MLP SE — Earnings Release 2012

Feb 28, 2013

Financial Results 2012

Frankfurt, 28th February 2013

Agenda

• • Highlights 2012 Dr. Uwe Schroeder-Wildberg, CEO
• • Business Development 2012 Reinhard Loose, CFO
• • Strategy, Outlook and Summary Dr. Uwe Schroeder-Wildberg, CEO
• •Questions & Answers

Financial Results 2012

Dr. Uwe Schroeder-Wildberg, CEO Highlights 2012

Overview 2012

• • Operating EBIT margin increases by around 40% to 13.0% in 2012 despite difficult market conditions – EBIT margin in the financial services segment: 15.0%
• • Q4: Total revenue rises by 13% – high growth in wealth management (+55%) and in old-age provision (+9%)
• • 2012: Total revenue climbs by 4%, EBIT totals € 74.1 million – the highest figure since 2007
• • Executive Board proposes a dividend of 32 cents per share and highlights the continuity and attractiveness of the dividend policy

Overview 2012

Continuingly difficult market environment

New business: Old-age provision in the market

Not planning to increase level of private old-age provision

Source: German Insurance Association (GDV), own calculations

42%Base: working people in Germany aged 16 and over

Source: Postbank Study "Altersvorsorge in Deutschland 2012/2013"

Foundations for stable future development

Broadening of the business model

• yExpansion of wealth management
• yDevelopment of occupational pensions business
• yImprovement of revenue quality through recurring revenues

Comprehensive efficiency management

• y Reduction of administration costs by a total of € 60 million
• without limitation of strategic further development

Improved Profitability

yEBIT margin increased to 13% despite difficult markets

Significantly improved revenue quality

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

FY 2012 (Revenue from commissions and fees: € 518.0 million)

Significant increase in the proportion of recurring revenue from around a third in 2005 to more than a half in 2012 – management focus on further improvement

Page 8

Administration costs reduced by € 60 million since 2008

Administration costs*

Financial Results 2012

Reinhard Loose, CFO Business Development 2012

Q4: Total revenue above strong previous year's quarter

Total revenue

2012: Total revenue rises by 4 percent

Total revenue

Significant increase in wealth management

Revenue

[€ million]

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

* excluding MLP Hyp

Assets under Management climb to € 21.2 billion

New business

32,600 new clients – high momentum in Q4

New clients Consultants

Administration costs reduced by € 27.4 million since 2010

Development of operating administration costs*

Significant rise in EBIT

* Adjusted for one-off exceptional costs

EBIT margin increases to 13%

MLP Group

[ € i l l i ] m o n	Q 4 2 0 1 1 *	Q 4 2 0 1 2	2 0 1 1 *	2 0 1 2
T l t o a r e e n e v u	1 8 9. 0	2 1 2 8	4 5 5 5	5 6 8 0
O i E B I T t p e r a n g	3 2 0	4 7 4	5 0 7	7 4 1
E B I T	1 2 7	4 4 7	1 3 7	4 1 7
F i i l l t n a n c a r e s u	0 4	0 3	0 0	0 5
E B T	1 3 1	4 7 7	1 7 3	7 4 6
T a e s x	3 3 -	1 3 6 -	6 0 -	2 1. 9 -
f N i t t ( i i t e p r o c o n n n g u ) i t o p e r a o n s	9. 8	3 4 1	1 1. 2	2 5 7
N f i t t ( d i i d t e p r o s c o n n e u ) i t o p e r a o n s	0 3 -	-	0 3	-
G f i t t r o p n e p r o u	9. 5	3 4 1	1 1. 5	2 5 7
S E P i € n	0 0 9	0 3 2	0 1 1	0 4 9

• EBIT margin Group: 13.0%
• EBIT margin financial services segment: 15.0%
• EBIT margin segment Feri: 9.5%

* Previous year's figure adjusted

Strong balance sheet

MLP Group

[ € i l l i ] m o n	/ / 3 1 1 2 2 0 1 1 *	3 1 / 1 2 / 2 0 1 2
I i b l t t n a n g e a s s e s	1 4 0. 3	1 4 1. 7
F i i l i t t n a n c a n v e s m e n s	2 3 2. 0	1 3 7. 1
C h d h i l t a s a n c a s e q a e n s u v	3 1. 4	4 0. 7
O h i b l d t t e r r e c e v a e s a n a s s e s	1 4 3. 6	1 3 9. 7
S ' i h h l d t a r e o e r s e q u y	3 9 9. 6	3 8 6 7.
E i i t t q r a o u y	2 6. 8 %	2 6. 0 %
O h l i b i l i i t t e r a e s	1 4 7. 6	1 3 0. 7
T l t o a	1, 4 8 9. 8	1, 4 9 3. 1

