Mobimo Holding AG — Investor Presentation 2016

Feb 11, 2016

2015 Results

Agenda

1. Business year 2015 at a glance

2. Key financial figures 2015

3. Property portfolio & pipeline

4. Outlook & summary

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, forwardlooking 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.

1. Business year 2015 at a glance

Successful business year

Rental income growth	● Attractive residential developments were completed ● Strategic target of 30% rental income from residential usage has been achieved in the investment portfolio ● Entry into the real estate market of Geneva with acquisition of a portfolio
Income from development	● Well-filled pipeline for own projects and developments for third parties ● Secure investment opportunities on a long term basis with site developments
Profit on sale of investment properties	● High demand for investment properties, particularly for residential properties. Achieving of added value
Profit	● Company profit of CHF 105.0 m (previous year: CHF 63.2 m) Profit excl. revaluation1) of CHF 78.6 m (previous year: CHF 60.2 m) ●
Attractive dividend	● Shareholder-friendly payout of CHF 10.00 per share ● Dividend yield of 4.5% (2015 year-end share price)

1. Business year 2015 at a glance

Solid long-term performance

1. Business year 2015 at a glance

The right strategy for qualitative growth and stable returns

Capital gains	Appreciation in value	Rental income
• Profi t on trading properties and services • Profi t on sale of investment properties	• Increasing total value of the portfolio • Quality optimisation of the portfolio • High level of customer satisfaction • Net income from revaluation	• Stable and growing rental income • Net rental income • Return on equity incl. / excl. remeasurement • Gross yield from investment properties • Net yield from investment properties • Vacancy rate

Investment for third parties Development properties Investment properties

Buying / selling	Development	Portfolio management	Solid fi nancing
• Successful acquisitions • Good regional and user specifi c diversifi cation	• Many aspects to site development • Planning and realising residential and commercial properties • Planning and realising condominiums for third parties • Considering the needs of the environment	• Strategic development • Portfolio optimisation • Considering environmental, economic and social aspects • Reacting quickly and fl exibly to changes in the market	• Appropriate equity ratio for further qualitative growth • Long term guaranteed fi nancing at excellent conditions

Positive share price development

• Total Shareholder Return of 16.6% (dividend-adjusted) in 2015
• The liquidity of the Mobimo share and the trading volume were both higher than in the prior year
• The average number of shares traded daily was 11,638 (previous year: 8,672 shares)
• Thereby total turnover of CHF 614 m was achieved (previous year: CHF 410 m)
• Fall of SPI-Index as of 15.01.2015 as a result of the SNB`s cancellation of the euro minimum rate – growth of the Mobimo share price

Office and commercial property market	● Sideways trend unchanged ● Tough competition in the retail business
Rental market	● Stable demand, particularly in the low-price and mid-price segment
Condominium market	● Interest rate driven demand in the mid-price segment ● Low financing costs
Investments for	●
Third Parties	Strong demand
Market for	●
property	Strong demand for investment properties, particularly for residential
transactions	properties
Economic	●
environment	Impacts of the SNB`s cancellation of the euro minimum rate

Key income statement figures

in CHF m	2012 restated	2013	2014	2015	PY change
Net rental income	79.8	78.9	87.6	94.1	$+7.4%$ 7
Profit on sale of trading properties and services	21.7	31.6	24.9	5.5	$-77.9%$ N
Net income from revaluation	36.9	25.2	3.8	34.7	$+813.2%$ 7
Profit on sale of investment properties	$-0.1$	7.1	4.9	63.8	$7 + 1202.0\%$
EBIT incl. revaluation	117.2	119.4	97.6	170.4	$+74.6%$ 7
EBIT excl. revaluation	80.3	94.1	93.8	135.7	$+44.7%$ 7
Tax expense	$-17.6$	$-16.7$	$-4.8$	$-34.1$	$+610.4%$ 7
Profit incl. revaluation	75.9	81.6	63.2	105.0	$+66.1%$ 7
Profit excl. revaluation	48.5	62.6	60.2	78.6	$+30.6%$ 7

11 Results 2015

Selected return ratios

in $%$	2012 restated	2013	2014	2015		PY change
Return on equity incl. revaluation	6.7	7.1	5.2	8.9	$\overline{\mathbf{z}}$	$+71.2%$
Return on equity excl. revaluation	4.3	5.4	5.1	6.7	7	$+31.4%$
Gross yield on investment properties	5.8	5.7	5.6	5.4	$\rightarrow$	$-3.6%$
Net yield on investment properties	4.8	4.6	4.5	4.3	$\rightarrow$	$-4.4%$
Yield spread	1.8	1.9	2.0	1.9	$\rightarrow$	$-5.0%$
Vacancy rate	3.8	3.9	5.4	4.7	N	$-13.0\%$

