Retail Estates: 06/10/2021 – Contribution Agreement

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PRESS RELEASE

Regulatory information

Ternat, October 6, 2021

RETAIL ESTATES RESUMES ITS GROWTH AFTER THE CORONA BREAK THANKS TO A CAPITAL INCREASE AND NEW INVESTMENTS IN THE EXPANSION OF ITS REAL ESTATE PORTFOLIO.

THE CONTRIBUTION AGREEMENT WITH SHOPINVEST NV WILL RESULT IN AN IN-KIND CONTRIBUTION OF EUR 35,856,125.00 FROM A BUSINESS PORTFOLIO CONSISTING OF 27 COMMERCIAL ASSETS. THROUGH THE IN-KIND CONTRIBUTION, SHOPINVEST WILL EXCEED THE 3% TRANSPARENCY THRESHOLD IN RETAIL ESTATES SHAREHOLDING AND JOIN ITS REFERENCE SHAREHOLDERS.

CONTRIBUTION AGREEMENT

On October 5, 2021, Retail Estates entered into a contribution agreement with NV De Vleterbeek, a 100% subsidiary of the family-owned Shopinvest investment group, which, after approval by the FSMA, will lead to a short-term contribution in kind for a value of EUR 35,856,125.00. Within the framework of the authorized capital, the Board of Directors will issue 560,689 new shares in consideration for this contribution at the issue price of 63.95 euros per new share. The new shares are issued with coupon no. 30 attached and will thus participate in the profits of the current financial year which began on April 1, 2021. Their listing on Euronext Brussels and Euronext Amsterdam will be requested.

The real estate portfolio consists of 27 commercial properties spread over 17 sites, the vast majority of which are adjacent to sites where Retail Estates has already formed a cluster. The annual rent collection amounts to EUR

2.42 million, which represents an average rent of 91.32 euros per square meter. Commercial buildings are mainly located in Flanders (23 out of a total of 27). With the exception of 2 vacant stores, all commercial premises are let to national brands. The real estate expert CBRE determined the investment value at 35,856,125.00 EUR and the fair value at 34,981,586.00 EUR. The collection of rents represents an initial return of 6.44% on the investment value. Further details will be announced after the completion of the contribution which will take place later this month after approval by the FSMA.

Shopinvest NV is the family investment company of the Kaesteker family. This family has been one of the pioneers of peripheral commerce in Belgium since 1978, with the expansion of the e5-mode retail business, which it owned until 2019. The real estate portfolio of its subsidiary De Vleterbeek has grown with success during this period. in locations that belong to core business areas within peripheral retail. By contributing its entire retail portfolio, Shopinvest wishes to confirm its confidence in Retail Estates and further support the growth of Retail Estates in the continuity of the good relations it has maintained with Retail Estates and its management for many years.

ABOUT RETAIL ESTATES NV

The Belgian public property investment fund Retail Estates sa is a niche player specializing in providing users with commercial buildings on the outskirts of residential areas or along the main access routes to urban centers. Real Estates NV acquires these buildings from third parties or constructs and markets commercial buildings for its own account. The buildings have useful surfaces of between 500 m² and 3000 m². A typical commercial building has an average area of ​​1000 m².

As of June 30, 2021, Retail Estates sa had 988 buildings in its portfolio with a total retail area of ​​1,163,725 m² m², spread over Belgium and the Netherlands. The occupancy rate of the entire portfolio is 97.22% as of June 30, 2021, compared to 97.07% as of March 31, 2021.

The fair value of the consolidated real estate portfolio of Retail Estates NV as of June 30, 2021 is estimated at € 1,702.90 million by independent real estate experts.

Retail Estates NV is listed on Euronext Brussels and Euronext Amsterdam and is registered as a public regulated real estate company.

FORWARD-LOOKING STATEMENTS

This press release contains a number of forward-looking statements. Such statements are subject to risks and uncertainties which may lead to actual results materially different from the results which could be assumed in this press release on the basis of these forward-looking statements. The main factors likely to influence these results are the evolution of the economic situation, commercial, fiscal and environmental factors.

Ternat, October 6, 2021

Jan De Nys, CEO of Retail Estates nv

For more information please contact:

Retail Estates nv, Jan De Nys – CEO, tel. +32 2/568 10 20 – +32 475/27 84 12 Retail

Estates sa, Kara De Smet – CFO, tel. +32 2/568 10 20

Disclaimer

Retail Estates SA published this content on 06 October 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 06 October 2021 05:15:01 AM UTC.


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