DEMIRE Deutsche Mittelstand Real Estate : EPRA Sustainability Report 2024/2025

Published: 2025-06-26 01:56:06 ET DMRE.DE

Published on 06/26/2025 at 01:56

‌SUSTAINABILITY REPORT 24/25

IN ACCORDANCE WITH EPRA sBPR

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FOREWORD BY THE EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

We are happy to report that we made important progress on our path to increased sustainability in the past year. Some developments are already clear to see today, while others are happening behind the scenes - though they are equally important for our long-term goals. Often these are fundamental preparatory activities that are necessary in order to successfully implement larger measures. An example of this is the expansion of our e-charging infrastructure, for which extensive preparation work is currently being carried out before the installation of charging stations for our tenants and users begins.

After the successful focus on reducing the Company's own emissions - with an impressive 40% reduction since 2022 - the focus in 2024 was particularly on expanding our data sets. By integrating 14 additional properties into our data collection, we were able to increase the data coverage to 76% of our portfolio. We also began rooting data collection more firmly in our internal practices. This not only improves the quality of our data but also creates a foundation for more targeted steering of our sustainability measures.

In addition to this improved transparency, we were also able to achieve initial operational successes in reducing the emissions of our properties. We were able, for example, to achieve considerable savings in energy consumption and carbon emissions by optimising building technology in Rostock. We are also successively shifting the general electricity of our properties to green electricity, a process that is expected to be completed by the third quarter of 2025.

The Executive Board of DEMIRE Deutsche Mittelstand Real Estate AG:

Tim Brückner, Chief Financial Officer (left), Frank Nickel, Chief Executive Officer (centre) and

Ralf Bongers, Executive Board Member for Transactions (right)

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

At the strategic level, we carried out a materiality assessment in line with the EU Corporate Sustainability Reporting Directive (CSRD) in the past year. While the legal conditions changed at the beginning of 2025 and DEMIRE is no longer required to publish a report, and further developments in this regard remain to be seen, we do not consider the foundations we have laid to have been in vain. On the contrary: they are an important building block for the continued development of our sustainability strategy.

At DEMIRE, we firmly support the goals of the Paris Agreement. It is our aim to bring the carbon emissions of our portfolio in line with these stipulations in the long term - and to document this path transparently.

We hope reading our sustainability report is informative and inspiring for you, and look forward to engaging in further dialogue with you.

Frank Nickel (CEO)

Tim Brückner (CFO)

Ralf Bongers

(Executive Board Member

for Transactions)

Frankfurt am Main, Germany, June 2025

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

DEMIRE Deutsche Mittelstand Real Estate AG acquires and holds commercial real estate in regional centres, medium-sized cities and up-and-coming regions bordering metropolitan areas across Germany. It focuses on office properties, with retail and hotel properties also featured in the portfolio. In such cases, the quality of the property, together with the location, is a material investment criterion. The portfolio has potential for real estate investments and is attractive both to international and regional tenants.

As at 31 December 2024, DEMIRE managed 51 properties with lettable floor space of around 603,500 m² and a total market value of around EUR 779.3 million. The Cielo property in Frankfurt is accounted for using the equity method, so is not included in these property-specific figures.

We offer our international and regional tenants state-of-the-art, functional properties for long-term use. Sustainability is part of DEMIRE's corporate strategy. The Company is committed to the climate goals of the Paris Agreement and is endeavouring to reduce the carbon emissions of its business activities as part of the Com-pany's sustainable transformation.

DEMIRE has been reporting on sustainability since the 2021 financial year. With this report, the Company provides an overview of its environmental, social and governance (ESG) activities in the 2024 financial year. On this basis, DEMIRE has defined steps to help it make progress in this area in the coming years, both holisti-cally and strategically. This includes, among other things, continuing to increase the recording of consumer data in properties and developing specific plans of action for reducing CO₂ for each property on this basis.

For the fourth time, this Sustainability Report sees DEMIRE apply the Sustainability Best Practices Recommendations (sBPR) of the European Public Real Estate Association (EPRA), as the interest group representing Europe's listed real estate companies. Unless otherwise stated, the data and information provided refer to the reporting date of 31 December 2024 and the data available up to that date. The EPRA Report contains the recommendations as well as explanatory information on the indicators and tables containing the key sustainability figures.

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

Following the publication of the first sustainability report in summer 2022, including the first inventory of emissions, DEMIRE set up an interdepartmental working group overseen by the Executive Board to incorporate environment-related sustainability into its business processes as a fixed component of the strategic corporate management. The various departments worked together to set a sustainability target with a package of measures which is gradually being implemented. An ESG project plan ensures the specific implementation of the sub-targets with clear responsibilities and proposed measures.

The sustainability target pursued by DEMIRE takes the form of a significant reduction in the emission of greenhouse gases for DEMIRE's business activities as a whole. The aim is therefore to adhere to the climate targets laid out in the Paris Agreement, which limit global warming to 1.5°C to 2°C.

In order to achieve climate targets, we consider every single property in our portfolio individually to enable us to plan and implement effective, efficient measures. The inventory of emissions and data measurement for a property-specific analyses of carbon emissions is carried out using the basis of calculation of the Carbon Risk Real Estate Monitor Initiative (CRREM), an established industry standard. CRREM has published pathways for decarbonisation that translate the target of limiting global warming to 1.5°C by the end of the century into regional and property-specif-ic pathways along which property investments and portfolios can be measured. We plan to evaluate the decarbonisation of our portfolio using this methodology as well. This should allow measures for energy efficiency to be developed, taking into consideration economic aspects, the state of the building and tenant needs.

In 2024, we carried out a materiality assessment in accordance with the stipulations of the EU Corporate Sustainability Reporting Directive (CSRD), which were applicable at the time. Following the postponement of reporting requirements for companies such as DEMIRE, which was decided at EU level at the beginning of 2025, we nevertheless intend to further increase the level of transparency in our sustainability reporting, but will initially focus our resources more strongly on implementing carbon reductions in our portfolio. The insight gained from the CSRD materiality assessment proved to be helpful in orienting our further steps in reducing carbon in our property inventory.

The greatest lever for quickly reducing GHG emissions was identified as the electronic gathering of usage data using smart meters throughout the portfolio. This can lead to significant reduction opportunities in terms of costs and carbon emissions through optimisations in the systems. We have already carried out technical optimisations at the first group of properties in the portfolio following the evaluation of measured data, which has reduced emissions.

We have put out a new tender for green electricity for the general electricity of roughly 70% of our portfolio and have concluded a new framework agreement for this. For the remaining 30% of the portfolio, this will be implemented in the third quarter of 2025.

Some of our properties already have charging stations for tenants' electric vehicles. We have made the decision to develop a concept for the entire portfolio and will provide a larger offering of charging stations for our tenants.

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

Another key milestone in the collection of all consumption data for our properties is increasing the collection of data on the energy used directly by our tenants, such as electricity consumption in rental spaces. To enable us to record this consumption comprehensively in future, we have produced a "green lease", which generally forms the basis for all new leases and is included as a clause in our model leases. The population of consumption data collected will therefore increase significantly in future.

