LEG Immobilien SE

Investor Presentation • Aug 10, 2021

LEG Immobilien SE H1-2021 Results

10 August 2021 H1-2021

H1-2021 Results

Agenda

• 1 Highlights H1-2021
• 2 Portfolio & Operating Performance
• 3 Financial Performance

4 Outlook

5

Appendix

While the company has taken all reasonable care to ensure that the facts stated in this presentation are accurate and that the opinions contained in it are fair and reasonable, this presentation is selective in nature and is intended to provide an introduction to, and an overview of the Company's business. Any opinions expressed in this presentation are subject to change without notice and neither the Company nor any other person is under any obligation to update or keep current the information contained in this presentation. Where this presentation quotes any information or statistics from any external sources, you should not interpret that the Company has adopted or endorsed such information or statistics as being accurate.

This presentation may contain forward-looking statements that are subject to risks and uncertainties, including those pertaining to the anticipated benefits to be realised from the proposals described herein. Forward-looking statements may include, in particular, statements about future events, future financial performance, plans, strategies, expectations, prospects, competitive environment, regulation, and supply and demand. The Company has based these forwardlooking statements on its views and assumptions with respect to future events and financial performance. Actual financial performance could differ materially from that projected in the forward-looking statements due to the inherent uncertainty of estimates, forecasts and projections, and financial performance may be better or worse than anticipated. Given these uncertainties, readers should not put undue reliance on any forward-looking statements. The information contained in this presentation is subject to change without notice and the Company does not undertake any duty to update the information and forward-looking statements, and the estimates and assumptions associated with them, except to the extent required by applicable laws and regulations.

This presentation does not constitute an offer or invitation to purchase or sell any shares in the Company and neither this presentation or anything in it shall form the basis of, or be relied upon in connection with, any contract or commitment whatsoever.

Highlights H1-2021

1

H1 2021 – Financial Summary

			+/-
Operating results		H1-2021	H1-2020	%/bps
Net cold rent	€m	338.5	308.0	+9.9%
Net rental income	€m	266.4	239.5	+11.2%
EBITDA adjusted	€m	261.3	235.2	+11.1%
FFO I	€m	218.2	194.6	+12.1%
FFO I per share	€	3.03	2.82	+7.4%
FFO II	€m	216.2	193.4	+11.8%
EBITDA margin (adj.)	%	77.2	76.4	+80bps
FFO I margin	%	64.5	63.2	+130bps

				+/-
Portfolio		30.06.2021	30.06.2020	%/bps
Residential units	number	144,892	137,525	+5.4%
In-place rent (l-f-l)	€/m2	6.09	5.88	+3.5%
Capex	€m	147.0	122.4	+20.1%
Maintenance	€m	51.2	37.1	+38.0%
EPRA vacancy rate (l-f-l)	%	2.5	3.3	–80bps

			+/-
Balance sheet		30.06.2021	31.12.2020	%/bps
Investment properties	€m	15,963.2	14,582.7	+9.5%
Cash and cash equivalents	€m	886.4	335.4	+164.3%
Equity	€m	8,285.7	7,389.9	+12.1%
Total financing liabilities	€m	6,747.6	5,869.0	+15.0%
Current financing liabilities	€m	111.5	491.3	–77.3%
Net debt	€m	5,834.2	5,502.8	+6.0%
LTV	%	36.4	37.6	–120bps
Equity ratio	%	48.0	48.4	–40bps
EPRA NTA, diluted	€m	10,366.9	9,247.6	+12.1%
EPRA NTA per share, diluted	€	135.85	122.43	+11.0%

A very strong H1 2021

FFO I pointing towards upper end of €410m – 420m range

• FFO I +12.1% to €218.2m
• Adj. EBITDA-Margin 77.2% (+80bps)
• LTV 36.4%
• Debt @ 7.7y for 1.24%

• NTA ps € 135.85 (+11.0%)

• Net cold rent +9.9%

• l-f-l rental growth +3.5%

• l-f-l vacancy 2.5% (–80bps)

