DEUTSCHE KONSUM REIT-AG - Notice of Dividend Currency Exchange Rate (South African Rand)

Notice of Dividend Currency Exchange Rate (South African Rand)

DEUTSCHE KONSUM REIT-AG
(Incorporated in the Federal Republic of Germany)
(Registration number HRB 13072)
FSE Share Code: A14KRD
JSE Share Code: DKR
ISIN: DE000A14KRD3
LEI: 529900QXC6TDASMCSU89
(“DKR” or “the Company”)

NOTICE OF DIVIDEND CURRENCY EXCHANGE RATE (SOUTH AFRICAN RAND)

Shareholders are referred to the dividend announcement released on SENS on Monday, 8 March
2021. In respect of the year ending 30 September 2020 the management board and the supervisory
board of the Company have proposed a dividend distribution of Euro 0.40 per share for a total
amount of EUR 14 million, which is subject to shareholder approval at the next (virtual) annual
general meeting of the Company to be held on 11 March 2021. In South Africa, the last day to trade
will be Wednesday, 10 March 2021 and the ex-dividend date will be Thursday, 11 March 2021 (and not
Friday, 12 March 2021 as previously announced).

The dividend will be paid in Euro to shareholders on the German register and Rand to shareholders
on the South African register. The currency exchange rate applicable for the dividend payable in
South African cents to shareholders on the South African register is based on the exchange rate on
9 March 2021 and is set out below:

Declared dividend             Exchange rate                 Dividend in South
                                                            African cents per share

Euro 0.4 per share            18.30749                      732.29960


Shares cannot be moved between the South African register and the German register between
Thursday, 11 March 2021 and Monday, 15 March 2021, both days inclusive. Shares may not be
dematerialised or rematerialised in South Africa between Thursday, 11 March 2021 and Monday, 15
March 2021, both days inclusive.

The Company has a total of 35,155,938 shares in issue on the date of this announcement. The
dividend will be distributed by the Company (German tax registration number 046/100/02493) and
is regarded as a foreign dividend for South African resident shareholders on the JSE.

In accordance with German tax laws, DKR’s gross dividend distribution is subject to dividend
withholding tax (“German DWT”) at a rate of 25%, plus a solidarity surcharge equal to 5.5% of the
25% German DWT (“Surcharge”), which equates to an effective rate of 26.375%.

In accordance with the double taxation agreement between Germany and South Africa (“DTA”), upon
application to the German Federal Central Tax Office, South African resident shareholders on the
JSE will be reimbursed 10% of the German DWT and the Surcharge (“German Tax Reimbursement”), 
reducing the effective rate to 15%.

Accordingly, South African resident shareholders on the JSE who are exempt from South African
dividend withholding tax (“SA DWT”) will, after receiving the German Tax Reimbursement, be subject
to an effective dividend withholding tax rate of 15%. This will equate to a gross dividend of 732.29960
cents per share, a net dividend of 622.45466 cents per share if the German Tax Reimbursement is
claimed and a net dividend of 539.15558 cents per share if the German Tax Reimbursement is not
claimed.

South African resident shareholders on the JSE who are not exempt from SA DWT will be subject
to South African dividend withholding tax at a rate of 20%, however such shareholders will qualify
for a 15% reduction in SA DWT. The ultimate result in such case is that the dividend will be subject
to the reduced German DWT rate of 15% and SA DWT rate of 5%. The SA DWT rate of 5% will be
applicable even if the German Tax Reimbursement is not claimed. This will equate to a gross
dividend of 732.29960 cents per share, a net dividend of 585.83968 cents per share if the German
Tax Reimbursement is claimed and a net dividend of 502.54060 cents per share if the German Tax
Reimbursement is not claimed.

DKR has a primary listing on the Prime Standard on the Frankfurt Stock Exchange and the Berlin
Stock Exchange and a secondary listing on the JSE.

9 March 2021

PSG Capital: JSE Sponsor

Date: 09-03-2021 05:45:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.