alstria office REIT-AG

Quarterly Report • Aug 4, 2015

HALF-YEAR FINANCIAL REPORT

as at June 30, 2015

CONTENT

Portfolio overview Earnings position Financial and asset position Risk and opportunity report Recent developments and financial targets

Consolidated interim management report 1 4

Consolidated income statement Consolidated statement of comprehensive income Consolidated statement of financial position Consolidated statement of cash flow Consolidated statement of changes in equity Notes

5

to the condensed interim consolidated financial statements as at June 30, 2015

Consolidated interim financial statements 2 18

alstria's share 36

GROUP FINANCIALS

according to IFRS

EUR k	January 1– June 30, 2015	January 1– June 30, 2014	Change (%)
Revenues and Earnings
Revenues	48,324	51,472	–6.1
Net rental income	43,319	45,548	–4.9
Consolidated profit/loss for the period	15,060	6,560	129.6
FFO	23,174	24,455	–5.2
Earnings per share (EUR)	0.18	0.08	125.0
FFO per share (EUR)	0.27	0.31	–12.9
EUR k	June 30, 2015	December 31, 2014	Change (%)
Balance sheet
Investment property	1,614,851	1,645,840	–1.9
Total assets	1,847,226	1,769,304	4.4
Equity	922,238	846,593	8.9
Liabilities	924,988	922,711	0.2
Net asset value (NAV) per share (EUR)	10.59	10.71	–1.1
Diluted NAV per share (EUR)1)	10.65	10.67	–0.2
Net LTV (%)	46.1	50.4	–4.3 pp
G–REIT figures
G–REIT equity ratio (%)	54.3	50.2	4.1 pp
Revenues incl. other income from investment properties (%)	100	100	0.0 pp
EPRA2) key figures	January 1– June 30, 2015	January 1– June 30, 2014	Change
EPRA earnings per share (EUR)3)	0.19	0.31	–38.7
EPRA cost ratio A (%)4)	27.1	22.1	5.0 pp
EPRA cost ratio B (%)5)	22.4	18.9	3.5 pp
	June 30, 2015	December 31, 2014	Change (%)
EPRA NAV per share (EUR)	11.05	11.22	–1.5
EPRA NNNAV per share (EUR)	10.60	10.58	0.2
EPRA net initial yield (%)	4.9	4.8	0.1 pp
EPRA 'topped–up' net initial yield (%)	5.1	5.0	0.1 pp
EPRA vacancy rate (%)	10.5	11.0	–0.5 pp

1) Dilution based on potential conversion of convertible bond.

2) For further information, please refer to EPRA Best Practices Recommendations, www.epra.com.

3) The decline in the EPRA–earnings is mainly due to extraordinary effects in connection with the preparations for the implementation of a transaction. (Please refer to section 'Other operating result' on page 7.)

4) Including vacancy costs.

5) Excluding vacancy costs.

1 Consolidated interim management report

PORTFOLIO OVERVIEW

Key metrics	June 30, 2015	December 31, 2014	Key metrics of the portfolio
Number of properties	74	74
Number of joint venture properties	1	1
Market value (EUR bn)1)	1.7	1.7
Annual contractual rent (EUR m)	100.1	99.7
Valuation yield (contractual rent/ market value)	6.0	6.0
Lettable area (sqm)	873,000	875,100
Vacancy (% of lettable area)2)	12.4	12.6
WAULT (years)	6.6	6.8
Average rent/sqm (EUR/month)	10.9	10.9

1) Incl. fair value of owner-occupied properties.

2) Contractual vacancy rate includes vacancies in assets of the Company's development pipeline.

For a detailed description of alstria's portfolio, please refer to the Company Report 2014.

Letting metrics	Jan. 1 – June 30, 2015	Jan. 1 – June 30, 2014	Change (sqm)	Real Estate Operations
New leases (in sqm)1)	22,200	21,700	500
Renewals of leases (in sqm)	12,100	25,400	–13,300
Total	34,300	47,100	–12,800

1) New leases refer to letting vacant space. It does not account for any lease renewals, prolongations or a tenant's exercise of its renewal option.

Vacancy metrics	June 30, 2015	Dec. 31, 2014	Change
Vacancy rate (%)	12.4	12.6	–0.2 pp
EPRA vacancy rate (%)	10.5	11.0	–0.5 pp
Vacancy (sqm)	108,400	110,400	–2,000
thereof vacancy in development projects (sqm)	24,200	19,600	4,600

In H1 2015 the rental result amounted to approximately 34,000 sqm (measured by new lettings as well as re-lettings).

A significant letting success was the initial lease to a new tenant in Berlin, Darwinstraße. The tenant signed an 11-year-lease for approximately 4,800 sqm of office and ancillary space. The lease will commence on December 1, 2015.

Furthermore, alstria contracted a new tenant for an asset in Hofmannstraße, Berlin, for approximately 1,700 sqm of office and ancillary space. The lease commenced on June 1, 2015.

Additional leases with approximately 2,500 sqm were signed with two tenants in Bamler-Service Park in Essen. Both leases commenced already on June 1, 2015 and will not expire before the end of 2020.

The core of alstria's investment portfolio is concentrated in the following regions. Tenants and regions

Another main characteristic of alstria's portfolio is that it focusses on a small number of major tenants.

% of market value	June 30, 2015	Dec. 31, 2014	Change (pp)
Hamburg	42	42	0
Rhine-Ruhr	17	18	–1
Stuttgart	17	17	0
Rhine-Main	7	7	0
Munich	4	4	0
Hanover	3	3	0
Berlin	2	2	0
Saxony	2	2	0
Others	5	5	0

as a %-age of annual rent	June 30, 2015	Dec. 31, 2014	Change (pp)
City of Hamburg	29	29	0
Daimler AG	16	16	0
Bilfinger SE	6	6	0
Barmer GEK	3	3	0
Württembergische Lebensversicherungs AG	3	3	0
State of Baden-Württemberg	2	2	0
L'Oréal Deutschland GmbH	2	2	0
Siemens AG	2	2	0
HUK Coburg	1	1	0
ATOS Origin	1	0	1
Rheinmetall	0	2	–2
Others	35	34	1

In addition, the portfolio reflects alstria's clear focus on a particular asset class: 95%* of the total lettable area is office space.

* Office and storage space.

