Deutsche EuroShop AG ESG Report E

01 Foreword Olaf Borkers, CFO and member of the Executive Board responsible for ESG matters DEAR SH A RE H O LDE RS AND S TA KE H O LDE RS, Climate protection is a top priority for Deutsche EuroShop. We firmly believe that sustainability and profitability are not mutually exclusive. Neither are the shopping experience and environmental aware- ness. Long-term thinking is part of our strategy. This includes playing our part in environmental protection. In addition, Deutsche EuroShop has for many years supported a range of local and regional activities that take place in our shopping centers in the areas of the environment, society and the economy. „DEUTSCHE EUROSHOP HAS SUPPORTED FOR MANY YEARS ACTIVITIES AT THE LOCAL AND REGIONAL LEVEL.“ We are currently working on expanding the sustaina- bility strategy for Deutsche EuroShop and our shop- ping centers and are prepared to make the necessary investment. And of course we are subjecting our- selves to measurement: the Executive Board compen- sation system adopted at the Annual General Meeting 2021 includes ESG targets whose achievement is linked to financial incentives. This ESG Report is a first step towards even more transparent reporting on environmental, social and governance practices, which we intend to use in future to document our sustainability performance and progress. Olaf Borkers CFO and member of the Executive Board responsible for ESG matters

Deutsche EuroShop / ESG Report 2021 C O N T E N T S EPRA sBPR report DGNB Sustainability certificates GREEN ELECTRICITY E-charging infrastructure Choose life over lockdown Green Lease Green heating Whistleblower system The Executive Board The Supervisory Board Corporate Governance Memberships and recognised codes Awards, Certificates, Ratings Legal 04 10 14 15 16 17 18 19 20 22 26 36 40 41 02

Deutsche EuroShop / ESG Report 2021 E P R A sBPR REP ORT I N T R O D U C T I O N We report on our energy, GHG emissions, water and waste impacts, and social and governance measures in accordance with the 3rd edition of the EPRA Sus- tainability Best Practice Recommendations (sBPR). Our reporting response has been split into 2 sections: 1. Overarching Recommendations 2. Sustainability Performance Measures OV E R A R C H I N G R EC O M M E N DAT I O N S ORGANISATIONAL BOUNDARIES We use the operational control approach for our data boundary, which includes 15 assets 1. There were no changes to our portfolio between 2020 and 2021, meaning the scope of assets included in our Absolute and Like-for-Like performance measures is the same. COVERAGE We report on all properties within the organisa- tional boundary defined above, and for which we are responsible for purchasing utilities as the landlord (see Boundaries – reporting on landlord and tenant consumption). 1 A10 Center Wildau, Allee-Center Hamm, Altmarkt-Galerie Dres- den, Billstedt-Center Hamburg, City-Arkaden Wuppertal, City- Galerie Wolfsburg, City-Point Kassel, Forum Wetzlar, Galeria Bal- tycka Gdansk, Herold-Center Norderstedt, Main-Taunus-Zentrum, Olympia Center Brno, Rathaus-Center Dessau, Rhein-Neckar- Zentrum and Stadt-Galerie Hameln. ESTIMATION OF LANDLORD- OBTAINED UTILITY CONSUMPTION Of the data reported, approximately 10% of our port folio water consumption data has been estimated in 2021. The estimated data is based on 2020 consumption and relates to two assets in our portfolio for which 2021 data is not yet available. There has been no estimation of energy data. BOUNDARIES – REPORTING ON LANDLORD AND TENANT CONSUMPTION The electricity consumption reported includes elec- tricity which we purchase as landlords and refers to common areas only. Consumption data for fuels, district heating and cooling and water include tenant data as it is not possible to separate common area and tenant area consumption. Waste data also includes tenant waste. ANALYSIS - NORMALISATION Energy and emissions intensity indicators are calcu- lated using floor area (m2) for whole buildings whilst water intensity is calculated using the total number of visitors. We are aware of the mismatch between nom- inator and denominator, as our consumption for elec- tricity relates to common areas only, whereas fuels, district heating and cooling and water data covers the entire building as we cannot separate common area from tenant area consumption. For our own offices, we report energy and emissions intensity performance measures using the floor area we occupy within the building whilst water intensity is calculated using the total number of employees. 04

05 EPRA sBPR report ANALYSIS – SEGMENTAL ANALYSIS (BY PROPERTY TYPE, GEOGRAPHY) We have not carried out segmental analysis as this is not informative for our portfolio, given that our assets are all shopping centres located in similar climatic zones, similar in age, and the majority have similar EPC ratings. THIRD PARTY ASSURANCE We do not have third party assurance. DISCLOSURE ON OWN OFFICES Our own occupied offices are reported separately to our portfolio. Please see Table environmental perfor- mance measures on page 8. NARRATIVE ON PERFORMANCE Por tfolio performance In 2020, the environmental impact of our portfolio across our environmental indicators was notably reduced due to the COVID-19 lockdowns which resulted in wide-spread closures. These closures continued for extended periods in 2021, particularly in Germany, which has driven some of our consumption decrease. However, increased activity during 2021 is reflected in the overall changes in performance of the portfolio. The energy efficiency (measured in kWh /m2) of our portfolio increased by 1% between 2020 and 2021, despite a 7% reduction in absolute and like-for-like electricity consumption, there was a 7% increase in absolute and like-for-like fuel consumption and a 18% increase in absolute and like-for-like district heating and cooling consumption, which is partly influenced by corrections to 2020 consumption values. This year we have reported both market-based and location-based Scope 2 emissions, adjusting last year's values accordingly. We use a market-based emission factor of 0 T CO2 e where we procure renew- able electricity in our operational control, and the location-based emissions uses country-specific fac- tors. In both cases, where we report district heating and cooling, we use the equivalent location-based factor as we do not have any supplier factors. We saw a 7% increase in direct Scope 1 emissions equal to the increase from fuels and a 15% reduc- tion in indirect Scope 2 GHG emissions from elec- tricity and district heating and cooling (using the location-based methodology). The GHG emissions intensity of our portfolio consequently reduced by 12% to 0.03 tCO 2/m2 in 2021. Due to the disruption caused by COVID-19, energy effi- ciency improvements were largely put on hold across the portfolio. Nonetheless, several asset-level meas- ures were implemented at various locations in 2021. Some centres that have started to switch in parts of the buildings to LED and there has been an adjust- ment of lighting switching times to lockdown times which has contributed the decrease seen in our elec- tricity consumption. Furthermore we have installed a new heating system in the A10 Center “Freizeitwelt” and introduce more efficient heat exchangers in the City-Arkaden Wuppertal. Galeria Bałtycka (Gdansk / PL) also continues to use Vpplant (www.vpplant.com) for energy-efficient operation of the ventilation and cooling systems. Water consumption reduced by 18% in absolute and like-for-like terms. However, the water intensity of our portfolio increased to 0.005 m3/visitor due to the reduction in footfall at our assets owing to shop clo- sures and lockdowns due to COVID-19. All water is from the municipal supply. Waste produced across our portfolio increased by 1% to 5,479 tonnes in 2021 as significantly more centres have included organic waste in their reports, which is reflected in the increase of waste being composted from 2% to 12%. Of the remaining waste, 46% was recycled and 42% was sent for incineration. Given that most waste is generated by our tenants, this is not under our direct operational control. We nonethe- less work with tenants to promote waste separation to increase the proportion of waste that is recycled.

Deutsche EuroShop / ESG Report 2021 The changes compared with 2020 can be attributed to the fact that we continue to collect more accurate separation data. with district heating and cooling, when we use the equivalent location-based factor as we do not have any supplier factors. In 2021, we continued to recertify our assets and can report that all our assets are certified to the DGNB standard. The breakdown is as follows: DGNB Platinum: 1. A10 Center Wildau. 2. Billstedt-Center Hamburg. 3. City-Galerie Wolfsburg. 4. Rhein-Neckar-Zentrum Viernheim. 5. Forum Wetzlar, 6. City-Arkaden Wuppertal. Together, these represent 38% of our portfolio by leasable floor area. DGNB Gold: 1. Allee-Center Hamm, 2. Altmarkt-Galerie Dresden, 3. City-Point Kassel, 4. Galeria Baltycka Gdansk, 5. Herold-Center Norderstedt, 6. Main-Taunus-Zentrum Sulzbach, 7. Olympia Center Brno, 8. Rathaus-Center Dessau, 9. Stadt-Galerie Hameln. Together, these represent 62% of our portfolio by leasable floor area. Other notable ESG activities at our assets include the expansion of the e-charging infrastructure at Olympia Center in Brno / CZ. Own office performance During 2021, electricity consumption within our own office varied noticeably compared to 2020, as we saw a 1% increase in electricity consumption whilst we had a 10% decrease in consumption of district heating and cooling. As district heating and cooling represent 79% of our energy use, the energy intensity of our own office decreased by 3%. As we have begun reporting on a market-based approach for our portfolio, we have also begun reporting our own office performance on the same basis. All our procured electricity is provided on the basis of a renewable supply and so we use an emission factor of 0 CO2 e. Our market-based Scope 2 emissions are therefore only those associated Due to the coronavirus pandemic and a continuation of stay-at-home orders, our absolute and like-for-like water consumption decreased significantly by 34%. Consequently, our water intensity decreased by the same amount (34%). Despite only minor changes to the amount of waste produced by our offices in 2021, we continued to reduce the proportion of waste sent for incineration, achieving an increase of 16% in recycled waste and a 16% reduction in the amount of waste being incinerated. The changes compared to 2020 can be attributed to the fact that we continue to collect more accurate separation data. Social and governance performance measures We report on the EPRA sBPR Social and Governance Performance Measures that are material given our employee profile, and for which we can collect the required information. Deutsche EuroShop directly employs five full-time members of staff and there are two members of our Executive Board. In line with German company law, Deutsche EuroShop has a dual management and control structure comprising two executive bodies, the Executive Board and the Supervisory Board. There are nine members of the Supervisory Board, five of whom are independent. Excluding the Executive Board, 40% of our employees are female. Our reporting on gender diversity is in line with the German Corporate Governance Code and our approach and performance are described in detail in the Corporate Governance chapter of this report (see page 26). Information on the composition of our Super visory Board, our processes for nominating and selecting members, and the avoidance of conflicts of interest is also provided in this section. During 2021, 80% of our employees attended training amounting to an average of 25 hours per employee. Training focuses on building the skills and knowledge we need to fulfil our business strategy, and supporting employees’ career development goals. Emp-Dev is marked as not applicable: although every employee 06

