Overall Assessment of the Risk Situation

A total of 118 (2022: 107) individual risks were identified for Vonovia at the end of 2023.

All in all, and based on the current assessment, there were no signs of any risks threatening or endangering Vonovia or its survival at the end of 2023. At the time this report was prepared, Vonovia’s Management Board had not identified any risks associated with future business development that the company cannot suitably overcome, or which could jeopardize the position of Vonovia SE, a major company included in the scope of consolidation or the Group as a whole in terms of revenue, assets and/or finances.

The outcome of the risk-bearing capacity analysis performed in 2023 revealed that there is no current threat to Vonovia’s survival over the five-year period. This means that there is no change as against the risk assessment performed at the end of 2022 overall.

The risks to be modeled were quantified and the interaction between individual top risks and selected green risks analyzed in detail at the end of 2023.

10 (2022: 11) amber risks to the company and 108 (2022: 96) other green risks were identified. Specifically, the picture that emerges for each risk category is as follows (prior-year figures in brackets):