Board of Directors and Supervisory Boards of Deutsche EuroShop AG Recommends Shareholders Tender Shares to Offer by Oaktree and CURA

Board of Directors and Supervisory Boards of Deutsche EuroShop AG Recommends Shareholders Tender Shares to Offer by Oaktree and CURA

• Deutsche EuroShop’s Board of Directors and Supervisory Board consider the offer to be fair, adequate and attractive
• Deutsche Bank and Rothschild & Co with Equity Opinions
• The acceptance period is expected to end on July 7, 2022

Hamburg, June 2022 – The Executive Board and Supervisory Board of Deutsche EuroShop AG, Hamburg (“Company”), decided today to recommend to the shareholders of the Company to accept the voluntary tender offer (“To offer”) of Hercules BidCo GmbH, Munich (“Tenderer”). After careful analysis and examination of the information published in the Offer Document by the Offeror, the Management Board and the Supervisory Board consider the cash consideration offered by the Offeror in the amount of EUR 21.50 per share of the Company, which could be increased by the amount of the dividend to be paid for the 2021 financial year by an amount of EUR 1.00 to EUR 22.50 per share depending on the settlement-delivery date of the Offer is fair, adequate and attractive. Consequently, the Management Board and the Supervisory Board welcome and support the Offer. On the basis of the increased price of the offer, the Offer represents a premium of 44.0% compared to the XETRA closing price of the Company’s share on May 20, 2022 (EUR 15.63), the last trading day. stock market prior to the publication of the Offeror’s decision to launch the Offer, and values ​​the Company at a net worth of approximately 1.4 billion euros.

As part of their fairness opinions prepared for the Company, Deutsche Bank and Rothschild & Co also conclude that the offer price is fair, from a financial point of view, for the shareholders of Deutsche EuroShop AG.

The reasoned joint detailed declaration of the Management Board and the Supervisory Board of the Company pursuant to article 27 al. 1 of the German law on the acquisition and takeover of securities (Wertpapiererwerbs- und Übernahmegesetz – WpÜG) is published on the Company’s website at https://www.deutsche-euroshop.com/Offre-reprise.

Deutsche EuroShop AG shareholders can still accept the offer, likely until July 7, 2022. The offer is subject to a minimum acceptance threshold of 50.0% plus one share (including certain shares already held by M Alexander Otto and entities controlled by him, including Kommanditgesellschaft CURA Vermögensverwaltung GmbH & Co.) and certain other customary conditions, including merger control approval of the acquisition by the European Commission or the competent authorities of each State. member of the European Union, as the case may be. The transaction is expected to close in the third quarter of 2022.

Deutsche EuroShop – The Shopping Center Company
Deutsche EuroShop is the only public company in Germany to invest solely in shopping centers in prime locations. The SDAX-listed company currently holds investments in 21 shopping centers in Germany, Austria, Poland, the Czech Republic and Hungary. The portfolio includes the Main-Taunus-Zentrum near Frankfurt, the Altmarkt-Galerie in Dresden and the Galeria Baltycka in Gdansk, among others.