MLP SE

Earnings Release • May 12, 2016

Financial results Q1 2016

Reinhard Loose, CFO

May 12, 2016

Highlights Q1 2016

• Key financial figures Q1 2016
• Consultants and clients
• Outlook and summary
• Questions & Answers

Highlights Q1 2016

• Total revenue up 17.2 percent to € 152.4 million
• Operating EBIT at € 8.8 million (Q1 2015: € 7.0 million)
• New offer at DOMCURA is displaying pleasing development
• Efficiency measures are proceeding according to plan

• Positive early indicators for further revenue development

• Highlights Q1 2016

• Key financial figures Q1 2016
• Consultants and clients
• Outlook and summary
• Questions & Answers

Q1: Total revenue rises to € 152.4 million

Total revenue Q1

[in € million]

In non-life business MLP is benefiting from the acquisition of DOMCURA

Revenue

[in € million]

	Q1 2016	Q1 2015	Δ in %
Old-age provision	36.2	42.0	-14
Wealth management	38.9	40.7	-4
Health insurance	11.8	11.8	0
Non-life insurance	50.7	20.1	>100
Loans and mortgages*	3.6	3.2	13
Other commissions and fees	2.4	2.5	-4
Interest income	5.2	5.6	-6

Q1/2015:

• Revenue old-age provision in Q1/2015 positively influenced by a one-time effect

Q1/2016:

• Revenue contribution DOMCURA of around € 30.5 million

*excluding MLP Hyp

Assets under Management € 29.3 billion

Assets under Management Premium sum: old-age provision

Further broadened revenue mix

Revenue from commissions and fees Q1 2016: € 143.6 million (€ 120.3 million)

Q1: Operating EBIT at € 8.8 million

Income statement

[in Mio. Euro]	Q1 2016	Q1 2015	Q1/2016:
Total revenue	152.4	130.0	•	One-off expenses within the the efficiency measures: €
Operating EBIT*	8.8	7.0
EBIT	8.7	7.0
Finance cost	-0.1	-0.2
EBT	8.6	6.9
Taxes	-2,4	-1,6
Group net profit	6,2	5.2
EPS in € (diluted/undiluted)	0,06	0.05

*before one-off exceptional costs

Core capital ratio: 13.5 percent

Total 1,799.2

[in € million]

	31/03/2016	31/12/2015
Intangible assets	173.9	174,5
Financial investments	158.8	147.9	• Equity ratio: 21.6%
Cash and cash equivalents	133.4	77.5	• Core capital ratio: 13.5%
Other receivables and other assets	94.1	112.5
Shareholders' equity	387.9	385.8
Equity ratio	21.6%	22.0%
Other liabilities	163.0	140.2

1,752.7

• Highlights Q1 2016
• Key financial figures Q1 2016
• Consultants and clients
• Outlook and summary
• Questions & Answers

MLP serves 511,000 private and 18,300 corporate clients

Client base: family clients / corporate and institutional clients

• Combined individuals: Private clients Partner relationship or parents-child (families) unit and assigned to the same client consultant • System applies for MLP and the	Number of private clients (families) 510,200 31/12/2015 511,000
Corporate and institutional clients	relevant subsidiaries FERI and ZSH • Corporate clients in occupational pension provision • Institutional clients at FERI • Sales partners at DOMCURA • Freelancers such as physicians as employers	31/03/2016 Number of corporate and institutional clients
		18,200 18,300	31/12/2015 31/03/2016

MLP attracts 4,200 new private clients

Gross number of new clients (families)

Consultants

• Highlights Q1 2016
• Key financial figures Q1 2016
• Consultants and clients
• Outlook and summary
• Questions & Answers

Outlook confirmed

Qualitative assessment of the development of sales revenues

	2016	2017
Revenue from old-age provision	0	0
Revenue from health insurance	+	0
Revenue from wealth management	+	+
Revenue from non-life insurance	++	+

(in each case compared to the previous year) very positive: ++, positive: +, neutral: 0, negative: -, very negative: --

• Costs will once again be significantly reduced in the financial year 2017 and subsequent years (positive EBIT effect of around EUR 15 million compared to 2015).
• As announced, this will incur one-off expenses of approximately EUR 15 million in the financial year 2016.

As of 2017, MLP anticipates a significant increase in EBIT over 2015

• Sales revenue and earnings up in Q1
• Market environment remains difficult discussion on statutory pension and Riester contributing to further uncertainty among consumers
• Efficiency measures launched on schedule

• Forecast confirmed: As of the financial year 2017, MLP anticipates a significant increase in EBIT over 2015

• Highlights Q1 2016

• Key financial figures Q1 2016
• Consultants and clients
• Outlook and summary
• Questions & Answers

Contact

MLP Corporate Communications Alte Heerstr. 40 69168 Wiesloch Deutschland

Frank Heinemann, Head of External Communications

Andreas Herzog, Head of Investor Relations and Financial Communications

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

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