MAGAZINE ´21 feelestate.de T N E M N A T L I I A T E R

01 Key Figures / Values and Goals / Contents / I N H A LT CONTENTS 2021 Key Figures Letter to shareholders SHOPPING Golden times?! Making shopping an experience Blazing the trail with fresh ideas „What I bought myself in 2021“ CENTER Our portfolio Activities in the Centers Center Overview U2 02 08 20 26 30 32 44 46 INVESTOR RELATIONS The Shopping Center Share Financial Calendar 2022 10 reasons to invest in Deutsche EuroShop shares Marketing SERVICE Glossar Multi-year overview & Quarterly figures 2021 Impressum & Disclaimer 56 58 62 64 68 71 72 OUR VALUES OUR GOALS We are the only public company in Germany that invests solely in shopping centers in prime locations. We invest only in carefully chosen properties. High quality standards and a high degree of flexibility are just as important to us as sustained earnings growth from index- and turnover-linked rental contracts. In addition, we boast a higher than average occupancy rate and professional center management – these are the pillars of our success. Deutsche EuroShop does not seek short-term success, but rather the stable increase in the value of our portfolio. Our objective is to generate a sustainably high surplus liquidity from the longterm leasing of our shopping centers to distribute an attractive divi- dend to our shareholders. In order to achieve this, we shall acquire further prime properties and hence establish ourselves as one of the largest companies in Europe focusing on retail properties.

03 Letter to shareholders / I N H A LT Wilhelm Wellner (left) and Olaf Borkers

05 Letter to shareholders / I N H A LT Our total assets amounted to €4.3 billion at the end of the reporting year. This was a slight increase of €41.4 million compared with the reporting date at the end of 2020. Consolidated liquidity was €328.8 million as at 31 December 2021, an increase of €62.8 million. Alongside the normalisation of tenant payment behav- iour, this build-up of cash and cash equivalents was additionally influenced by the postponement of invest- ments in our properties, as work was largely halted during the lockdowns. Our equity ratio remained strong at 55.6% and con- solidated loan to value (LTV) was 30.5 %. The LTV (“look-through”) calculated in full proportion to the Group’s share of total assets was 33.3 %. Most retailers recognise that bricks-and-mor- tar retail spaces are and will remain a very impor- tant and dominant part of their market presence. Demand for bricks-and-mortar retail space is contin- uing to recover. But given the situation over the past two years, it is still a long way off its pre-coronavi- rus level. In 2021, a total of 355 leases for around 118,000 m² were newly concluded or extended for our portfolio. Of these, 103 deals (28,700 m²) were attributable to our foreign centers. In Germany, in terms of the num- ber of contracts, 46% were concluded with a term of 1-4 years, 24% with a term of 5-9 years a further 30 % with a term of 10 years or longer. Outside Germany, the corresponding figures were 50 %, 18 % and 32 %. EXCITING NEW TENANTS HAVE OPENED STORES IN OUR CENTERS IN RECENT MONTHS. One example is a new IKEA store concept in the City- Galerie Wolfsburg, where visitors can configure their kitchen or a wall unit with the help of IKEA employ- ees and then order it directly. In the Altmarkt-Galerie Dresden, a new Lego store is attracting lots of new young and – encouragingly – also older customers to the center. At the Rathaus-Center Dessau, the Scan- dinavian concept Rusta will move into the former Kar- stadt space, bringing back many product ranges that were lost when the department store closed its doors in the city. Another internationally renowned anchor tenant has also been secured for the center and will be announced shortly. It is a remarkable achievement that the location has attracted such new, desirable anchor tenants so quickly. EPRA NTA INCREASED TO €38.43 PER SHARE, UP 2.8%. EPRA net tangible assets (EPRA NTA) increased to €38.43 per share, up 2.8 %, mainly due to higher liquidity and partially offset by lower property values. This corresponds to a still significant discount of the current share price to EPRA NTA and a double-digit FFO yield – what is more, at a very solid LTV level. In our view, the improved figures, the waning effects of the pandemic and the operating outlook should help to close this gap. However, the war in Ukraine is also having a negative impact on capital markets. With regard to financing: As at 31 December 2021, our consolidated debt bore interest at an average rate of 2.09 %, and the weighted remaining maturity of our loan portfolio was 4.7 years. Including the loans of our investments accounted for using the equity method, the weighted residual term was 4.9 years, with an average interest rate of 2.07 %. The loans due for fol- low-up financing by 2025 bore interest rates of 2.99 % to 3.26%. We still see opportunities here to further reduce our interest expense. We will now take a more detailed look at our leasing performance over the past year. Even during the pan- demic, we were able to extend leases with many ten- ants, including our top 10 tenants and other top retail- ers such as Apple, Kaufland, H& M, Rossmann, Thalia and C& A. In addition, we are in negotiations with fur- ther large and well-known anchor tenants who want to move into our shopping centers for the first time. In some cases, we have already been able to arrange with them to relocate to our centers from other retail spaces in the neighbourhood. Despite this good pro- gress, we are still in the midst of the pandemic.

07 Letter to shareholders / I N H A LT City Point, Kassel

09 Golden times?! / S H O P P I N G G O L D E N T I M E S ? ! The pandemic has not only changed things in Germany in general, but also and especially in the retail sector. After a couple of difficult years, however, shopping centers could now be on the verge of a new and unexpected dawn: the magic word is “the third place” … TEXT: JENS-STEFAN HÜBEL

11 Golden times?! / S H O P P I N G The definition of the “third place” comes from U.S. sociologist Ray Oldenburg, who first presented these ideas in his 1989 work “The Great Good Place”. In this, Oldenburg theorised that this “third place” should have eight typical characteristics: 1. It is located on “neutral” ground. Anyone can go there – and leave as they please. 2. It is open to all sections of the population and 4. It is easy to reach. 5. There are lots of regulars there. 6. The look is of secondary importance; what is important is the function of the place. 7. There is a lively atmosphere. Oldenburg called it “playful”. Serious topics should be left at the door. social classes. 8. It was supposed to be a kind of “second home”, a kind of “second family”. 3. Communication is desired – and is a clear goal.

13 Golden times?! / S H O P P I N G Now you might think: TV, illusion – nonsense. But the phenomenon shows that people consciously seek – and have always sought – such places. In the Middle Ages, it was the marketplace or the tavern. In the countryside or in small towns, today it is sometimes still the hairdresser, the baker or the butcher. In big cities, the role may be filled by a trendy bar, a park (e. g. Central Park in New York), an urban gardening project, an entire district (e. g. Sternschanze in Ham- burg) – or even a shopping center. And that brings us to the heart of the matter. “IT WAS THE DUMBEST THING THAT PEOPLE COULD HAVE DONE AT THE TIME,” RAY OLDENBURG SAYS. “THIS SINGLE-USE ZONING RUINED THE SENSE OF COMMUNITY ...” Is the “classic” shopping center really a “third place”? Has it always been one? Or rather, has it never been one? Do such centers already exist – or do they have to be developed first? And, if they do exist, then what is their recipe for success? How do they attract people (and therefore sales)? And how closely are they con- nected to their customers? A gaze across the pond to the USA, Ray Oldenburg’s home country, and to the history of shopping centers helps put this in perspective. In America of the 1930s and 1940s, just as in Europe, people met at the afore- mentioned libraries and theatres, at the barbershop or at the local café. Everyone was in their own little neighbourhood – or “hood”, as you might call it today. Then, after the Second World War, in the 1950s, a real building boom began in the USA – especially in the metropolitan regions. More and more new suburbs emerged, millions of individual houses were built, and cities grew exponentially. And all the people who moved to these suburbs found a new home with a garden, their own four walls and a parking space out- side their front door. But, in exchange, they lost the proximity to their “third places”. 3. MEN’S FASHION TREND: LOUNGEWEAR COMFY FOR THE WIN! We’ve all been there before: video call at 9 a. m. Alarm clock: 8.50 a. m. 8.55 a. m.: pyjamas off, cosy sweater on. 8.59 a. m.: laptop flung open and ready to go! The pandemic, while tedi- ous in many ways, was delightfully straightforward when it came to styl- ing and timing. Now, however, more and more people are heading back to the office. And it’s time to dig out our jackets, shirts and suit trousers from the back the closet – only to find that often they no longer fit because of those few extra corona- virus kilos. And that’s before we even talk about convenience. So, a clothing compro- mise is urgently needed! More specif- ically, men now need a fashion trend that is both comfortable and suitable for business. Of course, fashion giants like ZARA and H&M have recognised this and are now presenting the hottest menswear trend for 2022: loungewear! Comfortable, casual, but also suita- ble for the office: broad jackets, loose- fitting (jogger) pants with elastic waist- bands. Nothing pinches and nothing constricts. Another plus: you can also wear it from day to night and look great! COMFY FOR THE WIN!

