Corporate Presentation

2020

CORESTATE Capital Group

The fully integrated real estate management platform covers the entire spectrum of the investment valuation process. From acquisition to financing, structuring and management to sale –all from a single source.

CORESTATE Capital Group is a European investment management firm with 800 employees and approximately € 28 billion* in assets under management.

Client base consists of institutional, semi-professional and private investors.

From 11 countries investors get direct local access to the most attractive real estate markets in Europe.

Proven asset expertise and a broad range of products with different risk-return profiles –from core to opportunistic investments. Market leading in Europe for micro living and in the DACH region for mezzanine financing. Overview

* Incl. the AuM through the acquisition of STAM Europe on a pro forma basis

The consideration of ESG factors and international standards such as INREV are fundamental components of the organisation and operational processes of the companies within the CORESTATE Group.

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About Us

It is our goal to become the leading European

full-service provider of real estate investments.

We develop innovative, sustainable and profitable investment solutions for our customers to increase their wealth.

We combine proven real estate expertise, good market knowledge and the understanding of mega trends

and ESG principles for optimal product performance and sustainable returns for our customers.

CORESTATE is a leading provider of fully integrated real

estate investment solutions in Europe.

Who we are Our Mission Our Vision

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Key Facts

€ 28 billion

assets undermanagement

800employees

11 Countries with

operating locations on-site

57,000units undermanagement

SDAXListing in the Prime Standard of the Frankfurt Stock Exchange**

€ 303 million

in turnover(2019)

BB+/positive

Corporate CreditRating**

>120real estate funds under management

>300 professional and semi-professional clients

>70,000private clients

* All figures are approximate at the time of the presentation** CORESTATE Capital Holding S.A.

*

4

Markets and Locations

Our current markets

Our target markets

European presence

in 11 countries Offices in key economic

regions

Further expansion

into European core markets

High local expertise

through >130 operating

locations directly on-site

5

History of the Group

2009

Foundation of the micro

living operator

Acquisitionof the

leading UK student

operator

2018

Acquisitionof the

asset & fund manager

2016

Foundation of the

residential property manager

2013

€3bn AuM FY 2016

€22bn AuM FY 2017

€28bn** AuM 2020

2017

Acquisitionof DACH’s

leading mezzanine

financer

Acquisitionof the asset & commercial

property manager

2017

Acquisitionof the real

estate project valuer

2017

Prime Standard

Listing in the SDAX of the

Frankfurt Stock Exchange*

2017

Foundationof the

investment & asset manager

2006

Acquisitionof the french

real estate investment

manager

2020

€25bn AuM FY 2018

* CORESTATE Capital Holding S.A.** Inkl. der AuM durch die Akquisition von STAM Europe auf Pro-forma-Basis

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Management Board

Lars SchnidrigCEO

• Investment Management

• Equity Raising

• Marketing

• Research

• Client Relations

21 years of experience in Investment and Asset Management• BNP Paribas REIM

• SEB Asset Management

• Deutsche Bank Real Estate Investment

Nils HübenerCIO

Accountability

Experience17 years of CFO experience at the Board and Management level• Vonovia Finance B.V.

• Vonovia SE

• HypoVereinsbank AG

• Strategy, Business Development, M&A

• Investor Relations & Communication

• Finance

• ESG-Integration

• Human Resources

• IT

• Legal, Compliance & Risk Management

• Fund, Asset & Property Management

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Management StructureCustomer-focused & holistic corporate management

Executive-CommitteeESG-CommitteeOperating-Committee

• Goal: Steering of the operating business

• Members: CEO, CIO, COO, CFO, Group Head of Equity Raising, Head of Commercial Investments

• Cycle: Monthly

• >200 years of real estate experience collectively

Investment-Committee

• Goal: Major buying and selling decisions

• Members: CEO, CIO, COO, CFO, Group Head of Equity Raising

• Cycle: Monthly

• >100 years of transactionexperience collectively

• Goal: Implementation of ESG strategy; new industry standard; publication of (digital) sustainability report

