ADLER Real Estate AG: ADLER Real Estate AG resolves buyback of up to EUR 200,000,000 aggregate principal amount of existing notes to be financed via the issuance of new unsubordinated unsecured notes

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pursuant to Article 17 of Regulation (EU) No. 596/2014

ADLER Real Estate AG resolves buyback of up to EUR 200,000,000 aggregate principal amount of existing notes to be financed via the issuance of new unsubordinated unsecured notes

Berlin, 19 April 2018 - The management board of ADLER Real Estate AG today resolved subject to the consent of the supervisory board to commence a cash tender offer to the holders of its EUR 500,000,000 4.75% Notes due 2020 (ISIN XS1211417362) to repurchase up to EUR 200,000,000 aggregate principal amount. The offer period will be seven business days and is expected to close on 27 April 2017, 5.00 pm (CEST), subject to an extension or shortening.

The tender offer is expected to be financed with the partial proceeds from the issuance of potentially dual-tranche unsubordinated, unsecured euro-denominated notes under German law with indicative maturities of 5 and 8 years, respectively (the new notes), which were launched simultaneously to the tender offer. The closing of the tender offer is subject to certain conditions including the successful closing of the issuance of the new notes. The indicative repurchase price is 104.385% or EUR 1,043.85 per EUR 1,000 denomination.

The measures aim to improve the company's Weighted Average Maturity ("WAM"), improve our FFO, Cost of Debt and other key financial ratios and accelerate the path to Investment Grade.

ADLER Real Estate AG

Management Board

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