Deutsche EuroShop AG 3M 2020 E

3M 2020 / Quar terly statement of 31 March 2020 WILHELM WELLNER OLAF BORKERS KEY CONSOLIDATED FIGURES in € million Revenue Net operating income (NOI) EBIT EBT (excluding measurement gains / losses 1) EPRA 2 earnings 5 FFO Consolidated profit in € EPRA 2 earnings per share 5 FFO per share Earnings per share Weighted number of no-par-value shares issued 01.01. – 31.03.2020 01.01. – 31.03.2019 55.8 50.0 48.3 40.8 38.5 38.6 28.0 56.2 50.6 49.3 42.3 47.6 39.1 39.4 01.01. – 31.03.2020 01.01. – 31.03.2019 0.62 0.62 0.45 0.77 0.63 0.64 + / - -0.9% -1.2% -2.0% -3.7% -19.1% -1.3% -28.9% + / - -19.5% -1.6% -29.7% LETTER FROM THE EXECUTIVE BOARD D E AR SHAREHO LD ER S, D E AR RE AD ER S, The coronavirus pandemic is affecting all areas of our lives. Society and the economy are facing the greatest challenge since the Second World War. The top priority is people’s health and well being. With over 175 million visitors a year and around 17,000 people directly associated with our shopping centers through their jobs, we at Deutsche EuroShop share this view unreservedly. In the current phase of the gradual reopening of shops in shopping centers, com- pliance with health requirements and close coordination with the authorities and tenants is therefore of great importance. We are impressed by the fact that the people engaged in operating our shopping centers are doing everything they can, objectively and responsibly and with the greatest personal commitment, to safely resume business operations under these special circumstances. Our special thanks and respect go to them. The first quarter of 2020 marks a turning point for us with regard to the economic impact of the coronavirus pandemic on our business, as it only includes the negative financial impact of the crisis situa- tion to a limited extent. Accordingly, we can still present satis factory operating figures for the first three months of the current finan- cial year. Revenue of €55.8 million (-0.9%) and EBIT of €48.3 million (-2.0%) were only slightly below the previous year’s levels, result- ing from the first coronavirus-related rent losses since mid-March in our foreign centers. As the same quarter of the previous year was positively influenced by one-time special effects, earnings before taxes and valuation (EBT without valuation) fell by 3.7% to €40.8 mil- lion (without special effects +2.6%) and EPRA earnings by 19.1% to €38.5 million (without special effects: -0.5%). FFO adjusted for val- uation and special effects remained at the previous year’s level of 61,783,594 61,783,594 0.0% €38.6 million. in € million Equity 3 Liabilities Total assets Equity ratio in % 3 LTV ratio in % 4 31.03.2020 31.12.2019 2,631.6 2,601.5 1,962.1 1,957.1 4,593.7 4,558.6 57.3 30.7 57.1 31.5 + / - 1.2% 0.3% 0.8% Cash and cash equivalents 182.7 148.1 23.3% Including the share attributable to equity-accounted joint ventures and associates 1 2 European Public Real Estate Association 3 Including third-party interests in equity 4 Loan-to-value ratio (LTV ratio): ratio of net financial liabilities (financial liabilities less cash and cash equivalents) to non-current assets (investment properties and investments accounted for using the equity method) 5 EPRA earnings include a one-off tax refund in the prior-year period, including interest accrued for previous years. Without this tax refund, EPRA earnings would have totalled €38.7 million or €0.63 per share. At present, business closures and restrictions on business opera- tions as well as cautious consumer behaviour are having a direct negative impact on our rental partners and thus on our planned rental income and cash flow. Following the reopening of shops, the focus is on an intensive phase of coordinating economic and coop- erative solutions with our rental partners with regard to contractual obligations. The performance of bricks-and-mortar retail sales and the outcome of negotiations with our tenants cannot be quantified in the foreseeable future. Against this background, we have withdrawn our forecast for the whole of 2020 and have also decided to pro- pose to the Annual General Meeting scheduled for 16 June 2020 that the dividend payment for financial year 2019 be suspended. In our view, at this point in time it is essential to maintain as much liquid- ity as possible in the Company in order to be optimally prepared for the unpredictable months ahead. In addition, we were able to sign 1 Deutsche EuroShop / 3M 2020

