Aedifica SA

M&A Activity • Oct 1, 2015

1 October 2015 – After closing of markets Under embargo until 17:40 CET

AEDIFICA

Public limited liability company Public regulated real estate company under Belgian law Registered office: avenue Louise 331-333, 1050 Brussels Enterprise number: 0877.248.501 (RLE Brussels) (the "Company")

Acquisition of a rest home in Belgium

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New extension project for a rest home in Germany

I. Acquisition of the Vinkenbosch rest home in Hasselt (Belgium)

Aedifica is pleased to announce the acquisition on 1 October 2015 of 100 %1 of the shares of the company Vinkenbosch SA. Vinkenbosch SA is the owner of the Vinkenbosch rest home2 located in Kermt, part of Hasselt (Province of Limburg, Belgium).

Vinkenbosch

¹ By Aedifica SA and its subsidiary Aedifica Invest SA.

² Lindekensveldstraat 56 in 3510 Hasselt.

1 October 2015 – After closing of markets Under embargo until 17:40 CET

Description of the building

The Vinkenbosch rest home is well located in a residential and green area, close to the centre of Kermt, part of Hasselt. This town of 75,000 inhabitants is the capital city of the province of Limburg (Belgium). The site comprises an existing building and a bare land. The existing building, which dates partially from the 1990s, currently comprises 59 beds.

A development project is planned for (i) the construction of a new rest home on the bare land and (ii) the renovation of the existing building. Upon completion of this project, the total capacity of the site will amount to 100 units (80 units in the rest home and 20 assisted-living apartments in the existing building). The investment budget for the project amounts to approx. €12 million. Completion of the new building is expected by the end of 2016.

Description of the transaction

The contractual value3 of the existing site (including plot of land) amounts to approx. €4 million. The site is operated by Vinkenbosch VZW (Senior Living Group) on the basis of a triple net long lease. The initial triple net yield amounts to approx. 6 %.Taking into account the development project, the total investment for the site will amount to approx. €16 million.

³ The contractual value complies with the provisions of article 49 §1 of the Belgian Act of 12 May 2014 on Regulated Real Estate Companies.

1 October 2015 – After closing of markets Under embargo until 17:40 CET

II. New extension project for the Die Rose im Kalletal rest home in Kalletal (Germany)

Aedifica is also pleased to announce a new extension project for the Die Rose im Kalletal rest home in North Rhine-Westphalia (Germany), owned by Aedifica (through Aedifica Luxemburg I SARL) since 16 December 20144.

The project consists of the construction of a new 28-bed building intended to accommodate dementia patients. This extension will bring the total capacity of the site to 96 beds. The investment for the project amounts to less than €3 million and will generate an initial gross rental yield of more than 6 %, on the basis of a double net long lease. The extension is to be completed by the end of 2015 and will be added to the portfolio during the first half of 2016. Aedifica benefits from a triple net 10-year warranty for the maintenance of the building.

The agreement that was signed in the framework of this extension is subject to the usual outstanding conditions in Germany for this kind of transaction.

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These new investments follow Aedifica's €153 million capital increase5 which was successfully completed on 29 June 2015.

These investments in Belgium and in Germany demonstrate Aedifica's strategy in the senior housing segment, which aims to strengthen and improve existing sites, as well to develop new projects in partnership with its tenants/operators. This strategy allows the Company to maintain a portfolio of highquality buildings which generate attractive yields.

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The English version of this press release constitutes a free translation of the French language text and is made for information purposes only. In case of inconsistency with the French version or inaccuracy of the English translation, the French text shall prevail.

⁴ See press releases of 13 November 2014 and 16 December 2014.

⁵ See press release of 29 June 2015.

1 October 2015 – After closing of markets Under embargo until 17:40 CET

Aedifica is a public Regulated Real Estate Company under Belgian law specialised in residential property. Aedifica has developed a portfolio worth more than €1 billion, focused on two strategic pillars:

• - senior housing in Belgium and Germany;
• - apartment buildings in Belgium's main cities.

Aedifica has been quoted on the Euronext Brussels (continuous market) since 2006 and is identified by the following ticker symbols: AED; AED:BB (Bloomberg); AOO.BR (Reuters).

The Company's market capitalisation was €746 million as of 30 September 2015.

Aedifica is included in the EPRA indices.

Forward-looking statement

This document contains forward-looking information that involves risks and uncertainties, including statements about Aedifica's plans, objectives, expectations and intentions. Readers are cautioned that forward-looking statements include known and unknown risks and are subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of Aedifica. Should one or more of these risks, uncertainties or contingencies materialise, or should any underlying assumptions prove incorrect, actual results could vary materially from those anticipated, expected, estimated or projected. As a result, Aedifica does not assume any responsibility for the accuracy of these forward-looking statements.

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