ALSTRIA'S MAIN TENANTS TOTAL PORTFOLIO BY REGIONS

alstria's investment decisions are based both on the analyses of local markets and the individual inspection of each asset. The latter is focussed on location, size and quality as compared to assets belonging to direct competitors and the long-term potential for value growth. alstria's strategy is aimed at increasing its portfolio to a critical size at every respective location and to at the same time retract from those markets, which do not adhere to alstria's core investment focus. Following this strategy alstria sold two assets in Munich with a total lettable size of 13,000 sqm in the first half of 2015. Furthermore, a sale and purchase agreement for the disposal of an asset in Frankfurt/ Main as well as a sale and purchase agreement for the acquisition of an asset in Düsseldorf have been signed after the reporting date. Transactions

alstria performed the following transactions in 2015:

Asset	City	Sales price (EUR k)1)	Annual rent (EUR k)2)	Ø Avg. Lease length (years)2)	Signing SPA	Transfer of benefits and burdens
Disposals
Siemensstr. 31–33 (Disposal of part of the plot)	Ditzingen	1,044	–	–	Mar. 03, 2015	May 11, 2015
Arnulfstr. 1503)	Munich	16,500	–	–		June 18, 2015 Dec. 31, 20154)
Landshuter Allee 1743)	Munich	14,000	72	2.5		June 11, 2015 May 31, 20164)
Emil-von-Behring Str. 23)	Frankfurt am Main	12,800	998	5.1		July 09, 2015 Dec. 31, 20154)
Total		44,344	1,070
Acquisitions
Karlstr. 123–127	Düsseldorf	11,576	743	8.3	July 01, 2015	Q3 2015
Total		11,576	743

1) Excluding transaction costs.

2) At the time of transfer of benefits and burdens.

3) Balance sheet as reported under assets held for sale.

4) Expected.

EARNINGS POSITIONS

Revenues	Revenues amounted to EUR 48,324 k in the first half of 2015 and, as expected, decreased as compared to the respective prior year period (H1 2014: EUR 51,472 k). This development was mainly caused by the expiry of leases concerning assets in Darwinstraße, Berlin and Hofmannstraße, Munich. As a result net rental income declined by EUR 2,229 k to EUR 43,319 k.
Real estate operating expenses	Real estate operating expenses amounted to EUR 4,987 k during the reporting period (H1 2014: EUR 5,874 k). The expense ratio decreased from 11.4% in H1 2014 to 10.3% in H1 2015. This was mainly due to a fire-protection measure regarding an asset located in Hamburg, which was carried out in 2014.
Administrative and personnel expenses	Administrative expenses increased by EUR 402 k to EUR 2,968 k (H1 2014: EUR 2,566 k). The development is mainly based on a consulting project, which was conducted during the reporting period.
	Personnel expenses increased by EUR 2,177 k to EUR 5,925 k as compared to the prior six months due to the remuneration for vir tual shares which increased by EUR 2,100 k from EUR 264 k to EUR 2,364 k. The reason for this increase was the significantly posi tive development of the stock price of alstria office REIT-AG's shares in the first half of 2015.
Other operating result	The other operating result amounted to EUR –2,190 k in the first half of 2015 (H1 2014: EUR 2,007 k). Other operating income of the previous six-month period was mainly driven by a one-time compen sation payment in conjunction with the expiry of a lease.
	However, in the current reporting period alstria received only fewer compensation payments. Furthermore, on June 16, 2015, the Management Board announced its intention to submit a take-over bid for another stock exchange listed company. The preparation of this take-over offer incurred significant legal and consulting costs of EUR 3,203 k.

Due to a further decreasing interest rate level and a lower average amount of outstanding loans alstria's net financial result improved by EUR 1,665 k from EUR –17,763 k to EUR –16,098 k as compared to the first half of 2014. Financial results

EUR k	January 1 – June 30, 2015	January 1 – June 30, 2014	Change (%)
Interest expense syndicated loan	–4,183	–5,294	–21.0
Interest expense other loans	–4,178	–4,717	–11.4
Interest result derivatives	–5,632	–5,299	6.3
Interest expenses convertible bond	–2,127	–2,424	–12.3
Financial expenses	–16,120	–17,734	–9.1
Financial income	43	73	–41.1
Other financial expenses	–21	–102	–79.4
Net financial result	–16,098	–17,763	–9.4

The valuation of financial derivatives resulted in a net loss from fair value adjustments in an amount of EUR –2,819 k in the period from January 1 to June 30, 2015 (please refer to page 12 for further details). An amount of EUR 9,349 of this valuation loss is attributable to the derivative embedded in the convertible bond. The reason for this is the strong development of alstria's share price, which increases the market value of the potential repayment obligation in the case the convertible bond is converted. This is reflected in the negative fair value of the embedded derivative.

Due to the upcoming termination of an interest rate swap of a nominal value of EUR 380,870 k the negative fair value of the interest rate swap decreased. In addition the slight increase in the yield curve as compared to the end of the business year 2014 resulted in a valuation gain from interest rate derivatives. Overall, the valuation of derivative financial instruments resulted a net loss of EUR –2,819.

Valuation result of financial derivatives

Funds from operations (FFO) EUR k

	January 1 – June 30, 2015	January 1 – June 30, 2014
Pre-tax income (EBT)	15,068	6,8521)
Net profit / loss from fair value adjust ments on investment property	–120	–
Net profit / loss from fair value adjust ments on financial derivatives	2,819	17,572
Profit / loss from the disposal of investment property	–1,674	–179
Other adjustments2)	6,481	95
Fair value changes and other adjust ments in joint ventures	600	115
Funds from operations (FFO)3)	23,174	24,455
Maintenance and re-letting activities	–7,716	–5,112
Adjusted funds from operations (AFFO)4)	15,458	19,343
Number of shares on the reporting date (k)	87,097	79,018
FFO per share (EUR k)	0.27	0.31

1) The first time adoption of IFRIC 21 during the reporting period and its retrospective application resulted in earnings before income taxes of EUR 6,567 k for the period January 1 to June 30, 2014. For the determination of FFO the retrospective adjustment was taken into account for continuity and materiality reasons.

• 2) Non-cash income or expenses and non-recurring effects. The main effect in first quarter of 2015 was the increase in legal and consulting expenses by an amount of EUR 3.203 k, which were incurred in connection with the preparation of a takeover offer of another public company as well as EUR 1.728 k for the non-cash expenses for share based remuneration.
• 3) (A)FFO is not a measure of operating performance or liquidity under generally accepted accounting principles, in particular IFRS, and should not be considered as an alternative to the Company's income or cash flow measures as determined in accordance with IFRS. Furthermore, there is no standard definition for (A)FFO. Thus, (A)FFO or measures with similar names as presented by other companies may not necessarily be comparable to alstria's (A)FFO.
• 4) The AFFO is equal to FFO with adjustments made for capitalised capital expenditures and investments, which are made to maintain the quality of the underlying investment portfolio and expenses connected with concluding tenancy agreements.

alstria's consolidated net result amounted to EUR 15,060 k (H1 2014: EUR 6,560 k) in the period under review. The increase mainly resulted from a lower valuation loss in financial derivatives, which amounted to EUR 2,819 k in the first half of 2015 ascompared to EUR 17,572 k in the first half of 2014. However, a decline in revenues as well as the other operating result and an increase in both personnel and administrative expenses had a counter-effect on this result. Undiluted Earnings per share amounted to EUR 0.18 in the first six months of 2015 (H1 2014: EUR 0.08 per share). Consolidated net result

FINANCIAL AND ASSET POSITION

	EUR k	Investment
Investment properties as at Dec. 31, 2014	1,645,840	properties
Investments	11,216
Acquisitions	0
Disposals	–1,000
Reclassifications	–41,325
Net loss/gain from fair value adjustments on investment property	120
Investment properties as at June 30, 2015	1,614,851
Carrying amount of owner-occupied properties	4,491
Fair value of properties held for sale	43,080
Interests in joint ventures	34,486
Carrying amount of immovable assets	1,696,908
Adjustments to fair value of owner-occupied properties	1,253
Fair value of immovable assets	1,698,161

alstria office REIT-AG applies the fair value model pursuant to IFRS 13 for revaluation purposes. External appraisals were obtained to determine the respective values as at June 30, 2015, which were provided by the independent assessor Colliers International Valuation UK LLP. The valuation of investment properties resulted in an appreciation of EUR 120 k. For a detailed description of the determination process of the asset value, please refer to section 7 of the consolidated financial statements as at December 31, 2014.