3M 2020 / Quar terly statement of 31 March 2020 agreements with our banks for upcoming refinancings at an early In this time of particular uncertainty, we continue to act with fore- stage in the past quarter. Thanks to these measures and our con- sight and flexibility – in the interests of all stakeholders. Even though servative financing strategy, Deutsche EuroShop has a healthy bal- we are unable to estimate the economic impact on Deutsche Euro- ance sheet and high liquidity even at the present time and thus has Shop at the present time, we remain confident that our Company will solid financial room for manoeuvre to meet the challenges ahead. master the current challenges. The opening of a majority of shops is an important first step towards a new normality. We very much hope Deutsche EuroShop is generally well positioned even in this excep- that you will continue to accompany us on this journey. tional situation and will continue to implement its strategic meas- ures. This includes investing in the attractiveness and tenant mix of Hamburg, May 2020 our shopping centers, which is being carried out in the current phase as required, as well as increasing digitalisation. With the digital mall concept, we are further bringing together the worlds of offline and online shopping. By the end of 2019, the convenient online product search was already available at all German shopping centers for Wilhelm Wellner Olaf Borkers over 1.9 million products. By gradually linking up more and more retailers and locations, this omnichannel offering will keep growing. We will continue to work intensively on this. 01.01. – 31.03.2020 01.01. – 31.03.2019 RESULTS OF OPERATIONS in € thousand Revenue Operating and administrative costs for property NOI Other operating income Other operating expenses EBIT At-equity proﬁt / loss Measurement gains / losses (at equity) Deferred taxes (at equity) At-equity (operating) profit / loss Interest expense Profit / loss attributable to limited partners Other financial gains or losses Financial gains or losses (excl. measurement gains / losses) EBT (excl. measurement gains / losses) Measurement gains / losses Measurement gains / losses (at equity) Measurement gains / losses (including at-equity profit / loss) Income taxes Deferred taxes Deferred taxes (at equity) Deferred taxes (including at equity) CONSOLIDATED PROFIT 55,756 -5,726 50,030 655 -2,378 48,307 7,865 -11,003 -4,402 5 -7,535 40,772 -5,902 -2,180 -4,656 28,034 6,517 1,167 181 -4,735 -1,167 -4,475 -181 56,234 -5,606 50,628 151 -1,491 49,288 7,641 -12,530 -4,644 2,576 -6,957 42,331 -2,523 5,689 6,973 606 62 -1,917 -606 -6,030 -62 Change + / - -478 -120 -598 504 -887 -981 224 1,527 242 in % -0.9% -2.1% -1.2% 333.8% -59.5% -2.0% 2.9% 12.2% 5.2% -2,571 -99.8% -578 -1,559 -3,379 -7,869 -8.3% -3.7% -133.9% -138.3% -6,092 1,436 23.6% 39,405 -11,371 -28.9% 2 Deutsche EuroShop / 3M 2020

3M 2020 / Quar terly statement of 31 March 2020 First effects of the coronavirus pandemic on revenues Revenue for the reporting period came in at €55.8 million. This is refund of €2.6 million for a trade tax refund. Excluding this spe- cial effect seen the previous year, net financial costs improved by 0.9% lower on a comparable basis than in the same period of the €2.0 million, in particular due to the further €1.5 million reduction in previous year (€56.2 million). This was due to the legal measures the interest expenses of group companies. In addition to scheduled adopted in our foreign markets since mid-March to cushion the repayments, the cheaper refinancing for the Rhein-Neckar- Zentrum effects of the coronavirus pandemic, which included the suspension Viernheim and the A10 Center Wildau had a positive effect here. of tenancy agreements for tenants affected by the closures. With- out these measures, we would have slightly exceeded the revenue The at-equity profit recognised in financial gains or losses, at of the previous year. €7.9 million, remained almost at the prior-year level (€7.6 