07 EPRA sBPR report meets with the CFO and CEO annually which provides the opportunity for open conversations to be had, these meetings do not constitute a formal review process. No employees joined or left the company in 2021, meaning our new hire and turnover rate was zero. Due to the small number of full-time employees, reporting on employee health and safety (H&S- Emp) is not meaningful. Nonetheless, we can report that there were no workplace accidents during the reporting period. Location of EPR A sustainability performance measures EPRA sustainability performance measures for our portfolio and own offices can be found on pages 07– 09 of this report. SUSTAINABILITY PERFORMANCE MEASURES Por tfolio environmental performance measures Indicator EPRA code Unit of measure 2020 Cov- erage 2021 Cov- erage Change Total electricity consumption Elec-Abs kWh 63,346,008 100% 58,861,962 100% -7% Like-for-like electricity consumption Total energy consumption from district heating and cooling Elec-LFL DH&C-Abs kWh kWh 63,346,008 100% 58,861,962 100% 21,734,872 100% 25,711,168 100% -7% 18% % from renewable sources 72.35% 71.14% Like-for-like consumption from district heating and cooling % from renewable sources n/ a n/ a DH&C-LFL kWh 21,734,872 100% 25,711,168 100% 18% Total energy consumption from fuel Fuels-Abs kWh 25,759,370 100% 27,591,370 100% % from renewable sources 0 0 Like-for-like consumption from fuel Fuels-LFL kWh 25,717,754 100% 27,591,370 100% Building energy intensity Energy-Int kWh / m2 Direct GHG emissions (total) Scope 1 GHG-Dir-Abs Indirect GHG emissions (total) Scope 2 GHG-Indir-Abs Building GHG emissions intensity GHG-Int Total water consumption Water-Abs tCO 2 tCO 2 (market based) tCO 2 (location based) tCO 2/m2 (market based) tCO 2/m2 (location based) Total m3 Like-for-like water consumption Water-LFL m3 Building water consumption intensity Water-Int m3/visitor Weight of waste by disposal route (total) Waste-Abs tonnes 97 100% 98 100% 5,205 100% 5,575 100% 13,639 100% 13,164 100% 33,116 28,041 0.017 100% 0.016 100% 0.034 0.030 397,513 100% 327,775 100% 397,513 100% 327,775 100% 0.005 100% 0.004 100% 5,434 100% 5,479 100% % recycled % composted % sent to incineration 55 2 43 46 12 42 Waste-LFL tonnes 5,434 100% 5,479 100% % recycled % composted % sent to incineration 55 2 43 46 12 42 Weight of waste by disposal route (like-for-like) na = not applicable n/a = not available. 7% 7% 1% 7% -3% -15% -1% -12% -18% -18% -6% 1% -16% 500% -2% 1% -16% 500% -2% GHG emissions: We calculate our emission based on the GHG Protocol methodology. The market based Scope 2 emissions are calculated by taking into consideration that renewable electricity comes from specific contracts certified by the TÜV Süd. Since market-based emissions factors for Scope 2 GHG emissions from district heating are not available at the time of publication, location-based emission factors were used. The location based Scope 2 emissions are calculated by using country-specific emission factors.

Deutsche EuroShop / ESG Report 2021 Indicator EPRA code Unit of measure Type and number of assets certified Cert-Tot % of portfolio certified OR number of certified assets % of portfolio by leasable space 2020 Cov- erage 2021 Cov- erage Change 100% 100% 100% 100% 0% 62% awarded DGNB Gold 38% awarded DGNB Platinum na = not applicable n/a = not available. GHG emissions: We calculate our emission based on the GHG Protocol methodology. The market based Scope 2 emissions are calculated by taking into consideration that renewable electricity comes from specific contracts certified by the TÜV Süd. Since market-based emissions factors for Scope 2 GHG emissions from district heating are not available at the time of publication, location-based emission factors were used. The location based Scope 2 emissions are calculated by using country-specific emission factors. Own office environmental performance measures Indicator EPRA code Unit of measure Total electricity consumption Elec-Abs kWh 2020 Cov- erage 2021 Cov- erage Change 8,607 100% 11,998 100% 39% Like-for-like electricity consumption Total energy consumption from district heating and cooling Like for like consumption from district heating and cooling % from renewable sources 100 100 Elec-LFL DH&C-Abs kWh kWh 8,607 100% 10,556 100% 51,197 100% 46,191 100% 23% -10% % from renewable sources n. z. k. A. DH&C-LFL kWh 51,197 100% 46,191 100% -10% Total energy consumption from fuel Fuels-Abs kWh Like-for-like consumption from fuel Fuels-LFL kWh % from renewable sources na na na 100% 100% 100% na na na 100% 100% 100% Building energy intensity Energy-Int kWh / m2 217 100% 212 100% -3% Direct GHG emissions (total) Scope 1 GHG-Dir-Abs Indirect GHG emissions (total) Scope 2 GHG-Indir-Abs Building GHG emissions intensity Total water consumption GHG-Int Water-Abs tCO2 tCO 2 (market based) tCO 2 (location based) tCO 2/m2 (market based) m3 Like-for-like water consumption Water-LFL m3 Building water consumption intensity Water-Int m3/employee 0 100% 8.8 100% 0 100% 7.8 100% 12.3 11.9 0.032 100% 0.028 100% 386 386 100% 100% 38 100% 254 254 100% 100% 25 100% Weight of waste by disposal route (total) Waste-Abs tonnes 0.214 100% 0.226 100% % recycled % sent to incineration 49 51 57 43 Waste-LFL tonnes 0.214 100% 0.226 100% % recycled % sent to incineration % of portfolio certified OR number of certified assets 49 51 0 100% 57 43 0 100% Weight of waste by disposal route (Like-for-like) Type and number of assets certified Cert-Tot na = not applicable n / a = not available. -11% -3% -11% -34% -34% -34% 5% 16% -16% 5% 16% -16% GHG emissions: GHG emissions: We calculate our emissions based on the GHG Protocol methodology. The market based Scope 2 emissions are calculated by taking into consideration that renewable electricity comes from specific contracts certified by the TÜV Süd. Since market-based emissions factors for Scope 2 GHG emissions from district heating are not available at the time of publication, location-based emissions factors were used. The location based Scope 2 emissions are calculated by using country-specific emission factors. No fuels are used at our office building. Water, district heating and cooling and waste are calculated using figures for the whole building, and the m2 percentage the DES office occupies (DES has an office of 275 m2 in a building of 6,088 m2), as these are not metered separately. 08

09 EPRA sBPR report Social and governance performance measures Indicator EPRA code Unit of measure Indicator Diversity-Emp % of male & Supervisory Board female employees Executive Board Other employees Emp-Training Average number of hours Average hours of training undertaken by employees in the reporting period % of employees Number of employees Emp-Dev % of total workforce % of total employees who received regular performance and career development reviews during the reporting period Emp-Turnover Total number and rate New employee hires Employee turnover Gov-Board Total numbers Number of executive board members Number of independent / non-executive board members Average tenure on the governance body Number of independent / non-executive board members with competencies relating to environmental and social topics 2021 33% female 67% male 100% male 40% female 60% male 8 80% na 0 0% 9 5 7.8 na Employee gender diversity Employee training and development Employee performance appraisals New hires and turnover Composition of the highest governance body Process for nominating and selecting the highest governance body Process for managing conflicts of interest Gov-Selec Narrative description The nomination and selection processes for the Board of Directors and its committees and the specific criteria used for nominating and selecting highest governance body members Corporate Governance Section (p. 26) Gov-COI. Narrative description Processes to ensure that conflicts of interest are avoided and managed in the highest governance body and how they are reported Corporate Governance Section (p. 26) na = not applicable. Please see narrative on peformance.

Deutsche EuroShop / ESG Report 2021 D G N B S US TA I N A B I L I T Y C E R T I F I - C AT E S FO R A L L C E N T E R S The German Sustainable Building Council (known as the Deutsche Gesellschaft für nachhaltiges Bauen e.V. in German, referred to hereinafter by its acro- nym DGNB) has awarded sustainability certificates to all 21 shopping centers in Deutsche EuroShop’s port- folio, all of which are managed by ECE. Ten centers received Platinum certificates while eleven received Gold certificates. The successful certifications were based on the DGNB basic certificate for buildings in use, which ECE was the first company ever to receive for its sustainable work processes in 2016. ECE has optimised its equip- ment and processes in a way that now enables all of the shopping centers which it manages to be oper- ated according to uniform sustainability principles. These processes include procurement, maintenance and “green leases”, i.e. leases which comply with sus- tainability standards. On this basis, the 21 centers were rated in an individ- ual portfolio certification process by the DGNB with the aim of ensuring the continuous development of these shopping centers. The auditors looked espe- cially at property-specific aspects such as energy consumption, sociocultural projects and mobility. This procedure follows a holistic approach in which all pillars of sustainability – economic, environmen- tal and social aspects – are constantly examined and optimised. GERMAN SUSTAINABLE BUILDING COUNCIL The DGNB was founded in 2007 by architects, plan- ners, building product manufacturers, investors and scientists who have long been concerned with the topic of sustainable building. The council seeks to exchange knowledge, promote further education and raise public awareness with regard to sustainability in the construction and operation of real estate of all kinds, with the overriding goal of advancing sustaina- ble construction. The focus of the DGNB’s activities is therefore on defining a uniform benchmark for sus- tainable buildings and, as a result, developing a trans- parent certification system that makes it possible to designate and identify sustainable buildings. THE “DGNB CERTIFICATE” The “DGNB Certificate” is a comprehensive evalua- tion system for sustainable buildings, which is avail- able in different system variants for numerous build- ing types. It serves as a tool for planning high-quality real estate and was designed by the Federal Minis- try of Transport, Building and Urban Development (BMVBS) together with the DGNB as a supplement to the BMVBS’s Guideline for Sustainable Building (LFNB). The basic idea of the LFNB is to create a build- ing environment that is comfortable for people while affording special protection of the environment. At the same time, the implementation of the guideline is intended to promote the achievement of measurable operational and economic benefits. The German Quality Seal for Sustainable Building is based on research carried out by KIT and the Univer- sity of Darmstadt on the development of a certifica- tion system as well as on the results of the DGNB’s protection target working groups. It was developed as part of a two-year collaboration between the Federal Ministry of Transport, Building and Urban Develop- ment (BMVBS), supported scientifically by the Federal Institute for Research on Building, Urban Affairs and Spatial Development (BBSR), and the DGNB. Consid- eration is given to the entire lifecycle of a building, encompassing ecological, economic, sociocultural, technical and process-related quality. The quality of a property’s location is also shown separately from the overall evaluation. 10