The fair value of properties held for sale of an amount of EUR 43,080 k refers to the sale of three properties sold until July 2015. Transfers of benefits and burdens are expected to take place towards the end of 2015 and in 2016 (for further information, please refer to section 'Transactions' on page 6).

For a detailed description of the investment properties, please refer to the Annual Report of 2014.

As at June 30, 2015 the loan agreements in place and the respective amounts drawn are as follows: Financial liabilities

Liabilities	Maturity	Principal amount drawn as at June 30, 2015 (EUR k)	LTV as at June 30, 2015 (%)	LTV covenant (%)	Principal amount drawn as at Dec. 31, 2014 (EUR k)
Syndicated loan	Sep. 30, 2020	501,070	48.6	70.0	501,070
Non-recourse loan #1	Jan. 31, 2017	66,846	58.6	75.0	68,260
Loan #2	Sep. 30, 2019	67,000	44,9	65.0	67,000
Loan #3	Apr. 30, 2021	60,278	52.4	66.0	60,739
Loan #4	Mar. 28, 2024	60,000	50.7	75.0	60,000
Loan #5	Dec. 17, 2018	56,000	46.7	60.0	56,000
Non-recourse loan #61) Dec. 31, 2014		–	–	–	2,617
Total loans		811,194	49.2	–	815,686
Convertible bond	June 14, 2018	79,200	–	–	79,400
Total		890,394	53.5	–	895,086

1) Loan agreement terminated taking effect on December 31, 2014, withdrawel did not occur before January 2, 2015.

	June 30, 2015	Dec. 31, 2014
Average term to maturity of loans/
convertible bond (years)	4.8	5.3

MATURITY PROFILE OF FINANCIAL DEBT1)

in EUR m, as at June 30, 2015

1) Excluding regular amortisation.

	January 1 – June 30, 2015	January 1 – June 30, 2014
Average cost of debt (% p. a.)	3.3	3.5

As at June 30, 2015 alstria was not in breach of any of its financial covenants.

For a detailed description of alstria's financial management, please refer to the Annual Report of 2014.

			December 31, 2014
Notional (EUR k)	Fair value (EUR k)	Notional (EUR k)	Fair value (EUR k)
340,000	525	340,000	402
50,250	81	50,250	49
47,902	0	47,902	0
380,870	–652	380,870	– 6,198
819,022	–46	819,022	– 5,747
380,870	8,417	380,870	5,874
48,223	202	48,591	147
10,900	153	10,900	140
56,000	56	56,000	31
11,069	0	11,155	0
126,1922)	8,828	126,6462)	6,192
945,214	8,782	945,668	445
8,2413)	–22,837	8,0923)	– 13,488
	–14,055		– 13,043
Maturity date Dec. 31, 2017 3.0000 Sept. 30, 2019 Oct. 20, 2015 July 20, 2015 0.0000 Sept. 30, 2020 Apr. 30, 2021 Mar. 29, 2024 Dec. 17, 2018 Dec. 31, 2015 June 14, 2018		June 30, 2015

alstria held the following derivative financial instruments at the end of the reporting period: Derivatives

1) Not effective prior to July 20, 2015.

2) Notional value excluding an amount of EUR 380,870 k not effective prior to July 20, 2015.

3) Underlying number of shares subject to conversion in thousand.

The value changes of the financial derivatives are reflected in various balance sheet items. The following table shows the change in their value since December 31, 2014.

		Financial assets	Financial liabilities
EUR k	Cash flow hedge reserve	Non-current	Non-current	Current	Total
Hedging instruments as at January 1, 2015	–3,095	6,643	–13,488	–6,198	–13,043
Ineffective change in fair values of cash flow hedges	0	2,637	0	5,546	8,183
Net result from fair value changes in financial derivatives not qua lifying for cash flow hedging	0	156	–9,411	0	–9,255
Reclassification of cumulated loss from equity to income statement	1,747	0	0	0	0
Changes in accrued interest due to financial derivatives	0	0	–3	0	–3
Terminations	0	0	63	0	63
Hedging instruments as at June 30, 2015	–1,348	9,436	–22,839	–652	–14,055

Overall, ineffective value gains (EUR 8,183 k), losses on hedges not qualified for cash flow hedging (EUR –9,255 k) and reclassifications of an amount of EUR 1,747 k, resulted in a total loss of EUR 2,819 k (H1 2014: loss of EUR 17,572 k). It is presented as the net result from fair value adjustments on financial derivatives. The reclassification amount of EUR 1,747 k relates to the cumulated losses from cash flow hedges for which the initially hedged transaction is no longer expected to occur due to a premature repayment of the loans in question.

For a detailed description of the hedging instruments, please refer to the appendix of the consolidated financial report as at December 31, 2014.

Cash and cash equivalents increased from EUR 63,145 k to EUR 123,083 k in the reporting period. The increase primarily resulted from the capital increase carried out during the first quarter, leading to a cash inflow of EUR 101,542 k after having deducted paid placement costs of EUR 1,339. The payment of the dividend resulted in a cash outflow of EUR 43,470 k. Investing activities resulted in net cash outflows of EUR 9,367 k, whereas a positive cash flow of EUR 15,926 k was generated from operating activities. Cash position

Equity metrics

	June 30, 2015	Dec. 31, 2014	Change
Equity (EUR k)	922,238	846,593	8.9%
Number of shares (k)	87,097	79,018	8,079
NAV per share (EUR)	10.59	10.71	–1.1%
Equity ratio (%)	49.9	47.8	2.1 pp
G-REIT equity ratio (%)1)	54.3	50.2	4.1 pp

1) Is defined as total equity divided by the carrying amount of immovable assets. Minimum requirement according to G-REIT regulation: 45%.

The increase in equity on the balance sheet date by EUR 75,645 k to EUR 922,238 k is mainly based on a placement of 7,901,847 new nopar bearer shares in March 2015. Due to this capital increase equity increased by EUR 101,386 k. Furthermore, the profit of the period resulted in an equity increase of EUR 15,060 k. This development was partially offset by the dividend payment of EUR 43,470 k in May 2015. (For further information please refer to the consolidated statement of changes in equity and the corresponding notes).