15 Golden times?! / S H O P P I N G Two subway stops were located right outside the door, and a large parking garage meant that it was easy to get there in your own vehicle. The centers that opened up on the outskirts of the cities almost at the same time likewise experienced a completely unimagined influx. Crowds of people bustled in and out from day one. And these centers attracted not only residents from the immediate vicinity, who were happy not to have to go to the small and crowded inner cities any- more, but also lots of visitors from the neighbouring rural areas. They dared to go to the easy-to-reach and well-organised shopping centers rather than to the hectic and complicated inner cities with all their “perceived” chaos and scant parking space. After these great successes, more and more new shopping centers sprang up around Germany as well. They experienced their golden age in the 1980s and 1990s and even managed to overtake the local stores and restaurants in the middle of the city. In the 1990s, people in Hamburg’s small but stylish “Hanse Viertel” liked to slurp oysters and sip champagne at “Struve” on Saturdays or indulge in a sophisticated breakfast at “Mövenpick”. In the “Galeria”, right next door, you could order a latte macchiato or a Ceasar salad at the “Bar Tabac”, people-watch, celebrate special occa- sions and flirt at the “Café Loft”, or take a seat in the “Cappuccino” in the “Hamburger Hof” exclusive shop- ping arcade – the place to see and be seen. Similar things happened nationwide, whether in the “Kö-Galerie” in Düsseldorf, the “Europa-Center” in Berlin, the “Rhein-Neckar-Zentrum” in Viernheim, the “Kaufinger Tor” in Munich or the “Bazaar de Cologne” in Cologne. Customers loved their arcades, and the long queues in front of the full tables at the restau- rants there spoke for themselves. They came. Again and again. Became regulars. Met friends. Got to know new people. It was just “right”. In the mid- dle of the “third place”. And today? Some 40 years later? In the USA, as at home, social contacts are mainly established – and maintained – through social media such as Facebook, Instagram and WhatsApp. People are ordering more and more of the things they need on the Internet. They no longer watch movies in theatres, but on Netflix or Sky. And when it comes to eating out, they prefer their small neighbourhood Italian restaurant to a big food court, and the coffee shop around the corner to the patisserie in the center. The well-known consequence of this is vacancies, retailers in disarray, a massive demise of malls in the USA, especially in the last few years. There’s even talk of a “shopping mall apoca- lypse” in many places there. A creepy website even exists that documents the demise in images. And with the end of the (small) local malls, the “third place” is evidently also experiencing widespread extinction in the USA. Like before in the 1950s ... 5. 2021 FRAGRANT CHARTS Fragrant year Always exciting: Which fragrances are under the Christmas tree – or in the Easter basket? What are Germany’s favourite fragrances? We talk to DOUGLAS to find out. Here are the best-selling women’s and men’s fragrances of 2021: FOR HER: 1. Lancôme – La Vie est belle, Eau de Parfum 2. Chloé – Signature, Eau de Parfum 3. J il Sander – Sun, Eau de Toilette FOR HIM: 1. Hugo Boss – Boss Bottled, Eau de Toilette 2. Calvin Klein – CK ONE, Eau de Toilette 3. Dior – Sauvage, Eau de Parfum

17 Golden times?! / S H O P P I N G 7. HOME TREND: JAPANDI So simple – so stylish In both the Japanese and Scandinavian worlds, people appreciate the simplic- ity of things – especially in their living spaces. As the sayings go: “less is more” and “quality over quantity”. Now both styles, while intrinsically different, are being combined in exciting new ways. This has produced the interior trend for 2022: Japandi! The style is minimalist, neat and scaled-back. Soothing, dark colours. Clean lines. Cosy lounge atmos- phere. Having trouble picturing it? We did as well at first. But, when you see pictures like this ... dreamlike! So, we are happy to go along with the trend! www.instagram.com / japandi.interior SO SIMPLE – SO STYLISH Everyday life in the 21st century is characterised by terms such as “to go” and “on the run”, according to the “Zukunftsinstitut” (zukunftsinstitut.de). “There’s hardly anything you can’t somehow still do in between. Having breakfast, writing emails, load- ing information, meeting colleagues ...”. And further: “The megatrends of mobility and digitisation, and also increasingly the ‘flexibilisation of being’, are having just as much of an impact on the culture of living as they are on the world of work.” And – the Zukunftsinstitut is certain here as well – the saying “My home is my castle” will only be true to a limited extent in future. The private retreat will not lose its relevance – on the contrary, it will become even more private; but the representative qualities of our own four walls will no longer be required, says the institute. The keywords here are “co-working spaces” (i. e. working together, drinking coffee, meet- ing in lounges, etc.), “cooking houses” (living room- like salons where people meet and cook together and relax – known as “co-mingling”) or new types of “sleepboxes” or “napcabs” in airport work zones, where people can sink into sleep directly after finish- ing their work. According to the institute, “co-living” is also a huge trend: communal “social spaces” (restaurants, lounges, terraces, gardens, bars, spas, pools, work areas, cinemas, etc.) and small, intimate retreats. This can already be experienced in style today at the “Soho-Haus” in Berlin, for example.

19 Golden times?! / S H O P P I N G Good public transport connections, convenient park- ing, a refined atmosphere, an all-weather environ- ment, security, opportunities for entertainment, events, dining, shopping, and all under one roof – it makes for the perfect base. But to maximise their potential, the malls will need to invest – and make sure they are closely aligned with the needs of their customers, Belwal says. This means offering cosy lounges, varied food courts, small cafés, new enter- tainment offerings and also innovative, exciting concepts. Numerous examples worldwide and new concepts show that this works. A popular, albeit somewhat malicious, German say- ing goes “THE CONDEMNED LIVE LONGER”. But it could become a prosperous motto for shop- ping centers, which are often criticised and some- times even hastily written off. Not only are shopping centers currently experiencing a previously unim- aginable renaissance; they are probably even facing new golden times, like in the 1980s and 1990s. They just need to once again show themselves capable of change and actually seize the opportunity offered by the new, old “third place”.

21 Making shopping an experience / S H O P P I N G Main-Taunus- Zentrum, Sulzbach / Frankfurt AS ALREADY DESCRIBED, IT NEEDS TO ASSUME THE FUNCTION OF THE “THIRD PLACE”. This is evidenced not only by looking at the success- ful malls in the USA, but also at the top performers worldwide. What all successful shopping centers have in common is that they magically attract cus- tomers and tenants as a “third place”. But it is impor- tant to make a clear differentiation here: What do these centers have or what can they do as opposed to others? Is it the superlatives they can lay claim to? Is it their size? Or is it their gimmicks like the ice skat- ing rinks at the Dubai Mall (Dubai, UAE) or the Galleria Mall (Dallas, USA)? What about the Sea Life Center or the Nickelodeon Universe featuring rollercoast- ers and indoor fun parks like at the Mall of America ( Minneapolis, USA)? Are visitors really only interested in entertainment? Clear answer: No. Or rather, no, but kind of. After all, entertaining customers definitely plays an important role, even if maybe not the defining one. Malls with large areas and “extra” attractions are, of course, generally a nose ahead of their “normal” competi- tors because these zoos, parks and sports activities undoubtedly always pull in extra crowds. But that is not really a new insight that would move the industry forward. Decades ago, retailers and shopping centers began offering rocking horses, slides or carousels to entertain children while their parents shopped.