Rental income as an essential revenue pillar

• Increase of 3% compared to the prior year
• Doubling of a rental income since the IPO (130% increase)
• This rise is mainly based on
• new entry of completed properties in our own portfolio
• successful acquisitions

Medium to long-term maturity profile of the fixed-term rental agreements1)

1) Not including rental agreements of unlimited duration

Components of net income from revaluation

• Gain from revaluation after positive development on the transaction market as a result of market-related evaluations concerning residential properties
• Value gains from properties under construction

Long-term financing at excellent conditions

• Broadly diversified financing structure:
• Mortgage financing from banks and institutional partners
• Issuing of bonds on the capital market
• As at the reporting date 31.12.2015, the average interest rate was 2.33%

Solid equity ratio of 43% as basis for further high-quality growth

• Goal of > 40% achieved

• Still solid equity ratio basis

• Target of > 2 clearly exceeded Well under the maximum level of 150%

• Considerable financial headroom

Share data 2. Key financial figures 2015

in CHF	2012 restated	2013	2014	2015		PY change
Shares issued	6,208,913	6,214,478	6,216,606	6,218,170	$\rightarrow$	$+0.0%$
Share capital	180.1 m	180.2 m	180.3 m	180.3 m	$\rightarrow$	$+0.0%$
Market capitalisation	1,359.1 m	1,156.5 m	1,238.3 m	1,384.8 m	$\overline{\boldsymbol{\lambda}}$	$+11.8%$
Year-end share price	218.90	186.10	199.20	222.70	7	$+11.8%$
Distribution	9.00	9.50	9.50	10.00	$\overline{\phantom{a}}$	$+5.3%$
Payout ratio	73%	72%	95%	60%	N	$-36.8%$
NAV per share 1)	193.99	200.01	195.93	202.45	→	$+3.3%$

1) Assuming all options granted and conversion rights are exercised

Shareholder structure 2. Key financial figures 2015

• Free float as at 31.12.2015: 100% (as per SIX Swiss Exchange definition)
• The following shareholders held 3% or more of the share capital as at 31.12.2015:
• BlackRock, Inc., 5.02%
• Zuger Pensionskasse, 3.38%

Attractive distribution 2. Key financial figures 2015

• Solid earnings per share of CHF 16.72
• High distribution of CHF 10.00 per share
• Attractive distribution policy continued

Selected subjects 2. Key financial figures 2015

Rental income	● Further portfolio growth leads to increasing rental income ● Attractive pipeline ensures the increase of further investment properties
Revaluation	● Market demand leads to positive valuation trends particularly for residential properties
Result	● Record result incl. and excl. revaluation
Interest rate development	● Negative SNB interest rates

Growth of the overall portfolio 3. Property portfolio & pipeline

Total value: CHF 2,655 m (2014: CHF 2,470 m)

in CHF m	2014	2015	Change
Investment properties	1,908	2,132	$7 + 11.7%$
Commercial properties	1,381	1 3 7 2	$-0.7%$
Residential properties	527	760	$+44.2%$
Development properties	562	523	$-6.9%$ ↘
Commercial properties (Investment)	180	171	↘ $-5.0%$
Commercial properties (Trading)	17	29	+70.6%
Residential properties (Investment)	177	125	$-29.4%$
Residential properties (Trading)	188	198	$+5.3%$

Strengthening of the portfolio by active management and continuous development

Well-filled project pipeline 3. Property portfolio & pipeline

Development and construction of investment properties for our own portfolio

Development, construction and sale of condominiums

under construction: CHF 100 m (PY 160 m) in planning: CHF100 m (PY 180 m)

Buildings completed in 2015 Amount invested CHF 160 m

Property portfolio: Region Zurich Own developments with high quality and returns

Property portfolio: Region Lausanne In central locations with the best quality

Portfolio Dual 3. Property portfolio & pipeline

• 27 properties under construction, thereof 25 residential properties and 1 commercial property in the Canton of Geneva in a central or mid-level location as well as 1 commercial property in Basel
• Value of the portfolio (as at 31.12.2015): CHF 242 m
• Target rental income: CHF 12.4 m
• 690 apartments
• 85% of rental income from residential use, 7% retail, 5% office, 3% parking
• Average actual rent at low CHF 264/m² p.a.

