GORE German Office Real Estate AG: Convening of an Extraordinary Shareholders' Meeting on 8 June 2022/ Resolution on GORE capital increase

GORE German Office Real Estate AG: Convening of an Extraordinary Shareholders' Meeting on 8 June 2022/ Resolution on GORE capital increase

Frankfurt/Main, 18 Mai 2022 – Executive Board and Supervisory Board of GORE German Office Real Estate AG ("GORE", ISIN: DE000A0Z26C8) have resolved to convene an Extraordinary Shareholders' Meeting for 8 June 2022. The only item on the agenda is the resolution on the increase of the share capital of the Company by means of a capital increase against contributions in kind by contributing a real estate portfolio located in Luxembourg and held through an investment structure, excluding the shareholders' statutory subscription rights, as well as a corresponding amendment to the Statutes.

GORE's share capital of EUR 37,525,000 is to be increased by EUR 160,000,000 to EUR 197,525,000 by issuing 160,000,000 new registered no-par value shares, each representing EUR 1.00 of the share capital, against contributions in kind. The value per share to be applied for GORE is EUR 3.00. This means that the valuation is significantly higher than the current stock market closing price of EUR 2.12 (as of 16 May 2022). Only LIC Income-Producing Property with its registered office in Luxembourg will be admitted to subscribe for the New Shares. The total value of the new shares to be granted for the contribution of the real estate portfolio amounts to EUR 480 million.

The planned capital increase in kind is the first step in the intended strategic expansion of GORE and the company's focus on the Luxembourg real estate market. In a second step, 151,000,000 of the newly created GORE shares will initially be contributed to the GORE parent PREOS Global Office Real Estate & Technology AG ("PREOS") by way of a capital increase against contributions in kind in exchange for the issue of new PREOS shares. This capital increase in kind is to be resolved at the Extraordinary Shareholders' Meeting of PREOS on 9 June 2022. In the next step, a further portfolio of four Luxembourg properties is to be contributed. This further capital increase against contributions in kind is expected to be carried out against the issuance of further new GORE shares with an expected equivalent value of approximately EUR 1.75 billion between Q4 2022 and Q4 2023. The fourth and final step provides for the new GORE shares created as a result of this further non-cash capital increase to be contributed to PREOS, also by way of a contribution in kind, in return for the issue of new PREOS shares.

The virtual Extraordinary Shareholders' Meeting will take place without physical presence of the shareholders or their authorized representatives (with the exception of the proxies appointed by the Company). Further information on the Extraordinary Shareholders' Meeting can be found in the official invitation, which is published as of today. The invitation is available in the electronic Federal Gazette and on the website www.gore-ag.de/de/investor-relations/#Hauptversammlung. As of tomorrow, the invitation to the Extraordinary Shareholders' Meeting of PREOS will also be available.

About GORE
The GORE German Office Real Estate AG ("GORE") is a dynamically growing real estate investor with a focus on office properties in German conurbations. Using a manage-to-core approach, GORE acquires properties in preferred locations at below market value wherever possible in order to sustainably enhance their value. Investment activities focus on properties with a market value of between EUR 1 and 15 million. Compared to other property sizes, this size class offers a less competitive market environment in terms of purchasing according to GORE estimates. GORE's aim is to generate above-average value enhancement and return potential along the entire value chain, from acquisition through management to sale, together with its partners. The volume of the real estate portfolio is expected to be multiplied by acquisitions in the coming years.

Press Contact:

edicto GmbH
Axel Mühlhaus/ Sonja Liebig
Eschersheimer Landstraße 42
60322 Frankfurt am Main
Phone +49(0) 69/905505-56
Mail gore@edicto.de