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Quarterly statement as at 30 September 2025 Key consolidated figures in € million Revenue Net operating income (NOI) EBIT EBT (excluding measurement gains/losses¹) EPRA² earnings FFO⁷ Consolidated profit in € EPRA² earnings per share FFO⁷ per share Earnings per share Weighted number of no-par-value shares with dividend rights⁶ in € million Equity³ Liabilities Total assets Equity ratio in %³ LTV ratio in %⁴ EPRA² LTV in %⁵ Cash and cash equivalents x 01.01.- 30.09.2025 01.01.- 30.09.2024 197.4 155.5 155.4 107.5 100.9 108.8 93.5 x x 01.01.- 30.09.2025 1.33 1.44 1.23 200.0 163.1 162.8 125.0 117.6 124.7 82.5 01.01.- 30.09.2024 1.54 1.64 1.08 75,743,854 76,186,237 x x 30.09.2025 31.12.2024 2,044.2 2,506.2 4,550.4 44.9 42.0 44.2 376.0 x 2,145.7 2,218.7 4,364.4 49.2 39.2 41.1 212.4 +/- -1.3% -4.7% -4.5% -13.9% -14.2% -12.8% 13.4% +/- -13.6% -12.2% 13.9% -0.6% +/- -4.7% 13.0% 4.3% 77.0% 1 2 3 4 5 6 7 Including the share attributable to equity-accounted joint ventures and associates European Public Real Estate Association Including third-party interests in equity Loan-to-value (LTV): Ratio of net financial liabilities (financial liabilities less cash and cash equivalents) to non-current assets (investment properties and financial investments accounted for using the equity method) EPRA Loan-to-Value (EPRA LTV): Ratio of net debt (financial liabilities and lease liabilities less cash and cash equivalents) to real estate assets (investment properties, owner-occupied properties, intangible assets and other assets (net)). Net debt and real estate assets are calculated on the basis of the Group’s share in the subsidiaries and joint ventures. The number of no-par value shares issued includes the treasury shares which were acquired. These shares were factored in on a time-weighted basis in the compara- tive period. Due to the first-time adjustment of FFO for non-cash interest expenses and non-recurring effects, the previous year’s figures have been adjusted accordingly. 2
Letter from the Executive Board Deutsche EuroShop the MALL s life DEAR SHAREHOLDERS, DEAR READERS, Our operating business performed largely in line with our expectations over the first nine months of the 2025 financial year. While the first quarter was still below the previous year’s level due to seasonal and weather-related effects, a positive trend in footfall and retail sales emerged as the year pro- gressed. Although the cumulative footfall in our 21 shop- ping centers was still 0.2 % below the level of the same period last year, a clear upward trend emerged over the course of the reporting period. Our tenants’ sales also improved and were up 2.2 % on the previous year’s figure. Like-for-like contractual rents increased by 0.4 %. Our revenue in the first nine months amounted to €197.4 million – 1.3 % lower than in the previous year. Higher rents were offset by rent incentives granted and lower apportion- ments of land taxes and insurance expenses. These positive effects were the result of the reduced burden on our shop- ping centers and retail partner tenants but had a negative impact on revenue. Net operating income (NOI) decreased by 4.7 % to €155.5 million and EBIT fell by 4.5 % to €155.4 million. These were influenced by one-off expenses related to non-apportion- able ancillary costs, which led to higher center operating expenses. At €107.5 million, EBT (excluding measurement gains/losses) was 13.9 % below the previous year’s figure – mainly due to an €8.8 million increase in interest expense. Measurement gains/losses benefited from the increased rental income and improved by €31.2 million to €4.5 million. As a result, consolidated profit increased by 13.4 % to €93.5 million. EPRA earnings per share amounted to €1.33 and FFO per share to €1.44. Both figures were below the corresponding values for the same period of the previous year (€1.54 and €1.64 respectively). “A clear upward trend emerged over the course of the reporting