MLP SE — Investor Presentation 2012

Oct 19, 2012

MLP –Company Presentation

Dr. Uwe Schroeder-Wildberg, CEO Roadshow USA

October 18-19, 2012

Agenda

•MLP at a glance

• •Transformation of business model
• •Earnings situation / Financial details H1 2012
• •Outlook & Summary

Corporate data at a glance

The MLP Group

• y Independent financial services and wealth management consulting company
• yFounded in 1971
• y€ 545.5 million total revenue in 2011
• yMore than 800,000 private clients
• yMore than 5,000 corporate clients
• y€ 20.2 billion assets under management
• y 1,528 employees and 2,104 financial consultants

MLP –a broad-based consulting house

• •MLP at a glance
• •Transformation of business model
• •Earnings situation / Financial details H1 2012
• •Outlook & Summary

Independent business model and one-stop provision of lifetime financial solutions

Independent business model is unique in the German Market

Low average age of clients offers potential…

MLP clients by age group

…especially in wealth management

Potential revenue per year and client

Significant steps towards strengthening wealth management business

MLP and Feri cover the whole market

Wealth management

MLP clients benefit from Feri'sexpertise

Feri

Private and corporate clients as well as institutional investors

• •Asset management
• •Risk overlay
• •Wealth consulting and advisory services
• •Asset structuring / Controlling
• •Asset protection
• •Family Office services
• •Manager selection

MLP - Wealth Management

Product independent market assessments

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

Rating Feri direct mandates

Significant revenue growth in wealth management

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

FY 2011 (Revenue from commissions and fees: €498.5 million)

Early recognition of potential in occupational pensions

Studies confirm high level of interest – 2004 and now

2004: Low coverage of occupational pensions

N b f u m e r o l e m p o e e s p e r y c o m p a n y	S d f p r e a o t i l o c c p a o n a u i i h i t p e n s o n s w n k f w o r o r c e
1- 4	2 1 %
5 9 -	% 2 5
1 0 1 9 - 4 2, 4 %	4, 1 % 5 3 1 %
2 0 4 9 -	3 % 5
5 0 9 9 -	3 9 %
1 0 0 1 9 9 -	4 3 %
2 0 0 4 9 9 -	% 5 6
5 0 0 9 9 9 -	6 8 %
1 0 0 0 d a n m o r e ,	8 % 5
T t l o a	4 6 %

Source: TNS Infratest Social Research – Supplementary provision in the private sector and in the public service sector 2001 – 2004

2012: Occupational pensions remain interesting

* In companies with more than 1,000 employees

Source: Zurich Occupational Pensions-Report 2011/2012

Consistent expansion of the occupational pensions division

2006

Foundation of the competence centre tax advisors /auditors

2008

2004Foundation of occupational pensions division

Further strengthening of the occupational pensions business – acquisition of TPC

2004

Expansion of the division through personnel strengthening and the acquisition of BERAG

2012

More than 1,200 licensed consultants operating throughout Germany

2010

Introduction of an exclusive industry concept

Significant increase in the proportion of occupational pension business

Occupation pension business as a percentage of the premium sum in the old-age provision area at MLP

• •MLP at a glance
• •Transformation of business model
• •Earnings situation / Financial details H1 2012
• •Outlook & Summary

H1: Total revenue of €233.7 million

Total revenue in H1

[in € million]

Difficult environment in old-age provision and health insurance

Revenue: commissions and fees

[in € million]

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

*excluding MLP Hyp

Difficult environment in old-age provision

Average of target/actual expenses for old-age provision per months

Source: Postbanksurvey old-age provision in Germany 2012/2013

MLP benefits from its holistic approach

Revenue from commissions and fees: H1 2012: €208.3 million (€ 217.6 million)

Efficiency program still on track

Development of fixed costs*

Earnings situation further improved

Income statement

[in € million]

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

• y No one-offs in H1 2012 (H1 2011: € 10.5 million)
• y Efficiency program continues to bear fruit
• y Q2: Higher tax rate due to a special effect

• y Tax rate is expected to decrease to less than 30 % in the full year

• •MLP at a glance

• •Transformation of business model
• •Earnings situation / Financial details H1 2012
• •Outlook & Summary

2012: Reduction in fixed costs to around €249 million

Outlook

Development of fixed costs*

[in € million]

* Personnel, D&A, other operating expenses

** After adjustment for one-offs

Goal 2012: Operating EBIT margin of 15 %

MLP Group

EBIT margin

* After adjustment for one-offs ** Before acquisitions and special effects

Summary

• • MLP benefits from its holistic approach
• y Targeted strengthening of the wealth management and occupational pensions business areas
• yGreater diversification in consulting leads to more recurring revenues
• •Efficiency program fully on track
• •Continuingly challenging market environment
• •Upswing expected in old-age provision and health insurance especially in Q4
• •Positive development in wealth management is expected to continue
• • Guidance reiterated:
• yReduction of the fixed cost base to € 249 million in FY 2012
• yIncrease in operating EBIT margin to 15 %

Contact

MLP Investor RelationsAlte Heerstr. 40 69168 WieslochGermany

• Jan Berg, Head of Corporate Communications Tel.: +49 (0) 6222 308 4595
• Andreas Herzog,

Senior Manager Investor Relations and Financial Communications

Tel.:+49 (0) 6222 308 2272

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