23 Making shopping an experience / S H O P P I N G to a survey by Eventbrite (Eventbrite is an American event management and ticketing website), 78% of mil- lennials (those born between 1981 and 1996) would rather spend their money on an experience or event than buy an item they want. A study by Dr Thomas Gilovich, a professor at Cornell University, found that experiences, no matter how fleeting, provide more lasting happiness than material, purchased things. This is because they become part of our identity. “We are the sum total of everything we’ve seen, everything we’ve done and all the places we’ve been,” he says. Social media has played a massive part in encour- aging this behaviour, as these millennials are eager to share their experiences online, which in turn influences their followers to do so. Research in this context has even shown that seven out of ten millen- nials experience “FOMO” (fear of missing out), which further drives their desire for experiences. However, the basic understanding of this consumer behaviour should not scare companies. Rather, it can be a great help for them to create a retail experience that really delights customers in the long term, thus strength- ening the entire brand. A fairly simple basic form of retailtainment is the introduction of lifestyle zones within a store. This gives customers the feeling that they are moving around in a spacious and stylish world full of experiences – which they would be unlikely to find at home within the confines of their two-room apartment. People welcome the opportu- nity to do other nice things after browsing the shelves because it turns shopping into a fun, feel-good, all- round experience. A lifestyle zone could therefore take the form of a lounge area with comfortable arm- chairs, fast WLAN, small snacks and drinks. CREATIVITY IS NEEDED HERE – AND IS ALREADY TAKING PLACE. NEW BEAUTY SECRET WEAPON 1. Anti-ageing effect 2. Strengthens the protective function and moisturises 3. Minimises enlarged pores – regulates sebum production 4. Has a calming effect on the skin 5. Reduces impurities & mattifies oily skin 6. Counteracts skin discolouration And one factor is still missing from the list: It is available for relatively little – so it is not a luxury product: It is applied up to two times a day (in the evening and, if necessary, in the morning), on its own or as a base under moisturiser or foundation. 1. SHOPPING TIP: NIACINAMIDE New beauty secret weapon Unpronounceable name – ingenious effect. Niacinamide is on everyone’s lips right now. And rightly so! Facial serums have been very popular for quite some time and have long since replaced heavy and often greasy face creams. But this little miracle product is differ- ent and better than all those that have come before it – making it the trending product for 2022! It is suitable for all skin types – young skin, mature skin, dry skin, oily skin – and for both women and men. Niacinamide is a vitamin B3 derivative (the chemical name for vitamin B3 is niacin) and is attributed a whole cocktail of effects:

25 Making shopping an experience / S H O P P I N G LET ’EM GROW! 2. BEAUTY TREND: BUSHY BROWS Let ’em grow! The days of painstaking plucking are over: fine, thin eyebrows are out! Today, not only female trendsetters, but also style-conscious men from all walks of life are embracing a bolder look. After years of waxing, shaving and threading, a whole new trend has taken hold in eyebrow salons: bushy brows! Models like Cara Delevingne and Sophia Hadjipanteli, star influencer Chiara Ferragni and actress Lily Collins are all big fans. Styling is simple: • The first step is to comb the hairs upwards in careful strokes before applying make-up. A small brush is suitable for this purpose. • Then, any large gaps are carefully filled in with a light eyebrow pencil matching the eyebrow colour – not too dark! Fine strokes produce a more natural result. • To make the shape of the eyebrows a little more symmetrical, a subtle line is traced on the underside of the brow, extending it on the inside or at the edge. • The most important step: the hairs are combed upwards with coloured or trans- parent eyebrow gel and fixed in their upright position. This also makes the drawn line disappear. If this is too complicated for you, there are no shortage of eyebrow salons that can give you a professional make-over (e. g. the “Twinkle Brow Bar” in the Phoenix-Center, Hamburg, or the “Benefit Cosmetics BrowBar” in the Stadtgalerie, Passau).

27 Blazing the trail with fresh ideas / S H O P P I N G BLAZING THE TRAIL WITH F R E S H I D E A S Retailtainment – sounds good in theory. But how can it be implemented in practice? These examples of DES tenants show: With smart ideas, not only can you inspire customers and keep them inspired, but also generate steadily growing sales. TEXT: JENS-STEFAN HÜBEL A t the Altmarkt-Galerie in Dresden, visitors can not only shop to their heart’s content, but also experience something very special at the Viba Erlebnis-Confiserie & Café. While indulg- ing in a delicious cup of coffee, homemade dessert or the infamous “nougat cup”, you look directly over the shoulders of the chocolatiers. A variety of try-it- yourself courses offer insights into how to handle the ingredients and into the art of making chocolate, nou- gat and fillings. And if your stomach starts rumbling as you watch the confectioners practise their craft, you can give yourself a treat in the restaurant, which has space for 80 guests and offers a wide range of home- made specialities. All this comes with a view of the Frauenkirche church and Altmarkt square, of course. www. viba-dresden.de

29 Blazing the trail with fresh ideas / S H O P P I N G An exciting new offering that is attracting visitors to the Phoenix-Center in Hamburg and revolutionising the coffee-to-go market is MyAppCafé. This is a cutting-edge, fully automated coffee service that freshly prepares the finest top-quality coffee, hot chocolate, chai lattes and other delicious drink speci- alities in a matter of seconds according to customers’ specific wishes. This is how it works: In a cabin meas- uring around nine square metres, a robotic arm quickly and precisely operates high-quality coffee machines, conjuring up whatever the customer wants, whether that’s an espresso, cappuccino, latte, latte macchiato, hot chocolate or chai latte, etc. with syrup, cow’s milk, soy milk and so on and so forth, and serves the bever- age hot or chilled for the guest to take away. If guests use the touchscreen to order their coffee, they have over 200 different combinations to choose from. An even more convenient way to choose and pay – with the added bonus of a 10% discount – is via the associ- ated app, which customers can download. This is what the coffee-to-go of the future will look like: Order cof- fee using your mobile device, scan the QR code you’ve received on site, and get your fresh Fairtrade coffee in no time at all. It will soon also be possible to send a message of love with the coffee: Provided with the desired image via the app, the robot will conjure up a lifelike photo design in cocoa powder on top of the milk froth. Bet- ter still, there’s no standing in line anymore either. The software-controlled baristas can certainly hold a candle to their human counterparts. In some respects, they are even superior to them, capable of filling an incredible 120 coffee cups (compostable!) per hour. www.my-app-cafe.com Coffees from the MyAppCafé station at the Phoenix- Center, Hamburg

31 „What I bought myself in 2021“ / S H O P P I N G PATRICK KISS Head of Investor & Public Relations “I guess I have a thing for shoes – probably just like every runner. So in 2021, as in every year in fact, I got a new pair of running shoes: Brooks Adrenaline GTS 21. They’re light- weight shoes with stability support. RUNNING SHOES It’s not their fault I ran significantly less than usual.” NICOLAS LISSNER Senior Manager Investor & Public Relations “I bought a narrow sideboard from USM Haller that now serves as a small home bar in our kitchen. It’s a timeless and solid piece of furniture that hopefully will be with us for a long time to come.” SIDE- BOARD BIRGIT SCHÄFER Secretary to the Executive Board “My purchase of the year was a fabric-covered balance ball chair to improve my posture when working from home. This comfortable seat also looks BALANCE BALL great and is a real eye- catcher.” „WHAT I BOUGHT MYSELF IN 2021“

