VGP NV

Capital/Financing Update • Nov 22, 2013

Press Release Regulated Information

Brussels, 20 November 2013

Public offering in Belgium of bonds for an expected amount of minimum € 40 million and maximum of € 75 million

VGP NV announces that it makes a public offer in Belgium of retail bonds due 6 December 2018 for an expected amount of minimum € 40 million and maximum € 75 million.

The fixed rate of the bonds is 5.10% (gross) per year.

The bonds will be issued in denomination of € 1,000. The subscription period runs from 22 November 2013 until and including 29 November 2013, subject to early closing. The issue date is planned on 6 December 2013. Application has been made for the bonds to be listed on the regulated market NYSE Euronext Brussels and to be admitted to trading on the regulated market of NYSE Euronext Brussels.

KBC Bank NV will act as sole manager and bookrunner for this issuance.

A full prospectus detailing the transaction and its terms, drawn up in English, as well as a Dutch and French translation of the summary of such prospectus, can be obtained free of charge as from 20 November 2013 (before opening of the stock exchange) from VGP NV's head office, and may be consulted as from 20 November 2013 on the VGP NV website (www.vgpparks.eu) and at KBC Bank NV in each KBC Bank office, with your KBC Private Banking relationship manager, through the KBC Telecenter (which can be reached at its phone number 078 152 153) and on the website (www.kbc.be/vgp).

The proceeds of the bonds will be primarily used for investing in the land bank and the development pipeline in Germany.

For more information

Mr Jan Van Geet Mr Dirk Stoop CEO CFO Tel. + 42 0602 404 790 Tel.+32 2 737 74 06 E-mail: jan.van.geet@vgpparks.eu E-mail: dirk.stoop@vgpparks.eu

Profile

The VGP Group (www.vgpparks.eu) constructs and develops high-end semi-industrial real estate and ancillary offices for its own account and the account of its associates, which are subsequently rented out to reputable clients on long term lease contracts. The VGP Group has an in-house team which manages all activities of the fully integrated business model: from identification and acquisition of land, to the conceptualisation and design of the project, the supervision of the construction works, contracts with potential tenants and the facility management of its own real estate portfolio.

VGP NV's shares are quoted on NYSE Euronext Brussels and on the Main Market of the Prague Stock Exchange.

IMPORTANT INFORMATION

The characteristics of the offer as presented above only constitute a summary of the conditions of the bonds (the "Bonds"). Before making an investment decision and carrying out a transaction with respect to the Bonds, investors must ensure that they have a correct understanding of the transaction and that they can make an independent assessment of the appropriate character of the transaction in light of their objectives. Investors must ensure that they have sufficient information available with respect to the Issuer and the Bonds prior to making an investment in the Bonds. This product constitutes a debt instrument. By subscribing to this instrument, the investor lends money to the Issuer who undertakes to pay interest on an annual basis and to reimburse, on the maturity date (subject to early redemption in accordance with the terms and conditions of the Bonds), 100% of the invested amount, i.e. EUR 1,000 per denomination. In case of default (e.g. bankruptcy) of the Issuer, investors risk not recovering the amounts they are entitled to and losing a part of or the entire amounts invested. The Bonds are intended for investors who are capable of evaluating the interest rates in light of their knowledge and their experience. Investors are invited to read the Prospectus attentively and to base their decision to invest in the Bonds solely on the contents of the Prospectus and in particular on the contents of the chapter "Risk Factors" (see pages 23-51).

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the bonds, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

This announcement is not for distribution, directly or indirectly in the United States of America, Canada, Japan or Switzerland, or any other jurisdiction where distribution would not be permitted by law. The bonds are not offered in the United States of America.

In the European Economic Area (except Belgium) this announcement is only directed at qualified investors within the meaning of directive 2003/71/EC (as amended).

No announcement or information with respect to the bonds may be distributed to the public in other jurisdictions than Belgium if the applicable legal requirements have not been complied with. The Issuer is not responsible for non-compliance of applicable legal requirements by other persons.