Reporting Framework

Principles/Material Topics

As a capital market-oriented company, Vonovia SE (hereinafter referred to as “Vonovia”) is required to make statements in accordance with Sections 315b, 315c in conjunction with Sections 289c to 289e HGB (Non-financial Group Declaration). These necessary reporting requirements were implemented in the management report of the 2024  Annual Report, which was published on March 19, 2025. The Non-financial Group Declaration was prepared in full compliance with the European Sustainability Reporting Standards (ESRS) and makes up the backbone of Vonovia’s sustainability reporting.

Within this context, Vonovia conducts regular materiality assessments to identify and validate the sustainability topics that are relevant to the company. The ESRS have provided a framework for this since the 2024 fiscal year. Vonovia was, however, already applying the concept of double materiality before 2024, and takes both the outside-in (financial materiality) and the inside-out (impact materiality) perspective into account when selecting the key sustainability topics. The materiality assessment process and the current valid materiality assessment are presented in detail in the section ESRS 2 IRO 1 of the 2024 Annual Report.

The materiality assessment applies to the entire Group. Vonovia applies the structure of the three sustainability pillars – environment, social and governance (ESG).

In order to be able to structure our sustainability strategy – which is also based on the three ESG pillars – more precisely, we break the social pillar down further into three action areas “Society and Contribution to Urban Development,” “Homes and Customers ” and “Corporate Culture and Employees.” The “Environment and Climate” action area corresponds to the E pillar, while the action area “Sustainable Corporate Governance and Responsible Business Practices” corresponds to the G pillar. This is designed to take account of the fact that our sustainability strategy and our material sustainability topics are not covered in full by the new ESRS topics. You can find more details on our action areas on our Group website.

This ESG structure is also used in this ESG Factbook. In addition to selected key figures from the Non-financial Group Declaration, i.e., key figures that are assigned to the material sustainability aspects, the ESG Factbook contains supplementary key ESG figures.

The table structure is based on the structure that, for each of the past three fiscal years (2022, 2023 and 2024), we report on a consolidated basis, also making distinctions at country level (Germany, Austria and Sweden) for the current 2024 reporting year.

Reporting Framework

Vonovia’s sustainability reporting in the Annual Report and in the ESG Factbook is based on the fiscal year and is published annually. The reporting period for this ESG Factbook relates to the 2024 fiscal year (January 1 to December 31, 2024), meaning that it picks up exactly where the 2023 ESG Factbook, which was published in April 2024, left off.

The definitions of the key figures used in the ESG Factbook are based on existing reporting frameworks and company-specific definitions. The ESRS metric definitions – where applicable to the relevant metric – form the basis for reporting in the ESG Factbook. Other key figures are based on the Universal Standards (as amended in 2021) of the Global Reporting Initiative (GRI). Other key figures use Vonovia-specific definitions. Where key figures are based on definitions from a reporting framework, the corresponding reference is included in a footnote to the table concerned.

The switch to the ESRS for reporting in the Non-financial Group Declaration in the 2024 Annual Report means that the scope of consolidation, as well as individual key figure definitions, have been adapted to reflect this reporting framework in the ESG Factbook, too, as of 2023.

We have not made any adjustments to disclosures for the 2022 fiscal year – these are not based on the ESRS calculation methodology, which may result in limited comparability of the corresponding key figures based on the ESRS calculation methodology between the 2022 fiscal year and the 2023 and 2024 fiscal years.

Organizational Boundaries/Scope of Consolidation

The key figures presented in the ESG Factbook reflect Vonovia SE’s activities in Germany, Austria (BUWOG AT) and Sweden (Victoriahem AB) and are based on the financial control approach. They include those companies presented in the list of shareholdings in the 2024 Annual Report that are also included in the consolidated financial statements. Entities with minority interests and apartments owned by third parties are not included.

Deutsche Wohnen SE, which has been part of the Vonovia Group since September 30, 2021, is fully integrated in the consolidated reporting.

This excludes the Deutsche Wohnen SE subsidiaries allocated to the Care segment. This area has been classified by Vonovia SE as discontinued operations. As of December 31, 2024, we had a total of 3,912 employees and 424 trainees in care service or care home management. The segment was sold in full at the beginning of the 2025 fiscal year. While the Care segment is reported as discontinued operations in the 2024 Non-financial Group Declaration, the information presented in the ESG Factbook is limited to Vonovia’s continuing operations.

The SYNVIA companies, other Deutsche Wohnen SE subsidiaries, are another exception. These companies were only included in the scope of consolidation in the course of the transition to ESRS reporting in the Non-financial Group Declaration. This means that the key figures in the ESG Factbook are also only reported including the SYNVIA companies from the 2023 fiscal year onwards.

Coverage

Residential property is the primary asset class in Vonovia SE’s real estate portfolio, accounting for 98.5%. With more than 63,000 buildings in the portfolio, reporting is aggregated at portfolio level (incl. all asset classes).

Data aggregation is performed at the level of individual countries and the information is consolidated at this level and at overall Group level. The key reporting figures make a distinction between the core markets of Germany, Austria and Sweden.

The breakdown can be made at country level according to the rentable area or the number of employees (headcount):

For a detailed segment analysis of the portfolio, please refer to the section entitled Portfolio Structure in the 2024 Annual Report.

Any deviations from the degree of coverage are explained directly in the corresponding tables of key figures.

Underlying Data/Estimation Techniques

As individual key figures have been transitioned to the ESRS reporting format and the standard setter has provided more details on the key figure definitions, methodological adjustments to individual key figure calculations have also been made in this ESG Factbook – e.g., in the case of the gender pay gap.

As far as possible and to the extent that the data is available at the required time, we use values that have actually been measured for our data analyses. Where data availability is restricted, we use generally recognized estimation techniques, for  example in the area of tenant-related utility services, which are invoiced directly to tenants. Energy certificate data forms the basis for calculating the portfolio’s heating supply and greenhouse gas emissions.

Third Party Assurance

The information provided in this ESG Factbook was subjected to a separate limited assurance audit in accordance with ISAE 3000 for Vonovia’s own purposes. The criteria used in this audit included the definitions and criteria set out in this ESG Factbook. An unqualified audit opinion was issued.