11 DGNB Sustainability certificates The German Quality Seal for Sustainable Building was designed as a scientifically sound, planning-based evaluation system and is continually updated in close cooperation with research institutions and market participants. As a result, it always reflects the latest international developments in the field of sustaina- ble construction. Developers, investors and planners thus have a comprehensive guide at their fingertips right from the start of a building project, which con- veys the principle of sustainable building in practical examples. Ecological quality Economic quality Sociocultural and functional concerns Technical quality Process quality Location quality STRUCTURE OF THE “DGNB CERTIFICATE” Main criteria groups of the DGNB Certificate Each of our 21 shopping centers has been subject to comprehensive evaluation. The DGNB Certificate comprises six main criteria groups: Ecological Qual- ity, Economic Quality, Socio cultural and Functional Quality, Technical Quality, Process Quality and Loca- tion Quality. Each quality category is in turn broken down into a different number of criteria. This enables the most holistic possible view of the building under consideration. By taking ecological quality features into account, the aim is to conserve resources by optimising the use of building materials and products and mini- mising media consumption. The non-renewable and renewable primary energy requirements, for exam- ple, are found in the ecological evaluation group. Closely related to energy and media consumption are the resulting environmental impacts. They are described, among other things, on the basis of the profiles governing the potential for greenhouse emis- sions, acidification, ozone layer depletion, ozone for- mation and eutrophication, as well as on the basis of the risks to the local and global environment. The lifecycle costs and value stability profiles are representative of the economic quality of a build- ing. They take into account not only the acquisition and construction costs, but also the follow-up costs incurred over the entire service life. Alongside ecological and economic aspects, socio- cultural and functional concerns are incorporated as the third pillar of sustainability, addressing the issues of indoor air, repurposing capabilities and space efficiency. Aesthetic and design qualities as well as aspects of health protection, comfort and accessibil- ity are also examined. The criteria for assessing technical quality are used to record the structural condition of a building. Here, for example, the focus is on how easy it is to clean, maintain and repair the materials used and the build- ing structure, or what the physical properties are of the building envelope. The criteria for assessing process quality consider the design and realisation of the property in question. The “integral planning” profile, for example, docu- ments whether and from which point the experts and authorities involved are included in the planning process. In the area of location quality, an evaluation is con- ducted of the possible effects of the local site condi- tions on the building as well as of the effects of the building on the surroundings and thus also on soci- ety. Examples of this include the image and condition of the site, but also how well the building is connected to public transport networks to reduce pollutants and prevent urban sprawl.

Deutsche EuroShop / ESG Report 2021 Center GERMANY Main-Taunus-Zentrum, Sulzbach / Frankfurt A10 Center, Wildau / Berlin Altmarkt-Galerie, Dresden Rhein-Neckar-Zentrum, Viernheim / Mannheim Herold-Center, Norderstedt Rathaus-Center, Dessau Allee-Center, Magdeburg Phoenix-Center, Hamburg Billstedt-Center, Hamburg Saarpark-Center, Neunkirchen Forum, Wetzlar Allee-Center, Hamm City-Galerie, Wolfsburg City-Arkaden, Wuppertal City-Point, Kassel Stadt-Galerie, Passau Stadt-Galerie, Hameln ABROAD Olympia Center, Brno, Czech Republic Galeria Bałtycka, Gdansk, Poland City Arkaden, Klagenfurt, Austria Árkád, Pécs, Hungary DGNB Sustainability Certiﬁcate Project evaluation / Overall achievement rate Gold Platinum Gold Platinum Gold Gold Gold Platinum Platinum Gold Platinum Gold Platinum Platinum Gold Platinum Gold Gold Gold Platinum Platinum 73.1% 81.2% 77.9% 80.6% 77.9% 79.0% 77.7% 84.6% 83.5% 77.3% 81.0% 77.2% 82.1% 82.1% 78.6% 83.3% 78.5% 68.7% 75.6% 84.0% 80.6% DGNB auditor Issued Valid until Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Jan Herde, ES EnviroSustain GmbH 01 /2019 12 /2021 1 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 Prof. Dr Joachim Hirschner, IWTI GmbH 03 /2021 02 /2024 1 The certificate remains valid for 6 months after expiration; certification for a follow-up certificate is in progress. 12

Deutsche EuroShop / ESG Report 2021 G R E E N E L E C T R I C I T Y In 2021, all of our 21 shopping centers had contracts with suppliers that use renewable energy sources, such as hydroelectric power, for their electricity needs, and 19 purchased exclusively green electricity. The TÜV Süd certified this electricity for our centers in Germany with the renowned “Eco Power Product” label. In the coming years, the remaining two centers will be completely switched to green electricity, as far as possible. Our 21 shopping centers used a total of around 61.8 million kWh of green electricity in 2021. This rep- resented 78% of the electricity requirement to operate the shopping centers. As a result, based on conserva- tive calculations, this meant a reduction of around 20,683 tonnes in carbon dioxide emissions – equat- ing to the annual CO2 emissions of more than 940 two-person households. The use of heat exchangers and LED lamps allows us to further reduce energy consumption in our shopping centers, for example. REDUC TION OF CO 2 EMISSIONS AND ELEC TRICIT Y CONSUMP TION 22,0 80,000 70,000 16,5 60,000 50,000 11,0 40,000 30,000 5,5 20,000 10,000 0,0 0 20 15 10 5 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Number of centers included CO2 reduction in t Total electricity consumption in MWh 14

15 Green electricity O V E R V I E W O F E - C H A R G I N G I N F R A S T R U C T U R E I N O U R C E N T E R S PROPERTIES WITH CHARGING POINTS Property Available Number of charging points Type Provider Rhein-Neckar-Zentrum, Viernheim 6 DC / AC Allego Rathaus-Center, Dessau A10 Center, WIldau Forum, Wetzlar Main-Taunus-Zentrum, Sulzbach Olympia Center, Brno Allee-Center, Magdeburg 4 2 4 8 6 4 AC DC AC AC HPC AC Stadtwerke Dessau Allego energie- und wassergesellschaft mbH Symcharge Tesla envia Mitteldeutsche Engergie AG AC = Alternating current, DC = Direct current (higher power), HPC = High power charging Also in implementation Number of charging points 29 44 8 Type Provider HPC / AC Allego / Tesla HPC / AC Allego / Tesla / Symcharge HPC / AC Allego / Tesla / Symcharge PROPERTIES IN NEGOTIATION AND REVIEW PROPERTIES IN REVIEW Property Allee-Center, Hamm Billstedt-Center, Hamburg Phoenix-Center, Hamburg City Arkaden, Klagenfurt 29.03.2022 Property City-Point, Kassel City-Galerie, Wolfsburg City-Arkaden, Wuppertal Herold-Center, Norderstedt Stadt-Galerie, Hameln Altmarkt-Galerie, Dresden Galeria Baltycka, Danzig Arkad, Pecs Stadt-Galerie, Passau Saarpark-Center, Neunkirchen 29.03.2022 In negotiation / review Implementation in the near future Number of charging points Type Provider 12 10 10 6 DC / AC Allego AC AC AC Shell Shell VoltaCharging In review Implementation by end of 2024 Number of charging points Type 3 7 6 8 5 5 10 8 5 16 AC HPC / AC HPC / AC HPC / AC AC AC AC AC HPC / AC HPC / AC

Deutsche EuroShop / ESG Report 2021 C H O O S E L I F E O V E R L O C K D O W N . G E T VA C C I N AT E D . Professional footballer Emre Can was one of the ﬁrst supporters of the campaign – together with Borussia Dortmund (pictured here for the campaign at City-Point Kassel) “Choose life over lockdown” is a joint campaign organised by the retail sector and retail property sector and supports the Federal Government’s “Together against Corona- virus” initiative. Deutsche EuroShop has been a supporter of the campaign – which aims to increase COVID-19 vaccination uptake in Germany – since its inception. The goal: to inform people about vaccinations and motivate them to get vaccinated. The more than 30 participating companies provide space for vaccination services at selected locations because the more people get vaccinated, the faster everyone can get back to normal. In parallel, and in line with the motto “Life belongs in the centre”, the companies are committed to helping society make the transition to learning to live respon- sibly with COVID-19 without jeopardising jobs, liveli- hoods and vibrant coexistence in cities. 16 MORE THAN ONE MILLION CORONAVIRUS VACCINATIONS More than one million doses of vaccine were admin- istered as part of the vaccination campaign by March 2022. This means that “Choose life over lockdown” is the largest private-sector vaccination campaign in Germany. Since the summer of 2021, retail’s vaccination cam- paign has made a major contribution to containing the pandemic with low-threshold vaccination offers, posters and flyers in stores and several shopping centers, rounded out by prominent vaccination testi- monials. In 2022 as well, retail and the retail prop- erty sector will continue to work together to further increase people’s willingness to get vaccinated by offering first and second doses as well as booster vaccinations on site. See www.leben-statt-lockdown.de for more information.