period.” Hans-Peter Kneip, CEO/CFO A particular highlight was the opening of the new Food Gar- den at the Main-Taunus-Zentrum in April. The modern, sus- tainably designed food court has been extremely popular – footfall at the MTZ has risen by around 17 % since it opened. The “Food & Fun Park” is due to be completed in the coming weeks and will add an attractive retailtainment component to the Rhein-Neckar-Zentrum, with new tenants from the gastronomy, sports and entertainment sectors. We reached a financial milestone by attaining our first cor- porate rating and tapping the capital market for future cor- porate financing. By successfully placing our first green bond in June, we have expanded our sources of funding and diversified our financing structure. The €500 million bond, which matures in October 2030, was heavily oversubscribed – reflecting the confidence that institutional investors have in our strategy and strength. The net proceeds will be used for general corporate financing and to support eligible sus- tainable projects in line with our Green Finance Framework. 3
Quarterly statement as at 30 September 2025 Our shareholders approved all of the agenda items at the Annual General Meeting in June by a large majority. In addi- tion to the resolution to pay a dividend of €2.65 per share for the 2024 financial year, Peter M. Ballon was elected as the new Chairman of the Supervisory Board. In light of these developments over the first nine months of the year, we are refining our forecast for financial year 2025. We expect revenue to be in the lower range and EBIT and FFO in the middle range of the original forecast. EBT (excluding measurement gains/losses) is expected to be slightly below the original forecast, partly as a result of an increase in interest expenses due to the amended financing structure. Revenue: €268 million to €273 million (previously: €268 million to €276 million) EBIT: €211 million to €216 million (previously: €209 million to €217 million) EBT (excluding measurement gains/losses): €144 million to €149 million (previously: €150 million to €158 million) FFO: €146 million to €151 million (previously: €145 million to €153 million) Thank you for the confidence you have placed in Deutsche Euroshop and your continued support. Hamburg, November 2025 Executive Board 4
Business performance the MALL s life Deutsche EuroShop RESULTS OF OPERATIONS in € thousand Revenue Operating and administrative costs for property Write-downs and derecognition of receivables xNOI Other operating income Other operating expenses xEBIT At-equity profit/loss Measurement gains/losses (at equity) Deferred taxes (at equity) At-equity (operating) profit/loss Interest expense Profit/loss attributable to limited partners Interest income Other financial expenses Financial gains/losses (excluding measurement gains/losses) x -47,861 -37,839 -10,022 xEBT (excluding measurement gains/losses) Measurement gains/losses Measurement gains/losses (at equity) Measurement gains/losses (including at equity) Taxes on income and earnings Deferred taxes Deferred taxes (at equity) Deferred taxes (including at equity) xConsolidated profit 107,537 4,292 232 4,524 -5,120 -13,330 -94 -13,424 93,517 x 124,960 -31,695 5,033 -26,662 -5,309 -10,357 -175 -10,532 82,457 -17,423 31,186 189 -2,892 11,060 x 01.01.- 30.09.2025 01.01.- 30.09.2024 ± in % Change 197,432 -36,585 -5,360 155,487 7,039 -7,128 199,964 -31,055 -5,816 163,093 6,716 -7,010 -2,532 -5,530 456 -7,606 323 -118 155,398 162,799 -7,401 6,733 -232 94 6,595 -44,581 -10,438 3,302 -2,739 11,591 -5,033 175 6,733 -35,798 -10,920 4,022 -1,876 -138 -8,783 482 -720 -863 -1.3 -17.8 7.8 -4.7 4.8 -1.7 -4.5 -2.0 -24.5 4.4 -17.9 -46.0 -26.5 -13.9 117.0 3.6 -27.5 13.4 5
