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Press Release

VIB Vermögen AG: Combined value growth – following the successful completion of the partial tender offer, DIC Group and VIB Vermögen AG have signed a business combination agreement

– DIC now majority shareholder of VIB, holding approximately 60%

– Combined growth strategy in the logistics sector

– DIC supports VIB’s dividend proposal for 2021; annual general meeting postponed until the end of August

– Changes to VIB’s corporate bodies – Dirk Oehme appointed as member of the Management Board

– Annual targets of DIC raised due to the full consolidation of VIB

Neuburg/Danube, March 23, 2022 – VIB Vermögen AG, a company specializing in the development, acquisition and portfolio management of commercial properties, signed a business combination agreement with DIC Asset AG (“DIC” and, together with its subsidiaries, “DIC Group”) last night, following the successful expiration of DIC’s partial tender offer for shares of VIB. The aim is to pursue the long-term value growth of the DIC Group and VIB as a whole, and to improve their competitive position.

DIC Group already holds 60% of the outstanding VIB shares. A total of approximately 33.7% of the VIB shares have been tendered to DIC as part of the offer, which is more than the 6,500,000 VIB shares included in the partial tender offer. DIC Group intends to accept the offer for a total of 6,590,000 VIB shares (subject to any rounding in the context of the pro-rata acceptance). The completion of the tender offer and the retransfer of any excess VIB shares are expected to be completed by 1 April 2022.

Following the completion of the tender offer, DIC Group will hold approximately 60% of the outstanding VIB shares. Accordingly, DIC intends to fully consolidate VIB as of 1 April 2022.

DIC Group will use its majority stake in VIB to consistently expand its portfolio, particularly in the promising asset class of logistics real estate, and its footprint in southern Germany. The combined real estate assets of DIC Group and VIB amount to more than EUR 13 billion. DIC Group thereby expands its position as a leading office and logistics player in Germany’s commercial real estate market, while strengthening the basis for successful future growth.

Prof. Dr. Gerhard Schmidt, the Chairman of the Supervisory Board of DIC, said after the successful expiration of the partial tender offer to VIB shareholders: “With the majority acquisition of VIB, which will be fully consolidated by DIC going forward, DIC has impressively demonstrated its growth ambitions and significantly expanded its position within the highly attractive asset class of logistics real estate. It marks another important step for DIC Group’s growth strategy.”

Sonja Wärntges, CEO of DIC, commented: “I am pleased to warmly welcome all employees, tenants and all other stakeholders of VIB aboard DIC Group. Together, we will be starting a new chapter in our company’s success story today. DIC aspires to dynamic performance, and we will now take this aspiration to the next level as we pursue ambitious new goals. We have all the prerequisites in place to sustain our growth in the logistics real estate sector, a market rich in opportunity, and to dynamically expand our position as a leading company in Germany’s commercial real estate market. This will benefit our employees as well as our tenants, shareholders and investors. We expect to see an increase in gross rental income and a positive FFO contribution from the consolidation for the current year.”

Neuburg to remain domicile and registered seat of VIB
DIC commends the workforce of VIB for its motivation, creativity, willingness to perform and innovativeness as the very foundation of VIB’s past achievements. DIC seeks to continue and deepen its constructive dialogue with all employees of VIB, and to support VIB’s management board in its efforts to create and maintain an attractive and competitive framework in order to preserve its outstanding employee base. In addition, the size and diversity of DIC will offer VIB employees a significantly widened range of opportunities for their personal career development.

In the business combination agreement, DIC has agreed to retain the registered seat and actual administrative headquarters as well as the principal business address of VIB in Neuburg a. d. Donau. Additional commitments have been agreed with respect to subsidiaries of VIB.

“The talks with DIC were very constructive. We share the belief that the successful business model and the proven growth strategy of VIB should be continued. The same kind of continuity will be pursued for the location of Neuburg and our staff. This will secure the company’s ability to continue the success of recent years under the umbrella of DIC Group. I would like to take the opportunity to thank Martin Pfandzelter and Holger Pilgenröther for their tireless efforts. The company has thrived under their leadership. This is documented not least by the record results announced today. I wish both board members good luck and success for their future endeavours,” said Ludwig Schlosser, Chairman of the Supervisory Board of VIB, and himself a former member of the Management Board between 2000 and 2016, seven years thereof as CEO.

