Covivio — Capital/Financing Update 2020

Feb 13, 2020

Paris, 13 February 2020

Convertible bonds "€200,000,000 ; 0.875%, due 2021"

(Borsa Italiana S.p.A "ExtraMOT - Professional Segment" ISIN XS1268574891)

Suspension of the exercise of rights related to the conversion of bonds into Covivio ordinary shares

Holders of convertible bonds issued on 3 August 2015 under the code ISIN XS1268574891 are informed that, in compliance with and by virtue of art. 6(a) of the Bonded Loan Regulation and considering that the Shareholders' Annual General Meeting has been called on 22 April 2020, in order to resolve upon dividend payout among others items, the exercise of the option to convert the bonds into ordinary shares of Covivio should be suspended from 13 February 2020 (date of the Board of Directors Meeting) up to and including 24 April 2020, the day immediately preceding the ex-dividend date, that is 27 April 2020.

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

covivio.eu

COVIVIO COMMUNIQUÉ DE PRESSE

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 24 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