MLP SE — Investor Presentation 2011

Jun 30, 2011

MLP – Company Presentation

Dr. Uwe Schroeder-Wildberg, CEO Reinhard Loose, CFO

Roadshow Frankfurt

June 30, 2011

Agenda

•Outlook

• •Growth drivers
• •Earnings situation
• •Summary

Target 2012: Operating EBIT margin 15%

MLP Group

EBIT margin

* Before acquisitions and one-offs

Growth in wealth management and health insurance expected

Outlook

	2 0 1 1	2 0 1 2
O R l d- i i e v e n u e s a g e p r o v s o n :
R W l h M t t e e n e s e a a n a g e m e n v u :
R H l h i t e v e n u e s : e a n s u r a n c e

• • Further growth in wealth management and health insurance expected in 2011 and 2012
• • Outlook for old-age provision remains uncertain – from a current perspective, stable revenue in 2011 and a slight increase in the following year

Agenda

•Outlook

•Growth drivers

• •Earnings situation
• •Summary

Extensive investments initiated

Growth driver: Investment and efficiency programme

• y Targeted strengthening of the MLP brand through an extensive marketing campaign
• y At 16 large locations, all local branches will move into one larger building by the end of 2014
• yStrengthening of new acquisition channels at universities
• yFurther optimisation of workplace processes (e.g. reduction of IT complexity)
• yImproved support through consulting programmes (e.g. in product selection)
• yGreater standardisation and automation of administrative tasks
• yFurther optimisation of processes
• y Even more effective back office support for the consultants (e.g. bundling of consultant services, strengthening of sales-related units)

ÆMore intensive client consulting through optimised consultant support

Significant acceleration of the efficiency programme

Growth driver: Investment and efficiency programme

Forecast: Development of fixed costs

• • 2011: One-off exceptional costs of around € 30 million
• • Sustainable reduction in the annual fixed costs by a total of at least € 30 million by the end of 2012

MLP and Feri cover the whole market

Growth driver: Wealth management

Continuous increase of the Assets under Management

Growth driver: Wealth management

Assets under Management in the MLP group

MLP – a broad-based consulting house

Growth driver: Further strengthening of corporate client business

Q1: Very dynamic development in the healthcare area

Growth driver: Health insurance

Revenue health insurance

• Attractive market conditions through the shortening of the waiting period to change to private health insurance

• Increasing sceptical perception of the statutory healthcare system following

Pressure on social security systems is imminent

Growth driver: Old-age pension provision

Old-age provision market is expected to grow

Growth driver: Old-age pension provision

Money invested in old-age provision products in Germany

[in € trillion]

• •Includes single premium business
• • Includes occupational pension business

Source: Allianz, Handelsblatt (September 1, 2010)

Agenda

• •Outlook
• •Growth drivers
• •Earnings situation
• •Summary

Dividend increases to 30 cents per share

Dividend per share

[in cents]

Total dividend sum € 32.4m

Q1: Total revenue increased by 8%

Total revenue

[in € million]

Q1: Earnings situation further improved

Continuing operations

Income statement

[in € million]

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

• •EBIT more than doubled
• • Tax rate was influenced by dividend payment to the remaining Feri shareholders
• •Net profit increased to € 4.6m

Q1 2011: Operating EBIT of € 11.8m

EBIT adjusted for one-offs

Agenda

• •Outlook
• •Growth drivers
• •Earnings situation
• •Summary

Summary

• •Successful start to 2011 with a positive revenue development
• •Earnings situation improved significantly
• • Positive momentum in health insurance and wealth management will continue
• •Difficult market conditions in old-age provision will continue
• • Extensive investments initiated and efficiency programme accelerated
• • Guidance reiterated:
• yOne-offs in 2011 around € 30m
• yReduction of the fixed cost base by at least € 30m in FY 2012
• yOutlook 2012: Increase in operating EBIT margin to 15%

Contact

MLP Investor RelationsAlte Heerstr. 4069168 WieslochGermany

Jan Berg, Head of Corporate Communications

Tel.: +49 (0) 6222 308 4595 Fax: +49 (0) 6222 308 1131

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