Profile

alstria office REIT-AG is a German stock corporation in the legal form of a Real Estate Investment Trust (REIT), which invests in office real estate in the major German economic centers. REITs are long-term portfolio holders of real estate assets and are characterized by solid balance sheet structures and high payout ratios. The legal basis for German REITs can be found in the REIT Act. As a fully integrated company, we manage our properties throughout their life cycle. From the acquisition to letting, ongoing management, modernization up to the possible sale we possess all expertise around the property.

Our corporate strategy is based on three pillars:

LETTING

We hold real estate for long-term letting. In this way, we achieve stable and predictable rental income that generates steady corporate profits. This profit is the foundation for the distribution of attractive long-term dividends to our shareholders.

MODERNIZATION

We continuously invest in the quality of our properties and create modern office space that will remain attractive for our tenants in the long term. The continuous quality improvement increases the company value permanently.

GROWTH

Through selective acquisitions, we continuously expand our portfolio and generate steady corporate growth. The increase and optimization of our portfolio furthermore creates synergies in the management of our assets.

OURPORTFOLIO

alstria owns and manages a high-quality portfolio of office properties in the major German office centers. Due to our local presence and many years of experience, our team has in-depth market knowledge and develops detailed concepts for each individual building. Modernizing the properties is an substantial part of our integrated business model, on the basis of which we create consistent value.

OURFinancial Structure

We have a solid balance sheet, access to various sources of finance and our business model is very profitable. In recent years, we have built a strong reputation in the capital markets through transparent, reliable and continuous communication and positioned alstria as a solid investment target for investors.

OURTEAM

Committed, qualified and motivated employees are the basis of a successful company. We offer real estate experts, merchants, architects, engineers, designers and many other professions opportunities for their personal development. Our culture is entrepreneurial and collegial, with the aim of exceeding our own expectations.

ManagementBoard

The Management Board manages the operating business and is responsible for the strategic development of the company.

Chief Executive Officer (CEO)

Chief Financial Officer (CFO)

Olivier Elamine

First appointed
2006

Term expires
2022

Personal information
Residence: Hamburg, Germany
Birthday: October 1972

Career
Olivier Elamine is one of the founding members of alstria and became CEO of the Company in November 2006.

Prior to the founding of alstria, he was a Partner of NATIXIS Capital Partners Ltd. (NCP; formerly IXIS Capital Partners) from 2003 to 2006. Here he participated in more than EUR 6 billion of pan-European real estate transactions and led the acquisition of the Barmer and Stadt Hamburg portfolios.

In 2003, Olivier Elamine joined the Real Estate Investment Banking team at CDC IXIS as a Director and was one of the founding members of NATIXIS Capital Partners Ltd.

In 1998 Olivier Elamine joined Ernst & Young as a consultant in the real estate industry and from 2000 to 2003 he headed the Sales & Leaseback advisory team.

From 1996 to 1998, he worked at the French Embassy in Morocco.

Education
Olivier Elamine holds a civil engineering degree in Real Estate and Construction from the Ecole National des Travaux Publics de l’Etat, Lyon and a Master in Building and Construction Science from the Institut National des Sciences Apliquées, Lyon.

Alexander Dexne

First appointed
2007

Term expires
2022

Personal information
Residence: Hamburg, Germany
Birthday: April 1965

Career
Alexander Dexne is CFO of alstria since June 2007.
Prior to joining alstria, Alexander Dexne was CFO of MediGene AG and General Manager Finance at Olympus Optical (Europa).

Education
Alexander Dexne holds a master´s degree (Diplom-Volkswirt) in Economics from the University of Göttingen and an MBA from Massey University in New Zealand.

SUPERVISORY BOARD

The Supervisory Board appoints the Management Board and is the controlling committee of the Company. Members elected by the Annual General Meeting form the Supervisory Board, whose main tasks are to advise and monitor the Management Board.

Chairman of the supervisory board,Lawyer and partner at Freshfields Bruckhaus Deringer LLP

Vice chairman of the supervisory board, Director at Starr Street Limited, United Kingdom

Executive consultant

Dr. Johannes Conradi

Member since
2007

Term expires
2020

Personal information
Residence: Hamburg, Germany
Birthday: September 1962
Nationality: German

Career
Since many years, Dr Conradi is rendering legal advice on real estate business and is heading the international real estate practice of Freshfields Bruckhaus Deringer. His clients include both domestic and international investors, corporates, developers, financial institutions and public sector entities. He offers legal advice on the full spectrum of real estate issues, in particular real estate transactions, project developments, real estate finance and joint ventures.