RISK AND OPPORTUNITY REPORT

The risks and opportunities to which alstria is exposed are described in detail in alstria's Annual Report 2014.

On June 16, 2015 alstria's Management Board announced its intention to acquire the shares of DO Deutsche Office AG by means of a share swap for new alstria shares. The required capital increase in kind was approved by majority vote of the Extraordinary General Meeting held on July 23, 2015. The intended implementation of the takeover of DO Deutsche Office AG results in both opportunities and risks. Opportunities are essentially a sustainable realization of anticipated synergies and economies of scope that alstria office REIT-AG expects to realize. This assessment is based on plans and estimates based on publicly available information on the DO Deutsche Office AG and on alstria office REIT-AG's own reflections at this stage. These plans and estimates may prove to be incorrect, if the underlying assumptions prove to be incorrect or incomplete. In particular DO Deutsche Office AG's integration could not proceed as planned or result in higher costs than antici-pated. In addition, the acquisition of control of the DO Deutsche Office AG could trigger change-ofcontrol clauses in contracts of DO Deutsche Office AG, in particular concerning its financing agreements. However, for this case, alstria office REIT-AG has signed an agreement to provide a bridge loan in a volume of up to approximately EUR 1.1 billion with UBS Germany AG and UniCredit Bank AG. In matters of taxation, the planned estimates and assumptions could prove to be incorrect in terms of the acquisition-related real estate transfer tax as well as in terms of payable income taxes, which may become applicable in the course of the inclusion of the DO Deutsche Office Group under the REIT regime. All of the former could result in the actual expenses being higher than anticipated. In the event that the takeover, e.g., due to a shortfall of the minimum acceptance level by the share-holders of the target company does not materialize, the legal and consulting costs incurred for the preparation of the capital increase and the takeover would nevertheless be borne by the Company.

Further changes to the risk situation compared to the risk situation described in the consolidated financial statements in 2014 were not recorded in the reporting period.

RECENT DEVELOPMENTS AND FINANCIAL TARGETS

In July 2015 alstria signed a sale and purchase agreement for the disposal of an asset in Frankfurt/Main. The transfer of benefits and burdens is expected to take place at the end of 2015. Therefore, the asset is classified as 'asset held for sale' as at June 30, 2015.

Recent developments Additionally, in July 2015, alstria signed a sale and purchase agreement for the acquisition of an asset in Düsseldorf. The transfer of benefits and burdens is expected to take place in the third quarter of 2015. No significant impact is expected on the FFO forecast 2015.

Furthermore, the Management Board on June 16, 2015 announced its intention to offer the shareholders of another listed company to acquire their shares in the Company by way of a voluntary public takeover offer. In this regard, an Extraordinary General Meeting was held in Hamburg on July 23, 2015. Among other items, the Extraordinary General Meeting voted on the increase of the share capital of alstria required for implementing the transaction of up to EUR 68,781,791 by issuing up to 68,781,791 no-par value bearer shares each representing a pro rata interest of EUR 1.00 in the share capital against contribution in kind with the exclusion of the statutory subscription rights of the shareholders. The resolution proposal was approved. Please see www.alstria.com for more details and the relevant voting results.

alstria mainly focuses on the following financial performance indicators: Revenues and FFO. Financial Target

Revenues includes mostly rental income, which is in line with the letting activities of the company. FFO reflects the operational result from real estate management without consideration of effects from valuation as well as other non-cash expenses/income and as non-recurring effects.*

Neither forcasts nor any other statements presented in the annual statement of 2014 regarding the prospective development of the company for financial year 2015 have changed substantially. Based on the executed transactions and the contractual agreed rental income alstria still expects revenues of an amount of approximately EUR 98 m and an operating result of EUR 49 m. The increase compared to FFO in 2014 (approx. EUR 48 m) mainly results from the financing/hedging structure, which results in lower financing costs. The intended takeover does – for the time being – not result in an update to the forecast of FFO and revenues for the financial year 2015, as at present, both, the final implementation of the acquisition and the exact time of the initial consolidation of the new companies cannot be determined with sufficient precision.

The management report contains statements relating to anticipated future developments. These statements are based on current assessments and are, by their very nature, exposed to risks and uncertainty. Actual developments may differ from those predicted in these statements. Disclaimer

* Please refer to section 'Funds from operations (FFO)' on page 9.

2 Consolidated financial statements

CONSOLIDATED INCOME STATEMENT

FOR THE PERIOD FROM JANUARY 1 TO JUNE 30, 2015

EUR k	Notes	April 1 – June 30, 2015	April 1 – June 30, 20141)	Jan. 1 – June 30, 2015	Jan. 1 – June 30, 20141)
Revenues		24,252	25,538	48,324	51,472
Income less expenses from passed on operating
expenses		47	–40	–18	–50
Real estate operating costs		–2,905	–3,438	–4,987	–5,874
Net Rental Income		21,394	22,060	43,319	45,548
Administrative expenses		–1,902	–1,336	–2,968	–2,566
Personnel expenses	6.1	–2,762	–1,689	–5,925	–3,748
Other operating income		696	86	1,665	2,267
Other operating expenses	6.2	–3,571	–251	–3,855	–260
Net gain/loss from fair value adjustments on investment
property		120	0	120	0
Gain/loss on disposal of investment property	7.1	1,674	–4	1,674	179
Net Operating Result		15,649	18,866	34,030	41,420
Net financial result	6.3	–7,848	–8,744	–16,098	–17,763
Share of the result of joint venture		164	29	–45	482
Net loss from fair value adjustments on financial derivatives		17,631	–7,614	–2,819	–17,572
Pre-Tax Income (EBT)		25,596	2,537	15,068	6,567
Income tax expense	6.4	–5	7	–8	–7
Consolidated loss/profit for the period		25,591	2,544	15,060	6,560
Attributable to:
Shareholders		25,591	2,544	15,060	6,560
Earnings per share in EUR
Basic earnings per share	6.5	0.29	0.03	0.18	0.08
Diluted earnings per share	6.5	0.27	0.04	0.18	0.09

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD FROM JANUARY 1 TO JUNE 30, 2015

EUR k	April 1 – Notes June 30, 2015	April 1 – June 30, 20141)	Jan. 1 – June 30, 2015	Jan. 1 – June 30, 20141)
Consolidated loss/profit for the period	25,591	2,544	15,060	6,560
Items which might be reclas sified to the income state ment in a future period:
Cash flow hedges	0	0	0	99
Reclassification from Cashflow Hedging Reserve	878	878	1,747	2,359
Other comprehensive result for the period:	878	878	1,747	2,458
Total comprehensive result for the period:	26,469	3,422	16,807	9,018

1) Due to the initial and the retrospective application of IFRIC 21, the comparative figures of the prior year's periods April 1 to June 30, 2014.

