Peach Property Group AG: Additional proposals at the EGM regarding the composition of the Board of Directors – Resignation of COO Marcus Schmitt

[ Report ]

Zürich (pta030/26.08.2024/23:00) - Ad-hoc announcement pursuant to Art. 53 LR

* Board proposes increase of maximum number of members to six (6)
* Board members Annette Benner and John Ruane proposed from shareholders' side for deselection and subsequent (re-)election
* Urs Meister and Eric Assimakopoulos proposed from shareholders' side as new members
* Chief Operating Officer (COO) Marcus Schmitt to leave the Group as of 31 December 2024

Peach Property Group AG ("Peach Property Group"), a real estate investor focused on residential real estate in Germany, informs about additional proposals regarding the composition of the Board of Directors in view of the Extraordinary General Meeting on September 27, 2024.

Amendment to the Articles of Association to increase the size of the Board of Directors

The Board of Directors proposes to the shareholders to increase the maximum number of members of the Board of Directors from five to six (including the Chairman). By increasing the number of members, Peach Property Group will have greater flexibility with regard to the composition of the Board of Directors.

Deselection and election request of the shareholder H21 Macro Limited

The shareholder H21 Macro Limited, beneficial owner Mr. Rainer-Marc Frey, has specified its request for changes to the composition of the Board of Directors and proposes the deselection of Ms. Annette Benner and Mr. John Philip Ruane. The shareholder then proposes the election of Mr. Urs Meister as a new member of the Board of Directors for a term of office until the conclusion of the 2025 Annual General Meeting.

According to the shareholder, Urs Meister was responsible for managing 5 billion in foreign currencies (EUR, USD, GBP) as a Senior Portfolio Manager Fixed Income at Suva until August 31, 2022. Prior to that, he was Head of Fixed Income at Swiss Life AG from 1998 to 2003. He started his career at Salomon Brothers and JP Morgan. Subsequently, he was a founding partner of RMF Trading AG, specializing in alternative investments. According to the proposing shareholder, Urs Meister also has extensive experience with structured products, derivatives and securities funds. Today, he works as an independent consultant and is a member of several Boards of Directors.

Election proposal of the shareholders Zmex Corporation and Arquus Capital N.V.

The shareholders Zmex Corporation and Arquus Capital N.V., the beneficial owner of both shareholders is Mr. Franciscus Zweegers, propose the election of Mr. Eric Assimakopoulos as a new member of the Board of Directors for a term of office until the conclusion of the 2025 Annual General Meeting.

According to the shareholders, Mr. Eric Assimakopoulos has many years of experience in the real estate sector, particularly as a developer and investor. Since the financial crisis in 2008, Mr. Assimakopoulos has focused particularly on the restructuring and recapitalization of financially distressed real estate projects and investments. He is the founder and Managing Director of Revetas Capital Advisors LLP, a global property investment company. With his experience and expertise, Mr. Eric Assimakopoulos is, in the view of the proposing shareholders, an ideal addition to the Group's Board of Directors.

Election proposal of the shareholder Peak Investment S.a.r.l.

The shareholder Peak Investment S.a.r.l., the beneficial owner is Ares Management Corporation, proposes in the event that Annette Benner is deselected from the Board of Directors the (re-)election of Annette Benner as a member of the Board of Directors for a term of office until the end of the 2025 Annual General Meeting. Furthermore, the shareholder proposes in the event that John Philip Ruane is deselected from the Board of Directors the (re-)election of John Philip Ruane as a member of the Board of Directors for a term of office until the conclusion of the 2025 Annual General Meeting.

Statement of the Board of Director on the shareholder proposals

The Board of Directors does not submit any motions of its own or make any recommendations on the shareholder proposals regarding the deselection and election of new members. Nevertheless, the Board of Directors is convinced that the current composition of the new Board of Directors elected at the Annual General Meeting on May 14, 2024, offers an appropriate diversification in terms of gender, regional origin and expertise. Deselections and elections are held individually for each member.

Resignation of COO Marcus Schmitt

Marcus Schmitt, Chief Operating Officer (COO) and member of the Group's Executive Management, has decided for personal reasons to resign from his position as COO and leave the Group. Mr. Schmitt will leave the Peach Group on 31 December 2024.

The entire Executive Management and the Board of Directors would like to thank him for his great commitment, particularly in the development of the new portfolio strategy and the implementation of initial measures. The Executive Management and Board of Directors wish him all the best, both personally and professionally.

Contacts:

Media, investors and analysts

Gerald Klinck, Chief Executive Officer
+41 44 485 50 00 | investors@peachproperty.com

Media Germany

Feldhoff & Cie, Anke Sostmann, Executive Director
+49 159 04028505 | as@feldhoff-cie.de

About Peach Property Group AG

Peach Property Group is a property investor focused on residential investment in Germany. The group stands for many years of experience, expertise and quality. Innovative solutions for tenants' needs, strong partnerships and a broad value chain complete the profile, while digitalization and sustainability characterize the operational business. The portfolio consists of high-yield properties, typically in German Tier II cities in the catchment areas of major metropolitan areas. Activities therefore cover the entire value chain, from site evaluation and acquisition to active asset management and the letting or sale of properties. In addition, the Group is developing selected properties in Switzerland for sale as condominiums, the latest of which is the "Peninsula Wädenswil" project.

Peach Property Group AG is headquartered in Zurich and has its German headquarters in Cologne. Peach Property Group AG is listed on the SIX Swiss Exchange (PEAN, ISIN CH0118530366). Since the 2024 Annual General Meeting, the Board of Directors has comprised Michael Zahn (Chairman of the Board of Directors), Annette Benner, Cyrill Schneuwly, Beat Frischknecht and John Ruane.

(Ende)