29 Results 2015

Portfolio Dual Opportunities and challenges

● Opportunities

• Strategic extension of the investment portfolio
• Residential usage
• Promising locations
• Future prospects: Creation of value for shareholders through rent income potential and cost reduction
• Attractive and efficient entrance in the real estate market in Geneva due to the portfolio size
• Various possibilities for portfolio improvement and selective development
• Synergy effect through management in Lausanne (Mobimo Suisse romande)
• Challenges
• Dependence of restrictive rental law and constricting legislation in the Canton of Geneva

Attractive property portfolio focusing on Zurich and Western Switzerland

Well-balanced and stable portfolio mix

• Portfolio mix is optimised on an ongoing basis
• Residential component is gradually being increased through the planning and construction of investment properties for our own property portfolio
• The residential component above 29%
• Over the medium term, residential use, office use and other commercial uses each account for approximately 30% of the investment portfolio

Allaman, VD 3. Property portfolio & pipeline

SITE AREA 23,213 m2

USE (PLANNED)

300 compact apartments (26,100 m2 HNF) and 287 parking spaces

RENT

Tenants: logistics, rental agreements run until 31.12.2019

LOCATION

Wine village in the south-west of Morges, right next to the train station, light hillside location towards the lake

Planned building starts in 2016 Amount invested approx. CHF 380 m

34 Results 2015

Investments for Third Parties 3. Property portfolio & pipeline

1) Source: Copyright Losinger Marazzi AG

Site development Potential amount invested approx. CHF 2 bn

4. Outlook & summary Focus 2016

Strategy	● Expansion of the Investments for Third Parties business area
Operating business	● Increase in rental income and reduction in vacancy rates ● Integration portfolio of Geneva ● Rigid cost control and risk management
Property portfolio	● Secure realisation of different building projects ● Continuous quality optimisation of the portfolio
Transaction market	● Continuing examination of further acquisition and sale opportunities

Stable income	● High value portfolio on exceptional locations ● Diversified ● Low vacancy rate
Growth and increasing income	● Attractive investment pipeline secured on exceptional locations
Security	● High equity ratio and long-term funding
Know-how	● Mobimo team is competent and committed
Yield	● Share with attractive yield ● Dividend of CHF 10.00 per share ● Free of withholding tax for private shareholders

Your contact persons

Christoph Caviezel CEO

• Dr. iur., Attorney at Law
• Chairman of the Executive Board
• CEO of the Mobimo Group since October 2008
• Direct Manager of the Purchase and Divestment division
• Spent several successful years as CEO and member of the Board of Directors of a listed Swiss real estate company

christoph.caviezel@mobimo.ch manuel.itten@mobimo.ch

ir@mobimo.ch, Tel. 044 397 11 86

Manuel Itten CFO

• Business Administration FH
• Member of the Executive Board
• Joined Mobimo in 2004, working as CFO since 2009
• Head of Controlling until February 2009
• Long standing experience in the real estate market

Address	Fair value 31.12.15 in TCHF	Use
Lausanne, Ilot du Centre Rue Beau Séjour 8	88,790	Rental apartments
Lausanne, Petit Mont-Riond Rue Voltaire 2-12	64,060	Rental apartments
Lausanne, Les Mercier Voie du Chariot 4-7	63,610	Commercial property
Zurich, Secret Garden Manessestrasse 190/192	63,160	Rental apartments

Address	Fair value 31.12.15 in TCHF	Use
Kreuzlingen, Ziil Center Leubernstrasse 3	62,038	Commercial property
Zurich, Hochhaus Hardturmstrasse 3	59,850	Commercial property
Regensdorf, Sonnenhof Schulstrasse	55,400	Rental apartments
Zurich, Oh!mega Katzenbachstrasse 221-231	55,400	Rental apartments

Address	Fair value 31.12.15 in TCHF	Use
Zurich, Apollo Stauffacherstrasse 41	49,350	Commercial property
Lausanne, Les Pépinières, Rue des Cotes-de-Montbenon 20-24	41,160	Commercial property
Onex, Avenue des Grandes Communes 21-23-25	36,520	Apartments