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT JUNE 30, 2015

Assets

EUR k	Notes	June 30, 2015	December 31, 2014
Non-Current Assets
Investment property	7.1	1,614,851	1,645,840
Equity-accounted investments		34,486	34,534
Property, plant and equipment		5,012	5,085
Intangible assets		292	344
Derivatives	8.3	9,436	6,643
Total Non-Current Assets		1,664,077	1,692,446
Current Assets
Assets held for sale	7.1	43,080	0
Trade receivables		6,464	3,498
Accounts receivable from joint ventures		0	88
Other receivables	7.2	10,522	10,127
Cash and cash equivalents		123,083	63,145
thereof restricted		0	0
Total current assets		183,149	76,858
Total assets		1,847,226	1,769,304

EUR k	Notes	June 30, 2015	December 31, 2014
Equity	8.1
Share capital		87,097	79,018
Capital surplus		742,452	691,693
Hedging reserve		–1,348	– 3,095
Retained earnings		94,037	78,977
Total Equity		922,238	846,593
Non-current liabilities
Long-term loans, net of curent portion	8.2	873,889	874,025
Derivatives	8.3	22,839	13,488
Other provisions		3,987	3,628
Other liabilities		1,962	2,036
Total Non-Current Liabilities		902,677	893,177
Current Liabilities
Short-term loans	8.2	3,013	7,702
Trade payables		4,538	4,389
Profit participation rights	12	375	424
Derivatives	8.3	652	6,198
Other provisions		1,632	461
Other current liabilities		12,101	10,360
Total Current Liabilities		22,311	29,534
Total Liabilities		924,988	922,711
Total equity and liabilities		1,847,226	1,769,304

Equity and liabilities

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE PERIOD FROM JANUARY 1 TO JUNE 30, 2015

EUR k	Notes	January 1 – June 30, 2015	January 1 – June 30, 2014 1)
1. Operating activities
Consolidated profit/loss for the period		15,060	6,560
Unrealized valuation movements		2,698	17,189
Interest income	6.3	–43	–73
Interest expense	6.3	16,142	17,836
Result from income taxes		8	7
Other non-cash expenses (+)		2,676	–464
Gain (–)/Loss (+) on disposal of fixed assets		–1,674	–179
Depreciation and impairment of fixed assets (+)		198	208
Decrease (+)/Increase (–) in trade receivables and other assets that are not attributed to investing or financing activities		–3,786	–1,707
Decrease (–)/increase (+) in trade payables and other liabilities that are not attributed to investing or financing activities		1,196	754
Cash generated from operations		32,475	40,130
Interest received		43	73
Interest paid		–16,584	–15,993
Income tax paid		–8	–7
Net cash generated from operating activities		15,926	24,203
2. Investing activities
Acquisition of investment properties	7.1	–11,341	–16,536
Proceeds from sale of investment properties		2,044	9,450
Payment of transaction cost in relation to the sale of investment properties		0	–121
Acquisition of other property, plant and equipment		–73	–219
Proceeds from the equity release of interests in joint ventures		3	0
Net cash used in investing activities		–9,367	–7,425
3. Financing activities
Cash received from equity contributions	8.1	102,881	170
Payment of transaction costs of issue of shares	8.1	–1,339	0
Proceeds from the issue of bonds and borrowings		0	42,030
Proceeds from the issue of a convertible bond		0	79,400
Payments of dividends		–43,470	–39,467
Payments for the acquisition/termination of financial derivatives		0	–2,007
Payments of the redemption of bonds and borrowings		–4,693	–129,010
Payments of transaction costs		0	–740
Net cash generated from / used in financing activities		53,379	–49,624
4. Cash and cash equivalents at the end of the period
Change in cash and cash equivalents (subtotal of 1 to 3)		59,939	–32,846
Cash and cash equivalents at the beginning of the period		63,145	82,782
Cash and cash equivalents at the end of the period thereof restricted: EUR 0 k; previous year: EUR 251 k	7.2	123,083	49,936
5. Composition of cash and cash equivalents
Cash		123,083	49,936

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD FROM JANUARY 1 TO JUNE 30, 2015

EUR k	Notes	Share capital	Capital surplus	Hedging reserve	Retained earnings	Total Equity
As at January 1, 2015		79,018	691,693	– 3,095	78,977	846,593
Changes in H1 2015
Consolidated profit		0	0	0	15,060	15,060
Other comprehensive income		0	0	1,747	0	1,747
Total comprehensive income		0	0	1,747	15,060	16,807
Payments of dividends	9	0	–43,470	0	0	–43,470
Share-based remuneration	12	0	347	0	0	347
Proceeds from shares issued	8.1	7,903	94,822	0	0	102,725
Transaction costs of issue of shares	8.1	0	–1,339	0	0	–1,339
Conversion of convertible participation rights		156	156	0	0	312
Conversion of convertible bond	8.1	20	243	0	0	263
As of June 30, 2015	8.1	87,097	742,452	–1,348	94,037	922,238

FOR THE PERIOD FROM JANUARY 1 TO JUNE 30, 20141)

As at January 1, 2014		78,933	730,486	–7,329	42,024	844,114
Changes in H1 2014
Consolidated profit		0	0	0	6,560	6,560
Other comprehensive income		0	0	2,458	0	2,458
Total comprehensive income		0	0	2,458	6,560	9,018
Changes in the consolidated group
Payments of dividends	9	0	–39,467	0	0	–39,467
Share-based remuneration	12	0	272	0	0	272
Conversion of convertible participation rights		85	85	0	0	170
As of June 30, 2014	8.1	79,018	691,376	–4,871	48,584	814,107

1) Due to the initial and the retrospective application of IFRIC 21, the comparative figures of the prior year's period April 1 to June 30, 2015

Notes to the condensed interim consolidated financial statements

as at June 30, 2015

1 CORPORATE INFORMATION

alstria office REIT-AG, Hamburg, (hereinafter referred to as the 'Company' or 'alstria office REIT-AG' and, together with its subsidiaries, as 'alstria' or the 'Group'), is a German stock corporation based in Hamburg. The Group's principal activities are described in detail in section 1 of the Notes to the consolidated financial statements for the financial year ending on December 31, 2014.

The condensed interim consolidated financial statements for the period from January 1, 2015 to June 30, 2015 (hereinafter referred to as the 'consolidated interim financial statements') were authorised for publication by resolution of the Company's Management Board on August 3, 2015.

2 BASIS OF PREPARATION

These consolidated interim financial statements were prepared in accordance with IAS 34 'Interim Financial Reporting'. They do not contain all of the disclosures and explanations required in the annual financial statements and should therefore be read in conjunction with the consolidated financial statements as at December 31, 2014.

These condensed interim consolidated financial statements have not been audited. They have been reviewed by Deloitte & Touche GmbH Wirtschaftsprüfungsgesellschaft, Hamburg.

3 SIGNIFICANT ACCOUNTING POLICIES

The applied accounting policies are consistent with the policies applied in the Group's annual financial statements for the year ending on December 31, 2014, and as outlined in those annual financial statements.

