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H1 2022 / Half-year Financial Repor t dated 30 June 2022 Letter from the Executive Board DEAR SHAREHOLDERS, DEAR READERS, For Deutsche EuroShop, the first six months of 2022 were good and remained stable in terms of operations. Like-for-like revenue grew by 0.7 % from €104.9 million to €105.7 million. At €84.1 million, net oper- ating income (NOI) was 17.1% above the previous year’s level, while earnings before interest and taxes (EBIT) improved to €76.0 million. The main reason for this improvement was the waning influence as well as the after-effects of the corona pandemic, which had a particu- lar impact in the first half of the previous year. This year, new nega- tive factors have unfortunately emerged such as the war in Ukraine, increased supply chain problems and significantly rising inflation, all of which are weighing on the consumer climate. As expected, customer footfall in the first half of 2022 was significantly better (+72 %) than the same half of the previous year, which saw long periods of lockdown. However, visitor numbers were still significantly lower (-24%) compared to the first half of 2019, which was not affected by the pandemic. Our tenant revenue from January to May 2022 aver- aged about 89 % of the revenue during the same period in 2019. For the collection ratio, the ratio of incoming payments to rent and ancillary cost receivables from tenants, we again registered almost the usual normal level for agreed incoming payments (98 %). Earnings before taxes and valuation gains / losses (EBT before valu- ation) increased by 16.1% in the first half of the year to €64.7 million. Consolidated profit also increased significantly by 25.5 % to €46.2 mil- lion, and EPRA earnings also rose by 12.0 % to €60.8 million. Funds from operations (FFO) adjusted for measurement gains / losses and non-recurring effects were up €12.4 million up on the first half of the previous year to €66.7 million (+22.8 %), which equates to FFO per share of €1.08. Our balance sheet ratios are good – even after more than two years of the pandemic. The equity ratio was stable at 56.3 % and the loan-to-value (LTV) ratio was low at 29.0 %. Group liquidity as of the balance sheet date amounted to €377.8 million. KEY CONSOLIDATED FIGURES in € million Revenue Net operating income (NOI) EBIT EBT (excluding measurement gains / losses 1) EPRA 2 earnings FFO Consolidated profit in € EPRA 2 earnings per share FFO per share Earnings per share Weighted number of no- par-value shares issued in € million Equity 3 Liabilities Total assets EPRA 2 NTA EPRA 2 NTA per share in € Equity ratio in % 3 LTV ratio in % 4 LTV ratio (pro rata) in % 4 01.01. – 30.06.2022 01.01. – 30.06.2021 105.7 84.1 76.0 64.7 60.8 66.7 46.2 104.9 71.9 70.5 55.7 54.3 54.3 36.8 01.01. – 30.06.2022 01.01. – 30.06.2021 0.98 1.08 0.75 0.88 0.88 0.60 + / - 0.7 % 17.1 % 7.8 % 16.1 % 12.0 % 22.8 % 25.5 % + / - 11.4 % 22.7 % 25.0 % 61,783,594 61,783,594 0.0 % 30.06.2022 31.12.2021 2,432.6 1,888.6 4,321.2 2,427.1 39.29 56.3 29.0 31.7 2,377.8 1,901.0 4,278.8 2,374.4 38.43 55.6 30.5 33.3 + / - 2.3 % -0.7 % 1.0 % 2.2 % 2.2 % Cash and cash equivalents 377.8 328.8 14.9 % 1 Including the share attributable to joint ventures and associates accounted for using the equity method 2 European Public Real Estate Association 3 Including third-party interests in equity 4 Loan-to-value ratio (LTV ratio): ratio of net financial liabilities (financial liabilities less cash and cash equivalents) to non-current assets (investment properties and finan- cial investments accounted for using the equity method). The LTV ratio (pro rata) is calculated on the basis of the Group’s share in the subsidiaries and joint ventures. 01

H1 2022 / Half-year Financial Repor t dated 30 June 2022 Deutsche EuroShop AG Main-Taunus-Zentrum, Sulzbach / Frankfurt It is clear from these figures that our operating business is now grad- ually putting the pandemic behind it and is well positioned for the future. The same applies to the financing of the Company. We have already concluded all follow-up financing for 2022, and so will be able to reduce annual interest expenses by a further €0.5 million. The Com- pany has already agreed a term sheet with a consortium of banks for €209 million of funding for the Main-Taunus-Zentrum, which is the only financing due in 2023. No additional follow-up financing is then due until September 2025. In July, Wilhelm Wellner and I reached an agreement with the Super- visory Board that following the takeover of Deutsche EuroShop by Oaktree and CURA, which has now been completed, we would no longer be available to continue working together as the Executive Board in the long term. After 17 exciting and enjoyable years serv- ing Deutsche EuroShop with its small and effective team, I will bid you farewell on 30 September and would like to thank you for your trust. I wish the future Executive Board much success and wish you all the best and a lot of fun shopping! Hamburg, August 2022 Olaf Borkers An update on the portfolio: we recently published new investment plans for the Main-Taunus-Zentrum (MTZ), one of the largest and highest-turnover shopping centers in Germany. A new highlight is to be added to the MTZ, creating a new lively urban center with a high- quality and varied gastronomy and food offering. Five new freestand- ing restaurant buildings are to be built by 2024, some with covered terraces and some with open terraces, attractively landscaped out- door areas and sophisticated architecture. The new “Foodgarden” will be built on an area of around 7,000 m² in the heart of the shopping center on the site of a former department store building. At the Annual General Meeting to be held on 30 August 2022, the Exec- utive Board and Supervisory Board have proposed the distribution of a dividend for financial year 2021 of just under €61.8 million, or €1.00 per share. We confirm our forecast for the year as a whole based on the first six months of 2022. 02

