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At home with Vesteda

Foreword by the Management Board

Dear stakeholders,

It is our pleasure to present you with our annual report for 2020. In this report, we account for our financial and non-financial performance in 2020 and we report on how we intend to realise our ambitions for the future. We would also like to share our vision of the Dutch housing market and the role we want to play as an active and socially-engaged residential real estate investor. But let us first start with the COVID-19 pandemic, which affected most of our stakeholders in 2020.

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Rediscovering your ‘home’

Staying at home for months at a time is no fun for anyone. Not in any situation and not at any age. But COVID-19 has also taught us a lot. You start to see and experience everything differently. Your home, your environment, your work, your family. Even going to the shops is no longer routine. You could get annoyed by it all, but you can also choose to deal with it differently. Our house and this neighbourhood have helped a lot. We always thought it was a nice house and a pleasant neighbourhood, but we’ve started to appreciate it all even more because of COVID-19. The space inside, with separate rooms for the kids, the large garden, the play areas outside and the schools and the sports fields more or less within walking distance. It’s a neighbourhood where people tend to know each other. That doesn’t just make it pleasant, it also makes it safe. We like to go on holiday, but we also always really enjoy coming home. We’re certainly not thinking about moving any time soon. Maybe when the kids have left home. And who knows, we might well rent from Vesteda again.

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Our portfolio

By type of residential unit
Number of residential units 27,482
By rental segment
Investment portfolio value €8.2 bln
By region
Occupancy rate 97.5%
By energy labels
Gross rental income €335 mln

‘Gym’ in the living room

COVID-19 has obviously had a major impact on my work and life as a senior school sports teacher. The only ‘lucky’ thing, if you can call it that, is that I am still single. So it was easy for me to work from home. I cleared part of my living room and turned it into an exercise space, so I can show my pupils a variety of exercises ‘on the square metre’, so to speak, with things that everyone will have lying around the house. So COVID-19 has had little impact on my quality of life. I live in a spacious apartment, in a neighbourhood that is a pleasant mix in terms of age and lifestyles. And everything I need is need is nearby. The only thing that’s lacking is a private parking space. But I don’t miss that either. If I ever need a car, I rent one. And nowadays, some rental complexes even have their own car rentals, Vesteda’s too. Very easy and environment-friendly. I’m glad that Vesteda is also thinking about the future.

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Pipeline

Frank is een Binck – The Hague
Regent II – The Hague
Goudshof - Gouda

Additions to the portfolio

Noorderhaven - Zutphen
Toren - Hoorn
Willemsbuiten - Tilburg

Handy neighbours

This home truly makes me happy. This is the place I’ve been looking for all along. It feels like home and because I am renting I also feel completely free. What else can you ask for? I’ve also been lucky with my neighbours. On one side, there is a divorced father with his 16-year old son, and on the other side is a young couple who both work. So it’s always quiet during the week, although it can get a little noisier at the weekends. Another benefit is that both men are really handy, so if something needs fixing all I have to do is ask and they come and do it for me. The home was entirely ready to move in though, from laminate flooring to paintwork. All I had to do was bring my furniture in. And Vesteda also made sure the sign-up, viewing and transfer of the keys were easily arranged. As far as I’m concerned, the slogan ‘Feel at home with Vesteda’ is no empty promise.

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Facts and figures

Tenant satisfaction
7.1

Ambition to become the best landlord in the Netherlands

Pipeline
€426 mln

1,243 units in pipeline

Total expense ratio
32 bps

Internally managed fund with efficient cost structure

Leverage
23.1 %

Average interest rate: 1.9% Solid funding structure

Credit rating
BBB +

Rated by Standard & Poor's Attractive risk profile

Sustainability
★★★★★

5 stars GRESB rating #3 ranking

Committed to remaining a top player in the field of sustainability

The joys of a courtyard garden

My husband died two years ago and I moved to this apartment shortly after. I’d always said I wouldn’t want to stay behind in that big house by myself. Thankfully, I’d already settled in a bit when the COVID-19 outbreak happened. So I at least know my closest neighbours, and a young man who lives on the same floor does my shopping once a week. What I particularly like at this time is the courtyard garden of this complex. This is somewhere I can spend time outside a few times a day, or take a walk and have a chat with someone. At a distance, of course, and with a face mask on. And with all the facilities close by, I don't have to use public transport either. That also helps me stay mobile. I'm glad I took this step. And with Vesteda as my landlord, I hope to enjoy living here for many years to come.

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