Hamburg, 19 July 2022 – The Supervisory Board of Deutsche EuroShop AG today agreed by best mutual consent with the spokesman of the company’s Executive Board, Mr Wilhelm Wellner, who temporarily stepped down from the board in April at his own request, to conclude a termination arrangement and revoke his reappointment as of 1 October 2022.

Both Mr Wellner and the current sole director of Deutsche EuroShop AG, Mr Olaf Borkers, whose appointment to the company's Executive Board expires on 30 September 2022, have decided that they will no longer be available to the company to continue their cooperation in the long term.

It was agreed with Mr Borkers that he would remain available to the company in an advisory capacity for a certain period of time following his departure from the Executive Board in order to hand over his official duties to his successor.

Issued by: Nicolas Lissner, Senior Manager Investor & Public Relations