H1 2022 / Half-year Financial Repor t dated 30 June 2022 Deutsche EuroShop AG BASIC INFORMATION ABOUT THE GROUP TAKEOVER OFFER On 23 May 2022, Deutsche EuroShop entered into an investment agreement with Hercules BidCo GmbH (“Bidder”), Munich, regard- ing a voluntary public takeover offer for the acquisition of all shares in Deutsche EuroShop AG not directly held by the Bidder against payment of a consideration. The takeover offer was published by the Bidder on 9 June 2022. The Executive Board and Supervisory Board support the takeover offer in their written statement of rea- sons published on 21 June 2022 (www.deutsche-euroshop.com / Takeover-Offer). The acceptance period for the Bidder’s offer to the shareholders of Deutsche EuroShop ended on 7 July 2022. On 8 July 2022, the Bidder announced that the predefined minimum acceptance threshold had been exceeded and that all other offer conditions had also been met. At the end of the final tender period (end of July), the Bidder directly and indirectly holds 84.38 % of the shares in Deutsche EuroShop AG. The new majority shareholder has undertaken to provide strategic and financial support to the Executive Board in the further imple- mentation of Deutsche EuroShop’s business strategy. Furthermore, the Bidder supports Deutsche EuroShop’s efforts to optimise its portfolio, among other things by streamlining the portfolio struc- ture and upgrading the portfolio through the acquisition of invest- ments in shopping centers which have so far been made jointly with co-partners. In addition, the Bidder intends to cooperate with the Executive Board and the Supervisory Board of Deutsche EuroShop with regard to the optimisation of its capital structure in order to increase its ability to pay dividends in the future and to increase Deutsche EuroShop’s leverage ratio to 50 % to 60 %. GROUP BUSINESS MODEL Deutsche EuroShop is an Aktiengesellschaft (public company) under German law. The Company’s registered office is in Hamburg. Deutsche EuroShop is the only public company in Germany to invest solely in shopping centers in prime locations. A total of 21 shop- ping centers in Germany, Austria, Poland, Hungary and the Czech Republic are held in the real estate portfolio. The Group generates its reported revenue from rental income on the space it lets in the shopping centers. The shopping centers are held by independent companies, with Deutsche EuroShop holding stakes of 100 % in twelve of them and between 50 % and 75 % in the other nine. The operational manage- ment of the shopping centers is contracted out to external service providers under agency contracts. The Group managing company is Deutsche EuroShop AG. It is responsible for corporate strategy, portfolio and risk management, financing and communication. The Deutsche EuroShop Group has a central structure and lean personnel organisation. The share capital amounted to €61,783,594 on 30 June 2022 and was composed of 61,783,594 no-par value registered shares. The notional value of each share in the share capital is €1.00. OBJECTIVES AND STRATEGY The management focuses on investments in high-quality shopping centers in inner cities and established locations offering the poten- tial for stable, long-term value growth. A key investment target is the generation of high surplus liquidity from leases in shopping centers, of which a significant part can be paid out to shareholders in the form of an annual dividend. To this end, the Company invests its cap- ital in shopping centers in different European regions in accordance with the principle of risk diversification. Germany is the main focus of investment. Indexed and revenue-linked commercial rents ensure that high earnings targets are achieved. The Company may invest up to 10 % of equity in joint ventures in shopping center projects in the early stages of development. New investments should be financed from a balanced mix of sources, and external financing may 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. Due to the new ownership structure, Deutsche EuroShop AG’s objec- tives and strategy will be revised in the next few months, which we will then report on in a timely manner. 03

H1 2022 / Half-year Financial Repor t dated 30 June 2022 Deutsche EuroShop AG MANAGEMENT SYSTEM The Executive Board of Deutsche EuroShop AG manages the Com- pany in accordance with the provisions of German company law and with its rules of procedure. The Executive Board’s duties, responsi- bilities and business procedures are laid down in its rules of proce- dure and in its schedule of responsibilities. The management indicators (performance indicators) are based on the targets of having shopping centers with sustainable and sta- ble value growth and generating a high liquidity surplus from their long-term leases. These indicators are revenue, EBIT (earnings before interest and taxes), EBT (earnings before taxes) excluding measurement gains / losses and FFO (funds from operations). Due to the higher rent defaults and arrears as a result of the corona pandemic, these management metrics currently have only limited information value in some cases, so the collection ratio will be used for management purposes as a supplement until further notice. The collection ratio measures the ratio of incoming payments to rent and ancillary cost receivables from tenants. ECONOMIC REVIEW MACROECONOMIC AND SECTOR-SPECIFIC CONDITIONS Despite difficult global economic conditions, the German economy grew slightly in the first half of the year. In particular, the war in Ukraine as well as the corona pandemic which is still ongoing have further exacerbated existing distortions such as disrupted supply chains and rising wages. Although on the one hand private consump- tion benefited from the easing of the corona measures, rising prices caused restraint on the other. In Germany, Deutsche EuroShop’s main market, gross domestic product (GDP) stagnated in the second quarter following a 0.8 % rise in the opening quarter of 2022. Year- on-year, price-adjusted GDP in the second quarter of 2022 was 1.5 % higher than in the second quarter of 2021, when the German econ- omy was significantly affected by the impact of the third wave of the corona pandemic. Adjusted by price and calendar effects, GDP in the second quarter of 2022 was 1.4% higher than in the previous year. The unemployment rate at the end of June 2022 stood at 5.2 % (end- June 2021: 5.7 %). Since the start of the war in Ukraine at the end of February 2022, consumer sentiment in Germany has deteriorated massively. A slight turnaround was achieved here in June, with consumer sen- timent returning to levels seen in April. Despite this increase, con- sumer confidence is still significantly lower than in the same month of the previous year. Economic expectations also improved in June, but still remain in negative territory. Income expectations paint a more optimistic picture. In terms of propensity to buy, the previous negative trend can still be seen. In June, this figure reached a new all-time low. In the process, consumer interests are shifting a step further away from “purchases” to “savings”. According to the Federal Statistical Office, total German retail sales rose by 0.7 % year on year in real terms in the first six months of 2022. Despite high inflation, the corona pandemic and the war in Ukraine, the non-food retail sector ended the first half of the year with an increase of 5.8 %. The main growth driver was textiles, apparel, footwear and leather goods (+69.1%), which had suffered badly from lockdown meas- ures in the previous-year period. The online and mail order busi- ness lost 11.3 % in real terms during the same period. In June 2022, retail sales slumped as a result of this. Non-food retail sales fell -3.3 % month-on-month in real terms in June 2022. The trade in tex- tiles, clothing, footwear and leather goods in particular was unable to continue the positive trend of the year to date, posting a significant decline of 5.4% on the previous month and 10.1% on the same month of the previous year. Compared to June 2019, sales are still 13.6% below pre-pandemic levels. Online and mail order sales were also down 3.8 % on the previous month, and were significantly lower than in the same month of the previous year (-15.1%). However, compared to June 2019, sales in this segment are still 22.3 % above pre-pan- demic levels. 04