Our portfolio / C E N T E R Even on their way to the shops, our customers can do something for the environment: all our centers offer a connection to the public transport system. 33 E ven in these extremely challenging times for the retail sector due to the pandemic, we are satisfied with an average occupancy rate of more than 95% at the end of 2021 and we are opti- mistic about the future. This figure confirms the qual- ity of our portfolio, particularly given the current situ- ation. It has remained at a consistently very high level ever since Deutsche EuroShop was established. Our investments are squarely focused on Germany, where 81% of our centers are located. No. of centers Leasable space in m² No. of shops Occupancy rate1 Inhabitants in catchment area in millions Germany Abroad 17 4 Total 21 880,600 206,000 1,086,600 2,030 95% 643 95% 2,673 95% 13.9 3.4 17.3 1 as per EPRA, based on rental income As at 31 December 2021 OPTIMUM ACCESSIBILITY Whether in the inner city or outside the city limits, we pay particular attention to transport links for our properties. In towns and cities, we like to be close to public transport hubs. In Hameln and Passau, for example, our centers are right next to the main bus stations, while our properties in Norderstedt and Hamburg-Billstedt are directly above or adjacent to underground stations. In Brno, we offer our visi- tors a free shuttle bus that runs several times a day between the inner city and the Olympia Center. All our centers also have their own parking facili- ties that offer our customers convenient and afforda- ble parking, even in downtown areas, ensuring opti- mum accessibility by car. Many of our properties outside inner cities offer free parking. These particu- lar locations are alongside motorways, making them very easy to reach; examples include the A10 Center in Wildau on the A10 (Berlin ring road) and the Main- Taunus-Zentrum in Sulzbach on the A66. Parking spaces reserved for people with disabilities, families and women as well as extra-wide parking spaces are offered as part of our service at all our shopping centers. Charging stations for electric vehi- cles and joint ventures with car-sharing services are just a few examples that show how we are always thinking of tomorrow. In addition, we are gradually fitting more and more of our parking facilities at the centers with LED parking space indicators, which enable visitors to find a convenient vacant park- ing space far more quickly. QR code-based guidance systems also quickly direct our visitors back to their parking spaces after they have finished wandering around our shops. THE FIRST AND LAST TOUCHPOINT ON A VISIT TO A CENTER IS THE CAR PARK. Our Car Finder offers better guidance here: custom- ers simply scan the QR code on a Car Finder sign near the vehicle, storing the parking spot in their smart- phone. After shopping, they can then scan another QR code at one of the pay machines and conveniently be guided back to their car. SUCCESSFUL MIX Each of our 21 shopping centers has a unique leas- ing structure that is the result of a long, intensive and constantly developed process. In these times of increasing online trading, it is particularly impor- tant to take a targeted approach to meeting customer demands and expanding product ranges at the rele- vant inner city location and, of course, always to offer something special and new. Our goal is always to work with retailers in our neighbourhood to make the entire location more attractive, so that everyone can benefit from the increased appeal of the downtown area as a whole. Here, too, we keep up with the times and offer appropriate solutions. For example, many of

35 Our portfolio / C E N T E R Seating and lounge areas with smartphone charg- ing facilities provide a relaxing break from shopping. Children’s play areas are provided for our smallest visitors. The German Sustainable Building Council (DGNB) has awarded prestigious sustainability certificates in gold or platinum to all 21 shopping centers in our portfolio. Visitors should feel happy and comfortable with us – whatever their age. It goes without saying that our centers are designed to be used by all generations. Wide malls, escalators and lifts mean that it is easy to explore every corner of the center, even with push- chairs or wheelchairs. AS NIGHT FALLS, THE ROOFS OF OUR CENTERS START TO MOVE. Smart control systems open flaps that allow hot air to escape and cold air to flow in. This eliminates the need for mechanical cooling and saves a lot of energy. A SECURE FUTURE THROUGH COMPLETE FLEXIBILITY Retail is driven by constant change. One particular challenge we face as the lessor is to be able to meet the frequently changing requirements and needs of our tenants. Some tenants expand their retail spaces so they can convert the shop from a purely retail area into a true experience arena. The idea is to give customers more opportunities to take the time to test the desired prod- uct on site. Ever more intensive consultation is also part of this. All these factors play an increasingly important role, particularly at a time when more and more people are shopping online. You can find lots of additional information about sustainability in our shopping centers in our ESG Report 2021! SHOPPING WITHOUT BORDERS – FOR ALL! STEP-FREE ACCESS, WIDE DOORWAYS AND PLENTY OF SPACE TO MANOEUVRE MEAN THAT PEOPLE WITH DISABILITIES CAN ENJOY MAXIMUM MOBILITY IN OUR CENTERS AS WELL. SUSTAINABILITY GOES WITHOUT SAYING In 2021, all our 21 shopping centers had contracts with suppliers that use renewable energy sources, such as hydroelectric power, for their electricity needs; 19 used exclusively green electricity. We also want to reduce the overall energy consumption of our properties on an ongoing basis and in so doing to cut CO2 emissions. To this end, we use ultramodern tech- nologies such as heat exchangers and LED lighting systems. We also constantly seek dialogue with our rental partners with the aim of working together to reduce energy consumption in the individual shops. The refuse in our centers is separated not just into paper/cardboard, lightweight packaging and glass, but also into leftover food and residual waste.

37 Our portfolio / C E N T E R THE TEN LARGEST TENANTS (share of rental income in %), As at 31 December 2021 TK Maxx 1.5 % Thalia 1.5 % dm drogerie markt 1.5 % Douglas 2.0 % Total of the top 10 tenants: 20.7 % Other tenants: 79.3 % 2.8 % H & M 2.5 % Peek & Cloppenburg 2.4% Ceconomy 2.2 % New Yorker C & A 2.1% 2.2 % Deichmann RESIDUAL TERM OF LEASES IN PLACE (Term of leases, share of rental income in %), As at 31 December 2021 2027 onwards 46% 2026 18% 5% 2022 10% 2023 11% 2024 10% 2025

39 Our portfolio / C E N T E R We set ourselves apart from the majority of build- ing owners in pedestrian zones in one key respect: as long-term investors, it is our goal to achieve perma- nent optimisation rather than short-term maximisa- tion of rents. We want to offer our customers and visi- tors an attractive mix. Rather than focus on each shop space in isolation, we look at the property as a whole. The rent in each case is calculated primarily on the basis of the sales potential of the sector to which the tenant belongs as well as its location within the shop- ping center. This also enables us to give opportunities to new businesses and niche concepts. All sides benefit from this system: as the landlord, we are able to build a collaborative relationship of trust with our tenants for the long term; our tenants bene- fit from high visitor numbers due to the varied mix of offerings; and our customers appreciate the very wide choice of shops. These range from various fashion concepts to accessories, drugstores and supermar- kets, right through to professional services such as dry cleaners as well as bank and post office branches. CULINARY DELIGHTS Surveys show that the food and drink offering is an increasingly important consideration for customers when choosing whether to visit a center. And it’s not just for this reason that we want to offer our visitors something special on the gastronomic front: cafés, fast-food restaurants, ice-cream parlours, etc. offer a chance for refreshment and revitalisation while shopping. The Phoenix-Center in Hamburg-Harburg, the City-Point in Kassel and the Galeria Baltycka in Gdansk have their own food courts, with space for lots of diners to enjoy a wide variety of cuisines in a single seating area, so that friends or families can choose to eat from different outlets while still sitting together. FOCUS ON FASHION The fashion industry dominates our retail mix at around 54%. The large fashion offering at our centers is confirmed time and again in customer surveys. It is one reason why customers are willing to travel some- times long distances from the surrounding area to enjoy the wide selection and quality of advice given. RETAIL MIX (in % of rental space), As at 31 December 2021 Services 1.8 % Catering 4.9 % Food 6.7 % Health sector 7.0 % 53.5 % Clothing 9.0 % Department stores / consumer markets 17.2 % Hardware / electronics

41 Our portfolio / C E N T E R The concept of the Digital Mall is based on the idea that customers can find out what is available at their local center from home without automatically being redirected to the major e-commerce providers when searching for products over the Internet. Our online product search function now offers more than 3.7 mil- lion products from more than 1,000 stores at all ECE centers. Negotiations with many other tenants are underway. The prospects for delivering products from centers to surrounding areas look good. Initial test projects have also proven successful.

