Aedifica SA

M&A Activity • May 13, 2016

13 May 2016 – 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")

Second investment in The Netherlands: New senior housing site in Arnhem

• New care residence in Arnhem (The Netherlands)
• Contractual value: approx. €8 million
• Operator: Stepping Stones Home & Care

Stefaan Gielens, CEO of Aedifica, commented: "Aedifica recently entered The Netherlands with a long-term vision, as it has already done in Belgium and Germany. With this second investment, Aedifica expands its Dutch portfolio, which now comprises 5 care residences of excellent quality that are either operational or under construction."

13 May 2016 – after closing of markets Under embargo until 17:40 CET

Aedifica is pleased to announce the acquisition of a new senior housing site in The Netherlands.

Saksen Weimar¹ - Arnhem

This second investment in The Netherlands is a new milestone in the rolling out of Aedifica's investment strategy in Europe. This strategy is focused on the needs that result from the ageing population, especially with respect to senior housing. The Netherlands presents a significant investment opportunity in this domain. The growth and the consolidation of private healthcare operators has recently begun and, as in other European countries, the role and significance of specialised healthcare real estate investors will undoubtedly increase, in the private sector as in other sectors. Aedifica recently entered The Netherlands with a long-term vision, as is has already done in Belgium and Germany.

Description of the buildings

The Saksen Weimar² care residence is a small-scale residential care facility in the middle to high-end market segment and is oriented toward seniors requiring on-going assistance, located in Arnhem (150,000 inhabitants, Province of Gelderland). The care residence is situated in a residential area, near Klarendal parc. The building was originally a barracks constructed in the 1940s, which was entirely redeveloped in 2015 to welcome 42 residents in an exceptional environment.

¹ Copyright: Ria van Remmerden fotografie.

² Located Compagnieplaats 22 in 6822 Arnhem (The Netherlands).

PRESS RELEASE Regulated information

13 May 2016 – after closing of markets Under embargo until 17:40 CET

Description of the transaction

The investment is carried out by Aedifica Nederland BV, a 100 % subsidiary of Aedifica SA. It acquired on 13 May 2016 the full property of the Saksen Weimar site. The contractual value³ amounts to approx. €8 million.

Description of the operator and the lease

The site is operated by the Stepping Stones Home & Care group, a high-quality Dutch operator that has been active in the private senior care market since 2007. Stepping Stones Home & Care currently operates approx. 10 sites with 140 employees. The group will operate additional sites in the near future.

Aedifica looks forward to this collaboration with a high-quality Dutch player in the senior housing sector.

The lease that was established for this site is an irrevocable triple net 20-year long lease, which generates an initial gross (triple net) yield of approx. 7 %.

* * *

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.

13 May 2016 – after closing of markets Under embargo until 17:40 CET

Aedifica undertakes this investment in the senior housing segment as another major investment following the €153 million capital increase⁴ which was successfully completed on 29 June 2015. The updated list of recent investments is as follows:

(in € million)		Marketable investment properties		Investment properties to be completed	Total
		carried out	subject to outstanding conditions
Résidence de la Houssière	Belgium	10	-	-	10
Senior Flandria	Belgium	10	-	-	10
Mechelen	Belgium	-	-	17	17
Vinkenbosch	Belgium	4	-	12	16
Kalletal (extension)	Germany	-	3	-	3
Heydeveld	Belgium	9	-	-	9
Oostende	Belgium	-	11	-	11
Prinsenhof	Belgium	6	-	4	10
Husum	Germany	7	-	-	7
Holland	The Netherlands	12	-	-	12
Benvenuta	The Netherlands	3	-	-	3
Molenenk	The Netherlands	-	-	10	10
Walgaerde	The Netherlands	-	4	-	4
Residentie Poortvelden5	Belgium	12	-	-	12
Leopoldspark5	Belgium	21	-	-	21
Saksen Weimar	The Netherlands	8	-	-	8
Total as of 13 May 2016		101	18	43	163

Other investments are currently under consideration.

*****

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 release of 29 June 2015.

⁵ Realisations of agreements concluded in 2014.

13 May 2016 – after closing of markets Under embargo until 17:40 CET

Aedifica is a Regulated Real Estate Company under Belgian law specialised in healthcare real estate, particularly in senior housing. Aedifica has developed a portfolio worth more than €1 billion in Belgium, Germany and in The Netherlands.

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 €873 million as of 29 April 2016.

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.

For all additional information