Aedifica SA

Business and Financial Review • Jan 5, 2015

PRESS RELEASE Regulated information

5 January 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")

Aedifica strengthens its team by establishing a subsidiary in Germany

As from 1 January 2015, Aedifica holds a German subsidiary: Aedifica Asset Management GmbH1. This subsidiary will advise and support Aedifica in the growth and management of its real estate portfolio in Germany.

Mr. Martin Engel (47), MRICS, has taken up the position of "Geschäftsführer" (managing director) of this new subsidiary. Mr. Engel holds a degree in business administration from Technische Universität Berlin ("Diplom-Kaufmann") and has extensive experience related to financing and investment. He previously worked for GE Real Estate as Originator and Senior Asset Manager for over 10 years, and among other responsibilities managed the senior housing portfolio since 2005.

Through this new subsidiary, Aedifica sharply expands its operational capacity as well as its presence on the German market.

Once the outstanding conditions for the acquisition of an assisted-living apartment complex in Germany are fulfilled (see press release of 17 December 2014), Aedifica's German portfolio will comprise 14 senior housing sites with a total capacity of 1,222 residents located in North Rhine-Westphalia, Saxony, Thuringia and Lower Saxony. The contractual value of this German portfolio will amount to over €100 million and will represent approx. 11 % of Aedifica's total marketable investment properties.

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

¹ Situated Frankfurter Landstr. 23 in 61352 Bad Homburg v. d. Höhe, Germany.

PRESS RELEASE Regulated information

5 January 2015 – 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 €900 million, 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 €606 million as of 31 December 2014.

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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