million). Property operating and management costs in line with expectations At €5.7 million, center operating expenses in the reporting period EBT (excluding measurement gains / losses) down The decline in EBIT and the one-off interest refund the previous year caused EBT (excluding measurement gains / losses) to fall from were almost at the same level as in the previous year (€5.6 million). €42.3 million to €40.8 million (-3.7%). Operating costs, which mainly comprise center management fees, maintenance expenses, write-downs on rent receivables and non- allocable service charges, amounted to 10.3% of revenues, in line with our expectations. Other operating income and expenses Other operating income, stemming primarily from the reversal of provisions, from income from rental receivables written down in previous years and from additional payments in conjunction with ancillary costs, amounted to €0.7 million and was therefore signifi- Measurement losses influenced by modernisation investments Measurement losses of €-5.9 million (previous year: €-2.5 million) included investment costs incurred by our portfolio properties (including the at-equity share) mainly in relation with our “At Your Service” and “Mall Beautification” investment programmes. Income taxes Taxes on income and earnings amounted to €-2.2 million (previous cantly higher than in the previous year. At €0.9 million, other oper- year: tax income of €5.7 million) and included a trade tax refund of ating expenses, most of which related to general administrative and €7.1 million in the previous year. Deferred taxes resulting mainly personnel expenses, were up on the same period last year, in par- from the amortisation of the tax balance sheet for our real estate ticular as a result of one-off financing costs in connection with the assets totalled €4.7 million (previous year: €6.1 million). extension of our credit line as well as higher consulting costs. EBIT lower than last year Earnings before interest and taxes (EBIT) at €48.3 million were EPRA earnings and consolidated profit decline due to special effects the previous year EPRA earnings, which exclude measurement gains / losses, were below the figure for the previous year (€49.3 million), largely due to positively influenced in the previous year to the extent of €8.9 million the coronavirus-driven decline in revenue and rise in other operat- by the trade tax refund including the accrued interest income and ing expenses. Net finance costs down due to one-off interest income in the previous year Net finance costs (excluding measurement gains / losses) increased taking into account the related taxes. Without this one-off effect in the previous year EPRA earnings would have been on a par with the previous year at €38.5 million or €0.62 per share. Consolidated profit stood at €28.0 million, €11.4 million down on the by €0.6 million from €-6.9 million to €-7.5 million. In the previous previous year period (€39.4 million), and earnings per share fell from year, other financial gains and losses included a one-off interest €0.64 to €0.45. 3 Deutsche EuroShop / 3M 2020

3M 2020 / Quar terly statement of 31 March 2020 EPRA EARNINGS Development of funds from operations (FFO) Funds from operations (FFO) are used to finance our ongoing invest- ments in portfolio properties, scheduled repayments on our long- 01.01. – 31.03.2020 01.01. – 31.03.2019 term bank loans and as the basis for the distribution of dividends. in € thousand per share in € in € thousand per share in € Significant non-recurring effects that are not part of the Group’s operating activities are eliminated in the calculation of FFO. FFO Consolidated profit 28,034 0.45 39,405 0.64 declined from €39.1 million to €38.6 million or by €0.01 per share 5,902 0.10 2,523 0.04 -90 0.00 -84 0.00 to €0.62. FUNDS FROM OPERATIONS Measurement gains / losses investment properties 1 Measurement gains / losses derivative financial instruments 1 Deferred tax adjustments pursuant to EPRA 2 EPRA EARNINGS 3 38,502 0.62 47,568 4,656 0.07 5,724 Weighted number of no-par-value shares issued 61,783,594 61,783,594 Including the share attributable to equity-accounted joint ventures and associates 1 2 Affects deferred taxes on investment properties and