• Immediate support for flood affected tenants and employees

• Comprehensive ESG strategy published
• On track for our 3% energetic refurbishment target

Keeping the momentum

Operational excellence

Further efficiency gains from scale and scope effects

Still at attractive levels Valuation uplift of 7.5% (incl. capex 8.5%)

~4,000 units added YTD

Major step towards our target of ~7,000 units

Growing platform at improving margins FFO I specified towards upper end of range

Highlights

Aftermath flood event 13th – 18th July

Extensive support for tenants and employees offered

Situation post event

• ~200 units directly affected
• 35 units inhabitable due to flood
• No structural damage to buildings
• Clearing activities ongoing first repairs started
• Main affected location Bad Neuenahr - Ahrweiler (RLP)
• Comprehensive insurance coverage leaves direct impact on LEG neglectable

Support for tenants

• Short-term accommodations / hotels and exchange home offerings
• €500 €2,000 immediate emergency aid for inhabitable units
• €1m special budget to support clearing out activities

• €250,000 flood relief from LEG foundations

• Local food trucks for tenants and local helpers

• Online vouchers for helping tenants

Support for employees

• Up to 2 weeks off for clearing up own home
• €200 one-time payment for flooded cellar, €1,000 for affected rooms and €2,000 in case of inhabitable apartment

~4,000 units transferred in 2021

A major step towards our 7,000 units ambition – in line with our criteria

Financial summary of acquisitions

• As of today ~4,000 units to be transferred in 2021
• Purchase price below €600m
• Net cold rent multiple of ~27x based on in-place rent and in-line with own valuation
• Annualised contribution to EBITDA of ~€17m and to FFO I of ~€13m
• Majority to be transferred in Q3 and Q4 2021

Background & Rationale

• 2 bigger portfolio deals represent 2/3 of the acquisitions
• Focus on affordable housing
• Focus on Rhine-Neckar area with metropolitan areas like Mannheim and in NRW with Duesseldorf/ Cologne
• Up-side potential from modernisations
• Leveraging of platform along established hubs

1 Based on signings as of early August 2021; 4,000 units including deals signed in 2020, which have been transferred in 2021 (details p.11)

Portfolio overview 144,892 units as of 06/2021

Outside North Rhine-Westphalia (~12,300 units / ~8%)

Growth along our investment criteria

• Asset class affordable living
• Entry via orange and green markets

• 1,000 units per location

Portfolio transactions

Heading towards the 150,000 units mark

Number of units based on date of transfer of ownership1,2

1 Residential units. 2 Note: The date of the transaction announcement and the transfer of ownership are usually several months apart. The number of units may therefore differ from other disclosures, depending on the data basis. 3 BW = Baden-Wurttemberg, HB = Bremen, LS = Lower Saxony, NRW = North Rhine-Westphalia, RP = Rhineland-Palatinate, SH = Schleswig-Holstein.

Acquisitions (Locations/State3)

Q3 2020

NRW – Flensburg (SH)

Q4 2020

NRW – Brunswick (LS) – Hanover (LS) – Koblenz (RP) – Rhine-Neckar (RP/BW)

Q1 2021

NRW – Oldenburg (LS)

Q2 2021

NRW – Oldenburg (LS) – Hanover (LS) – Brunswick (LS) – Kaiserslautern, Koblenz (RP)

Q3 2021

NRW – Hanover (LS) – Brunswick (LS)

Q4 2021

NRW – Rhine-Neckar (RP/BW)

On track for 3.0% l-f-l rental growth target

Temporary catch-up effects from rent increase waiver due to Covid-19 in Q2-2020

6.09 5.88 6.50 6.24 H1-2021 H1-2020 H1-2021 H1-2020 7.54 7.22 6.16 5.90 5.87 5.65 H1-2021 H1-2020 H1-2021 H1-2020 H1-2021 H1-2020 l-f-l rent development €/m2/month l-f-l free financed rent development €/m2/month Stable +4.4% Higher-yielding +3.8% +4.4% High-growth +4.2% Free financed rent +3.5% Residential rent Rent table +2.0% Modernisation/ +1.5% Re-letting

