Icade — Capital/Financing Update 2021

Jan 11, 2021

PRESS RELEASE Paris, January 11, 2021

Icade launches a 10-year benchmark-size bond

This morning, Icade launched the issue of a 10-year benchmark-size bond (the "Bond" or "Bond Issue").

Subject to its settlement, Icade will use part of the proceeds from this new Bond to fund the exercise of a make-whole call on the €500 million 1.875% bond maturing in September 2022 (ISIN code: FR0012942647). As of January 11, its outstanding principal amount stands at €395.7 million. The bond will be called at a price to be determined in accordance with its terms and conditions.

The results of this Bond Issue will be announced today after the market closes.

ABOUT ICADE

DESIRABLE PLACES TO LIVE

As an office and healthcare property investment company (portfolio worth €14.4bn on a full consolidation basis as of 06/30/2020) and a developer of homes, offices and public amenities (2019 economic revenue of nearly €1bn), Icade designs, builds, manages and invests in cities, neighbourhoods and buildings that are innovative, diverse, inclusive and connected with a reduced carbon footprint. Desirable places to live and work. In collaboration with its stakeholders, Icade has made low carbon a strategic priority in order to reinvent real estate and create cities that are healthier, happier and more hospitable. Icade is a key player in Greater Paris and major French cities. It is listed as a "SIIC" on Euronext Paris and its leading shareholder is the Caisse des Dépôts group. The text of this press release is available on the Icade website: www.icade.fr/en/

CONTACTS

Jean-Philippe Carrascosa, Head of Corporate and Financing +33 (0)1 41 57 71 96

jean-philippe.carrascosa@icade.fr

Anne-Sophie Lanaute, Head of Financial Communication and Investor Relations +33 (0)1 41 57 70 29

anne-sophie.lanaute@icade.fr

DISCLAIMER

This press release is for information purposes only and does not constitute an offer to sell or a solicitation to purchase any securities in any jurisdiction. No action has been or will be undertaken to make available any bonds to any retail investor in the European Economic Area or the United Kingdom. In France, a listing prospectus will be submitted for approval to the French Autorité des marchés financiers for a listing of the bonds on the regulated market of Euronext Paris. Settlement and delivery remain subject to this approval. This press release is not an offer for sale within the United States of any security of Icade or any of its affiliates. Securities of Icade or any of its affiliates may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended, or unless exempt from such registration. Release, publication or distribution of this press release is forbidden in any jurisdiction where such release, publication or distribution would violate applicable laws or regulations.