CORESTATE Capital S A : ´s Annual General Meeting appoints a new Supervisory Board – Georg Allendorf elected Chairman of the Supervisory Board

Frankfurt, 5 June 2020. CORESTATE Capital Holding S.A. (CORESTATE), a leading European real estate investment manager, today elected a new Supervisory Board at its online Annual General Meeting. Dr. Georg Allendorf, Dr. Gabriele Apfelbacher, Timothy Blackwell, Marc Drießen and Olaf Klinger have been appointed members of the Supervisory Board. At the subsequent constituent meeting, Dr. Georg Allendorf was unanimously elected the new Chairman of the Supervisory Board, Timothy Blackwell as his Deputy and Olaf Klinger as Chairman of the Audit Committee.

Dr. Georg Allendorf comments: 'I am very much looking forward to bringing my previous experience in institutional real estate and asset management to such a dynamic company. Despite the current challenges that CORESTATE also has to deal with responsibly, I believe that the fundamental market drivers such as urbanization, demographic changes, demand for contemporary living space and, above all, the continuing high demand for profitable investment solutions in a zero-interest environment are fully in tune. In particular, larger companies who provide innovative and tailored product answers in addition to professional service will emerge from this crisis significantly stronger.'

Lars Schnidrig, CEO CORESTATE: 'The extensive and long-standing expertise of our new Supervisory Board members will provide us with important strategic impetus in the future. Furthermore, the enlargement of the Supervisory Board goes hand in hand with a consistent evolution of our standards in corporate
governance and transparency.' Schnidrig adds: 'Today's step of not paying a dividend for the past fiscal year as a one-off event was not easy for us, however it does ensure the necessary security and entrepreneurial flexibility for the coming quarters. This will allow us to position CORESTATE in the best possible way for the period after the crisis so that it can then return to its accustomed attractive levels of growth and profitability.'