43 Our portfolio / C E N T E R UNIFORM OPENING HOURS At our centers, visitors can always rely on standard opening hours, unlike in the traditional inner city where each individual retailer decides for itself how long to stay open. No matter whether it’s a hair- dresser, an optician or a travel agency, all our tenants are available to customers throughout the stated opening hours if normal store operation is possible. This too is a strategic advantage, and one that is appreciated in particular by customers who have to travel a long distance to reach us. TOGETHERNESS IS OUR STRENGTH Service is always centre stage at our centers. Friendly staff at service points are available to answer ques- tions about all aspects of the center. Gift vouchers and other items can also be bought there, and many of them hire out children’s buggies. Digital touchpoints that enable communication with service staff by live video chat are the perfect complement to traditional customer information. We are also leading the way with our 3D Wayfinders, which show users how to get to the shop they want with authentic 3D visualisation, or which can be down- loaded onto personal smartphones. Thanks to the deployment of discreet security personnel, customers can feel safe at all times. Baby changing rooms, modern customer toilets and cash machines com- plete the services. Cleanliness and hygiene are a matter of course, not only in times of pandemic. IT IS IMPORTANT TO OFFER CUSTOMERS A VARIETY OF NAVIGATIONAL AIDS, ESPECIALLY IN LARGE SHOPPING CENTERS. Our modern, digital 3D Wayfinder systems help them to find exactly what they are looking for: whether that’s a shop, product, ATM or toilet. The route is dis- played in an authentic, three-dimensional manner from the customer’s perspective. It can also be down- loaded from the Wayfinder system onto personal smartphones using a QR code. LEADING THE WAY WITH 3D WAYFINDER Every one of our tenants is automatically also a mem- ber of the marketing association of the center in ques- tion. This means that each tenant pays a share of the center’s marketing costs and can play an active role in the marketing strategy committee. The marketing association plans events together with the center management, thus transforming the shopping center into a lively marketplace. Fashion shows, art exhibi- tions, country-themed weeks and information events dealing with a whole range of topics offer visitors new and fresh experiences time and again. Local associations and municipal authorities are also involved in the plans and are given the opportu- nity to represent themselves in the center. The lavish center decorations for the Easter and Christmas periods are among the projects handled by the mar- keting associations. Important areas of the work include coordinat- ing coherent social media and advertising activi- ties for the center as a whole as well as editing a center newspaper, which is distributed as an insert in regional daily newspapers in the catchment area and provides readers with regular and professional updates on all events and news relating to the center. Radio ads, adverts on and inside local public trans- port, and illuminated advertising posters also ensure that the advertising measures reach a large audience.

45 Activities in the Centers / C E N T E R PRIVATE FASHION DAYS IN DRESDEN WARM SOCKS ON THE POLISH BALTIC COAST The first Friday of the month always marks a special shopping experience at the Altmarkt-Galerie Dresden: customers are greeted by a fun and lively shopping ambience and lots of great promotions organised by the center management together with tenants. Lar- issa Markus, style consultant at the Altmarkt-Galerie, plays a very special role in this. She is on hand in the stores offering the benefit of her expertise and expe- rience with professional, customised and, of course, free styling tips. In addition to special discounts and a welcome glass of prosecco, visitors can also look for- ward to a goodie bag and a small surprise as a thank- you gift. www.altmarkt-galerie-dresden.de Just in time for St Nicholas Day, the Galeria Bałtycka prepared a special surprise. Every customer who spent at least 100 Polish zloty (approx. 20 euros) at the center was eligible to be entered in a prize draw to win a pair of Christmas socks. The campaign was so well received that after just five days, 2,000 pairs of socks had been handed out to lucky visitors. On the back of this success, the center immediately started making plans for its next promotion, which saw the give-away of 3,000 pairs of “love socks” to mark Valentine’s Day on 14 February 2022. www.galeria-baltycka.pl ACTIVITIES IN THE CENTERS

47 Center Overview / C E N T E R CENTERS IN GERMANY 1 Main-Taunus-Zentrum, Sulzbach / Frankfurt 2 A10 Center, Wildau / Berlin 3 Altmarkt-Galerie, Dresden 4 Rhein-Neckar-Zentrum, Viernheim / Mannheim 5 Herold-Center, Norderstedt 6 Rathaus-Center, Dessau 7 Allee-Center, Magdeburg Phoenix-Center, Hamburg 8 9 Billstedt-Center, Hamburg 10 Saarpark-Center, Neunkirchen 11 Forum, Wetzlar 12 Allee-Center, Hamm 13 City-Galerie, Wolfsburg 14 City-Arkaden, Wuppertal 15 City-Point, Kassel 16 Stadt-Galerie, Passau 17 Stadt-Galerie, Hameln

49 Center Overview / C E N T E R Altmarkt-Galerie Dresden Rhein-Neckar- Zentrum Viernheim / Mannheim Herold-Center Norderstedt Investments: 100% Leasable space: 77,000 m2 of which retail space: 44,000 m2 Parking: 500 No. of shops: 200 Occupancy rate: 97% Catchment area: 1.4 million residents Purchased by DES: September 2000 Grand opening: 2002 Expansion: 2011 Anchor tenants: Apple, Hollister, H & M, New Yorker, REWE, Saturn, Sinn, SportScheck Visitors in 2020: 6.8 million Address: Webergasse 1, 01069 Dresden Investments: 100% Leasable space: 69,500 m2 of which retail space: 60,000 m2 (plus Karstadt und C & A) Parking: 3,800 No. of shops: 110 Occupancy rate: 92% Catchment area: 1.6 million residents Purchased by DES: September 2000 Grand opening: 1972 Restructuring / Expansion: 2002 Anchor tenants: Aldi, Engelhorn Active Town, H & M, Hugendubel, Müller Drogerie, Peek & Cloppenburg, TK Maxx Visitors in 2020: 5.5 million Address: Robert-Schumann-Straße 8a, 68519 Viernheim Investments: 100% Leasable space: 54,300 m2 of which retail space: 26,000 m2 (plus Saturn) Parking: 850 No. of shops: 140 Occupancy rate: 95% Catchment area: 0.5 million residents Purchased by DES: January 2013 Grand opening: 1971 Restructuring / Expansion: 1995 und 2003 Anchor tenants: C & A, H & M, Peek & Cloppenburg, REWE Visitors in 2020: 6.2 million Address: Berliner Allee 38 – 44, 22850 Norderstedt altmarkt-galerie-dresden.de rhein-neckar-zentrum-viernheim.de herold-center.de Facebook 4.4/5 stars 87,633 fans altmarkt. galerie Instagram 3,722 follower altmarkt- galeriedresden Google 4.4/5 stars Facebook 4.3/5 stars 59,037 fans RheinNeck- arZentrum Viernheim Instagram 15,473 follower rheinneck- arzentrum_ viernheim Google 4.4/5 stars Facebook 4.0/5 stars 29,164 fans Herold.Center. Norderstedt Instagram 2,3250 follower heroldcenter Google 4.1/5 stars

51 Center Overview / C E N T E R Billstedt-Center Hamburg Saarpark-Center Neunkirchen Forum Wetzlar Investments: 100% Leasable space: 42,500 m2 of which retail space: 29,500 m2 (plus Primark) Parking: 1,500 No. of shops: 110 Occupancy rate: 98% Catchment area: 0.8 million residents Purchased by DES: January 2011 Grand opening: 1969/1977 Restructuring: 1996 Anchor tenants: C & A, H & M, Media Markt, REWE, TK Maxx Visitors in 2020: 7.8 million Address: Möllner Landstr. 3, 22111 Hamburg Investments: 50% Investments: 65% Leasable space: 35,600 m2 Leasable space: 34,500 m2 of which retail space: 33,500 m2 Parking: 1,600 No. of shops: 115 Occupancy rate: 96% Catchment area: 0.7 million residents Purchased by DES: October 2016 Grand opening: 1989 Restructuring: 1999 und 2009 Anchor tenants: C & A, Müller Drogerie, H & M, Peek & Cloppenburg, TK Maxx Visitors in 2020: 3.5 million Address: Stummplatz 1, 66538 Neunkirchen of which retail space: 23,500 m2 Parking: 1,700 No. of shops: 110 Occupancy rate: 97% Catchment area: 0.5 million residents Purchased by DES: October 2003 Grand opening: 2005 Anchor tenants: Kaufland, Media Markt, Thalia, TK Maxx Visitors in 2020: 4.7 million Address: Am Forum 1, 35576 Wetzlar billstedt-center.de saarpark-center.de forum-wetzlar.de Facebook 4.0/5 Sterne 20,847 Fans Billstedtcenter Instagram 3,968 Follower billstedtcenter_ hamburg Google 4.0/5 Sterne Facebook 4.2/5 stars 44,680 fans Saarpark- Center- Neunkirchen Instagram 5,307 follower saarparkcenter Google 4.3/5 stars Facebook 4.3/5 stars 19,267 fans ForumWetzlar Instagram 2,309 follower forumwetzlar Google 4.3/5 stars