Reconciliation of financial calendars, annual general meeting and dividend
As part of the business combination agreement, it was also decided to align the financial calendars of DIC and VIB, and to immediately intensify the exchange of information and data. The annual general meeting of VIB, originally scheduled for the end of June 2022, is set to be rescheduled for late August 2022, in order to allow enough time for joint preparations and coordination. DIC supports the dividend proposal of EUR 0.85 per VIB share for the fiscal year 2021.

Intended changes to VIB’s Supervisory Board and Management Board
In the business combination agreement, it was also agreed that DIC should be represented on the Supervisory Board of VIB in a manner that adequately reflects its shareholding in VIB. In accordance with VIB’s articles of association, the Supervisory Board will continue to comprise four members. DIC, as majority shareholder of VIB, has proposed that the governing bodies of VIB apply for the court appointment of Sonja Wärntges and Prof. Dr. Gerhard Schmidt to replace the two members of the Supervisory Board of VIB who resigned on 22 March 2022. At the same time, DIC appreciates the willingness of Ludwig Schlosser and Jürgen Wittmann to continue their mandates as part of the Supervisory Board of VIB.

DIC welcomes and supports the appointment of Dirk Oehme as an additional member of the Management Board of VIB. Conversely, DIC as incoming majority shareholder regrets the decision by Martin Pfandzelter and Holger Pilgenröther to resign their mandates on the Management Board of VIB with effect as of 30 June 2022. On the Supervisory Board of VIB, DIC’s representatives will support the measures initiated by Chairman of the Supervisory Board, Ludwig Schlosser, to fill the vacant positions on VIB’s Management Board.

Revision of DIC’s forecast for 2022
Having attained a controlling stake in VIB, and assuming full consolidation of the VIB Group as of 1 April 2022, DIC has re-evaluated the anticipated development of DIC’s performance indicators for the current fiscal year. DIC’s original forecast from 9 February 2022 did not yet reflect any effects from inorganic growth. DIC now expects an increased gross rental income of between EUR 170 and 180 million and a growth in the key control variable Funds from Operations (FFO) after minority interests and before taxes to between EUR 130 and 136 million, in either case for the fiscal year 2022. All other target forecasts remain unchanged: real estate management fees of between EUR 105 and 115 million, an acquisition volume of EUR 1.4 to 1.9 billion, thereof EUR 200 to 300 million from the Commercial Portfolio and EUR 1.2 to 1.6 billion from the Institutional Business, and a sales volume of EUR 300 to 500 million, thereof c. EUR 100 million from the Commercial Portfolio and EUR 200 to 400 million from the Institutional Business.

About VIB Vermögen AG

VIB Vermögen AG is a mid-market real estate holding company whose investments concentrate on commercial real estate in southern Germany. Formed as a partnership in 1993, VIB Vermögen AG was converted into a public limited company in the year 2000. In the years since, the company has developed its core competencies in the areas of buying and administrating properties it owns outright and of acquiring equity interests in companies with real estate assets. VIB Vermögen AG pursues a buy-and-hold strategy. It develops real estate for its own portfolio but also acquires existing properties. The real estate portfolio of the VIB Group includes a variety of logistics real estate and industrial plants, shopping centres and retail parks, as well as business and service centres. With a total lettable area of about 1.3 million sqm, the VIB Group achieves sustainable rental yields.

About DIC Asset AG

DIC Asset AG is Germany’s leading listed specialist for commercial real estate with more than 20 years of experience on the real estate market and access to a broad-based network of investors. Our business is based on a regional and inter-regional real estate platform with eight offices on the ground in all major German markets. We manage 237 assets with a combined market value of c. EUR 11.5 billion on site, always close to our properties and their occupiers.

The Commercial Portfolio segment represents the proprietary real estate portfolio of DIC Asset AG. Here, we generate steady cash flows from stable rent revenues on long-term leases while also optimising the value of our portfolio assets through active management, and realising gains from sales.

