EQS-Adhoc: Vonovia SE: Dividend proposal and change in dividend policy

Dividend proposal and change in dividend policy

Bochum, 14 March 2024

The Management Board and Supervisory Board of Vonovia SE (Company) have resolved to propose a dividend of EUR 0.90 per share for the 2023 fiscal year to the Company's Annual General Meeting. This amount corresponds to a distribution of 43% of the Group FFO (after minorities) and is around 6 % higher than the dividend for the 2022 financial year.

In agreement with the Supervisory Board, the Executive Board has also decided to change the dividend policy. In future, and thus for the first time for the dividend decision for the 2024 financial year, the dividend proposal will no longer be based on the Group FFO (after minorities), but on the Adj. EBT plus excess liquidity from the operating free cash flow (OFCF). The aim is an annual distribution of 50 % of Adj. EBT plus surplus liquidity, calculated as the 3-year average of the OFCF after deduction of the equity portion for the yielding investment programme.

The Company's Management Board is convinced that the new dividend policy will lead to an appropriate shareholder participation in the core business and at the same time enable stable internal financing of the yielding investment programme.

The definitions of the key financial figures used in this release are taken from Vonovia's annual report for the 2023 financial year.

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Forward-looking statements contained in this release are not statements of fact and are characterised by the words "expect", "believe", "estimate", "intend", "aim", "assume" and similar expressions. These statements express the intentions, opinions or current expectations and assumptions of Vonovia SE. Such forward-looking statements are based on current plans, estimates and forecasts that Vonovia SE has made to the best of its knowledge, but make no statement as to their If forward-looking statements are contained in this document, they do not represent facts and are characterised by the words "will", "expect", "believe", "estimate", "intend", "aim", "assume" and similar expressions. These statements express the intentions, opinions or current expectations and assumptions of Vonovia SE. Such forward-looking statements are based on current plans, estimates and forecasts that Vonovia SE has made to the best of its knowledge, but make no statement as to their future accuracy (this applies in particular to matters that are beyond Vonovia SE's control). Forward-looking statements are subject to risks and uncertainties that are difficult to predict and are usually beyond Vonovia SE's control. It should be noted that actual future results or outcomes may differ materially from those expressed or implied by such forward-looking statements. It cannot be ruled out that Vonovia SE will change its intentions and estimates as expressed in documents or communications after publication.

1859359  14-March-2024 CET/CEST