derivative financial instruments 3 EPRA earnings include a one-off tax refund in the period the previous year, including interest accrued for previous years. Without this tax refund, EPRA earnings would have totalled €38.7 million or €0.63 per share. Measurement gains / losses investment properties 1 Tax refund for previous years 2 Deferred taxes 1 01.01. – 31.03.2020 01.01. – 31.03.2019 in € thousand per share in € in € thousand per share in € Consolidated profit 28,034 0.45 39,405 0.64 0.09 0.77 5,902 0.10 2,523 0.04 FFO 38,592 0.62 39,134 0 4,656 0.00 0.07 -8,886 6,092 -0.15 0.10 0.63 Weighted number of no-par-value shares issued 61,783,594 61,783,594 1 2 Including the share attributable to equity-accounted joint ventures and associates Including the tax expense attributable to the interest refund RE VENUE in € million EBIT in € million EBT * in € million FFO PER SHARE in € 56.2 55.8 49.3 48.3 0.63 0.62 42.3 40.8 -0.9% -2.0% -3.7% -1.6% 3M 2019 3M 2020 3M 2019 3M 2020 3M 2019 3M 2020 3M 2019 3M 2020 * excluding measurement gains / losses 4 Deutsche EuroShop / 3M 2020

3M 2020 / Quar terly statement of 31 March 2020 FINANCIAL POSITION AND NET ASSETS OUTLOOK Net assets and liquidity The Deutsche EuroShop Group’s total assets increased slightly compared with the last reporting date, rising by €35.1 million to €4,593.7 million. EXPECTED RESULTS OF OPERATIONS AND FINANCIAL POSITION Equity ratio of 57.3% The equity ratio (including the shares of third-party shareholders) At the beginning of April 2020 we withdrew our previous forecast for 2020 because it was not possible to assess the impact of the corona- was 57.3%, practically unchanged on the last reporting date (57.1%) virus pandemic. It is only recently that more tenants have been able and still at a very solid level. Liabilities As at 31 March 2020 current and non-current financial liabilities to open their doors in our centers again under certain conditions. However, a quantifiable assessment of the further course of busi- ness in 2020 is still not possible at the present time. We expect rev- enue, EBIT, EBT (excluding measurement gains / losses) and FFO to stood at €1,515.4 million, which was €3.1 million higher than at be below the 2019 figures. the end of 2019. The scheduled repayments were offset by a loan increase of €7.4 million to finance investment measures. DIVIDEND PLANNING Non-current deferred tax liabilities increased by €4.9 million to €383.6 million due to further additions. Other current and non- As a precaution to secure and further improve the Company’s liquid- current liabilities and provisions decreased by €2.9 million. ity, the Executive Board has therefore decided to propose to the REPORT ON EVENTS AFTER THE REPORTING DATE Annual General Meeting that the net profit remaining following the transfer to the other retained earnings for 2019 be carried forward and the dividend payment suspended. We intend to maintain our divi- dend policy geared towards continuity following the stabilisation of this extraordinary situation. Between the reporting date on 31 March 2020 and the date the finan- cial statements were prepared the authorities loosened /announced a loosening of the closures made in connection with the coronavirus RISK REPORT pandemic. The timelines and regulations varied widely by country or, The coronavirus pandemic will have an impact on the individual in the case of Germany, federal state. Since 11 May 2020 all shops in risks of the Group below with respect to the amount of losses and our German shopping centers have essentially been open again for the likelihood of occurrence. As already outlined in our 2019 risk business. In Austria, Poland and Hungary, shops in shopping centers report (see the 2019 financial report, p.18), the extent of this risk have been largely open since the beginning of May 2020 and in the is currently not quantifiable. Depending on how the pandemic pro- Czech Republic since 11 May 2020. In general, significant restric- gresses, the individual risks and the overall risk position will be tions continue to apply to hospitality and entertainment. Further- reviewed and regularly re-evaluated. However, we expect that indi- more, extensive health and safety precautions must be observed vidual risks will increase in terms of the amount of losses and /or when operating shopping centers (e.g. face masks must be worn, likelihood of occurrence. customer numbers are limited according to shop size and opening hours are restricted).Overall, footfall in the shopping centers shortly We do not believe that the Company currently faces any risks after reopening is still well below pre-crisis levels and varies greatly capable of jeopardising its continued existence. between centers. No further significant events occurred between the reporting date on 31 March 2020 and the date the financial statements were prepared. 