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MLP SE

Investor Presentation • Feb 29, 2012

289_ip_2012-02-29_17c9a921-1904-4762-b75c-1663096ee22c.pdf

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Preliminary results 2011

Frankfurt – February 29th, 2012

Agenda

  • • Highlights 2011 Dr. Uwe Schroeder-Wildberg, CEO
  • • Business Development 2011 Reinhard Loose, CFO
  • • Strategy, Outlook and Summary Dr. Uwe Schroeder-Wildberg, CEO
  • •Questions & Answers

Preliminary results 2011

Dr. Uwe Schroeder-Wildberg, CEO Highlights 2011

Overview

  • • High momentum in the fourth quarter – especially in old-age provision
  • • In the full year MLP grew revenues by 4 % and increased operating EBIT by 11 %
  • •Investment and efficiency programme remains on schedule
  • • In 2011MLP implemented important realignments
  • • The Executive Board proposes a dividend of 60 cents per share

Euro debt crisis is influencing provision behaviour

Do you fear that the current crisis in the euro-zone will have an effect on your pension or old-age provision – or do you not fear that outcome?

Base: Federal Republic of Germany, Population aged 16 years and older Source: German Insurance Association / Allensbach survey: Old-age provision of the German population in 2012, January 26, 2012

High volatility in the capital markets led to hesitancy and restraint in wealth management

Development of DAX-Volatility Index since 2007

Source: Reuters

Distinct advantages through a holistic consulting approach

FY 2005 (Revenue from commissions and fees: € 467.9 million)

FY 2011 (Revenue from commissions and fees: € 498.5 million)

FY 2011: Increased revenues and operating result

Preliminary results 2011

Reinhard Loose, CFO Business Development 2011

Q4: Total revenues increased by 9 percent

Continuing operations

Total revenues

MLP achieved growth in all consulting areas

Continuing operations

Revenue from commissions and fees

[in € million]

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Strong final quarter in old-age provision

New business

New business in old-age provision

Assets under Management

34,600 new clients – high momentum in Q4

New clients (gross) Consultants

Reduction in adjusted fixed costs by € 6.3 million

Fixed costs* – after adjustment for one-offs

Significant increase in operating EBIT

EBIT development

Rise in revenues and operating result

MLP Group

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  • y FY 2011: € 33.4 million one-offs
  • y Q4 2011: € 19.3 million one-offs
  • y Operating EBIT margin FY 2011: 9.6% (2010: 9.0%)

Strong balance sheet

MLP Group

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  • Liquid funds: € 171 million
  • Equity ratio: 26.8 %
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Dividend increases to 60 cents per share

Dividend per share

  • y Constant regular dividend despite one-off exceptional cost
  • y In addition, return of surplus liquidity

Preliminary results 2011

Dr. Uwe Schroeder-Wildberg, CEO Strategy, Outlook, Summary

Recent awards highlight MLP´s client orientation

WhoFinance consultant rankings

The financial institutions whose clients gave their consultants the highest rating (5 = completely satisfied, 1 = not at all satisfied)

  • y First place on the client assessment portal WhoFinance
  • y Best Wealth Manager 2012 award presented by Fuchsbriefe to the MLP subsidiary Feri
  • y MLP once again received an award from magazine Euro as one of the top 3 mortgage providers in Germany

Source : 21,000 client assessments at www.whofinance.de; December 2011; Wirtschaftswoche (01/2012)

Significant slowdown in the economy

Outlook

Change in Gross Domestic Product (GDP)

Source: Federal Statistical Office, German government

  • •2011: Stable economy in Germany
  • • But: issues surrounding the European debt crisis and rising inflation remain dominant themes
  • • Significant economic slowdown expected in 2012

Growth anticipated in all three core areas

Outlook

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  • • Qualitative forecast made a year ago fundamentally confirmed:
  • yOld-age provision: slight increase in revenues in 2012
  • yHealth insurance: slight increase in revenues in 2012
  • yWealth management: stronger growth in 2012
  • • Due to the challenging market environment, future development in all three consulting areas remains somewhat uncertain

New structure at Feri enables even better coverage of changing investor needs

  • y Rise in revenues expected through growth in consulting activities for private and institutional clients
  • y Additional growth through increased fund administration at ITM – but with a lower margin

Growth driver – Occupational pensions

  • yThis business area has been successfully built up since 2004
  • y Occupational pension business now accounts for 13 percent of the premium sum (FY 2010: 9 percent)
  • y Provision of consulting and services to more than 5,000 companies and employers
  • yLargest German occupational pensions broker
  • y Established in the market for independent consulters behind international firms such as Mercer, Watson Wyatt and Aon Jauch & Hübener
  • ÆHigh potential for 2012 and beyond

2012: Reduction in fixed costs to around € 249 million

Outlook

Development of fixed costs

[in € million]

  • y 2011: Adjusted fixed costs reduced by € 6.3 million
  • y Investment and efficiency programme remains on track
  • yNo one-off exceptional costs

* After adjustment for one-offs

Goal 2012: Operating EBIT margin 15 percent

MLP Group

EBIT margin

* After adjustment for one-offs ** Before acquisitions and special effects

Summary

  • • 2011was a landmark year for MLP.
  • • Despite the continuingly difficult market environment, MLP developed successfully from an operating perspective and achieved a dynamic fourth quarter.
  • • Through its investment and efficiency programme, MLP has initiated important measures for the future.
  • •MLP benefits from the new breadth in its business model.
  • • In 2012the market conditions remain challenging.
  • • Goal 2012: Increasethe operating EBIT margin to 15 %.

Preliminary results 2011

Questions & Answers

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