Vonovia SE

Investor Presentation • Sep 25, 2014

Deutsche Annington Immobilien SE

EPRA Annual Conference London, 25th September 2014

Rolf Buch, CEO

Deutsche Annington at a glance (data as per 30.06.2014)

• Top 5 European real estate company¹ and the largest German residential firm²
• 185k residential units well spread across Germany
• 97% of portfolio by fair value located in Western Germany and Berlin
• More than 3.200 employees incl. own craftsmen organization with 1600 FTE
• Standardized processes and industrialized platform
• Best-in-class financing structure in the German real estate sector
• Dedicated portfolio strategy and investment program focused on value creation

¹ By market cap; ² In listed German residential sector

Our strategy: The engine and the turbo

German residential real estate

• Elements 1 & 2 ensure a decreasing cost basis and keep the organisation lean.
• Elements 3 & 4 create sustainable growth and power portfolio value generation. We are changing the product.
• Acquisitions do feed all elements, but are not necessary for growth generation.

We have a strategy that works without acquisitions, but acquisitions can be a turbo