Annual results 2019

STRONG OPERATING RESULTS AND A HIGH OCCUPANCY RATE

Increase in EPRA earnings in financial year 2019 to €2.90 per share (€2.85 for financial year 2018), mainly the result of lower than expected maintenance costs.

Divestment of an inner-city retail property in Liege and a retail park in Ans as part of a further implementation of the strategy with a clear focus on high-quality retail properties.

Realisation of 26 rental transactions representing approximately 23% of the total annual rental income.

Occupancy rate has increased more than 1% during the fourth quarter to 98.8% compared to 30 September 2019 (98.0% as at 31 December 2018).

Decrease by approximately 2.7% in the fair value of the existing real estate portfolio in financial year 2019, mainly the result of a further decrease in the estimated rental values.

Gross dividend proposal of €2.90 per share for financial year 2019 (€2.85 for financial year 2018). Gross dividend yield of 6.5% based on the closing share price on 31 December 2019, i.e. €44.70.

Extension of the duration of the revolving credit facilities by 1 year to 2024 under the same conditions and subsequent extension of the duration of 3 financial instruments by 2 years until 2024 under more favourable conditions.

Limited debt ratio of 27.9% as at 31 December 2019.

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