• Members: Group Sustainability Officer, CEO, Heads of Departments

• Cycle: Monthly

• Goal: Steering the Group Holding

• Members: CEO, CFO, COO, CLO, CMO

• Cycle: Monthly

• >100 years experience in corporate management collectively

Management Board

• Goal: Efficient lean / formal decision making

• Members: CEO, CIO

Operating Business Holding

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Operational Business Model

Hannover Leasing & STAM

30 years of experience

CORESTATE

14 years of experienceCORESTATE

14 years of experienceCORESTATE

14 years of experienceSTAM

23 years of experienceHelvetic Financial

Services

11 years of experience€ 1.2 billionfund volume

Atos & STAM

13 years of experience> 1,100 units

Capera

7 years of experience> 25,000 units

Upartments & CRM

13 years of experience> 30,000 units

Atos

13 years of experience> 900 units

STAM

4 years of experience>25 logistics centres

Genost

11 years of experienceAudited project

volume > € 56 billion

Customer

Investment Structure

Product & return**

Services

3.5%–5.0% 4.0%–4.5% 5.0%–5.5% 5.0%–6.0% 5.0%–7.0 % 11.0%–13.0%

Individual Mandate Club Deals*Funds

Semi-Professional Private Investor

Office MezzanineResidential Micro Living Retail

On

e-S

top

-Sh

op

Asset Management

Property Management

Logistics

Institutional

Coverage of all value-driving real estate services through our own in-house expertise Risk Underwriting

market-leading market-leading

* Mainly individual investment structures with frequently above-average returns** The returns are based on average performance from the past. All figures are preliminary and only represent forecasts that are not guaranteed. The past performance of other investments managed by the CORESTATE Capital Group is not a guarantee of future performance.

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Value Optimisation & Sustainability

Asset Management

Disposition

Investment Management

Acquisition

Investment Management

Financial Services

Fund Management

Property Management

• Deal sourcing & structuring

• Due diligence

• Off-market deals & bidding procedures

• Contract negotiation

• Conclusion

• Review of financing structures

• Bank selection, tendering, benchmarking

• Contract negotiation & conclusion

• Fulfilment of the disbursement condition

• Administration & reporting

• Fund Structuring

• Risk & Compliance

• Portfolio Management

• Investor Reporting

• Performance Analysis

• Condition control of the property

• Inspections of technical installations

• Repairs

• Building accounting & service charge settlement

• Contract negotiation

• Conclusion

• ESG review

• Building strategies

• Business plans

• ESG asset management

• Representation of owner interests

• Increase in rental income

• Optimisation of running costs

• Refurbishments

• Control of property management

From investment to exit, a client receives the full service offering from a single source

Fully Integrated Service ModelCoverage of services through in-house expertise within the group

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Expertise & Track Record

€ 34 billion

realised transaction volumesince 2006

€ 6 billion

transaction pipeline

€ 2.57 billion

re-financing in 44 deals in the last 2 years

Investment

Financing

FundManagement

Asset Management

Property Management

26 employees

with > 280 years* of investment experience

39 employees

with > 310 years* of financing experience

>120Funds under management

2 Group-owned KVGs

that can offer the entire spectrum of regulated and non-regulated RE funds

39 employees

with > 350 years* ofFund experience

2.81 million sqm

of managed space

73 employees

with > 650 years* ofasset management experience

57,000managed units

Ø 18,000 Conclusion of rental agreements

per year

439 employees

with > 3,500 years* ofproperty management experience

35,000 apartments

built in 295 projects supported by mezzanine financing

>33,000Micro Living units

under management

* All figures are approximate at the time of the presentation** Cumulative appraised figures for the overall areas

*

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Logistics & Light Industrial