In the Institutional Business segment, we earn recurrent fees from real estate services we provide to national and international institutional investors by structuring and managing investment vehicles that return attractive dividend yields.

DIC Asset AG has been SDAX-listed since June 2006.

IR/PR Contact VIB Vermögen AG
Petra Riechert
Head of Investor Relations
Tilly-Park 1
D-86633 Neuburg an der Donau
Phone: +49 (0)8431 90771952
ed.ga-biv@trehceir.artep

IR/PR Contact DIC Asset AG
Peer Schlinkmann
Head of Investor Relations & Corporate Communications
Neue Mainzer Strasse 20
D-60311 Frankfurt am Main
Phone +49 69 94548581492
ed.tessa-cid@ri

Disclaimer

This announcement is for information purposes only and neither constitutes an offer to purchase or exchange nor an invitation to sell or to make an offer to exchange securities of VIB. The final terms of the offer as well as further provisions regarding the partial offer have been disclosed in the offer document. Potential investors and holders of securities of VIB are strongly recommended to read the offer document and all other announcements in connection with the partial offer, as they contain or will contain important information. The offer period for the partial tender offer has already expired.

The offer is made exclusively under the laws of the Federal Republic of Germany. The offer is not subject to the legal provisions of the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz), because the shares in VIB are only traded on the unregulated market (Freiverkehr). The offer will not be executed according to the provisions of jurisdictions other than those of the Federal Republic of Germany. Thus, no other announcements, registrations, admissions or approvals of the offer outside of the Federal Republic of Germany have been filed, arranged for or granted. Investors and holders of securities in VIB cannot rely on having recourse to provisions for the protection of investors in any jurisdiction other than the Federal Republic of Germany. The offer is not being made directly or indirectly, in any jurisdiction where to do so would constitute a violation of the national laws of such jurisdiction.

DIC expressly reserves the right to, directly or indirectly, acquire additional shares in VIB outside the offer on the stock exchange or outside the stock exchange or to enter into agreements regarding such acquisitions.

To the extent that this document contains forward-looking statements, such statements do not represent facts and are characterized by words such as “would”, “expect”, “believe”, “estimate”, “intend”, “aim”, “assume” or similar expressions. Such statements express the intentions, opinions or current expectations and assumptions of DIC and the persons acting in concert with DIC. Forward-looking statements are based on the current forecasts, estimates and predictions made by DIC and the persons acting in concert with it to the best of their knowledge, but may turn out to be inaccurate. Forward-looking statements are subject to risks and uncertainties and are influenced by factors that are typically difficult to predict and may be outside the control of DIC and the persons acting in concert with it. The actual events or developments may differ significantly from the plans, estimates and forecasts expressed or contained in the forward-looking statements. DIC and the persons acting in concert with it assume no obligation to update forward-looking statements with respect to actual developments or events, general conditions, assumptions or other factors.

Preliminary results 2021

VIB Vermögen AG achieves record results

– Revenues increase by 10.2 percent to EUR 103.8 million

– Adjusted earnings before taxes (EBT) rise by 15.6 percent to EUR 66.7 million

– Group profit grows by 128.5 percent to EUR 153.7 million

– Dividend proposal for thirteenth consecutive increase to EUR 0.85 per share

– Forecast for fiscal year 2022 envisages further growth

Neuburg/Danube, March 23, 2022 – According to preliminary calculations, VIB Vermögen AG, a company specializing in the development, acquisition and portfolio management of commercial properties, was able to increase its revenues and earnings considerably in fiscal year 2021. Compared to the same period of the previous year, revenues increased by 10.2 percent from EUR 94.2 million to EUR 103.8 million as a result of additional rental income.

Group earnings reach record level of EUR 153.7 million
Expenses for financing the portfolio decreased to EUR 13.4 million (previous year: EUR 14.1 million) due to the continued favorable financing conditions. Earnings before taxes (EBT) adjusted for valuation effects rose significantly by 15.6 percent to EUR 66.7 million (previous year: EUR 57.7 million). Consolidated net profit more than doubled compared to the same period of the previous year, growing by 128.5 percent to EUR 153.7 million (previous year: EUR 67.3 million). Based on the number of EUR 27.6 million shares, this corresponds to earnings per share of EUR 5.39 (previous year: EUR 2.39).

