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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 250 million due on 22 November 2020
(ISIN DE000A1YCR02)

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 17.7877 (previously: EUR 18.1556) and the adjusted Conversion Ratio is 5,621.8623 Shares per Bond (previously: 5,507.9425 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.