H1 2022 / Half-year Financial Repor t dated 30 June 2022 Deutsche EuroShop AG RESULTS OF OPERATIONS in € thousand Revenue Operating and administrative costs for property Write-downs and derecognition of receivables NOI Other operating income Other operating expenses EBIT At-equity proﬁt / loss Measurement gains / losses (at equity) Deferred taxes (at equity) At-equity (operating) profit / loss Interest expense Profit / loss attributable to limited partners Other financial gains / losses Financial gains or losses (excl. measurement gains / losses) EBT (excl. measurement gains / losses) Measurement gains / losses Measurement gains / losses (at equity) Measurement gains / losses (including at-equity profit / loss) Taxes on income and earnings Deferred taxes Deferred taxes (at equity) Deferred taxes (including at equity) CONSOLIDATED PROFIT 01.01. – 30.06.2022 01.01. – 30.06.2021 105,691 -16,155 -5,404 84,132 2,480 -10,570 76,042 14,753 -18,066 -8,045 45 -11,313 64,729 -8,206 -3,900 -6,438 46,185 13,278 -1,777 11 -13,090 1,777 -6,138 -11 104,928 -14,962 -18,103 71,863 2,309 -3,650 70,522 11,512 -20,483 -5,807 4 -14,774 55,748 -11,313 -1,479 -6,149 36,807 13,749 951 53 -7,255 -951 -6,385 -53 Change + / - 763 -1,193 12,699 12,269 171 -6,920 5,520 3,241 2,417 -2,238 41 3,461 8,981 3,107 -2,421 -289 9,378 in % 0.7 -8.0 70.1 17.1 7.4 -189.6 7.8 28.2 11.8 -38.5 1,025.0 23.4 16.1 27.5 -163.7 -4.7 25.5 Revenue at previous year’s level In contrast to the previous year, which was significantly affected by store closures ordered by the authorities, all our tenants were able to open their stores in the first half of 2022. The rental concessions granted for the closure phases in the first half of 2021 are mainly reflected in the previous-year item “Write-downs and derecognition of receivables” and only to a small extent in revenue. As a result, revenue of €105.7 million was roughly on a par with the previous year. The protective measures still in place in particular the first quarter of 2022 in particular and the continued effects of the corona pandemic – such as defaults by tenants who got into payment dif- ficulties, lower revenue-linked rents, longer post-rental periods and higher vacancy rates – mean that revenue remains far off its pre-pandemic levels. Center operating expenses up on previous year due to higher non-apportionable ancillary costs The center operating expenses of €16.2 million in the reporting period, mainly comprising center management fees, non-apportion- able ancillary costs, land taxes, building insurance and maintenance, increased year on year by 8.0 %. This was due to higher vacancy- related, non-apportionable ancillary costs as well as delayed main- tenance measures. 05

H1 2022 / Half-year Financial Repor t dated 30 June 2022 Deutsche EuroShop AG Decline in write-downs The write-downs and derecognition of receivables in the previous year took into account the major part of the agreed and expected rental concessions implemented to mitigate the economic conse- quences of the far-reaching store closures at the beginning of 2021. Furthermore, in both the first half of the previous year as well as the first half of 2022, receivables at risk of default had to be written down and insolvency-related receivables had to be derecognised. Overall, write-downs and derecognition of receivables decreased from €18.1 million to €5.4 million compared with the previous year. Other operating income and expenses Other operating income, stemming primarily from the reversal of provisions, from income from rental receivables for which impair- ment losses had been recognised in previous years and from additional payments with respect to ancillary costs, amounted to €2.5 million, representing an increase on the previous year. At €6.9 million, other operating expenses, which mainly comprised general administrative costs and personnel costs, were higher than in the same period of the previous year, due in particular to higher consultancy costs in connection with the takeover offer. EBT (excluding measurement gains / losses) up significantly The improvement in EBIT and at-equity profit / loss plus the further reduction in interest expenses caused EBT (excluding measurement gains / losses) to jump from €55.7 million to €64.7 million (+16.1 %). Measurement gains / losses slightly negative Property values remained largely stable in the first half of 2022, resulting in a negative valuation result of €8.2 million after investments. Of this, €-7.3 million after minority interests was attributable to the measurement of the real estate assets reported by the Group and €-0.9 million to the measurement of the real estate assets of joint ventures accounted for using the equity method. The average value of Group properties after ongoing investments was unchanged in the first half of 2022, whereby the range of changes in market value remained between -1.9 % and +1.5 %. The occupancy rate of 94.5 % (+0.2 % compared with the last reporting date) improved slightly and remained at a high level. EBIT higher than in the previous year Earnings before interest and taxes (EBIT) at €76.0 million were above the figure for the previous year (€70.5 million), mainly as a result of the higher rental concessions granted in the previous year for the closure periods. Taxes on income and earnings Taxes on income and earnings rose to €3.9 million (previous year: €1.5 million) as a result of the improvement in earnings. Deferred taxes resulting mainly from the systematic amortisation of the tax balance sheet values of our real estate assets amounted to €6.4 mil- lion (previous year: €6.1 million). Improvement in financial gains / losses excluding measurement effects At €-11.3 million, financial losses (excluding measurement effects) improved year on year (previous year: €-14.8 million). At-eq- uity (operating) earnings increased year on year by €3.2 million to €14.8 million, due in particular to higher write-downs on rent receiv- ables and revenue shortfalls as a result of the corona pandemic. The interest expenses of Group companies were reduced by a further €2.4 million. In addition to scheduled repayments, the refinancing terms agreed at lower interest rates for the Billstedt-Center Ham- burg, the City-Galerie Wolfsburg and the Altmarkt-Galerie Dresden had a particularly positive effect here. The share of earnings attrib- utable to limited partners increased by €2.2 million to €8.0 million due to the improved EBIT. 06

