INVESTOR RELATIONS 2015 KEEPING UP WITH EUROPEAN PEERS The price of Deutsche EuroShop shares rose by 11.8%. Taking into account the dividend paid of €1.30 per share, the performance of Deutsche EuroShop shares amounted to 15.3% year on year (2014: 17.7%). As such, our share price performance was below that of the European benchmark for listed real estate companies, the EPRA index, in 2015 (+20.0%) and was mid-ranking within its European peer group1 . The benchmark index for medium-sized companies, the MDAX, gained 22.7% in the year under review. Over the past year, German open-ended property funds achieved an average performance of +3.3% (2014: +1.6%), and attracted cash inflows of around €3.3 billion (2014: €2.2 billion). 1 Atrium European Real Estate, Citycon, Eurocommercial Properties, IGD, Intu Properties, Klepierre, Mercialys, Unibail-Rodamco, Vastned Retail and Wereldhave SHARE PRICE REACHES PEAK FOR YEAR JUST BEFORE THE ANNUAL GENERAL MEETING Deutsche EuroShop shares began the 2015 trading year at €36.20. After a good start during the first few days of trading, our shares plunged to €36.32, a low for the year, on 6 January, and then rebounded to new record highs in what was – for real estate stocks in particu- lar – a highly supportive market. The share price reached €48.00 on 10 April 2015, its peak for the year, and hence also of all time, in Xetra trading. During the following months, the DES share price was highly volatile and fluctuated between €38.00 and €44.00 in the second half of the year. It closed the year back up at €40.46, a gain of +15.3% includ- ing dividends. The market capitalisation of Deutsche EuroShop rose by €230 million to €2.18 billion in 2015. STOCK MARKET PERFORMANCE in % 2015 2014 DES share 15.3 17.7 DAX 9.6 2.7 MDAX 22.7 2.2 TecDAX 33.5 17.5 EURO STOXX 50 (Europe) 4.8 1.2 Dow Jones (USA) -0.6 8.5 Nikkei (Japan) 9.1 7.1 The Shopping Center Share Taste buds are onion-shaped structures found on the mucus membranes in the mouth. In addition to other types of cells, they contain the taste receptors. INVESTOR RELATIONS 86 Deutsche EuroShop AG Annual Report 2015 DES share 15.317.7 DAX 9.62.7 MDAX 22.72.2 TecDAX 33.517.5 EURO STOXX 50 (Europe) 4.81.2 Dow Jones (USA) -0.68.5 Nikkei (Japan) 9.17.1