The following new interpretations and amendments to standards and interpretations are mandatory for the first time for the financial reporting period beginning on January 1, 2015:

EU-Endorsement	Standards / Interpretation	Content	Applicable for f/y beginning on/after	Effects
June 13, 2014	IFRIC 21	New interpretation 'taxes	June 17, 2014	Interim Reporting
Dec. 18, 2014	Annual Im provements to IFRSs	Improvements to IFRSs 2011–2013 January 1,	2015	None

The initial application of IFRIC 21 'levies' mainly resulted in changes in the accounting for trade receivables and other liabilities. Accordingly, trade receivables contain land taxes that can be passed on in the amount of EUR 1,756 k. Trade payables are reduced by EUR 374 k. The other current liabilities report the yet unpaid land taxes attributable to 2015 in the amountr of EUR 2,537 k. The balance of EUR 407 k is vacancy costs reported under the real estate operating costs. The retrospective application of IFRIC 21 results in an increase in real estate operating costs of EUR 285 k for the first half of 2014.

The following new standards, interpretations and amendments to published standards have been issued but are not effective for the financial year 2015 and have not been applied by the Group prior to becoming mandatory:

EU Endorsement	Standards / Interpre tationen	Content	Applicable for f/y beginning on/after	Effects
not yet endorsed	IFRS 9	New Standard 'Financial instruments: classification and measurement'	Jan. 1, 2018	No material effects
not yet endorsed	IFRS 14	New Standard 'Regulatory deferral accounts'	Jan. 1, 2016	None
not yet endorsed	IFRS 15	New Standard 'Revenue from contracts with customers'	Jan. 1, 2017	Notes disclosure
not yet endorsed	Amendments to IFRS 11	Accounting for Acquisitions of Interests in Joint Operations	Jan. 1, 2016	None
not yet endorsed	Amendments to IFRS 10 and IAS 28	Sale or contribution of assets between an investor and its associate or joint venture	Jan. 1, 2016	Under review
not yet endorsed	Amendments to IFRS 10, IFRS 12 and IAS 28	Investment entities: applying the consoli dation exception	Jan. 1, 2016	None
not yet endorsed	Amendments to IAS 1	Disclosure initiative	Jan. 1, 2016	Notes disclosure
not yet endorsed	Amendments to IAS 16 and IAS 38	Clarification of acceptable methods of depreciation	Jan. 1, 2016	None
not yet endorsed	Amendments to IAS 16 and IAS 41	Agriculture: bearer plants	Jan. 1, 2016	None
	Dec. 17, 2014 Amendments to IAS 19	Defined benefit plans: employee contributions (Amendments to IAS 19 'Employee Benefits')	Feb. 1, 2015	None

EU Endorsement	Standards / Interpre tationen	Content	Applicable for f/y beginning on/after	Effects
not yet endorsed	Amendments to IAS 27	Equity method in separate financial statements	Jan. 1, 2016	None
Dec. 17, 2014 Annual	Improvements to IFRSs	Improvements to IFRSs 2010–2012	Feb. 1, 2015	None
not yet endorsed	Annual Improvements to IFRSs	Improvements to IFRSs 2012–2014	Jan. 1, 2016	Under review

The IASB did not issue any new standards and Interpretations and amendments to published standards and interpretations between December 31, 2014 and the date of preparation of these interim consolidated financial statements.

4 CONSOLIDATED GROUP

There have been no changes to the consolidated Group since the preparation of the consolidated financial statements as at December 31, 2014.

5 KEY JUDGEMENTS AND ESTIMATES

Preparing the consolidated financial statements in accordance with IFRS requires assumptions and estimates to be made for various items that have an effect on the amount of and the disclosures concerning assets, liabilities, income and expenses. Actual amounts may vary from these estimates.

6 NOTES TO THE CONSOLIDATED INCOME STATEMENT

EUR k	January 1 – June 30, 2015 (unaudited)	January 1 – June 30, 2014 (unaudited)	6.1 Personnel expenses
Salaries and wages	1,985	1,966
Social insurance contribution	355	336
Bonuses	623	624
Expenses for share-based compensation	2,810	651
thereof relating to virtual shares	2,364	264
thereof relating to the convertible profit participation certificates	446	387
Amounts for retirement provisions and disability insurance of the mem bers of the Management Board	100	105
Other	52	66
Total	5,925	3,748

	The increase in personnel expenses resulted from the remuneration due to virtual shares that increased by EUR 2,100 k from EUR 264 k to EUR 2,364 k as compared to the first six month in 2014. The reason for this increase is the significantly positive development of the stock price of alstria office REIT-AG's shares in the first half of 2015. Ex penses due to the share-based remuneration resulting from virtual shares are not paid out until their time of exercise at each end of the term, respectively. The actual cash amount of such remuneration therefore depends on the further development of the share price. Personal expenses increased by EUR 77 k adjusted for share-based compensation.
6.2 Other opera ting expenses	On June 16, 2015, the Board announced its intention to submit a takeover-bid for a listed company. The preparation for the implemen tation of the proposed acquisition, resulted in legal and consulting expenses of EUR 4,212 k. EUR 3,203 k of these expenses are included in other operating expenses and make up the main part of the in crease in other operating expenses by EUR 3.595 k from EUR 260 k in the first half of 2014 to EUR 3.855 k in the first half of 2015.
	An amount of EUR 1,009 k representing the difference between EUR 4,212 k legal and consulting fees and the amount of EUR 3,203 k included in 'other operating expenses' is attributable to the imple mentation of the capital increase by way of contribution in kind. They are considered as assets stated under the item 'Receivables and other assets' as long as the implementation of the capital increase is pending. At the moment the capital increase is realised, they are recognized directly in equity in the capital reserve. They reduce the amount to be expensed through the capital increase in the capital reserve.
6.3 Financial result	For details on the net financial result and the development of the loans, please refer to the sections 'Financial result' and 'Financial and asset position' in the interim management report.
6.4 Income Taxes	As a consequence of its status as a G-REIT, alstria office REIT-AG is exempt from German corporation tax (Körperschaftsteuer – KSt) and German trade tax (Gewerbesteuer – GewSt).
	Minor tax payment obligations may arise on an affiliate level for affiliates serving as a general partner of a partnership or REIT service companies.

The tables below show the income and share data used in the earnings per share computations:

6.5 Earnings per share

Basic earnings per share	January 1 – June 30, 2015 (unaudited)	January 1 – June 30, 2014 (unaudited)
Profit attributable to the shareholders (EUR k)	15,060	6,560
Average number of shares outstan ding (thousands)	83,239	78,940
Basic earnings per share (EUR)	0.18	0,08

The potential conversion of shares inherent in the convertible bond could dilute basic earnings per share in the future:

Diluted earnings per share	January 1 – June 30, 2015 (unaudited)	January 1 – June 30, 2014 (unaudited)
Diluted profit attributable to the shareholders (EUR k)	16,140	7,636
Average diluted number of shares (thousands)	91,480	87,032
Diluted earnings per share (EUR)	0.18	0.09

7 NOTES TO THE CONSOLIDATED BALANCE SHEET – ASSETS

alstria office REIT-AG uses the fair value model pursuant to IFRS 13 for revaluation purposes. External appraisals were obtained to determine the respective values as at June 30, 2015. For a detailed description of the determination process of the asset value, please refer to section 7 of the consolidated financial statements as at December 31, 2014. A reconciliation of the properties held as investment properties since December 31, 2014, can be found on page 10 of the interim consolidated financial statements as at June 30, 2015.