The Company's own carbon emissions result from the direct business activities of DEMIRE. They are not related to our portfolio or tenant consumption and can therefore be influenced directly through our actions. As well as significantly reducing the Company's emissions, our strategy is to ensure transparent data collection. To achieve this, in 2023 we started switching our office over to environmentally friendly energy sources and have shifted to rail travel whenever possible for commuting and business travel. Flights have been limited to the bare necessity. After significant savings directly after the implementation of these measures, greater reductions in the Company's own emissions are not to be anticipated in the short term, though we are continuing to assess additional opportunities to reduce carbon emissions. The measures that have been carried out so far have allowed us to reduce our carbon emissions by 40% since 2022. Detailed information can be found in the chapter

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

As at the reporting date of 31 December 2024, the Core Portfolio comprised 51 commercial properties with a total lettable floor space of around 603,500 m². This corresponds to 100% of the directly held portfolio. The market value of the portfolio without Cielo totalled EUR 779.3 million (previous year: EUR 1,075.6 million). Office properties accounted for the largest share of this portfolio in terms of market value, at around 63% (previous year: 59%). Retail properties account for approximately 29% (previous year: 26%). Around 8% of the portfolio is made up of other properties (previous year: 15%).

The report for 2024 relates to a total of 39 properties in the portfolio, including the joint venture Cielo as an equity-accounted investment with a market value of EUR

781.9 million (previous year: 31 properties with a market value of EUR 736.8 million) for a portfolio which is consistent as at 31 December 2024 and for which complete data is available for the three-year period (2022 to 2024). The reported portfolio decreased year-on-year due to the sale of six properties. As a result of this, as of this year there are no longer any logistics properties in the DEMIRE portfolio. At the same time, fourteen properties were added to the report, meaning that the figures from the previous year's report cannot be compared directly. Under consideration of the market value, data was collected for 75.5% of the directly held portfolio (previous year: 68.5%). The data will gradually be expanded for other properties in the portfolio in the coming years. This data will be included in subsequent reports once the data set is complete for a period of three consecutive years.

Property disposals mean that there have been changes in the property portfolio for the years from 2022 to 2024, on which the analysis is based, so the floor space of the examined portfolio has also changed. This means that there are also differences between the "absolute" and the "like-for-like" figures in this report.

The social indicators are based on the data of 28 employees who worked at DEMIRE in 2024 (previous year: 33). In line with IFRS reporting standards, the term "employ-ees" includes all members of staff, not including students, apprentices, interns and members of the Executive Board (CEO, CFO, CIO).

All consumption data for the properties for 2022, 2023 and 2024 is based on statements or data provided (annual consumption tables, load profiles, etc.) which DEMIRE has received from the utility companies/network operators or from verified meter readings taken by property managers.

DEMIRE does not have direct access to consumption data for single-tenant properties or operator-run properties. The data provided by tenants/operators is used in this case whenever available.

DEMIRE has opted to use actual values in the analyses where possible. Estimates of consumer data are therefore only made to a limited extent. Under electricity consumption (Elec-Abs, Elec-LfL), the general electricity for the property in Wismar in 2024 was estimated. Total energy consumption (Fuel-Abs, Fuel-LfL) for 2024 in Bad Segeberg is derived through estimates. In Darmstadt, water consumption (Water-Abs, Water-LfL) was estimated. Data on waste disposal (Waste-Abs, Waste-LfL) - especially for communal disposal companies - is calculated using the volume of the waste bins and disposal schedules. As a result, average values are provided. Figures for generated waste (Waste-Abs, Waste-LfL) were supplemented through estimates for roughly 19% of the properties.

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

The data for waste disposal was recorded using different methodology this year. Because of this, a new category was introduced for "other disposal channels" for the 2024 reporting year.

Only property data over which DEMIRE has full operational control as a company has been included in the report.

The consumption data shown only includes the utilities (energy, water and waste) that DEMIRE, as the landlord, had purchased as at the reporting date of 31 December 2024. For electricity consumption (Elec-Abs, Elec-LfL), only the general electricity of the buildings was evaluated, not tenant data. The energy and water consumption relates, in each case, to the entire building and includes use by tenants where appropriate. The waste data refers to tenant and landlord waste, as DEMIRE as the landlord is generally responsible for disposing of waste for the property as a whole.

As the calculated energy intensity is based on the general electricity values, among other things, the properties without data on general electricity were excluded for its determination, as these are single-tenant properties. The three properties in Bad Segeberg, Langenfeld and Goslar are an exception. These are multi-tenant properties, but the electricity is still supplied entirely by the tenants.

The carbon intensity results from the sum of direct and indirect greenhouse gas emissions (GHG emissions) divided by the area in question. Properties for which there are neither any direct or indirect GHG emissions are not included in the calculation. In the 2024 reporting year, this related to the properties at Chemnitz, Heinrich-Lorenz-Str. 35 and Frankfurt, Theodor-Heuss-Allee 100-104.

Absolute key performance indicators (Abs) for environmental data consist of the total consumption attributed to the building portfolio for the entire reporting period. The absolute KPIs for social data also include the total number of employees for the entire reporting period.

Like-for-like (LfL) key performance indicators complement the absolute KPIs. They make it easier to compare the consumption data for a portfolio of the same size from the last two reporting periods. Reporting on a like-for-like basis is a more effective way of demonstrating a change in performance which is not influenced by the size of a portfolio (through acquisitions, sales and renovations). Like-for-like KPIs are not used for social indicators; for better comparability, the absolute figures from the last two reporting periods are provided instead.

Intensity indicators (Int) for environmental data indicate the level of consumption per unit of a suitable denominator. The typical denominator for office buildings is "per lettable space". The main denominator for indicators of building intensity is "per rental space".

The denominator for consumption in respect of office spaces used by DEMIRE is "per total number of employees" for the reporting period. The denominator for greenhouse gas emissions is also "per total number of employees". Likewise, the denominator for social data is "per total/average number of employees".

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

The intensity ratios (Energy-Int, GHG-Int and Water-Int) are calculated based on the underlying lettable space (m²). Using lettable space as a reference value ensures that the development of consumption data is calculated per unit of area, ensuring that the data allows for comparability.

In accordance with the operational approach taken in the GHG Protocol standards, we divide our carbon emissions into three categories:

Scope 1 emissions: Direct emissions (Dir) resulting from our Company's vehicles and gas heating in our business premises.

Scope 2 emissions: Indirect emissions (Indir) resulting from electricity consumption in the communal areas of our multi-tenant buildings as well as from electricity and heating consumption in our Company's offices.

Scope 3 emissions: Indirect emissions (Indir) resulting from business trips, employee commutes, construction work and energy consumption in tenant areas.

There are two available methods for calculating Scope 2 and 3 emissions. In the location-based method, data on the average emission factor of the electricity grid is mainly used, while in the market-based method, electricity which the Company has made a conscious decision to purchase is used (e.g. procurement of renewable energy).