Quarterly statement as at 30 September 2025 REVENUE DOWN YEAR-ON-YEAR Compared to the first nine months of 2024, revenue fell slightly by €2.5 million (-1.3 %). While contractual rents increased slightly compared to the previous year (+0.4 %), revenue from rental income fell slightly overall due to rental incentives granted. These are to be spread over the term of the rental agreements. Revenue from land tax apportion- ments and insurance expenses fell by €1.2 million, largely as a result of the land tax liability of our shopping centers going down after land tax reforms. CENTER OPERATING EXPENSES UP ON PREVIOUS YEAR Center operating expenses, which mainly comprise center management fees, non-apportionable ancillary costs, land taxes, building insurance and maintenance, came to €36.6 million in the reporting period, up 17.8 % on the pre- vious year. This was largely due to one-off expenses related to non-apportionable ancillary costs associated with the renewal of technical equipment and storm damage. The building insurance provider has already reimbursed the eligible expenses, and these reimbursements have been recognised in other operating income. In contrast, land tax expenses have fallen sustainably due to the lower land tax liability following the land tax reforms. DECREASE IN NECESSARY WRITE-DOWNS Write-downs and the derecognition of receivables decreased compared to the previous year by €0.5 million (7.8 %) to €5.4 million. OTHER OPERATING INCOME AND EXPENSES Other operating income – stemming primarily from income from rental receivables for which impairment losses had been recognised in previous years, from the reversal of provisions, from insurance reimbursements, and from addi- tional payments with respect to ancillary costs – amounted to €7.0 million, a higher figure than in the comparative period of the previous year (€6.7 million). Other operating expenses, which mainly comprised general administrative costs and personnel costs, increased slightly to €7.1 million (previous year: €7.0 million). EBIT DOWN SLIGHTLY COMPARED TO PREVIOUS YEAR At €155.4 million, earnings before interest and taxes (EBIT) were slightly lower than in the previous year (€162.8 mil- lion). This was mainly due to higher center operating expenses, in addition to a slight decline in revenue. DECREASE IN FINANCIAL GAINS/LOSSES AS EXPECTED Financial gains/losses (excluding measurement gains/ losses) came to €-47.9 million, down from €-37.8 million in the previous year. This was largely attributable to an €8.8 million increase in interest expense. This was affected by the June 2024 loan increases for the Allee-Center Hamm and the Allee-Center Magdeburg, first-time borrowing in August 2024 for the Rathaus-Center Dessau and the bond issued in June 2025. Interest income came to €3.3 million, slightly lower than in the previous year (€4.0 million). Other financial expenses of €2.7 million were attributable to Stadt-Galerie Hameln and Stadt-Galerie Passau. These were related to swap agreements coming to an end when the underlying loans were repaid in full. DOWNTURN IN EBT (EXCLUDING MEASUREMENT GAINS/LOSSES) As a result of the fall in financial gains/losses and the slight decline in EBIT, EBT (excluding measurement gains/losses) fell by 13.9 % to €107.5 million (previous year: €125.0 mil- lion). MEASUREMENT GAINS/LOSSES Measurement gains/losses for the first nine months of 2025, including the increased investments in the real estate portfolio, totalled €4.5 million (previous year: €-26.7 mil- lion). After minority interests, €4.3 million of this was attributable to the measurement of real estate assets reported by the Group, while a gain of €0.2 million was attributable to joint ventures accounted for using the equity method. TAXES ON INCOME AND EARNINGS Taxes on income and earnings went down slightly to €-5.1 million (previous year: €-5.3 million). Expenses from deferred taxes, resulting mainly from a rise in market val- ues and the systematic depreciation of the tax balance sheet values of our real estate assets, amounted to €13.4 million (previous year: €10.5 million). 6
