Key Figures

Financial Key Figures in € million	3M 2023*	3M 2024	Change in %	12M 2023

Adjusted EBITDA Total (continued operations)*	627.9	607.0	-3.3	2,583.8
Adjusted EBITDA Rental	584.2	592.9	1.5	2,401.7
Adjusted EBITDA Value-add	26.4	11.5	-56.4	105.5
Adjusted EBITDA Recurring Sales	21.8	9.1	-58.3	63.4
Adjusted EBITDA Development*	-4.5	-6.5	44.4	13.2
Adjusted EBITDA from discontinued operations	13.0	14.5	11.5	53.9
Adjusted EBT (continued operations)*	449.1	416.5	-7.3	1,866.2
Adjusted EBT (continued operations) per share in €**	0.56	0.51	-9.4	2.31
Adjusted EBT (continued operations) after minorities	421.5	375.2	-11.0	1,730.2
Adjusted EBT (continued operations) after minorities per share in €**	0.53	0.46	-13.0	2.12
Income from fair value adjustments of investment properties*	-3,612.2	–	-100.0	-10,651.2
Earnings before tax (EBT)*	-3,193.9	409.8	–	-9,185.2
Profit for the period	-2,088.1	335.5	–	-6,756.2
Operating Free Cash-Flow	404.0	501.0	24.0	1,414.8
Cash flow from operating activities	516.4	620.0	20.1	1,901.2
Cash flow from investing activities	-61.1	69.0	–	-825.9
Cash flow from financing activities	-460.3	-611.2	32.8	-961.0
Total Sum of Maintenance, Modernization, Portfolio Investments and New Construction	344.9	316.6	-8.2	1,484.5
thereof for maintenance measures*	168.9	161.0	-4.7	722.5
thereof for modernization & portfolio investments*	122.0	107.8	-11.6	470.8
thereof for new construction*	54.0	47.8	-11.5	291.2

Key Balance Sheet Figures/Financial Covenants in € million	Dec. 31, 2023	Mar. 31, 2024	Change in %

Fair value of the real estate portfolio	83,927.7	83,663.8	-0.3
EPRA NTA	38,140.9	38,062.9	-0.2
EPRA NTA per share in €***	46.82	46.72	-0.2
LTV (%)	47.3	46.9	-0.8
Net debt/EBITDA	15.6x	15.7x	0.1x
ICR	4.0x	3.8x	-0.2x

Non-financial Key Figures	3M 2023	3M 2024	Change in %	12M 2023

Number of units managed	618,951	613,306	-0.9	617,343
thereof own apartments	548,368	543,427	-0.9	545,919
thereof apartments owned by others	70,583	69,879	-1.0	71,424
Number of units bought	63	–	-100.0	63
Number of apartments sold	663	2,816	>100	3,838
thereof Recurring Sales	282	407	44.3	1,590
thereof Non Core/other	381	2,409	>100	2,248
Number of new apartments completed	779	845	8.5	2,425
thereof own apartments	675	153	-77.3	1,309
thereof apartments for sale	104	692	>100	1,116
Vacancy rate (in %)	2.2	2.2	–	2.0
Monthly in-place rent in €/m²	7.54	7.78	3.2	7.74
Organic rent increase (in %)	3.4	3.8	0.4 pp	3.8
Carbon intensity achieved in Germany (in kg CO₂e/m²)	33.0	31.7	-3.9	31.7
Number of employees (as of Mar. 31/Dec. 31)*	12,009	11,999	-0.1	11,977

*Previous year's values (2023) adjusted to current key figure and segment definition.
**Based on the weighted average number of shares carrying dividend rights.
***Based on the shares carrying dividend rights on the reporting date.