For our GHG accounting for 2024, we used the latest available conversion factor from the German Environment Agency, "Climate Change | 15/2022" ("Klimawandel

| 15/2022"), published in May 2022, and "German Environment Agency - Carbon Dioxide Emission Factors for German Reporting on Atmospheric Emissions" ("Um-weltbundesamt - Kohlendioxid-Emissionsfaktoren für die deutsche Bericht-erstattung atmosphärischer Emissionen"), published in March 2020. Emissions from the German electricity mix are based on "German Environment Agency, Development of Specific Greenhouse Gas Emissions from the German Electricity Mix from 1990 to 2024" ("Umweltbundesamt, Entwicklung der spezifischen Treibhaus-gas-Emissionen des deutschen Strommix in den Jahren 1990-2024"). Due to a lack of current emissions data, the figures from 2022 were used for the 2024 reporting year, with the exception of the emissions of the German energy mix. For emissions from transport, we used the online CO₂ calculator provided by the German Environment Agency. The conversion factors used are as follows:

Electricity grid mix, Germany - 2022: 0.433 kg/kWh; 2023: 0.386 kg/kWh; 2024:

0.363 kg/kWh (change: -16.2%)

Natural heating gas mix, Germany - 2022: 0.241 kg/kWh; 2023: 0.241 kg/kWh; 2024: 0.241 kg/kWh (change: 0.0% / no new data available)

Heating with light heating oil, Germany - 2022: 0.313 kg/kWh; 2023: 0.313 kg/ kWh; 2024: 0.313 kg/kWh (change: 0.0% / no new data available)

District heating mix, Germany - 2022: 0.299 kg/kWh; 2023: 0.299 kg/kWh; 2024:

0.299 kg/kWh (change: 0.0% / no new data available)

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

The key figures on health and safety at work are calculated using the following formulas:

Injury rate = number of reportable injuries/total number of hours worked

Lost day rate = number of days lost due to injury at work (three days or more)/ total number of hours worked

Absentee rate = number of absence days due to illness/total number of days worked

The segment analysis was performed based on the Company's various asset classes: office, retail, logistics and other. Due to the size of the portfolio and because DEMIRE's real estate portfolio is located exclusively in Germany, no geographical segmentation has been performed.

The environmental figures for office spaces used by the Company are listed separately. As DEMIRE rents an office in its own portfolio, the consumption is also included in the portfolio data, which means that the environmental indicators for the Company's own offices should be seen as part of the property portfolio.

The sustainability data set out in this EPRA Report was collected internally as well as by external service providers, and was checked by DEMIRE for consistency (dual control principle). In addition, as in the previous year, the data from the 2024 reporting period was subjected to third-party assurance. Ernst & Young Real Estate was engaged for this task.

FOREWORD BY THE‌

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

Total energy consumption per unit of area (Energy-Int) increased by 23.8% in 2024 from 100 kWh/m² to 124 kWh/m². The increase is due in particular to the change in the portfolio base and thus to a change in the population. Like-for-like electricity consumption (Elec-LfL), however, decreased by 6.9% from 6.597 million kWh to

6.139 million kWh. The decline in general electricity reported here reflects the gradual switch to LED lighting. Consumption of district heating and cooling (DH&C-LfL) decreased by 1.9% compared with the previous year from 16.778 million kWh to

16.453 million kWh, while fuel consumption (Fuels-LfL) increased by 8.5% from 14.706 million kWh to 15.957 million kWh. The change in energy consumption can be explained by changes in user behaviour.

As a result, Scope 1 emissions (GHG-Dir-Abs) increased by 40.5% from 3,552 t CO₂ to 4,989 t CO₂. This strong growth is due to increased fuel consumption (Fuels-LfL). Scope 2 emissions (GHG-Indir-Abs), on the other hand, fell by 12.5% from 2,547 t CO2to 2,228 t CO2, which is related to lower electricity consumption and reduced carbon emissions from the German electricity mix. In terms of the unit of area, and due to higher fuel consumption (Fuel-LfL), total Scope 1 and 2 emissions (GHG-Int) per tonne of CO₂/m²/year increased by 20.6% from 0.0138 t CO₂/m² to 0.0166 t CO₂/m².

Absolute water consumption (Water-Abs) decreased across the entire portfolio by 25.2% from 171,054 m³ to 128,004 m³. The significant decrease in absolute water consumption (Water-Abs) is due to the sale of properties. Water consumption on a comparable portfolio basis (Water-LfL) decreased by 0.5% year-on-year from 128,597 m³ to 128,004 m³ in 2024 and was thus almost stable. In terms of total floor space, water consumption per square metre (Water-Int) came to 0.39 m³/m² in

2024, an increase of 11.5% over the previous year. The increase is mainly due to higher consumption as a result of higher capacity utilisation at the hotels (Others segment). By contrast, water consumption at DEMIRE's office properties fell due to the ongoing fitting of water-saving sanitary facilities. All of the water consumed in DEMIRE's properties comes from the municipal supply.

The total weight of waste in the portfolio (Waste-LfL) on a comparable basis increased by 10.0% from 1,454 t to 1,600 t between 2023 and 2024. In accordance with German waste regulations, no waste was disposed in landfills. 793 t (49.6%) of the waste was incinerated for energy production (previous year: 676 t, 46.6%), 141 t (8.8%) was composted (previous year: 245 t, 16.9%) and 596 t (37.3%) was recycled (previous year: 529 t, 36.5%) and 70 t (4.4%) was disposed of via other channels (previous year: n/a). The absolute total weight of waste (Waste-Abs), not based on a comparable portfolio, was 1,600 t in the 2024 reporting year (previous year: 1,973 t). The decline in the volume of waste is due to the sale of properties in the portfolio. In terms of the absolute volume of waste (Waste-Abs), 793 t (49.6%) of the waste was incinerated (previous year: 1,064 t, 54.1%), 141 t (8.8%) was composted (previ-

ous year: 280 t, 14.2%), 596 t (37.3%) was recycled (previous year: 624 t, 31.7%) and 70 t (4.4%) was disposed of via other channels (previous year: n/a). DEMIRE has not identified any hazardous waste and therefore does not report on it. Waste sorting is made available to all tenants, which means that waste can be recycled when possible and sensible. The increase in the total weight of waste in the portfolio (Waste-LfL) is due to a higher volume of waste from office properties as a result of increased office utilisation.

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

In future, the Company will examine whether its properties can be certified. Actual CO₂ reductions will continue to be prioritised over potential certification and the associated compensation.

As in previous years, we separately evaluated the EPRA environmental indicators for the office spaces that we ourselves use (Scope 1 and 2) and, at the same time, recorded our corporate emissions from business activities (Scope 1 and 3).

Scope 1 includes direct emissions from the generation of heating and cooling for the office spaces that we ourselves use and from the Company's own vehicle fleet. Scope 2 comprises the indirect emissions from electricity consumption for the office spaces that we ourselves use as well as the proportion of general electricity used by our office. The values therefore differ from the electricity consumption reported for the portfolio, which currently do not include all electricity used by tenants. Scope 2 also includes water consumption. Scope 3 covers indirect emissions from business trips, employees' journeys to and from work, and the waste generated by our office.

DEMIRE occupies an office space of 1,276 m² (previous year: 1,276 m²) located in a property of the subsidiary Fair Value REIT-AG in Langen. The property is also part of the evaluation of the office portfolio in this report. As at the reporting date of 31 December 2024, DEMIRE employs 28 employees in total (previous year: 33).