17 Choose life over lockdown. / Green lease contracts G R E E N L E A S E C O N T R AC T S Altmarkt Galerie, Dresden Store operators play a key role in improving energy efficiency and resource conservation in shopping centers. After all, they can influence a considerable portion of total energy consumption, for example by managing their retail areas with a view to saving energy. Since the end of 2015, therefore, green lease contracts have been used for new leases. According to these contracts, Deutsche EuroShop and its tenant partners undertake to base their leases on sustaina- ble criteria. Specifications concerning the materials used for constructing and converting rental space and regulations on energy-saving management form part of the contracts. At the end of 2021, green lease contracts had been concluded for just under 31% of the rental space in Deutsche EuroShop’s portfolio. The Stadt-Galerie in Passau was at the top of the list of DES centers in the last financial year, with more than 63% of its rental space subject to green lease contracts. It is an ongo- ing goal to continue to increase the percentage of green lease contracts in all centers each year. More information on green leases is available from the German Property Federation (Zentrale Immobilien Ausschuss, ZIA) at: www.zia-deutschland.de/project/green-lease/

Deutsche EuroShop / ESG Report 2021 District heating station of the Allee-Center, Magdeburg G R E E N H E A T I N G F O R T H E A L L E E - C E N T E R , M A G D E B U R G At the beginning of December 2021, the heating supply of the Allee-Center Magdeburg was converted from heat generated by gas boiler systems to sup- ply from a district heating station. As a result, our center in the city center of Magdeburg is now mak- ing a notable contribution to CO2 savings in our port- folio. A contract was concluded with Städtische Werke Magdeburg (SWM) for this purpose, making the center one of the largest district heating customers of the supply and disposal company for the state capital Magdeburg. The center’s CO2 emissions previously amounted to approximately 625 tonnes per year. District heating from the Rothensee waste-to-energy plant can save almost 90% of this. The heating requirement of the shopping center is roughly equivalent to that of 500 to 1,000 apartments. The conversion involved meeting stringent tech- nical requirements within a very short timeframe, including, for example, the laying of a district heating route through the Allee-Center to the district heating station on the 2nd floor. 18

19 Green heating / whistleblower system W H AT I S A W H I S T L E B L O W E R S Y S T E M ? C O M P L I A N C E C O M PA C T A digital whistleblower system, such as the one used by Deutsche EuroShop, is software that whistleblow- ers can use to submit a report on our website. The reporting system is thus accessible at any time and from any location and provides a central point of con- tact for whistleblowers. When reporting, whistleblow- ers fill out a case template, which is used to gather important information. The whistleblower is free to leave their personal details or can submit the report anonymously. In the latter case, the reporting system creates a mailbox through which the caseworker can continue to communicate with the whistleblower with- out disclosing their identity. If a tip-off is received by the Compliance Manager, he or she examines the case and initiates any further steps. www.deutsche-euroshop.de/compliance As a listed company, it is our duty, also in the interests of our shareholders, to prevent any form of unlaw- ful or even criminal activity within our own sphere of influence. This includes providing reporting channels so that employees and external parties can report indications of possible misconduct with ease and in the strictest confidentiality. Major economic scandals such as the “Wirecard” case that broke in the last few years or “Dieselgate”, as it has come to be known, ensure that the topic of whis- tleblowing stays in the news and that legislators con- tinue to push ahead with more and more regulations – most recently, the EU Whistleblowing Directive, which in Germany has resulted in the Whistleblower Protec- tion Act. In this context, the term “whistleblower sys- tem” appears on a regular basis. Using a whistleblower system, whistleblowers – for example, employees of a company or organisation, suppliers or customers – can report anonymous information about observed grievances or violations of rules without fear of negative consequences. This means that whistleblowers do not have to fear termi- nation, workplace discrimination or intimidation.

21 The Executive Board THE E X E C U T I V E B O A R D Wilhelm Wellner, CEO Born 8 March 1967 WILHELM WELLNER is a trained banker who earned a degree in business management from the Univer- sity of Erlangen-Nuremberg and a Master of Arts (economics) degree from Wayne State University Detroit. He started his professional career at Siemens AG in 1996 as a specialist for international project and export finance. In 1999 Mr Wellner took a position as a senior officer in the area of corporate finance at Deutsche Lufthansa AG, where he was responsi- ble for a variety of capital market transactions and supervised numerous M & A projects. In 2003 Mr Wellner switched to ECE Projektmanage- ment G.m.b.H. & Co. KG in Hamburg, Europe’s mar- ket leader in the area of inner-city shopping centers. As the international holding company’s Chief Finan- cial Officer, he helped shape the expansion of this shopping center developer and was appointed Chief Investment Officer of the ECE Group in 2009. From 2012 to 2014 Mr Wellner served as Chief Finan- cial Officer of the finance, human resources, legal affairs and organisation departments at Railpool GmbH, a Munich- based leasing company for rail vehicles. Mr. Wellner joined the Executive Board of Deutsche EuroShop AG at the start of 2015. He has German citizenship, is married and has two children. Olaf Borkers, MEMBER OF THE EXECUTIVE BOARD Born 10 December 1964 After serving as a ship’s officer in the German Navy, OLAF BORKERS completed a banking apprenticeship at Deutsche Bank AG in 1990. He then studied busi- ness administration in Frankfurt am Main. From 1995, Mr Borkers worked as a credit analyst for Deutsche Bank AG in Frankfurt and Hamburg in the ship financing industry. In 1998, he joined RSE Grundbesitz und Beteiligungs AG, Hamburg, as an assistant to the Executive Board. There, among other things, he took responsibility for managing a pro- ject to acquire a major, formerly municipal housing company. In 1999, Mr Borkers was appointed to the Executive Board of TAG Tegernsee Immobilien und Beteiligungs AG, Tegernsee und Hamburg, where he was respon- sible for the finance and investor relations depart- ments until September 2005. He also held vari- ous Supervisory Board and management positions within the TAG Group. As sole director, he launched the company on the stock market with a secondary offering and then on the SDAX after various capital- raising measures. Olaf Borkers has been a Member of the Execu- tive Board at Deutsche EuroShop AG since October 2005. He is a German citizen and married with two children.

Deutsche EuroShop / ESG Report 2021 T H E S U P E R V I S O R Y B O A R D As at 31 December 2021 Name Born Reiner Strecker (Chairman) 1961 Place of residence Wuppertal Nationality Appointed since German 2012 End of appointment 2022 Annual General Meeting Chairman of the Executive Committee, Deputy Chairman of the Capital Market Committee, Member of the Audit Committee • Carl Kühne KG (GmbH & Co.), Hamburg (Chairman) • akf Bank GmbH & Co. KG, Wuppertal Committee activities Membership of other legally required supervisory boards and memberships in comparable domestic and foreign supervisory bodies for business enterprises Karin Dohm (Deputy Chairwoman) 1972 Kronberg im Taunus German 2012 2022 Annual General Meeting Member of the Executive Committee, Chairwoman of the Audit Committee, Financial Expert • Hornbach Immobilien AG, Bornheim (since 1 April 2021; Chairwoman since 17 September 2021) • Ceconomy AG, Düsseldorf Position • Personally liable partner, Vorwerk & Co. KG, Wuppertal (until 31 December 2021) • Management consultant (since 1 January 2022) Member of the Executive Board, Hornbach Baumarkt AG and Hornbach Management AG, Bornheim Key positions held • 1981–1985: Degree in business administration, • 1991 – 1997: Studied business and economics in Münster, Eberhard Karls University, Tübingen • 1986 –1990: Commerzbank AG, Frankfurt • 1991–1997: STG-Coopers & Lybrand Consulting AG, Zurich (Switzerland) • 1998 –2002: British-American Tobacco Group, Hamburg, London (UK), Auckland (New Zealand) • 2002 –2009: British-American Tobacco (Industrie) GmbH, Hamburg, Member of the Executive Board for Finance and IT • since 2009: Vorwerk & Co. KG, Wuppertal • since 2010: Personally liable partner • 2009 –2021: Vorwerk & Co. KG, Wuppertal • 2010 –2021: Personally liable partner • since 2022: Management consultant Zaragoza (Spain) and Berlin • 1997-2010: Deloitte & Touche GmbH, Berlin, London (UK), Paris (France) • 2002: Steuerberaterexamen (German tax consultant exam) • 2005: Wirtschaftsprüferexamen (German auditor exam) • 2010-2011: Deloitte & Touche GmbH, Berlin, Partner Financial Services • 2011 – 2020: Deutsche Bank AG, Frankfurt: - 2011 – 2014: Head of Group External Reporting - 2015: Chief Financial Officer, Global Transaction Banking - 2016: Global Head of Group Structuring - 2017 – 2019: Global Head of Government & Regulatory Affairs - 2020: Global Program Director • since 2021: Hornbach Baumarkt AG and Hornbach Man- agement AG, Bornheim, Member of the Executive Board Profile of skills Experience in retail, corporate management, accounting, capital markets and corporate governance Experience in accounting, financing, capital markets, law and corporate governance Relationship to con- trolling /major share- holders or Deutsche EuroShop AG none Deutsche EuroShop securities portfolio as of 31 December 2021 9,975 none 0 22

23 The Supervisory Board Dr Anja Disput Henning Eggers 1977 Bad Soden am Taunus German 2019 1969 Halstenbek German 2019 2024 Annual General Meeting 2024 Annual General Meeting – – Member of the Executive Committee, Chairman of the Capital Market Committee, Member of the Audit Committee • ECE Group GmbH & Co. KG, Hamburg Partner, Disput Hübner Partnerschaft von Rechtsanwälten mbB, Frankfurt Member of Management, CURA Vermögensverwaltung G.m.b.H., Hamburg • 1997–2002: Law studies, Johann Wolfgang Goethe • 1990 –1995: Degree in business administration, University, Frankfurt • 2002 –2005: Hanau district court, legal clerkship • 2005 –2010: Taylor Wessing, Frankfurt, London (United Kingdom) and Munich, Attorney-at-Law in Real Estate Law • 2010 –2015: Taylor Wessing, Frankfurt, Partner in Real Estate Law • 2015 –2020: Curtis, Mallet-Prevost, Colt & Mosle LLP, Frankfurt, Partner and Attorney-at-Law in Real Estate Law • since 2020: Disput Hübner Partnerschaft von Rechtsanwälten mbB, Frankfurt, partner University of Hamburg • 1999: Steuerberaterexamen (German tax consultant exam) • 1995 –2000: PKF Fasselt Schlage Auditing and Tax Consultancy, Hamburg • since 2000: KG CURA Vermögensverwaltung G.m.b.H. & Co., Hamburg (Family Office of the Otto family) - since 2013: Member of Management Experience in real estate, law and corporate governance none 0 Experience in corporate management, accounting, financing, capital markets and corporate governance Shareholder representative of the Otto family 1,100