Further growth in value of real estate portfolio
At the end of the year, the portfolio comprised 112 properties with a balance sheet value of EUR 1.5 billion. The net reinstatement value (NRV), which determines the value of the long-term portfolio, improved by 21.9 percent to EUR 887.3 million. In relation to shares outstanding, this corresponds to a 21.3 percent increase in the value of EUR 32.02 per share.

The positive change in value of investment properties increased significantly to EUR 108.2 million (previous year: EUR 22.3 million). At the same time expenses for investment properties fell to EUR 16.6 million (previous year: EUR 17.4 million) and group personnel expenses increased from EUR 4.2 million to EUR 4.5 million. Other operating expenses increased by 13.7 percent to EUR 2.1 million (previous year: EUR 1.9 million). Furthermore, funds from operations (FFO), as an indicator of the company’s operating cash inflows, increased by 15.3 percent year-on-year from EUR 1.83 to EUR 2.11 per share.

A look at the balance sheet shows how solidly VIB Vermögen is positioned: Equity reached around EUR 762.0 million on December 31, 2021 (December 31, 2020: EUR 625.2 million). The equity ratio on the balance sheet date 2021 was 47.4 percent (December 31, 2020: 43.0 percent).

Thirteenth consecutive dividend increase planned
In order to allow shareholders to participate in the excellent results in fiscal year 2021, the Managing and Supervisory Boards are planning to propose the thirteenth consecutive increase in the dividend to VIB Vermögen AG’s General Meeting. It is to increase by EUR 0.10 year-on-year to EUR 0.85 per share.

“We are very pleased that, despite the more difficult conditions caused by the pandemic, we once again succeeded in further increasing all key figures in the past fiscal year and achieving a record result. We have thus impressively demonstrated that our business model allows us to grow profitably and crisis-resistant on a sustained basis, and that the company is excellently positioned for the future,” commented Holger Pilgenröther, CFO of VIB Vermögen AG.

Forecast 2022 foresees further growth
Revenues are expected to reach between EUR 103 and EUR 109 million in fiscal 2022. Operating EBT adjusted for valuation and special items is expected to increase to between EUR 67 and EUR 71 million. The operating cash flow FFO is expected to increase to between EUR 58 and EUR 62 million in fiscal 2022. Possible negative consequences due to the spread of the Corona virus were taken into account in the planning on the basis of the current state of knowledge.

The Company will publish its final results for 2021 fiscal year together with the Annual Report 2021 on April 27, 2022. A corporate presentation with further details on the preliminary 2021 financial results is available at www.vib-ag.de.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert                                Tel. : + 49 (0)8431 9077-952
Tilly Park 1                                     Fax: + 49 (0)8431 9077-929
86633 Neuburg/Danube                E-Mail: ed.ga-biv@trehceir.artep

Profile of the VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specializing in the management of commercial real estate portfolios, which has been operating successfully for 25 years. The focus is on properties in the logistics/light industry and retail sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy: On the one hand, VIB acquires properties that have already been let, and on the other hand, it develops new properties from scratch in order to take them over permanently into its own portfolio and generate rental income from them. In addition, VIB holds interests in companies with real estate assets.

Corporate News

VIB Vermögen AG starts marketing the “NEXT HORIZON” development project with around 79,000 sqm of commercial space in Erding

Neuburg/Donau, February 15, 2022 – VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, was able to obtain the building permit for the highly attractive 215,000 sqm site in Erding last year. The marketing of the space is now being launched exclusively with CBRE.

The property has good access to various motorways, and Munich Airport can be reached in around 15 minutes. The construction of around 79,000 sqm of lettable space is planned on the site. The commercial space is suitable for a wide variety of uses. Two office buildings with a total lettable area of around 15,700 sqm are planned, as well as six construction sites with building areas ranging from 2,100 to 30,300 sqm. NEXT HORIZON will be an area that can be 100% adapted to the individual needs of each user. The properties will be built according to the specifications required to achieve the DGNB Gold sustainability certificate, which VIB has received in the past for several of its self-developed properties. The company will meet the requirements with regard to electric mobility by constructing a multi-storey car park that has a staged concept for the installation of electric charging points.