All carbon emissions are calculated using the location-based method. This means that primarily data on the average emissions in the grid is used (see the

For 2024, we recorded our Company's Scope 1, 2 and 3 emissions at a total of 58.9 t CO₂ (previous year: 59.7 t CO₂). We arranged for this data to be offset in full via atmosfair. We therefore achieved a carbon-neutral status in the 2024 calendar year. We are aware of the fact that our Company's actual carbon emissions need to be reduced further and that compensation models will only have limited scope in the medium to long term. Carbon emissions decreased by 1.4% compared to the

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

previous year. On the one hand, shifting the entire fleet of company vehicles to hybrid electric vehicles led to significant savings in carbon emissions, and electricity consumption also decreased significantly. On the other hand, carbon emissions from commuting increased, which is the result of a change in the methodology of the CO2calculator provided by the German Environment Agency. Overall, the 40% decrease since 2022 is striking evidence of how significant savings can be achieved even with low-investment measures and by changing everyday actions in the workplace. It continues to be our goal in the coming years to achieve further savings and to follow the climate path laid out by Germany to adhere to the Paris Agreement.

ENERGY AND ELECTRICITY CONSUMPTION

Total energy consumption per unit of area (Energy-Int) for the DEMIRE office decreased by -7.3% in 2024 from 112 kWh to 104 kWh. Total electricity consumption (Elec-Abs) decreased by 16.2% from 50,231 kWh to 42,091 kWh. The decreased use of electricity is likely the result of less cooling required in the comparably cooler summer of 2024. At the same time, the ongoing replacement of lighting fixtures should have a positive impact.

District heating and cooling (DH&C-LfL) were not used. Fuel consumption (Fuels-Abs) decreased slightly by 2.2% from 92,349 kWh to 90,331 kWh.

As a result, Scope 1 emissions (GHG-Dir-Abs) decreased by 2.2% from 22.3 t CO₂ to

21.8 t CO₂. Scope 2 emissions (GHG-Indir-Abs) decreased by 16.2% from 21.8 t CO₂ to 18.3 t CO₂. In terms of the unit of area, total Scope 1 and 2 emissions (GHG-Int) per tonne of CO₂/m²/year remained stable at 0.035 t CO₂.

COOLING REFRIGERANTS

As in the previous year, no refrigerants needed to be replaced in the air conditioning systems, which meant that there were no carbon emissions for refrigerants.

WATER

Water consumption (Water-Abs) in 2024 increased by 18.5% in the office that DEMIRE itself uses, from 126 m³ to 149 m³ compared with the previous year. In terms of total floor space, water consumption per m² (Water-Int) came to 0.12 m³/m² in 2024, compared with 0.10 m³/m² in the previous year (18.5%). The increase is due to employees of DEMIRE using the offices more frequently. All of the water consumed in DEMIRE's properties comes from the municipal supply. Water-saving devices will be fitted when refurbishing sanitation facilities in future.

COMPANY VEHICLE FLEET

Around 67,736 km was travelled in company cars (previous year: 59,220 km) in 2024, emitting 7.7 t CO₂ (previous year: 9.3 t CO₂). The decrease in emissions despite increased vehicle use is the result of the transition of all vehicles to hybrid electric drive systems. Long distances are travelled using low-emission trains wherever possible.

WASTE MANAGEMENT

The total weight of waste in the portfolio (Waste-Abs) for which DEMIRE collected data increased by 16.3% from 3.1 t to 3.6 t between 2023 and 2024. The increase can be explained by the fact that employees use the office more frequently.

In line with German waste regulations, no waste is sent to landfill sites: 2.0 t or 56.6% of the waste was incinerated for energy recovery (previous year: 1.9 t; 62.1%),

0.4 t or 11.5% was composted (previous year: 0.4 t; 13.4%) and 1.0 t or 26.7% of waste was reused (previous year: 0.8 t; 24.6%). Other disposal channels accounted for 0.2 t or 5.2% (previous year: n/a). No hazardous waste was generated.

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

BUSINESS TRIPS

Around 32,593 km was travelled in company cars (previous year: 53,458 km) for business trips in 2024, emitting 2.2 t CO₂ (previous year: 2.5 t CO₂). The decrease in distance travelled is due to a reduction in air and rail travel. The decrease in rail travel is not reflected in the carbon emissions as rail travel with Deutsche Bahn is considered to be carbon-free. DEMIRE continues to avoid business travel by air or car wherever possible, preferring travel by public transport.

COMMUTING

Commutes amounted to around 278,334 km in 2024 (previous year: 278,422 km), emitting 22.1 t CO₂ (previous year: 18.6 t CO₂). The increase in carbon emissions is largely the result of a change in the methodology of the CO2calculator provided by the German Environment Agency and is therefore solely due to methodological factors.

To permanently reduce journeys to and from work, employees are given the option to work from home at least two days per week.

The social indicators cover all employees of DEMIRE. Where "DEMIRE" is used below, this should be understood to mean the DEMIRE Group, which, as at the reporting date of 31 December 2024, has 28 employees, not including the Executive Board (previous year: 33).

DEMIRE promotes an inclusive work environment and an open work culture in which individual differences are respected, valued and encouraged. This is laid down in the DEMIRE Code of Conduct, which prohibits any form of discrimination. The Company is committed to having a diverse team in which each and every individual can fully develop and utilise their individual potential and strengths. We assign positions and tasks based on merit as a general principle. Job advertisements are worded openly and employees can also opt to work part-time. Diversity is something that we actively put into practice at DEMIRE.

The share of female employees was higher year-on-year in 2024, at 46.4% (previous year: 39.4%). The share of women at the first management level was 28.6% (previous year: 16.7%). The significant increase is based on the hiring of an additional female manager. DEMIRE will, of course, continue to work to increase the share of women further with new hires.

The Supervisory Board has comprised three members for many years. As at the reporting date of 31 December 2024, the proportion of women was at 0%. The reduction of this proportion in the past years from 33.3% to 0% was due to the departure of the female Supervisory Board member. Attempts to fill this position with a woman were unsuccessful; as a result, a man was appointed to the Supervisory Board.

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

As in the past year, the Executive Board comprised three men in 2024 as well. Due to the small number of members, legal requirements do not require a woman to be appointed.

The gender-specific ratio of remuneration paid to male employees relative to female employees (employees excluding members of the Executive Board and Supervisory Board, and excluding the first management level below the Executive Board) at DEMIRE was 1:1.08 in 2024 (previous year: 1:1.03).

In terms of senior executives (excluding Executive Board and Supervisory Board members), the remuneration ratio of male to female employees was 1:1.05 (previous year: 1:1.39).

On the Supervisory Board, the remuneration ratio of male to female employees is 1:1, with additional remuneration paid to the Chair or Deputy Chair. This additional remuneration is strictly related to the position and entirely independent of gender. Membership on the Supervisory Board of DEMIRE is remunerated at the exact same level for men and for women.

As the Executive Board consists only of men, a salary comparison is not required.

DEMIRE attaches a great deal of importance to enabling its employees to develop both professionally and personally. With this goal in mind, the Company earmarks an annual budget for further training that employees can use at any time. Further training sessions are organised based on individual agreements and are tailored to reflect personal needs. DEMIRE also enables young high potentials to finance their degrees, another reason for its sponsorship of EBS Universität für Wirtschaft und

Recht and presently also the Frankfurt School of Finance & Management. These development measures help to raise our employees' work satisfaction and ensures that DEMIRE as a company can meet growing market demands.

The average training hours per employee has been tracked since 2022. In 2024, this average was 9.8 hours per person (previous year: 8.8).

