TLG IMMOBILIEN with a revaluation uplift of around EUR 244 m in the second half of 2019

- Like-for-like valuation increases by EUR 244 m in the second half of 2019, growth of 5.5%

- 90% of the increase is attributable to Berlin due to the continuing rise in market rents

- Around half of this is attributable to asset class Invest

- An additional development project with investment potential of EUR 40 m identified

- Pro-forma EPRA NAV increases by around 7% to EUR 32.40 per share

- Pro-forma Net LTV is 34% (43% incl. Hybrid)

Berlin, 27 January 2020 - TLG IMMOBILIEN AG (DE000A12B8Z4) can announce a preliminary revaluation uplift of approx. EUR 244 m as at the end of 2019. Compared to 30 June 2019, this corresponds to an increase of 5.5% (like for like) and an absolute increase, taking into account the sales in the second half of 2019, from approx. EUR 4.6 bn to approx. EUR 4.7 bn.
Similarly to the end of the first half of 2019, 90% of this change in value is attributable to properties in Berlin which continue to profit from the dynamic market developments with increasing rents. The upward revaluation is mainly attributed to investment projects and to office properties.

In addition, a further investment project with a planned investment volume of approx. EUR 40 m was identified in the Berlin portfolio of TLG IMMOBILIEN. The planned merger with Aroundtown will allow this project to be realised in the future.

On the basis of the EPRA Net Asset Value of EUR 30.25 per share by 30 September 2019, this equates to a pro-forma EPRA NAV of around EUR 32.40 per share as at the end of 2019. This corresponds to a roughly 7% increase. The pro-forma Net LTV amounts to 34%, taking the hybrid bond into full consideration it is 43%.

"For us, this increase in value once again reflects the highly dynamic performance of the office property market in Berlin. Additionally, the large proportion of our investment projects there demonstrates that our expectations concerning growth in the development of office property projects are correct. We see further potential to accelerate the growth due to the upcoming merger with Aroundtown", says Gerald Klinck, CFO of TLG IMMOBILIEN AG.

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ABOUT TLG IMMOBILIEN AG

For over 25 years, the listed company TLG IMMOBILIEN AG has owned and rented out commercial properties in selected promising locations in Germany. The company continuously develops its portfolio and actively generates value through strategic investments and selected property acquisitions. As at 30 September 2019, its portfolio contains properties worth EUR 4.6 bn. As at the same reporting date, the adjusted EPRA Net Asset Value per share amounted to EUR 30.25. The portfolio comprises office properties in cities including Berlin, Dresden, Frankfurt/Main, Leipzig and Rostock. It also contains a regionally diversified portfolio of retail properties, primarily in the neighbourhood shopping segment, in promising micro-locations as well as seven hotels in top central locations. The properties of TLG IMMOBILIEN AG stand out not only due to their excellent locations but also because of their long-term rental or lease agreements. Its highly qualified employees guarantee extensive local market expertise at its individual locations.

This publication contains forward-looking statements based on current views and assumptions of TLG IMMOBILIEN AG's management and made to the best of knowledge. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause TLG IMMOBILIEN AG's revenues, profitability or the degree to which it performs or achieves its targets, to materially deviate from what is explicitly or implicitly stated or described in this publication. Therefore, persons who obtain possession of this publication should not rely on such forward-looking statements. TLG IMMOBILIEN AG accepts no guarantee or responsibility regarding such forward-looking statements and will not adjust them to future results or developments.