Aedifica SA

Business and Financial Review • Sep 29, 2015

PRESS RELEASE Regulated information

29 September 2015 – 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")

Framework agreement for the construction of a rest home in Mechelen (Belgium)

Aedifica is pleased to announce the signing on 29 September 2015 of a framework agreement for the construction of a new rest home located in Mechelen1 (Province of Antwerp, Belgium).

Project for the construction of a new rest home in Mechelen

¹ Brusselsesteenweg 245 in 2800 Mechelen.

PRESS RELEASE Regulated information

29 September 2015 – After closing of markets Under embargo until 17:40 CET

Description of the project

The project site is well located, close to the centre of Mechelen, a city of approx. 84,000 inhabitants (Province of Antwerp, Belgium). The neighbourhood in which the project is located will be the subject of a redevelopment that is expected to reach completion by 2025.

The project, for which a development permit application will be submitted in due course, consists of the construction of a new rest home which will comprise a combined total of 128 units (100 beds and 28 assisted-living apartments). Works are expected to begin during the third quarter of 2016 and to reach completion during the third quarter of 2018.

Description of the transaction

Following completion of the works, Aedifica will acquire 100 %2 of the shares of the limited liability company that owns the site. The contractual value of the entire site amounts to approx. €17 million. The site will be operated by Het Spreeuwenhof VZW on the basis of a triple net long lease. The initial triple net yield will amount to approx. 6 %.

The framework agreement is subject to outstanding conditions, such as the receipt of the development permit.

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This investment in Belgium demonstrates Aedifica's strategy in the senior housing segment, which aims to strengthen and improve existing sites, as well to develop new projects in partnership with its tenants/operators. This strategy allows the Company to maintain a portfolio of high-quality buildings which generate attractive yields.

² Together with its subsidiary Aedifica Invest SA.

PRESS RELEASE Regulated information

29 September 2015 – After closing of markets Under embargo until 17:40 CET

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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.

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 €743 million as of 30 August 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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