Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697805728244.pdf (Ireland)
NAMA Business Update to Oireachtas Committee of Public Accounts 8th October 2020 NAMA.ie NAMA Key Objectives Focused on completing our mandate successfully Generating a Surplus Residential Delivery Strategic Development Zones All NAMA’s debt and equity obligations have been repaid in full.

Subject to commercial viability, facilitate the delivery of up to 20,000 residential units in Ireland.

Facilitate the delivery of key Grade A office, retail and residential space within the Dublin Docklands SDZ.
Return the largest possible surplus to the taxpayer.

€2 billion transferred in 2020.

Maximise the number of sites that are shovel-ready for development.

Enable the commercial development of the Poolbeg West SDZ.

1 Key Financial Indicators 2019 NAMA.ie 2 Key Financial Indicators 2019 Profitable €265m profit after tax in 2019 (2018 profit: €795m).

NAMA’s profitability has enabled it to transfer €2 billion from its surplus to the Exchequer in 2020.
Cash Generation NAMA continues to generate significant cash through asset and loan disposal activity and non-disposal income.

€1.34 billion cash was generated in 2019.

Total cash generated from inception to date in excess of €45.3 billion.

Asset Sales & Income In 2019, NAMA realised proceeds of €1.2 billion from the sale of loans, property and other assets.

Total disposal receipts of €39 billion and non-disposal income of €6.3 billion from inception to end-2019.
3 Income Statement 2019 Net gains on debtor loans measured at FVTPL Net gains on investment properties Interest, fee and other income Net profit on disposal and refinancing of loans Net profit on disposal of property assets Other expenses (interest expense, FX and derivative financial instruments Administration expenses Total operating income Profit for the year before tax Tax charge Profit 2019 €m 230 74 29 5 39 (15) (67) 295 295 (30) 265 2018 €m 605 - 76 179 134 (15) (75) 904 904 (109) 795 4 Financial Position 2019 Assets Cash, cash equivalents and liquid assets Debtor loans measured at fair value through profit or loss Other assets Total assets Liabilities Other liabilities Total liabilities Total equity and reserves (including €1.06bn subordinated debt) Equity, reserves and liabilities 31 Dec 2019 €m 31 Dec 2018 €m 3,879 1,227 505 5,612 43 43 5,569 5,612 3,186 1,925 313 5,424 61 61 5,363 5,424 5 Remaining Portfolio – Dublin centric Geographic diversity of assets at 31 December 2019 3% Rest of ROI 7% Urban Centres 2% Rest of World 1% UK 13% Commuter Belt 19% Dublin South County 30% Dublin City 25% Dublin North County County Breakdown (ex Dublin) Wicklow Cork Kildare Meath Galway Waterford Sligo Wexford Other Limerick 7 counties €’m - 20 40 60 80 100 120 6 Remaining Portfolio – concentration of L&D Sectoral diversity of assets at 31 December 2019 3% NRE 5% Retail 10% Office 18% Residential 33% Development 31% Land 7 Residential Delivery NAMA.ie 8 Residential Delivery Progress from January 2014 to June 2020 17,380 residential units facilitated through NAMA funding 11,860 directly funded or facilitated by NAMA 5,520 indirectly delivered on sites previously secured to NAMA 2,250 units under construction or with funding approved  1,150 under construction  1,100 with funding approved but not yet under construction 6,200 with planning permission but not yet under construction 8,100 currently in the planning system applications lodged or in pre- planning consultation 9 Residential Delivery Examples of residential
 projects across Ireland Dublin Commuter Counties Urban Centres 10 Strategic Development Zones NAMA.ie 11 Dublin Docklands SDZ Progress to June 2020 NAMA retains an interest in six sites capable of delivering 1.1m sq.
ft. of commercial space and 528 residential units*.

Construction has been completed on a total of 1.6m sq.

ft. of commercial space and 228 residential units.

Construction is underway on 1.04m sq.

ft. of commercial accommodation and 378 residential units.

Sites with planning permission for 1.57m sq.

ft. of commercial space and 1,427 residential units have been sold.

*Including a leasehold interest in Block 19 – 56,000 sq.
ft. commercial and 150 residential units When fully complete, NAMA’s original interests in the Docklands will provide 4.2m sq.

ft. of commercial space and 2,183 residential units, accommodating an estimated 20,000 office workers and homes for over 5,000 people.

12 Poolbeg West SDZ Progress to June 2020  The Poolbeg West SDZ Planning Scheme was approved by An Bord Pleanála in April 2019.

 A ten year planning permission for phase 1 infrastructure was granted in January 2020.
 Pembroke at Dublin 4 was launched in July 2019.

 Open market process to seek an investment partner is ongoing.

The SDZ Planning Scheme provides for up to:  3,500 residential units (10% Part V and 15% social and affordable)  1m sq.

ft. of commercial and retail space  School sites  Cultural, community and public open space.
13 Social & Economic Contribution NAMA.ie 14 Social Housing Progress to June 2020 2,000 homes Target delivery 2,614 homes Delivered nationwide 7,093 properties Suitable units identified & offered 2,770 units Demand confirmed by local authorities Examples of social housing on former unfinished housing estates remediated through NAMA-funding Before and After €350 million* Funding committed *includes costs incurred by NARPS in purchasing residential units and capital expenditure incurred for remediation and completion of housing units and estates.
Ashmount Mews, Silversprings, Cork Fruithill Manor, Carlow 15 NAMA Looking Forward NAMA.ie 16 Looking Forward Focused on achievement of our remaining objectives, subject to market conditions → Achievement of original 2020 objectives has been adversely impacted by Impact of Covid-19 Covid-19.

Residential Funding → Monitor and mitigate risk while seeking to maximise our return to the State.

→ Facilitate delivery of up to 20,000 residential units by end-2021, subject to commercial viability.
Commercial Development → Oversee the completion of NAMA’s interests in the Dublin Docklands SDZ.

→ Drive and facilitate commercial development in the Poolbeg West SDZ.

Profitable NAMA Wind-Down → Continue to achieve best value for assets.

→ Deliver remaining €2 billion of projected lifetime surplus of €4 billion.

→ Limited extension of NAMA until 2025.

→ Continue downsizing organisation to reflect residual portfolio and objectives.
17 National Asset Management Agency Treasury Dock, North Wall Quay, Dublin 1, D01 A9T8 T: +353 1 238 4000 | E: info@nama.ie NAMA.ie