Germany, France

In the immediate proximity of important traffic crossroads

Project developments and portfolio properties

Asset Class Competence

€ 24.8 billion* in real estate

Plus € 3.5 billionnon-real estate

Residential• Germany, France

• Top 7 cities (Germany), Paris region

• Project developments and portfolio properties

Office• Germany, France,

Benelux, UK

• Top 7 cities (Germany), metropolises

• Project developments and portfolio properties

24 %*

14 %*

30 %*

25 %*

3 %*

Micro LivingGermany, Spain, Austria,

Switzerland, UK

A-cities and university cities

Project developments and portfolio properties

Other• Germany

• Healthcare, hospitality, infrastructure

RetailGermany

medium-sized cities

Existing properties

High street, shopping centres, retail parks

* Incl. the AuM through the acquisition of STAM Europe on a pro forma basis 12

4 %*

Ratings & Awards of the CORESTATE Group

Highlights - Management Performance Highlights - Assets

The Group's high level of professional competence is reflected in numerous awards at management & property level

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Megatrends

Urbanisation

Demographic transition Digitalisation

Sustainability

Products

Megatrends and their impact on real estate are a key component for us in developing new products

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Strengths

High Real Estate Expertise

Within the Corestate Group, we have enormous real estate expertise, both in depth and breadth.

Customer valueSustainable product solutions and high service quality.

Good Market Knowledge

We are well networked both nationally and internationally and know the local peculiarities of the markets. In 11 countries we are directly on-site for our customers.

Customer valueEarly identification of investment opportunities.

High Dynamics

Stable Company Balance Sheet

We have a strong and sustainably solid company balance sheet.

Customer valueThe assurance that we will continue to be a trusted business partner tomorrow.

Fully Integrated Business Model

We offer fully integrated solutions with a one-stop-shop approach

Customer valueAll services from a single source and a wide selection of risk-return profiles.

Our organisation is characterised by flat hierarchies, flexible structures and entrepreneurial spirit.

Customer valueFast decision making and very agile partners in the executive.

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Strategic Core Areas

Our six strategic core areas for further company development

Expansion of the product range

• Systematic extension of existing asset classes

• Development of new asset classes

• Expansion of the offer for third-party mandates

• Expansion of cross-selling activities

• Implementation of ESG criteria throughout the performance cycle

Expansion of the customer base

• Across all investor groups

• National and International

Improvementof service quality

• Increase Service quality to ensure Best-in-Class

• INREV Investor Reporting

• Best-in-Class Asset Management

Development ofnew markets

• Expansion into other European countries to expand market coverage & client focus

Employment of the best employees

• Acquisition of new talent and high performers

• Long-term retention and promotion of existing high performers and knowledge leaders

Progressive Digitalisation

• Use of the latest IT solutions

• Digital ECO system

• Creation of real-time information and world of experience

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ESG Standards

The continuous integration of ESG factors into the CORESTATE Capital Group is driven by

the Group Sustainability Officer (GSO).

We are a responsible partner

We know that a proactive use of ESG (environmental, social, governance) provides added value for all customer groups:

Reduced operational risks

Increased portfolio efficiency

Increased trust

Our principles

Environment

Investment / Development of efficient buildings

ESG factors part of asset management

Improvement of the environmental impact

Social issues

Compliance with all occupational health and safety laws

Strengthening diversity

Inclusion of social challenges in product development

Cooperation with tenants for a continuous improvement of the rooms provided

Corporate Governance

Compliance- / Governance training

Compliance with standards, transparency and co-determination rights of investors (INREV)

Implementation of monthly ESG committees including Management Board and specialist departments

INREV

Signatory of

Objectives based on

Member of

First annual ESG report published in June 2019

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Specific ESG Objectives

Reduction inCo2-emissions* by

2% annually20% by 2025

Increase inenergy efficiency* by

5% annually30% by 2025

Reduction in watercomsumption* by

2% annually20% by 2025

Reduction in residual waste*

2% annually20% by 2025

Increase in the proportion of

women in managementby 5% annually

30% by 2025

Introduction of a

Guideline for employeewell-being

updated every 12 months

Development of at least

5 ESG partnershipswith major tenants

by 2025

Support of

A CC Charity incl. Soli-Employee Days

annually from 2020

Implementation of a

Compliance & Governance Training

of all employees,annually as of 2019

Ensure that every employeehas signed an

ethics declarationannually from 2020

Implementation of

12 ESG Comitteesto ensure compliance with set

targets, annually as of 2019

Compliance with thehighest standards in

investor transparencycontinued and continuous

* Within the total managed portfolio 18

Company Values

SustainabilityWe develop long-term solutions for our clients,

stakeholders and colleagues working to preserve the environment and to achieve continuous

improvement and business growth.

