Analyst and Investor Day

Vonovia’s ninth Analyst and Investor Day was held as a purely face-to-face event in Bochum on July 1, 2025. Focusing on the update regarding Vonovia’s non-rental growth strategies, our international analysts and investors participated in three deep-dive breakout sessions on the topics of development, serial modernization and heat pump cubes. The event was rounded off with a property tour in Bochum. The presentations held at the Analyst & Investor Day can be downloaded online on the Investor Relations website.

Investor Relations Activities

In 2025, Vonovia participated in a total of 35 investors’ conference days and also organized 33 roadshow days. In addition, Vonovia took part in various investor forums and numerous one-on-one meetings with investors and analysts to keep them informed of current developments and special issues. In 2025, we held several hundred talks with analysts and investors. The dominant topics included the company’s strategic growth initiatives, capital allocation, the capital structure and transaction activity on the residential real estate market.

As part of the investor dialogue, the Chair of the Supervisory Board conducts an annual corporate governance roadshow spanning several days, in particular addressing topics specific to the Supervisory Board, such as Management Board remuneration and the work and composition of the Supervisory Board and the relevant committees. In 2025, for example, the Chair of the Supervisory Board, Clara-Christina Streit, engaged in intensive dialogue with investors in the context of one of these roadshows.

We will also continue to communicate openly with the capital markets in 2026. Various roadshows, conferences and investor forums have already been planned andinformation can be found in the Financial Calendar on our Investor Relations website.

A detailed description of our other stakeholders is available in the Stakeholder reporting.

Positive Analyst Assessments

As of December 31, 2025, 23 analysts were publishing studies on Vonovia on a regular basis. The average target price at the end of the year was € 34.39 per share. with 61% of analysts issuing a “buy” recommendation, 17% issuing a “hold” recommendation and 22% issuing a “sell” recommendation.

For information on the research firms that regularly report on Vonovia and value its shares, please visit our Investor Relations website.

Dividend

The Management Board and the Supervisory Board propose to the Annual General Meeting that, of the profit of Vonovia SE for the 2025 fiscal year of € 1,125,000,000.00, an amount of € 1,060,270,481.25 on the 848,216,385 shares of the share capital as of December 31, 2025 (corresponding to € 1.25 per share) be paid as a dividend to the shareholders, and that the remaining amount of € 64,729,518.75 be carried forward to the new account or be used for other dividends on shares carrying dividend rights at the time of the Annual General Meeting and which go beyond those as of December 31, 2025.