• Ongoing strong momentum in all of our three market segments; +4.2% for free financed portfolio
• Comparatively low baseline in previous year due to temporary suspension of rent increases; full year guidance of ~3.0% confirmed
• New rent tables in H1 include our largest location Dortmund (+4.4%)
• Rent restricted units: no cost rent adjustments in 2021

Positive across all market clusters

In-place rent, l-f-l

Market split (GAV) %

High-growth 45.5 Stable 34.7 Higher-yielding 19.8

Vacancy, l-f-l % 1.5 High-growth

Markets

	Total portfolio		High-growth		Stable		Higher-yielding
	H1-2021	 (YOY)	H1-2021	 (YOY)	H1-2021	 (YOY)	H1-2021	 (YOY)
# of units	144,892	+5.4%	46,170	+10.1%	56,500	+6.0%	42,222	0.0%
GAV residential assets (€m)	15,183	+21.3%	6,909	+23.8%	5,275	+23.8%	3,000	+12.7%
In-place rent (m2 ), l-f-l	€6.09	+3.5%	€6.88	+3.6%	€5.80	+3.6%	€5.59	+3.3%
EPRA vacancy, l-f-l	2.5%	–80 bps	1.5%	–30 bps	2.5%	–80 bps	3.8%	–140 bps

Value-added services

Leveraging LEG's portfolio and customer base to services business

Capex und Maintenance

Ongoing focus on growth and energy efficiency

• Increase of investments with ~24% y-o-y within plan
• ~12% increase in capex driven by significant growth in value-enhancing turn-cost spending and growth in modernisations
• Energetic measures are the biggest driver for modernisation spending – on track with our ESG strategy
• Increase in Maintenance costs by ~21% driven among others by portfolio growth, price increases and special refurbishment projects to also increase customer satisfaction

Financial Performance 3

Margins continue to grow in H1

Benefiting from scale and scope effects as well as value-added services

Adj. EBITDA €m 235.2 261.2 H1-2020 H1-2021 +11.1% Margin 76.4% 77.2%

Recurring net rental and lease income

• Ongoing scale and scope effects through acquisitions and rent increases
• Strong performance of value-added services

Adj. EBITDA

• Confirmation of margin guidance (~75%)
• Rebalancing of margin in H2 due to cost effects (similar to 2020)

FFO I ps

	H1-2021	€3.03
	H1-2020	€2.82

Financial Performance

194.6

€m

FFO I

FFO Bridge H1-2021 Increase of +€23.6 m (+12.1%)

Valuation uplift by markets

Portfolio valuation H1-2021 – Breakdown revaluation gains

Valuation uplift driven by letting performance and yield compression

€m 8.7 Total High-growth Stable Higher-yielding Discount rate 974 Rent performance & building 283 Revaluation gains 1,110 Capex 147 €m % Total €1,257m Total €1,257m

Allocation of capital growth

Portfolio valuation +7.5%, including capex +8.5%

Financial Performance

Value drivers

• Significant valuation uplift in all of our markets further potential for H2 expected
• Adjustment of discount rate from 4.5% end of FY-2020 to 4.2% (cap rate from 5.7% to 5.5%)

Portfolio valuation H1-2021

Market segment	Residential Units	GAV Residential Assets (€m)	GAV/ m2 (€)	Gross yield	In-Place Rent Multiple	GAV Commercial/ Other (€m)	Total GAV (€m)
High-Growth Markets	46,170	6,909	2,253	3.6%	27.6x	284	7,192
Stable Markets	56,500	5,275	1,461	4.7%	21.2x	159	5,435
Higher-Yielding Markets	42,222	3,000	1,164	5.6%	17.8x	87	3,087
Total Portfolio	144,892	15,183	1,641	4.4%	22.8x	531	15,714

