Vonovia SE expands Management Board - Philip Grosse appointed as Chief Financial Officer; Helene von Roeder becomes head of new division Innovation and Digitalization

Bochum, 13. December 2021 - Following the successful conclusion of the Deutsche Wohnen takeover, the Supervisory Board of Vonovia SE has appointed Philip Grosse as Management Board Member from 1 January 2022. The Supervisory Board has also appointed Helene von Roeder, previously CFO of the company, as head of a new division called Innovation and Digitalization. Vonovia is thus expanding the Management Board from four to five members and implementing part of the Business Combination Agreement, concluded by Vonovia and Deutsche Wohnen as part of their Business combination. Arnd Fittkau and Daniel Riedl will continue to be responsible for their areas of responsibility on the Management Board.

Michael Zahn, CEO of Deutsche Wohnen SE, has decided not to accept the offer of the Supervisory Board of Vonovia SE to become the Vice Chair of the Management Board.

"By adding Philip Grosse to our management," says Jürgen Fitschen, Chair of the Supervisory Board, "we are gaining an experienced manager and specialist in the property industry. In her new role, Helene von Roeder will be looking after future issues relating to digitalization and innovation. This continued pooling of expertise is putting our Management Board in a superb position to conclude the Business combination with Deutsche Wohnen swiftly and to address the challenges of the housing industry in a joint effort. I really regret the decision of Michael Zahn not to accept the offer to become the Vice Chair of the Management Board. I wish him all the best and furthermore much success."

"I am pleased that the Business combination is picking up speed properly in the new year. I am confident that we - the Management Board and our entire workforce - will enable the two merged companies to grow into a powerful single force in the European property market. I would like to personally thank Michael Zahn for the constructive cooperation. I have great respect for his decision not to accept the offer to become the Vice Chair of the Management Board. I regret this decision very much," adds CEO Rolf Buch.

Philip Grosse has held leading positions with a focus on corporate finance and investor relations for the Deutsche Wohnen Group since 2013. He was appointed to the Management Board of Deutsche Wohnen on 1 September 2016. He had previously worked in investment banking in Frankfurt and London, his last position being that of Managing Director and Head of Equity Capitals Markets in Germany and Austria at Credit Suisse. He studied Business Administration in Würzburg and Swansea (Wales).

About Vonovia

Vonovia SE is Europe's leading private residential real estate company. Vonovia currently owns around 568,000 residential units (Deutsche Wohnen included) in all attractive cities and regions in Germany, Sweden and Austria. It also manages around 71,500 apartments. Its portfolio is worth approximately € 95.4 billion. As a modern service provider, Vonovia focuses on customer orientation and tenant satisfaction. Offering tenants affordable, attractive and livable homes is a prerequisite for the company's successful development. Therefore, Vonovia makes long-term investments in the maintenance, modernization and senior-friendly conversion of its properties. The company is also creating more and more new apartments by realizing infill developments and adding to existing buildings.

The company, which is based in Bochum, has been listed on the stock exchange since 2013. Since September 2015 Vonovia has been a constituent in the DAX 30 (today DAX 40) and since September 2020 in the EURO STOXX 50. Vonovia SE is also a constituent of additional national and international indices, including DAX 50 ESG, Dow Jones Sustainability Index Europe, STOXX Global ESG Leaders, EURO STOXX ESG Leaders 50, STOXX Europe ESG Leaders 50, FTSE EPRA/NAREIT Developed Europe, and GPR 250 World. Vonovia has a workforce of more than 16,000 employees (Deutsche Wohnen included).

Additional Information:
Approval: Regulated Market/Prime Standard, Frankfurt Stock Exchange
ISIN: DE000A1ML7J1
WKN: A1ML7J
Common code: 094567408
Registered headquarters of Vonovia SE: Bochum, Germany, Bochum Local Court, HRB 16879
Business address of Vonovia SE: Universitaetsstrasse 133, 44803 Bochum, Germany

This press release has been issued by Vonovia SE and/or its subsidiaries solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of Vonovia ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from Vonovia's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by Vonovia and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should not therefore be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. Vonovia accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. Vonovia does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. Vonovia is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release.