53 Center Overview / C E N T E R City-Point Kassel Stadt-Galerie Passau Stadt-Galerie Hameln Investments: 100% Leasable space: 27,800 m2 of which retail space: 20,000 m2 Parking: 220 No. of shops: 60 Occupancy rate: 95% Catchment area: 0.6 million residents Purchased by DES: September 2000 Grand opening: 2002 Restructuring: 2009 und 2015 Anchor tenants: H & M, New Yorker, Saturn, tegut Visitors in 2020: 4.7 million Address: Königsplatz 61, 34117 Kassel Investments: 75% Leasable space: 27,700 m2 of which retail space: 21,000 m2 Parking: 500 No. of shops: 90 Occupancy rate: 97% Catchment area: 0.8 million residents Purchased by DES: December 2006 Grand opening: 2008 Investments: 100% Leasable space: 26,000 m2 of which retail space: 19,000 m2 Parking: 500 No. of shops: 85 Occupancy rate: 92% Catchment area: 0.3 million residents Purchased by DES: November 2005 Grand opening: 2008 Anchor tenants: C & A, Saturn, Thalia, TK Maxx Anchor tenants: Müller Drogerie, New Yorker, Thalia Visitors in 2020: 4.0 million Address: Bahnhofstr. 1, 94032 Passau Visitors in 2020: 3.8 million Address: Pferdemarkt 1, 31785 Hameln city-point-kassel.de stadt-galerie-passau.de stadtgaleriehameln.de Facebook 51,193 fans CityPointKassel Instagram 5,898 follower citypointkassel Google 4.3/5 stars Facebook 4.4/5 stars 35,650 fans Stadtgalerie- Passau Instagram 7,376 follower stadtgalerie_ passau Google 4.4/5 stars Facebook 4.0/5 stars 12,597 fans StadtGalerie- Hameln Instagram 1,947 follower stadtgalerie- hameln Google 4.2/5 stars

55 Center Overview / C E N T E R Galeria Bałtycka Gdańsk, Poland City Arkaden Klagenfurt, Austria Árkád Pécs, Hungary Investments: 74% Investments: 50% Investments: 50% Leasable space: 48,700 m2 Leasable space: 36,900 m2 Leasable space: 35,400 m2 of which retail space: 43,000 m2 Parking: 1,050 No. of shops: 193 Occupancy rate: 97% Catchment area: 1.1 million residents Purchased by DES: August 2006 Grand opening: 2007 Anchor tenants: Carrefour, H & M, Peek & Cloppenburg, Reserved, Saturn, Zara Visitors in 2020: 5.3 million Address: al. Grunwaldzka 141, 80-264 Gdańsk, Poland of which retail space: 30,000 m2 Parking: 880 No. of shops: 120 Occupancy rate: 92% Catchment area: 0.4 million residents Purchased by DES: August 2004 Grand opening: 2006 Anchor tenants: C & A, Peek & Cloppenburg, Zara, H & M, Billa, Müller Drogeriemarkt Visitors in 2020: 3.9 million Address: Heuplatz 5, 9020 Klagenfurt, Austria of which retail space: 33,500 m2 Parking: 850 No. of shops: 130 Occupancy rate: 98% Catchment area: 0.7 million residents Purchased by DES: November 2002 Grand opening: 2004 Anchor tenants: C & A, H & M, Media Markt, Interspar Visitors in 2020: 9.6 million Address: Bajcsy Zs. U. 11/1, 7622 Pecs, Hungary galeria-baltycka.pl city-arkaden-klagenfurt.at arkadpecs.hu Facebook 4.3/5 stars 71,625 fans galeriabaltycka Instagram 5,865 follower galeriabaltcka Google 4.4/5 stars Facebook 4.3/5 stars 20,499 fans cityarkanden- klagenfurt Instagram 5,860 follower cityarkaden- klagenfurt Google 4.3/5 stars Facebook 4.2/5 stars 43,086 fans arkadpecs Instagram 1,759 follower arkad_pecs Google 4.4/5 stars

57 The Shopping Center Share / I N V E S T O R R E L AT I O N S PEER GROUP POSTS BETTER PERFORMANCE Including the dividend of €0.04 per share distributed on 23 June 2021, Deutsche EuroShop share recorded a negative performance of 20.5 % (previous year: -30.2 %). As such, our share price performance in 2021 was below that of the European benchmark for listed real estate companies, the EPRA index (+18.4%), and in the lower third of its European peer group 1, which reported average gains of 11.7 % (median: +15.7 %). The benchmark index for smaller companies, the SDAX, gained 11.2 % in the year under review. Over the past year, German open-ended property funds achieved an average performance of +2.3 % (2020: +2.5 %) and attracted cash inflows of €7.2 bil- lion (2020: €8.3 billion). 1 Atrium European Real Estate, Carmila, Citycon, Eurocommercial Properties, Hammerson, IGD, Klépierre, Mercialys, Unibail-Rodamco-Westfield, Vastned Retail and Wereldhave INVESTOR RELATIONS CON- FERENCES AND ROADSHOWS The coronavirus pandemic continued to have a sig- nificant impact on our IR work in 2021. Our Executive Board and Investor Relations team typically attend a variety of conferences throughout the year and run numerous roadshows to discuss specific topical issues as well as Deutsche EuroShop’s strategy in person with existing shareholders and to present the company to potential new investors. Direct contact with our shareholders is extremely important to us: by engaging in frank discussions with analysts as well as fund and portfolio manag- ers, we seek to understand the requirements of the capital market and to learn which issues are seen as most important. Conversely, many fund management companies also hinge their investment decisions on their ability to hold regular meetings with a company’s Executive Board. In the spring of 2020, it already became clear that there would probably be no opportunities for in- person meetings for the time being and that travel would also have to be reduced to a minimum. To com- pensate for this, in 2021 we were once again avail- able to our investors for virtual meetings and par- ticipated in numerous online conferences organised by banks. Online security is, of course, an important aspect here, which is why special attention is always paid to the software solutions and transmission tech- niques used. In all, last year we held approximately 130 one-on- one meetings with investors from four continents. We also held numerous conference calls again, including for the publication of our quarterly and annual figures, which were streamed live on our website, where they could naturally also be viewed by anyone after the event or accessed as a podcast. We hope to be able to ramp up our investor relations activities again over the remainder of 2022 in order to cultivate our contacts with existing investors and tap into new investor groups. For this, we will of course also continue using techniques such as virtual road- shows and conferences. You can find an overview in our financial calendar on page 58. A constantly updated version can also be found on our website at www.deutsche-euroshop.de/ir/en. CAPITAL MARKET CONFERENCES Generally organised by banks, these are con- ferences at which both investors and com- panies are given the opportunity to hold as many meetings as possible in a day. These one-on-one or group discussions can be used to address questions in detail either on site or virtually. Corporate presenta- tions allow the Company to present itself to a wider trade audience. In the case of hybrid events, some of the appointments take place on site, while others are organised through virtual channels.