Strong financial profile

Average debt maturity

years

1.5% 1.3% 1.5% 1.2% 1.0% 1.2% 1.5%

1.9%

Weighted avg. interest (excl. subsidised loans)

1.2%

0.8%

H1- 2021	7.7
H1- 2020	8.0

Average interest costs

1.35 2020

Loan-to-value

Highlights H1-2021

• Placement of €500m bond with coupon of 0.875% and 12 years maturity in Q1
• Placement of €600m sustainability bond with coupon of 0.75% and 10 years maturity in Q2
• Average interest costs down by 11 bps vs. H1-2020 and down by 9 bps vs. Q4-2020
• No maturities until 2023; 2023 recently reduced by early redemption
• LTV with 36.4% as well as Net debt/EBITDA (LTM: 11.8x) on low levels
• Pro-forma LTV of ~39% (i.e. including upcoming units being transferred in Q3 and Q4; see slide 11)
• Interest coverage improved further y-o-y to 6.2 (6.1)

Outlook 4

Outlook

2021 guidance FFO I guidance lifted towards upper end of range

			2021
FFO I			Upper end of €410m – 420m
l-f-l rent growth	~3.0%
adj. EBITDA margin	~75%
Investments	42€/m2 ~40 –
LTV	max. 43%
Dividend			70% of FFO I
Acquisition ambition			~7,000 units
Environment	2021 – 2024 2021	1 2	Reduction of CO2 emissions by 10% in 4 years1 Energetic refurbishment of 3% of units1
Social	2021 – 2024 2021 2021 – 2025	3 4 5	Maintain high employee satisfaction level (66% Trust Index) Reduction of iteration calls from tenants by 15% Best in class in customer recognition by 2025 with a Customer Satisfaction Index of >70%
Governance	2021	6	Maintain Sustainalytics rating at score of 10.4

New EPRA NRV – NTA – NDV

€m	30.06.2021			31.12.2020
	EPRA NRV – diluted	EPRA NTA – diluted	EPRA NDV – diluted	EPRA NRV – diluted	EPRA NTA – diluted	EPRA NDV – diluted
IFRS Equity attributable to shareholders (before minorities)	8,261.1	8,261.1	8,261.1	7,365.6	7,365.6	7,365.6
Hybrid instruments	449.0	449.0	449.0	464.3	464.3	464.3
Diluted NAV (at Fair Value)	8,710.1	8,710.1	8,710.1	7,829.9	7,829.9	7,829.9
Deferred tax in relation to fair value gains of IP and deferred tax on subsidised loans and financial derivatives	1,682.9	1,669.4	–	1,431.3	1,417.4	–
Fair value of financial instruments	90.3	90.3	–	102.7	102.7	–
Goodwill as a result of deferred tax	–55.9	–55.9	–55.9	–55.9	–55.9	–55.9
Goodwill as per the IFRS balance sheet	–	–43.7	–43.7	–	–43.7	–43.7
Intangibles as per the IFRS balance sheet	–	–3.3	–	–	–2.8	–
Fair value of fixed interest rate debt	–	–	–350.6	–	–	–443.0
Deferred taxes of fixed interest rate debt	–	–	67.2	–	–	87.2
Revaluation of intangibles to fair value	–	–	–	–	–	–
Estimated ancillary acquisition costs (real estate transfer tax)	1,474.6	–	–	1,421.7	–	–
NAV	11,902.0	10,366.9	8,327.1	10,729.7	9,247.6	7,374.5
Fully diluted number of shares	76,310,308	76,310,308	76,310,308	75,534,292	75,534,292	75,534,292
NAV per share	155.97	135.851	109.12	142.05	122.43	97.63

