Adler Group S.A. initiates appointment of auditor

• Board of Directors to convene General Meeting for 27 November
• AVEGA to be elected as auditor of the standalone and consolidated financial statements for the years 2022 and 2023
• A total of four audit firms involved in the audit of Adler Group

Luxembourg, 16 October 2023 - Adler Group S.A. ("Adler Group") has successfully completed its search for an auditor for the financial years 2022 and 2023 and is promptly initiating the appointment of the auditor by the General Meeting (“GM”). The Board of Directors of Adler Group has today received a declaration of acceptance of a corresponding engagement from AVEGA Revision S.à.r.l. (“AVEGA”) and has set in motion the convening of a GM for the appointment of the auditor, which is expected to take place on 27 November 2023. The invitation to the GM is expected to be published by 27 October.

Subject to the appointment by the GM, AVEGA will be responsible for the audit of the annual and consolidated financial statements of Adler Group for the financial years 2022 and 2023. Three other auditing firms will be responsible for the audit of the sub-areas relevant to the Group ("component audit"): Rödl & Partner has already been appointed by the court to audit the 2022 annual and consolidated financial statements of ADLER Real Estate AG. Morison Köln AG has been commissioned with the sub-area audit of the sub-group Consus Real Estate AG. DOMUS Steuerberatungs-AG · Wirtschaftsprüfungsgesellschaft will audit the individual financial statements of the German property companies of Adler Group.

"We on the Board of Directors of Adler Group are extremely pleased that, after a search lasting around 15 months and more than a hundred discussions, we can finally present a solution for the audit of our annual and consolidated financial statements. We thank the companies involved for taking on this task and this complex mandate," says Prof. Dr. A. Stefan Kirsten, Chairman of the Adler Group's Board of Directors. "This means that we have now accomplished the plan, first commenced in February 2022, to deal with the allegations of a short-seller. I am confident that we can now move forward with our 'new normal' despite all the challenges from the political and economic environment," Kirsten continues.

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