Aedifica SA

Share Issue/Capital Change • Dec 2, 2016

PRESS RELEASE Regulated information

2 December 2016 – after closing of the markets

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")

Press Release

Results optional dividend Shareholders opt for 37 % of the shares for a dividend in shares

CAPITAL INCREASE OF APPROX. €8 MILLION

Aedifica's shareholders have chosen for approx. 37 % of their shares for a contribution of their net dividend claim in exchange for new shares instead of the payment of a dividend in cash. This results in a capital increase for Aedifica of approx. €8 million by the creation of 122,672 new shares, as a result of which the aggregate number of Aedifica shares is equal to 14,314,704.

This capital increase leads to a retention of own funds within the Company that will be used to strengthen its equity and to lower its (legally limited) debt-to-assets ratio. This capital increase thus offers Aedifica the possibility to conclude additional transactions with debt, and to continue realising its growth intentions through future investments.

This result leads to a decrease in the debt-to-assets ratio of approx. 0.6 % (in comparison with a 100 % dividend payment in cash), and to a total capital increase of approx. €8 million (capital and issue premium) following the exercise of the optional dividend.

Today, Friday 2 December 2016, the Company initiated the settlement of the dividend, whereby, depending on the shareholders' choice, (i) new shares will be delivered, issued in consideration for the contribution of net dividend rights (ii) the dividend in cash will be paid, or (iii) a combination of the two previous options.

The newly created shares are listed on the regulated market Euronext Brussels and are immediately tradable.

PRESS RELEASE Regulated information

2 December 2016 – after closing of the markets

Publication in accordance with Article 15 of the Act of 2 May 2007 concerning the notification of major participations

Following the capital increase in kind and the issuance of 122,672 new shares at an issue price of €8,086,415.57 (i.e. €3,237,042.22 booked as capital and €4,849,373.35 booked as issue premium), the aggregate capital of Aedifica SA now amounts to €377,733,314.33. The capital is represented by 14,314,704 fully paid-up shares. There are no preferred shares. Each of these shares entitles to one voting right at the General Meeting of shareholders of the Company, and these shares represent the denominator for the purposes of notifications under the transparency regulations (i.e. notifications in case of (amongst other things) reaching, crossing or falling below the legal thresholds).

The Articles of Association of Aedifica do not provide in additional statutory thresholds with respect to notifications required under the transparency regulations.

This information is also published on the Company's website.

No outstanding options or warrants have been issued that entitle their holders to shares.

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 €1.4 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 €987 million as of 30 November 2016.

Aedifica is included in the EPRA indices.

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