The NEXT HORIZON project development opens up new construction perspectives and continues the series of highly regarded logistics properties of the leading German project developer VIB Vermögen. These include, for example, the double-decker lighthouse project in Ingolstadt’s Interpark whose usable building space of around 115,000 sqm has been leased long-term to Audi and VW since December 2020. Also implemented as an in-house development with well-known tenants was a distribution center near Augsburg, which will be used by Amazon on a long-term basis.

“The conditions in Erding offer us great opportunities to address a very broad target group. We can offer attractive, modern and sustainability-oriented space for local or national medium-sized companies through to global players from the life science, e-mobility, production, mechanical engineering, biotech or research and development sectors,” explained Martin Pfandzelter, CEO of VIB Vermögen AG.

Detailed information about the project can be found at https://next-horizon.exclusively-by-cbre.com/.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel. : + 49 (0)84319077 -952
Tilly Park 1 Fax: + 49 (0)84319077 -929
86633 Neuburg/Danube E-mail: ed.ga-biv@trehceir.artep

Profile of the VIB Vermögen AG

VIB Vermögen AG is a medium-sized company that specialises in holding commercial properties and has now been operating successfully for two5 years. The focus is on properties in the logistics/light industry and retail sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy: on the one hand, VIB acquires properties that are already let, and on the other hand, it develops new properties from scratch in order to take them over permanently into its own portfolio and to generate rental income from them. In addition, VIB holds interests in companies with real estate assets.

Corporate News

VIB Vermögen AG continues to reject the unsolicited offer from DIC Asset AG

Neuburg/Danube, February 10, 2022 – Yesterday, DIC Asset AG (“DIC”) published its offer document in relation to the unsolicited partial public offer to acquire shares in VIB Vermögen AG (“VIB”) for EUR 51.00 in cash.

With its partial offer that is only attributable to approximately 23.5% of the outstanding share capital of VIB, DIC is aiming to gain control of VIB. The Management Board and Supervisory Board of VIB continue unanimously to recommend its shareholders to reject the offer price of EUR 51.00 per share as it contains no customary premium for control. The offer price does not reflect the growth potential resulting from VIB’s positioning and the persistently positive market trend for logistics properties. VIB has built a unique portfolio of logistics and industrial real estate with a focus on Southern Germany. The company’s focus over many years and the resulting expertise as a project developer for attractive logistics properties have enabled it to grow profitably on a sustained basis. The development pipeline is well filled, which means that a profitable growth of VIB is secured on a stand-alone basis. In the offer document, DIC does not outline any strategic advantage or added valued in a controlling shareholding for VIB, which is also not seen by the Management Board and the Supervisory Board for the shareholders of VIB.

The offer price is at a discount of EUR 2.20 to VIB’s closing share price (XETRA) on February 9, 2022 (EUR 53.20) and represents a premium on the VIB share price of January 28, 2022 (EUR 49.10) of only 3.9%.

The Management Board and Supervisory Board of VIB will not recommend the acceptance of an offer priced at EUR 51.00 per share and will further detail its recommendation not to accept this offer in a separate statement. In the meantime, VIB alerts its shareholders that a withdrawal right for tendered shares is explicitly excluded in the offer document. Shareholders are asked to continue their support of the Management Board and Supervisory Board of VIB and await publication of its statement.

VIB is advised by Rothschild & Co as financial adviser and SZA Schilling, Zutt & Anschütz as legal adviser.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel. : + 49 (0)84319077 -952
Tilly Park 1 Fax: + 49 (0)84319077 -929
86633 Neuburg/Danube E-mail: ed.ga-biv@trehceir.artep

Profile of the VIB Vermögen AG

VIB Vermögen AG is a medium-sized company that specialises in holding commercial properties and has now been operating successfully for 25 years. The focus is on properties in the logistics/light industry and retail sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy: on the one hand, VIB acquires properties that are already let, and on the other hand, it develops new properties from scratch in order to take them over permanently into its own portfolio and to generate rental income from them. In addition, VIB holds interests in companies with real estate assets.