Deutsche EuroShop the MALL s life SIGNIFICANTLY HIGHER CONSOLIDATED PROFIT SLIGHT FALL IN EPRA EARNINGS Consolidated profit was €11.0 million higher than in the same period of the previous year (€82.5 million) at €93.5 million. This was driven by an increase in measure- ment gains/losses. Earnings per share increased from €1.08 to €1.23. EPRA earnings, which exclude measurement gains/losses, fell by €16.7 million or €0.21 per share. This was largely due to the lower EBIT and the fall in financial gains/losses. EPRA EARNINGS Consolidated profit Measurement gains/losses on investment properties1 Deferred tax adjustments pursuant to EPRA2 xEPRA earnings Weighted number of no-par-value shares with dividend rights x 01.01.-30.09.2025 01.01.-30.09.2024 in € thousand per share in € in € thousand per share in € 93,517 -4,524 11,879 100,872 x 1.23 -0.06 0.16 1.33 82,457 26,662 8,485 117,604 1.08 0.35 0.11 1.54 75,743,854 76,186,237 1 2 Incl. the share attributable to equity-accounted joint ventures and associates Affects deferred taxes on investment properties and derivative financial instruments DEVELOPMENT OF FUNDS FROM OPERATIONS (FFO) Funds from operations (FFO) are used to finance our ongo- ing investments in portfolio properties, scheduled repay- ments on our long-term bank loans and as the basis for the distribution of dividends. Significant non-recurring effects that are not part of the Group’s operating activities are elim- inated in the calculation of FFO. FFO decreased from €124.7 million to €108.8 million, or from €1.64 to €1.44 per share. Funds from operations Consolidated profit Measurement gains/losses on investment properties¹ Non-cash interest expenses¹ ² Non-recurring effects¹ ² Deferred taxes¹ xFFO x 01.01.-30.09.2025 01.01.-30.09.2024 in € thousand per share in € in € thousand per share in € 93,517 -4,524 3,632 2,739 13,424 108,788 x 1.23 -0.06 0.05 0.04 0.18 1.44 82,457 26,662 3,150 1,876 10,532 124,677 1.08 0.35 0.04 0.03 0.14 1.64 75,743,854 76,186,237 1 2 Incl. the share attributable to equity-accounted joint ventures and associates Due to the first-time adjustment of FFO for non-cash interest expenses and non-recurring effects, the previous year’s figures have been adjusted accordingly 7
Quarterly statement as at 30 September 2025 Revenue in € million EBIT in € million 200.0 197.4 EBT in € million (excluding measurement gains/losses) FFO per share in € 162.8 155.4 125.0 107.5 1.64 1.44 M 9 M 9 M 9 M 9 M 9 M 9 M 9 M 9 2024 2025 2024 2025 2024 2025 2024 2025 8
FINANCIAL POSITION AND NET ASSETS LIABILITIES Deutsche EuroShop the MALL s life As at 30 September 2025, current and non-current financial liabilities increased by €287.6 million to €2,096.0 million, mainly as a result of the green bond issued in June. This was partially offset by the full repayment of loans for the Herold-Center Norderstedt and Stadt-Galerie Hameln, as well as the partial repayment of loans for Stadt-Galerie Passau. All loan and bond covenants were met as at 30 September 2025. Non-current deferred tax liabilities increased by €13.9 mil- lion to €364.7 million due to additional provisions. Other current and non-current liabilities and provisions fell by €14.0 million. Liabilities NET ASSETS AND LIQUIDITY The total assets of the Deutsche EuroShop Group came to €4,550.4 million, a slight increase compared to the previous reporting date. A bond with a nominal value of €500.0 mil- lion was issued in June 2025. This increase was largely driven by the rise in cash and cash equivalents (€+163.6 million), which were boosted by the proceeds from the bond issue after repayments of existing loans. EQUITY RATIO OF 44.9% The equity ratio (including shares held by third-party share- holders) declined from 49.2 % at the last reporting date to 44.9 %. This was primarily due to the distribution of divi- dends for the 2024 financial year totalling €200.7 million and the issuance of the bond. It remains at a robust level. Balance sheet structure Balance sheet total in € million Assets 4,550.4 403.5 4,364.4 244,0 . 2 1 1 3 . . . 9 0 3 4,550.4 62.1 2,444.1 . . 9 0 3 4,364.4 67.2 2,151.5 . 2 1 1 3 . 4,120.4 4,146.9 2,044.2 2,145.7 2024 2025 2025 2024 Current assets Non-current assets Current liabilities Non-current liabilities Total equity (incl. third-party shareholders) 9
