EQS-Adhoc: Deutsche EuroShop AG: Deutsche EuroShop plans to pay a special dividend - resolution expected to be passed at the Extraordinary General Meeting in early January 2024

Deutsche EuroShop plans to pay a special dividend - resolution expected to be passed at the Extraordinary General Meeting in early January 2024

The Executive Board of Deutsche EuroShop AG, Hamburg ("Company"), has decided to convene an Extraordinary General Meeting on 8 January 2024 and to propose the payment of a special dividend of € 1.35 per share of the Company ("Special dividend") for resolution. The company's Supervisory Board approved the proposal to pay the special dividend today. Based on the number of 76,464,319 shares issued in the company, this corresponds to an amount of € 103,226,830.65 to be distributed from the net retained profits for the 2022 financial year.

The special dividend is to be paid in addition to the dividend already paid out to shareholders on 1 September 2023. For this purpose, the resolution on the appropriation of profits for the 2022 financial year already adopted by the company's Annual General Meeting on 29 August 2023 is to be adjusted at the upcoming Extraordinary General Meeting and the partial amount of € 500,000,087.94 carried forward to new account at that time is to be reduced by the above-mentioned additional amount to be distributed to € 396,773,257.29. Subject to a corresponding resolution by the Extraordinary General Meeting, payment of the special dividend is then planned for 11 January 2024.

The distribution is in line with the Company's strategy of reorganising its capital and financing structure and using cash that is not required to meet the Deutsche EuroShop Group's liquidity requirements to increase dividend payments or pay a special dividend. In this context, the Company recently reviewed the Deutsche EuroShop Group's liquidity requirements. In addition, companies of the Deutsche EuroShop Group, in particular those in which the Deutsche EuroShop Group acquired additional shares at the beginning of 2023, are currently in the process of increasing existing loans. With regard to the corresponding companies, the additional borrowing ultimately serves to subsequently increase the debt ratio in relation to the respective shopping centers and, from a Group perspective, also to increase the debt ratio. As a result, the Deutsche EuroShop Group now has cash that can be distributed to shareholders in the short term.

The Company reserves the right to adjust its proposed resolution on the distribution of the special dividend before or at the latest at the Annual General Meeting if this should prove possible and expedient for the distribution of a higher dividend due to new circumstances, in particular the creation of further liquidity through the conclusion of loan agreements expected from today's perspective.

Issued by: Nicolas Lissner, Senior Manager Investor Public Relations