Aedifica : invests €13 million in the construction of a care home in Tomares (Spain) - 29/07/2022

PRESS RELEASE

19 August 2022 - after closing of markets

Under embargo until 17:40 CET

AEDIFICA

Public limited liability company

Public regulated real estate company under Belgian law

Office: Rue Belliard 40 (box 11), 1040 Brussels Enterprise number: 0877.248.501 (RLE Brussels) (the 'Company')

Aedifica invests €161 million in 4 care properties in Dublin

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Acquisition of 3 brand-new care properties: 2 care homes and a state-of-the-art transitional care unit

Forward purchase of a care home under construction All properties located in Greater Dublin, Ireland Total investment: approx. €161 million

Total capacity: 617 residents

Initial net rental yield: approx. 5%

Operator: Bartra Healthcare

Loughshinny Nursing Home - Skerries (Dublin)

Stefaan Gielens, CEO of Aedifica, commented: "Aedifica continues to expand its Irish healthcare real estate portfolio by investing approx. €161 million in four Dublin care properties. The transaction will further strengthen our position and visibility in the Irish market and contributes immediately to the Group's results. Our portfolio in Ireland will now increase to nearly €460 million upon completion of all development projects. Thanks to this transaction, we are expanding our collaboration with Bartra Healthcare, an established care home operator in Ireland."

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PRESS RELEASE

19 August 2022 - after closing of markets

Under embargo until 17:40 CET

Aedifica invests approx. €161 million in the acquisition of two brand-new care homes and a transitional care unit, and the forward purchase of a care home under construction in Dublin (Ireland).

Clondalkin Nursing Home (impression) - Clondalkin (Dublin)

Name	Location	Capacity	Construction year/	Type of care
		(units)	completion date
Loughshinny Nursing Home	Ballykea, Blackland, Skerries, Co. Dublin	125	2019	Elderly care
Northwood Nursing Home	Old Ballymun Road, Santry, Co. Dublin	121	2020	Elderly care
Beaumont Lodge	Kilmore Road, Kilmore, Co. Dublin	221	2020	Transitional care
Clondalkin Nursing Home	New road, Clondalkin, Co. Dublin	150	Q3 2023	Elderly care
Total		617

Description of the sites

Loughshinny Nursing Home and Northwood Nursing Home are brand-newcare homes completed in 2019 and 2020. Beaumont Lodge (completed in 2020) is Ireland's largest transitional care unit, i.e.

1. short-termcare facility where patients stay for step-down care after being discharged from an acute care facility before transitioning to home or to another care setting. Transitional care is funded through a contract with Ireland's publicly funded Health Service Executive (HSE). The three buildings have excellent locations in residential areas in Skerries, Santry and Coolock, all part of the Greater Dublin Area (1,900,000 inhabitants, County Dublin). Loughshinny Nursing Home and Northwood Nursing Home accommodate up to 246 residents in spacious ensuite bedrooms specifically tailored to suit the needs of elderly people requiring continuous care. Beaumont Lodge will accommodate up to 221 adults in need of full-timestep-down care, however the building is also fit for being operated as an elderly care home. The properties meet the highest standards of care and comfort, catering to the upper mid-market segment. Special attention was paid to environmental standards and investments were made in energy- efficient systems. The buildings have a 'B1' Building Energy Rating1 (BER), contributing to the continued improvement of the sustainability of Aedifica's real estate portfolio.

1 Equivalent to an Energy Performance Certificate (EPC).

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PRESS RELEASE

19 August 2022 - after closing of markets

Under embargo until 17:40 CET

Northwood Nursing Home - Santry (Dublin)

Clondalkin Nursing Home is currently being developed in a residential area in Clondalkin, also part of the Greater Dublin Area. It will accommodate up to 150 residents in spacious ensuite bedrooms that are specifically tailored to suit the needs of elderly people requiring continuous care. Contributing to the continued improvement of the sustainability of Aedifica's real estate portfolio, the building will use energy-efficient systems, which should result in an 'A2' BER. Construction works have already started and are expected to be completed in the third quarter of 2023.

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PRESS RELEASE

19 August 2022 - after closing of markets

Under embargo until 17:40 CET

Beaumont Lodge - Kilmore (Dublin)

Description of the transaction

On 19 August 2022, Aedifica acquired ownership of Loughshinny Nursing Home, Northwood Nursing Home and Beaumont Lodge. The agreement for the forward purchase of Clondalkin Nursing Home was also signed today. Aedifica will acquire ownership of the building upon completion of the construction works in 2023. The total contractual value2 (including Clondalkin Nursing Home upon completion) amounts to approx. €161 million of which €125 million has already been paid.

