MLP SE

Investor Presentation • Oct 22, 2019

The MLP Group – The partner for all financial matters

Management Roadshow

October / 2019

Agenda

• 1. MLP at a glance
• 1. Strategy
• 1. Business Performance H1 2019
• 1. Outlook

MLP Group

5 Brands – each with outstanding market position

Recent acquisition on 19 March 2019, closing on September 3

*H1 2019

MLP Group – Attractive dividend policy & stable shareholder structure

MLP Group – Strong substance and high potential

MLP Group

Quality: Stable business with a high proportion of recurring revenue

Potential: Growth opportunities in existing business

Positioning and liquidity form a strong basis

Agenda

• 1. MLP at a glance
• 1. Strategy
• 1. Business Performance H1 2019
• 1. Outlook

Strategic agenda

Strategic focus	Organic growth	Inorganic growth	Continued cost management
Implementation	• Strengthening of the university segment in the private client business: through focus on recruiting young consultants and acquiring clients • Further broadening of revenue basis: primarily through further expansion of wealth management, non-life insurance and real estate brokerage business • Accelerated implementation of digitalisation strategy: in particular extension of digital information and service offers	The MLP Group continues to target acquisitions and is open for opportunities in all fields of consulting.	• Ongoing efficiency management on the cost base, which was further structurally reduced in 2016 • Simultaneous investment in future projects

Making MLP less dependant to short-term market influences and building on profit level already achieved

Regulation – significant increase in consolidation within the market due to Life Insurance Reform Act (LVRG)

Accelerated drop in the number of intermediaries operating in the market

Trend is ongoing and has accelerated – MLP to play an active role in consolidation process

Effects of the Life Insurance Reform Act / Evaluation 2018 – Decision 2019

• Quality of consultancy and portfolio is even more important
• Sale organisations with a high cancellation rate lose trail commissions / Major challenges for pyramid sales organisations

• Evaluation of the LVRG in 2018:

• Commission-cap still in discussion. Politics actually develop implementation proposals
• MLP considers restriction on a general basis as not expedient
• In case of a restriction high quality consulting still has to be rewarded – as already proposed by the BaFin

Ongoing strengthening of the university segment

Successful development

5 regional managers with sales experience appointed* 87 university team leaders acquired* Applications to work as MLP consultants more than doubled in 2018 compared to the previous year Outlook for 2019: Further dynamism anticipated in hiring of new consultants * H1/2019

Investments of around € 8 million in the university segment in 2019 Investments starting to pay off

Strategic initiatives in recruiting young consultants are paying off

Successful diversification of the revenue basis

Recent acquisition of DEUTSCHLAND.Immobilien to further develop real estate business

Wealth management keeps on track – raising demand especially for alternative assets at FERI

Consistent implementation of digitalisation strategy

Intelligent combination of face-to-face consulting and digital services

Digital support increases consulting efficiency and client proximity

Expanded online client support by MLP consultants

Profile of DEUTSCHLAND.Immobilien

Brokerage and project development in the real estate sector

DEUTSCHLAND.Immobilien web portal

B2B

• Roughly 5,800 sales partners are registered in the system
• Brokers can process all steps, from gathering information, through calculations and reservations, all the way up to the actual sale and commission calculation
• Property developers have complete transparency regarding the sales status of their properties

B2C

• Several thousand prospective and existing clients are in the system
• Prospective clients are provided with regular information on new products

Enormous potential in real estate brokerage

Real estate volume brokered by MLP consultants

Agenda

• 1. MLP at a glance
• 1. Strategy
• 1. Business Performance H1 2019
• 1. Outlook

H1/2019: Total revenue rose to a new high

Total revenue

H1/2019: Growth in virtually all fields of consulting

Revenue H1/Q2

In € million

Previous year's values in brackets * Excluding MLP Hyp

Revenue breakdown:

H1/2019: Successful diversification beyond old-age provision

H1/2019: EBIT of € 12.2 million generated

Income statement

In € million	Q2 2018	Q2 2019	H1 2018	H1 2019
Total revenue	142.7	151.4	310.6	329.2
EBIT	-1.0	-0.3	12.1	12.2
Finance cost	0.0	-0.3	-0.4	-0.6
EBT	-0.9	-0.7	11.7	11.6
Taxes	1.4	0.6	-1.9	-2.6
Net profit	0.5	-0.1	9.8	9.0
EPS in Euro (diluted/basic)	0.00	0.00	0.09	0.08

H1/2019: Core capital ratio at 18.5 %

Balance sheet overview

Assets	In € million	Dec. 31, 2018	June 30, 2019
Intangible assets		155.9	152.7	Equity ratio: 15.7 %
Property, plant and equipment		78.3	132.8
Financial assets		165.3	178.4	Core capital ratio 18.5 %
Receivables from clients in the banking business		761.0	787.2
Receivables from banks in the banking business		694.2	687.3	Eligible own funds: ~ € 262 million
Other receivables and assets		158.1	148.3
Cash and cash equivalents		385.9	471.7

Liabilities and shareholders' equity

Shareholders' equity	424.8	406.3
Provisions	94.5	85.7
Liabilities due to clients in the banking business	1,638.9	1,797.9
Liabilities due to banks in the banking business	81.6	92.4
Other liabilities	165.8	190.1
Balance sheet total	2,421.0	2,586.4

Agenda

• 1. MLP at a glance
• 1. Strategy
• 1. Business Performance H1 2019
• 1. Outlook 2019

Forecast for the financial year 2019 confirmed

Qualitative assessment of revenue development Earnings performance

Page 25 Management Roadshow October / 2019

• Permanent further development successfully advanced in 2018
• Revenue increased substantially in the first six months continued sound basis for the remainder of the financial year
• Implementation of strategic agenda is well underway significant potential within the entire MLP Group
• Further development of the university segment is delivering results
• Despite repeated comprehensive investments in the future: Slight increase in EBIT in 2019