Quarterly statement as at 30 September 2025 REPORT ON EVENTS AFTER THE REPORTING DATE On 30 September 2025, the Supervisory Board approved a resolution of the Executive Board to cancel treasury shares. The capital reduction came into effect on 1 October 2025. Since then, the share capital has amounted to €75,743,854.00, divided into 75,743,854 shares. No further significant events occurred between the balance sheet date of 30 September 2025 and the date of prepara- tion of the financial statements. OUTLOOK RISK REPORT The financing risk section of the Risk Report was updated due to the Group issuing a bond in June 2025. For more information, please refer to the Risk Report section of the 2025 Half-year Financial Report (see p. 13 onwards of the Half-year Financial Report as at 30 June 2025). Since the beginning of the financial year, there have been no significant changes to the information provided in the risk report of the combined management report as at 31 December 2024 (see Annual Report 2024, p. 152 onwards). We do not believe that the Company currently faces any risks capable of jeopardising its continued exis- tence. EXPECTED RESULTS OF OPERATIONS AND FINANCIAL POSITION In light of the developments over the first nine months of the year, we are refining our forecast for financial year 2025. We are lowering our forecast for EBT slightly, partly as a result of higher interest expenses due to amendments to the financing structure. For the year as a whole, we now expect: Revenue: €268 million to €273 million (previously: €268 million to €276 million) Earnings before interest and taxes (EBIT): €211 million to €216 million (previously: €209 million to €217 million) Earnings before taxes (EBT) excl. measurement gains/losses: €144 million to €149 million (previously: €150 million to €158 million) Funds from operations (FFO): €146 million to €151 million (previously: €145 million to €153 million) Revenue in € million EBIT in € million 273.3 271.4 Goal 268- 273 212.7 216.3 Goal 211- 216 EBT in € million (excluding measurement gains/losses) Funds from operations in € million 169.5 165.2 Goal 144- 149 171.3 157.1 Goal 146- 151 2023 2024 2025 2023 2024 2025 2023 2024 2025 2023 2024 2025 10
Consolidated balance sheet Deutsche EuroShop the MALL s life Assets in € thousand ASSETS Non-current assets Intangible assets Property, plant and equipment Investment properties Investments accounted for using the equity method xNon-current assets Current assets Trade receivables Other current assets Cash and cash equivalents xCurrent assets xTotal assets Liabilities in € thousand EQUITY AND LIABILITIES Equity and reserves Subscribed capital Capital reserves Retained earnings Treasury shares xTotal equity Non-current liabilities Financial liabilities Deferred tax liabilities Limited partner contributions of non-controlling interests Other liabilities xNon-current liabilities Current liabilities Financial liabilities Trade payables Tax liabilities Other provisions Other liabilities xCurrent liabilities xTotal equity and liabilities x 30.09.2025 31.12.2024 51,745 325 3,992,521 102,306 4,146,897 10,512 16,984 376,032 403,528 51,731 371 3,966,721 101,534 4,120,357 14,711 16,899 212,438 244,048 4,550,425 4,364,405 x x 30.09.2025 31.12.2024 76,464 793,943 910,247 -720 76,464 793,943 1,014,853 -720 1,779,934 1,884,540 2,077,909 1,795,909 364,749 264,283 1,479 350,887 261,156 4,715 2,708,420 2,412,667 18,074 6,631 13,723 9,747 13,896 62,071 12,465 7,349 16,876 12,669 17,839 67,198 4,550,425 4,364,405 x 11
