Shareholder structure slightly changed The number of investors rose slightly in 2013: Deutsche EuroShop now has around 9,300 shareholders (as at 15 April 2014, previous year: 9,050, +3%). The structural breakdown has barely changed: in- stitutional investors still hold around 53.7% of the shares, and private investors around 24.3% (previous year: 24.4%). The Otto family’s stake is 16.0%. The charitable Hertie Foundation and BlackRock re- port that they currently each hold slightly over 3% of the shares and are therefore still the largest institutional investors. In a shareholder identification process, we have been able to analyse the international distribution of our shares. While German investors continue to hold a clear majority (just under 65%) in Deutsche EuroShop, Private investors 24.3 Otto family 16.0 Hertie-Stiftung 3.0 BlackRock 3.0 SHAREHOLDER’S STRUCTURE IN % Institutional investors 53.7 USA 7.6 Netherlands 7.3 United Kingdom 6.0 France 5.4 Belgium 3.5 SHAREHOLDER’S STRUCTURE REGIONAL IN % Germany 64.5 Norway 2.6 Switzerland 1.2 Other 1.9 the shareholder structure is dominated by European investors overall, with Dutch, British and French investors leading the way. US investors represent around 8% of DES shares. DEUTSCHEEUROSHOPGESCHÄFTSBERICHT2013/INVESTORRELATIONS 0101