Corporate News

VIB Vermögen AG sees strong independent positioning in the German logistics market and no advantage from a majority holding by DIC Asset AG

Neuburg/Donau, February 2, 2022 – The Management Board and Supervisory Board of VIB Vermögen AG (VIB) have taken note of DIC Asset AG’s (DIC) intention to make a voluntary partial public offer to acquire the majority of shares in VIB Vermögen AG in return for a cash payment of EUR 51.00 per share. This would represent a premium on the VIB share price of January 28, 2022 (EUR 49.10) of only 3.9 %.

According to the opinion of the Management Board and Supervisory Board, this offer in no way reflects the growth potential resulting from VIB’s positioning and the persistently positive market trend for logistics properties. The company’s focus over many years and the resulting expertise as a project developer for attractive logistics properties have enabled it to grow profitably on a sustained basis. The development pipeline is well filled, which means that VIB’s growth is also secured in the future. Therefore there is a good chance of a positive development in the value of the company, which is after all in the interests of the shareholders. For these reasons, the Management Board and Supervisory Board currently see no strategic advantage or added value in a majority holding by DIC.

“The intended takeover bid only insufficiently reflects the strong business growth, the positive market development for logistics properties and the associated medium-term value potential for our company,” says Martin Pfandzelter, CEO of VIB Vermögen AG. “Furthermore, we do not see any additional synergies from a majority holding by DIC,” he adds.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel. : + 49 (0)84319077 -952
Tilly Park 1 Fax: + 49 (0)84319077 -929
86633 Neuburg/Danube E-mail: ed.ga-biv@trehceir.artep

Profile of the VIB Vermögen AG

VIB Vermögen AG is a medium-sized company that specialises in holding commercial properties and has now been operating successfully for 25 years. The focus is on properties in the logistics/light industry and retail sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy: on the one hand, VIB acquires properties that are already let, and on the other hand, it develops new properties from scratch in order to take them over permanently into its own portfolio and to generate rental income from them. In addition, VIB holds interests in companies with real estate assets.

Corporate News

VIB Vermögen acquires property of around 41,000 sqm in Ingolstadt for project development

Neuburg/Danube, January 11, 2022 – VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, is expanding its property pipeline by around 41,000 sqm with the purchase of a fully developed plot in a prime location in Ingolstadt.

In addition to a plot of land of around 10,000 sqm already in the company’s portfolio, VIB Vermögen was able to acquire a further property with a size of around 41,000 sqm. Under the umbrella of a joint venture, in which VIB Vermögen holds a 74 percent stake, the two plots will be combined and completely redesigned. As a result, lettable space in the order of around 25,000 sqm is expected to be developed on the combined plot. The location is very well suited for any kind of use by the logistic or light industry due to the very good connection to the highway A 9, one of the main traffic arteries in Bavaria.

“The acquisition of land has become one of the great challenges for real estate companies. We are all the more pleased that we have been able to acquire a plot from our existing network that meets our criteria particularly well,” said Martin Pfandzelter, CEO of VIB Vermögen AG.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel. : + 49 (0)8431 9077-952
Tilly Park 1 Fax: + 49 (0)8431 9077-929
86633 Neuburg/Danube E-mail: ed.ga-biv@trehceir.artep

Profile of the VIB Vermögen AG

VIB Vermögen AG is a medium-sized company that specializes in holding commercial real estate and has been operating successfully for more than 25 years. The focus is on properties in the logistics/light industry and retail sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy: On the one hand, VIB acquires properties that have already been let, and on the other hand, it develops new properties from the ground up in order to incorporate these permanently into its own portfolio and to generate rental income from them. In addition, VIB holds interests in companies with real estate assets.

Corporate News

Joint Venture VIB/WDP rents out 46.000 sqm in Gelsenkirchen

Neuburg/Donau, December 16, 2021 – WVI, the joint venture of VIB Vermögen AG and WDP, a Belgian logistics real estate company, has fully rented out its own development on the site in Gelsenkirchen on a long-term basis.