59 Financial Calendar 2022 / I N V E S T O R R E L AT I O N S The agenda included the resolution on the approval of the remuneration system for the Executive Board and the confirmation of the remuneration and resolution on the remuneration system for the members of the Supervisory Board. The attendance at the time of the vote on all agenda items was 64.2 %. The AGM for financial year 2021 is scheduled to take place on 23 June 2022 and is planned to be held as a virtual event once more. As part of this, it is important for us to provide our shareholders with the means to participate in a safe, informative and uncomplicated manner. You will be sent all the necessary documents by post or e-mail in good time. We will also keep you updated about this on our website. In future, in order to promote sustainability and reduce costs, we would like to switch increasingly to electronic mail- ing of invitations and hope we will receive your con- sent to do so if you have not already given this to us. www.deutsche-euroshop.com /AGM COVERAGE OF SHARE RECORDS DECLINE Our shares are regularly covered by 11 analysts 1 from respected German and international institutions, and their recommendations introduce us to new groups of investors. Due to the discontinuation or relocation of research at individual banks, the number of institu- tions offering coverage of Deutsche EuroShop saw a further decline. Information on the recommenda- tions can be found at: www.deutsche-euroshop.de / Investor-Relations / Share / Research The analysts are currently neutral to positive 2 on the prospects for the DES share. 1 As at: 14 April 2022 2 Baader Bank, Bank of America, Berenberg Bank, Deutsche Bank, DZ Bank, Green Street Advisors, HSBC, Kempen, Kepler Cheuvreux and M.M. Warburg and ODDO BHF. ANNUAL GENERAL MEETING Deutsche EuroShop’s Annual General Meeting (AGM) was held on 18 June 2021, albeit as a purely virtual event without the physical presence of sharehold- ers for the second time due to the pandemic. For this, we set up a complete AGM studio in Hamburg, where only a small team of technicians and specialists gath- ered alongside the Supervisory Board Executive Com- mittee, the Executive Board and the Company’s proxy subject to strict hygiene regulations. Registered shareholders and their proxies could follow the entire AGM, including the Q&A session and votes, by joining a live audiovisual broadcast via a password-protected online service. An average of about 100 people watched the live stream of the virtual AGM. CEO Wilhelm Wellner informed the shareholders about the events and results of the previous finan- cial year. In his speech, Mr Wellner talked in detail about the impact of the coronavirus pandemic and in particular of the lockdowns on the business model. Shareholders also received extensive information on the current economic climate and the state of the shopping-center transaction market. Other topics included the progress made in the implementation of the Digital Mall in our properties, current negotiations with tenants and, of course, an outlook for the future. Shareholders were given an opportunity to submit questions online in advance via a portal. In all, we received 96 questions from a total of ten individuals or institutions, each of which was answered by the Executive Board and Supervisory Board. These also included various questions from the SdK and DSW, the German associations for the protection of small shareholders and securities holders respectively. We had already made the speech by the CEO availa- ble on our website three days before the right to ask questions ended, so that questions could be asked on the basis of this speech. The associated presentation was made available to the general public shortly after the event at the web address given below. This site also contains an archive of agendas and other infor- mation relating to previous AGMs.

61 Financial Calendar 2022 / I N V E S T O R R E L AT I O N S TREND OF SHARE indexed – 14 April 2022 125 125 120 120 115 115 110 110 105 105 100 100 95 95 90 90 85 85 80 80 7575 EPRA SDAX Deutsche EuroShop 2021 2022 TREND OF SHARE 5 YEAR-ON-YEAR COMPARISON indexed – 14 April 2022 200 200 182 180 164 160 146 140 128 120 110 100 92 80 74 60 56 40 38 2020 2017 2018 2019 2020 2021 2022 EPRA SDAX Deutsche EuroShop FIGURES FOR THE DEUTSCHE EUROSHOP SHARE STOCK MARKET PERFORMANCE German securities no. / ISIN 748 020 / DE 000 748 020 4 Ticker symbol Share capital in € Number of shares (no-parvalue registered shares) Indices Official market OTC markets DEQ DES share 61,783,594.00 DAX SDAX EURO STOXX 50 (Europe) Dow Jones (USA) Nikkei (Japan) 61,783,594 SDAX, EPRA, GPR 250, MSCI Small Cap, HASPAX, F.A.Z.-Index Prime Standard Frankfurter Stock Exchange and Xetra Berlin-Bremen, Dusseldorf, Hamburg, Hanover, Munich and Stuttgart 2021 -20.5% +15.8% +11.2% +21.0% +18.7% +4.9 % 2020 -30.2% +3.6% +18.0% -5.1% +6.3% +16.0 %

6310 reasons to invest in Deutsche EuroShop shares / I N V E S T O R R E L AT I O N S T E N R E A S O N S to invest in Deutsche EuroShop shares 01. The only public company in Germany to invest solely in shopping centers WOULD YOU LIKE MORE INFORMATION? Please visit our website or call us: Patrick Kiss and Nicolas Lissner Phone: Fax: E-mail: +49 (0)40 – 41 35 79 20 /-22 +49 (0)40 – 41 35 79 29 ir@deutsche-euroshop.de Internet: www.deutsche-euroshop.com/ir 02. Prime locations 03. 04. Proven, conservative strategy Cash flow that can be planned over the long term Shareholder-friendly dividend policy 05. Experienced management team 06. 07. Solid performance track record 08. 09. 10. Solidity combined with potential High occupancy rate Inflation-protected rental agreements Nicolas Lissner and Patrick Kiss Market capitalisation (basis: year-end closing price) (€ million) Number of shares (year-end) Weighted average number of shares High € Low € Year-end closing price (31.12.) € Dividend 1 per share (€) Dividend yield (31.12.)% Annual performance excl. / incl. dividend % Average daily trading volume (shares) EPS (€) (undiluted) 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 904 1,140 1,632 1,566 2,098 2,086 2,183 1,953 1,717 1,707 61,783,594 61,783,594 61,783,594 61,783,594 61,783,594 53,945,536 53,945,536 53,945,536 53,945,536 53,945,536 61,783,594 61,783,594 61,783,594 61,783,594 58,248,007 53,945,536 53,945,536 53,945,536 53,945,536 51,934,893 32.03 (01.11.) 23.72 (06.01.) 39.32 (18.04.) 30.37 (25.10.) 37.84 (12.06.) 30.72 (04.02.) 42.52 (09.06.) 35.86 (11.02.) 48.00 (10.04.) 36.32 (06.01.) 34.48 (20.05.) 29.45 (24.06.) 21.30 (13.08.) 14.00 (13.12.) 26.50 (03.01.) 9.52 (25.09.) 27.44 (21.05.) 22.54 (16.08.) 33.90 (02.01.) 24.98 (27.12.) 14.64 18.45 26.42 25.34 33.96 38.67 40.46 36.20 31.83 31.64 1.00 1 6.8 -20.7%/ -20.5% 148,159 (incl. Multi- lateral Trading Facilities >418,885) 2 0.97 0.04 0.2 -30.2%/ – 153,503 (incl. Multi- lateral Trading Facilities >455,895) -4.07 0.00 0 4.3%/ 10.4% 149,891 (incl. Multi- lateral Trading Facilities >458,797) 1.81 1.50 5.9 -25.4%/ -21.8% 192,835 (incl. Multi- lateral Trading Facilities >526,239) 1.29 1.45 4.3 -12.2%/ -8.6% 212,422 (incl. Multi- lateral Trading Facilities >533,866) 2.31 1.40 3.6 -4.4%/ -1.2% 142,133 (incl. Multi- lateral Trading Facilities >412,750) 4.11 1.35 3.3 11.8%/ 15.3% 152,355 (incl. Multi- lateral Trading Facilities >449,500) 5.73 1.30 3.6 13.7%/ 17.7% 113,000 (incl. Multi- lateral Trading Facilities >250,400) 3.29 1.25 3.9 0.6%/ 4.5% 112,400 (incl. Multi- lateral Trading Facilities >204,000) 3.17 1.20 3.8 27.6%/ 32.7% 129,400 (incl. Multi- lateral Trading Facilities >174,000) 2.36 All share price information relates to Xetra 1 proposal 2 Source: Bloomberg, adjusted data, as of 19 April 2022

