Mobimo Holding AG — Investor Presentation 2011

Mar 8, 2011

Analysts' Conference Results 2010

08 March 2011

Agenda

• Welcome / introduction Urs Ledermann, Chairman BoD

• Explanation of selected key financial figures Manuel Itten, CFO
• Performance in 2010 / outlook Christoph Caviezel, CEO

Successful performance in 2010

	31.12.2010	31.12.2009	Change
Net profit in CHF	66.0 m.	62.6 m.	+5%
Earnings per share in CHF	13.01	14.09	-8%
Value of property portfolio in CHF	2,012 m.	1,878 m.	+7%
Distribution1)	9	9	-

1) Distribution of paid-in capital for the 2010 financial year of CHF 9.00 per share, free of withholding tax, as per the proposal to the General Meeting on 6 April 2011.

Consistently high distribution 2004 – 2010

Current nominal value of the shares CHF 29.00

Market environment and Mobimo's positioning

• Advantage in the marketplace through development
• Value-for-money rental properties and condominiums
• Good locations are the basis for everything
• Active portfolio management and ongoing improvement in portfolio quality

Mobimo in 2010 as seen by the Board of Directors

• Geographic diversification (integration of LO) successfully realised
• Mobimo is in sound health and is well rated by its financial partners
• Platform for significant future growth consolidated
• Corporate governance
• Adjustments to remuneration system put in place
• Vote on the remuneration report at the General Meeting on 6 April 2011

Premium / Discount Development

7

Share price development 20101)

Share price development – 3 years1)

Share price development – 5 years1)

Agenda

• Welcome / introduction Urs Ledermann, Chairman BoD

• Explanation of selected key financial figures Manuel Itten, CFO
• Performance in 2010 / outlook Christoph Caviezel, CEO

Key financial figures I

in CHF m.	2010	2009	Restated 2008
Net income, trading properties	8.4	25.2	22.4
Net income, rentals	79.2	63.1	57.9
Net income, revaluations	29.11)	9.3	9.0
Sales income, investment properties	5.4	1.7	2.0
Personnel expenses	-17.7	-14.0	-11.7
Tax expense	-11.9	-16.0	-12.5

1) CHF 23.4 million of the net income from revaluation derives from operating performance, thereof CHF 16 million relating to investment properties under construction and a further CHF 7.4 million mainly coming from successful letting. An additional CHF 5.7 million is attributable to market-driven changes to discount rates.

Key financial figures II

	2010	2009	Restated 2008
Profit	66.0 m.	62.6 m.	45.0 m.
Profit excluding revaluation	44.2 m.	55.6 m.1)	38.3 m.
Return on equity (inc. reval.)	7.1 %	8.0 %	5.9 %
Return on equity (excl. reval.)	4.8 %	7.1 %	5.0 %
Earnings per share (inc. reval.)	13.01	14.09	10.37
NAV per share diluted	190.45	180.29	177.77

1) inc. extraordinary effects from the acquisition of LO Holding Lausanne-Ouchy SA

Profit growth

14

* inc. extraordinary effects from the acquisition of LO Holding Lausanne-Ouchy SA

Change in Mobimo NAV 2004 -2010

Solid financial base

	Goal	2010	2009	Restated 2008
Equity ratio	> 40%	45%	48%	52%
Interest coverage factor	> 2.0	3.0	4.5	3.4
Net gearing	< 150%	92%	89%	76%
Average interest rate		2.9%	3.1%	3.5%
Average residual maturity		5.1 years	5.1 years	5.9 years

Maturity profile of financial liabilities

Ø residual maturity: 5.1 years

Ø interest rate: 2.9%

Total: CHF 984 m.