1 Including RETT (Real Estate Transfer Taxes) the NTA would have been €154.98

FFO calculation

€m	H1 -2021	H1 -2020
Net cold rent	338.5	308.0
Profit from operating expenses	–0.6	–1.6
Maintenance (externally -procured services)	–29.0	–24.0
Staff costs	–41.4	–36.3
Allowances on rent receivables	–3.8	–4.3
Other	8.1	2.7
Non -recurring project costs (rental and lease)	3.3	2.1
Recurring net rental and lease income	275.1	246.6
Recurring net income from other services	4.2	4.5
Staff costs	–13.5	–11.1
Non -staff operating costs	–8.7	–11.2
Non -recurring project costs (admin.)	4.2	6.4
Recurring administrative expenses	–18.0	–15.9
Other income and expenses	0.0	–
Adjusted EBITDA	261.3	235.2
Cash interest expenses and income	–42.2	–38.6
Cash income taxes from rental and lease	–0.5	–1.2
FFO I (including non -controlling interests)	218.6	195.4
Non -controlling interests	–0.4	–0.8
FFO I (excluding non -controlling interests)	218.2	194.6
FFO II (including disposal of investment property)	216.2	193.4
Capex	–147.0	–122.4
Capex -adjusted FFO I (AFFO)	71.2	72.2

Net cold rent

+€30.5m or +9.9% driven by portfolio growth and rent increases

Staff costs

Growth in staff costs mainly due to increased tariff and additional FTE's, e.g. in newly acquired LWS Plus

Other

Increase driven by income from value -added services

Recurring net rental and lease income

+€28.5m or +11.6%

Recurring administrative expenses

Partially driven by higher headcount for IT and internal reallocation of resources

Adjusted EBITDA

+€26.1m or +11.1%

Cash interest expenses

Decline in average interest costs from 1.35% to 1.24% partially offsets higher debt volume

Balance sheet

€m	30.06.2021	31.12.2020
Investment property	15,963.2	14,582.7
Other non -current assets	294.8	264.9
Non -current assets	16,258.0	14,847.6
Receivables and other assets	126.1	77.7
Cash and cash equivalents	886.4	335.4
Current assets	1,012.5	413.1
Assets held for sale	1.7	21.6
Total Assets	17,272.2	15,282.3
Equity	8,285.7	7,389.9
Non -current financing liabilities	6,636.1	5,377.7
Other non -current liabilities	1,951.0	1,650.5
Non -current liabilities	8,587.1	7,028.2
Current financing liabilities	111.5	491.3
Other current liabilities	287.9	372.9
Current liabilities	399.4	864.2
Total Equity and Liabilities	17,272.2	15,282.3

Investment property

• Revaluation: +€1,110m
• Capex: +€147m
• Acquisitions: +€128m
• Others: –€6m

Cash and cash equivalents

• Cash flow from operating activities €190.6m
• Investing activities –€316.1m
• Financing activities €676.5m
• Bond issuance €1,088.6m
• Repayment of loans –€218.7m
• Cash Dividend payment –€185.7m (scrip dividend offered)

Loan to Value

Loan to Value (LTV) in %	36.4	37.6
Property values	16,040.7	14.647,6
Prepayments for investment properties	75.8	43.3
Properties held for sale	1.7	21.6
Investment properties	15,963.2	14,582.7
Net Debt	5,834.2	5,502.8
Cash & cash equivalents	886.4	335.4
Excluding lease liabilities (IFRS 16)	27.0	30.8
Financial liabilities	6,747.6	5,869.0
€m	30.06.2021	31.12.2020

• LTV down 120 bps vs. FY-2020
• Higher net debt overcompensated by increase in property values
• Low LTV enables further portfolio expansion
• Pro-forma LTV ~39% (including upcoming units being transferred in Q3 and Q4; see slide 11)

Income statement

€m	H1-2021	H1-2020
Net rental and lease income	266.4	239.5
Net income from the disposal of investment property	–0.4	–0.6
Net income from the valuation of investment property	1,110.3	592.7
Net income from the disposal of real estate inventory	0.0	–1.8
Net income from other services	2.7	3.0
Administrative and other expenses	–24.1	–24.4
Other income	0.0	0.0
Operating earnings	1,354.9	808.4
Net finance costs	–39.4	–53.8
Earnings before income taxes	1,315.5	754.6
Income tax expenses	–252.2	–141.2
Consolidated net profit	1,063.3	613.4