65 Marketing / I N V E S T O R R E L AT I O N S PUBLISHED CIRCULATION in millions 12 10 8 6 4 2 0 2017 2018 2019 2020 2021 Q1 Q2 Q3 Q4 WEBSITE CONTINUES TO SEE SHARP RISE IN PAGE VIEWS Our website, www.deutsche-euroshop.com, has been extremely popular for years. It is always ranked among the best in the index and within the European real estate sector for both the information it provides and its user-friendliness. In order to ensure that it remains at this high level, we updated the design and functions of the website in 2019. At a time when per- sonal contact had to be minimised to stem the pan- demic, our online presence received an extra boost as an information channel. This was also reflected in a sharp rise in page views (+67 %), which were once again significantly higher than in the first year of the pandemic. WEBSITE VISITORS AND PAGE REQUESTS Visitors 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 Page requests 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Visitors (left axis) Page visits (right axis)

67 Marketing / I N V E S T O R R E L AT I O N S

69 Glossar / S E R V I C E EBIT Earnings before interest and taxes. DES calculation: EBT excluding net finance costs and measurement gains / losses (also see the consolidated income statement on page 32 of the Financial Report 2019). EBT Earnings before Taxes. EBT (excluding measurement gains / losses) DES calculation: EBT less measurement gains / losses (including at-equity profit / loss) and less the deferred taxes included in at- equity profit / loss. E-commerce Direct commercial relationship between supplier and buyer via the internet including the provision of services. EPRA European Public Real Estate Associa- tion: EPRA is an Amsterdam-based organ- isation that represents the interests of the major European real estate companies in the public sphere and supports the devel- opment and market presence of European real estate corporations. EPRA earnings EPRA earnings represent sustained operat- ing earnings and thus lay the foundation for a real estate company’s ability to pay a div- idend. To calculate this, the profit / loss for the year is adjusted to reflect any income components that have no sustained, recur- ring impact on operational performance. The DES calculation is performed using the currently valid version of the EPRA Best Practice Recommendations, which can be found at www.epra.com / finance / financial-reporting /guidelines EPRA NTA EPRA NTA: The EPRA NTA represents the net asset value based on a long-term business model. Here, Group equity is adjusted for assets and liabilities that are unlikely to be realised if held over the long term. Intangible assets are elimi- nated in the process. The DES calcula- tion is performed using the currently valid version of the EPRA Best Practice Rec- ommendations, which can be found at www.epra.com / finance / financial-reporting /guidelines Fair value The Fair Value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). Food court Catering area of a shopping center, in which different vendors sell food at stations about a common seating area. Free cash flow The surplus cash generated from operat- ing activities recognised in the profit and loss account. This expresses a compa- ny’s internal financing power, which can be used for investments, the repayment of debt, dividend payments and to meet fund- ing requirements. Funds from operations (FFO) Inflow of funds from operations used to finance our ongoing investments in port- folio properties, scheduled repayments on our bank loans and the annual distribution of dividends. DES calculation: Consolidated profit after adjustment for measurement gains / losses (including at-equity profit / loss), the non- cash expense of conversion rights and deferred tax expense. Gearing Ratio which shows the relationship between liabilities and equity. Hedge accounting Financial mapping of two or more financial instruments that hedge one another. ifo business climate index The ifo Business Climate Index is an impor- tant forward indicator for economic devel- opment in Germany. In order to calculate the index, the ifo Institute asks approximately 7.000 companies every month for their assessment of the economic situation and their short-term corporate planning. Interest rate swap Exchange of fixed and variable interest pay able on two nominal amounts of capital for a fixed period. By means of an interest rate swap, interest rate risks may be controlled actively. International financial reporting stand- ards (IFRS) International Financial Reporting Stand- ards are based on International Account- ing Standards (IASs). Since 1 January 2005, listed companies have been required to apply IFRSs. IASs / IFRSs focus on the decision-usefulness of accounts. The key requirement with regard to the annual financial statements is fair presentation that is not qualified by aspects of prudence or risk provision. Loan-to-value ratio (LTV ratio) Ratio of net financial liabilities (financial lia- bilities less cash and cash equivalents) to non-current assets (investment properties and investments accounted for using the equity method).

71 Multi-year overview / Quarterly figures 2021 / S E R V I C E MULTI-YEAR OVERVIEW 2012 178.2 151.6 2013 188.0 165.8 2014 200.8 177.5 2015 202.9 176.3 2016 205.1 178.6 2017 218.5 192.4 2018 225.0 199.1 2019 231.5 197.5 2020 224.1 161.2 2021 211.8 152.5 -56.1 -52.3 -52.5 -49.3 -44.1 -39.1 -38.2 -34.3 -33.6 -26.9 95.5 113.4 125.0 127.0 134.5 153.3 160.9 163.1 127.6 125.6 in € million Revenue 5 EBIT Net finance costs (excluding measurement gains / losses 1) EBT (excluding measure- ment gains / losses 1) Measurement gains / losses 1 Consolidated profit Funds from Operations (FFO) FFO per share in € Earnings per share in € 2 EPRA Earnings per share in € Equity 2 Liabilities Total assets Equity ratio in % 3 Cash and cash equivalents 7.9 122.5 86.4 1.68 2.36 1.35 1,606.1 1,741.5 3.347,6 48.0 161.0 58.4 171.0 89.7 177.4 267.7 309.3 145.5 221.8 12.9 134.3 -58.3 79.4 -120.0 112.1 112.0 120.5 123.4 129.9 148.1 150.4 149.6 2.08 3.17 1.74 1,642.4 1,752.5 3.394,9 48.4 40.8 2.23 3.29 1.84 1,751.2 1,741.0 3.492,2 50.1 58.3 2.29 5.73 2.18 2,061.0 1,790.6 3.851,6 53.5 70.7 2.41 4.11 2.29 2,240.7 1,873.8 4.114,5 54.5 2.54 2.31 2.42 2,574.9 2,052.1 4.627,0 55.6 2.43 1.29 2.39 2,573.4 2,036.8 4.610,2 55.8 2.42 1.81 2.56 2,601.5 1,957.1 4.558,6 57.1 -429.6 -251.7 123.3 2.00 -4.07 2.02 2,314.8 1,922.6 4.237,4 54.6 -54.7 59.9 122.3 1.98 0.97 1.97 2,377.8 1,901.0 4.278,8 55.6 64.0 106.6 116.3 148.1 266.0 328.8 Net asset value (EPRA) 1,538.9 1,650.4 1,789.4 2,135.2 2,332.6 2,668.4 2,667.5 2,613.4 2,309.7 2,374.5 Net asset value per share in € (EPRA) Dividend per share in € 28.53 1.20 30.59 1.25 33.17 1.30 39.12 1.35 43.24 1.40 43.19 1.45 43.17 1.50 42.30 0.00 37.38 0.04 38.43 1.00 4 1 Including the share attributable to equity-accounted joint ventures and associates 2 undiluted 3 incl. non controlling interests 4 proposal 5 In 2020, there was a change in the disclosure of revenue with adjustment of the comparative figure for the previous year 2019. A comparison with the years 2011 to 2018 is therefore only possible to a limited extent. QUARTERLY FIGURES 2021 in € million Revenue Net operating income (NOI) EBIT EBT (excluding measurement gains / losses 1) EPRA Earnings FFO EPRA Earnings per share in € FFO per share in € 01.01. – 31.03.2021 01.04. – 30.06.2021 01.07. – 30.09.2021 01.10. – 31.12.2021 51.9 32.5 31.4 23.7 23.1 22.5 0.37 0.36 53.0 39.4 39.1 32.0 31.2 31.8 0.51 0.52 52.9 41.8 41.0 34.8 33.9 33.9 0.55 0.55 54.0 40.5 41.1 35.2 33.8 34.1 0.54 0.55 1 Including the share attributable to equity-accounted joint ventures and associates

73 Impressum, Disclaimer / S E R V I C E