Quarterly statement as at 30 September 2025 Consolidated income statement in € thousand Revenue Property operating costs Property management costs Write-downs and disposals of financial assets xNet operating income (NOI) Other operating income Other operating expenses xEarnings before interest and taxes (EBIT) Share in the profit or loss of associates and joint ventures accounted for using the equity method Interest expense Profit/loss attributable to limited partners Other financial expenses Interest income xFinancial gains/losses xMeasurement gains/losses xEarnings before taxes (EBT) Taxes on income and earnings xConsolidated profit Earnings per share (€) x x 01.07.- 30.09.2025 01.07.- 30.09.2024 01.01.- 30.09.2025 01.01.- 30.09.2024 66,070 -8,454 -3,824 -1,519 52,273 1,940 -2,749 51,464 1,745 -17,866 -3,219 -1,965 1,705 -19,600 -5,228 26,636 -2,895 23,741 0.31 x 67,117 -5,264 -3,705 -1,498 56,650 2,151 -3,354 55,447 2,378 -13,028 -3,815 0 1,860 -12,605 -14,026 28,816 -5,859 22,957 0.30 197,432 -25,170 -11,415 -5,360 155,487 7,039 -7,128 199,964 -19,979 -11,076 -5,816 163,093 6,716 -7,010 155,398 162,799 6,733 -44,581 -10,438 -2,739 3,302 -47,723 4,292 111,967 -18,450 93,517 1.23 x 11,591 -35,798 -10,920 -1,876 4,022 -32,981 -31,695 98,123 -15,666 82,457 1.08 12
Consolidated statement of comprehensive income the MALL s life Deutsche EuroShop in € thousand xConsolidated profit Items which under certain conditions in the future will be reclassified to the income statement: x Actual share of the profits and losses from instruments used to hedge cash flows Deferred taxes on changes in value offset directly against equity xTotal earnings recognised directly in equity xTotal profit Share of Group shareholders x x 01.07.- 30.09.2025 01.07.- 30.09.2024 01.01.- 30.09.2025 01.01.- 30.09.2024 23,741 22,957 93,517 82,457 1,913 -333 1,580 25,321 25,321 x -918 154 -764 22,193 22,193 3,129 3,066 -531 2,598 96,115 96,115 x -491 2,575 85,032 85,032 Consolidated statement of changes in equity in € thousand x01.01.2024 Total profit Acquisition of treasury shares Dividend payments x30.09.2024 x01.01.2025 Total profit Dividend payments x30.09.2025 Number of shares outstanding Sub- scribed capital Capital reserves Other retained earnings Statutory reserve Cash flow hedge reserve 76,455,319 76,464 793,943 1,252,635 2,000 -5,366 -530,677 0 0 0 0 0 0 82,457 -10,557 -346,609 0 0 0 2,575 0 0 x Treasury shares -9 0 Total 2,119,667 85,032 -531 -11,088 0 -346,609 75,924,642 76,464 793,943 977,926 2,000 -2,791 -540 1,847,002 75,743,854 76,464 793,943 1,015,451 2,000 -2,598 -720 1,884,540 0 0 0 0 93,517 -200,721 0 0 75,743,854 76,464 793,943 908,247 2,000 2,598 0 0 0 0 96,115 -200,721 -720 1,779,934 x 13
Quarterly statement as at 30 September 2025 Consolidated cash flow statement in € thousand xConsolidated profit Income taxes Financial gains/losses Amortisation/depreciation of intangible assets and property, plant and equipment with a finite life Unrealised changes in fair value of investment property and other measurement gains/losses Distributions and capital repayments received Changes in trade receivables and other assets Changes in current provisions Changes in liabilities xCash flow from operating activities Interest paid Interest received Income taxes paid xNet cash flow from operating activities Outflows for the acquisition of investment properties Outflows for the acquisition of intangible assets and property plant and equipment xCash flow from investing activities Inflows from the assumption of financial liabilities Outflows from the repayment of financial liabilities Outflows from the repayment of lease liabilities Acquisition of treasury shares Payments to limited partners Payments to Group shareholders xCash flow from financing activities xNet change in cash and cash equivalents xCash and cash equivalents at beginning of period xCash and cash equivalents at end of period x 01.01.- 30.09.2025 01.01.- 30.09.2024 93,517 18,450 47,723 114 -4,292 5,961 1,039 -2,922 -7,206 82,457 15,666 32,981 104 31,695 6,234 1,398 -5,110 -5,436 152,384 159,989 -40,949 3,302 -8,533 106,204 -17,586 -82 -17,668 493,855 -210,152 -26 0 -7,898 -200,721 75,058 163,594 212,438 376,032 x -32,648 4,022 -5,940 125,423 -29,615 -30 -29,645 158,428 -25,886 -50 -11,088 -7,958 -346,609 -233,163 -137,385 336,071 198,686 14
