Comparison -
of indicators

¹⁾ Excluding private client business and former WestImmo’s local authority lending business.

¹⁾ Proposal to be submitted to the Annual General Meeting

²⁾ Based on the assumption that net interest payable on the AT1 bond is recognised on an accrual basis

¹⁾ Basel III fully loaded

²⁾ When calculating own funds, annual profits were taken into account, based on the Management Board‘s proposal for appropriation of profits for the 2019 financial year, and incorporating the pro-rata accrual of net interest payable on the AT1 bond. The appropriation of profits is subject to approval by the Annual General Meeting. The expected relevant impact of the TRIM exercise on commercial property financings, and of the SREP recommendations concerning the NPL inventory as well as the ECB's NPL guidelines for exposures newly classified as NPLs, were taken into account for determining regulatory indicators.

³⁾ Underlying estimate, given a 72.5 % output floor based on the final Basel Committee framework dated 7 December 2017. The calculation of the material impact upon Aareal Bank is subject to the outstanding EU implementation as well as the implementation of additional regulatory requirements (CRR II, EBA requirements etc.). For further details, please refer to the respective financial statements.

¹⁾ The allocation of earnings is based on the assumption that net interest payable on the AT1 bond is recognised on an accrual basis.

²⁾ Structured Property Financing segment; in line with common practice in the banking sector, bank levy and contributions to the deposit guarantee scheme are not included.

¹⁾ 2020: with regard to the takeover offer and the Investment Agreement entered with Atlantic BidCo GmbH, only € 0.40 per share of the intended € 1.50 was distributed in 2021. 2021: Proposal to be submitted to the Annual General Meeting to pay a dividend in a total amount of € 1.60 per share in 2022 for the financial year 2021, including the amount of € 1.10 per share not paid out in 2021.

²⁾ The allocation of earnings is based on the assumption that net interest payable on the AT1 bond is recognised on an accrual basis.

¹⁾ 31 December 2019: excluding dividend for 2019 from initial proposal on the appropriation of net retained profit and including a pro-rata temporis deferral of net interest on the AT1 bond 31 December 2020: including dividend for 2019 from initial proposal on the appropriation of net retained profit and less a proposed dividend of € 1.50 per share in 2021 and pro-rata temporis deferral of net interest on the AT1 bond. Dividend payments of € 1.50 for 2020 (to be effected in 2021) would need to be made in two steps. In compliance with the requirements published by the European Central Bank (ECB) on 15 December 2020, the distributable amount is calculated at € 0.40 per share.The Management Board plans to submit a corresponding proposal for the appropriation of profits to the ordinary Annual General Meeting in May 2021. Depending on further economic developments, regulatory requirements, the Bank’s capital position and its risk situation, an extraordinary Annual General Meeting, which could possibly take place during the fourth quarter of 2021, could then decide on the intended remaining payout of € 1.10 per share.

²⁾ Underlying RWA estimate, incorporating the higher figure determined using the revised AIRBA or the revised CRSA (phased-in), based on the final Basel Committee framework dated 7 December 2017; the calculation of the material impact upon Aareal Bank is subject to the outstanding EU implementation as well as the implementation of additional regulatory requirements (CRR II, EBA requirements etc.). The Bank’s Basel IV (fully phased-in) CET1 ratio stood at 13.2 % at the year-end (2019: 13.5 %).