Other material activities
• Global Head of Real Estate, Member of the German Management Group at Freshfields Bruckhaus Deringer LLP
• Member of the supervisory board of HamburgMusik gGmbH
• Member of the advisory board Elbphilharmonie und Laeiszhalle Betriebsgesellschaft mbH

as per January 1, 2019

Richard Mully

Member since
2007

Term expires
2022

Personal information
Residence: Cobham (Surrey), United Kingdom
Birthday: July 1961
Nationality: British

Career
1992 to 1998 Founder and Head of Bankers Trust’s European Real Estate Investment Banking Group, USA, responsible for the management of all aspects of this business; 1998 to 2000 Chief Executive Officer of European Property Partners Limited, United Kingdom, and Managing Director and Head of European Merchant Banking for Prudential Insurance Company of America, USA; 2000 to 2011 Co-Founder and Managing Partner of Grove International Partners LLP, USA, responsible for investment strategy and management in Europe; 2008 to 2009 Member of Supervisory Board of Hypo Real Estate Holding AG.

Education
Graduated in Economics (BS) from University College London, United Kingdom;
Master’s degree (MBA) in Finance from Cass Business School, United Kingdom

Other material activities
• Director at Arlington Business Parks LLC, United Kingdom
• Non-executive chairman at Great Portland Estates PLC, United Kingdom
• Senior advisor to TPG Europe LLC, United Kingdom

as per June 28, 2019

Dr Bernhard Düttmann

Member since
2017

Term expires
2021

Personal information
Residence: Meerbusch, Deutschland
Birthday: September 1959
Nationality: German

Career
1989 to 1994 Beiersdorf AG in Hamburg: Controlling, Sales and Marketing; 1995 to 1999 Vice President Finance & Controlling FP-Beiersdorf in Singapore; 1999 to 2001 tesa AG in Hamburg: Controlling; 2001 to 2006 CFO tesa AG in Hamburg; 2006 to 2011 CFO / Management Board Member for Latin America, Beiersdorf AG, Hamburg; 2011 to 2015 CFO Lanxess AG, Cologne; Since 2015 Mr Düttmann focusses on directorships.

Education
1980 to 1985 academic studies at the faculty of Economics and Social Sciences at the University of Cologne (Dipl-Kfm) followed by doctoral studies at the university of Cologne until 1989 (Dr. rer. pol.)

Others
Since 2015 direction of practical workshop at University of Cologne

Other material acitivities
• Member of the supervisory board at CECONOMY AG
• Member of the supervisory board of Vossloh AG

as per January 1, 2019

Member of the Management Board of Familienstiftung Becker & Kries

Managing Director at Chambres de l’Artémise S.à r.l., France

Managing Director at bettermarks GmbH

Stefanie Frensch

Member since
2016

Term expires
2021

Personal information
Residence: Berlin, Deutschland
Birthday: November 1969
Nationality: German

Career
1995 to 1996 Institute for Solar Energy Systems at Fraunhofer Gesellschaft, Freiburg, Assistant; 1996/1997 ARCHIS Architekturbüro in Karlsruhe, Project Leader; 1997 to 2011 Arthur Andersen Real Estate/Ernst & Young Real Estate; from 2000 Authorized Officer, from 2007 Partner; 2011 to 2019 Managing Director at HOWOGE Wohnungsbaugesellschaft mbH, Berlin;

2011 to 2019, Ms Frensch was Managing Director at HOWOGE Wohnungsbaugesellschaft mbH, Berlin. She was responsible for the Portfolio Management, Property Management and the New Construction Branch as well as for the Technical Branch, Corporate Communications and Compliance.

In 2019, Ms Frensch was appointed as member of the management board of Familienstiftung Becker & Kries. She is responsible for acquisitions, technical management, development and construction as well as for accounting, finance, tax and fund management.