H1 2022 / Half-year Financial Repor t dated 30 June 2022 Deutsche EuroShop AG EPRA earnings and consolidated profit higher than previous year EPRA earnings, which exclude measurement gains / losses, recov- ered to €60.8 million or €0.98 per share, in particular as a result of the previous year’s lower write-downs on rental receivables. At €46.2 million, consolidated profit was €9.4 million higher than the previous year (€36.8 million) and earnings per share increased from €0.60 to €0.75. Development of funds from operations Funds from operations (FFO) are used to finance our ongoing invest- ments in portfolio properties, scheduled repayments on our long- term bank loans and as the basis for the distribution of dividends. Significant non-recurring effects that are not part of the Group’s operating activities are eliminated in the calculation of FFO. FFO increased from €54.3 million to €66.7 million or from €0.88 to €1.08 per share. EPRA EARNINGS FUNDS FROM OPERATIONS 01.01. – 30.06.2022 01.01. – 30.06.2021 01.01. – 30.06.2022 01.01. – 30.06.2021 in € thousand per share in € in € thousand per share in € in € thousand per share in € in € thousand per share in € Consolidated profit 46,185 0.75 36,807 0.60 Consolidated profit 46,185 0.75 36,807 0.60 8,206 0.13 11,313 0.18 8,206 0.13 11,313 0.18 Measurement gains / losses on investment properties 1 Deferred tax adjust- ments pursuant to EPRA 2 6,438 0.10 6,149 0.10 0.88 EPRA EARNINGS 60,829 0.98 54,269 Weighted number of no-par-value shares issued 61,783,594 61,783,594 1 Including the share attributable to joint ventures and associates accounted for using the equity method 2 Relates to deferred taxes on investment properties and derivative financial instruments Measurement gains / losses on investment properties 1 Expenses in connection with the takeover offer Deferred taxes 1 5,871 6,438 0.10 0.10 0 6,149 0.00 0.10 0.88 FFO 66,700 1.08 54,269 Weighted number of no-par-value shares issued 61,783,594 61,783,594 1 Including the share attributable to joint ventures and associates accounted for using the equity method RE VENUE in € million EBIT in € million EBT * in € million FFO PER SHARE in € 104.9 105.7 1.08 0.88 70.5 76.0 64.7 55.7 0.7% 7.8% 16.1% 22.7% H1 2021 H1 2022 H1 2021 H1 2022 H1 2021 H1 2022 H1 2021 H1 2022 * excluding measurement gains / losses 07

H1 2022 / Half-year Financial Repor t dated 30 June 2022 Deutsche EuroShop AG FINANCIAL POSITION AND NET ASSETS NET ASSETS AND LIQUIDIT Y The Deutsche EuroShop Group’s total assets increased slightly compared with the last reporting date, rising by €42.5 million to €4,321.2 million. The improved collection ratio meant that the Group’s receivables (after write-downs) decreased by €4.0 million to €18.8 million (previ- ous year: €22.8 million). The Group’s liquidity improved by €49.0 mil- lion to €377.8 million compared with the last reporting date. in € thousand Current assets 30.06.2022 31.12.2021 Change 419,049 377,900 Non-current assets 3,902,194 3,900,890 41,149 1,304 Current liabilities 269,072 279,230 -10,158 Non-current liabilities 1,619,528 1,621,780 -2,252 Equity (including third-party interests) 2,432,643 2,377,780 54,863 TOTAL ASSETS 4,321,243 4,278,790 42,453 The collection ratio, representing the ratio of incoming payments to rent and ancillary cost receivables from tenants, showed the fol- lowing movements in each individual month in 2021 up to the end of June 2022 as a result of the corona pandemic (adjustments from agreed rent reductions already taken into account): COLLEC TION R ATIO * in % Q1 2021 89% Q2 2021 93% 90 89 88 92 91 95 Q3 2021 99% 99 99 100 Q4 2021 98% 99 100 96 Q1 2022 98% Q2 2022 98% 97 99 97 98 99 96 Jan. Feb. Mar. Apr. May June Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June * after rent reductions 08

