Deutsche Wohnen SE — M&A Activity 2021

Aug 1, 2021

Deutsche Wohnen SE

New Voluntary Offer by Vonovia¹ and Business Combination Agreement 02 August 2021

Key Terms of Relaunched Offer (subject to BaFin Approval) 1

Deutsche Wohnen 1 Approval needed to waive 12-months restriction period for renewed voluntary takeover offer. The decision whether to grant the waiver is at the discretion of BaFin and is expected in the upcoming week. Note: Subject to successful completion of the offer.

Expected Transaction Timetable¹

1 August 2021	Announcement of the intention to make voluntary take over offer2
Late August 2021	Publication of offer document and start of the initial acceptance period
Late September 2021	End of the initial acceptance period
Late September 2021	Publication of results of initial acceptance period
Late September 2021	Start of the additional acceptance period
Early October 2021	First settlement
Early October 2021	End of the additional acceptance period
Late October 2021	Second settlement

Disclaimer

This presentation contains forward-looking statements including assumptions, opinions and views of Deutsche Wohnen or quoted from third party sources. Various known and unknown risks, uncertainties and other factors could cause actual results, financial positions, the development or the performance of Deutsche Wohnen to differ materially from the estimations expressed or implied herein. Deutsche Wohnen does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor do they accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecasted developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, including projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, none of Deutsche Wohnen SE or any of its affiliates (including subsidiary undertakings) or any of such person's officers, directors or employees accepts any liability whatsoever arising directly or indirectly from the use of this document. Deutsche Wohnen does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this presentation.

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