MLP SE

Earnings Release • May 12, 2010

Andreas Dittmar, Head of Finance

May 12, 2010

• •Financial details Q1 2010
• •Clients and consultants
• •Outlook and summary

• •Questions and Answers

• •Q1 still influenced by the financial and economic crisis

• •EBIT increased by 26%
• •New clients + 21%
• •AuM reached new record high of € 17.7 bn
• • Positive development in new business for old-age provision and health insurance
• • MLP will further increase the quality of its sales force: Certified Financial Planner (CFP)

• •Dividend proposal: € 0,25 per share, dividend sum € 27.0 m

• •Financial details Q1 2010

• •Clients and consultants
• •Outlook and summary
• •Questions and Answers

Total revenue slightly below previous year's level

Total revenue Q1 2010

Revenue wealth management up 7%

Revenue – commissions and fees

	Q 1 2 0 0 9	Q 1 2 0 1 0	Δ i % n
O l d- i i a g e p r o s o n v	6 2. 9	5 8. 9	6. 4 -
H l h i t e a n s u r a n c e	1 3. 7	1 2. 9	6. 0 -
f N l i i o n- e n s r a n c e u	1 5. 2	1 6. 4	7. 7
W l h t t e a m a n a g e m e n	1 2 7.	1 8. 3	6. 8
L d t o a n s a n m o r g a g e s	2. 0	2. 1	8. 6
O h i i d f t e r c o m m s s o n s a n e e s	0. 7	0. 6	1 5. 3 -

AuM reached new record high

Assets under Management and new business old-age provision

^* In accordance with the BVI methodology

Positive earnings development

Continuing operations

Income statement

	Q 1 2 0 0 9	Q 1 2 0 1 0
T t l o a r e e n e v u	1 2 5 5	1 2 1. 2
E B I T	3 2	4 0
F i t n a n c e c o s	1. 5 -	0 5 -
E B T	1. 7	3 5
T a x e s	1. 6 -	1. 6 -
f N t i t e p r o	0 1	2 0
E P S i € n ( ) d i l t d e u	0 0 0	0 0 2

• •EBIT rose by 26%
• • Tax rate was influenced by dividend payment to the outstanding Feri shareholders
• •Net profit increased by € 1.9 m

Development of fixed costs in Q1 2010 [in € million] -1.3-0.474.576.2 +0.0

Strong balance sheet

MLP Group – selected balance sheet items

	/ / 3 1 1 2 2 0 0 9	3 1 / 0 3 / 2 0 1 0
I i b l t t n a n g e a s s e s	5 1 6. 1	5 1 4. 3
i i i F l t t n a n c a n v e s m e n s	1 9 2. 4	2 3 9. 8
C h d h i l t a s a n c a s e q a e n s u v	5 5. 0	4 6. 2
i O h b l d h t t t e r r e c e v a e s a n o e r a s s e s	1 3 2. 1	9 9. 0

S i h h l d ' t a r e o e r s e q u y	4 1 8. 5	4 2 1. 9
O h l i b i l i i t t e r a e s	2 1 1. 8	1 6 8. 0 2 9 %

• •Equity ratio 29.1%
• •Liquid funds € 205 m

• • Seasonal decline in other receivables and other liabilities

• •Financial details Q1 2010

• •Clients and consultants
• •Outlook and summary
• •Questions and Answers

Number of new clients increased significantly

• •Financial details Q1 2010
• •Clients and consultants
• •Outlook and summary
• •Questions and Answers

Significantly improved market environment from 2011

Medium-term outlook

	2 0 1 0	/ 2 0 1 1 2 0 1 2
O R l d- A P i i e v e n u e g e r o v s o n –
R W l h M t t e v e n u e e a a n a g e m e n –
R H l t h I e e n e e a n s r a n c e v u u –

• •Reduction of fixed costs amounting to € 10 m in 2010
• • Business prospects (particularly in the first half-year 2010) will continue to be affected by the difficult market environment
• • Old-age provision and health insurance: stable revenues in 2010, return to growth from 2011
• •Moderate increase in revenue expected in wealth management

Outlook 2012: Increase in EBIT margin to 15%

MLP Group

EBIT margin*

* before acquisitions and one-offs

• •Q1 was still influenced by the financial and economic crisis
• •Despite difficult market environment EBIT rose by 26%
• •AuM reached record high of € 17.7 bn
• • MLP expects the business development to improve further in the upcoming quarters
• •Reduction of the fixed cost base by € 10 m in FY 2010

• •Outlook 2012: Increase in EBIT margin to 15%

• •Financial details Q1 2010

• •Clients and consultants
• •Outlook and summary
• •Questions and Answers

Contact

MLP Investor RelationsAlte Heerstr. 4069168 WieslochGermany

• Helmut Achatz, Head of Investor Relations
• Ines Kittlitz, Manager Investor Relations

Tel.: +49 (0) 6222 308 8320 Fax: +49 (0) 6222 308 1131

investorrelations@mlp.de www.mlp-ag.de