H1 2022 / Half-year Financial Repor t dated 30 June 2022 Deutsche EuroShop AG BAL ANCE SHEE T STRUC TURE in € million Assets Liabilities 4,278.8 4,321.2 4,321.2 4,278.8 377.9 419.0 269.1 279.2 3,900.9 3,902.2 1,619.5 1,621.8 2,432.6 2,377.8 Current assets Non-current assets 2021 2022 2022 2021 Current liabilities Non-current liabilities Equity (includ- ing third-party interests) Equity ratio of 56.3 % The equity ratio (including the shares of third-party shareholders) was 56.3 %, almost unchanged from the previous reporting date (55.6%) and still at a very solid level. Non-current, deferred tax liabilities increased by €8.8 million to €341.8 million due to further additions. Other current and non- current liabilities and provisions decreased by €15.0 million. Leverage ratio remains low As at 30 June 2022, current and non-current financial liabilities stood at €1,495.9 million, €6.2 million lower than at the end of 2021, due to scheduled repayments. The refinancing for 2022 has been completed. We are in advanced negotiations regarding the 2023 refi- nancing. We regularly exchange information with our banks on the impact of the pandemic-related business closures and their after-ef- fects on our financial ratios and loan covenants. As at 30 June 2022, all loan covenants were met. Net tangible assets according to EPRA Net tangible assets (NTA) as at 30 June 2022 were €2,427.1 million, compared with €2,374.4 million at the end of 2021. This was equiv- alent to a increase in NTA per share of €0.86, from €38.34 to €39.29 per share (2.2 %). EPRA NTA Equity Derivative financial instruments measured at fair value1 Equity excluding derivative financial instruments Deferred taxes on investment properties and derivative financial instruments 1 Intangible assets Goodwill as a result of deferred taxes EPRA NTA 30.06.2022 31.12.2021 in € thousand per share in € in € thousand per share in € 2,117,468 12,579 2,130,047 348,776 -34 -51,719 2,427,070 34.27 0.20 34.47 5.66 0.00 -0.84 39.29 2,062,866 23,398 2,086,264 339,937 -32 -51,719 2,374,450 33.39 0.38 33.77 5.50 0.00 -0.84 38.43 Number of no-par-value shares issued as at the reporting date 61,783,594 61,783,594 1 Including the share attributable to equity-accounted joint ventures and associates 09

H1 2022 / Half-year Financial Repor t dated 30 June 2022 Deutsche EuroShop AG REPORT ON EVENTS AFTER THE REPORTING DATE Hercules BidCo GmbH (“Bidder”) announced on 8 July 2022 that the predefined minimum acceptance threshold of the takeover offer has been exceeded and that all other offer conditions have also been met. At the time of the preparation of the financial statements, the Bidder directly and indirectly holds 84.38 % of the shares in Deutsche EuroShop AG. A termination agreement was concluded on 19 July 2022 with Wilhelm Wellner, who had temporarily stepped down from the Executive Board as of 20 April 2022, and his reappointment to the Executive Board as of 1 October 2022 was therefore revoked. In addition, the current sole member of the Executive Board, Olaf Borkers, has asked the Supervisory Board not to renew his Exec- utive Board contract, which expires on 30 September 2022. The Supervisory Board has begun the search for successors. No further significant events occurred between the reporting date of 30 June 2022 and the date on which the financial statements were prepared. OUTLOOK ECONOMIC CONDITIONS For 2022, the German Council of Economic Experts expects German GDP to increase by 1.8 %. With regard to price developments, the experts at the German Federal Ministry for Economic Affairs and Energy expect inflation to rise to 6.1% and average unemployment figures to fall during the course of the year, the latter due in particu- lar to the increasing phasing out of restrictions related to the pan- demic. Economists expect this to be accompanied by at least a slight recovery in private consumer spending of 3.2 % in nominal terms and a decline in the savings ratio from 15.0 % to 11.1% of disposable income. Experts believe that the war in Ukraine will increase uncer- tainty about the economy and put a dampener on growth. They also believe that this is contributing to the rise in energy and consumer prices. The German Council of Economic Experts expects economic output for the coming year to grow by 3.6% and inflation by 3.4%. However, experts say that these forecasts are highly uncertain, as it is difficult at present to fully assess the impact of the war in Ukraine. In par- ticular, the German economy could fall into recession as a result of a ban on importing Russian energy sources, regardless of whether this ban comes from the EU or Russia. In addition to this, economic experts said there is still a risk that a renewed increase in infections as a result of new mutations of the coronavirus could once again have a significant economic impact, and thus slow the recovery in the consumption of contact-intensive services. The regulations of the new Infection Protection Act, which will come into force in Ger- many in autumn 2022, may also have an impact on our tenants’ retail and restaurant sales depending on how they are implemented in the respective countries. EXPECTED RESULTS OF OPERATIONS AND FINANCIAL POSITION After a good first half with funds from operations (FFO) of €1.08 per share, we confirm our forecast for financial year 2022 with FFO of €1.95 to €2.05 per share (2021: €1.98). The one-off legal and consult- ing expenses incurred in connection with the takeover offer were not included in calculating FFO. FFO PER SHARE in € Result 2.00 Result 1.98 Gain 1.95 – 2.05 2020 2021 2022 Dividend planning The Executive Board, together with the Supervisory Board, has resolved to propose to the (virtual) Annual General Meeting sched- uled for 30 August 2022, the payment of a dividend of €1.00 per share for financial year 2021. 10

