Holger Schmidtmayr | Ernst Vejdovszky | Friedrich Wachernig

Q1 Results 2012S IMMO AGConference CallVienna, 24 May 2012

2

Portfolio & markets1.

Appendix5.

Outlook4.

S IMMO Share3.

Key figures Q1 20122.

Agenda

3

Portfolio & markets

4

Real estate assetsin EUR m

real estate experience

Sparkassen Immobilien Anlagen AG was founded in Austria in 1986/1987

1,934

136 145 203282 313 337

446

707

1,9692,013

1,808

152

1,172

1,528

1,901

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Q12012

55

Our markets

GermanyGDP growth: 1.9Debts: 81.1

AustriaGDP growth: 0.9Debts: 74.8

CEE HU: GDP growth: -0.5

Debts: 76.3SK: GDP growth: 1.4

Debts: 47.1CZ: GDP growth: 0.5

Debts: 43.0

SEE RO: GDP growth: 1.2

Debts: 34.4BG: GDP growth: 3.7

Debts: 18.6HR: GDP growth: -1.0

Debts: 66.7

Germany

Czech Republic

Austria

Slovakia

HungaryRomania

Bulgaria

Croatia

Forecasts 2012Data in %

Sources: Erste Group, European Commission

6

Property portfolio

6.8%Portfolio rental yield

93.1%Occupancy rate

1,355,797 m²Floor space

7

Diversified portfolio

8

Rental income

9

Highlights of our over 6,800 tenants

10

Sales | AUSTRIA AND GERMANY

Gains on property disposals came to EUR 0.7m. Compared to the estimated values as at 30 September 2011, gains on property disposals amounted to EUR 4.2m.

Five residential properties in Berlin, one office building in Munich, one residential property in Vienna

11

Key figures Q1 2012

12

30,291

24,053

3,5905,416

30,103

23,609

5,929 6,404

Rental income EBITDA FFO Net income

01-03/2011 01-03/2012

Highlights key figures Q1 2012In EUR ’000

+ 18.2%+ 65.2%

- 1.9%- 0.6%

13

Income statement

577652Gains on property sales27,73226,697Gross profit

-16,939-16,281Expenses directly attributable to properties3,6143,075Other operating income8,4217,742of which revenues from hotel operations

-4,256-3,740Management expenses24,053

-7,194

9,53930,29148,251

31 March 2011

23,609EBITDA

-7,008Hotel operating expenses

9,066of which revenues from operating costs 30,103of which rental income46,911Revenues

31 March 2012In EUR ’000

14

Income statement

6,404 5,416Consolidated net income for the period-112758Taxes on income

-3,450-3,193Participating certificates result-17,634-16,274Financing costs26,61225,113Operating result (EBIT)

5,528

5,000-2,44124,053

31 March 2011

5,646Net income before tax (EBT)

3,850Gains / losses on property valuation-2,346Depreciation and amortisation23,609EBITDA

31 March 2012In EUR ’000

15

Funds From Operations (FFO)

• S IMMO’s FFO increased by an impressive 65.2% to EUR 5.9m (Q1 2011: EUR 3.6m).

• In calculating FFO, the results for the period are adjusted for non-cash items such as depreciation and amortisation, valuation gains and losses on interest rate hedges and exchange rate differences.

16

Net Asset Value

• As at 31 March 2012, balance sheet NAV stood at EUR 7.06 per share (31 December 2011: EUR 6.96 per share).

• The EPRA NAV, the inner value of the share calculated in accordance with the guidelines of the European Public Real Estate Association, was EUR 8.88 per share(31 December 2011: EUR 8.70 per share).

• EPRA NAV represents the value of equity minus the effects that do not have a long-term impact on the business activities of the Group, such as valuations of derivatives and deferred taxes.