Deutsche EuroShop / ESG Report 2021 Dr Henning Kreke Alexander Otto Claudia Plath Name Born 1965 Place of residence Hagen / Westfalen Nationality Appointed since German 2013 1967 Hamburg German 2002 1971 Hamburg German 2019 End of appointment 2023 Annual General Meeting 2023 Annual General Meeting 2024 Annual General Meeting Committee activities Member of the Capital Market Committee – – Membership of other legally required supervisory boards and member- ships in comparable domestic and foreign supervisory bodies for business enterprises Position • Douglas GmbH, Düsseldorf (Chair) • Thalia Bücher GmbH, Hagen / • Peek & Cloppenburg KG, Düsseldorf • Ceconomy AG, Düsseldorf • MEC Metro-ECE Centermanagement Westphalia • SITE Centers Corp., Beachwood GmbH & Co. KG, Düsseldorf • Encavis AG, Hamburg • Axxum Holding GmbH, Wuppertal • Püschmann GmbH & Co. KG, (USA) • Verwaltungsgesellschaft Otto mbH, Hamburg Wuppertal • Con-Pro Industrie-Service GmbH & Co. KG, Peine • Noventic GmbH, Hamburg • Perma-tec GmbH & Co. Euerdorf • Ferdinand Bilstein GmbH & Co. KG, Ennepetal • Slyrs Destillerie GmbH & Co. KG, Schliersee (since 1 May 2021) Managing Partner, Jörn Kreke Holding KG and Kreke Immobilien KG, Hagen / Westphalia CEO, ECE Group Verwaltung GmbH, Hamburg CFO, ECE Group Verwaltung GmbH, Hamburg Key positions held • Studied business (BBA and MBA) at • Studied at Harvard University and the University of Texas at Austin (USA) • Doctorate (political science) from the University of Kiel • 1993 –2017: Douglas Holding AG, Hagen / Westphalia - 1993 –1997: Assistant to the Executive Board - 1997–2001: Member of the Board of Management - 2001–2016: Chairman of the Board of Management • since 2016: Jörn Kreke Holding KG and Kreke Immobilien KG, Hagen / Westphalia, Managing Partner Harvard Business School, Cambridge, USA • 1994 –2020: Verwaltung ECE Projektmanagement G.m.b.H., Hamburg - 2000 –2020: CEO • 1991–1996: Degree in business admin- istration, Technical University of Berlin • 1996 –2020: Verwaltung ECE Projekt- management G.m.b.H., Hamburg - 1996 –2001: Controller - 2001–2003: Group Manager Controlling • since 2021: ECE Group Verwaltung - 2004 –2009: Divisional Head of GmbH, Hamburg, CEO Controlling - 2009 –2010: Director Asset Manage- ment & Controlling (national) - 2010 –2012: Senior Director Asset Management (national / international) - 2013 –2020: CFO • since 2021: ECE Group Verwaltung GmbH, Hamburg, CFO Profile of skills Experience in retail, corporate management, accounting, capital markets and corporate governance Experience in retail, real estate, corporate management, capital markets and corporate governance Experience in real estate, corporate management, accounting, financing and corporate governance Relationship to controlling /major shareholders or Deutsche EuroShop AG Partner and Supervisory Board Mem- ber at Douglas GmbH as well as at Thalia Bücher GmbH (both companies are tenancy agreement partners of Deutsche EuroShop AG) Major shareholder Member of the Management Board of ECE Group Verwaltung GmbH, Hamburg (Alexander Otto (major shareholder) is the Chairman of the Management Board) Deutsche EuroShop securities portfolio as of 31 December 2021 0 12,372,602 7,260 24

25 The Supervisory Board Klaus Striebich Roland Werner 1967 Besigheim German 2012 1969 Hamburg German 2015 2022 Annual General Meeting 2025 Annual General Meeting – • Klier Hairgroup GmbH, Wolfsburg • Sinn GmbH, Hagen (until 3 September 2021) • Unternehmensgruppe Dr. Eckert GmbH, Berlin – – Managing Director, RaRe Advise Klaus Striebich, Besigheim Chairman of the Board of Management, Bijou Brigitte modische Accessoires AG, Hamburg • Studied business in Mosbach • 1990: Kriegbaum Gruppe, Böblingen, Assistant to the • Studied business at EBC University, Hamburg • since 2001: Bijou Brigitte modische Accessoires AG, Management Board • 1992 –2017: Verwaltung ECE Projektmanagement G.m.b.H., Hamburg - 2003 –2017: Managing Director Leasing • since 2018: RaRE Advise Klaus Striebich, Besigheim, Independent Consultant Hamburg: - 2004 –2009: Member of the Board of Management - since 2009: Chairman of the Board of Management Experience in retail, real estate and corporate management Experience in retail, corporate management, accounting and capital markets none none 525

Deutsche EuroShop / ESG Report 2021 C O RP O R AT E G O V E RN A N C E 2 0 2 1 A N D D EC L A R AT I O N O N C O R P O R AT E G OV E R N A N C E Deutsche EuroShop is a transparent company that operates in accordance with a strategy geared towards long-term success. This focus on constancy is a key aspect of our corporate culture. Based on the legal and company-specific conditions governing management of a listed company, we strive to pro- mote the trust of investors, creditors, employees, business partners and the public in the management and supervision of our Company. This goal is consist- ent with the requirements of a demanding corporate governance system. In conformity with principle 22 of the Deutscher Corporate Governance Kodex (Ger- man Corporate Governance Code) as well as Section 289f (1) of the Handelsgesetzbuch (HGB – German Commercial Code), this declaration contains a report by the Executive Board, also on behalf of the Supervi- sory Board, on corporate governance. OBJECTIVES AND STRATEGY investments focuses on The management in high-quality shopping centers in inner cities and established locations offering the potential for sta- ble, long-term value growth. A key investment target is the generation of high surplus liquidity from leases in shopping centers, which is paid out to sharehold- ers in the form of an annual dividend. To this end, the Company invests its capital in shopping centers in dif- ferent European regions in accordance with the prin- ciple of risk diversification. Germany is the main focus of investment. Indexed and turnover-linked commer- cial rents form the basis to achieve the high earnings targets. The Company may invest up to 10% of equity in joint ventures in shopping center projects in the early stages of development. New investments must be financed from a balanced mix of sources, and borrowing must not account for more than 55% of financing across the Group over the long term. As a general rule, long-term interest rates are fixed when loans are taken out or renewed, with the goal of keeping the term (average fixed interest period) at over five years. 26

27 Corporate Governance 2021 As a result of the recognised and anticipated long- term impact of the coronavirus pandemic on our port- folio, management will review the strategy in finan- cial year 2022 and make adjustments as necessary. DIVERSIFIED SHOPPING CENTER PORTFOLIO Deutsche EuroShop AG holds a balanced, diversified portfolio of shopping centers in Germany and other parts of Europe. We focus our investment activities on prime (1a) locations in cities with a catchment area of at least 300,000 residents in order to guarantee a sustained high level of investment security. SEIZING OPPORTUNITIES AND MAXIMISING VALUE In line with our fundamental buy and hold strategy, we consistently place greater importance on the quality and yield of our shopping centers than on our portfolio’s rate of growth. We continuously monitor the market and make portfolio adjustments through acquisitions and sales when economically attractive opportunities arise. Rapid decision-making chains as well as considerable flexibility regarding poten- tial investments and financing structures allow Deutsche EuroShop to react to very wide-ranging competitive situations. At the same time, the Group’s management focuses on optimising the value of the existing portfolio of properties. TAILORED RENT STRUCTURE One key component of the rental model is a tailored rent structure. While individual owners in inner cities are often concerned with achieving the highest pos- sible rents for their property (which results in a mon- ostructured retail offering), we ensure an attractive sector mix and long-term optimisation of our rental income through combined costing. Rental partners pay sector-specific and turnover-linked rent that is regularly hedged through indexed minimum rents during the rental period. THE SHOPPING EXPERIENCE CONCEPT We have outsourced center management to an experienced external partner, Hamburg-based ECE Marketplaces GmbH & Co. KG (ECE; formerly ECE Projektmanagement GmbH & Co. KG). ECE has been designing, planning, building, letting and managing shopping centers since 1965. The company is cur- rently the European market leader, with around 200 shopping centers under management. We consider professional center management to be the key to the success of a shopping center. In addition to guaran- teeing standard opening hours and a consistently friendly, bright, safe and clean shopping environment, the center management can make use of unusual dis- plays, promotions and exhibitions to turn shopping into an experience. As a long-term average, between 500,000 and 600,000 people visit our 21 centers on average every day and are captivated by not only the variety of sectors represented but also our wide range of thematic exhibitions, casting shows, fashion shows and attractions for children. As a result, the shopping centers become lively marketplaces where there is always something new and spectacular on offer. In addition, we are constantly adding new prod- ucts and services that are being developed as part of the ongoing integration of bricks-and-mortar retailing and online shopping sites, for example Digital Mall, and that further enhance the shopping experience and level of service for our customers. Some of these include Click & Collect and shop delivery services. WORKING METHODS OF THE EXECUTIVE AND SUPERVISORY BOARDS The strategic orientation of the Company is coordi- nated between the Executive Board and the Super- visory Board, and the progress of strategy imple- mentation is discussed at regular intervals. The Executive Board is required to inform the Supervi- sory Board regularly, promptly and in detail of busi- ness developments. The Executive and Super- the Company’s net visory Boards examine assets, financial position and results of oper- ations, as well as its risk management, reg- ularly and in detail. In this context, the formal conditions for implementing an efficient system of managing and monitoring the Company are checked, as is whether the means of supervision are effective.

