VIB Vermögen AG
Neuburg/Donau

Public Disclosure of Inside Information pursuant to Article 17 Regulation (EU) No 596/2014

VIB Vermögen AG announces first preliminary figures for 2021 fiscal year -rejection of partial acquisition offer from DIC Real Estate Investments GmbH & Co. KGaA

Neuburg/Donau, February 23, 2022 - VIB Vermögen AG ("VIB"), ISIN: DE000A2YPDD0, announces first preliminary figures for the fiscal year 2021 and the planned dividend proposal. The Management Board and the Supervisory Board of VIB have confirmed the rejection of the public partial acquisition offer of DIC Real Estate Investments GmbH & Co. KGaA ("DIC"), a subsidiary of DIC Asset AG, to the shareholders of VIB.

Increase in results in 2021 fiscal year

Based on internal preliminary financial figures, VIB closed the 2021 financial year with increased results. Revenues rose by 10.2 per cent from EUR 94.2 million to EUR 103.8 million based on increasing rental income from completed development projects. Due to scaling effects and further savings in interest expenses, adjusted earnings before taxes (EBT) and funds from operations (FFO) rose disproportionately to revenue growth to EUR 66.7 million (+15.6 percent) and EUR 58.4 million (+16.0 percent), respectively.

Planned increase of dividend to EUR 0.85 per share

Based on the expected results for 2021 fiscal year, VIB's Management Board and Supervisory Board are planning to propose a dividend increase to the General Meeting: A dividend of EUR 0.85 per share, which is an increase of EUR 0.10 or 13.3 percent, shall be paid for the past fiscal year (previous year: EUR 0.75 per share).

Positive outlook

VIB expects further organic growth based on its existing development pipeline of logistics and light industrial properties. The Management Board expects rental income of around EUR 14 million on completion for the six development projects that are currently under implementation alone, which corresponds to a rental return of between six and seven percent based on investment costs of around EUR 220 million.

Rejection of the partial acquisition offer from DIC confirmed

VIB takes note of the announcement by DIC Asset AG that it has increased its shareholding in VIB to over 30 percent through purchases outside of DIC's voluntary public partial acquisition offer. VIB's Management Board and Supervisory Board confirm their recommendation to reject the voluntary public partial offer from DIC. The complete joint statement of the Management Board and the Supervisory Board is expected to be published on the company's website on February 24, 2022.

Note on the use of alternative performance measures

This publication contains supplemental financial measures that are not clearly defined in accordance with IFRS, HGB or other generally accepted accounting principles and are or may be so-called alternative performance measures ("APMs"). VIB presents APMs, such as adjusted earnings before tax (EBT) and funds from operations (FFO), as these measures are used by the Management Board for monitoring, commercial planning and managing the development of the business, and the Management Board believes that these measures provide a more comprehensive understanding of the underlying results and associated trends. Adjusted EBT is a performance indicator in terms of measuring the company's earnings position. It is adjusted for one-off factors and valuation effects to improve comparability of earnings between the reporting periods. FFO is an indicator in terms of the operational development of VIB's property portfolio. In order to assess VIB's net assets, financial position and results of operations, these supplemental financial measures should not be considered in isolation or as a substitute for analysis of the financial measures presented in the consolidated financial statements and determined in line with IFRS, HGB or other generally accepted accounting principles. Other companies that report or describe similarly titled APMs may calculate them differently. VIB has defined each of the following APMs as follows:

- Adjusted EBT (earnings before income tax excluding valuation effects and extraordinary items) is calculated from EBITDA (earnings before interest, tax, depreciation and amortisation) by deducting depreciations, amortisation and deducting / adding the financial result.

- FFO (funds from operations) can be derived from EBIT (earnings before interest and tax). In addition, the calculations do not take into account potential property-related valuation effects, non-cash expenses and income as well as extraordinary effects. Furthermore, depreciations are added, the financial result, effective income tax and the non-controlling shareholders' share of earnings adjusted for valuation effects are deducted.

The company's annual reports are available at https://www.vib-ag.de/en/investor-relations/financial-reports.

Contact:

Petra Riechert
Head of Investor Relations
[email protected]
+49 (0) 8431 9077 952

Important notice

This publication is for information purposes only and neither constitutes an invitation to sell nor an offer to purchase securities.

To the extent this publication contains forward-looking statements, such statements do not represent facts and are characterized by the words "will", "expect", "believe", "estimate", "intend", "aim", "assume" or similar expressions. Such statements express the intentions, opinions or current expectations and assumptions of VIB Vermögen AG and the persons acting together with VIB Vermögen AG. Such forward-looking statements are based on current plans, estimates and forecasts, which VIB Vermögen AG and the persons acting together with VIB Vermögen AG have made to the best of their knowledge, but which they do not claim to be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and usually cannot be influenced by VIB Vermögen AG or the persons acting together with VIB Vermögen AG. These expectations and forward-looking statements can turn out to be incorrect and the actual events or consequences may differ materially from those contained in or expressed by such forward-looking statements. VIB Vermögen AG does not assume any obligation to update such forward-looking statements or to adjust them to future events or developments.