Press Release

HAMBORNER REIT AG sets course for the future - Niclas Karoff appointed as Chief Executive Officer

Duisburg, 23 January 2020 - At its meeting today, the Supervisory Board of HAMBORNER REIT AG unanimously resolved to appoint Mr Niclas Karoff as Chief Executive Officer with effect from 1 March 2020 and thereby expand the Management Board. The decision was made in the context of early, strategically oriented succession planning. With this new appointment, the plan pursued by the current Management Board for the successful development of the company will gain added momentum.

Niclas Karoff (48) has many years of experience in the property industry, most recently serving as a Management Board member and managing director of another SDAX-listed company, TLG IMMOBILIEN AG, for more than eight years. His previous career positions included various management roles within the HSH Nordbank Group (now Hamburg Commercial Bank) and at the auditing firm BDO.

Bärbel Schomberg, chairwoman of the company's Supervisory Board, comments: "We are delighted to have gained a proven property and capital market expert in Mr Karoff. His experience and expertise will play an important role in helping the company set the course for the future."

"HAMBORNER REIT AG has significantly expanded its high-quality property portfolio in recent years. Based on the associated economic success, I am very pleased to take on the task of helping to shape the targeted dynamic development of the company in a position of responsibility," says the future Management Board chairman Niclas Karoff.

"Mr Karoff has demonstrated his expertise in many different career positions. We look forward to working with him and are confident that we will continue the company's successful growth together," said the members of HAMBORNER's Management Board Dr Rüdiger Mrotzek and Hans Richard Schmitz.

About HAMBORNER REIT AG

HAMBORNER REIT AG is a public company listed in the SDAX that operates exclusively in the property sector and is positioned as a portfolio holder for high-yield commercial properties. The company generates sustainable rental income on the basis of a diversified portfolio of properties distributed throughout Germany with a total value of more than €1.5 billion. The portfolio focuses on profitable office properties as well as local supply properties as large-scale retail assets, retail parks, DIY stores and attractive high street properties in major German cities and mid-sized centres.

HAMBORNER REIT AG is distinguished by its many years of experience on the property and capital market, its consistent and sustainable dividend policy and its lean and transparent corporate structure. The company is a registered real estate investment trust (REIT) and benefits from corporation and trade tax exemption at company level.

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Christoph Heitmann
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