Deutsche EuroShop / ESG Report 2021 The significant factors affecting the business are determined by the Executive Board, which notifies the Supervisory Board. The committees advise on the development of the portfolio properties, their turnover trends, accounts receivable, occupancy rates, construction measures and liquidity, as well as investment cost trends for our new development projects. The sales trends and payment patterns of tenants are observed in detail so that consequences can be drawn from these at an early stage wherever required. New investment opportunities are examined by the Executive Board and, if necessary, presented to the Supervisory Board at regular Supervisory Board meetings. Investment decisions are made by the Executive Board and then submitted to the Super- visory Board for approval within the framework of a decision paper. Moreover, the Executive and Supervisory Boards dis- cuss developments on the capital and credit markets as well as the effects of these not only on the Compa- ny’s strategy but also in terms of raising equity and obtaining borrowed capital. The Supervisory Board and its committees also dis- cuss other topical issues with the Executive Board as required. Transactions requiring the approval of the Supervisory Board are discussed and resolved upon at the scheduled meetings. Online retailing, its impact on footfall and sales in centers and the countermeas- ures taken to combine the strategic advantages of our shopping centers with the opportunities afforded by e-commerce are becoming increasingly impor- tant in Executive Board reporting. In financial year 2021, like in the previous year, discussions and deci- sions were focused on the short-term and expected medium-term impacts of the COVID-19 pandemic. In addition, legal changes within our Company are dis- cussed between the Executive Board and the Super- visory Board at an early stage and any changes that are potentially required to meet legal requirements are prepared. For transactions requiring approval, conference calls are also conducted with the Supervisory Board or its committees and circular resolutions are passed in writing. C O R P O R AT E G OV E R N A N C E 2021 The Government Commission for the German Cor- porate Governance Code adopted a fundamentally amended German Corporate Governance Code on 16 December 2019, which came into force on 20 March 2020. THE EXECUTIVE BOARD AND THE SUPERVISORY BOARD The Supervisory and Executive Boards performed their statutory duties in financial year 2021 in accord- ance with the applicable laws and the Articles of Association. The strategic orientation of the Com- pany was coordinated between the Executive Board and the Supervisory Board, and the progress of strat- egy implementation was discussed at regular inter- vals. The Supervisory Board was informed regularly, promptly and in detail of business developments and the risk situation by the Executive Board. Detailed information on the main areas of focus of the Super- visory Board’s activities in financial year 2021 can be found in the 2021 Annual Report of Deutsche EuroShop AG. In financial year 2021, there were no advisory or other contracts for work or services in existence between members of the Supervisory Board and the Company. REMUNERATION SYSTEM AND REMUNERATION REPORT The applicable remuneration system for the mem- bers of the Executive Board in accordance with Sec- tion 87a (1) and (2) sentence 1 of the Aktiengesetz (AktG – German Public Companies Act), which was approved by the Annual General Meeting on 18 June 2021, and the resolution adopted by the Annual Gen- eral Meeting on 18 June 2021 in accordance with Section 113 (3) AktG on the confirmation of remu- neration and on the remuneration system for the members of the Supervisory Board are available to the public on the Deutsche EuroShop AG website at www.deutsche-euroshop.com. The remuneration report for financial year 2021 and the auditor’s report pursuant to Section 162 AktG will be made available to the public at the same Internet address. 28

29 Corporate Governance 2021 The remuneration report for financial year 2021 and the auditor’s report in accordance with Section 162 AktG also form part of the 2021 Annual Report of Deutsche EuroShop AG. This is also available at the above Internet address. COMPOSITION AND DIVERSITY Super visor y Board In 2015, the Supervisory Board added a diversity con- cept to the goals specified in 2012 for its composi- tion, both of which were confirmed in 2017 and last updated in 2019. The Supervisory Board gears itself towards the needs of a listed company with a small staff base which makes long-term investments with high capital requirements. In view of this, the inten- tion is for the Supervisory Board to be primarily com- posed of independent members of both genders who have special knowledge and experience of the retail trade, the letting of retail space, the management of shopping centers, the equity and debt financing of listed real estate companies, of accounting principles and internal control processes in accordance with German and /or international regulations, and of cor- porate governance, law and business management. It is intended that the proportion of women on the Supervisory Board is at least 30 %. The upper age limit for members of the Supervisory Board is 70. The Supervisory Board also takes the view that profes- sional qualifications and skills should be the key crite- ria for its members. For that reason, no rule has been adopted as to the length of time for which members may serve on the board. Since 2015 the Company has disclosed the skills pro- vided by the individual members of the Supervisory Board in the nomination process for the elections to the Supervisory Board. The current competence matrix is as follows: Reiner Strecker Karin Dohm Dr Anja Disput Henning Eggers Dr Hen- nig Kreke Alexan- der Otto Claudia Plath Klaus Striebich Roland Werner Retail sector Real estate Business management Accounting Funding Capital market Law Corporate governance x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x The German Corporate Governance Code states that a member of the Supervisory Board “is not deemed independent if they have a personal or business relationship with the Company, its governing bod- ies, a controlling shareholder or an associate thereof that could give rise to a material conflict of interest which is more than temporary”. In 2015, the Supervi- sory Board of Deutsche EuroShop AG stipulated that the materiality criterion does not apply to tenants accounting for less than 1% of Group rental income. This is the case for Roland Werner, Chair of the Management Board of Bijou Brigitte Modische Acces- soires AG, a tenant operating a total of some 1,000 shops. Twenty-one of these are located in shopping centers of Deutsche EuroShop AG. Based on its own assessment, the Supervisory Board continues to have an adequate number of independent members. Five of the nine Supervisory Board mem- bers are independent. These are Reiner Strecker, Karin Dohm, Dr Anja Disput, Roland Werner and Klaus Striebich.

Deutsche EuroShop / ESG Report 2021 The length of service on the Supervisory Board ranges from 2.5 to 19.5 years, the average being almost eight years (as at 31 December 2021). Name Reiner Strecker Karin Dohm Klaus Striebich Alexander Otto Dr Henning Kreke Henning Eggers Dr Anja Disput Claudia Plath Roland Werner Average: Function Chairman Since 13.07.2012 Deputy Chair- woman and Financial Expert 13.07.2012 13.07.2012 18.06.2002 20.06.2013 12.06.2019 12.06.2019 12.06.2019 18.06.2015 Until the AGM, which will decide on... 2021 2021 2021 2022 2022 2023 2023 2023 2024 AGM in 2022 2022 2022 2023 2023 2024 2024 2024 2025 Membership (years) on the Supervisory Board as of December 2021 9.5 9.5 9.5 19.5 8.5 2.5 2.5 2.5 6.5 7.8 The Supervisory Board assesses its effectiveness and that of its committees (self-assessment) every two years on the basis of a questionnaire. The mem- bers of the Supervisory Board have the opportunity to express criticism, make suggestions and propose improvements. The efficiency review has potential implications, which are discussed on the Supervi- sory Board and, where necessary, implemented in the Supervisory Board’s work. The last self-assessment took place in January 2021. No deductible is provided for the D&O insurance pol- icy of the Supervisory Board. In the Executive Board and Supervisory Board’s view, a deductible has no effect on the sense of responsibility and loyalty with which the members of these bodies perform the duties and functions assigned to them. The Supervisory Board supervises and advises the Executive Board in its management activities in accordance with the provisions of German company law and its rules of procedure. It appoints mem- bers of the Executive Board, and significant busi- ness transacted by the Executive Board is subject to its approval. The Supervisory Board is composed of nine members, who are elected by the Annual General Meeting. The Supervisory Board has established the notifica- tion and reporting duties to be met by the Executive Board. In addition to a three-member Supervisory Board Executive Committee (which also functions as a nomination committee), an Audit Committee and a Capital Market Committee were established (each also consisting of three members). 30

31 Corporate Governance 2021 The members of the Supervisory Board are: • Reiner Strecker, Chair • Karin Dohm, Deputy Chair • Dr. Anja Disput • Henning Eggers • Dr. Henning Kreke • Alexander Otto • Claudia Plath • Klaus Striebich • Roland Werner Mr Strecker, Ms Dohm and Mr Eggers are members of the Supervisory Board Executive Committee. The Executive Committee is chaired by the Chairman of the Supervisory Board. The Committee discusses urgent business matters and passes relevant resolu- tions. Moreover, it is responsible for preparing human resources issues concerning the Executive Board and for reviewing the Company’s corporate governance principles. The Executive Committee of the Super- visory Board also fulfils the role of a nomination committee. The Audit Committee consists of Ms Dohm as Finan- cial Expert and Chair as well as Mr Eggers as sec- ond Financial Expert and Mr Strecker. It is responsible for issues relating to financial reporting, auditing and the preparation of the annual and consolidated finan- cial statements. It supervises the audit and assesses the quality of the auditor’s work as well as the effec- tiveness of the internal control and risk management systems. Former members of the Company’s Execu- tive Board and the Chairman of the Supervisory Board generally do not chair the Audit Committee, to avoid conflicts of interest. Ms Dohm qualifies as a financial expert in both accounting and auditing through her education (tax consultant since 2002 and auditor since 2005) and her professional activities. Her professional activities at Deloitte & Touche included the annual audit of listed companies from 1997 to 2011. From 2011 to 2020, she held various roles in the Deutsche Bank Group, includ- ing responsibility for accounting at the Group and at the transaction bank. Since 2021, she has been Chief Financial Officer of a listed group. Mr Eggers qualifies as a financial expert in both accounting and auditing through his education (tax consultant since 1999) and his professional activi- ties as an employee and tax consultant at PKF Fas- selt Schlage Wirtschaftsprüfungsgesellschaft (1995- 2000). Since 2013, Mr Eggers has been a member of the management board of KG CURA Vermögensver- waltung G.m.b.H & Co., where he is responsible for accounting and finance. Mr Eggers, Dr Kreke and Mr Strecker are members of the Capital Market Committee. The Capital Market Committee is chaired by Mr Eggers. The position of Deputy Chairman is held by Mr Strecker. The Super- visory Board’s powers relating to the utilisation of approved capital and conditional capital were trans- ferred to the committee for decision-making and pro- cessing. In addition, decisions on the approval of the Supervisory Board for loan agreements are also del- egated to this committee in individual cases if these meet the criteria of a transaction requiring approval. Executive Board The Executive Board of Deutsche EuroShop AG man- ages the Company in accordance with the provisions of German company law and with its rules of proce- dure. The Executive Board’s duties, responsibilities and business procedures are laid down in its rules of procedure and in its schedule of responsibilities. The chief management duties of the Executive Board are the management of the Group and the determina- tion of its strategic orientation and planning, and the establishment, implementation and monitoring of risk management. The diversity concept of the Supervisory Board for the Executive Board which originated in 2015 was given concrete shape and expanded in April 2017. It proposes that the Executive Board should con- sist of members of both sexes with a proportion of women of at least 30 %. The composition of the Exec- utive Board should be geared towards the needs of a listed company with a small staff base. This should take into account the requirements of accounting with high capital investment as well as the largely national activities in long-term investment in retail properties. The members of the Executive Board are expected to

