Vastned Belgium NV

Board/Management Information • Sep 2, 2020

PRESS RELEASE

CEO VASTNED RETAIL N.V.

Inside information – Regulated information

Antwerp, 2 September 2020

The Supervisory Board of Vastned Retail N.V., the reference shareholder of Vastned Retail Belgium NV, announced in a press release today that it has reached the conclusion, jointly with CEO Taco de Groot, that Mr. de Groot will step down as CEO as of 1 December 2020.

Vastned Retail N.V. announces it will start searching for a successor for the next phase that the company is entering. Reinier Walta, currently CFO of Vastned Retail N.V., will act as interim CEO of Vastned Retail N.V. after 1 December 2020, until a successor is appointed.

As a result, Taco de Groot will also step down as strategic CEO and member of the board of directors of Vastned Retail Belgium NV as of 1 December 2020.

Attachment: press release Vastned Retail N.V. of 2 September 2020

About Vastned Retail Belgium. Vastned Retail Belgium is a public regulated real estate company (RREC), the shares of which are listed on Euronext Brussels (VASTB). Vastned Retail Belgium invests exclusively in Belgian commercial real estate, more specifically in prime retail properties located on the best shopping streets in the major cities of Antwerp, Brussels, Ghent and Bruges. Furthermore, the real estate portfolio consists of inner-city shops outside of the premium cities, high-end retail parks and retail warehouses.

For more information, please contact:

VASTNED RETAIL BELGIUM NV, a public regulated real estate company under Belgian law, Rudi Taelemans - CEO or Herman Schurmans - CFO ad interim, tel. +32 3 361 05 90, www.vastned.be

VASTNED RETAIL BELGIUM

Generaal Lemanstraat 74 2600 Berchem - Antwerp T +32 3 361 05 90 info@vastned.be

WWW.VASTNED.BE

PRESS RELEASE

Vastned CEO steps down for new phase

Amsterdam, 2 September 2020 – The Supervisory Board of Vastned, the listed European retail property company focusing on 'venues for premium shopping', announces that it has reached the conclusion, jointly with CEO Taco de Groot, that Mr De Groot will step down as CEO as of 1 December 2020. Vastned will start searching for a successor for the next phase that the company is entering. Reinier Walta, currently Vastned's CFO, will act as interim CEO until a successor is appointed.

Over the past nine years, Vastned has realised its transition to a high street property fund under the leadership of Taco de Groot. With a strategy focusing on improving the quality of the property portfolio, Vastned has succeeded in achieving both stable and predictable long-term results. The COVID-19 outbreak has accelerated the developments in the retail landscape that Vastned has been focusing on since 2011, for which reason Vastned brought forward its strategy update. As announced previously, the update will be revealed in February 2021 at the publication of the 2020 annual results. These developments are taking the company into a new phase, making this a logical time for Mr De Groot to take this step.

New phase

Taco de Groot, Vastned CEO: 'With the roll-out of our quality strategy, we have been able over the past few years to respond to the changes in the retail landscape, which featured a combination of e-commerce and shopping at premium locations. These top locations are still proving their value, also during the corona crisis. At present, with the strategy update, Vastned is entering a new phase in its development. Partially as a result of the views of a major shareholder, I have taken the initiative towards the Supervisory Board to discuss my position. I am convinced that this is in the interests of the continuity of the company and of all its stakeholders.'

Marc van Gelder, chairman of the Supervisory Board: 'Under Taco's leadership, Vastned has rolled out the high street strategy step by step, and thus transformed Vastned into a retail property fund focusing on the best properties in historic city centres of some of the best-loved European cities. This transformation concerned both the portfolio and the organisation, including the company's financial reporting and processes. Operating in a challenging retail market, Vastned has shown strong performance, also during the corona crisis, with a high occupancy rate and a stable valuation of the property portfolio. Taco has been instrumental in achieving this. We are deeply grateful to him for it.'

The Supervisory Board will start up the process to find a suitable successor to Mr De Groot; at the Supervisory Board's request Mr Walta has agreed to take on the role of acting CEO until that time.

Vastned Retail N.V.

De Boelelaan 7 1083 HJ Amsterdam

Postbus 22276 1100 CG Amsterdam Tel.: +31 202424368 info@vastned.com

www.vastned.com

PRESS RELEASE

About Vastned

Vastned is a listed European retail property company (Euronext Amsterdam: VASTN) focusing on 'venues for premium shopping'. Vastned invests in selected cities in Europe with a clear focus on the best retail property in the most popular high streets in the bigger cities. Vastned's tenants are strong and leading international and national retail brands. The property portfolio had a size of approximately € 1.5 billion as at 30 June 2020.

Further information:

Remco Vergeer Investor Relations Manager remco.vergeer@vastned.com Tel: +31 20 2424 368

De Boelelaan 7 1083 HJ Amsterdam Postbus 22276 1100 CG Amsterdam Tel.: +31 202424368 info@vastned.com

www.vastned.com