• y Equity ratio: 26.0%
• y Core capital ratio: 17.2%

*Previous year's figure adjusted

MLP maintains reliable dividend policy

Dividend per share

y 2011: Payment of 30 cents from the operating business and a further 30 cents from surplus liquidity not required for the operating business

Financial Results 2012

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

Clearly distinguished competitive position

EFMD Seal of Approval

• • as one of 17 accredited European Corporate Universities
• • Seal of quality for innovations and "Best Practice" in training facilities

CFP-accreditation

• • Corporate University accredited for providing the highest internationally recognised training for financial advisors
• • Third German University alongside: Frankfurt School of Finance & Management and European Business School in Oestrich-Winkel

FIBAA certification

• • First establishment to be awarded the "Certified Corporate University" seal of quality
• • Enables combination of further education in cooperation with state universities
• • Further enhances the appeal of a position as an MLP consultant

MLP is well equipped for the increasing market regulations

Requirements in the market – regulations for consulting

Increase in productivity through specific support for MLP consultants

Servicecenter MLPdialog

C M L P l t t o n s a n s u	M L P d i l a o g
I d i i d l l i d i t • n v u a c o n s u n g a n s e r v c e H i h i t t t g a r g e g r o p e p e r s e • u x f H l i i i i l t t o s c n a n c a c o n c e p s •	S i h 1 t t t t p p o r r e s p e c o u w A i i i h l i t t t t r r a n g n g a p p o n m e n s w c e n s x U d i f l i d t t t p a n g o c e n a a x x … S 2 d d i d i i b i t t a n a r s e e x s n g u s n e s s C i a r n s r a n c e u x T i f f h a r c a n g e s x x …

ÆConsultants' stronger focus on core tasks increases productivity

Extensive potential in wealth management – at MLP and Feri

Outlook 2013

Private and corporate clients as well as institutional investors

• •Wealth management/Investment management
• •Risk overlay
• •Financial advice
• •Wealth structuring/controlling
• •Asset protection
• •Asset liability management

Rating

Feri MLP Wealth Management

Product-independent market assessments

• •Know-how transfer
• •Quality check
• •Fund selection
• •"Best of" selection
• •Sustainability list
• •Closed-end funds

Feri direct mandate

Potential in occupational and private provision

Outlook 2013

Occupational provision by international comparison (multiple responses possible)

Private Provision: Further subsidies planned with the Old-Age Provision Improvement Act

• • "Rürup" pension: Raising of the maximum subsidy limits from € 20,000 (married couples: 40,000) to € 24,000 (€ 48,000)
• • State subsidy for specific insurance against disability

Sources: Fidelity Worldwide Investment, May 2012

Nursing care as a future growth sector – positive response to "Pflege-Bahr"

Outlook 2013

Private provision for long-term nursing care is –

Introduction of a subsidised supplementary insurance is –

MLP Health Report 2012/13 – representative survey of 2,100 citizens

MLP expects EBIT to range between € 65 and € 78 million

Outlook 2013 to 2015 – in each case compared to the previous year

	2 0 1 3	2 0 1 4	2 0 1 5
R l d- i i e v e n u e o a g e p r o v s o n -	0	0	+
R h l h i t e v e n u e e a n s u r a n c e -	0	+	+
R l h t t e e n e e a m a n a g e m e n v u w -	+	+	+

very positive: ++, positive: +, neutral: 0, negative: -, very negative: --

• •Continuation of the strict cost management
• • If necessary, temporarily higher expenditure – either for important future investments or for one-off initial costs in order to ease future expenditure requirements
• • Outlook: EBIT of between € 65 and € 78 million in the financial years 2013 to 2015 – depending on the respective market development

Summary

• • MLP had ^avery successful financial year 2012 and further improved all key figures
• • 2012 demonstrated the importance of the early implementation of the efficiency programme and the broadening of the business model
• • MLP is benefitting from the strengthening of the wealth management and occupational pension businesses and will further increase the proportion of recurrent revenues
• • For the financial years 2013 to 2015 MLP expects high stability and forecasts that EBIT will be in the € 65 to € 78 million range

Financial Results 2012

Questions & Answers