Recurring net rental and lease income

NRI increased by €26.9m or +11.2% YOY

Administrative and other expenses

Higher staff costs offset by lower other expenses (e.g. consulting fees)

Net finance costs

• Strong positive effects driven by LEG's share price performance from the fair value measurement of derivatives linked to the convertible bonds in the amount of €14.1m (H1- 2020: –€9.9m)
• €11.4m increase in interest expenses mainly due to early redemption charges and measurement effects of financial instruments

Income tax expenses

Effective tax rate of 19.2% (H1-2020: 18.7%), mainly deferred taxes due to revaluation gains

Cash effective interest expense

Cash effective interest expense

Interest coverage improved further y-o-y to 6.2 (6.1)

€m	H1-2021	H1-2020
Reported interest expense	57.1	45.7
Interest expense related to loan amortisation	–8.0	–6.2
Interest costs related to valuation of assets/liabilities	–0.1	–0.1
Interest expenses related to changes in pension provisions	–0.3	–0.6
Other interest expenses	–6.6	–0.2
Cash effective interest expense (gross)	42.2	38.6
Cash effective interest income	0.0	0.0
Cash effective interest expense (net)	42.2	38.6

Investments

Reconciliation from investments to adjusted investments

H1-2021	H1-2020	FY-2020
51.2	37.1	98.3
5.4	–	2.6
0.9	–	0.2
44.9	37.1	95.5
147.0	122.4	290.4
3.2	2.2	4.8
8.2	–	10.8
135.7	120.2	274.8
198.2	159.5	388.7
180.6	157.3	370.3
9.43	8.91	9.03
19.13	17.65	41.00

Refinancing of subsidised loans lifting value

Rent potential subsidised units

• Until 2028, around 23,000 units will come off rent restriction
• Units show significant upside to market rents
• The economic upside can theoretically be realised the year after restrictions expire, subject to general legal and other restrictions5

Around 65% of units to come off restriction until 2028

Number of units coming off restriction and rent upside

Spread to market rent

€/m2/month

1 In H1 already 982 units released. 2 Employed by CBRE as indicator of an average rent value that could theoretically be achieved, not implying that an adjustment of the in-place rent to the market rent is feasible, as stringent legal and contractual restrictions regarding rent increases exist. 3 ≤5 years = 2021-2025; 6-10 years = 2026-2030; >10 years = 2031ff. 4 Rent upside is defined as the difference between LEG in-place rent and market. 5 For example rent increase cap of 15% or 20% for three years.

LEG additional creditor information

Unsecured financing covenants Financing mix

Covenant	Threshold	H1-2021
Consolidated Adjusted EBITDA / Net Cash Interest	≥1.8x	5.9x
Unencumbered Assets / Unsecured Financial Indebtedness	≥125%	188%
Net Financial Indebtedness / Total Assets	≤60%	34%
Secured Financial Indebtedness / Total Assets	≤45%	17%

Fixed interest 86.9% Derivatives 6.6% Variable interest 6.4%

Ratings (Moody's) Key financial ratios

Type	Rating	Outlook
Long Term Rating	Baa1	Stable
Short Term Rating	P-2	Stable

	H1-2021	H1-2020
Net debt / EBITDA	11.8x	10.2x
LTV	36.4%	34.4%

Capital market financing Corporate bonds

ISIN	XS1554456613	DE000A254P51	DE000A254P69	DE000A3H3JU7	DE000A3E5VK1
 Net financial debt/ total assets ≤ 60%  Secured financial debt/ total assets ≤ 45% Financial Covenants  Unencumbered assets/ unsecured financial debt ≥ 125%  Adj. EBITDA/ net cash interest ≥ 1.8 x
Issue Price	99.409%	99.356%	98.649%	99.232%	99.502%
Coupon	1.250% p.a. (annual payment)	0.875% p.a. (annual payment)	1.625% p.a. (annual payment)	0.875% p.a. (annual payment)	0.750 % p.a. (annual payment)
Term / Maturity Date	7 years / 23 January 2024	8 years / 28 November 2027	15 years / 28 November 2034	12 years / 30 March 2033	10 years / 30 June 2031
Issue Size	2017/2024 €500m	2019/2027 €500m	2019/2034 €300m	2021/2033 €500m	2021/2031 (sustainable bond) €600m

