SBM-2 – Interests and Views of Stakeholders

Our company is in close contact with numerous, and in terms of their interests, very different stakeholder groups. Particularly important stakeholder groups, other than our tenants/customers (and those representing them), include our own employees, shareholders and analysts, policymakers and administrative bodies, suppliers and service providers – particularly from the construction industry – as well as society and the natural environment.

Stakeholders are involved using specific formats, depending on the group concerned, such as quarterly customer surveys and annual employee surveys, dialogue sessions with tenant representatives, local administrative bodies, policymakers as well as memberships in industry associations. These external perspectives are incorporated into the materiality assessment on a regular basis. Please refer to S1-2 for information on how we involve our employees and their representatives.

Our main interface for dialogue with our stakeholders is our Corporate Communications department. It is directly available for stakeholders every day and ensures a uniform internal and external presentation. The Public Affairs department within Corporate Communications maintains connections with politicians and stakeholders. This department is responsible for analyzing who our material stakeholders are, and updating the analysis annually. As part of this process, it takes into account the interests of the key stakeholders, their positioning in the strategy and the business model. In addition, our departments or the local employees working in operations in the neighborhoods react to specific and target Group-related communication occasions and engage in dialogue with our stakeholders. This allows us to meet the needs and fulfill the demands of our stakeholders. For instance, the Procurement department handles communication with suppliers and service providers, while the Investor Relations department is responsible for dialogue with shareholders and analysts.

When designing our development and neighborhood development projects, engagement is also fostered by the provision of information at an early stage, as well as by opportunities to actively participate in the development process. Within this context, we first of all adhere to the statutory requirements for civic participation in development planning and, second, use various voluntary participatory processes to take into account the interests of the parties involved and ensure the necessary transparency.

Our quarterly customer surveys allow us to ask our tenants about their concerns and tailor our measures to the needs of specific neighborhoods or regions. We also provide information on topics relevant to our customers on our website and via the customer app.

The interests and viewpoints of our major stakeholders were analyzed and evaluated at a general level as part of the materiality assessment, for example the interests of the German Tenants’ Association. Interests and viewpoints at local level may differ from these. The local participation processes can be used to help us address these different interests and – in line with our strategy and business model – translate them into measures.

This process is not designed to result in any changes to our strategy and/or business model, as the participation processes are suitable for addressing and taking into account the interests of local stakeholders in the context of the existing strategy/business model.

The Strategy, Finance and Sustainability Committee of the Supervisory Board advises the Management Board on the sustainability strategy. This committee, which met 11 times in 2025, provides the entire Supervisory Board and the Management Board with information on the interests and views of the stakeholders concerned.

Topical Disclosures on SBM-2

ESRS S1 – Own Workforce

For details on how the interests, views and rights of our employees inform our strategy and business model, please refer to S1-1 and S1-2. Our Group-wide employee satisfaction survey and our individual and team-based feedback formats give our employees the opportunity to feed individual suggestions on relevant working areas and conditions back to their employer. Core aspects of the feedback are taken into account systematically in the enhancement of Vonovia’s HR strategy.

ESRS S4 – Consumers and End-Users

Our customers make up one of our major stakeholder groups. Their concerns, interests and viewpoints as well as respect for their (human) rights are a central component of our strategic focus. These rights are already covered and protected to a considerable degree by the legal framework in the markets in which we operate (Germany, Austria and Sweden). For details on how the interests, views and rights of consumers and end-users inform our strategy and business model, please refer to S4-1 and S4-2.

Their interests and views are incorporated into our strategy and the direction of our business model through regular customer surveys and dialogue with tenant representative bodies, tenants’ associations and consumer protection centers. On a local scale, we also actively involve customers in the design of our neighborhoods via participation processes if need be. We use this feedback to develop corresponding services and measures for our (potential) customers.