17

126.7

1,957.7

1,145.8

198.0234.0

506.6

0

500

1.000

1.500

2.000

2.500

Assets Equities and liabilities

Consolidated statement of financial position

In EUR m

2,084.4 2,084.4

Non-current assetsCurrent assets

EquitySubordinated participating certificate

Non-current liabilitiesCurrent liabilities

18

Bank debt and LTV

81,582thereof negative fair value of derivatives

56%Loan to value ratio (excluding derivative valuation)

1,161,039Net financing debts-60,483Cash and cash equivalents

1,221,522Total bank debt and financial liabilities152,821Short-term bank debt and financial liabilities

1,068,701Long-term bank debt and financial liabilities

1,934,381Total portfolio value60%Loan to value ratio (including derivative valuation)

31 March 2012In EUR ’000

19

Terms of financial liabilities

45,4514 to 5 years32,9473 to 4 years

185,9252 to 3 years37,8301 to 2 years

152,821Less than 1 year

766,547More than 5 years

31 March 2012In EUR ’000

20

Solid finance structure

17%Immorent / Sparkassen

7%German banks

52%Other Austrian financial institutions

24%Erste Group Bank

Financial institutionsFinancing costs

• Cost of funding: 4.66%

• Variable interest loans are hedged with swaps, caps und collars

21

Property portfolio

1,969,500134,321

62,80055,480

1,716,899

31 December 2011

1,934,381Total portfolio value132,487Owner-operated properties

27,195Properties held for sale56,005Properties under development and undeveloped land

1,718,694Investment properties

31 March 2012In EUR ’000

22

S IMMO Share

23

Stable core shareholders

24

S IMMO Share

PERFORMANCE (as at 31 March 2012)Year-to-date: -11.06%

8.88EPRA NAV per share (EUR)

49%Share price discount from EPRA NAV

SIAG.VIReuters Ticker

36%Share price discount from balance sheet NAV

60,600Trading volume shares (100 days Ø)

303,000Trading volume EUR (100 days Ø)

210.7Market cap participating certificate (EUR m)

0.09Earnings per share (EUR)

7.06Balance sheet NAV per share (EUR)

68,118,718Shares

4.488Share price (EUR)

305.7Market cap share (EUR m)

SPI:AVBloomberg Ticker

KEY FIGURES as at 31 March 2012

25

Capital Market | MEASURES

Furthermore, the Management Board will propose to the Annual General Meeting new authorisation rights for the Management Board to repurchase further own shares.

S IMMO INVEST repurchase programme until 20 June 2012 (in total approx. 12% of all participating certificates repurchased)

S IMMO Share repurchase programme (so far 483,998 shares repurchased)

Propose of dividend distribution to the Annual General Meeting: EUR 0.10 per share (Dividend payment planned for 15 June 2012)

2626

Outlook

27

Outlook

Profitability increase by

• Sales: approx. 5% of portfolio in 2012 (EUR 100m minimum)

• Further letting increases in SEE

• Completion of refurbishment programme in Germany: cost decrease and corresponding an increase in property value

28

Outlook

Use of funds to

• Repurchase S IMMO Shares

• Repurchase S IMMO INVEST participating certificates

• Payment of dividend

• Reduction of loan to value ratio to under 55%

29

Development project | QUARTIER BELVEDERE CENTRAL

Mixed use types: offices, hotels, retail space

Development in several phases

Zoning rights given in January 2012

Planned gross floor space: around 130,000 m²

District at the future Vienna Central Station

Holger Schmidtmayr | Ernst Vejdovszky | Friedrich Wachernig

Q1 Results 2012Thanks foryour attention!

31

Appendix

32

Consolidated statement of financial position | ASSETS

2,175,3782,084,395

62,80027,195Properties held for sale42,70343,299Other non-current assets7,4727,227Other plant and equipment

7,0977,017Inventories33,34631,988Other current assets

115,260

134,3211,772,379

31 March 2011

60,483Cash and cash equivalents

132,487Owner-operated properties1,774,699Properties held as financial investments

31 March 2012In EUR ’000

33

Consolidated statement of financial position |EQUITIES AND LIABILITIES

2,175,3782,084,395

80,20977,105Other non-current liabilities257,871198,001Current liabilities

29,08828,598Non-controlling interest154,285158,796Other reserves

73,41673,329Capital reserves

1,672,2481,577,797Liabilities230,797233,990Subordinated participating certificate capital