In the second quarter of the year alstria office REIT-AG signed notary agreements on the sale of two investment properties. As at June 30, 2015 both properties are incorporated in 'assets held for sale'. A further investment property for which the the sales contract was signed early in July 2015 at a selling price of EUR 12,800 k is also reported in 'assets held for sale'.

In addition a plot of land forming part of an existing investment property was transferred to the buyer at a transaction price of EUR 1,044 k.

Cash and cash equivalents in an amount of EUR 123,083 k refer to cash at banks. The cash amount is not subject to any restrictions.

7.1 Investment property

7.2 Cash and cash equivalents

8 NOTES TO THE CONSOLIDATED BALANCE SHEET – EQUITY AND LIABILITIES

Please refer to the consolidated statement of changes in equity for details. 8.1 Equity

A total of 7,901,847 new shares were issued for cash considerations and increased alstria office REIT-AG's share capital by EUR 7,901,847. The capital increase was registered in the commercial register on March 26, 2015. Share capital

Two parts of a notional amount of EUR 200 k of the convertible bond were converted in the first quarter of 2015. The conversion resulted in an issue of 20,382 new shares by making use of the conditionally increased capital provided for such purposes (Conditional Capital 2013).

The conversion of profit participation rights (Note 12) in the second quarter of 2015 resulted in the issue of 156,000 new shares by making use of the conditionally increased capital provided for such purposes.

In total and due to the capital measures stated above, alstria office REIT-AG's share capital increased by EUR 8,078,229.00 to EUR 87,096,716.00 as compared to December 31, 2014. As at June 30, 2015 it is represented by 87,096,716 non-par value bearer shares.

The majority of the Company's shares are in free float.

The new shares generated from the capital increase were placed on the capital markets and sold at a price of EUR 13.00 per share. The issue proceeds exceeded the nominal share capital by EUR 94,822 k and were recognised in capital reserves. After having deducted placement costs of EUR 1,339 k caused by the share placements, the increase of the capital reserve amounted to a net EUR 93,483 k. Capital reserve

The share premium resulting from the partial conversion of the convertible bond amounted to EUR 243. It was also transferred to the capital reserve. The conversion of 156,000 profit participation rights resulted in an increase in the capital reserves of EUR 156 k

On June 30, 2015, the Company held no treasury shares. Treasury shares

This reserve includes the cumulated portion of the gain or loss on hedging instruments within the cash flow hedge that has been determined to be an effective hedge. The net change of EUR 1.747 k relates to reclassifications of cumulated devaluations of cash flow Cash flow hedging reserve

hedges, for which the forecasted and hedged transactions are no longer expected to occur due to a redemption of loans prior to their maturity.

As at June 30, 2015 alstria's total interest-bearing debt, which mainly consists of loan balances drawn and the convertible bond, amounted to EUR 890,394 k (December 31, 2014: EUR 895,086 k). The lower carrying amount of EUR 876,901 k (EUR 873,889 k non-current and EUR 3,013 k current) takes into account interest liabilities and transaction costs which are allocated according to the effective interest rate method at the time of taking out the loans in question. Financial liabilities with a maturity of up to one year are recognised as current loans.

After having exercised of the conversion rights for a notional value of EUR 200 k, an amount of EUR 79,200 k of the convertible bond remains included in the financial liabilities.

For a detailed description of the loans, loan terms and loan securities, please refer to the 'Financial liabilities' section in the interim Group management report for the first half of 2015 (see page 11) and Section 11.2 of the consolidated financial statements as at December 31, 2014.

Derivative financial instruments are comprised of interest swaps and caps. The purpose of these financial derivatives is to hedge the Group against interest rate risks arising from the Group's business activities and its sources of financing. In addition, they comprise an embedded derivative resulting from the issue of a convertible bond.

The fair value of the derivative financial instruments was determined by an independent expert by discounting the expected future cash flows at prevailing market interest rates.

For a more detailed description of the Group's derivative financial instruments and the presentation of their fair values please refer to page 8 and page 12 of the interim Group management report.

All of the Group's financial instruments, which are recognised in the balance sheet at fair value, are valued by applying the level 2-valuation approach. This, however, only applies to the Group's financial derivatives, as none of the other financial instruments are recognised in the balance sheet at fair value. The fair value determination of the Group's financial derivatives is based on forward interest rates, which are derived from observable yield curves.

8.2 Financial liabilities

8.3 Derivative financial instruments

9 DIVIDEND PAID

	2015	2014
Dividends on ordinary shares1) in EUR k (not recognised as a liability as at June 30)	43,470	39,467
Dividend per share (EUR)	0.50	0.50

1) Refers to all shares at the dividend payment date.

The alstria office REIT-AG's Annual General Meeting held on May 6, 2015 resolved to distribute dividends totalling EUR 43,470 k (EUR 0.50 per outstanding share). The dividend was distributed on May 7, 2015.

10 EMPLOYEES

In the period from January 1 to June 30, 2015, the Company on average employed 63 employees (January 1 to June 30, 2014: average of 62 people). The average number of employees was calculated based on the total number of employees at the end of each month. On June 30, 2015, 64 people (December 31, 2014: 63 people) were employed at alstria office REIT-AG, not including the Management Board.

11 SHARE-BASED REMUNERATION

A share-based remuneration system was implemented for members of the Management Board as part of alstria's success-based remuneration. The share-based remuneration is made up of a long-term component, the Long-Term Incentive Plan (LTI), and a short-term component, the Short-Term Incentive Plan (STI). The remuneration comprises both a cash-settled and a share-based component, respectively.

The development of the virtual shares until June 30, 2015 is shown in the following table:

		January 1 – December 31, 2014 (unaudited)
LTI	STI	LTI	STI
339,516	23,831	353,779	25,989
72,926	9,763	84,746	10,753
–76,702	–13,078	–99,009	–12,911
335,740	20,516	339,516	23,831
		January 1 – June 30, 2015 (unaudited)

In the first half of 2015, the LTI and the STI generated remuneration expenses of a total balance of EUR 2,364 k (H1 2014: expenses of EUR 264 k). In addition they resulted in provisions amounting to EUR 3,218 k at the end of the reporting period (December 31, 2014: EUR 1,490 k). 76,702 virtual shares from the LTI and 13,078 virtual shares from the STI were exercised in the first quarter of 2015, resulting in payments of EUR 636 k. The Group recognises liabilities arising from vested virtual shares as an item within other provisions. Please refer to section 18 of the consolidated financial statements as at December 31, 2014 for a detailed description of the employee profit participation rights programme.