Deutsche EuroShop / ESG Report 2021 have knowledge and experience in the application of accounting principles and internal control procedures according to German and /or international accounting standards, in the retail trade as well as in the man- agement of shopping centers, in equity and debt financing, capital market, corporate governance, cor- porate and personnel management, corporate acqui- sitions and mergers, and in the purchase and sale of real estate. The focal points of knowledge and experi- ence should complement each other. Together with the Executive Board, the Supervisory Board ensures long-term succession planning. The Supervisory Board devotes particular attention to the deferred end of the terms of office of the two Execu- tive Board members in combination with their respec- tive experience and areas of expertise. Discussions and negotiations for potentially extending terms of office begin at least one year before the end of the current term of office so that internal and external successors can be appointed. The upper age limit for members of the Executive Board is 60. As of 31 December 2021, the Executive Board of Deutsche EuroShop AG comprised two members. Wilhelm Wellner Born 8 March 1967 First appointed: 2015 Appointed until: 30 June 2025 Wilhelm Wellner joined Deutsche EuroShop in 2015, initially as a member of the Executive Board, and assumed his present position as CEO on 1 July 2015. He is also a managing director and director at various companies in the Deutsche EuroShop Group. Olaf Borkers Born 10 December 1964 First appointed: 2005 Appointed until: 30 September 2022 Olaf Borkers joined Deutsche EuroShop AG in 2005 as a member of the Executive Board. He is also a manag- ing director and director at various companies in the Deutsche EuroShop Group, and is responsible for ESG issues (environmental, social and governance) on the Executive Board. Quota of women The Supervisory Board and the Executive Board took into consideration the Act on the Equal Participation of Women and Men in Executive Positions in the Pri- vate and Public Sector that entered into force in 2015, and defined corresponding quotas. A quota of women of at least 30% was set for the Supervisory Board and the Executive Board. The Executive Board also set the same target for the management levels below the Executive Board. Given that there are five employees in total, there is only one management level. Since the quota was established in 2015, the target for the nine-member Supervisory Board has been met with three female members. The quota of women on the two-member Executive Board as of 31 December 2021 was 0%. In March 2021, Mr Wellner’s term in office on the Executive Board, which was due to end on 31 Decem- ber 2021, was extended until 30 June 2025 in view of his performance and qualifications. Continuity and experience gained with the business model are also important to the Company’s success, in particular during difficult periods. The expansion of the Execu- tive Board to three members is neither appropriate nor reasonable due to the low number of employees and to the specifics of a holding company. The quota of women in the first management level below the Executive Board, which also consists of two people, also stood at 0% on 31 December 2021. 32

33 Corporate Governance 2021 SHAREHOLDINGS Executive Board As at 31 December 2021, the Executive Board held a total of 8,500 shares, less than 1% of Deutsche EuroShop AG’s share capital. Super visor y Board As at 31 December 2021, the Supervisory Board held a total of 12,421,462 shares, and hence more than 1% of Deutsche EuroShop AG’s share capital. In addition to the general statutory provisions requir- ing public disclosure, the rules of procedure of the Executive Board and of the Supervisory Board gov- ern the reporting duties of Executive and Supervisory Board members in the event of dealings involving shares in the Company or related rights of purchase or sale, as well as rights directly dependent on the Company’s share price. Directors’ dealings No securities transactions by members of the Execu- tive Board or of the Supervisory Board or by certain persons related to members of the executive bodies were notified to Deutsche EuroShop AG during finan- cial year 2021 in accordance with Section 15a of the Wertpapierhandelsgesetz (WpHG – German Securi- ties Trading Act). RELATIONSHIPS WITH SHAREHOLDERS Shareholders exercise their rights in matters con- cerning the Company at the Annual General Meet- ing. The Annual General Meeting elects the members of the Supervisory Board and passes resolutions approving the actions of the Executive and Super- visory Boards. It decides on the utilisation of the unappropriated surplus and amendments to the Company’s Articles of Association. The Annual Gen- eral Meeting, at which the Executive and Super- visory Boards give an account of the past finan- cial year, takes place once a year. When resolutions are adopted at the Annual General Meeting, each share confers entitlement to one vote in line with the principle of “one share, one vote”. All sharehold- ers are entitled to attend the Annual General Meet- ing and to speak and submit questions about items on the agenda. The COVID-19 Mitigation Act allowed companies to hold a virtual Annual General Meeting again in financial year 2021 to avoid the risk of infec- tions. In this context, the rights of shareholders were partially restricted. Our Company again held a virtual Annual General Meeting in June 2021. In doing so, the management endeavoured to ensure maximum trans- parency: In the run-up to the Annual General Meeting, the speech of the Executive Board was published on the Internet three days before the end of the period for submitting questions, and at the Annual General Meeting all questions were answered in detail by the management. A key item on the agenda of this Annual General Meet- ing in June 2021 was the resolution on the approval of the remuneration system for the members of the Executive Board. The shareholders approved the new remuneration system with a majority of 93.45 % of the votes cast. Deutsche EuroShop reports to its shareholders and to the public on the Company’s business performance, financial position and results of operations four times a year in line with a financial calendar. Press releases also inform the public and the media of Company activities directly. Information that may materially influence the Company’s share price is published in the form of ad hoc disclosures in accordance with the statutory requirements. The Executive Board gives regular presentations to analysts at physical and virtual conferences and at investor events as part of the Company’s inves- tor relations activities. Analyst conferences on the release of the annual and quarterly financial state- ments are streamed on the Internet, where they are available to anyone interested in the Company. In addition, Deutsche EuroShop AG provides financial information and other information about the Deutsche EuroShop Group on its website.

Deutsche EuroShop / ESG Report 2021 At the Annual General Meeting on 18 June 2021, BDO AG Wirtschaftsprüfungsgesellschaft was elected as the statutory auditor and Group auditor for financial year 2021. BDO AG Wirtschaftsprüfungsgesellschaft has audited the annual and consolidated financial statements of Deutsche EuroShop AG from 2005 to 2021 without interruption. The responsible auditors within the audit company have changed several times during the above-mentioned period. With the 2021 annual financial statements, the auditor Olaf Oleski performed his second audit of the annual financial statements of our Company and served as lead audi- tor for the first time. BDO also provided other consul- tancy services for our Company in financial year 2021 in the amount of €4,000. OUTLOOK The terms of office of Reiner Strecker, Karin Dohm and Klaus Striebich will end at the Annual General Meeting on 23 June 2022. COMPLIANCE MANAGEMENT The Executive Board has set up a compliance man- agement system suitable for a holding company and gives appropriate consideration to legal and corpo- rate governance requirements at a key affiliated ser- vice provider. In financial year 2019, the compliance management system and the internal control system (ICS) were adapted in particular to the requirements of ARUG II (Act on the Implementation of the Share- holders’ Rights Directive), which came into force on 1 January 2020. The Company set up a whistleblower system for the collection of anonymous internal and external information in the first quarter of 2018. ACCOUNTING AND AUDITS The Deutsche EuroShop Group prepares its finan- cial statements according to International Finan- cial Reporting Standards (IFRS) on the basis of Sec- tion 315a of the Handelsgesetzbuch (HGB – German Commercial Code). The annual financial statements of Deutsche EuroShop AG will continue to be prepared in line with the accounting provisions of the HGB. The Executive Board is responsible for preparation of the financial statements. The Chairwoman of the Audit Committee commissions the auditor of the annual financial statements, as elected by the Annual Gen- eral Meeting. The stricter requirements for auditor independence are met in this process. Pigeon house on the roof of the Main-Taunus Center 34

35 Corporate Governance 2021 D EC L A R AT I O N O F C O N FO R M I T Y Gazette (Bundesanzeiger) on 4 July 2003, and as last amended on 16 December 2019), subject to a limited number of exceptions as indicated below. In February 2022, the Executive and Supervisory Boards of the Company jointly submitted their updated declaration of conformity with the recommenda- tions of the Government Commission on the German Corporate Governance Code for financial year 2022 in accordance with Section 161 of the Aktiengesetz (AktG – German Public Companies Act). The declaration was made permanently available to the public on the Company’s website at www.deutsche-euroshop.de. Joint declaration by the Executive and Super visory Boards of Deutsche EuroShop AG relating to the The consolidated ﬁnancial statements are published within 120 days of the end of the ﬁnancial year (Code Section F.2). It is important to the Company to publish audited financial statements that have been approved by the Supervisory Board. An earlier publication date is not feasible due to the schedules for the prepara- tion, auditing and adoption of the financial statements. Unaudited data of relevance to the capital market are published in advance. recommendations of the Government Commission Hamburg, 15 February 2022 on the German Corporate Governance Code in accordance with Section 161 AktG The Executive Board and the Supervisory Board of Deutsche EuroShop AG declare that the Company has complied with, and will continue to comply with, the recommendations of the Government Commission on the German Corporate Governance Code (as pub- lished by the German Federal Ministry of Justice in the official section of the electronic German Federal The Executive Board and the Supervisory Board Deutsche EuroShop AG

