Adler Group S.A. strengthens Senior Management with expanded expertise

• CEO Thierry Beaudemoulin’s employment contract renewed
• Hubertus Kobe appointed as CRO of Adler Group with effect from 19 June 2023
• Proposal to expand the Board of Directors of Adler Group S.A. to include independent candidates with restructuring and capital market expertise

Luxembourg, 1 June 2023 - The Adler Group S.A. ("Adler Group") is expanding its Senior Management and Board of Directors as part of the implementation of the restructuring plan. The employment contract of Chief Executive Officer (CEO) Thierry Beaudemoulin was renewed. Thierry Beaudemoulin has been CEO of the Adler Group since 2019. He is also a member of Adler Group's Board of Directors.

With effect from 19 June 2023, Hubertus Kobe has been appointed as Chief Restructuring Officer (CRO) and will join the Senior Management of Adler Group. The responsibilities of the newly created CRO position will primarily include overseeing the restructuring of Adler Group in accordance with the approved restructuring plan.

Alongside Thierry Beaudemoulin and Hubertus Kobe, the Senior Management of Adler Group will consist of four individuals including Sven-Christian Frank as Chief Legal Officer (CLO), and Thomas Echelmeyer as Chief Financial Officer (CFO).

„Thierry Beaudemoulin and the Senior Management have led Adler Group through challenging times and contributed to stabilising the Group. The team has the full confidence of the Board of Directors and will now drive forward the implementation of the restructuring plan while safeguarding the interests of all stakeholders.", says Prof. A. Stefan Kirsten, Chairman of the Board of Directors of Adler Group.

„With Hubertus Kobe, we have gained a leader for Adler Group with extensive experience and expertise in the real estate sector and in managing corporate transformations. We are very much looking forward to working with him," says Thierry Beaudemoulin, CEO of Adler Group.

Subject to approval by the Group's Annual General Meeting (AGM) on 21 June 2023, Thomas Echelmeyer will become Director and member of the Board of Directors in addition to his current role as CFO. The Annual General Meeting will also vote on the appointment of
both Dr. Heiner Arnoldi and Stefan Brendgen as members of the Board of Directors.
Prof. Dr. A. Stefan Kirsten, Thilo Schmid and Thomas Zinnöcker will remain members of the Board of Directors. The Group's Board of Directors will thus consist of seven individuals, five of them independent, with extensive expertise in corporate governance, real estate, finance, restructuring and capital markets, if approved by the Annual General Meeting.

The addition of the CRO position to the Senior Management is part of the restructuring plan that the Adler Group is now implementing following an agreement with the majority of bondholders. As part of its strategic repositioning, Adler Group will evolve into a Berlin-focused residential real estate company with limited project development activities over the next two years.

Thierry Beaudemoulin has almost 30 years of experience in the real estate business. Prior to joining Adler Group, he served as CEO of Covivo Germany and ADO, one of the companies from which Adler Group was formed. In addition to Germany, he has worked in France, the Netherlands, Belgium and Spain.

Hubertus Kobe has worked in the real estate sector for several decades. His previous positions include roles at among others ECE Projektentwicklung, Signa Real Estate Capital Partners and DTZ Zadelhoff Tie Leung / Donaldsons Germany, where he held the position of Partner and CEO Germany. In his career, he has successfully managed the transformation and realignment of companies and organised dialogue with various stakeholders.

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