Immobel NV

Transaction in Own Shares • Dec 21, 2020

PRESS RELEASE

Regulated information – Announcement of disposal of own shares Brussels, 21 December 2020, 8.00 a.m. CEST

Immobel SA/NV successfully sold 100,000 treasury sharesto Alychlo NV

Immobel SA/NV ("Immobel") sold 100,000 treasury shares (the "Shares"), representing approximately 1.0% of Immobel's share capital, to Alychlo NV, the investment company of Marc Coucke. The Shares have been sold on 18 December 2020 at 2 pm CET at a price of €64,40 per share in an over-the-counter transaction.

Following the sale, the free float will increase to approximately 38% and the number of treasury shares will be reduced to 282,527 treasury shares, corresponding to approximately 2.8% of Immobel's share capital. A transparency declaration will be published in this respect.

"We are very proud to welcome Marc Coucke as a shareholder of Immobel," said Marnix Galle, Executive Chairman of Immobel. "We are looking forward to this promising collaboration".

Marc Coucke, Chairman of Alychlo NV: "With this investment, Alychlo confirms its commitment to top companies from the Belgian economy. Alychlo strongly believes in Immobel's focus on sustainable and innovative project developments".

On top of this equity investment, Alychlo NV has also committed to investing an amount of €10 million in the Immobel Belux Office Development Fund1 . This Fund, which is currently being set up, will offer institutional and qualified investors the opportunity to invest together with Immobel in the development of sustainable and contemporary office buildings in Brussels and Luxembourg.

Berenberg acted as placement agent in the transaction of treasury shares.

For further details: Karel Breda*, Chief Financial Officer +32 (0)2 422 53 50 Karel.breda@immobelgroup.com

* Permanent representative of KB Financial Services BV

¹ A Luxembourg reserved alternative investment fund structured as a special limited partnership, in the course of incorporation.

About Immobel

Immobel is the largest listed real estate developer in Belgium. The Group, which dates back to 1863, creates high-quality, future-proof urban environments with a positive impact on the way people live, work and play, and specialises in mixed real estate. With a stock market value of +/- EUR 650 million and a portfolio of more than 1,200,000 m² of project development in 6 countries (Belgium, Grand Duchy of Luxembourg, Poland, France, Spain, Germany), Immobel occupies a leading position in the European real estate landscape. The group strivesfor sustainability in urban development. Furthermore, it uses part of its profits to support good causes in the areas of health, culture and social inclusion. Approximately 200 people work at Immobel. For more information, please visit www.immobelgroup.com

Certain statements in this press release may be considered "forward looking". Such forward-looking statements are based on current expectations, and, accordingly, entail and are influenced by various risks and uncertainties. Forward-looking statements involve a number of known and unknown risks, uncertainties and other factors, many of which are difficult to predict and generally beyond the control of the Company. Forward-looking statements may, and often do, differ materially from actual results. The Company therefore cannot provide any assurance that such forward-looking statements will materialise and expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this press release.

The purchase of Immobel securities is subject to specific legal and regulatory restrictions in certain jurisdictions. Immobel assumes no responsibility for any violation by any person of the aforementioned restrictions.