Deutsche EuroShop / ESG Report 2021 M E M B E R S H I P S A ND REC O GNISE D C O D E S Deutsche EuroShop is a member of various associations whose guiding principles we also follow and whose codes we comply with. Z I A The Zentraler Immobilien Ausschuss (ZIA – German Property Federation) is the driving force of the German real estate industry and an intermediary to political decision-makers. It promotes and assists with appropriate measures to safeguard and improve the real estate industry’s economic, legal, fiscal and political environment. The members of the ZIA want to achieve the social goals together through effective measures. The basis for this is the ZIA ESG Charter, which makes statements on the importance, voluntary commitments, activities, and transparency and monitoring of the real estate industry on ESG issues. The ZIA has drawn up a code of conduct on the subject of diversity, which Deutsche EuroShop also follows. www.zia-deutschland.de Our commitment to diversity is based on the ten core points of the ZIA Diversity Code, which in turn is based on the Diversity Charter. DIVERSITY AS PART OF OUR IDENTITY – THE REAL ESTATE INDUSTRY CODE 1. We are aware of the major importance of diversity as an issue in the real estate industry and accept the associated social responsibility. 2. Diversity as defined by the “Diversity Char- ter” is an integral part of our companies’ value systems, strategies and structures. 3. We do not tolerate discriminatory behaviour. 4. Diversity that is lived out in companies opens up opportunities and options for innovative and creative entrepreneurial solutions – due to the diversity of employees with their differ- ent backgrounds, skills and talents – and is an indispensable component of value-oriented corporate management. 36

37 Memberships and recognised codes 5. We foster an organisational culture char- acterised by mutual respect and appreci- ation. We create the conditions for manag- ers and employees alike to recognise, share and exemplify these values. Managers have special obligations in this regard. 6. We want to raise our employees’ awareness of diversity and involve them in its implemen- tation, especially when they are inducted into the company. Diversity training includes rais- ing awareness of issues related to diversity and developing diversity management skills. 7. We develop measures for sustainable diversity management. We want to achieve continuous improvements in the implementation of these measures beyond the minimum legal require- ments and therefore set an example. 8. We pursue the goal of establishing and fur- ther developing appropriate industry stand- ards and measure ourselves against these. We aim to publicly report on our activities and progress in promoting diversity and apprecia- tion at regular intervals. 9. We promote and ensure equal opportunities and diversity – especially in the real estate industry’s management bodies. 10. In our public relations work, we communi- cate transparently and comprehensively the importance and implementation of the subject of diversity in our companies. I C G The Institute for Corporate Governance in the German Real Estate Industry (ICG) is committed to value-ori- ented, sustainable corporate governance. ICG mem- bers share the belief that economic value and val- ues, compliance with the law and personal integrity, and economic, legal and social responsibility together form the basis of business success and a good repu- tation for the industry. www.icg-institut.de In line with the requirements of the ICG, our principles of value-driven management are based on the follow- ing ten core points: PRINCIPLES OF VALUE-ORIENTED CORPORATE MANAGEMENT IN THE REAL ESTATE INDUSTRY 1. Sustainable value creation: The companies are committed to the goal of sustainable manage- ment and also take into account their associ- ated groups (stakeholders). This includes all three components of social, economic as well as ecological sustainability. The aim is also to achieve a high level of diversity in the work- force. Stakeholders include investors, share- holders, business partners, tenants, employ- ees and the general public. 2. Value-based corporate governance: Integrity, professionalism, transparency and sustaina- bility characterise our corporate actions. 3. Avoiding conflicts of interest: The companies take effective precautions to communicate potential conflicts of interest transparently and avoid them as far as possible.

G C S P The German Council of Shopping Places (GCSP) is the only nationwide association representing the inter- ests of the commercial real estate industry. More than 750 member companies in the fields of devel- opment and analysis, financing, center management, architecture, commercial real estate, retail and mar- keting make up an active association of interests here as an ideal networking base for commercial real estate players. With about one million employees and directly related service providers, GCSP member companies are a nationally significant industry. Deutsche EuroShop is committed to the recommen- dations of the “Code of Conduct”, which was formu- lated by well-known representatives of the retail and commercial real estate industries under the modera- tion of the German Council of Shopping Places as joint guidelines for cooperation during the coronavirus cri- sis. The goal of the “Code of Conduct” is to ensure fair and cooperative dealings between tenants and land- lords in order to achieve a balanced share of the bur- den – and a strong bricks-and-mortar retail sector in the future as well. www.gcsp.de Deutsche EuroShop / ESG Report 2021 4. Expert bodies: The companies are man- aged by professionally qualified and well-in- formed management, supervisory and advi- sory bodies. 5. Continuous training: The companies ensure the ongoing training and development of their employees. The aim is to ensure compli- ance with the principles of sustainable man- agement at all operational levels. This also includes members of management and super- visory and advisory bodies. 6. Modern risk management: The companies implement a risk management system that can adequately represent entrepreneurial activities and prepare decisions. These include controlling instruments and a binding compli- ance management system. 7. Final audit of financial statements: The com- panies’ financial statements are audited by independent and qualified auditors. Re-ten- dering should be done on a regular basis. 8. Transparent real estate appraisals: Real estate assets are appraised by independent and qualified experts. The appraisal is ade- quately explained. 9. Comprehensible business model: The compa- nies’ business model, organisational structure and shareholdings are presented in detail, clearly and comprehensibly on its website, in advertising brochures and investor infor- mation, and in other corporate presentations. Changes are appropriately explained. 10. Fair communication: The information policy is guided by the principles of transparency, cred- ibility and clarity. 38

39 Memberships and recognised codes E P R A D I R K The Deutscher Investor Relations Verband (DIRK – German Investor Relations Association) is the largest European professional association for the connection between companies and capital markets. As an inde- pendent authority, it optimises the dialogue between issuers, capital providers and the relevant intermedi- aries and draws up professional quality standards for this purpose. www.dirk.org The European Public Real Estate Association (EPRA), based in Brussels, is the mouthpiece of the listed European real estate sector. Listed real estate companies are the custodians of many of the high- est-value assets in our cities, from office complexes to shopping centers to healthcare and senior liv- ing facilities. Listed companies are also pioneering sustainability in the built environment to meet their responsibilities to local communities and sharehold- ers’ demands when it comes to future-proofing their investments in the face of the global challenge of cli- mate change. EPRA promotes investments in listed real estate companies by providing better information to investors, improving the general framework, sup- porting best practices and strengthening the sector. www.epra.com EC S P The European Council of Shopping Places (ECSP) is the European voice of an industry that plans, designs, finances, develops, builds and manages shopping centers throughout Europe. The association’s mem- bers are a catalyst for sustainable urban renewal and serve an important civic function in virtually every European community. ECSP advocates at the Euro- pean level for the critical economic and social impor- tance of retail and mixed-use sites, bringing together the entire value chain of those who invest in, cre- ate, manage and support these places and destina- tions. In doing so, the association promotes a sustain- able and level playing field for all market players and stakeholders. www.ecsp.eu City-Point, Kassel

Deutsche EuroShop / ESG Report 2021 AWA R D S , C E R T IF I C AT E , R AT IN GS E P R A S US TA I N A B I L I T Y R E P O R T I N G C E R T I F I C AT E S 2021 saw Deutsche EuroShop awarded the EPRA sBPR Award in “Gold” by the European Public Real Estate Association (EPRA) for the fifth time in a row. The EPRA Sustainability Best Practices Recommendations (sBPR, see p. 4) are intended to improve the standards and consistency of sustainability reporting for listed real estate companies across Europe. Each year, EPRA honours companies that have published the best annual sustainability report in their class. Companies are awarded Gold, Silver or Bronze based on compliance with the EPRA sBPR in their reporting. See www.epra.com/sustainability/sustainability-reporting/ sbpr-awards for more information. TÜV Süd has certified the electricity used in Deutsche EuroShop’s German centers with the prestigious “Ökostrom” green electric- ity label (see p. 14). The German Sustainable Building Council (DGNB) has awarded sustain- ability certificates to all 21 Deutsche EuroShop shopping centers, 11 in Gold and 10 in Platinum (see p. 12). R AT I N GS Deutsche EuroShop has participated in the Carbon Disclosure Project (CDP) since 2010 and reports the environmental data per- taining to its portfolio. The following institutions regularly analyse Deutsche EuroShop with regard to its ESG factors: Gaïa Research, ISS ESG, MSCI ESG Ratings, S&P Global Corporate Sustainability Assessment and Sustainalytics. 40

41 Awards, Certificate, Ratings / Legal L EGA L Published by Deutsche EuroShop AG, Heegbarg 36, 22391 Hamburg Phone: +49 (0)40 - 41 35 79 0, Fax: +49 (0)40 - 41 35 79 29 www.deutsche-euroshop.com, ir@deutsche-euroshop.com Art Direction & Design Silvester Group, Hamburg Translation Lionbridge D I S C L A I M E R Information on wording: Wherever any terms indi- cating the male gender only (he, him, etc.) have, in the interests of simplicity, been used in this ESG Report, such references should be construed as referring equally to the female gender. Trademarks: All trade- marks and brand or product names mentioned in this ESG Report are the property of their respective owners. Rounding and rates of change: Percentages and figures stated in this report may be subject to rounding differences. The prefixes before rates of change are based on economic considerations: represent estimates based on all of the information available at the current time. If the assumptions on which these statements and forecasts are based do not materialise, the actual results may differ from those currently being forecast. Publications for our shareholders: Annual Report/Financial Report (in English and German), Quarterly Statement 3M, Quar- terly Statement 9M and Interim Report H1 (in Eng- lish and German). Online Annual Report and Online ESG Report: The Deutsche EuroShop ESG Report can be downloaded in PDF format or accessed as improvements are indicated by a plus (+); deteriora- an interactive online report at deutsche- euroshop. tions by a minus (–). Forward-looking statements: com. This ESG Report is also available in German. In This ESG Report contains forward- looking state- the event of conflicts the German-language version ments based on estimates of future developments by shall prevail. the Executive Board. The statements and forecasts