* As well as mortgage liabilities, long-term financial liabilities also include the convertible bond which matures on 30 June 2014

Maturity profile of rental contracts1)

Ø remaining term: 5.2 years

Key figures for property portfolio

	2010	2009
Gross yield on investment properties	6.1%	6.6 %
Net yield on investment properties	5.1%	5.4 %
Investment property vacancy rate	5.1%	6.7 %

• Disposal of properties with higher risk premiums = reduction in gross yield
• Successful letting operations
• = significant reduction in vacancy rate

Change in yield spread (investment properties)

Selected themes

• First year with LO
• Successful integration, first financial year with LO
• Issue of CHF 175 m. convertible bond
• Coupon 2.125%, maturity 30 June 2014, conversion price CHF 210.37
• IFRS
• New revenue accounting for trading properties in accordance with IFRIC 15
• Revaluation income CHF16.0 m. from revaluation of investment properties under construction (IAS 40 revised)
• Capital contribution principle (Swiss corporate tax reform II)
• Distribution of premium reserves free of withholding tax, tax free for private shareholders
• Benchmarking / FTSE EPRA criteria
• The relevant real estate activities amount up to CHF 95 m. (2009: CHF 83 m.) representing 93% (2009: 83%) of total EBITDA. Therefore the eligibility criteria of the FTSE EPRA-Index have been met

Agenda

• Welcome / introduction Urs Ledermann, Chairman BoD

• Explanation of selected key financial figures Manuel Itten, CFO
• Performance in 2010 / outlook Christoph Caviezel, CEO

Mobimo's portfolio as at 31 December 2010

Mobimo's portfolio as at 31 December 2010

Mobimo's portfolio as at 31 December 2010

Investment properties by economic area

Target rental income by type of use

1) Other use mainly includes: hotels, catering establishments, car parks and ancillary uses.

Property portfolio

Completed investment and development projects in 2010

Locations	No. of units	Status as at 31.12.10
Horgen, Seestrasse 43-69, "Holzbach"	80 (lets)	80 units let
Horgen, Stockerstrasse 40-42, "Visidea"	47 (condos)	37 units sold
Horgen, Stockerstrasse 54, "Sto54"	4 (condos)	3 units sold

Horgen "Holzbach", Seestrasse 43-69

Horgen "Visidea", Stockerstrasse 40-42

Horgen "Sto54", Stockerstrasse 54

Development – a core competence at Mobimo

• Construction of investment properties for own portfolio
• Construction and sale of condominiums
• Achieving added value on existing properties held

Development as an added value

Development as an added value (FY 2010)

Portfolio amelioration

Properties in construction

Development - Commercialization Investment properties

Development: Tasks defined in strategy

Development and construction of investment properties for own portfolio

Development, construction and sale of owner-occupied residential property

Continued development and exploitation of proprietary real estate holdings

Transformations, conversions, renovations, maintenance

Numerical data in CHF m.

Principles of development

Investment properties

• Sustained, relatively high gross yield (> 5%)
• Dependent on location/location/ location

Condominiums

• Gross profit greater than 12%
• On average 14% to 16%
• Construction only starts when over 30% sold

Finances Operational

• High level of customer satisfaction
• Sustainable products
• Economic quality
• Ecological quality
• Socio-cultural and functional quality
• Location quality
• Technical quality
• Loyal partner
• Competency and solid service provision
• Added value

Project pipeline – investment properties under construction (approx. CHF 260 m.)

	2010	2011	2012	2013	2014
Horgen, Seestrasse 43-45	80 apartments
Lausanne, Beau-Séjour	102 apartments
Lausanne, Genève 7	Residential, office, commercial
Zurich, Manessestrasse	52 apartments
Zurich, Turbinenstrasse Hotel (Mobimo Tower)	Hotel

Lausanne, Beau-Séjour

• Investment cost CHF 56 m.

• Residential 102 apartments (to rent)

• Architect Richter Dahl Rocha, Lausanne
• Letting status 99 units let as at 28.2.11

• Target segment Upper middle class, young families, singles

• Location Central, urban, close to main railway station and in town centre

Zurich, Turbinenstrasse

• Hotel Renaissance 300 rooms with suites
• Investment cost CHF 125 m.

2010 2011 2012 2013 2014

• Letting status 100% let

• and presidential suite
• Architect Diener & Diener Architekten, Basel
• Target segment Business clients and tourists
• Location Urban, good road links and close to public transport

Project pipeline – condo properties under construction (approx. CHF 240 m.)

Adliswil, Wilacker

• Investment cost CHF 74 m.

