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/ / / 10 DES Interim report for the first half of 2012 STATEMENT OF CHANGES IN EQUITY in € thousand Number of shares outstanding Share capital Capital reserves Other retained earnings Statutory reserve Total 01.01.2011 51,631,400 51,631 890,615 219,491 2,000 1,163,737 Change in cash flow hedge 2,598 2,598 Change due to currency translation effects 28 28 Change in deferred taxes -410 -410 Total earnings recognised directly in equity 0 0 2,216 0 2,216 Consolidated profit 32,329 32,329 Total profit 34,545 34,545 Dividend payment -56,795 -56,795 Trade tax (IAS 8 – Error Corrections) 485 -5,562 -5,077 30.06.2011 51,631,400 51,631 890,615 191,679 2,000 1,136,410 01.01.2012 51,631,400 51,631 890,482 248,928 2,000 1,193,041 Change in cash flow hedge -6,760 -6,760 Change in deferred taxes 1,838 1,838 Total earnings recognised directly in equity 0 0 -4,922 0 -4,922 Consolidated profit 32,578 32,578 Total profit 0 0 27,656 0 27,656 Dividend payments -56,795 -56,795 30.06.2012 51,631,400 51,631 890,482 219,789 2,000 1,163,902 DISCLOSURES Reporting principles These interim financial statements of the Deutsche EuroShop Group as at 30 June 2012 have been prepared in accordance with International Financial Reporting Standards (IFRS). The management report and the abridged financial statements were not audited in accordance with section 317 of the Handelsgesetzbuch (HGB – German Commercial Code), nor were they reviewed by a person quali- fied to carry out audits. In the opinion of the Executive Board, the report contains all of the necessary adjustments required to give a true and fair view of the results of operations as at the date of the interim report for the first half of the year. The performance of the first six months up to 30 June 2012 is not necessarily an indication of future performance. The accounting policies applied correspond to those used in the last consolidated financial statements as at the end of the financial year. A detailed description of the methods applied was published in the notes to the consolidated financial statements for 2011. Adjustment of previous year’s values in accordance with IAS 8 (correction of an error) Following the decision in the third quarter of 2011 to adjust the previous year’s figures in light of trade tax risks and the need to create trade tax provisions for the first three quarters of 2011, pursuant to IAS 8.41 ff. (correction of an error) the tax expenses for the same quarter of the pre- vious year have now been adjusted accordingly in connection with the preparation of these quarterly financial statements. A trade tax provision in the amount of € 5.2 million was created and rec- ognised in expenses on 30 June 2011 that will cover current earnings of the property companies as well as the measurement differences for prop- erties arising from differences between the tax accounts and the IFRS consolidated financial statements. Meanwhile, trade tax provisions of € 0.1 million for negative interest rate hedges and costs of capital increases are recognised directly in equity (OCI). Please also refer to the detailed explanations provided in the published consolidated financial statements for 2011.

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