Covivio — Capital/Financing Update 2020

Jun 17, 2020

PRESS RELEASE

Paris, 16 June 2020

a €500 million 10-year Bond with a 1.625% coupon

Covivio has successfully priced its new Bond issue of €500 million, maturing in 2030 and offering a 1.625% coupon. The notes have been close to 5 times oversubscribed.

This operation, used to refinance existing debts, strengthens the balance sheet by lengthening debt maturity (of 6.1 years at end-2019) and improving its profile.

As a reminder, at end-May, Standard & Poor's confirmed its rating on Covivio at BBB+, stable outlook.

Application will be made for the notes to be admitted to trading on Euronext Paris and to the Autorité des Marchés Financiers for approval of the prospectus. Settlement and admission to trading on Euronext Paris of the Notes should occur on 23 June 2020.

This press release and the information contained herein do not constitute an offer to sell or subscribe, nor as solicitation of an order to purchase or subscribe the notes in any country, in particular in the United States. This press release and the information contained herein also do not constitute an offer to purchase nor a solicitation to sell the notes, nor an invitation to participate to the offer to purchase. The distribution of this press release may be restricted in some countries and be subject to specific regulations and persons in possession of this press release should inform themselves about and comply with any applicable restrictions.

Press Relations Géraldine Lemoine Tél : + 33 (0)1 58 97 51 00 geraldine.lemoine@covivio.fr

Laetitia Baudon Tél : + 33 (0)1 44 50 58 79 laetitia.baudon@shan.fr

Investor Relations Paul Arkwright Tél : + 33 (0)1 58 97 51 85 paul.arkwright@covivio.fr

Hugo Soussan Tél : + 33 (0)1 58 97 51 54 hugo.soussan@covivio.fr

Thanks to its partnering history, its real estate expertise and its European culture, Covivio is inventing today's user experience and designing tomorrow's city.

A preferred real estate player at the European level, Covivio is close to its end users, capturing their aspirations, combining work, travel, living, and co-inventing vibrant spaces.

A benchmark in the European real estate market with €25 Bn in assets, Covivio offers support to companies, hotel brands and territories in their pursuit for attractiveness, transformation and responsible performance.

Build sustainable relationships and well-being, is the Covivio's Purpose who expresses its role as a responsible real estate operator to all its stakeholders: customers, shareholders and financial partners, internal teams, local authorities but also to future generations and the planet. Furthermore, its living, dynamic approach opens up exciting project and career prospects for its teams.

Covivio's shares are listed in the Euronext Paris A compartment (FR0000064578 - COV) and on the MTA market (Mercato Telematico Azionario) of the Milan stock exchange, are admitted to trading on the SRD, and are included in the composition of the MSCI, SBF 120, Euronext IEIF "SIIC France" and CAC Mid100 indices, in the "EPRA" and "GPR 250" benchmark European real estate indices, EPRA BPRs Gold Awards (financial + Sustainability), CDP (A), Green Star GRESB and in the ESG FTSE4 Good, DJSI World & Europe, Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20), Euronext® CDP Environment France EW, Oekom, Ethibel, Sustainalytics and Gaïa ethical indices. Covivio is rated BBB+/Stable outlook by Standard and Poor's.

Notations solicited:

Financial part: BBB+ / Stable outlook by Standard and Poor's Extra-financial part: A1+ by Vigeo-Eiris

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