H1 2022 / Half-year Financial Repor t dated 30 June 2022 Deutsche EuroShop AG RISK REPORT Since the beginning of the financial year, economic uncertainties have increased significantly due to the war in Ukraine, the coro- na-related lockdown in China as well as higher energy prices affect- ing consumer behaviour and the cost burden on households. It is not yet possible to quantify the impact on our business at present. We are monitoring these developments on an ongoing basis and will adjust our assessment of future business performance where nec- essary. There have been no significant changes to information pro- vided in the risk report of the combined management report as at 31 December 2021 (see Annual Report 2021, p. 19 onwards). We do not believe that the Company currently faces any risks capable of jeopardising its continued existence. CONSOLIDATED BALANCE SHEET ASSETS in € thousand ASSETS Non-current assets Intangible assets LIABILITIES 30.06.2022 31.12.2021 in € thousand 30.06.2022 31.12.2021 EQUITY AND LIABILITIES Equity and reserves 51,753 51,751 Subscribed capital 61,784 61,784 1,217,560 1,217,560 838,124 783,522 2,117,468 2,062,866 Property, plant and equipment 172 244 Capital reserves Investment properties 3,395,616 3,393,554 Retained earnings Investments accounted for using the equity method 454,653 455,341 Total equity Non-current assets 3,902,194 3,900,890 Current assets Trade receivables Other current assets Cash and cash equivalents Current assets 18,824 22,464 22,763 26,298 377,761 328,839 419,049 377,900 Non-current liabilities Financial liabilities Deferred tax liabilities Right of redemption of limited partners Other liabilities 1,264,487 1,264,748 341,822 315,175 13,219 333,037 314,914 23,995 Non-current liabilities 1,934,703 1,936,694 Current liabilities Financial liabilities Trade payables Tax liabilities Other provisions Other liabilities Current liabilities 231,395 237,366 6,801 110 11,610 19,156 5,345 196 10,120 26,203 269,072 279,230 TOTAL ASSETS 4,321,243 4,278,790 TOTAL EQUITY AND LIABILITIES 4,321,243 4,278,790 11

H1 2022 / Half-year Financial Repor t dated 30 June 2022 Deutsche EuroShop AG CONSOLIDATED INCOME STATEMENT in € thousand Revenue Property operating costs Property management costs Write-downs and disposals of financial assets Net operating income (NOI) Other operating income Other operating expenses Earnings before interest and taxes (EBIT) Share in the profit or loss of associates and joint ventures accounted for using the equity method Interest expense Profit / loss attributable to limited partners Interest income Financial gains / losses Measurement gains / losses Earnings before tax (EBT) Taxes on income and earnings CONSOLIDATED PROFIT Earnings per share (€), undiluted and diluted 01.04. – 30.06.2022 01.04. – 30.06.2021 01.01. – 30.06.2022 01.01. – 30.06.2021 53,630 -5,182 -2,728 -1,947 43,773 787 -7,797 36,763 6,832 -8,971 -4,102 32 -6,209 -4,039 26,515 -4,872 21,643 0.37 53,024 -5,204 -2,259 -6,235 39,326 1,525 -1,772 39,079 8,890 -10,278 -3,514 2 -4,900 -15,933 18,246 -3,761 14,485 0.24 105,691 -10,792 -5,363 -5,404 84,132 2,480 -10,570 76,042 13,749 -18,066 -8,045 45 -12,317 -7,255 56,470 -10,285 46,185 0.75 104,928 -9,901 -5,061 -18,103 71,863 2,309 -3,650 70,522 13,278 -20,483 -5,807 4 -13,008 -13,090 44,424 -7,617 36,807 0.60 STATEMENT OF COMPREHENSIVE INCOME in € thousand Consolidated profit Items which under certain conditions in the future will be reclassified to the income statement: Actual share of the profits and losses from instruments used to hedge cash flows Deferred taxes on changes in value offset directly against equity Total earnings recognised directly in equity TOTAL PROFIT Share of Group shareholders 01.04. – 30.06.2022 01.04. – 30.06.2021 01.01. – 30.06.2022 01.01. – 30.06.2021 21,643 14,485 46,185 36,807 4,694 -1,038 3,656 25,299 25,299 1,335 -291 1,044 15,529 15,529 10,819 -2,402 8,417 54,602 54,602 -1,156 270 -886 35,921 35,921 12

H1 2022 / Half-year Financial Repor t dated 30 June 2022 Deutsche EuroShop AG CONSOLIDATED STATEMENT OF CHANGES IN EQUITY in € thousand 01.01.2021 Total profit Dividend payments 30.06.2021 01.01.2022 Total profit Dividend payments Number of shares outstanding Share capital Capital reserves Other retained earnings Statutory reserve Cash flow hedge reserve Total 61,783,594 61,784 1,217,560 742,183 2,000 -20,281 2,003,246 0 0 0 0 36,807 -2,471 0 0 -886 0 35,921 -2,471 61,783,594 61,784 1,217,560 776,519 2,000 -21,167 2,036,696 61,783,594 61,784 1,217,560 799,657 2,000 -18,135 2,062,866 0 0 0 0 46,185 0 0 0 8,417 0 54,602 0 30.06.2022 61,783,594 61,784 1,217,560 845,842 2,000 -9,718 2,117,468 CONSOLIDATED CASH FLOW STATEMENT in € thousand Consolidated profit Income taxes Financial gains / losses Amortisation /depreciation of intangible assets and property, plant and equipment with a finite life Unrealised changes in fair value of investment property and other measurement gains / losses Distributions and capital repayments received Changes in trade receivables and other assets Changes in current provisions Changes in liabilities Cash flow from operating activities Interest paid Interest received Income taxes paid Net cash flow from operating activities Outflows for the acquisition of investment properties Outflows for the acquisition of intangible assets and property, plant and equipment Cash flow from investing activities Inflows from financial liabilities Outflows from the repayment of financial liabilities Outflows from the repayment of lease liabilities Payments to limited partners Payments to Group shareholders Cash flow from financing activities Net change in cash and cash equivalents Cash and cash equivalents at beginning of period CASH AND CASH EQUIVALENTS AT END OF PERIOD 01.01. – 30.06.2022 01.01. – 30.06.2021 46,185 10,285 12,317 78 7,255 14,437 8,077 1,490 -5,500 94,624 -18,395 45 -4,290 71,984 -10,417 -9 -10,426 0 -5,903 -49 -6,684 0 -12,636 48,922 328,839 377,761 36,807 7,617 13,008 63 13,090 6,464 -10,815 -2,737 -696 62,801 -20,333 4 -494 41,978 -3,110 -36 -3,146 5,059 -38,785 -45 -529 -2,471 -36,771 2,061 266,030 268,091 13