For many years now, including in 2024, all DEMIRE employees have received a performance appraisal in the first quarter.

In 2024, 6 new team members joined the Company, which corresponds to a recruitment rate of 21.4% (previous year: 24.2%). In the same period, 11 employees left the Company, which corresponds to a turnover rate of 39.9% (previous year: 21.2%). The high number of departures in 2024 is due to the sale of the Logistik Park Leipzig GmbH property, which resulted in the departure of 6 employees.

DEMIRE aims to keep the turnover rate as low as possible. Good working conditions are the deciding criteria here, which is why DEMIRE puts a particular focus on this and aims to make conditions for all employees as good as possible.

Among a total workforce of 28 employees (previous year: 33 employees), no work-related accidents occurred in 2024, as in the previous year. Once again, no losses were incurred due to occupational diseases or work-related accidents in 2024. The illness-related absence rate in 2024 was 3.3% (previous year: 1.4%). When calculating this figure, the number of working days in Hesse in 2024 less 30 days' holiday was multiplied by the total number of employees as at 31 December 2024 and compared with the sick days recorded in 2024. There were no recorded deaths in connection with professional activities in 2024.

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

DEMIRE has transferred its operational responsibility for its properties to a service provider. In connection with this, DEMIRE must ensure that all legally stipulated reviews of health and safety standards are carried out for all properties by this service provider. The share of properties where the health and safety standards are reviewed is thus 100%.

There were no breaches of health and safety standards in 2024. DEMIRE only considers breaches in this context to be instances that were recorded or announced by an official institution and for which a corresponding notice to remedy such a breach has been issued. Naturally there have been cases where insufficiencies have come to light as part of the required health and safety reviews. These are then remedied promptly by the contracted service provider.

DEMIRE does not currently record figures on properties with local community engagement programmes in which the interests of stakeholders are also taken into consideration. Overall, more than half of DEMIRE properties have tenants who contribute to engagement with local communities (such as daycare centres, local authorities). Data on how exactly stakeholders are engaged in this context is, however, not currently recorded at DEMIRE.

The Executive Board and Supervisory Board of DEMIRE are committed to the principles of good corporate governance and work together closely for the benefit of the Company. Together they strive to manage and direct the Company responsibly and with a focus on value creation.

Transparency - both in corporate management and in communication - is of great importance to the management bodies. To maintain this, they communicate regularly to keep up to date on the Company's current position and on major changes within the business.

DEMIRE uses quarterly and annual reports, press releases and events with financial analysts in Germany and abroad to keep its stakeholders informed about developments within the Company. The dates on which our regular reports will be published can be found well ahead of time in the financial calendar. In addition to its regular publications, DEMIRE also issues ad hoc announcements on issues that could significantly influence the Company's share price.

DEMIRE wants to achieve success on the market through reliability and fairness. To make this possible, statutory provisions and internal company guidelines must be observed. The Company has a Code of Conduct that all employees agree to abide by when they start working for the Company. It provides practical information for day-to-day work. There is also a Code of Conduct for the Company's business partners.

Employees can contact the Compliance Officer at any time if they have any questions or concerns regarding adherence to compliance regulations. The Executive Board can also be approached at any time.

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

The correct handling of conflicts of interest is covered for all employees in the Code of Conduct and as part of compliance workshops. There is also an explicit regulation on conflicts of interest for Executive Board members in their Rules of Procedure. DEMIRE is currently working on Company-wide guidelines on conflicts of interest in order to make the stipulations here more concrete. This guideline is to be implemented shortly.

The Executive Board is solely responsible for managing the Company and represents the Company in dealings with third parties. It defines the strategy in coordination with the Supervisory Board and implements this strategy, keeping the goal of sustainable value creation in mind. Executive Board members are responsible for individual areas independent of their joint responsibility for the Group. They cooperate and inform each other of important events and activities in their areas of responsibility. The Executive Board has adopted Rules of Procedure with the approval of the Supervisory Board. The Executive Board must obtain the Supervisory Board's approval in cases specified by law. In addition, DEMIRE's Articles of Association and the Executive Board's Rules of Procedure list extraordinary transactions that also require Supervisory Board approval. The Executive Board informs and reports to the Supervisory Board regularly, promptly and comprehensively all Company-relevant strategy matters, planning matters, business developments, and issues concerning risk. In addition, the Chair of the Supervisory Board is routinely and continually informed of business developments. The Executive Board relies on, among other things, the risk management system applicable throughout the DEMIRE group of companies to conduct reporting.

The members of the Executive Board of DEMIRE are also responsible for the topic of ESG within the Company. All three Executive Board members have built up extensive ESG knowledge over the course of their long professional careers. All three members are independent Executive Board members. The average term of office as

at 31 December 2024 was 2.78 years (previous year: 2.22 years). A change in the position of CEO took place with effect from 3 April 2024.

The members of the Executive Board are appointed by the Supervisory Board. There is no formal procedure for doing so. The Supervisory Board begins discussions on whether to extend Executive Board members' service agreements in good time before they are due to end. If these discussions do not result in continued collaboration, the Supervisory Board produces an individual profile of requirements for the appointment of a replacement.

The Supervisory Board also sets the Executive Board's remuneration and oversees its business management activities. It also advises the Executive Board on the management of the Company. The Supervisory Board adopts the financial statements and approves the consolidated financial statements. Material decisions of the Executive Board require the approval of the Supervisory Board. In addition, the Supervisory Board has adopted Rules of Procedure. The Supervisory Board currently consists of three members, who are elected by the Annual General Meeting of DEMIRE. The Supervisory Board does not include any former members of the Executive Board. It is organised in such a way that, as a whole, its members have the necessary knowledge, skills and professional experience to perform their duties properly. The Chair of the Supervisory Board coordinates the work of the Supervisory Board. The Supervisory Board has formed an Audit Committee.

Office

Area

EPRA code

Indicator

Unit of measurement

2022

2023

2024

Δ (in %)

Energy

Elec-Abs

Total electricity consumption

kWh per year

30,069,620

28,878,262

25,009,312

- 13.4

Share of renewable energies (in %)

65.7

57.5

63.4

10.2

Elec-LfL

Like-for-like electricity consumption

kWh per year

6,865,784

4,433,939

4,063,462

- 8.4

DH&C-Abs

Total energy consumption

from district heating and cooling

kWh per year

20,766,284

15,345,247

12,533,072

- 18.3

Share of renewable energies (in %)

6.5

3.8

4.5

17.7

DH&C-LfL

Like-for-like energy consumption from district heating and cooling

kWh per year

14,703,113

13,357,247

12,533,072

- 6.2

Fuels-Abs

Total energy consumption relating to fuels

kWh per year

14,753,661

14,676,100

14,173,340

- 3.4

Share of renewable energies (in %)

0.0

Fuels-LfL

Like-for-like fuel consumption

kWh per year

13,327,541

13,249,660

14,173,340

7.0

Energy-Int

Energy intensity of buildings

kWh/m²

120

112

123

10.0

Emissions

GHG-Dir-Abs

Direct GHG emissions (total) Scope 1

tCO2

3,212

3,201

4,431

38.5

GHG-Indir- Abs

Indirect GHG emissions (total) Scope 2

tCO2

2,973

1,712

1,475

- 13.8

GHG-Int

Intensity of GHG emissions - buildings

tCO2/m²

0.019

0.014

0.017

22.0

Water

Water-Abs

Total water consumption

Tonnes (m³)

