Abitare In

Investor Presentation • Jun 19, 2023

ABITAREIN

Milano, June 19 2023

PROJECTSUNDERDEVELOPMENTINMILAN:OURPIPELIN E

THE PIPELINE IN FIGURES

Ahead of the market and in absence absence of competitors competitors competitors, accelerated by distressed assets and NPLs, in just 7 years we have implemented the best and largest pipeline largest pipelinepipeline of projects 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 and being able to decide in an opportunistic way which and how many projects start

Notes:

1) No. of apartments, considering an average surface area of 92 m2 for standard units and 82 m2 for social housing. 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) Includes 12,800 m2 of net saleable area - equal to 140 standard apartment units - currently being assessed for development into coliving units

through the subsidiary Homizy S.p.A.

4) Of which 7,800 m2 of net saleable area of social housing.

5) Of which 96 social housing apartments.

6)Buildingworkscanbestartedin12months

7) Value update to the current average selling price

243 mln € 6961 DELIVERED APARTMENTS DELIVERY (OUT OF PIPELINE)

GROUP STRUCTURE AND DEBT

A project, a vehicle, a bank. Compartmentalization of money flows. First we sell, then we build. Construction does not begin until the project break-even is reached, so the "work progress loan", although deliberated, is not drawn down, thus sterilizing any debt-related risk. This allows us to reduce our financial debt, in less than 12 months, by almost € 120 Mn.

CONSOLIDATED REVENUES

CONSOLIDATED REVENUES

2 0 2 3 1 H	2 0 2 2 1 H
€ 7 6 7 M L N	€ 6 6 4 M L N

• € 129.3 MLN: REVENUE FROM SALES, deriving from the notarial deeds for the real estate units of Milano City Village and Palazzo Naviglio and from the conclusion of the via Cadolini operation
• € - 69.6 MLN of negative CHANGE IN INVENTORY FOR PROGRESS OF WORKS, due to discharge due to the handover of the apartments to customers and of the via Cadolini area. Production progress amounts to € 38.1 mln
• € 2.5 MLN of CHANGE IN INVENTORY FOR NEW AREAS PURCHASE
• € 14.3 mln of OTHER REVENUES wich mainly include deferred costs related to investments in real estate buldings for rent in the coliving formula by the subsidiary Homizy SIIQ S.p.A.

CONSOLIDATED EBT AND NET PROFIT

6

CONSOLIDATED EBT

1 H 2 0 2 3	1 H 2 0 2 2
2 3 2 € M L N	4 5 € M L N

CONSOLIDATED NET PROFIT

1	1
H	H
2	2
0	0
2	2
3	2
2 2 3 € M L N	2 8 € M L N

INCREASED SHARPLY FROM THE PREVIOUS YEAR DUE TO THE INCREASED CONCLUSION OF THE VIA CADOLINI OPERATION AND THE ACCELERATION OF WORK ON THE CONSTRUCION SITES BEING DELIVERED

It should be noted that if the via Cadolini transaction had been concluded in the form of an asset deal, as originally planned, the CONSOLIDATED EBT would be € 31.6 mln (EQUIVALENTEQUIVALENT EBT).

The EBT figure is negatively affected, by € 0.8 mln, by the writedown of the equity investment in Tecma Solutions S.p.A. resulting from the fair value measurement as of the closing date of the sixmonths reporting period

GROUP NET FINANCIAL DEBT

GROUP FINANCIAL DEBT

1	F
H	Y
2	2
0	0
2	2
3	2
€ 7 5. 0 M L N	€ 1 1 6. 2 M L N

Of which Of € 37.4 mln related related to Palazzo Palazzo Naviglio Naviglio Naviglio, Milano City Village City Village and Trilogy Trilogy Trilogy Towers operations, to be closed till the endthe of FY 2023