The property, which is still partly under development, will be used by two internationally established companies to house their logistics centres. Construction of the approximately 46,000 sqm state-of-the-art facility began in early 2021 and is WVI’s first construction project following the acquisition of the Bottrop multi-tenant site in autumn 2020.

The first construction phase with an area of 20,000 sqm was completed on December 1, 2021 and has already been handed over to the tenant, a global logistics company. The second construction phase is currently under development and is scheduled for completion by mid-2022. The company has also signed a lease with a German wholesaler and distributor of high-quality cat and dog snacks for this property, which has 26,000 sqm of lettable space, prior to completion.

Professional expansion ready for growth
WVI’s future ambitions will be supported by the hiring of a dedicated Business Development Manager, who will be responsible for the development and growth of the Joint Venture. The Business Development Manager will operate from a newly installed WVI office based in North Rhine-Westphalia.

“We are very pleased with the pre-letting of the joint venture’s first project development, which underlines the importance of North Rhine-Westphalia as a leading logistics location.”

Martin Pfandzelter – CEO, VIB Vermögen AG

“In addition to the acquisition in Bottrop, WVI can now expand its real estate portfolio with a brand new, fully pre-let logistics location. We are convinced of the prospering dynamics on the German logistics real estate market and look forward to serving additional clients in the future.”

Joost Uwents – CEO, WDP

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel. : + 49 (0)8431 9077-952
Tilly Park 1 Fax: + 49 (0)8431 9077-929
86633 Neuburg/Danube E-mail: ed.ga-biv@trehceir.artep

Profile of the VIB Vermögen AG

VIB Vermögen AG is a medium-sized company that specializes in holding commercial real
estate and has been operating successfully for more than 25 years. The focus is on properties in the logistics/light industry and retail sectors in the economically strong southern German
region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy: On the one hand, VIB acquires properties that have already been let, and on the other hand, it develops new properties from the ground up in order to incorporate these permanently into its own portfolio and to
generate rental income from them. In addition, VIB holds interests in companies with real estate assets.

Corporate News

VIB with successful follow-up leasing in three properties from the retail and logistics sectors

Neuburg/Danube, November 17, 2021 – VIB Vermögen AG, a company specializing in the development, acquisition and portfolio management of commercial real estate, has concluded rental agreements for a total of 16,000 sqm in properties in Ingolstadt, Nuremberg and Regensburg.

In the Donau City Center in Ingolstadt, 2,200 sqm of retail space have been leased on a long-term basis to two tenants with strong credit ratings. Until the end of 2021 the site will be used as a vaccination center.

In Nuremberg, an existing space of around 3,500 sqm was leased to a renowned fitness chain for a term of 10 years. This space will be used by the current tenant until the end of the year and then converted for the new purpose.

For a logistics property in Regensburg with an area of 10,250 sqm, a lease agreement was concluded with a regional logistics company for a term of 10 years.

“We are delighted that we have been able to seamlessly follow up leases for space that has become available in both the retail and logistics sectors,” said Martin Pfandzelter, CEO of VIB Vermögen AG. “In this regard, we can both draw on our existing tenants and acquire new tenants as business partners.”

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel.: +49 (0)8431 9077 952
Tilly-Park 1 Fax: +49 (0)8431 9077 929
86633 Neuburg/Danube, Germany Email: ed.ga-biv@trehceir.artep

About VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 25 years. It focuses on properties from the logistics/light industry and retail sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.

Corporate News

VIB Vermögen significantly increases nine-month results in 2021

– Revenue increases by 9.9 percent to EUR 77.4 million in the first nine months 2021

– Adjusted EBT grows by 15.7 percent to EUR 50.4 million

– FFO increases by 15.9 percent to EUR 44.1 million

– Guidance for the full year 2021 reconfirmed by the Management Board

Neuburg/Danube, November 10, 2021 – VIB Vermögen AG, a company specializing in the development, acquisition and portfolio management of commercial properties, continued its profitable growth path in the third quarter of 2021. Revenues increased by 9.9 percent year-on-year in the first nine months of 2021 from EUR 70.4 million to around EUR 77.0 million. EBT adjusted for valuation effects and special items increased by 15.7 percent to EUR 50.4 million (9 months 2020: EUR 43.5 million). Consolidated net income rose by 7.2 percent year-on-year to EUR 49.7 million.

