Corestate implements important conditions from the approved restructuring concept

Corestate implements important conditions from the approved restructuring concept

• Supervisory Board with two new members – Dr. Nedim Cen new Chairman of the Supervisory Board
• CRO appointed to the Management Board – Stavros Efremidis (CEO) and Ralf Struckmeyer (CIO) will leave the Management Board at the end of the year
• Lock-up agreements with shareholders and bondholders ratified as key entry condition for successful turnaround
• Bond investors provide €10 million bridge financing in the short term
• Group's financial and liquidity position secured with new financing

Luxembourg, December 5, 2022 – Corestate Capital Holding S.A. ("Corestate") has fulfilled several key conditions from the agreed restructuring concept following the creditors' meeting on November 28, 2022.

Dr. Nedim Cen and Dr. Sven-Marian Berneburg are appointed as new members of the Supervisory Board with immediate effect. The previous Supervisory Board members Dr. Roland Folz and Dr. Friedrich Oelrich had previously resigned from office. Dr. Nedim Cen and Dr. Sven-Marian Berneburg have many years of experience in real estate and asset management. Dr. Nedim Cen will take over as Chairman of the Supervisory Board; Dr. Bertrand Malmendier will continue to serve as Deputy Chairman of the Supervisory Board.

In parallel, the position of Chief Restructuring Officer (CRO) was added to the Group Management Board. The Chairman of the Management Board of Corestate Capital Holding S.A, Stavros Efremidis (CEO) and Ralf Struckmeyer as Chief Investment Officer (CIO) will leave the company at their own request on December 31, 2022. The Supervisory Board would like to thank both of them for the valuable entrepreneurial contribution they have made during a challenging period for Corestate, thus helping to secure the Group's continued existence. The Supervisory Board wishes them every success in their new challenges. The new Group Management Board will continue to include Izabela Danner (COO) and Udo Giegerich (CFO), who, together with the CRO, will continue to consistently drive forward the restructuring of the company. The newly constituted Supervisory Board will decide on the successor to the CEO and the future allocation of responsibilities in the near future.

The necessary lock-up agreements with major shareholders and a group of large bondholders were ratified by the Ad Hoc Committee (AHC) as planned. Subsequently, the AHC will provide bridge financing in the amount of € 10 million as a further component of the Company's restructuring concept. This short-term financing serves to secure and further develop the Group's general liquidity and forms an anchor measure under the restructuring concept.

A next important step in the implementation of the measures resolved at the creditors' meeting is the increase in authorized capital for the debt-to-equity swap at the Extraordinary General Meeting on December 20, 2022.

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Dr. Nedim Cen holds a doctorate in business administration and a degree in engineering and has more than 25 years of professional experience in operational and financial restructuring, transformation processes as well as capital market and M&A transactions in various industries. In the course of his professional career, he has held various management and supervisory board positions, including at listed companies such as IVG Immobilien Group.

Dr. Sven-Marian Berneburg is a qualified banker and holds a doctorate in economics. He has more than 15 years of experience in the real estate sector, in particular in real estate investment and asset management. In the course of his professional career, he has held management and supervisory board positions at various companies, some of which are regulated.

Press and Investor Relations Contact

Thomas Fritsche

T: +49 69 3535630-106 / M: +49 162 1036025
ir@corestate-capital.com

About Corestate Capital Holding S.A. (Corestate)

Corestate is an investment manager and co-investor with € 17.3 billion in assets under management in the core business. The company sees itself as a manager for the entire length of the real estate value chain. Thanks to its fully integrated real estate platform, it is able to offer investors a wide range of services, especially the opportunity to invest in large-scale societal trends such as urbanization, demographic shifts or sustainability – trends that will continue to have a decisive influence on the living and working environment in the long term. The consistent focus on asset classes that will be successful in the long run constitutes a central cornerstone of the company strategy. At Corestate, all concepts are supported with ESG expertise that is unique to the industry. With more than 400 experts, Corestate offers clients and investors a full range of services and consultation from a single source, from project financing and real estate management to sales. Corestate is listed on the Frankfurt Stock Exchange and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 11 countries across Europe, with offices in Luxembourg, Frankfurt, Munich, Zurich, Paris and Madrid. Please visit www.corestate-capital.com for further information.

Forward-looking statement

This press release may contain certain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial position, development or performance of the Company and the estimates given here. These factors include those described in published reports. These reports are available on our website www.corestate-capital.com. The Company assumes no obligation whatsoever to update these forward-looking statements or to conform them to future events or developments. No inappropriate significance should be attached to forward-looking statements, which apply only to the date of this communication.