COMPANY PRESENTATION July 2015 STRATEGY AND GUIDANCE Company Profile Leading Investor and Developer of High-Quality Offices in Central Europe COMPANY PROFILE . Largest listed office real estate player in Central Europe . Exposure to high-quality core offices in stable and growing markets of Germany Poland Germany and Austria combined with high growth capital cities in CEE Czech Republic . Highly stable and resilient yielding portfolio diversified across key economic centres Berlin, Frankfurt, Munich, Vienna, Warsaw, Prague, Budapest and Bucharest Austria Hungary . Blue chip tenant-driven development business in Germany as major organic growth driver Romania . Strong capital base with defensive financing ratios PORTFOLIO BY REGION (€ M) PORTFOLIO BY COUNTRY KEY METRICS Gross Asset Value (GAV) € 3.4 bn 7% Austria 661 6% 19% 20% Germany Net Asset Value (NAV) € 1.9 bn 1,310 8% Poland 38% Austria 7% Portfolio Yield 6.6% Romania Germany 11% Hungary Portfolio Occupancy 91% 1,443 CEE 42% 42% Czech Republic Loan-to-Value (LTV) 35% Other* Market Cap € 1.6 bn 3 All figures as at 31 March 2015, unless otherwise stated * Slovakia, Serbia, Bulgaria, Slovenia, Croatia, Ukraine Strategy Company Transformation Well Under Way Strategy 2012-2015 Strategy 2015-2017 2012 2015* 2017 GAV Portfolio € 4.8 bn € 3.4 bn € 3.9 bn thereof income-producing 83% 85% 95% Office Share/Investment Portfolio 79% 79% 90% Economic Vacancy 13.3% 9.1% < 9% Equity ratio 30% 52% 50% Net Loan-to-Value (LTV) 60% 35% 45% Average Cost of Debt 4.5% 3.5% 3.0% Recurring FFO € 31 m € 80 m > € 100 m ROE 3% 4.5% > 7% STRATEGIC AGENDA 2012-2015 STRATEGIC AGENDA 2015-2017 . Improved platform efficiency: Streamlined corporate structure, reduced . Conclude disposals of non-core assets: Sale of non-office use and sub- minority interests, and cut of administrative costs by 20% scale assets in core markets, sale of non-strategic landbank in Germany . Enhanced portfolio focus: Substantial reduction of non-core assets (CEE . logistics), increased core office focus and higher portfolio occupancy Replace non-strategic assets with core properties: Development and transfer of core offices to the investment portfolio in Germany, buy-out of . Improved financial profile : Substantial balance sheet improvement, JV partners in CEE, selective property acquisitions in Austria and CEE simultaneous increase of recurring net income (higher earnings quality) . Deconsolidation of JVs following new reporting standards . Optimize financing structure: Further reduce long-term financing costs * Metrics as at March 31, 2015; Recurring FFO based on FY 2015 guidance 4 Strategy 2015-2017 Company Targets 2015 STRATEGIC/OPERATIONAL TARGETS 2015 FINANCIAL TARGETS 2015 . Property disposals . Funds from Operations (FFO) . Target sales volume € 150-200 m (excl. CEE logistics closed in 1Q) . (Recurring) FFO I target € 80 m (14% uplift vs. FFO I FY 2014) . Continued progress on non-strategic assets sales . FFO II target > € 100 m . Property development . Dividend . Transfer of 3 German core developments into investment portfolio . Payout target 2015 € 0.50 per share . Start of 2 new projects in Germany . FFO I payout range of c. 60-65% based on 2015 FFO I guidance . Mid-term guidance 2.5% of