During the reporting period, the impact of the Corona crisis was less than in the previous year: as of September 30, 2021, the rent waivers due to the economically tense situation at some tenants amounted to only EUR 258 thousand, compared to EUR 376 thousand in the same period of the previous year.

Rentable area of the profitable portfolio expanded
At the end of March, two new logistics properties in Eslarn and Interpark near Ingolstadt were added to the portfolio, followed by an office complex in Regensburg at the end of April. At the end of September, a retail park in Aalen was sold for the purpose of portfolio optimisation.

As of the reporting date of 30 September 2021, the real estate portfolio thus consisted of a total of 113 properties with a total lettable area of around 1.3 million square metres. The vacancy rate remained at a pleasingly low level of 1.2 percent.

Further increase in key operating figures achieved
The portfolio generated an operating cash inflow from letting (funds from operations) of EUR 44.1 million in the period under review – representing an increase of 15.9 percent on the previous year. Accordingly, FFO per share increased by 22 cents to EUR 1.60. The so-called NRV (Net Reinstatement Value – a key figure of the European Public Real Estate Association EPRA for portfolio-holding real estate companies) rose in the nine-month period to EUR 764.2 million (previous year: 727.9 million euros). Accordingly, the NRV per share increased from EUR 26.39 to EUR 27.58.

Sustainability reporting receives multiple awards
After VIB’s sustainability reporting was awarded gold by EPRA for the second time, it was also well received by analysts using the international GRESB (Global Real Estate Sustainability Benchmark) rating benchmark for real estate companies and funds. According to this, VIB Vermögen was able to improve its D-rating from 2020 to a B-rating, thus achieving the second-highest level.

“We are very pleased that, in addition to the sustained positive economic growth, our successes in terms of sustainability are now also increasingly being noticed and honored by awards from external, internationally recognized experts,” says Martin Pfandzelter, CEO of VIB Vermögen AG.

Due to the very stable positioning of the company and the business performance to date, the Executive Board confirms the guidance for the current fiscal year 2021 given in the Annual Report 2020.

The complete interim statement for the third quarter of 2021 is available at www.vib-ag.de.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel. : + 49 (0)8431 9077-952
Tilly Park 1 Fax: + 49 (0)8431 9077-929
86633 Neuburg/Danube E-mail: ed.ga-biv@trehceir.artep

Profile of the VIB Vermögen AG

VIB Vermögen AG is a medium-sized company that specializes in holding commercial realestate and has been operating successfully for more than 25 years. The focus is on properties in the logistics/light industry and retail sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy: On the one hand, VIB acquires properties that have already been let, and on the other hand, it develops new properties from the ground up in order to incorporate these permanently into its own portfolio and to generate rental income from them. In addition, VIB holds interests in companies with real estate assets.

Corporate News

VIB Vermögen AG optimizes portfolio by selling the “Kinopark” cinema/retail park in Aalen

Neuburg/Danube, October 1, 2021 – VIB Vermögen AG, a company specializing in the development, acquisition and portfolio management of commercial properties, continues to persue its strategy of selective portfolio optimization in the retail segment with the sale of the “Kinopark” cinema/retail park in Aalen.

The property is a 10,200 square metres retail park with the Aalen cinema and Norma as anchor tenants. The purchaser is SWT Immobilien Verwaltungs GmbH from Rain/Lech. The parties have agreed not to disclose the purchase price.

“We are delighted to have found an experienced retail property portfolio holder in SWT, which will successfully further develop the location in the long term,” explained Martin Pfandzelter, CEO of VIB Vermögen AG. “This transaction once again demonstrates the high value of our regional network for buying and selling properties.”

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel.: +49 (0)8431 9077 952
Tilly-Park 1 Fax: +49 (0)8431 9077 929
86633 Neuburg/Danube, Germany Email: ed.ga-biv@trehceir.artep

About VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 25 years. It focuses on properties from the logistics/light industry and retail sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.