Abitare In — Investor Presentation 2021

Mar 24, 2021

AbitareIn

STAR CONFERENCE MARCH, 24 2021

Our mission

To satisfy the HOUSING NEEDS of today families by adopting an INDUSTRIAL and SCALABLE business model.

By focusing on specific product, market and geographic area, we have developed a unique level of know-how that makes us the best in our field.

FOR THE NEW FAMILIES that (will) live in the city. The average age of our customers is 34

FIRST-TIME BUYER, homes for today's city dwellers

With our Affordable Price Range, we cover 60% of the market

MADE IN MILANO A tailor made product: best expression of milanese style

NEW BUILDS we demolish disused buildings to build new residential complexes

RESPONSIBILITY SENSE

Building to Regenerate, with utmost respect for social, environmental and energy performance factors

INNOVATING & DIGITAL

ABT invests 4% of its revenue in Research and Development. Our digital capabilities are comparable to those of a .COM

Residential sector: THE NEW ASSET CLASS

Residential sector is the most rising asset class worldwide, esteemed not only by families but also by big investment funds. Thanks to its inner resilience, to the spread of new technologies and to the new working models, it overcame the pandemic stronger than ever.

Home Construction (Sector ID # 40202010) Mkt Cap

47 BN £

Where total Market Cap has grown by 1900% in 12 years (and 2800% from the negative peak)

0,01 BN €

THE ONLY COMPANY: At Borsa Italiana we are the only residential developer

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Considering that the value of residential transactions in UK is just over double than in Italy, the growth potential is huge

MILANO: we are already the leader, but we can grow further

Thanks to a growing demand, a demographic growth, low interest rates, opportune taxation, affordable prices - even compared with salaries - and lack of quality product, Milano is one of the most interesting market worldwide

Post-covid scenario – focus on home 1/2

COVID emergency and ecologists have just accelerated the ongoing changes in people's housing needs, wich will involve price increase, thanks to an underbalanced ratio between supply and demand

Supply decrease

• Slowdown of public administration in the issuing of authorizations, due to Covid emergency
• International big founds are competing to buy or develop residential buildings for PRS

Qualitative and quantitative demand increase

• Bigger homes to satisfy the new needs as the work from home
• Newly built houses, healthier, sunnier and more ecologic
• More comfortable houses, with terraces, big windows, gardens and common spaces
• Customizable product, to satisfy the specific needs of every single family
• Growth of the «replacement demand» in addition to the «firts time buyers»
• Revival of investors (houses as safe-haven assets)
• Taxation and interest rates really convenient

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Scan the QR code with your smartphone or tablet to open the multimedia content or copy the link: https://abitareinspa.com/docs/video/ 2021-03-22_MixVirtualVideo_light.mp4

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Currently underway projects: our pipeline

The pipeline: numbers

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Ahead of the market and in absence of competitors, also thanks to the situation of distressed assets and NPLs, in just 5 years we have implemented the best and largest pipeline of projects in Milan, at a price way below the target for current values. Today, we are in the position to buy sites for development over a 5-year period, thus keeping the carrying amount of the sites low

Notes:

1) No. of apartments, considering an average surface area of 92 m2. The actual number of apartments built and for which contracts have been signed - without prejudice to the combined floor area (m2) - may vary depending on the custom size of the real estate units.

2) May differ from the no. of apartments depending on the actual size of the apartments sold. In the most recent transactions, AbitareIn has noted a significant and progressive increase in the average size of apartments sold.

3) Does not include 12,000 m2 - equal to 130 standard-size units - promised for sale to the Korian Group for the construction of senior living units.

4) Includes 12,800 m2 of net saleable area - equal to 140 standard apartment units - currently being assessed for development into co-living units

through the subsidiary Homizy S.p.A.

5) Of which 12,700 m2 of net saleable area of social housing.

6) Of which 139 social housing apartments.

7) Based on planned and completed units.

Five years of stunning growth

In 2016 AbitareIn, thanks to its predictions and its strategic vision, introduce in the Italian Stock Market (AIM Italia) the European model of residential development. With only €36 MN of equity, we became the leader of residential development in Milano. Since March 1°, 2021 AbitareIn is also listed on the MTA Market, STAR segment

	DELIVERED UNITS	ORDER BOOK (Preliminary deeds)		DEVELOPMENT PIPELINE				CASH	PEOPLE
	N°	N°	MN €	N° of projects	Commercial sqm	N° of apartments*	MN €	MN €	N°
IPO AIM 2016	0	81	21	3	26,400	320	851	0.34	12
STAR 2021	204	605	228	18	245,000	2,660	1,1302	35.53	64

1. Average selling price: 3.220 €/sqm

2. Supposed average selling price: 4.150 €/sqm + garages

3. As of 30 september 2020

* No. of apartments, considering an average surface area of 92 m2. The actual number of apartments built and for which contracts have been signed - without prejudice to the combined floor area (m2) - may vary depending on the level of customisation of the real estate units.