• Residential 75 apartments (condominiums)

• Architect Atelier WW AG
• Sale status 32 units sold as at 28.2.11

• Target segment Upper middle class and families

• Location in recreation area above centre of Adliswil, close to Zurich, public transport links

Winterthur, Museumstrasse

• Investment cost CHF 18 m.

• Conversion 18 apartments (condominiums)

• Architect Hemmi Fayet AG
• Sale status 14 units sold as at 28.02.11

• Target segment Upper middle class, DINKS 1), singles and seniors

• Location Very central, popular location in Winterthur, links to town centre

Zurich, Mobimo Tower

• Investment cost CHF 130 m.

• Residential 53 apartments (condominiums)

• Architect Diener & Diener Architekten, Basel

• Sale status 35 units sold as at 28.02.11

• Target segment Luxury,

• Location Urban
• DINKS 1), singles and seniors

Project pipeline – investment properties in planning (approx. CHF 720 m.)

* Building land with interim use and rental income

1) Development from portfolio

Zurich, site C

• Investment CHF 80 m.
• Residential 96 apartments (to let) 1,500 m² commercial, retail
• Timing Dependent on building permit

• Target segment Upper middle class, DINKS 1) and singles

• Location Situated in Zurich-West/district 5 by Pfingstweidpark, urban,

1) double income no kids

Lausanne, Pépinières

• Restaurant, retail 5,200 m² Music school 2,100 m² Lofts 700 m²
• Investment CHF 35 m.

• Architect Burckhardt+Partner SA (GP)

• Target segment Public uses

(leisure, restaurant, services, offices, school)

• Location On the Esplanade du Flon 2. Destination FLON

Aarau, Torfeld site 1

• Offices 10,400 m² net area For sale 400 m² net area
• Investment by third parties Approx. CHF 50 m.
• Project incl. land sale Approx. CHF 14 m.
• Timing Dependent on approval for design plan
• Sale of site to investor Gastrosocial for own use
• Location: Central location by Aarau station, addressing at Torfeld Süd development

Regensdorf, im Pfand

• Property status In Mobimo's portfolio

• Use study Approx. 140 apartments

• Investment Approx. CHF 51 m.

• Timing Dependent on building permit and departure of existing tenants

• Target segment Families

• Location Residential district, quiet location, walking distance to local trains and town centre

Project pipeline – condo properties in planning (approx. CHF 330 m.)

Zurich, sites A and B

• Investment CHF 120 m.

• Residential site A 59 apartments (condominiums)

• Residential site B 81 apartments (condominiums)

• Timing Dependent on building permit

• Target segment Upper middle class, DINKS 1), and singles

• Location Situated in Zurich-West/district 5 by Pfingstweidpark, urban, good public transport links

1) double income no kids

2015

Zurich, im Schilf

• Investment CHF 20 m.
• Residential 10 apartments (condominiums)

• Architect Bob Gysin + Partner

• Target segment Families and singles

2010 2011 2012 2013 2014

• Location Zürichberg, next to Bethanien hospital

53

Aarau, Torfeld site 4

• Investment CHF 65 m.
• Residential 59 town houses (condos)
• Timing Dependent on approval for design plan

• Target segment Upper middle class, Urban avant-garde

• Location Central location by railway station and in centre of Aarau

Outlook: Focal points of operations in 2011

• Bringing the many building projects closer to completion
• Marketing of apartments for rent and condominiums
• Further quality improvements to portfolio (transformation, conversion, disposal)
• Further development in project pipeline

Contact details:

Christoph Caviezel, CEO Manuel Itten, CFO Tel: 044 397 11 56 Tel: 044 397 11 44 christoph.caviezel@mobimo.ch manuel.itten@mobimo.ch

Edwin van der Geest Media and IR ir@mobimo.ch

Disclaimer

The financial data as well as the other information presented herein constitute selected information.

The information in this presentation does not constitute an offer or invitation and may not be construed as a recommendation by us to purchase, hold or sell shares of Mobimo Holding AG. This information or any copy thereof may not be sent or taken to or distributed in any jurisdiction in which such transmission or distribution is unlawful. This document may contain certain 'forward-looking' statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Actual outcomes and results may differ materially from any outcomes or results expressed or implied by such forward-looking statements.