12 CONVERTIBLE PROFIT PARTICIPATION RIGHTS PROGRAM

During the reporting period the following share-based payment agreements (certificates) were in place with respect to the convertible profit participation rights scheme as established by the Supervisory Board of alstria office REIT-AG.

Granting date of tranche	June 9, 2011	June 7, 2013	May 22, 2014	May 7, 2015	Total
January 1, 2015	59,500		96,800 107,250	0	263,550
Expired due to termina tion of employment	0	–300	–1,000	0	–1,300
Converted	–59,500 –96,500		0	0	–156,000
Newly granted certificates	0	0		0 121,000	121,000
June 30, 2015	0		0 106,250 121,000		227,250

Number of Certificates

For a detailed description of the employee profit participation rights programme, please refer to section 19 of the consolidated financial statements as at December 31, 2014.

13 RELATED PARTIES

No significant legal transactions were executed with respect to related parties during the reporting period, with the exception of granting virtual shares to the members of the Company's Management Board, as laid out in detail in note 11.

14 SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD

After the end of the reporting period, i.e. June 30, 2015 a notarial purchase agreement for the sale of a property was concluded at a transaction price of EUR 12,800. Furthermore, a notarial purchase agreement to acquire a property at a transaction price of EUR 11.576, was signed at the beginning of the third quarter of the year.

At the Extraordinary General Meeting held on July 23, 2015 the shareholders of the Company decided a capital increase of up to 68.781.791 nominal value bearer shares by way of contribution in kind acting by a qualified majority.

15 MANAGEMENT BOARD

As at June 30, 2015, the members of the Company's Management Board are:

Mr Olivier Elamine (Chief Executive Officer) Mr Alexander Dexne (Chief Financial Officer)

16 SUPERVISORY BOARD

Pursuant to section 9 of the Company's Articles of Association, the Supervisory Board consists of six members, all of whom are elected by the Annual General Meeting of the shareholders. The term of office for all members expires at the close of the Annual General Meeting of the shareholders in 2016.

As at June 30, 2015, the members of the Supervisory Board are:

Mr Alexander Stuhlmann (Chairman) Dr Johannes Conradi (Vice-Chairman) Mr Benoît Hérault Mr Roger Lee Mr Richard Mully Ms Marianne Voigt

Hamburg, Germany, August 3, 2015

Olivier Elamine Alexander Dexne

Chief Executive Officer Chief Financial Officer

3 Management compliance statement

'We confirm that, to the best of our knowledge, the consolidated financial statements give a true and fair view of the net assets, financial position and results of operations of the Group. Furthermore, we confirm that the group management report gives a true and fair view of business performance, including the results of operations and the economic position of the Group, and describes the main opportunities and risks and anticipated development of the Group in accordance with the applicable financial reporting framework.'

Hamburg, Germany, August 3, 2015

Olivier Elamine Chief Executive Officer

Alexander Dexne Chief Executive Officer

4 Review report

To the alstria office REIT-AG, Hamburg

We have reviewed the condensed interim consolidated financial statements of the alstria office REIT-AG, Hamburg, comprising the income statement, the balance sheet, statement of changes in equity, cash flow statement and selected explanatory notes, together with the interim group management report of the alstria office REIT-AG, Hamburg, for the period from January 1, 2015 to June 30, 2015, that are part of the semi annual financial report pursuant to Article 37w paragraph 2 WpHG [Wertpapierhandelsgesetz: German Securities Trading Act]. The preparation of the condensed interim consolidated financial statements in accordance with those IFRS applicable to interim financial reporting as adopted by the EU, and of the interim group management report in accordance with the requirements of the WpHG applicable to interim group management reports, is the responsibility of the company's management. Our responsibility is to issue a report on the condensed interim consolidated financial statements and on the interim group management report based on our review.

We conducted our review of the condensed interim consolidated financial statements and of the interim group management report in accordance with the German generally accepted standards for the review of financial statements promulgated by the Institut der Wirtschaftsprüfer [Institute of Public Auditors in Germany] (IDW). Those standards require that we plan and perform the review such that we can preclude through critical evaluation, with a certain level of assurance, that the condensed interim consolidated financial statements have not been prepared, in material respects, in accordance with those IFRS applicable to interim financial reporting as adopted by the EU, and that the interim group management report has not been prepared, in material respects, in accordance with the requirements of the WpHG applicable to interim group management reports. A review is limited primarily to inquiries of company employees and analytical assessments and therefore does not provide the assurance attainable in a financial statement audit. Since, in accordance with our engagement, we have not performed a financial statement audit, we cannot issue an auditor's report.

Based on our review no matters have come to our attention that cause us to presume that the condensed interim consolidated financial statements have not been prepared, in material respects, in accordance with those IFRS applicable to interim financial reporting as adopted by the EU, or that the interim group management report has not been prepared, in material respects, in accordance with the requirements of the WpHG applicable to interim group management reports.

Hamburg, August 3, 2015

Deloitte & Touche GmbH Wirtschaftsprüfungsgesellschaft

Signed Reiher Signed Blumhagen Wirtschaftsprüfer Wirtschaftsprüferin [German Public Auditor] [German Public Auditor]

5 alstria's share

SHARE PRICE DEVELOPMENT

KEY SHARE DATA

ISIN	DE000A0LD2U1
Symbol	AOX
Market segment	Financial Services
Industry group	Real Estate
Prime sector	Prime Standard, Frankfurt
Indices	FTSE EPRA/NAREIT Global Real Estate Index Series FTSE EPRA/NAREIT Europe Real Estate Index Series SDAX Index
Designated sponsors	Oddo Seydler Bank AG

		June 30, 2015	December 31, 2014
Number of shares	thousand	87,097	79,018
thereof outstanding	thousand	87,097	79,018
Closing price1)	EUR	11.56	10.30
Market capitalisation	EUR k	1,006,841	813,885
Free float	percent	96	95
		January 1 – June 30, 2015	January 1 – June 30, 2014
Average daily trading volume (all exchange and OTC) 2)	EUR k	4,860	2,388
thereof XETRA	EUR k	3,069	1,215
Share price: high1)	EUR	13.85	10.01
Share price: low1)	EUR	10.55	8.30

1) Xetra closing share price.

2) Source: Bloomberg.

6 Events 2015

November 3	Publication of Q3 report
	Interim report
	Publication of sustainability report

Stay updated about our Investor Relations events. Visit our website www.alstria.com/investors

CONTACT INVESTOR RELATIONS

Ralf Dibbern

Phone	 +49 (0) 40 22 63 41-329
Fax	 +49 (0) 40 22 63 41-229

E-mail rdibbern@alstria.de

alstria office REIT-AG www.alstria.com info@alstria.de

Bäckerbreitergang 75 20355 Hamburg, Germany Phone +49 (0)40 226341-300 Fax +49 (0)40 226341-310

Friedrichstraße 19 40217 Düsseldorf, Germany Phone +49 (0)211 301216-600 Fax +49 (0)211 301216-615