97,495

95,166

76,983

- 19.1

Water-LfL

Like-for-like water consumption

Tonnes (m³)

72,960

82,423

76,983

- 6.6

Water-Int

Intensity of water consumption - buildings

m³/m²

0.19

0.18

0.20

9.7

Waste

Tonnes

1,017

1,024

1,040

1.5

Waste weight

per disposal channel (total)

incinerated (t)

605

585

610

4.3

Waste-Abs

composted (t)

170

169

- 50.9

recycled (t)

236

268

294

9.9

other (t)

n/a

Tonnes

525

839

1,040

23.9

Like-for-like waste weight per disposal channel

incinerated (t)

304

448

610

35.9

Waste-LfL

composted (t)

169

- 50.9

recycled (t)

147

219

294

34.4

other (t)

n/a

Certificates

Cert-Tot

Number of certified properties

Number of certificates

0.0

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

Retail

Area

EPRA code

Indicator

Unit of measurement

2022

2023

2024

Δ (in %)

Energy

Elec-Abs

Total electricity consumption

kWh per year

7,799,846

6,634,408

2,947,589

- 55.6

Share of renewable energies (in %)

50.7

48.4

60.2

11.8

Elec-LfL

Like-for-like electricity consumption

kWh per year

2,110,507

1,937,216

1,861,500

- 3.9

DH&C-Abs

Total energy consumption

from district heating and cooling

kWh per year

5,982,690

4,811,500

3,039,469

- 36.8

Share of renewable energies (in %)

16.3

16.1

0.0

- 100.0

DH&C-LfL

Like-for-like energy consumption from district heating and cooling

kWh per year

2,769,320

2,628,370

3,039,469

15.6

Fuels-Abs

Total energy consumption relating to fuels

kWh per year

658,169

582,319

649,142

11.5

Share of renewable energies (in %)

0.0

Fuels-LfL

Like-for-like fuel consumption

kWh per year

658,169

582,319

649,142

11.5

Energy-Int

Energy intensity of buildings

kWh/m²

133

125

113

- 9.7

Emissions

GHG-Dir-Abs

Direct GHG emissions (total) Scope 1

tCO2

159

140

203

44.6

GHG-Indir- Abs

Indirect GHG emissions (total) Scope 2

tCO2

914

748

676

- 9.6

GHG-Int

Intensity of GHG emissions - buildings

tCO2/m²

0.019

0.016

- 1.1

Water

Water-Abs

Total water consumption

Tonnes (m³)

45,704

27,279

21,791

- 20.1

Water-LfL

Like-for-like water consumption

Tonnes (m³)

16,358

21,978

21,791

- 0.9

Water-Int

Intensity of water consumption - buildings

m³/m²

0.55

0.33

0.38

18.1

Waste

Tonnes

758

757

378

- 50.0

Waste weight

per disposal channel (total)

incinerated (t)

439

418

134

- 67.9

Waste-Abs

composted (t)

- 100.0

recycled (t)

258

284

229

- 19.3

other (t)

n/a

Tonnes

368

433

378

- 12.7

Like-for-like waste weight per disposal channel

incinerated (t)

144

177

134

- 24.0

Waste-LfL

composted (t)

- 100.0

recycled (t)

201

237

229

- 3.3

other (t)

n/a

Certificates

Cert-Tot

Number of certified properties

Number of certificates

0.0

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

Logistics

Energy

Elec-Abs

Total electricity consumption

kWh per year

8,636,820

7,519,122

- 100.0

Share of renewable energies (in %)

57.6

58.9

0.0

- 58.9

Elec-LfL

Like-for-like electricity consumption

kWh per year

0.0

DH&C-Abs

Total energy consumption

from district heating and cooling

kWh per year

0.0

Share of renewable energies (in %)

0.0

DH&C-LfL

Like-for-like energy consumption from district heating and cooling

kWh per year

0.0

Fuels-Abs

Total energy consumption relating to fuels

kWh per year

9,184,313

8,164,839

- 100.0

Share of renewable energies (in %)

0.0

Fuels-LfL

Like-for-like fuel consumption

kWh per year

0.0

Energy-Int

Energy intensity of buildings

kWh/m²

- 100.0

Emissions

GHG-Dir-Abs

Direct GHG emissions (total) Scope 1

tCO2

0.0

GHG-Indir- Abs

Indirect GHG emissions (total) Scope 2

tCO2

0.0

GHG-Int

Intensity of GHG emissions - buildings

tCO2/m²

0.0

Water

Water-Abs

Total water consumption

Tonnes (m³)

15,982

24,144

- 100.0

Water-LfL

Like-for-like water consumption

Tonnes (m³)

0.0

Water-Int

Intensity of water consumption - buildings

m³/m²

0.10

0.15

0.00

- 100.0

Waste

Tonnes

- 100.0

Waste weight

per disposal channel (total)

incinerated (t)

- 100.0

Waste-Abs

composted (t)

0.0

recycled (t)

0.0

other (t)

n/a

Tonnes

0.0

Like-for-like waste weight per disposal channel

incinerated (t)

0.0

Waste-LfL

composted (t)

0.0

recycled (t)

0.0

other (t)

n/a

Certificates

Cert-Tot

Number of certified properties

Number of certificates

0.0

Area EPRA code Indicator Unit of measurement 2022 2023 2024 Δ (in %)

Other

Area

EPRA code

Indicator

Unit of measurement

2022

2023

2024

Δ (in %)

Energy

Elec-Abs

Total electricity consumption

kWh per year

2,443,718

2,300,110

1,452,437

- 36.9

Share of renewable energies (in %)

58.2

59.0

57.7

- 1.3

Elec-LfL

Like-for-like electricity consumption

kWh per year

254,858

226,057

213,843

- 5.4

DH&C-Abs

Total energy consumption

from district heating and cooling

kWh per year

780,174

792,165

880,340

11.1

Share of renewable energies (in %)

32.0

0.0

DH&C-LfL

Like-for-like energy consumption from district heating and cooling

kWh per year

780,174

792,165

880,340

11.1

Fuels-Abs

Total energy consumption relating to fuels

kWh per year

1,408,979

1,378,552

1,134,902

- 17.7

Share of renewable energies (in %)

0.0

Fuels-LfL

Like-for-like fuel consumption

kWh per year

1,151,079

873,893

1,134,902

29.9

Energy-Int

Energy intensity of buildings

kWh/m²

188

185

172

- 7.0

Emissions

GHG-Dir-Abs

Direct GHG emissions (total) Scope 1

tCO2

277

211

355

68.4

GHG-Indir- Abs

Indirect GHG emissions (total) Scope 2

tCO2

110

- 11.0

GHG-Int

Intensity of GHG emissions - buildings

tCO2/m²

0.013

0.009

0.014

59.9

Water

Water-Abs

Total water consumption

Tonnes (m³)

12,384

24,465

29,231

19.5

Water-LfL

Like-for-like water consumption

Tonnes (m³)

4,417

24,195

29,231

20.8

Water-Int

Intensity of water consumption - buildings

m³/m²

0.38

0.74

0.98

31.6

Waste

Tonnes

192

190

181

- 4.5

Waste weight

per disposal channel (total)

incinerated (t)

