZIA SE and its affiliates provide no warranty or guarantee in relation to the information provided herein and accept no liability for any loss or damage of any kind whatsoever relating to this material. The information herein is subject to change without notice. This document contains specific forward-looking statements that relate in particular to the business development of PATRIZIA SE and the general economic and regulatory environment and other factors to which PATRIZIA SE is exposed to. These forward-looking statements are based on current estimates and assumptions by the Company made in good faith and are subject to various risks and uncertainties that could render a forward-looking estimate or statement inaccurate or cause actual results to differ from the results currently expected. PATRIZIA SE does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this publication. Due to commercial rounding of figures and percentages small deviations may occur. 10 August 2026 Newsletter: https://ir.patrizia.ag/en/contact Publications: https://ir.patrizia.ag/en/ Verena Schopp de Alvarenga Associate Director | Investor Relations T +49 821 50910-403 M +49 151 58339292 investor.relations@patrizia.ag Dr Janina Rochell Director | Head of Investor Relations T +49 69 643505-1229 M +49 151 64085881 investor.relations@patrizia.ag Martin Praum Executive Director | CFO investor.relations@patrizia.ag Upcoming Events 10 AUG 26 H1 2026 Financial Report 11 AUG 26 H1 2026 Investor and analyst conference call 09 NOV 26 9M 2026 Quarterly Statement 10 NOV 26 9M 2026 Investor and analyst conference call Further Events: https://ir.patrizia.ag/en/events-for-shareholders Laura Walz Senior Associate | Investor Relations T +49 821 50910-347 M +49 170 1185603 investor.relations@patrizia.ag 13