Deutsche EuroShop the MALL s life SEGMENT REPORTING Segment reporting by Deutsche EuroShop AG is carried out on the basis of internal reports that are used by the Executive Board to manage the Group. Internal reports dis- tinguish between shopping centers in Germany (“domestic”) and other European countries (“abroad”). As the Group’s main decision-making body, the Executive Board of Deutsche EuroShop AG first and foremost assesses the performance of the segments based on revenue, EBIT and EBT excluding measurement gains/losses. The mea- surement principles for segment reporting correspond to those of the Group. To assess the contribution of the segments to the individual performance indicators as well as to the Group’s per- formance, the income, expenditure, assets and liabilities of the joint ventures are included in internal reporting in pro- portion to the Group’s share in the same. Similarly, for sub- sidiaries in which the Group is not the sole shareholder, income, expenditure, assets and liabilities are only con- solidated in proportion to the corresponding Group share. This results in the following figures, broken down by seg- ment: BREAKDOWN BY SEGMENT in € thousand Revenue 01.01.-30.09.2024 x EBIT 01.01.-30.09.2024 x EBT (excluding measurement gains/ losses) x 01.01.-30.09.2024 Domestic 148,714 (152,519) 116,593 (124,010) 82,818 (96,624) Abroad 42,167 Total 190,881 (40,529) (193,048) 37,045 153,638 (36,028) (160,038) x Reconcili- ation 01.01.- 30.09.2025 6,551 (6,916) 1,760 (2,761) 197,432 (199,964) 155,398 (162,799) 32,830 115,648 -8,111 107,537 (31,028) (127,652) (-2,692) (124,960) x x 30.09.2025 Segment assets x 31.12.2024 3,129,017 802,591 3,931,608 618,817 4,550,425 (3,135,733) (804,027) (3,939,760) (424,645) (4,364,405) of which investment properties 3,000,505 766,960 3,767,465 225,056 3,992,521 x 31.12.2024 (2,980,295) (763,960) (3,744,255) (222,466) (3,966,721) x The adjustment of the proportionate consolidation of the joint ventures and subsidiaries in which the Group does not own a 100% stake is carried out in the reconciliation col- umn. Deferred tax liabilities are considered by the Executive Board of Deutsche EuroShop AG cross-segmentally and are therefore included in the reconciliation column for segment liabilities. Accordingly, the goodwill from the acquisition of Olympia Brno was allocated to the reconciliation column of the segment assets. The reconciliation column also contains the companies that are not allocated to either of the two segments (Deutsche EuroShop AG, DES Management GmbH and DES Beteiligungs GmbH & Co. KG). In view of the geographical segmentation, no further infor- mation pursuant to IFRS 8.33 is given. 15
Quarterly statement as at 30 September 2025 OTHER DISCLOSURES THE SHOPPING CENTER SHARE DIVIDEND At the Annual General Meeting on 27 June 2025, the Exec- utive Board and Supervisory Board proposed a dividend distribution of €2.65 per share for the 2024 financial year. The Annual General Meeting approved the proposal. The dividend was paid out on 2 July 2025. RESPONSIBILITY STATEMENT BY THE EXECUTIVE BOARD To the best of my knowledge, and in accordance with the applicable reporting principles for interim financial report- ing, the interim consolidated financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group, and the interim management report of the Group includes a fair review of the per- formance of the business, including the operating results and the position of the Group, together with a description of the principal opportunities and risks associated with the expected performance of the Group for the remainder of the financial year. Hamburg, 13 November 2025 After closing 2024 at €18.501, Deutsche EuroShop’s share traded sideways in the first few weeks of 2025 within a relatively narrow range between €18.00 and €19.00 before a positive breakout in the second half of March. In line with the prevailing global trend, the share then came under sig- nificant pressure amid discussions related to US