ATENOR

Earnings Release • Mar 10, 2022

BRUSSELS - THE HAGUE - LUXEMBOURG - PARIS - LISBON DÜSSELDORF - WARSAW - BUDAPEST - BUCHAREST - LONDON

YEAR RESULT: € 38.07 M (+58%)

Despite the persistence of the health crisis in 2021, ATENOR has experienced a remarkable year with a significant increase in profits that were highly diversified both in geographical and functional terms.

STÉPHAN SONNEVILLE SA, CEO COMMENTS:

"The improved results confirm ATENOR's economic resilience and the validity of its business model, which is based on the quality of the projects in the portfolio and hard-working teams. ATENOR's firm commitment to consistent sustainability, through its think tank ArchiLab, as well as the growth of the various indicators of the value creation cycle in 2021, underlie, subject to the macro-economic consequences related to the current tragic events in Ukraine, the continued favourable outlook."

GROSS DIVIDEND*: € 2.54 PER SHARE (+5%) - YIELD OF 4.9%

Based on its results, ATENOR is maintaining its attractive dividend policy with regular increases.

ANNUAL RESULTS

2021

* Subject to the approval of the General Assembly on 22.04.2022

VALUE CREATION CYCLE : € 270.45 M OF NEW INVESTMENTS

In 2021, ATENOR invested in 5 projects for a total amount of 270.45 million Euro representing a total surface area to be developed of 215,000 m². Several major sales transactions for a total surface area of 135,000 m² have generated 317.10 million Euro corresponding to the sum of the cash received and the reduction of the bank debt.

In addition, applications for 299,000 m² of building/renovation works (up 59%) were filed, with permits received for 223,000 m² (up 180%).

DEVELOPMENT PORTFOLIO: 32 PROJECTS TOTALING SOME 1,300,000 M²

ATENOR's active presence (local teams) in 10 countries provides a particular type of diversification, which is a source of resilience and opportunities. The portfolio currently contains 1,300,000 m², of which 54% of office space and 40% of residential (the equivalent of about 6,000 units under development).

ATENOR, ACTING FOR SUSTAINABILITY

A pioneer and committed player in sustainable urban development, ATENOR applies an ambitious and consistent ESG sustainability policy not only at corporate level, but also for its projects and financing.

For example, ATENOR is carbon neutral certified, the projects it has developed are at least Breeam Excellent and Well Gold and, in March 2021, ATENOR issued the first Green Retail Bond on the Brussels stock exchange.