Our Sustainable Financing Framework

Part of our sustainable business strategy

Affordable and Social Housing Community Engagement Green Buildings & Energy Efficiency Renewable Energy Clean Transportation Proceeds managed using a portfolio approach Unallocated proceeds may be used in line with company's investment strategy LEG has established its Sustainable Financing Framework to finance or refinance social and green assets that contribute to its ESG agenda The Framework is developed to be in line with the ICMA, LMA and APLMA principles for sustainable financing and contributes towards the United Nations Sustainable Development Goals Sustainable asset pool: around €3.3bn

Sustainable Financing Framework
Use of Proceeds	Process for Asset Evaluation and Selection
Affordable and Social Housing Community Engagement Green Buildings & Energy Efficiency Clean Transportation	 Dedicated Sustainable Financing Committee responsible for evaluation and selection of eligible assets
Proceeds managed using a portfolio approach Unallocated proceeds may be used in line with company's investment strategy	 Allocation and impact reporting provided annually until full allocation of net outstanding Sustainable Bond proceeds
Management of Proceeds	Reporting
Framework reviewed by Second-Party Opinion ("SPO") provider Sustainalytics stating that it is credible and impactful

Capital market financing Convertible bonds

2017/2025	2020/2028
€400m	€550m
8 years/ 1 September 2025	8 years/ 30 June 2028
0.875% p.a. (semi-annual payment: 1 March, 1 September)	0.4% p.a. (semi-annual payment: 15 January, 15 July)
3,470,683	3,556,142
€118.4692	€155.2500
€115.2511 (as of 10 June 2021)	€154.6620 (as of 14 June 2021)
From 22 September 2022, if LEG share price >130% of the then applicable conversion price	From 5 August 2025, if LEG share price >130% of the then applicable conversion price
DE000A2GSDH2	DE000A289T23
A2GSDH	A289T2

1 Dividend-protection: The conversion price will not be adjusted until the dividend exceeds €2.76 (2017/2025 convertible) and €3.60 (2020/2028 convertible).

LEG share information

Share (30.7.2021; indexed; in %; 1.2.2013 = 100)

Sustainable increase in share price and market capitalisation since IPO

IPO = Initial Public Offering; CI = capital increase; CIK = capital increase in kind; CB = convertible bond; SD = stock dividend

Financial calendar

For our detailed financial calendar, please visit our IR web page

IR Contact

Investor Relations Team

Frank Kopfinger, CFA Head of Investor Relations & Strategy

Tel: +49 (0) 211 4568-550 E-Mail: frank.kopfinger@leg-se.com Elke Franzmeier Assistant Investor Relations & Strategy

Tel: +49 (0) 211 4568-159 E-Mail: elke.franzmeier@leg-se.com

Karin Widenmann Senior Manager Investor Relations

Tel: +49 (0) 211 4568-458 E-Mail: karin.widenmann@leg-se.com Gordon Schönell, CIIA Senior Manager Investor Relations

Tel: +49 (0) 211 4568-286 E-Mail: gordon.schoenell@leg-se.com

LEG Immobilien SE ǀ Hans-Böckler-Str. 38 ǀ 40476 Düsseldorf, Germany Phone: +49 (0) 211 4568-400 ǀ Fax: +49 (0) 211 4568-22 204 ǀ E-Mail: ir@leg-se.com ǀ Internet: www.leg-se.com