ATENOR

Capital/Financing Update • Mar 12, 2021

Press Release - Regulated Information¹

Early closing of the public offering of Green Retail Bonds Success of the first "green" bond issue mainly aimed at retail investors

La Hulpe, 12 March 2021

With the subscriptions registered for the bond issues at 4 and 6 years accompanied by gross coupons of 3 % and 3.50 % having achieved the maximum amount of the offer, i.e. € 25 million for the 4-year tranche and € 75 million for the 6-year tranche, the subscription period was closed early this 12 March 2021 at 17.30. The net proceeds from the public offer thus come to € 100 million (excluding costs and fees relating to the issue, estimated at € 100,000).

The date of payment and delivery of the bonds is set at 19 March 2021.

Belfius Bank and KBC will inform investors of the number of bonds that will definitively be allocated to them.

The bonds will be admitted for trading on the regulated market Euronext Brussels (ISIN Codes BE0002776574 (at 4 years) and BE0002775568 (at 6 years)).

These two bond issues at 4 and 6 years will be respectively issued at an issue price of 101.625 % and 101.875 % and redeemed at maturity at 100 % of the nominal value of the issued securities. The issue price includes the retail fee (of 1.625 % and 1.875 % respectively) reduced, if applicable, by a rebate of between 0 % and 0.50 % for certain qualified investors acting as intermediaries for subsequent investment by retail investors. They will bear interest at a gross rate per year of 3 % and 3.50 % respectively. The gross actuarial yields on the basis of the issue prices will be 2.57 % and 3.15 % while the net actuarial yields (that is, the gross yield less the withholding tax of 30 %) will amount to 1.68 % and 2.11 %. The bonds will have a nominal value of 1,000 euros and will mature on 19 March 2025 and 2027 respectively.

The net proceeds from the public offer will be exclusively allocated to the financing or refinancing, in whole or in part, green and energy-efficient real estate projects, which contribute to Atenor's environmental objectives within the framework of its Green Finance Framework and in line with the United Nations Sustainable Development Goals (UN SDGs). These projects meet certain eligibility criteria such as; BREEAM minimum "Excellent", WELL Core and Shell; with an energy performance level corresponding to a primary energy consumption of a maximum defined by country (included in the EPC, Energy Performance Certificate).

Sidney D. BENS, C.F.O. states:

"ATENOR subscribes in a determined and proactive manner to this strong trend of economic players, and in particular the real estate market, to contribute to the United Nations' sustainable development objectives and the evolution of the financial markets to embrace this sustainable movement. The success and rapid placement of this inaugural transaction for ATENOR in terms of sustainable financing testify to the financial markets' enthusiasm for this type of sustainable investment and to the confidence of both retail and institutional (qualified) investors in ATENOR's international development strategy and financing policy."

Belfius Bank led this operation together with KBC and ATENOR was accompanied by the law firm NautaDutilh.

75017528 M 26538473 / 6 ¹ Within the meaning of the Royal Decree of 14 November 2007 on the obligations of the issuers of financial instruments admitted to trading on a regulated market.

This press release should be read along with the Prospectus, dated 8 March 2021 and approved on the same date by the FSMA (Financial Services and Markets Authority), available on Belfius Bank's website www.belfius.be/obligation-atenor-2021) et de KBC (www.kbc.be/fr/bonds/atenor2021) and the issuer's website (www.atenor.eu/greenretailbond2021/EN).

Financial timetable:

• − Ordinary General Meeting 2020 23 April 2021 − - Payment of dividend (subject to approval by the OGM) 28 April 2021 − - Interim statement for Q1 2021 19 May 2021
• − Half year results 2021 6 September 2021
• − Interim statement for the 3rd quarter 2021 18 November 2021
• − Annual General Meeting 2021 22 April 2022

ATENOR is a real estate development company with European expertise listed on Euronext Brussels. Its mission is to propose, based on its planning and architectural approach, adequate responses to the new demands created by the evolution of the urban and professional life. In this context, ATENOR invests in prestigious real estate projects that meet its strict criteria in terms of location, economic efficiency and respect for the environment.

Reuters: ATE0.BR - Bloomberg: ATEB BB

For further information, please contact Stéphan Sonneville SA, Managing Director, or Sidney D. Bens, Chief Financial Officer

+32-2-387.22.99 - +32-2-387.23.16 - e-mail : info@atenor.eu - www.atenor.eu

Warning:

The green projects to which the net proceeds of bonds issued in accordance with the framework implemented by Atenor based on ICMA's Green Bond Principles and the Loan Market Association's Green Loan Principles, may not meet future legislative or regulatory requirements or meet all investor expectations regarding sustainability performance or continue to meet the relevant eligibility criteria.

This press release may not be used for, or in the context of, and does not under any circumstances constitute an offer for sale or an invitation to subscribe to or purchase the bonds offered further to the Prospectus, in any country in which such an offer or invitation would be unlawful. The communication of this press release and the offer or sale of the bonds may, in certain countries, be limited by statutory or regulatory provisions.

Persons that find themselves in possession of this press release or the bonds should familiarise themselves with, and abide by, any such restrictions relating to the communication of the Prospectus and the offer and sale of the bonds.

Moreover, no action has been taken by ATENOR or the arrangers intended to allow a public offering of the bonds or communication of this press release in any country (other than Belgium) where an action for such purposes is required. Likewise, no bond may be offered or sold, directly or indirectly, and neither the Prospectus nor any advertisement or other promotional material may be communicated or published, in any country, except under circumstances in accordance with the applicable laws and regulations.

Specifically, the bonds have not been and will not be registered under the U.S. Securities Act of 1933 (the "Securities Act") and may not be offered or sold in the United State or to or for the account or benefit of United States persons ("U.S. persons") (as defined by the Securities Act) except in the context of transactions that are exempt from registration or for which registration is not required pursuant to the Securities Act. Please refer to the "Subscription

and Sale" section of the Prospectus for a more detailed description of the restrictions on the sale and distribution of the bonds.