DGAP-Adhoc: Deutsche Beteiligungs AG (ISIN: DE000A1TNUT7 / WKN: A1TNUT): Publication of new forecast for the financial year 2021/2022

Disclosure of inside information pursuant to Article 17 (1)
of Regulation (EU) 596/2014 on Market Abuse

Deutsche Beteiligungs AG (ISIN: DE000A1TNUT7 / WKN: A1TNUT): Publication of new forecast for the
financial year 2021/2022

The outbreak of war in the Ukraine during the second quarter of the current financial year 2021/2022 has had a significant impact on the macroeconomic development and capital market valuations. As a result, Deutsche Beteiligungs AG ("DBAG") withdrew its forecast for the current financial year on 7 March 2022. The valuation of DBAG's portfolio is a key driver for net income. Changes in capital market multiples for peer-group companies have had a clearly negative impact on gross gains and losses on measurement and disposal for the first half of the financial year 2021/2022 (ending on 31 March 2022). It has become clear that rising energy and raw material prices as well as supply chain disruptions will have a stronger influence on some DBAG portfolio companies, making it unlikely that these companies will reach their targets. Based on preliminary figures, the net asset value of Private Equity Investments at the end of the first half of the financial year stood at approximately 640 million euros; preliminary net income for the period amounted to approximately -35 million euros.

Based on these new insights, and taking planned disposals into account, DBAG has issued a new forecast. According to this, the net asset value of Private Equity Investments as at 30 September 2022 is expected in a range between 620.0 and 695.0 million euros. Full-year earnings from Fund Investment Services are forecast in a range of 14.0 to 16.0 million euros. The factors influencing net asset value, as described above, tend to have the same impact on net income, which is expected in a range between -15.0 and -25.0 million euros for the full year. DBAG is currently in the process of preparing its interim financial statements for the first half of the financial year as at 31 March 2022, which are scheduled to be published on 12 May 2022.

Once again, DBAG would like to point out that the results of a single quarter are strongly influenced by valuation levels on the capital markets prevailing on the respective quarterly reporting date. The current forecast is based on valuations as at 31 March 2022; valuation levels at the end of the financial year on 30 September 2022 may be higher or lower.

The Board of Management

Frankfurt/Main, 20 April 2022

Reporting person: Roland Rapelius, Head of Investor Relations