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DES GB2012 E

LONG-TERM RENTAL CONTRACTS The rental contracts that we sign with our tenants tend to have a standard term of ten years. As at 31 December 2012 the weighted residual term of the rental contracts in our portfolio was seven years, with 63% of our rental contracts being secured until at least 2018. A location's catchment area is a major factor for us when it comes to selecting an investment: this is ascertained on an annual basis according to stand- ardised rules for all shopping centers and represents the number of potential customers for the location in question. In 2012 we welcomed a total of around 190 million visitors to our 20 properties. OUR TOP 10 TENANTS With a share of 5.7%, the Metro Group is our biggest tenant. It is one of the most important international retailers and is represented in a large number of our centers by its retail brands Media Markt and Saturn (consumer electronics), Real-SB-Warenhaus and Galeria Kaufhof Warenhaus. Behind this in second place is the Douglas Group, one of Europe's leading retailers, which, with its divisions Douglas perfumer- ies, Thalia bookshops, Christ jewellery shops, Appel- rathCüpper fashion stores and Hussel confectioners, is a tenant of our centers and has a share of 4.6% in our overall rental volume. Our rental contract portfolio is highly diversified: our top 10 tenants are responsible for a quarter of our rental income, which shows that there is no depend- ency on individual tenants. The ten largest tenants share of rental income in % 74.1 Other tenants 5.7 Metro Group 4.6 Douglas Group 2.9 H&M 2.2 New Yorker 2.1 Peek & Cloppenburg 1.9 Deichmann 1.8 C&A 1.7 REWE 1.5 Esprit 1.5 Inditex 25.9 Total of top ten tenants As at: 31 December 2012 Long-term rental contracts term of contracts, share in % 63 2018 et sqq. 2 2013 7 2014 8 2015 9 2016 11 2017 As at: 31 December 2012 THE CENTERS { 52 } DES ANNUAL REPORT 2012 Portfolio