- 16.6

Waste-Abs

composted (t)

- 0.2

recycled (t)

- 0.1

other (t)

n/a

Tonnes

164

182

181

- 0.0

Like-for-like waste weight per disposal channel

incinerated (t)

- 2.4

Waste-LfL

composted (t)

0.5

recycled (t)

- 0.1

other (t)

n/a

Certificates

Cert-Tot

Number of certified properties

Number of certificates

0.0

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

Total

Area

EPRA code

Indicator

Unit of measurement

2022

2023

2024

Δ (in %)

Energy

Elec-Abs

Total electricity consumption

kWh per year

48,950,003

45,331,903

29,409,338

- 35.1

Share of renewable energies (in %)

61.5

56.5

62.8

6.3

Elec-LfL

Like-for-like electricity consumption

kWh per year

9,231,149

6,597,212

6,138,805

- 6.9

DH&C-Abs

Total energy consumption

from district heating and cooling

kWh per year

27,529,148

20,948,912

16,452,881

- 21.5

Share of renewable energies (in %)

9.4

7.7

5.1

- 2.6

DH&C-LfL

Like-for-like energy consumption from district heating and cooling

kWh per year

18,252,607

16,777,782

16,452,881

- 1.9

Fuels-Abs

Total energy consumption relating to fuels

kWh per year

26,005,122

24,801,809

15,957,384

- 35.7

Share of renewable energies (in %)

0.0

Fuels-LfL

Like-for-like fuel consumption

kWh per year

15,136,789

14,705,872

15,957,384

8.5

Energy-Int

Energy intensity of buildings

kWh/m²

109

100

124

23.8

Emissions

GHG-Dir-Abs

Direct GHG emissions (total) Scope 1

tCO2

3,648

3,552

4,989

40.5

GHG-Indir- Abs

Indirect GHG emissions (total) Scope 2

tCO2

3,997

2,547

2,228

- 12.5

GHG-Int

Intensity of GHG emissions - buildings

tCO2/m²

0.018

0.014

0.017

20.6

Water

Water-Abs

Total water consumption

Tonnes (m³)

171,565

171,054

128,004

- 25.2

Water-LfL

Like-for-like water consumption

Tonnes (m³)

93,735

128,597

128,004

- 0.5

Water-Int

Intensity of water consumption - buildings

m³/m²

0.30

0.35

0.39

11.5

Tonnes

1,977

1,973

1,600

- 18.9

Waste weight

per disposal channel (total)

incinerated (t)

1,115

1,064

793

- 25.5

Waste-Abs

composted (t)

287

280

141

- 49.7

recycled (t)

567

624

596

- 4.5

Waste

other (t)

n/a

Tonnes

1,057

1,454

1,600

10.0

Like-for-like waste weight per disposal channel

incinerated (t)

487

676

793

17.4

Waste-LfL

composted (t)

151

245

141

- 42.5

recycled (t)

416

529

596

12.8

other (t)

n/a

Certificates

Cert-Tot

Number of certified properties

Number of certificates

0.0

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

Office - own use

Area

EPRA code

Indicator

Unit of measurement

2022

2023

2024

Δ (in %)

Energy

Elec-Abs

Total electricity consumption¹

kWh per year

38,414

50,214

42,091

- 16.2

Share of renewable energies (in %)

57.7

58.9

0.0

Elec-LfL

Like-for-like electricity consumption

kWh per year

38,414

50,214

42,091

- 16.2

DH&C-Abs

Total energy consumption

from district heating and cooling

kWh per year

0.0

Share of renewable energies (in %)

0.0

DH&C-LfL

Like-for-like energy consumption from district heating and cooling

kWh per year

0.0

Fuels-Abs

Total energy consumption relating to fuels

kWh per year

86,893

92,349

90,331

- 2.2

Share of renewable energies (in %)

0.0

Fuels-LfL

Like-for-like fuel consumption

kWh per year

86,893

92,349

90,331

- 2.2

Energy-Int

Energy intensity of buildings

kWh/m²

112

104

- 7.3

Emissions

GHG-Dir-Abs

Direct GHG emissions (total) Scope 1

tCO2

20.9

22.3

21.8

- 2.2

GHG-Indir- Abs

Indirect GHG emissions (total) Scope 2

tCO2

16.7

21.8

18.3

- 16.2

GHG-Int

Intensity of GHG emissions - buildings

tCO2/m²

0.029

0.035

0.0

Water

Water-Abs

Total water consumption

Tonnes (m³)

123

126

149

18.5

Water-LfL

Like-for-like water consumption

Tonnes (m³)

123

126

149

18.5

Water-Int

Intensity of water consumption - buildings

m³/m²

0.10

0.12

18.5

Waste

Tonnes

2.3

3.1

3.6

16.3

Waste weight

per disposal channel (total)

incinerated (t)

1.5

1.9

2.0

6.1

Waste-Abs

composted (t)

0.4

0.1

recycled (t)

0.4

0.8

1.0

26.0

other (t)

0.0

0.2

n/a

Tonnes

2.3

3.1

3.6

16.3

Like-for-like waste weight per disposal channel

incinerated (t)

1.5

1.9

2.0

6.1

Waste-LfL

composted (t)

0.4

0.1

recycled (t)

0.4

0.8

1.0

26.0

other (t)

0.0

0.2

n/a

Certificates

Cert-Tot

Number of certified properties

Number of certificates

0.0

1 Unlike the environmental figures for the portfolio, the total electricity consumption is recorded (common areas and tenant spaces). Therefore, it is not possible to compare this with the environmental figures for the portfolio as the tenant spaces are only partially recorded in those.

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

Area EPRA code Indicator

Proportion male/female - Supervisory Board %

Employee

Diversity-Emp

Proportion male/female - Executive Board %

Company-wide

66.6 male,

33.3 female

100 male,

0 female

66.6 male,

33.3 female 100.0 male, 0.0 female

100 male, 100 male,

0 female 0 female

remuneration)

Employee development

Emp-Turnover

Share of new hires

Company-wide

27.3

24.2

21.4

H&S-Emp

Lost day rate

Company-wide

Health and safety

Community

diversity

Proportion male/female - senior management

75.0 male,

25.0 female

83.3 male,

16.7 female

71.43 male,

28.57 female

Proportion male/female - all employees

54.5 male,

45.5 female

60.6 male,

39.4 female

53.57 male,

46.43 female

Diversity salary

Proportion male/female - Supervisory Board

1 to 1

Not applicable

comparison (fixed

Proportion male/female - Executive Board

Not applicable

salary and/or plus Diversity-Emp

any additional

Proportion male/female - senior management

Company-wide

1 to 1.24

1 to 1.39

1 to 1.05

Proportion male/female - all employees

1 to 1.01

1 to 1.03

1 to 1.08

Emp-Training

Average number of training hours per employee

Hours

Company-wide

13.1

8.8

9.8

Emp-Dev

Proportion of employees with regular performance appraisals

Company-wide

100

Total number of new hires

Number

SOCIAL

Unit of

measurement Scope 2022 2023 2024

Total number of employees who left

Number

Share of employees who left

24.2

21.2

39.3

Injury rate

Absentee rate

3.38

1.43

3.31

Number of fatalities

Number

H&S-Asset

Proportion of properties where health and safety standards have been reviewed

Portfolio

100

H&S-Comp

Number of breaches of health and safety standards

Number

Portfolio

Comty-Eng

Proportion of properties with programmes to engage local communities

Portfolio

Area

EPRA code

Indicator

Unit of measurement

Scope

2022

2023

2024

GOVERNANCE

Number of members of the Executive Board

Number

Number of independent members of the Executive Board

Number

Gov-Board

Average term of office of Executive Board members

Years

Company-wide

3.96

2.22

2.78

Number of Executive Board members with skill sets relating to environmental and social topics