IntegrityWe act with integrity in all aspects of our work to ensure honesty, transparency, trustworthiness and reliability in all we set to achieve.

RespectWe promote a working environment

in which we act with appreciation and due regard to the needs and rights of

our clients, stakeholders and colleagues.

ProfessionalismWe promote competence, efficiency and quality in our day to day activities with our clients, stakeholders and colleagues.

Team Spirit We work together as one team across the group, supporting, helping and developing each other.

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Promise of Quality

High Service Quality across all areas and with a separate customer service team

that exclusively focuses on the needs of our clients.

International StandardsINREV and the consideration of ESG factors

are part of our organization and our core processes.

Data SecurityWith state-of-the-art IT security systems, we attach the highest importance to the

protection of customer data.

Corporate Governance for all our stakeholders (employees, customers,

investors, shareholders, business partners).

Responsible Corporate Conductis taken into account in all our investment

activities throughout the Group.

Risk and Compliance Systemsare firmly anchored in all our

business segments & operations.

Award-winning Service QualityTop rankings in established industry

rankings in various categories.

Client

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Disclaimer

This document has been prepared for general information purposes only. It does not constitute or form part of, and should not be construed as constituting or forming part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares or securities in CORESTATE Capital Holding S.A. or any other company of the CORESTATE Capital Group (hereafter collectively referred to as the “Company”) or in any other financial instruments of the Company nor shall any part of this document nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of the Company or of another entity, which recognize the personal circumstances of the potential investor. Therefore, this cannot be deemed as financial services, investment advisory services, an offer for the acquisition of a financial instrument or general investment advice, legal or tax advice.

The information contained herein is for discussion purposes only and contain not sufficient information of the terms of the offer and a financial instrument itself. This document does not purport to contain all information that may be required to evaluate the Company and/or any other entity and/or the financial position of any of the foregoing. The potential investor should itself seek information from an investment advisor, certified accountant or tax accountant regarding the potential or actual investment.

The data and information contained herein has been obtained from various sources is believed to be reliable and accurate. All data and information derive from sources which

the Company believes to be reliable. Furthermore, the Company has used its best endeavors to ensure that the presented facts and opinions are adequate and correct. Forward-looking statements and statements are based on current estimates, expectations and forecasts of the Company regarding market and industry developments at the time of preparation. Nevertheless, no reliance may be placed for any purposes whatsoever on the information contained in this document or on its completeness, accuracy or fairness. Neither the Company nor any of its directors, officers or employees or any other person makes any warranty or gives any guarantee, neither express nor implied, as to the accuracy or completeness of the information contained in this document, in particular as to the accuracy of third party data, and accepts no liability for loss or damage of any kind in connection with this document, unless caused by gross negligence or intent of the Company and unless standing in a causal connection to the potential damage. The information is subject to change at any time (even without notification to the recipients).

The document, its contents, any discussions at a meeting or otherwise made available (whether orally or in writing) is being provided to you solely for information.

This document is an advertisement and not a financial analysis or a prospectus and investors should not subscribe for or purchase any shares or securities referred to in this document. The information and opinions expressed in this document are provided as of the date of this document. Certain statements, beliefs and opinions in this document, are forward-looking, which reflect the Company’s or, as

appropriate, the Company’s directors’ current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in this document regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this document. No statement in this presentation is intended to be nor may it be construed to be a profit forecast.

By attending the presentation to which this document relates or by accepting a copy of this document you agree to be bound by the foregoing limitations and, in particular you will be taken to have represented, warranted and undertaken that you have read and agree to comply with the contents of this notice.

This presentation has been compiled by CORESTATE Capital Advisors GmbH a company of the CORESTATE Capital Group, April 2020.

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