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Adjustment of the Conversion Price and Conversion Ratio for the Convertible Bonds of Deutsche Wohnen AG in the amount of EUR 400 million due on 8 September 2021
(ISIN DE000A12UDH7)

Frankfurt am Main / Berlin, 15 June 2015. The Conversion Price and Conversion Ratio for the Bonds have been adjusted as a result of the EUR 0.44 Cash Dividend per Share, in accordance with § 9(1)(d), § 9(2)(b) and § 9(3) of the terms and conditions of the Bonds. Pursuant to § 13 of the same, Deutsche Wohnen AG hereby gives notice that, effective 15 June 2015, the adjusted Conversion Price is EUR 21.4120 (previously: EUR 21.8549) and the adjusted Conversion Ratio is 4,670.2783 Shares per Bond (previously: 4,575.6329 Shares per Bond).

Deutsche Wohnen

Deutsche Wohnen is one of the largest publicly listed residential property companies in Germany and Europe with a business focus on managing and developing its portfolio, which focuses on residential properties. As at 31 March 2015 the portfolio comprised a total of 148,935 units, of which 146,850 are residential units and 2,085 commercial properties. Deutsche Wohnen is listed in the Deutsche Börse's MDAX and is also included in the leading indices EPRA/NAREIT and GPR 100.