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Starwood does not intend to accept the current Vonovia Offer in relation to its Class A and B shares

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  • Starwood confirms that settlement in the Offer commenced on 11 June 2018.
  • The outcome of the Offer entails that Starwood controls 24.4 per cent of all shares and 32.1 per cent of all votes in Victoria Park.
  • Starwood informs that it does not intend to accept the current Vonovia Offer in relation to its Class A and B shares.

On 1 April 2018, Starwood Global Opportunity Fund XI, managed by Starwood Capital Group ("Starwood"), through its wholly owned subsidiary HomeStar InvestCo AB ("HomeStar InvestCo"), announced a public cash offer to the shareholders of Victoria Park AB (publ) ("Victoria Park") at a price of SEK 34.00[1] in cash per each Class A and Class B share and SEK 315.00 in cash per each preference share (the "Offer").

The outcome of the finalised Offer entails that HomeStar InvestCo controls a total of 27,074,397 Class A, 32,486,304 Class B and 180,348 preference shares, corresponding to 24.4 per cent of all shares and 32.1 per cent of all votes in Victoria Park.

On 3 May 2018, Vonovia SE, through its wholly-owned subsidiary Deutsche Annington Acquisition Holding GmbH, announced a public cash offer to the shareholders of Victoria Park at a price of SEK 38.00 in cash per each Class A and Class B share and SEK 316.00 in cash per each preference share and with an acceptance period ending on 18 June 2018 (the "Vonovia Offer").[2] Starwood does not intend to accept the Vonovia Offer as it currently stands in relation to its Class A and B shares.

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For additional information please contact:

Information of the Offer is also available on the website for HomeStar InvestCo, www.homestarinvestco.com.

Starwood contact for media and investors

Tom Johnson / Patrick Tucker +1 (212) 371-5999, tbj@abmac.com / pct@abmac.com

Contact for Swedish media and investors

JKL, +46 735 89 23 01, carl.hemeren@jklgroup.com

This press release was submitted for publication on 14 June 2018 at 12:00 CET.

IMPORTANT INFORMATION

This is a translation of the original Swedish language press release. In the event of discrepancies, the original Swedish wording shall prevail.

[1] On 1 April 2018, Starwood announced a public cash offer with a consideration for the A and B shares amounting to SEK 34.40 in cash per Class A and Class B share adjusted for any dividends paid or other value transfers executed to shareholders of Class A and B shares for which the record date for such shares occurs before settlement in the Offer. The 2018 annual general meeting resolved on a dividend distribution of SEK 0.40 per ordinary share of Class A and Class B with record date 26 April 2018. The cash consideration for the Class A and Class B shares has due to the aforementioned dividend payment been adjusted downwards from SEK 34.40 to SEK 34.00.             

[2] If Victoria Park pays dividends or makes any other distributions to shareholders, for which the record date occurs prior to the settlement of the Vonovia Offer, the price will be reduced accordingly.

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