Net Asset Value (NAV) . Property investments . Replace non-strategic assets by core office properties Guidance uplift by 25% yoy (2014: 2% of NAV) FFO I (€ M): FURTHER INCREASE RECURRING CORE INCOME DIVIDEND (€/SHARE): MAINTAIN PROGRESSIVE PAYOUT POLICY 90 0.60 80 0.55 70 0.50 60 50 0.45 40 0.40 30 0.35 20 22 31 63 70 80 0.38 0.38 0.40 0.45 0.50 10 0.30 2011 2012 2013 2014 2015p 2011 2012 2013 2014 2015p 5 Strategy 2015-2017 Portfolio Growth Towards € 4 bn in 2017 GROWTH STRATEGY 2015-2017 BOOSTING THE RECURRING PROFITABILITY OF CA IMMO . Core office portfolio expansion in existing core cities in Central Europe . Replacement of remaining non-core assets . Further increase of platform strength and competitive position . Conversion of non-incoming producing assets into yielding assets PORTFOLIO GROWTH BY DEVELOPMENT PORTFOLIO GROWTH BY ACQUISITIONS . Organic portfolio growth in Germany through . Selective property acquisitions in core core office developments with high-quality markets outside Germany tenants . Investment parameter . Development starts 2015 . Located in core city of CA Immo to . Baufeld 03/KPMG, Berlin (2H 2015) Warsaw strengthen existing platform . Mannheimer Straße, Frankfurt (2H 2015)* Berlin Frankfurt Prague . Potential to crystallize value through local . Development metrics 2015-2017 Munich asset management expertise Vienna . Targeted development volume € 500 m . EBRD JV Buy-out (incl. project completions 2015 of € 235 m) Budapest . Core office portfolio in Prague, Budapest . Average yield on cost approx. 6% and Bucharest co-owned by CA Immo and . Rental income additions € 27-30 m Bucharest EBRD . Average financing costs approx. 1.5% . Negotiations to buy EBRD’s minority stake . LTV 50-60% successfully concluded in July 6 * In planning stage Strategy 2015-2017 German Development Major Organic Growth Driver and Key Differentiator WELL POSITIONED TO DRIVE GROWTH RENTAL INCOME SPLIT BY SOURCE GERMAN LAND RESERVES (€ 349 M) . Top 3 office developer in supportive German market with strong track record of blue chip tenant projects 4% 24% . Average rental returns greater than competing in 23% Berlin booming investment market 35% Frankfurt . Highly valuable land reserves in inner-city locations Munich . Substantial development surpluses value-added 76% Own development 38% Other . In-house construction managment subsidiary (omniCon) Other ensures high quality standards LARGEST DEVELOPMENTS BY INVESTMENT VOLUME WITH PRE-LETS AND MAJOR TENANTS 100% 500 90% 100% 100% 100% 100% 450 80% 400 70% 350 60% 70% 300 50% 60% 250 55% 40% 53% 54% 200 48% 47% 30% 40% 42% 42% 150 20% 100 10% 50 0% 0 Tower 185 Skyline Skygarden Atmos Kontorhaus Nord 1 Intercity John F. Mercedes Tour Total KPMG Ambigon Belmundo Monnet 4 (FRA) Plaza (MUC) (MUC) (MUC) (FRA) Hotel (BER) Kennedy - Benz (BER) (BER) (MUC) (DUS) (BER) (FRA)* Haus (BER) Vertrieb Total investment volume (€ m), rhs Pre-let (construction start), lhs (BER) 7 All figures as at 31 March 2015, unless otherwise stated * JV with ECE PORTFOLIO Property Portfolio Attractive Portfolio Mix, Germany Accounts for Largest Single Market Share PORTFOLIO STRUCTURE INVESTMENT PORTFOLIO BY COUNTRY AND OWNERSHIP (€ M) . Total property asset base of € 3.4 bn (thereof