Supervisory Board of The Grounds appoints Andrew Wallis as Chief Financial Officer (CFO) of the company

• Real estate and financing professional with extensive industry knowledge
  and many years of management experience
• Thus in future the Management Board will again consist of two members

Berlin, 26 February 2025 – The Supervisory Board of The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A40KXL9) has appointed Andrew Wallis as Chief Financial Officer (CFO) of the company with effect from 1 March 2025. In future, Wallis will manage the company together with Jacopo Mingazzini (CEO), who had temporarily managed the business alone since May 2023.

Andrew Wallis has worked for Merrill Lynch, JP Morgan and HSBC, among others. He was Deputy CEO of Aroundtown S. A. in Berlin from 2014 to 2020. Since 2020, he has acted as a consultant on a number of M&A projects, and took on operational restructuring mandates in which he assumed interim management or board responsibility in the companies involved on several occasions.

Dr Peter Maser, Chairman of the Supervisory Board of The Grounds, commenting on the appointment of Wallis, says: “With Andrew Wallis, we have been able to gain for The Grounds an expert on real estate and financing with over 30 years of professional experience, who not only has extensive knowledge of the industry sector, but also many years of management experience from various property companies at the same time. We have thus expanded the Management Board back to its original size of two people, and have set an important course for the continuing growth of The Grounds.”

Company contact:
The Grounds Real Estate Development AG
Jacopo Mingazzini, member of the Management Board
Charlottenstrasse 79 - 80, 10117 Berlin, Germany
Tel.: +49 (0) 30 2021 6866
Fax: +49 (0) 30 2021 6849
E-mail: info@tgd.ag
Web: www.thegroundsag.com

Investor relations:
UBJ GmbH
Ingo Janssen, Managing Director
Haus der Wirtschaft, Kapstadtring 10
22297 Hamburg, Germany
Tel.: +49 (0) 40 6378 5410
E-mail: ir@ubj.de
Web: www.ubj.de

Press contact:
RUECKERCONSULT GmbH
Peter Dietze-Felberg
Wallstrasse 16
10179 Berlin, Germany
Tel.: +49 (0) 30 284 49 87 62
E-mail: dietze@rueckerconsult.de
Web: www.rueckerconsult.de

About The Grounds
The Grounds Group implements housing projects in German metropolitan regions. Moreover, The Grounds Group holds a steadily growing residential portfolio in its fixed assets. The Grounds Real Estate Development AG is quoted in the upper open market segment of the primary market of Düsseldorf Stock Exchange (ISIN: DE000A40KXL9), and has its headquarters in Berlin.