H1 2022 / Half-year Financial Repor t dated 30 June 2022 Deutsche EuroShop AG DISCLOSURES REPORTING PRINCIPLES These interim financial statements of the Deutsche EuroShop Group as at 30 June 2022 have been prepared in compliance with IAS 34 (Interim Financial Reporting) in an abridged form. The abridged interim financial statements are to be read in conjunction with the consolidated financial statements as at 31 December 2021. The interim financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS), as they must be applied in the EU. The accounting policies applied corre- spond to those used in the last consolidated financial statements as at the end of the financial year. For a detailed description of the methods applied, please refer to the notes to our consolidated finan- cial statements for 2021 (2021 Annual Report, p. 42 onwards). The new accounting standards and interpretations for which appli- cation became compulsory on 1 January 2022 were observed; however, these did not have any impact on the presentation of the financial statements. The interim financial statements as at 30 June 2022 have neither been audited in accordance with Section 317 of the German Com- mercial Code (HGB) nor reviewed by an auditor. DISCLOSURES ON THE CONSOLIDATED BAL ANCE SHEET AND THE CONSOLIDATED INCOME STATEMENT Investment properties Investment properties performed as follows in the first half of 2022: in € thousand 2022 2021 Carrying amount as at 1 January 3,393,554 3,437,145 Recognised construction measures Unrealised changes in fair value 10,417 -8,355 18,732 -62,323 Carrying amount at 30 June /31 December 3,395,616 3,393,554 Investment properties (IAS 40) were measured at fair value. Meas- urements were performed by the appraiser JLL as at 31 Decem- ber 2021 and 30 June 2022. The discounted cash flow method (DCF) was used as at 31 December 2021. Please refer to the notes on the DCF method in our 2021 Annual Report on page 42 onwards. This is a Level 3 valuation method in the valuation hierarchy of IFRS 13. The following overview shows the key assumptions used by JLL to determine the market values: Valuation parameters in % 30.06.2022 31.12.2021 Rate of rent increases 1 Cost ratio Discount rate Capitalisation interest rate 1.49 12.18 6.26 5.25 1.34 11.59 6.06 5.24 1 Nominal rental growth rate in the DCF model over the measurement period of 10 years, taking into account inflation-related rent indexation and changes in the occupancy rate A 25 or 100 bp change in a material parameter (sensitivity analysis) of real estate appraisals would have the following pre-tax impact on measurement gains / losses (including the share attributable to at-equity consolidated companies): Sensitivity analysis – Valuation parameters Rate of rent increases Cost ratio Discount rate Basis 1.49 12.18 6.26 Capitalisation interest rate 5.25 Change in parameter in points + 0.25 % - 0.25 % + 1.00 % - 1.00 % + 0.25 % - 0.25 % + 0.25 % - 0.25 % in € million 148.2 -109.7 -32.3 41.3 -68.0 68.8 -105.3 112.5 in % 4.2 -3.1 -0.9 1.2 -1.9 1.9 -3.0 3.2 The appraisal showed that for the first half of 2022 the real estate portfolio had a net initial yield before transaction costs of 5.87 %, compared with 5.78 % in 2021, and a net initial yield after transac- tion costs of 5.54%, compared with 5.45 % in 2021. Outstanding tenant incentives granted and still to be spread over the term of the leases amounting to €17.2 million were deducted from the appraisal value. These were reported under other assets and trade receivables. 14

H1 2022 / Half-year Financial Repor t dated 30 June 2022 Deutsche EuroShop AG Financial instruments With the exception of derivative financial instruments and other financial investments measured at fair value, financial assets and liabilities were measured at amortised cost. Due to the predomi- nantly short-term nature of trade receivables, other assets and other liabilities and cash and cash equivalents, the carrying amounts on the reporting date did not deviate significantly from the fair values. The fair values of financial liabilities measured at amortised cost were equal to the net present value of debt-related pay- ments based on current yield curves (Level 2 under IFRS 13) and amounted to €1,412.0 million as at 30 June 2022 (31 December 2021: €1,522.8 million). SEGMENT REPORTING Segment reporting by Deutsche EuroShop AG is carried out on the basis of internal reports that are used by the Executive Board to manage the Group. Internal reports distinguish between shopping centers in Germany (“domestic”) and other European countries (“abroad”). As the Group’s main decision-making body, the Executive Board of Deutsche EuroShop AG first and foremost assesses the perfor- mance of the segments based on revenue, EBIT and EBT excluding measurement gains / losses. The measurement principles for seg- ment reporting correspond to those of the Group. The derivative financial instruments measured at fair value were interest rate hedges. Here, the fair value was equivalent to the cash value of future net payments expected to be received from hedging transactions (Level 2 in accordance with IFRS 13) based on current yield curves. Liabilities from interest rate hedges totalled €12.6 mil- lion as at 30 June 2022 (31 December 2021: €23.4 million). To assess the contribution of the segments to the individual perfor- mance indicators as well as to the Group’s performance, the income, expenditure, assets and liabilities of the joint ventures are included in internal reporting in proportion to the Group’s share in them. Sim- ilarly, for subsidiaries in which the Group is not the sole shareholder, income, expenditure, assets and liabilities are only consolidated in proportion to the corresponding Group share. This results in the segments being divided as follows: BREAKDOWN BY SEGMENT in € thousand Revenue (01.01. – 30.06.2021) EBIT (01.01. – 30.06.2021) EBT excl. measurement gains / losses (01.01. – 30.06.2021) Germany 90,714 (92,598) 71,424 (63,578) 57,332 (46,705) Abroad 22,470 (19,871) 19,621 (14,766) 16,274 (11,349) Total Reconciliation 113,184 (112,469) 91,045 (78,344) 73,606 (58,054) -7,493 (-7,541) -15,003 (-7,822) -8,877 (-2,306) Segment assets (31.12.2021) of which investment properties (31.12.2021) 3,091,746 (3,079,136) 2,862,840 (2,866,680) 725,358 (719,686) 682,708 (677,468) 3,817,104 (3,798,822) 3,545,548 (3,544,148) 504,139 (479,968) -149,932 (-150,594) 01.01. – 30.06.2022 105,691 (104,928) 76,042 (70,522) 64,729 (55,748) 30.06.2022 4,321,243 (4,278,790) 3,395,616 (3,393,554) 15

