Shareholder Structure and Annual General Meeting

Shareholder Structure

Major Shareholders (as of December 31, 2017)

Major Shareholders (as of December 31, 2017) (pie chart)

Based on the German stock exchange’s definition of free float, only the interest held by Norges Bank (Ministry of Finance on behalf of the State of Norway) does not count towards the free float. This means that 92.7% of Vonovia’s shares were in free float on December 31, 2017. In line with Vonovia’s long-term strategic focus, the majority of its investors have a similarly long-term focus. The company’s investors include pension funds, sovereign wealth funds and international asset managers. There is also a large number of individual shareholders.

2017 Annual General Meeting

The Annual General Meeting of Vonovia SE was held in Bochum on May 16, 2017; 66.88% of the share capital was represented. In the presence of around 350 guests and shareholders, all of the agenda items were carried by a large majority, including the proposal to distribute a dividend of € 1.12 per share for the 2016 fiscal year. This corresponds to an increase of 19% year-on-year and to a dividend yield of 3.6% based on the closing price of € 30.91 on the reporting date of December 31, 2016. The cash dividend for the 2016 fiscal year was paid out from a contribution account for tax purposes. It was therefore paid out to shareholders without capital gains tax or the solidarity surcharge being deducted. Vonovia also offered a stock dividend as an alternative option to a cash dividend for the first time. This meant that every shareholder had the choice of receiving the dividend in cash or opting for the receipt of new shares in order to benefit more strongly from the future increase in value of the company. During the subscription period, 49.86% of shareholders opted for the stock dividend as opposed to the cash dividend. As proposed, the Annual General Meeting also resolved to replenish authorized capital. Doing so will fully ensure the continued financial flexibility of the company by comprehensively strengthening the equity of the company, as needed. In 2018, Vonovia also plans to move into the new corporate headquarters in Bochum. In connection with this, the Annual General Meeting approved the move of the registered office and the related shift to the Bochum local court as the responsible registry court.