DES GB 11 Magazin en

Overall, our 10 largest tenants are only responsible for one quarter of our rental incomes which shows that there is no major dependency on individual tenants. LONG-TERM RENTAL CONTRACTS Our standard rental contracts have a ten-year term. The weighted residual term at 31 December 2011 was 7.4 years with 69% of our rental con- tracts being secured until at least 2017. EXTERNAL CENTER MANAGEMENT Our long-term partner ECE Projektmanage- ment has been engaged to manage our 19 shopping centers. In addition, ECE imple- mented the development of the A10 Triangle as well as the expansions of the Main-Tau- nus-Zentrum in Sulzbach and the Altmarkt- Galerie in Dresden on our behalf. ECE was founded in 1965 by mail-order pio- neer Werner Otto and is held by the Otto family. It develops, plans, rents and manages The ten largest tenants (share of rental income in %) Metro Group 6.0% Douglas Group 4.4% H&M 2.7% New Yorker 2.3% Deichmann 1.9% Peek & Cloppenburg 1.9% C&A 1.7% REWE 1.6% Inditex Group 1.4% Esprit 1.4% Total of top 10 tenants: 25.3% Other tenants: 74.7% As at: 31 December 2011 Terms of rental contracts (term of contracts, share in %) 2012 3% 2013 2% 2014 8% 2015 8% 2016 10% 2017 et sqq. 69% As at: 31 December 2011 neer Werner Otto and is held by the Otto family. It develops, plans, rents and manages Jeans skirt with a star print from Marc Cain Slim-ﬁt knit jumper from Marc Cain Stadt-Galerie Passau Ballerinas with golden toe from Görtz 34 DES Annual Report 2011 THE CENTERS portfolio

DES GB 11 Magazin en

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