JOINT REPORT - conwert Immobilien Invest SE

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SUMMARY TRANSLATION OF THE GERMAN LANGUAGE REPORT. THIS TRANSLA-
TION IS FOR IMFORMATIONAL PURPOSES ONLY.
j) the acquisition of a 22% interest in Alt & Kelber Immobilienverwaltung
GmbH from Walter Leitner.
To item 1.g) above it is noted, that ECO Management GmbH plans to reduce its reg-
istered capital from Euro 4,500,000 by Euro 4,450,000 to Euro 50,000 before Clos-
ing of the transaction with which conwert would acquire ECO Management GmbH.
The sellers shall be entitled to the reduction amount of Euro 4,450,000 in the ratio
of their interests in ECO Management GmbH.
2. To facilitate the execution of the acquisitions mentioned under item 1, each of the
sellers has submitted to conwert an offer for the sale and transfer of the interests
held by such seller. The offers can be accepted by conwert by way of a acceptance
declaration in accordance with the applicable acceptance periods set forth in the of-
fers.
3. By acquiring the interests in conwert Management GmbH, Insurance Financial Ser-
vice GmbH and Alt & Kelber Immobiliengruppe GmbH, conwert would also indirectly
acquire the interests held by conwert Management GmbH, Insurance Financial Ser-
vice GmbH and Alt & Kelber Immobiliengruppe GmbH in the following subsidiaries:
a) conwert Management GmbH holds a 70% interest in BOKRÉTA Management
Kft., Budapest, a 60% interest in Pdcz brno s.r.o, Brno, a 60% interest in
Pdsk Bratislava s.r.o., Bratislava, a 60% interest in conwert Thüringen Port-
folio GmbH, Berlin, a 100% interest in conwert Deutschland Immobilien
GmbH, Berlin, a 40% interest in Bau-Verein zu Hamburg Hausverwaltungs-
gesellschaft mbH, Hamburg, and a 60% interest in CC Portfolio GmbH, Ber-
lin.
b) Insurance Financial Services GmbH holds a 100% interest in RESAG Insur-
ance Broker GmbH, Vienna.
c) Alt & Kelber Immobiliengruppe GmbH holds a 100% in ALT & KELBER Woh-
nungsprivatisierung GmbH, Heilbronn, Germany, a 78% interest in Alt &
Kelber Immobilienverwaltung GmbH, Heilbronn, Germany, a 100% interest
in ALT & KELBER Verwaltungs GmbH, Heilbronn, Germany, a 100% interest
in ALT & KELBER Immobilienmanagement GmbH, Heilbronn, Germany, a
100% interest in ALT & KELBER Eigenheim GmbH, Heilbronn, Germany, a
100% interest in ALT & KELBER Wohninvest GmbH, Heilbronn, Germany,
and is also the sole limited partner of ALT & KELBER Immobilienkontor