Retail Estates sa

Capital/Financing Update • Apr 29, 2016

Naamloze vennootschap (public limited company),
public regulated real estate company under Belgian law (BE-REIT), with registered office at Industrielaan 6, 1740 Ternat (Belgium), Brussels Register of Legal Entities: 0434.797.847

Occasional press release - regulated information Ternat, 29 April 2016 - 5:40pm

PRIVATE PLACEMENT OF A TEN-YEAR BOND. FOR A TOTAL AMOUNT OF EUR 30 MILLION

On Friday 29 April 2016, Retail Estates nv successfully proceeded to a private placement of a tenyear bond, for a total amount of EUR 30 million, with maturity on 30 April 2026.

For an amount of EUR 4 million $-$ 13.33% of the total placement $-$ the bonds have been placed with a fixed interest rate. For an amount of EUR 26 million $-$ 86.67% of the total placement $-$ they have been placed with a floating interest rate. The fixed rate bonds are issued at an issue price of 100%, with an annual gross yield of 2.839%. The floating rate bonds are issued at 100%, with a quarterly interest payment¹. The bonds cannot be traded on Euronext Brussels.

The bonds have been placed with institutional investors. BNP Paribas Fortis nv/sa acted as Lead Manager.

The net proceeds of the bond issue will be used by Retail Estates ny for general corporate purposes and for the diversification of the financial resources. This bond issue also contributes to the extension of the average debt maturity and to the decrease of the average interest rate.

^<sup>1 The interest rate regarding the floating rate bonds will be calculated based on the Euribor 3 months +225 basis points margin.

ABOUT RETAIL ESTATES NV

Retail Estates nv is a public regulated real estate company and more specifically a niche company that specialises in investing in out-of-town retail properties which are located on the periphery of residential areas or along main access roads into urban centres. Retail Estates ny buys these properties from third parties or builds and markets retail buildings for its own account. The buildings have useful areas ranging between 500m² and 3,000m². A typical retail building has an average area of $1.000m^2$ .

On 31 December 2015, Retail Estates ny has 634 properties in its portfolio with a lettable surface of 705,785m². The occupancy rate of these buildings, expressed in leased m², amounts to 98.01%.

The fair value of the consolidated real estate portfolio of Retail Estates nv at 31 December 2015 is estimated by independent real estate experts at EUR 983.29 million.

Retail Estates nv is listed on Euronext Brussels and is registered as a public regulated real estate company. On 31 December 2015, the stock market capitalisation of its shares amounts to FUR 696 72 million

Ternat, 29 April 2016,

Jan De Nys, managing director of Retail Estates nv.

For more information, please contact: Retail Estates nv, Jan De Nys - CEO, tel. 02/568 10 20 - 0475/27 84 12 Retail Estates nv, Kara De Smet - CFO, tel. 02/568 10 20 - 0496/57 83 58 Retail Estates nv, Paul Borghgraef - Chairman, tel. 02/568 10 20 - 0475/42 98 03

Retail Estates nv Public RREC under Belgian law (BE-REIT) Industrielaan 6 - B-1740 Ternat RPR Brussels: 0434.797.847 T: +32 2 568 10 20 info@retailestates.com www.retailestates.com