Retail Estates sa

Capital/Financing Update • Apr 2, 2014

Press release - regulated information Ternat, 2 April 2014 – 5:40 pm

Naamloze Vennootschap (public limited company), public fixed-capital real estate investment fund organised and existing under the Belgian laws, with registered office at 1740 Ternat (Belgium), Industrielaan 6, Brussels Register of Legal Entities: 0434.797.847

'the art of creating value in retail estate'

PRIVATE PLACEMENT OF BONDS FOR A TOTAL AMOUNT OF EUR 30 MILLION

Retail Estates NV proceeded to a private placement for a total amount of EUR 30 million. The bonds have a 7-year term and are due in 2021. The placement has been launched today and due to the great success, closed anticipatively. They represent a fixed annual gross yield of 3.566 %. The issuer price of the bonds was equal to their nominal amount, being EUR 100,000. The bonds were placed with institutional investors. Bank Degroof NV/SA acted as Lead Manager.

Support of the further growth of the portfolio and diversification of the financial resources

The net proceeds of the bond issue will be used for the further growth of the portfolio and will contribute to the diversification of the financial resources. The bonds also contribute to the increase of the average maturity of the total debt (34 months at 31.12.2013) and to the decrease of the average interest rate (4.51 % at 31.12.2013).

Ternat, 2 April 2014, 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, Paul Borghgraef - Chairman, tel. 02/568 10 20 - 0475/42 98 03 Retail Estates NV – Public fixed-capital real estate investment fund as governed by Belgian law - Industrielaan 6, 1740 Ternat – Register of Legal Entities Brussels - VAT BE 0434.797.847.