5 Deutsche EuroShop / 3M 2020

3M 2020 / Quar terly statement of 31 March 2020 CONSOLIDATED BALANCE SHEET ASSETS in € thousand ASSETS Non-current assets Intangible assets LIABILITIES 31.03.2020 31.12.2019 in € thousand 31.03.2020 31.12.2019 EQUITY AND LIABILITIES Equity and reserves 53,749 53,752 Issued capital Property, plant and equipment 394 424 Capital reserves Investment properties 3,822,786 3,822,786 Retained earnings Investments accounted for using the equity method 513,377 511,493 Total equity Non-current assets 4,390,306 4,388,455 Current assets Trade receivables Other current assets Cash and cash equivalents Current assets 7,185 7,417 13,578 14,646 182,663 148,087 203,426 170,150 Non-current liabilities Financial liabilities Deferred tax liabilities 61,784 61,784 1,217,560 1,217,560 999,644 970,229 2,278,988 2,249,573 1,498,303 1,433,373 383,624 378,755 Right to redeem of limited partners 352,585 351,905 Other liabilities 32,222 33,863 Non-current liabilities 2,266,734 2,197,896 Current liabilities Financial liabilities Trade payables Tax liabilities Other provisions Other liabilities Current liabilities 17,106 78,974 6,938 2,035 6,972 5,805 1,401 8,120 14,959 16,836 48,010 111,136 TOTAL ASSETS 4,593,732 4,558,605 TOTAL EQUITY AND LIABILITIES 4,593,732 4,558,605 6 Deutsche EuroShop / 3M 2020

3M 2020 / Quar terly statement of 31 March 2020 CONSOLIDATED INCOME STATEMENT STATEMENT OF COMPREHENSIVE INCOME 01.01. – 31.03.2020 01.01. – 31.03.2019 in € thousand 55,756 56,234 Consolidated profit 01.01. – 31.03.2020 01.01. – 31.03.2019 28,034 39,405 in € thousand Revenue Property operating costs Property management costs Net operating income (NOI) Other operating income Other operating expenses Interest income Financial gains or losses Measurement gains / losses Earnings before tax (EBT) Income taxes CONSOLIDATED PROFIT Earnings per share (€) Earnings before interest and taxes (EBIT) 48,307 49,288 Share in the profit or loss of associated companies and joint ventures accounted for using the equity method 6,517 6,973 Interest expense -11,003 -12,530 TOTAL PROFIT Profit / loss attributable to limited partners -4,402 1,774 -1,501 -393 344 1,381 -1,157 29,415 38,248 29,415 38,248 -3,074 -2,652 -2,957 -2,649 50,030 50,628 655 151 -2,378 -1,491 Items which under certain conditions in the future will be reclassified to the income statement: Actual share of the profits and losses from instruments used to hedge cash flows Deferred taxes on changes in value offset directly against equity Total earnings recognised directly in equity Share of Group shareholders -4,644 2,576 -7,625 -1,917 5 -8,883 -4,735 34,689 39,746 -6,655 -341 28,034 39,405 0.45 0.64 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY in € thousand 01.01.2019 Total profit Dividend payments 31.03.2019 01.01.2020 Total profit Dividend payments 31.03.2020 Number of shares outstanding Share capital Capital reserves Other retained earnings Statutory reserve Cash flow hedge reserve Total 61,783,594 61,784 1,217,560 974,484 2,000 -26,080 2,229,748 0 0 0 0 39,405 0 0 0 -1,157 38,248 0 0 61,783,594 61,784 1,217,560 1,013,889 2,000 -27,237 2,267,996 61,783,594 61,784 1,217,560 993,900 2,000 -25,671 2,249,573 0 0 0 0 28,034 0 0 0 1,381 29,415 0 0 61,783,594 61,784 1,217,560 1,021,934 2,000 -24,290 2,278,988 7 Deutsche EuroShop / 3M 2020

