Affirmation by the Legal Representatives Affirmation by the Legal Representatives To the best of our knowledge, and in accordance with applicable reporting principles for annual financial reporting, the annual finan- cial statements give a true and fair view of the assets, liabilities, financial position and earnings situation of the company, and the management report of the company includes a fair review of the development and performance of the business and the position of the company, together with a description of the principal oppor- tunities and risks associated with the anticipated development of the company. Munich, 9 February, 2016 MÜNCHENER HYPOTHEKENBANK eG The Board of Management Dr. Louis Hagen Bernhard Heinlein Michael Jung 81