DES Nine-Month Report 2012

/ / / 4 DES Nine-month report 2012 The Shopping Center Share Following a year-end closing price of € 24.80 in 2011, a slight downward trend caused Deutsche EuroShop shares to hit € 23.72 on 12 January 2012, their lowest level for the period. In a positive environment, the price stabilised within a corridor of € 26 to € 27 between late January and mid- April before surging upward at the start of May. It reached its highest closing price of € 31.11 in the first nine months of 2012 on 7 August. This was also a new all-time high. The price at the end of the reporting period was € 29.00. Taking into account the dividend of € 1.10 per share that we paid to our shareholders on 22 June 2012, this corresponds to a performance of 24.2% in the first nine months. The MDAX rose by 23.4% over the same period. Deutsche EuroShop’s market capitalisation stood at € 1.5 billion at the end of the third quarter of 2012. Roadshows and conferences From July to September, we presented Deutsche EuroShop at roadshows in Amsterdam, Edinburgh and Copenhagen, and at conferences in Berlin and Munich, where we also held various individual and group meetings with institutional investors and analysts. In September we conducted two property tours: We showed some 30 international investors the A10 Center in Wildau near Berlin together with Kempen & Co., and with Bankhaus Lampe we gave ten investors a behind-the-scenes look at the Phoenix-Center in Hamburg-Harburg. Awards for our investor relations activities Our annual report won a bronze award at the EPRA Annual Report Best Practice Recommendations Award 2011/2012. The Brussels-based Euro- pean Public Real Estate Association (EPRA) represents the interests of European real estate companies and campaigns for the standardisation of reporting standards, particularly for listed real estate companies. If you are interested in receiving a printed copy of our annual report, please send an e-mail to info@deutsche-euroshop.de. Our website also won an award: The Netfederation Investor Relation Benchmark 2012 surveyed the IR web presence of 100 groups listed on the major stock market indices using 111 criteria. Deutsche EuroShop came top in the real estate category and was ranked fourth in the MDAX. Further information on the survey is available at www.ir-benchmark.de. Coverage At present, 26 financial analysts regularly follow Deutsche EuroShop’s business performance and also publish studies including concrete invest- ment recommendations. In September, Frankfurt-based analyst Indepen- dent Research began covering our stock. It issued a “hold” recommen- dation with a price target of € 31.00. At the end of October, financial services institution LFG Kronos followed with an “accumulate” recom- mendation and a price target of € 34.00. The majority of the investment recommendations are currently neutral (17), with four analysts adopting a negative position and five issuing positive opinions (as at 29 October 2012). Another analyst has also indicated that it would like to initiate coverage of our share in the future. A list of analysts and current reports can be found at www.deutsche-euroshop.de/ir. Analysts Number 18 16 14 12 10 8 6 4 2 0 Sell Below average Above average BuyHold Deutsche EuroShop EPRA MDAX Jan Mar May SepJulFeb Apr Jun OctAug Deutsche EuroShop vs. MDAX and EPRA Comparison, January to October 2012 (indexed, base of 100, in %) 135 130 125 120 115 110 105 100 95 90 100 110 120 130 90 100 110 120 130 0 0 0 0 0

DES Nine-Month Report 2012

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