assets fully 1,000 900 owned € 2.6 bn, the remainder held in joint ventures) 179 800 700 0 . Landbank and development assets account for around 600 15% of total property assets 500 400 773 . Investment portfolio (yielding assets) 300 637 77 200 98 . Highly stable and resilient portfolio in CE key cities 286 105 64 100 182 157 144 100 34 . Diversified and high credit quality tenant base 0 Austria Germany* Poland Hungary Romania Czech Other** Republic . € 2.15 bn of assets fully owned*, € 680 m held in joint Assets fully owned Assets held at equity (CAI proportionate share) ventures and consolidated at equity (pre EBRD buy-out) PORTFOLIO BY PROPERTY TYPE (€ 3.4 BN) PORTFOLIO BRIDGE (€ BN) 2% 3% 4.0 3.5 0.1 0.1 0.4 12% 3.0 2.5 Investment properties 2.0 3.4 1.5 2.8 Landbank 1.0 0.5 Active development projects 0.0 Investment Landbank Active Properties held for Property portfolio 83% Properties held for properties development sale sale/trading projects 9 All figures as at 31 March 2015, unless otherwise stated * Excl. Kontorhaus Munich development (in completion stage) ** Slovakia, Serbia, Bulgaria, Slovenia, Croatia Investment Portfolio 80% of Yielding Assets located in Key Economic Centres of Central Europe CORE CITIES GAV (€ m) % Rent (€ m)* % Vienna 505 18% 29.4 16% Munich 286 10% 14.7 8% Frankfurt 192 7% 13.0 6% Berlin 276 10% 17.1 9% Warsaw 352 12% 26.5 14% Prague 192 7% 15.1 8% Budapest 270 9% 19.5 10% Bucharest 198 7% 16.9 9% Other 565 20% 37.8 20% Total 2,837 187.6 PORTFOLIO BY REGION (€ M) ANNUALIZED RENT (€ M) PORTFOLIO BY COUNTRY PORTFOLIO BY SECTOR Austria 0.6% 7% 3% 37 Germany Office 637 7% 7% 20% 22% 22% 7% Poland 6% Logistics 1,248 5% 95 Hungary 44% Austria 10% Retail 52% Austria 52 Romania Germany Hotel 952 28% Germany 13% 34% 34% Czech 79% Residential CEE Republic CEE Other Other All figures as at 31 March 2015, unless otherwise stated * Annualized 10 Investment Portfolio Austria PORTFOLIO METRICS TOP 10 TENANTS BY ANNUALIZED RENTAL INCOME 22% 5.8% Oesterreichische Post 10% Portfolio share Gross initial yield Verkehrsbuero 9% Robert Bosch 9% 44 96.9% IKEA 4% Yielding assets Economic occupancy UPC 3% € 637 m 4.7 years Peek & Cloppenburg 3% Portfolio value WALT C&A 2% ORF 2% 45% 55% 512,000 sqm € 37 m Unify 2% Lettable area Annualized rent dieBerater 2% Top 10 Tenants Other PORTFOLIO SPLIT BY VALUE MAJOR OFFICE ASSETS BY VALUE Rennweg/Mechelgasse, Vienna GalleriaErdberger, Vienna Laende , Vienna SilbermoeweSilbermoewe, Vienna , Vienna 12% 2% 17% 637 51% € m 18% Office Retail Hotel Residential Other 11 All figures as at 31 March 2015, unless otherwise stated Investment Portfolio Germany PORTFOLIO METRICS* TOP 10 TENANTS BY ANNUALIZED RENTAL INCOME 34% 5.7% PwC 22% Portfolio share Gross initial yield H&M 13% Total 7% 22 84.2% Land Berlin 7% Yielding assets Economic occupancy InterCity 5% € 952 m 8.7 years Bombardier 4% Portfolio value WALT Google 3% DLL 2% 66% 34% 446,000 sqm € 52 m Berlinovo 2% Lettable area Annualized rent DB BahnPark 2% Top 10 Tenants Other PORTFOLIO SPLIT BY VALUE MAJOR OFFICE ASSETS BY VALUE Skygarden, Munich Tower 185, Frankfurt Tour Total, Berlin 2% 8% 13% 952 € m 77% Office Logistics Hotel Other 12 All figures as at 31 March 2015, unless otherwise stated * Incl.