Investor Presentaiton

Finanzen Berlin 2013 Senatsverwaltung Secondary spread performance Senatsverwaltung be Berlin 120 80 60 40 ичират bp do 0 -40 40 11-05 -80 80 -120 -160 11-11 12-05 ساسه 12-11 13-05 BERGER 3.75% 3/15 DBR 2.25% 9/21 wwwwww BERGER 3.125% 8/21 iBoxx € Sub-Sovereigns 3-5 -BERGER 1.75% 1/17 -DBR 3.75% 1/17 iBoxx € Sub-Sovereigns 5-7 OBL 1.75% 10/15 Berlin offers an attractive yield pick-up vs. Bunds while trading less volatile than European peers Investor Presentation June 2013 | Page 15

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