FREY — Capital/Financing Update 2018

Dec 3, 2018

Bezannes, December 3rd, 2018 – 8.00 am

Signing of a €70 million syndicated credit facility

FREY S.A. (ISIN: FR0010588079 - FREY), a property investment company (French REIT) specialising in open-air shopping centres, announces today the signature of a €70 million syndicated loan with an initial term of 5 years, with two optional one-year extension (notably subject to the prior lender's agreement).

This credit line will enable in particular to finance secured development projects. It allows the Group to benefit from favourable financial conditions, improve its financial flexibility and diversify its financing partners.

Société Générale acted as arranger in this transaction, and also as lender, alongside Arkéa and Banco Sabadell.

FREY was advised by the law firm De Pardieu Brocas Maffei and the lenders by Herbert Smith Freehills.

About FREY

FREY is a property investment company (French REIT) specialising in major urban renewal operations and the development and operation of open-air shopping centres. Its Shopping Promenade® offer a complete offer combining shopping and leisure, to create an "enhanced experience" for all the family. Through its unique expertise, FREY has become a recognised French leader in this resilient asset class, in the deep market (creation, extension, renovation) and in perfect harmony with the expectations of consumers, retailers and communities.

FREY is listed on compartment B of Euronext Paris. ISIN: FR0010588079 - Mnemo: FREY

CONTACTS:

Emmanuel La Fonta – Director-Finance & Human Resources - Tel.: 03 51 00 50 50 Mathieu Mollière - Director of Communication, Marketing and Innovation Agnès Villeret – Investor relations and financial press KOMODO - agnes.villeret@agence-komodo.com - Tel.: 06 83 28 04 15