DGAP-PVR: Godewind Immobilien AG: Release according to Article 40, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution

Notification pursuant to Sec.43 of the German Securities Trading Act

Dear Sirs,

Referring to the voting rights notification dated 11 April 2018 notifying that we, Morgan Stanley, Wilmington Delaware, USA, have exceeded the threshold of 10% of the voting rights in Godewind Immobilien AG, we hereby make the following notification pursuant to the Sec.43 of the German Securities Trading Act (Wertpapierhandelsgesetz):

1. The acquisition of voting rights resulting in Morgan Stanley exceeding the notification threshold of 10% of the voting rights in Godewind Immobilien AG did not serve the purpose of strategic goals; rather it was made in the context of client facilitation.

2. Morgan Stanley may in the next 12 months acquire further voting rights in Godewind Immobilien AG, in particular in the context of client facilitation.

3. Morgan Stanley does not intend to influence the composition of the management board, supervisory board or any other administrative body of Godewind Immobilien AG.

4. Morgan Stanley does not intend to cause a significant change in the capital structure of Godewind Immobilien AG, in particular not of the ratio between equity and debt financing and the dividend policy.

5. The acquisition of voting rights resulting in Morgan Stanley exceeding the notification threshold of 10% of the voting rights in Godewind Immobilien AG resulted from and/or was made in the context of client facilitation. The acquisition was financed by a combination of external and Morgan Stanley own funds.

Your sincerely,

Signed: Craig Horsley

Craig Horsley, Vice President,

Regulatory Operations