Press Release

ACCENTRO Real Estate AG: Background to the notification of the orders for audit by BaFin

08.

July 2024

Berlin, 8 July 2024 – Germany’s Federal Financial Supervisory Authority (“BaFin”) announced in decisions dated 13 and 25 June 2024 that it had ordered an examination for cause pursuant to section 107, paragraph 1, sentence 1, German Securities Trading Act, towards ACCENTRO Real Estate AG (“Company”) and reported on this on its homepage today. The orders for audit concern exclusively the Company’s accounting for the reversal of the acquisition of DIM Holding AG (“DIM transaction”) in the disclosed annual and consolidated financial statements dated 31 December 2021 and 31 December 2022 along with the related combined management reports for the 2021 and 2022 financial years.

The reason for the order were indications suggesting that the Company’s claim to repayment of the purchase price including interest in the amount of EUR 15.8 million as of 31 December 2021 (31 December 2022: EUR 16.5 million) and the loan granted to DIM Holding AG including interest in the amount of EUR 3.1 million as of 31 December 2021 (31 December 2022: EUR 3.3 million) might have had to be adjusted in the respective financial years.

As a result of the orders for audit, BaFin will audit the Company’s accounting separately in relation to the DIM transaction during the 2021 and 2022 financial years. Other than that, the Company’s financial reports for the 2021 and 2022 financial years are not subject to any further auditing by BaFin.

The Company maintains close communication with BaFin to further clarify the past facts and to bring the examinations for cause to an amicable conclusion in a constructive dialog.

Independently of this, the new Management Board has already made a value adjustment of EUR 13.3 million as of 30 September 2023 due to ongoing developments in connection with the enforcement of the claim and to the very distressed situation on the real estate market, which was reported in detail in the respective opportunity and risk report (page 10 of the interim financial statement for Q3 2023). The residual receivable from the DIM transaction has therefore only amounted to EUR 4.4 million since 30 September 2023. In this respect, the Management Board does not expect any relevant disadvantages for the Company.

About ACCENTRO Real Estate AG

ACCENTRO Real Estate AG is a residential investor and market leader in residential privatisation in Germany. As of 30 September 2023, the property portfolio comprised 5,731 units with an area of around 334,000 square metres. The book value of the entire portfolio totalled around EUR 590 million. In addition to Berlin, the regional focus includes major central German cities and conurbations as well as the Rhine-Ruhr metropolitan region. ACCENTRO's business activities comprise three core areas. These include the tenant-oriented sale of flats to private owner-occupiers and investors, the sale of property portfolios to institutional investors, the management of its own property portfolio and services for third parties. The shares of ACCENTRO Real Estate AG are listed in the Prime Standard segment of the Frankfurt Stock Exchange (WKN: A0KFKB, ISIN: DE000A0KFKB3). www.accentro.de

Contact for Investor Relations and Press:

Thomas Eisenlohr

ACCENTRO Real Estate AG

Kantstraße 44/45

10625 Berlin

E-Mail

Telefon

eisenlohr@accentro.de

+49 (0)30 88 71 81 272

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