Aedifica SA

M&A Activity • Jan 18, 2016

18 January 2016 – after closing of markets Under embargo until 17:40 CET

AEDIFICA

Public limited liability company Public regulated real estate company under Belgian law Registered office: avenue Louise 331-333, 1050 Brussels Enterprise number: 0877.248.501 (RLE Brussels) (the "Company")

Acquisition of a rest home in Husum (Germany)

• 1 rest home in Schleswig-Holstein, totalling 65 single rooms and 18 assisted-living apartments
• Contractual value: approx. €7 million
• Initial gross rental yield: approx. 7 %
• Operator: a subsidiary of Deutsches Rotes Kreuz Kreisverband Nordfriesland e. V.
• Once the outstanding conditions are lifted, Aedifica's portfolio will include 15 senior housing sites in Germany

Stefaan Gielens, CEO of Aedifica, commented: "We look forward to soon adding another rest home (a recent construction) to our German portfolio which is operated by an important non-profit operator."

18 January 2016 – after closing of markets Under embargo until 17:40 CET

Käthe-Bernhard-Haus

Aedifica is pleased to announce the signing of the purchase agreement for a rest home in Germany. This purchase agreement is subject to the usual outstanding conditions in Germany, which are mainly of administrative nature and which should be fulfilled during the 1 st half of 2016. The purchase price will be paid and the property and full use of the building will automatically be acquired at that time.

Description of the building

The Käthe-Bernhardt-Haus rest home¹ is ideally located in the centre of Husum, just next to the Klinik Husum Hospital. Husum is a seaside resort of approx. 22,000 inhabitants located on the German North Sea coast in the Land of Schleswig-Holstein (Germany). The building, which dates from 2009, currently includes 65 single rooms and 18 assisted-living apartments.

The rest home is operated by a subsidiary of Deutsches Rotes Kreuz Kreisverband Nordfriesland e.V.

¹ Located Ferdinand-Tönnies-Str. 1 in 25813 Husum, in Schleswig-Holstein (Germany).

18 January 2016 – after closing of markets Under embargo until 17:40 CET

Description of the operator

Deutsches Rotes Kreuz Kreisverband Nordfriesland e. V. is a branch of Deutsches Rotes Kreuz (the German Red Cross), one of Germany's largest not-for-profit associations. The operator provides several services for elderly persons, such as daily home care, on-call nursing services and specialised transportation. Deutsches Rotes Kreuz Kreisverband Nordfriesland e. V. operates 5 rest homes.

Aedifica looks forward to this collaboration with another reputable player in the German care sector.

Description of the transaction

The contract in place with the operator is an irrevocable long-term lease with a lease maturity of approx. 25 years. The repair and maintenance of the roof, structure and facades of the building remain the responsibility of the owner. The contractual value² of the rest home will amount to approx. €7 million, which will provide for an initial gross rental yield (double net) of approx. 7 %.

The operation will be financed using Aedifica's credit facilities and by taking over existing credit facilities attached to the building.

German portfolio

Once the outstanding conditions for this acquisition are fulfilled, Aedifica's portfolio will include 15 senior housing sites with a total capacity of 1,305 units located in North Rhine-Westphalia, Saxony, Thuringia, Lower Saxony and Schleswig-Holstein. The fair value of this German portfolio will amount to approx. €127 million³ .

Other investments are currently under consideration.

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The English version of this press release constitutes a free translation of the French language text and is made for information purposes only. In case of inconsistency with the French version or inaccuracy of the English translation, the French text shall prevail.

² The contractual value complies with the provisions of article 49 §1 of the Belgian Act of 12 May 2014 on Regulated Real Estate Companies.

³ Based on the fair value of investment properties as of 30 September 2015 and the contractual value of the abovementioned building.

18 January 2016 – after closing of markets Under embargo until 17:40 CET

Aedifica is a public Regulated Real Estate Company under Belgian law specialised in residential property. Aedifica has developed a portfolio worth more than €1 billion, focused on two strategic pillars:

• - senior housing in Belgium and Germany;
• - apartment buildings in Belgium's main cities.

Aedifica has been quoted on the Euronext Brussels (continuous market) since 2006 and is identified by the following ticker symbols: AED; AED:BB (Bloomberg); AOO.BR (Reuters).

The Company's market capitalisation was €856 million as of 31 December 2015.

Aedifica is included in the EPRA indices.

Forward-looking statement

This document contains forward-looking information that involves risks and uncertainties, including statements about Aedifica's plans, objectives, expectations and intentions. Readers are cautioned that forward-looking statements include known and unknown risks and are subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of Aedifica. Should one or more of these risks, uncertainties or contingencies materialise, or should any underlying assumptions prove incorrect, actual results could vary materially from those anticipated, expected, estimated or projected. As a result, Aedifica does not assume any responsibility for the accuracy of these forward-looking statements.

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