ATENOR

Earnings Release • Mar 10, 2023

ANNUAL RESULTS 2022

STÉPHAN SONNEVILLE SA, CEO OF ATENOR COMMENTS:

"We create value over time. For the past three years, we have been experiencing sudden and unprecedented crises, and the disarray has frozen economic agents for a time. We note that a climate of uncertainty persists at the beginning of 2023. Nevertheless, based on the evolution of the project portfolio and the projects' ESG positioning, we expect to realise a gross margin of around €300 million by the end of 2025, corresponding to the disposal of approximately 475,000 m² of office space and 2,000 flats."

- LOSS FOR THE YEAR: €-0.84 million

In line with the November 2022 trading update, Atenor closed the 2022 financial year with a small loss of € -0.84 million.

- GROSS DIVIDEND: €2.67 per share (+5%)

Based on the outlook for the coming years, Atenor maintains its policy of an attractive and steadily increasing dividend. As in the past, in a low economic cycle, Atenor offers the opportunity for an optional dividend.

- VALUE CREATION CYCLE:

The macroeconomic situation has put investors in a wait-and-see mode, which has not allowed Atenor to conclude the planned disposals in the office market. On the other hand, in an active European rental market (+16%), Atenor achieved its best score in 4 years by concluding leases for more than 100,000 m².

• PORTFOLIO IN DEVELOPMENT: 35 projects spread over a total of around 1,300,000 m².

- ATENOR – SUSTAINABLE AND INTERNATIONAL

In its first participation, Atenor obtained the highest score of 5 out of 5 stars awarded by the GRESB (Global Real Estate Sustainability Benchmark), an international organisation that evaluates the Environmental, Social and Governance (ESG) performance of the property sector. The 5-star score is the recognition of the companies in the top 20% of the benchmark.

Find ATENOR's full report at www.atenor.eu