1,103,371

246,341503,130

31 March 2011

1,068,701Non-current financial liabilities

245,875Share capital506,598Shareholders’ equity

31 March 2012In EUR ’000

34

Appendix | COVERAGE

HoldEUR 4.80Raiffeisen Centrobank

OverweightEUR 5.20HSBC Global ResearchHoldEUR 4.04KBC Securities

BuyEUR 7.00SRC Research

AccumulateEUR 5.20Erste GroupOutperform

RECOMMENDATION

EUR 5.30Edge Capital

FAIR VALUERESEARCH HOUSE

35

Appendix | MEMBERS OF THE BOARD

Holger Schmidtmayr MRICS

Acquisition/sale of standing properties, Investor Relations & Corporate Communications, Legal, ComplianceWith the Company for ten years, Member of the Manage Board for seven yearsFour years experience in CEE trading finance

Friedrich Wachernig MBA

Project development, Asset Management in CEE/SEE, Acquisition and Sales of development land and projects, Organisation, IT, HRWith S IMMO AG as Management Board since November 200717 years of experience in managing property development projects in CEEStudied economics

Ernst VejdovszkyFinance, Asset Management Austria and Germany, Risk ManagementCo-founder of Sparkassen Immobilien Anlagen AGTen years in Management Board of Immorent. 23 years in Management Board of S IMMO AG

ErnstVejdovszky

HolgerSchmidtmayr

FriedrichWachernig

36

INTERNATIONAL INVESTORS /STRATEGIC MARKETING

Sylwia Milke

Phone: +43 (0)50 100-27402E-mail: sylwia.milke@simmoag.at

CORPORATE COMMUNICATIONS / OPERATIONAL MARKETING

Elisabeth Wagerer

Phone: +43 (0)50 100-27867E-mail: elisabeth.wagerer@simmoag.at

AUSTRIAN INVESTORS

Andreas Feuerstein

Phone: +43 (0)50 100-27556E-mail: andreas.feuerstein@simmoag.at

CORPORATE COMMUNICATIONS / PR

Bosko Skoko

Phone: +43 (0)50 100-27522E-mail: bosko.skoko@simmoag.at

Appendix | CORPORATE COMMUNICATIONS & IR

CORPORATE COMMUNICATIONS / INVESTOR RELATIONS

Angelika Scheid, BA

Phone: +43 (0)50 100-27063E-mail: angelika.scheid@simmoag.at

37

Appendix | NEW WEBSITE

From now on we offer following services on www.simmoag.at:

• Advanced real estate data base

• Newsletter subscription

• Ad hoc releases and share price via SMS

• RSS-Feeds

38

Appendix | FINANCIAL CALENDER 2012

Results for the first half year 201223 August 2012

Results for the first three quarters 201222 November 2012

Results for the first quarter 201224 May 2012

Annual General Meeting01 June 2012

39

DisclaimerThese materials have been prepared by S IMMO AG (the "Company") solely for informational purposes, is intended for your use only and does not constitute an offer or commitment, a solicitation of an offer or commitment, or any advice or recommendation to enter into or conclude and transaction.

These materials contain forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which are determined and expressed in good faith and, in their opinion, reasonable. The assumptions and parameters used are not the only ones that might reasonably have been selected and therefore no guarantee is given as to the accuracy, completeness or reasonableness of any such information, disclosure or analysis. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company, or results of the real estate industry generally, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, recipients of this document are cautioned not to place undue reliance on these forward-looking statements. This material does not purport to contain all the information that an interested party may desire. In any event, each person receiving these materials should make an independent assessment of the merits of pursuing a transaction. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments options and estimates may be changed without notice.

The materials contained in this presentation have not been subject to independent verification. No representation, warranty or undertaking, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. None of the Company, its affiliates or its advisors, nor any representatives of such persons, shall have any liability whatsoever (in negligence or otherwise) for any loss arising from any use of this document or its contents or otherwise arising in connection with this document.