3M 2020 / Quar terly statement of 31 March 2020 CONSOLIDATED CASH FLOW STATEMENT in € thousand Consolidated profit Income taxes Financial gains or losses Amortisation /depreciation of intangible assets and property, plant and equipment with a finite life Unrealised changes in fair value of investment property and other measurement gains / losses Distributions and capital repayments received Changes in trade receivables and other assets Changes in current provisions Changes in liabilities Cash flow from operating activities Interest paid Interest received Income taxes paid Net cash flow from operating activities Outflows for the acquisition of investment properties Outflows for the acquisition of intangible assets and property, plant and equipment Cash flow from investing activities Inflows from financial liabilities Outflows from the repayment of financial liabilities Outflows from the repayment of lease liabilities Payments to limited partners Cash flow from financing activities Net change in cash and cash equivalents Cash and cash equivalents at beginning of period CASH AND CASH EQUIVALENTS AT END OF PERIOD 01.01. – 31.03.2020 01.01. – 31.03.2019 28,034 6,655 8,883 36 4,735 4,633 1,300 -1,148 -588 52,540 -11,003 5 -1,546 39,996 -5,054 -3 -5,057 7,416 -4,354 -22 -3,403 -363 34,576 148,087 182,663 39,405 341 7,625 45 1,917 5,397 3,634 1,590 -1,974 57,980 -12,530 3 -1,186 44,267 -1,921 -19 -1,940 2,500 -898 -28 -3,461 -1,887 40,440 116,335 156,775 8 Deutsche EuroShop / 3M 2020

3M 2020 / Quar terly statement of 31 March 2020 SEGMENT REPORTING Segment reporting by Deutsche EuroShop AG is carried out on the basis of internal reports that are used by the Executive Board to manage the Group. Internal reports distinguish between shopping centers in Germany (“domestic”) and other European countries (“abroad”). As the Group’s main decision-making body, the Deutsche EuroShop AG Executive Board first and foremost assesses the performance of the segments based on revenue, EBIT and EBT excluding meas- urement gains / losses. The measurement principles for segment reporting correspond to those of the Group. In order to assess the contribution of the segments to the individ- ual performance indicators as well as to the Group’s success, the income, expenditure, assets and liabilities of the joint ventures are included in internal reporting in proportion to the Group’s share therein. Similarly, for subsidiaries in which the Group is not the sole shareholder, income, expenditure, assets and liabilities are likewise only consolidated proportionately according to the corresponding Group share. This results in the segments being divided as follows: BREAKDOWN BY SEGMENT in € thousand Revenue (01.01. – 31.03.2019) EBIT (01.01. – 31.03.2019) EBT excl. measurement gains / losses (01.01. – 31.03.2019) Domestic 49,233 (48,790) 43,519 (42,780) 34,308 (32,120) Abroad 10,227 (10,913) 9,514 (10,328) 7,851 (8,571) Total Reconciliation 59,460 (59,703) 53,033 (53,108) 42,159 (40,691) -3,704 (-3,469) -4,726 (-3,820) -1,387 (1,640) Segment assets (31.12.2019) of which investment properties (31.12.2019) 3,341,840 (3,315,952) 3,246,262 (3,246,262) 776,951 (773,700) 743,828 (743,828) 4,118,791 (4,089,652) 3,990,090 (3,990,090) 474,941 (468,953) -167,304 (-167,304) 01.01. – 31.03.2020 55,756 (56,234) 48,307 (49,288) 40,772 (42,331) 31.03.2020 4,593,732 (4,558,605) 3,822,786 (3,822,786) The adjustment of the proportionate consolidation of the joint ven- reconciliation column of the segment assets. The reconciliation col- tures and subsidiaries in which the Group does not own a 100% umn also contains the companies which are not allocated to either of stake is carried out in the reconciliation column. Deferred tax liabil- the two segments (Deutsche EuroShop AG, DES Management GmbH, ities are considered by the Executive Board of Deutsche EuroShop DES Beteiligungs GmbH & Co. KG). AG in a cross-segment manner and are therefore included in the reconciliation column of the segment liabilities. Accordingly, the In view of the geographical segmentation, no further information goodwill from the acquisition of Olympia Brno was allocated to the pursuant to IFRS 8.33 is given. 9 Deutsche EuroShop / 3M 2020