Description of the operator and the leases

The care properties will be operated by Bartra Healthcare, a premium quality operator providing individualised care in a safe, friendly and comfortable environment with key attention paid to dignity, privacy and respect. Bartra Healthcare currently operates approx. 462 beds in three residential care facilities in Dublin. The operator offers a range of services for residents (mental health care, dementia care, palliative care, etc). Bartra Healthcare will also operate Aedifica's care home that is currently under development in Crumlin (Dublin)3.

As is customary in Ireland, the care properties will be let on the basis of new irrevocable 25-year triple net leases that are fully indexed to the consumer price index (CPI). The initial net rental yield amounts to approx. 5%.

1. The contractual value complies with the provisions of article 49 § 1 of the Belgian Act of 12 May 2014 on regulated real estate companies.
2. See press release of 16 March 2022.

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PRESS RELEASE

19 August 2022 - after closing of markets

Under embargo until 17:40 CET

Investments since the beginning of 2022

The investments made by the Group since 1 January 2022 are listed in the table below4.

(in € million)	Date	Location	Investments	Pipeline 1	Total
				carried out
UK	Market Drayton Great Hales 2	17/02/2022	Market Drayton	-	16	16
SE	Nynäshamn Källberga 2	21/02/2022	Nynäshamn	2	17	19
SE	Strängnäs Bivägen 2	28/02/2022	Strängnäs	0	2	2
IE	Crumlin	16/03/2022	Dublin	6	27	32
FI	Liminka Saunarannantie	16/03/2022	Liminka	2	-	2
FI	Kerava Lehmuskatu	16/03/2022	Kerava	-	7	7
FI	Äänekoski Ääneniementie	16/03/2022	Äänekoski	-	2	2
FI	Jyväskylä Ailakinkatu	22/03/2022	Jyväskylä	-	2	2
FI	Tampere Teräskatu	24/03/2022	Tampere	-	8	8
UK	Rawdon care home 2	24/03/2022	Rawdon	5	12	17
UK	Northampton care home 2	24/03/2022	Northampton	5	12	17
DE	An der Therme	25/03/2022	Mühlhausen	8	-	8
NL	Oosterbeek Warm Hart 3	01/04/2022	Oosterbeek	5	3	7
UK	Dawlish 2	01/04/2022	Dawlish	3	13	15
UK	Channel Island portfolio (6 properties) 2	01/04/2022	United Kingdom	54	15	69
IE	Silver Stream portfolio (3 properties)	01/04/2022	Ireland	35	22	57
SE	Staffanstorp Borggårdsallén 2	01/04/2022	Staffanstorp	3	-	3
FI	Helsinki Käräjätuvantie	20/04/2022	Helsinki	-	8	8
FI	Helsinki Kutomokuja	20/04/2022	Helsinki	-	8	8
FI	Oulu Jahtivoudintie	30/04/2022	Oulu	-	9	9
FI	Valkeakoski Juusontie	04/05/2022	Valkeakoski	-	2	2
FI	Oulu Pateniemenranta	06/05/2022	Oulu	-	2	2
IE	Dunshaughlin Business Park	11/05/2022	Dunshaughlin	2	17	19
BE	Résidence Véronique	17/05/2022	Somme-Leuze	11	10	21
IE	Craddock House Nursing Home	17/05/2022	Naas	11	-	11
FI	Rovaniemi Rakkakiventie	19/05/2022	Rovaniemi	-	3	3
NL	CosMed Kliniek 3	25/05/2022	Bosch en Duin	7	-	7
UK	Sleaford Ashfield Road	31/05/2022	Sleaford	3	10	13
UK	Hooton Road	01/06/2022	Hooton	2	14	17
UK	Creggan Bahn Court	20/06/2022	Ayr	10	-	10
BE	Militza portfolio (2 properties)	06/07/2022	Bruges & Ghent	50	19	69
NL	Het Gouden Hart Almere 4	06/07/2022	Almere	2	7	9
FI	Espoo Ylismäenkuja	06/07/2022	Espoo	-	1	1
UK	Spaldrick House 2	20/07/2022	Port Erin	-	12	12
FI	Oulu Vaarapiha	25/07/2022	Oulu	-	15	15
ES	Tomares Miró	29/07/2022	Tomares	2	11	13
FI	Oulu Riistakuja	01/08/2022	Oulu	9	-	9
IE	Bartra portfolio (4 properties)	19/08/2022	Dublin	125	36	161
Total as of 19 Augsut 2022			362	343	704

1. The pipeline includes development projects and acquisitions subject to outstanding conditions.
2. Amounts in £ and SEK were converted into € based on the exchange rate of the transaction date.
3. This project is being developed within the joint venture with Dunavast-Sonneborgh, in which Aedifica holds a 75% stake.
4. This project is being developed within the joint venture with the Korian group. Aedifica and Korian will each finance 50% of the total budget. This table only considers the part of the budget that will be financed by Aedifica.

4 The figures in this table are rounded amounts. The sum of certain figures might therefore not correspond to the stated total.

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