Number

Corporate governance

See "Corporate Governance"

chapter in the 2022 Annual Report

(from page 15)

See "Corporate Governance"

chapter in the 2023 Annual Report

(from page 15)

See "Corporate Governance"

chapter in the 2024 Annual Report

(from page 15)

Gov-Select

Procedure for selection and appointment of Executive Board members

Process description

Company-wide

Gov-Col

Procedure relating to conflicts of interest on the Executive Board

Process description

Company-wide

See "Corporate Governance"

chapter in the 2022 Annual Report

(from page 15)

Section 5 of the Executive Board's Rules of Procedure; Code of Conduct; details in the "Corporate Governance"

chapter of the

Sustainability Report

Section 5 of the Executive Board's Rules of Procedure; Code of Conduct; details in the "Corporate Governance"

chapter of the

Sustainability Report

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

Unit of measurement

2022

2023

2024

SCOPE 1

Heating - natural gas

kWh

91,833

92,349

90,331

t CO2 e

22.1

22.3

21.8

Cooling refrigerants

t CO2 e

Company cars

78,450

59,220

67,738

t CO2 e

13.2

9.3

7.7

SCOPE 2

Electricity total

kWh

55,574

50,231

42,091

t CO2 e

24.1

5.3

3.9

thereof: Electricity - tenant spaces

kWh

45,028

40,262

34,911

t CO2 e

19.5

1.5

1.3

thereof: Electricity - common area consumption

kWh

10,546

9,969

7,180

t CO2 e

4.58

3.85

2.61

Water

m³

122.7

126.0

149.3

t CO2 e

0.04

0.05

SCOPE 3

Waste

2.35

3.10

3.60

t CO2 e

1.31

1.74

1.20

Business travel

43,300

53,458

32,593

t CO2 e

6.0

2.5

2.2

Employee commutes

236,498

278,422

278,334

t CO2 e

27.1

18.6

22.1

Sum of CO2emissions

t CO2 e

97.4

59.7

58.9

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

2022

2023

2024

Number of employees

Office space

1,276

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

Unit of measurement

2022

2023

2024

SCOPE 1

Heating

per employee

kWh/employee

2,782.8

2,798.5

3,226.1

per office space

kWh/m²

72.0

72.4

70.8

Cooling refrigerants

per employee

kg/employee

per office space

kg/m²

Company cars

per employee

km/employee

2,377.3

1,794.5

2,419.2

SCOPE 2

Electricity

per employee

kWh/employee

1,684.1

1,522.2

1,503.3

per office space

kWh/m²

43.6

39.4

33.0

Water

per employee

m³/employee

3.72

3.82

5.33

per office space

m³/m²

0.10

0.12

per employee and day

l/employee/day

16.9

17.4

24.2

SCOPE 3

Waste

per employee

t/employee

0.07

0.09

0.13

Business travel

per employee

km/employee

1,312.1

1,619.9

1,164.0

Employee commutes

per employee

km/employee

7,166.6

8,437.0

9,940.5

per employee

km/employee/day

32.6

38.4

45.2

Unit of

t CO2 e

38.9

31.6

29.5

t /CO2e/employee

1.2

1.0

1.1

t CO2 e

24.2

5.3

3.9

t /CO2e/employee

0.7

0.2

0.1

t CO2 e

34.4

22.8

25.5

t /CO2e/employee

1.0

0.7

0.9

t CO2 e

97.4

59.7

58.9

t /CO2e/employee

3.0

1.8

2.1

measurement 2022 2023 2024

Scope 1

Scope 2

Scope 3

Scope 1+2+3

Unit of measurement

2022

2023

2024

Scope 1+2 emissions

t CO2 e

63.1

36.9

33.4

Earnings before taxes (EBT)

EUR thousand

- 73,306

- 177,461

- 82,620

ROCE

t CO2e/EUR m

- 0.86

- 0.21

- 0.40

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

To the Management Board of DEMIRE Deutsche Mittelstand Real Estate AG, Langen

We (Ernst & Young Real Estate GmbH) were engaged to carry out a verification based on EN ISO 19011 Annex A5 in accordance with the Third Party Assurance described by the European Public Real Estate Association ("EPRA") for the areas of Environmental Sustainability Performance Measures, Social Performance Measures and Governance Performance Measures of the EPRA Sustainability Performance Measures of the EPRA Sustainability Best Practices Recommendation Guidelines (Fourth Edition, as of April 2024) ("EPRA sBPR") as well as for the Disclosure on own offices section of the Overarching Recommendations for the sustainability report ("NACHHALTIGKEITSBERICHT 24/25 NACH EPRA sBPR", dated June 2025) (in the following sustainability report) for the reporting period from January 1 to December 31, 2024, of DEMIRE Deutsche Mittelstand Real Estate AG for 39 properties to perform.

Based on the verification methodology used and the evidences made available to us, there are no indications that lead us to assume that the information in the areas of Methodology ("Methodik"), Explanatory information on the key figures ("Erläuterung der Kennzahlen") and EPRA sustainability indicators ("EPRA-Nachhaltigkeitskennzahlen") of the sustainability report for the period from January 1 to December 31, 2024, of DEMIRE Deutsche Mittelstand Real Estate AG do not meet the requirements of the EPRA Sustainability Best Practices Recommendations Guidelines.

This verification note is for the exclusive purpose of the Management Board of DEMIRE Deutsche Mittelstand Real Estate AG, Langen. We assume no responsibility towards third parties.

Best regards,

Hamburg, 17 June 2025

Ernst & Young Real Estate GmbH

Dirk Rathlev

Partner

p.p. Dr Timo Manssen

Manager

FOREWORD BY THE

EXECUTIVE BOARD 2

INTRODUCTION 4

SUSTAINABILITY STRATEGY 5

METHODOLOGY 7

EXPLANATORY INFORMATION

ON THE KEY FIGURES 11

EPRA SUSTAINABILITY

INDICATORS 18

COMPANY'S OWN CARBON EMISSIONS 26

VERIFICATION NOTE 28

IMPRINT 29

COMPANY CONTACT DETAILS

DEMIRE Deutsche Mittelstand Real Estate AG Robert-Bosch-Straße 11

63225 Langen Germany

T + 49 (0) 6103 - 372 49 - 0

F + 49 (0) 6103 - 372 49 - 11

[email protected] https://www.demire.ag

PUBLISHER

The Executive Board of DEMIRE Deutsche Mittelstand Real Estate AG

CONCEPT AND LAYOUT

Berichtsmanufaktur GmbH, Hamburg, Germany

PUBLICATION DATE

26 June 2025

Disclaimer

DEMIRE Deutsche Mittelstand Real Estate AG published this content on June 26, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 26, 2025 at 05:55 UTC.