Andreas Steyer, Chief Executive Officer (CEO) and Benjamin Lee, Chief Financial Officer (CFO), have left the Management Board of Consus Real Estate AG (Consus).

Andreas Steyer was responsible for the strategic direction, commercial development and the organization of Consus into one of the leading project development companies in Germany. In his two and a half years in office, he has in addition to their highly complex acquisitions, successfully completed the integration of SSN Group AG and CG Group AG and developed the Consus brand into a company known and respected on the capital market.

Benjamin Lee was responsible for Consus' transition to the equity and debt capital markets, including the acquisition financing of SSN Group, and subsequent issuance of EUR 450m of bonds. He introduced IFRS accounting and quarterly reporting, costly mezzanine debt was substantially reduced, and the company received its inaugural credit ratings.

"Andreas Steyer has led the company to this success with strategic straightforwardness and consistency, and Benjamin has financed the strategy and positioned it expertly and sustainably with investors. Without Andreas and Benjamin, the implementation of this great vision would not have been possible. We deeply regret their departure from the company and wish them all the best in their private and professional lives and continued success." commented Axel Harloff, Chairman of the Supervisory Board of Consus.

 "By merging with Ado Properties S.A. and Adler Real Estate AG to form Adler Group AG, Consus is becoming an important part of one of the leading fully integrated real estate groups in Germany and Europe. We have managed to develop Consus into an attractive real estate partner within a short period of time," Andreas Steyer and Benjamin Lee are pleased to report. "We would like to thank all employees and our team for excellent accompaniment us in this sprint and wish the board of the future Adler Group AG much success."

About Consus Real Estate AG
Consus Real Estate AG ("Consus"), with its headquarters in Berlin, is the leading real estate developer in the top 9 cities in Germany. As of 31 March
2020, Consus' development portfolio had a gross development value (GDV) of EUR 12.3 billion. Pro forma for the two upfront sales announced in May 2020, the development portfolio has a GDV of EUR 8.0 billion. Consus focuses on the development of neighbourhoods and standardised multi-storey residential construction, which are sold to institutional investors through forward sales. Due to its own construction expertise and the digitalisation of construction processes, Consus operates along the entire value chain of real estate development. Consus provides the realization of projects from planning and execution to handover, property management and related services through its subsidiaries Consus RE AG and Consus Swiss Finance AG. The shares of Consus are included in the scale segment of the Frankfurt Stock Exchange and the m:access segment of the Munich Stock Exchange and are traded via XETRA in Frankfurt, among others.




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