tariffs, reaching its lowest point in the first nine months of the year at €17.26 on 7 April 2025. This was followed by a strong positive trend, particularly in the two weeks before the Annual General Meeting in Hamburg, to which our share- holders were invited on 27 June 2025. The share hit its high for the reporting period on 25 June 2025 at €23.20. In the following weeks, the share again fluctuated between €18.00 and €19.00. At the end of the first nine months of 2025, the share price stood at €18.52 on 30 September. Taking into account the dividend of €2.65 per share for the 2024 financial year which was distributed on 2 July 2025, this corresponds to a performance of +13.3 %. The small cap index SDAX rose by 23.5 % over the same period. Deutsche EuroShop’s market capitalisation stood at €1.42 billion at the end of September 2025. On 30 September 2025, the Supervisory Board approved a resolution of the Executive Board to cancel the 720,465 treasury shares acquired under a share buy-back pro- gramme between December 2023 and December 2024. The capital reduction came into effect on 1 October 2025. Since then, to €75,743,854.00, divided into 75,743,854 shares. the share capital has amounted Hans-Peter Kneip KEY SHARE DATA Financial services/real estate €76,464,319.00 Sector/industry group Share capital on 30.09.2025 Number of shares on 30.09.2025 (no-par-value registered shares) Number of treasury shares on 30.09.2025 Dividend for 20242 Share price on 30.12.2024 Share price on 30.09.2025 Low/high for the period under review Market capitalisation on 30.09.2025 Prime Standard OTC markets Indices ISIN Ticker symbol 76,464,319 720,465 €2.65 €18.50 €18.52 €17.26/€23.20 €1.42 billion Frankfurt and Xetra Berlin, Düsseldorf, Hamburg, Hanover, Munich and Stuttgart SDAX, CDAX, EPRA, HASPAX, Prime All Share Index, Classic All Share Index DE 000748 020 4 DEQ, Reuters: DEQGn.DE 1 Unless otherwise specified, all information and calculations are based on Xetra closing prices. 2 Paid on 2 July 2025 16
Deutsche EuroShop the MALL s life Deutsche EuroShop vs. DAX and EPRA Comparison, January to November 2025 (indexed, base of 100, in %) 130 125 120 115 110 105 100 95 Dec 24 Mar 25 Jun 25 Sep 25 Deutsche EuroShop share EPRA SDAX FINANCIAL CALENDAR 2025 13.11. Quarterly statement 9M 2025 20.11. Kepler Cheuvreux Pan-European Real Estate Conference, London CIC Forum by Market Solutions (virtual) Would you like further information? Then visit us online or call us: Patrick Kiss and Nicolas Lissner Tel.: +49 (0)40 - 41 35 79-20 / -22 Fax: +49 (0)40 - 41 35 79-29 Email: ir@deutsche-euroshop.de Online: www.deutsche-euroshop.com/ir 11.12. 2026 21.01. 19.03. Forward-looking statements This quarterly statement contains forward-looking statements based on estimates of future developments by the Executive Board. The statements and forecasts represent estimates based on all of the information available at the current time. If the assumptions on which these statements and forecasts are based do not materialise, the actual results may differ from those currently forecast. Rounding and rates of change Percentages and figures stated in this report may be subject to rounding differences. The signs used to indicate rates of change are based on eco- nomic considerations: improvements are indicated with a plus sign (+); deteriorations with a minus sign (-). Kepler Cheuvreux German Corporate Conference, Frankfurt Bank of America EMEA Real Estate CEO Conference, London Consolidated financial statements 2025 31.03 28.04. Annual Report 2025 29.04. JP Morgan Fixed Income IG Real Estate Conference, London 12.05. Quarterly statement 3M 2026 18.06. Annual General Meeting, Hamburg 13.08. Half-year Financial Report 2026 21.- 23.09. 21.- 24.09. 12.11. Quarterly statement 9M 2026 Berenberg and Goldman Sachs German Corporate Conference, Munich Baader Investment Conference, Munich Our financial calendar is updated continuously. Please check our website for the latest events: www.deutsche-euroshop.com/ir 17