Education
2000 Master’s Degree in Real Estate Economics, European Business School (EBS) Oestrich-Winkel;
1995 Master’s Degree in Architectural Studies, University of Applied Sciences of Karlsruhe (FH).

Others
2003 to 2005 guest professorship at HTWG Konstanz (Konstanz University of Applied Sciences).

Other material activities
None

as per April 1, 2019

Benoît Hérault

Member since
2012

Term expires
2019

Personal information
Residence: Uzès, France
Birthday: May 1967
Nationality: French

Career
1992 admission to bar; 1990 to 1996 lawyer with Gide Loyrette Nouel in Paris, France; 1996 to 2000 General Counsel and vice-CEO with Archon Group France in Paris, France; 2000 to 2011 European CFO of Whitehall Funds (Goldman Sachs) in London and member of the Audit, Business Practices and Compliance Committees of Goldman Sachs, London, United Kingdom.

As CFO of the Whitehall Funds Mr Benoît Hérault was responsible for arranging debt financings as well as for acquisitions of asset portfolios in Germany and Europe.

Education
1989 MBA from HEC Paris, France;
1991 LL.M. an der Université Paris II Panthéon-Assas, Frankreich.

Other material activities
• Independent director of Batipart Immo Long Terme, Luxembourg
• Independent director of Shaftsbury Fund Management, Luxembourg
• Senior advisor for Batipart Immo Long Terme, Spain
• Senior advisor for Westbrook Real Estate, France

as per May 23, 2019

Marianne Voigt

Member since
2011

Term expires
2020

Personal information
Residence: Berlin, Germany
Birthday: March 1966
Nationality: German

Career
1993 to 1999 with VEBA group in the controlling and finance Division, at last as assistant to the CFO with VEBA AG in Düsseldorf; 1999 to 2008 CFO/COO with ImmobilienScout in Berlin; since 2008 start-up and development of bettermarks, an innovative online learning system for mathematics.

As CFO/COO of ImmobilienScout Ms Marianne Voigt was responsible for the development of the company, the IT operations and IT developments, the execution of capital measures and for the controlling and finance.

Education
Apprenticeship in banking with B. Metzler;
1992 degree at WHU Koblenz.

Other material activites
• BDO AG Wirtschaftsprüfungsgesellschaft: Member of the Supervisory Board
• Member of the advisory board of DISQ Deutsches Institut für Service-Qualität GmbH & Co. KG

as per January 1, 2019

AUSSCHUSS	MITGLIEDER
Audit Commitee	Marianne Voigt (chairman) Dr. Bernhard Düttmann Benoît Hérault
Finance & Investment Committee	Richard Mully (chairman) Dr. Bernhard Düttmann Stefanie Frensch
Nomination & Remuneration Committee	Dr. Johannes Conradi (chairman) Stefanie Frensch Benoît Hérault
CSR Committee	Dr. Johannes Conradi (chairman) Richard Mully Marianne Voigt

CorporateGovernance

The core values of integrity, respect, performance, accountability and sustainability are deeply rooted in our corporate culture. Responsible, transparent management and control of the company guarantee the highest standards. Ethical conduct is the indispensable basis for the trust that our investors, tenants, business partners, employees and the public place in our company.

Articles of Association

The Articles of Association regulate the corporate law basis of our company.

Articles of Association alstria office REIT-AG
as of 11th June 2019

Statement of Compliance

Once a year, the Management Board and the Supervisory Board of alstria declare that the recommendation of the GCGC were compiled with or which recommendations were not and are not being applied, and why not.

The corporate governance statement contains all relevant information on corporate governance practices and a description of the working methods of the Management Board and Supervisory Board and their committees.

2019

2018

DirectorsDealings

The directors’ dealings include the management’s own dealings in shares or debt securities of the company, which have been notified to the company and to the Federal Agency for Financial Services Supervision (BaFin).

Directors Dealings
As of August 30, 2019

Overview of the total number of company’s shares held by members of the Management Board and Supervisory Board.

As of August 30, 2019

Inhaber	Anzahl Aktien
Olivier Elamine	82143
Alexander Dexne	42453
Dr. Johannes Conradi	25000
Richard Mully	10000
Dr. Bernhard Düttmann	5350
Stefanie Frensch	3870
Benoît Hérault	5500
Marianne Voigt	5600