Immobel NV

Major Shareholding Notification • May 18, 2020

PRESS RELEASE Regulated information Brussels, 18 May 2020 at 5:40 p.m.

Publication of transparency notification

In accordance with article 14, first paragraph, of the Law of 2 May 2007 regarding the disclosure of major shareholdings

Immobel has received a transparency notification dated 15 May 2020 showing that (i) as a result of a sale of its own shares, Immobel NV now owns 4.01% of its own shares and has thus dropped below the shareholding threshold of 5% and (ii) the total (direct and indirect) participation of A³ Capital NV has as a result of this dropped below the shareholding threshold of 65%.

Reason for the notification:	Acquisition or transfer of securities granting a right to vote or voting rights
Notification by:	A parent company or a controlling person
Persons subject to	• Mr. Marnix Galle
notification obligation:	• 3 Management BV A
	• Stichting Administratiekantoor A3 Capital
	• 3 Capital NV A
	• Immobel NV
Transaction date:	15 May 2020
Threshold exceeded (in%):	65
Denominator:	9,997,356
Details of the notification:	Voting rights	Before	After transaction
		transaction
	Holders		#voting rights	%voting rights
	Marnix Galle	0	0	0.00%
	3 Management BV A	299	299	0.00%
	STAK A3 Capital	0	0	0.00%
	3 Capital NV A	5,875,369	5,890,070	58.92%
	Immobel NV	1,185,603	400,636	4.01%
	Total	7,061,271	6,291,005	62.93%
Chain of controlled	Immobel NV is controlled by A3 Capital NV, the shares of which were in
undertakings through which	turn certified via the Dutch Stak (trust office) A3 Capital. Mr Marnix Galle
the shareholding is held:	controls this Stak. A3 Management BV is controlled by Mr Marnix Galle.
Additional information:	This transparency declaration is made following the disposal of own shares by Immobel NV (see our Press Release dated 13/05/2020).

The notification dated 15 May 2020 contains the following information:

The notification can be viewed on the Immobel website via this link.

More information:

Joëlle Micha *, Head of Corporate Affairs +32 (0)2 422 53 57 * Permanent representative of van Jomi bv joelle.micha@immobelgroup.com

About Immobel:

Immobel is the largest listed real estate developer in Belgium. The group, founded in 1863, specialises in innovative, metropolitan projects that fit the lifestyle of the contemporary user. The company develops mixed real estate with a variety of functions: living, working, shopping and leisure. Finally, it is also active in landbanking. With a portfolio of more than 1,200,000 m² of project development in six countries (Belgium, Grand Duchy of Luxembourg, Poland, France, Spain, Germany), Immobel occupies a leading position in the European real estate landscape. The group strives for 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 for Immobel.

For more information, please go to www.immobelgroup.com