H1 2022 / Half-year Financial Repor t dated 30 June 2022 Deutsche EuroShop AG The adjustment of the proportionate consolidation of the joint ven- tures and subsidiaries in which the Group does not own a 100 % stake is carried out in the reconciliation column. Deferred tax liabili- ties are considered by the Executive Board of Deutsche EuroShop AG in a cross-segment manner, and are therefore included in the rec- onciliation column of the segment liabilities. Accordingly, the good- will from the acquisition of Olympia Brno was allocated to the rec- onciliation column of the segment assets. The reconciliation column also contains the companies that are not allocated to either of the two segments (Deutsche EuroShop AG, DES Management GmbH and DES Beteiligungs GmbH & Co. KG). OTHER DISCLOSURES Responsibility statement by DES Executive Board To the best of my knowledge, and in accordance with the applicable reporting principles for interim financial reporting, the interim con- solidated financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group, and the interim management report of the Group includes a fair review of the performance of the business, including the operating results and the position of the Group, together with a description of the principal opportunities and risks associated with the expected performance of the Group for the remainder of the financial year. In view of the geographical segmentation, no further information pursuant to IFRS 8.33 is given. Hamburg, 11 August 2022 Olaf Borkers REL ATED PARTIES FOR THE PURPOSES OF IAS 24 With regard to disclosures regarding related parties in the consoli- dated financial statements as at 31 December 2021 (Annual Report 2021, p. 58), the following significant change occurred after the bal- ance sheet date of 30 June 2022: After fulfilling all conditions of the takeover offer, Hercules BidCo GmbH is considered a related party within the meaning of IAS 24. Her- cules BidCo GmbH is indirectly jointly controlled by the Oaktree Group, Alexander Otto as well as Cura Vermögensverwaltung GmbH. There- fore, the ECE Group and Curatax GmbH via Alexander Otto are still continued considered related parties within the meaning of IAS 24. 16

H1 2022 / Half-year Financial Repor t dated 30 June 2022 Deutsche EuroShop AG THE SHOPPING CENTER SHARE KEY SHARE DATA After closing * 2021 at €14.64, the Deutsche EuroShop share started the first weeks of 2022 positively, climbing to €18.36 by 17 Febru- ary 2022. In the following days, the stock fell in connection with the uncertain situation in Ukraine, as well as the subsequent invasion by Russia, which began on 24 February 2022. It reached its lowest price of the first half of the year on 7 March 2022 at €14.02. Subse- quently, the DES share price recovered somewhat and rose to €18.53 by 29 March 2022. With the announcement that an investor agree- ment had been concluded with regard to a voluntary public takeover offer by Oaktree and CURA on 23 May 2022, the share price settled at a level roughly between €22.00 and €22.20. DES shares reached their high for the period of €22.26 on 29 June 2022, and closed the first half of the year with a performance of +51.6%. The SDAX fell by 27.6% over the same period. Deutsche EuroShop’s market capi- talisation stood at €1.4 billion as at the end of the reporting period. * Unless otherwise specified, all information and calculations are based on Xetra closing prices. Sector/ industry group Financial Services / Real Estate Share capital on 30.06.2022 €61,783,594.00 Number of shares on 30.06.2022 (no-par-value registered shares) Dividend for 2021 (proposed) Share price on 30.12.2021 Share price on 30.06.2022 Low/ high for the period under review Market capitalisation on 30.06.2022 Prime Standard OTC markets Indices ISIN Ticker-Symbol 61,783,594 €1.00 € 14.64 € 22.20 €14.02 /€22.26 €1.37 billion Frankfurt and Xetra Berlin, Düsseldorf, Hamburg, Hanover, Munich and Stuttgart SDAX, EPRA, GPR 250, EPIX 30, MSCI Small Cap, HASPAX, F.A.Z. Index DE 000748 020 4 DEQ, Reuters: DEQGn.DE DEUTSCHE EUROSHOP VS SDA X AND EPRA COMPARISON, JANUARY TO AUGUST 2022 indexed, base of 100, in %) 170 170 160 160 150 150 140 140 130 130 120 120 110 110 100 100 90 90 80 80 7070 January February March April May June July August EPRA SDAX Deutsche EuroShop 17

H1 2022 / Half-year Financial Repor t dated 30 June 2022 Deutsche EuroShop AG WOULD YOU LIKE FURTHER INFORMATION? Then visit us online 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 FINANCIAL CALENDAR 2022 11 August Half-year Financial Report 2022 30 August Annual General Meeting, Hamburg 08 September Commerzbank Oddo BHF Corporate Conference, Frankfurt 13 - 14 September BofA Global Real Estate Conference, New York 19 September Berenberg and Goldman Sachs German Corporate Conference, Munich 19 - 23 September Baader Investment Conference, Munich 20 October Société Generale The Pan-European Real Estate Conference, London 10 November Quarterly statement 9M 2022 Our financial calendar is updated continuously. Please check our website for the latest events: www.deutsche-euroshop.com/ir Nicolas Lissner and Patrick Kiss Forward-looking statements This quarterly statement contains forward-looking statements based on estimates of future developments by the Executive Board. The statements and forecasts 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 forecast. Rounding and rates of change Percentages and figures stated in this report may be subject to round- ing differences. The sign used to indicate rates of change is based on economic considerations: improvements are indicated by a plus (+); deterioration by a minus (-). 18