3M 2020 / Quar terly statement of 31 March 2020 OTHER DISCLOSURES Responsibility statement by the Executive Board To the best of our knowledge, and in accordance with the applicable of the Group, together with a description of the principal opportu- nities and risks associated with the expected development of the Group for the remainder of the financial year. reporting principles for interim financial reporting, the interim con- Hamburg, 14 May 2020 solidated financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group, and the interim management report of the Group includes a fair review of the development and performance of the business, and the position Wilhelm Wellner Olaf Borkers THE SHOPPING CENTER SHARE KEY SHARE DATA Following a year-end closing price* for 2019 of €26.42, Deutsche Sector / industry group Financial services / real estate Share capital as at 31.03.2020 €61,783,594.00 EuroShop shares were steady in the first few weeks of 2020. On 3 January 2020, the share closed at €26.50, the highest price in the first three months of the year. At the end of February, investor uncertainty rose sharply in connection with the coronavirus pan- demic. This led to considerable price falls for our shares, those of our peers and stock markets worldwide. DES shares were trad- Number of shares as at 31.03.2020 (no-par-value registered shares) Dividend for 2019 (proposed) Share price on 30.12.2019 ing at €25.40 in the closing auction on 21 February 2020, but ended Share price on 31.03.2020 the first quarter of 2020 at €10.46 on Xetra after a very volatile Low / high for the period under review down market. Deutsche EuroShop’s market capitalisation stood at €646.3 million at the end of the period. This equates to a perfor- mance of -60.4% for the reporting period. The SDAX fell by 26.1% over the same period. DEUTSCHE EUROSHOP VS. SDAX AND EPRA COMPARISON, JANUARY TO MAY 2020 indexed, base of 100, in % Deutsche EuroShop EPRA SDAX Market capitalisation on 31.03.2020 Prime Standard OTC markets Indices ISIN Ticker symbol 61,783,594 €0.00 €26.42 €10.46 €26.50 /€9.94 €646.3 million Frankfurt and Xetra Berlin, Düsseldorf, Hamburg, Hanover, Munich and Stuttgart SDAX, EPRA, GPR 250, EPIX 30, MSCI Small Cap, HASPAX, F.A.Z.-Index DE 000748 020 4 DEQ, Reuters: DEQGn.DE Jan. Feb. Mar. Apr. May 140 100 60 20 10 * Unless otherwise specified, all information and calculations are based on Xetra closing prices. Deutsche EuroShop / 3M 2020

3M 2020 / Quar terly statement of 31 March 2020 FINANCIAL CALENDAR 2020 14.05. 28.05. 16.06. 17.06. 13.08. 18.08. 03.09. 07.09. 21.09. Quarterly statement 3M 2020 Societe Generale The Nice Conference (virtual) Annual General Meeting (virtual) UniCredit Kepler Cheuvreux German Property Day (virtual) Half-year Financial Report 2020 Roadshow London, J.P. Morgan Commerzbank Sector Conference, Frankfurt 22.09. 01.10. 21.10. 12.11. 16.11. 25.11. Baader Investment Conference, Munich (hybrid) Commerzbank German Real Estate Forum, London Kempen European Property Seminar, Amsterdam Quarterly statement 9M 2020 Roadshow Paris, Societe Generale DZ Bank Equity Conference, Frankfurt Jefferies Real Estate Conference, Tel Aviv Our financial calendar is updated continuously. Goldman Sachs & Berenberg German Conference, Please check our website for the latest events: Munich www.deutsche-euroshop.com/ir ALLEE-CENTER MAGDEBURG STADT- GALERIE PASSAU CITY ARKADEN KLAGENFURT ALTMARKT-GALERIE DRESDEN RHEIN-NECKAR-ZENTRUM VIERNHEIM RATHAUS- CENTER DESSAU ALLEE-CENTER HAMM INFORMATION? WOULD YOU LIKE ADDITIONAL CITY- GALERIE WOLFSBURG MAIN-TAUNUS-ZENTRUM SULZBACH/FRANKFURT ÁRKÁD PÉCS www.deutsche-euroshop.de/IR Then visit us online or call us: Patrick Kiss and Nicolas Lissner Phone: +49 (0)40 - 41 35 79 20/-22 Fax: +49 (0)40 - 41 35 79 29 www.deutsche-euroshop.com/ir Email: ir@deutsche-euroshop.de Forward-looking statements This quarterly statement contains forward-looking statements Rounding and rates of change Percentages and figures stated in this report may be subject to based on estimates of future developments by the Executive Board. rounding differences. The rates of change are based on economic The statements and forecasts represent estimates based on all of considerations: improvements are indicated by a plus (+); deterio- the information available at the current time. If the assumptions on ration by a minus (-). which these statements and forecasts are based do not materialise, the actual results may differ from those currently being forecast. 11 Deutsche EuroShop / 3M 2020