Attractive portfolio Increase in value from development for own portfolio Annex

Total value: CHF 2,655 m (2011: CHF 2,171 m)

in CHF m	2011	Share	2015	Share	Change
Investment properties	1,468	68%	2,132	80%	$7 + 45.2%$
Commercial properties	1,133	52%	1,372	52%	Л $+21.1%$
Residential properties	335	16%	760	28%	+126.9%
Development properties	703	32%	523	20%	$-25.6%$
Commercial properties (Investment)	230	13%	171	6%	N $-25.6%$
Commercial properties (Trading)	0	0%	29	$1\%$	n.m.
Residential properties (Investment)	154	4%	125	5%	N $-18.8%$
Residential properties (Trading)	319	15%	198	8%	N $-37.9%$

The five biggest tenants Annex

● The five biggest tenants generate 19.8% of rental income

Profitable and fast-growing portfolio Annex

• Portfolio of investment properties went up due to acquisitions and developments in the project pipeline
• Targeted development of residential and commercial properties for the company's own portfolio
• Quality of the portfolio is being further optimised with newly built investment properties
• Share of investment properties rises to 80% of the overall portfolio

Investment properties under construction Amount invested CHF 340 m

	2016	2017	2018	2019
Aarau, Baufeld 2 (Torfeld South)		6 Residential/office buildings
Horgen, Seestrasse 93 (Grob-Areal)	Commercial
Kriens, Sternmatt 6	Parking garage
Zurich, Albulastrasse/Hohlstrasse	5 office/commercial und 7 residential units
Zurich, Letzigraben	72 apartments, 8 rec rooms

Condominiums under construction Amount invested CHF 100 m

	2016	2017	2018	2019
Aarau, Baufeld 4 (Torfeld South)	92 apartments
Lucerne, Büttenhalde	$\rightarrow$ 2 MFD with 24 condominiums, 2 studios

Investment properties in planning Amount invested CHF 400 m

	2016	2017	2018	2019
Kriens, Mattenhof I		Office, apartments, retail, hotel
Lausanne, Rue Côtes-de-Montbenon (Les-Garages)	Small commercial
Lausanne, Rue Côtes-de-Montbenon (Flon)				Apartments, office, retail
Lausanne, Rue de Genève 19/21 (Jumeaux)		Retail, office, storage
Lausanne, Vigie 3, Flonville			Apartments, office, retail
Lausanne, Avenue d'Ouchy 4-6			Urban development

Condominiums in planning Amount invested CHF 100 m

	2016	2017	2018	2019
Merlischachen, Burgmatt		78 condominiums
Weggis, Hertensteinstrasse	sale of lot

Lausanne Rasude (La Poste) Annex

2017 2018 2019 2020 2021 2022 2023

SITE AREA 19,000 m2 (12,000 m2 Mobimo)

USE

Office, hotel, apartments (condo/ rentals), retail, catering (joint project with SBB)

INVESTMENT approx. CHF 200 m

LOCATION Lausanne train station

Aeschbach-Quartier Aarau «AQA» Annex

2017	2018	2019	2020	2021	2022	2023

SITE AREA 55,000 m2 (incl. park)

USE

approx. 1,400 workplaces, 92 condos, approx. 170 rentals, retail, catering, commercial

INVESTMENT approx. CHF 170 m (excl. GastroSocial)

LOCATION

Central, next to Aarau main station

Lausanne "Flon Vision 2025" Annex

2017	2018	2019	2020	2021	2022	2023

SITE AREA 55,000 m2

USE

Further development of the Flon district

INVESTMENT approx. CHF 200 m

LOCATION

Central, in immediate vicinity of the underground station

Lucerne South Mattenhof Annex

2017 2018 2019 2020 2021 2022 2023

SITE AREA 25,000 m2

USE

Office, apartments, hotel, retail, catering, commercial

INVESTMENT approx. CHF 260 m

LOCATION

Directly next to Mattenhof train station and in immediate vicinity of the motorway access road

Biel Agglolac Annex

2017	2018	2019	2020	2021	2022	2023

GROSS FLOOR SPACE approx. 110,000 m2

USE

Development of a new city district with residential, work, catering, hotel, retail and commercial use

INVESTMENT approx. CHF 350 m

LOCATION

In immediate vicinity of the lake and near the train station

Rheinmetall Zurich Annex

2017 2018 2019 2020 2021 2022 2023

SITE AREA 53,000 m2

USE

Residential, office, commercial, catering, events

INVESTMENT approx. CHF 500 m

LOCATION

In immediate vicinity of Oerlikon train station