	i i l b F D t n a n c a e
	3 1. 0 3. 2 0 2 3	3 1. 0 3. 2 0 2 3	3 0. 0 9. 2 0 2 2	h C a n g e
	i i Eu t t a m o u n s n r o u n s
A.	h d h iv le C t a s a n c a s e q u a n s	4 8, 7 7 3, 5 0 4	3 2, 3 6 5, 4 8 7	1 6, 4 0 8, 0 1 7
B.	le h d h le M iv iv t t t e a ns e q a n o c a s a n c a s e q a n s u u	-	-	-
C.	he f l a O in ia t t t r c u rre n a nc s s e s	-	-	-
D.	d ( ) ( ) ( ) i i i C L A B t + + q u y	8, 3, 0 4 7 7 5 4	3 2, 3 6 8 5, 4 7	6, 0 8, 0 1 4 1 7
E	f l p b le Cu in ia t rre n a nc ay a s	-	-	-
F.	f n d b Cu io t t t t rre n p o r n o o n- cu rre n e	1 7, 9 1 2, 4 7 5	1 7, 9 1 5, 5 7 3	( ) 3, 0 9 8
G	f l d b ( ) ( ) C i i E F t t + u r r e n n a n c a e	9 2, 1 7, 1 4 7 5	9 3 1 7, 1 5, 5 7	( ) 3, 0 9 8
H.	f l b ( ) - ( ) i i d G N D t t t e c u r r e n n a n c a e	( ) 3 0, 8 6 0 2 9 1,	( ) 9, 9 1 4, 4 4 1 4	( ) 6, 1 4 1 1, 1 1 5
I.	f l p b le No in ia t n- cu rre n a nc ay a s	1 0 5, 8 3 9, 3 0 4	1 3 0, 6 3 6, 7 6 6	( ) 2 4, 7 9 7, 4 6 2
J.	b De in t t t s ru m e n s	-	-	-
K.	b le he b le d d Tr t t a e p ay a s a n o r n o n- cu rre n p ay a s	-	-	-
L.	f ( ) ( ) ( ) i i l d b N I J K t t + + o n- c u r r e n n a n c a e	1 0 5, 8 3 9, 3 0 4	1 3 0, 6 3 6, 7 6 6	( ) 2 4, 7 9 7, 4 6 2
M	( ) ( ) l f i i l d b T H L t t + o a n a n c a e	7 4, 9 7 8, 2 7 5	1 1 6, 1 8 6, 8 5 2	( ) 4 1, 2 0 8, 5 7 7

The decrease is mainly due to the proceeds deriving from the deeds of the apartments of Milano City Village and Palazzo Naviglio for € 37.8 million, from the conclusion of the via Cadolini operation for € 46 million – net of the € 11 mln deposit already collected in the previous year - and from the deposits collected related to the preliminary deeds of projects under commercialisation, for € 10 million, against the progress of works, with total investments of € 38.7 mln and the purchase of new areas for € 13.9 mln (net of advance payments made in previous years).

Land acquisition 2008 Start of work 2014 End of work 2017 OVERVIEW OVERVIEW ABITARE IN POSTE ABITARE IN MAGGIOLINA Key highlights 7,500 Total commercial area Apartments 80 1,500 Sqm of green area Area Ortica 3,600 €/sqm Average selling price IRR 26% Status Authorisation Authorised Construction Completed Commercialization Sold Out Land acquisition 2016 Start of work 2018 End of work 2020 Key highlights 14,500 Total commercial area Apartments 158 6,500 Sqm of green area Area Maggiolina 4,000 Average selling price IRR 46% Status Authorisation Authorised Construction Completed Commercialization Sold Out

• OVERVIEW - OVERVIEW OLIMPIA GARDEN MILANO CITY VILLAGE Land acquisition 2020 Start of work 2020 End of work 2021 Key highlights 12,750 sqm Total commercial area Apartments 161 3,000 sqm Sqm of green area Area Corvetto 3,800 €/sqm Average selling price IRR 100.12% Status Authorisation Authorised Construction Completed Commercialization Sold Out Land acquisition 2018 Start of work 2020 End of work 2022 Key highlights 20,500 sqm Total commercial area Apartments 223 1,900 Sqm of green area Porta Romana Area 4,000 €/sqm Average selling price IRR 25% Status Authorisation Authorised Construction Completed Commercialization Sold Out Notarial deeds 60%

*started work on adaptation of existing basements

P R O J E C T S U N D E R D E V E L O P M E N T

P R O J E C T	S T D U N I T S	P U R C H A S I N G S T A T U S	ho isa io t t au r n	Co io tr t ns uc n
Ta i 8 to c	8 3	l de d F in a e	de de Un ig r s n	l he d De is m o
V ig in t en o	4 8 9	d lm Re is in te g re p re ar y	de de Un ig r s n	f l d Gr ie ee n
Ac io cu rs	1 3 8	l de d F in a e	l ho ( ) Pr im in Au isa io 4 0 t t t. e ar r n ar y	f l d Br ie ow n
isc l ie B eg	1 4 9	is d l im in Re te g re p re ar y	de de ig Un r s n	f ie l d Br ow n
Gr ec o	2 1 5	d l Re is im in te g re p re ar y	de de Un ig r s n	f l d ie Br ow n
Co t to rv e	1 7 7	l de d F in a e	de de Un ig r s n	f l d Br ie ow n
l lo Gr i i n	3 9 5	d l Re is im in te g re p re ar y	de de Un ig r s n	f l d Br ie ow n
l f Ho izy B is i to m	6 1	l de d F in a e	ho d Au ise t r	l En iro ta v nm en d ia io t re m e n
Ho izy m d de Tu i i c	1 2 2	l de d in F a e	ho d Au ise t r	S ip tr t ou