2017 – 2021: Revenues* +900%, EBT + 1,150%

Over time we have grown at a pace typical of the tech sector, the industry we come from, without ever losing track of the fundamentals and always maintaining our risk profile at a minimum.

	2017	2018	2019	2020	2021 E
TOTAL REVENUES (MN €)	9	49**	44.6	73.1	126
EBT (MN €)	2	4	9,4	12.4	25
CASH (MN €)	5	18	21.7	35.5
ORDER BOOK*** (MN €)	54	146	190	225.8	310
ORDER BOOK*** (UNITS)	114	248	485	586	800
CONTRACTUALIZED DOWN PAYMENT (MLN €)***	14	39	56	69	85
PIPELINE (UNITS)	690	1,180	2,050	2,530	2,660

IFRS financial statement– 2017 proforma

* Net of new areas purchase

** Revenue is influenced (increased) by the final conveyance agreements associated with new sites

*** Cumulative data as at 30 September of each year

We are a hi -tech company

Proprietary design model

Integration BIM + Salesforce + Accounting

A.I. and virtual assistant available h24

Online configurator similar to automotive industry

Virtual Reality

E-commerce platform

Digitalization of all docs and signatures

Online payments

Innovation and new technology: advantages

+500 apartments/year

Investments in R&D, digitalization, online platform gave clear benefits in terms of costs and amount. Benefits that give us an advantage of almost 5 years.

~ 100 apartments/year

We developed a scalable and profitable business model

Thanks to huge investments and to our attention to innovation, we are ready to boost our selection of products and to export our model out of Milano

	2017	2021
REVENUES PER FULL TIME EQUIVALENT EMPLOYEE	600k €	MORE THAN 1.4 MN € 2.3 MN if considering only employees and excluding freelances
EBT PER FULL TIME EQUIVALENT EMPLOYEE	145k €	MORE THAN 420K € More than 650k € if considering only employees and excluding freelances
APARTMENTS UNDER CONSTRUCTION FULL TIME EQUIVALENT EMPLOYEE	5.37	9.25
RETURN ON EQUITY	24.9%	69.7%

Our mission

Thanks to its know how, technology and its critical mass, AbitareIn announced in 2019

Transforming the "home" into A SHARING EXPERIENCE

bringing people together to make those who choose Milan to enhance their personal and professional growth "FEEL AT HOME"

PRS: residential rent according to AbitareIn vision

OUR TARGET

Our typical co-resident is a YOUNG PROFESSIONAL:

YOUNG PEOPLE, AGED 18 TO 35

who relocate from their hometowns FOR WORK

or who want to fly the nest to BECOME MORE INDEPENDENT

THE HOMIZY PRODUCT

HOMIZY is the RESIDENTIAL VERSION of the SHARING ECONOMY.

PROPERTY, SPACE AND SERVICES ARE SHARED to create new socializing opportunities

EXTENSIVE USE OF TECHNOLOGY

GREATER MANAGEMENT EFFICIENCY and optimisation of resources

MAKING THE MOST OF ABITAREIN'S ECONOMIES OF SCALE AND

KNOW-HOW we present a new-build product in Milan, quality and design with a price range of Euro 550-900 per room, all inclusive

AbitareIn "Smart", a unique home at the right price

A big market segment, with few competitors. A kind of product that maximize value for money

Average selling price € 3.000-3.800 per sqm

Presence in semi-suburban areas, with the highes growth potential : Zona Olimpica / Prada, Lambrate, NoLo, …

To give for the first time the opportunity to buy an "aspirational" house in the entry-level segment, completely customizable online

FOR US

SUSTAINABILITY IS AN ESSENTIAL

VALUE

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22,155 MWh/year Energy saving

2,335 apartments N. of energy class A apartments

35,460 sqm Filtering surface

7,754 tons/year Reduction of CO2 emissions

1,980 Planted trees

114 tons/year CO2 emissions balanced out

3,792 MWh/anno Energy from renewable sources

Based on current development pipeline

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Next steps

GREATER EFFORTS AND INVESTMENTS R&D IN THE PRODUCT AND ON ITS INDUSTRIALIZATION AND OPTIMISATION, TO FURTHER IMPROVE PROFITABILITY.

REDUCING CONSTRUCTION COSTS, currently significantly above the market average, especially considering the economies of scale achieved, is one of ABT's primary objectives for the coming years. Building and maintaining a loyal and healthy supply chain

GROWTH. Strengthening of our leadership position in residential development market, achievement of our target of gainig the 20% of market share THROUGH GREATER INVESTMENT IN NEW OPERATIONS in Milano

R&D investments in software and for the E-COMMERCE PLATFORM for online sales.

HOMIZY: acceleration of development plans. IPO and separation from AbitareIn

Evaluation of operations out of Milano, in order to take advantage of new opportunities considering new market needs

Export of our model abroad, to take more advantage in a higher-priced market, focusing on "made in Milano" and our innovative technological structure

Scan the QR code with your smartphone or tablet to open the multimedia content or copy the link: https://abitareinspa.com/docs/video/2020-12-21_AI-video-corporate-50mb.mp4

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