Retail Estates sa

Declaration of Voting Results & Voting Rights Announcements • Jun 21, 2022

PRESS RELEASE

Regulatory information Ternat, 21 June 202

ANNOUNCEMENT OF A TRANSPARENCY NOTIFICATION

(Article 14, first paragraph of the Belgian Act of 2 May 2007 on the disclosure of significant participations)

1. SUMMARY OF THE NOTIFICATION

Pursuant to the Belgian Transparency Act, Retail Estates NV announces the receipt on 17 June 2022 of a transparency notification dated 17 June 2022.

The notification has been sent by Stichting Administratiekantoor "Het Torentje" with registered office Parklaan 34, 3018 BC Rotterdam, The Netherlands, and announces that the voting rights attached to the Retail Estates shares held by Nextensa NV, with registered office Picardstraat 11 box 505, 1000 Brussels, have crossed below the threshold of 10% of the total voting rights on 14 June 2022.

2. CONTENT OF THE NOTIFICATION

The notification dated 17 June 2022 contains the following information:

Reason for the notification

Passive downward crossing of a threshold.

Notification by

A parent undertaking or a controlling person.

Persons subject to the notification requirement

Name	Address (for legal entities)
Stichting Administratiekantoor "Het	Parklaan 34, 3018 BC Rotterdam, The
Torentje"	Netherlands
Nextensa NV	Picardstraat 11 box 505, 1000 Brussels

Date of threshold crossing

14 June 2022

Threshold that is crossed (in %)

10%

Denominator

14,085,827

Notified details

A) Voting rights	Previous notification	After the transaction
	# voting rights	# voting rights		% voting rights
Holders of voting		Attached	Apart from	Attached	Apart from
rights		to securities	securities	to securities	securities
Stichting Administratiekantoor "Het Torentje"	0	0	0
Nextensa NV	582,885	1,351,320		9.59 %
	TOTAL	1,351,320	0	9.59 %	0.00 %

B) Assimilated financial instruments	After the transaction
Holders of assimilated financial instruments	Type of financial instrument	Expiration date	Exercise period or date	# voting rights that can be acquired when exercising the instrument	% voting rights	Settlement
	TOTAL			0	0.00 %

TOTAL (A & B)	# voting rights	% voting rights
	1,351,320	9.59 %

Chain of controlled companies through which the holding is effectively held

Chain of control above Nextensa NV

(i) Nextensa NV is directly controlled by Ackermans & van Haaren NV, a company incorporated under Belgian law.

Chain of control above Ackermans & van Haaren NV

(i) Ackermans & van Haaren NV is directly controlled by Scaldis Invest NV, a company incorporated under Belgian law.

(ii) Scaldis Invest NV is directly controlled by Belfimas SA, a company incorporated under Belgian law.

(iii) Belfimas SA is directly controlled by Celfloor S.A., a company incorporated under Luxembourg law.

(iv) Celfloor S.A. is directly controlled by Apodia International Holding B.V., a company incorporated under Dutch law.

(v) Apodia International Holding B.V. is directly controlled by Palamount S.A., a company incorporated under Luxembourg law.

(vi) Palamount S.A. is directly controlled by "Het Torentje", a trust office ("Stichting Administratiekantoor") incorporated under Dutch law.

(vii) Stichting Administratiekantoor "Het Torentje" is the ultimate controlling shareholder.

In accordance with article 11, §1 of the Belgian Act of 2 May 2007 Stichting Administratiekantoor "Het Torentje" acts in its own name and for the account of the aforementioned companies.

Additional information

This notification relates to a passive downwards threshold crossing due to a capital increase within the framework of the authorized capital (adopted on 14 June 2022) by Retail Estates NV.

The notification can be consulted on the website of Retail Estates NV via this link: https://www.retailestates.com/en/investors/the-share/shareholding-structure-and-notifications

This press release can be consulted on the website of Retail Estates NV via this link: https://www.retailestates.com/en/press-publications/press-releases

ABOUT RETAIL ESTATES NV

The Belgian public real estate investment trust ("BE-REIT") Retail Estates NV is a niche player specialised in making in out-of-town retail properties located on the periphery of residential areas or along main access roads to urban centres available to users. Retail Estates NV acquires such real estate from third parties or builds and commercialises retail buildings for its own account. The buildings have useful surfaces ranging between 500m² and 3,000m². A typic al retail building has an average surface of 1,000 m².

As of 31 March 2022, Retail Estates NV has 987 premises in its portfolio with a total retail area of 1,177,577m², across Belgium and the Netherlands. The occupancy rate of the portfolio was 97.83% on 31 March 2022, compared to 97.07% on 31 March 2021. The fair value of the consolidated real estate portfolio of Retail Estates NV as at 31 March 2022 is estimated at EUR 1,759.88 million by independent real estate experts.

Retail Estates NV is listed on the regulated markets of Euronext Brussels and Euronext Amsterdam and is registered as a public regulated real estate company ("RREC").

FORWARD-LOOKING STATEMENTS

This press release contains a number of forward-looking statements. Such statements are subject to risks and uncertainties which may lead to actual results being materially different from the results which might be assumed in this press release on the basis of such forward-looking statements. Major factors that may influence these results include changes in the economic situation, commercial, tax-related and environmental factors.

Ternat, 21 June 2022

Jan De Nys, CEO of Retail Estates nv

For more information, please contact:

Retail Estates nv, Jan De Nys – CEO, tel. +32 2/568 10 20 – +32 475/27 84 12 Retail Estates nv, Kara De Smet – CFO, tel. +32 2/568 10 20