Icade : Promotion’s subsidiary Urbain des Bois chosen to develop an innovative and sustainable residential project in Gironde

PRESS RELEASE

Paris, May 24, 2022

ICADE PROMOTION'S SUBSIDIARY URBAIN DES BOIS CHOSEN TO DEVELOP

AN INNOVATIVE AND SUSTAINABLE RESIDENTIAL PROJECT IN GIRONDE

Urbain des Bois, an Icade subsidiary specialising in low-carbon construction, has been selected by La Fabrique de Bordeaux Métropole (La Fab) and the City of Pessac to develop a new project, namely 64 housing units in the Le Pontet Sud sector close to the centre of Pessac (Gironde).

The Urbain des Bois project is located next to a tram line and close to a number of public amenities (park, stadium, secondary school, etc.) in a neighbourhood undergoing major transformations. It will feature 64 housing units in a landscaped setting, 60% of which on the open market and 40% under a land lease which promotes affordable home ownership (Bail Réel Solidaire, or BRS) with Domofrance, in line with Icade's commitment to providing housing for all.

Designed by Berranger and Vincent Architectes, the project will be built using quality materials, such as wood and compressed earth blocks. It enhances the natural landscape by highlighting the location's key features (stream, footpath, etc.).

The project is seeking to obtain the BBCA Performance label, NF Habitat HQE certification with a Very Efficient rating as well as the BiodiverCity label, which aims to ensure that the site is developed in an environmentally friendly way while preserving the existing biodiversity.

The project will also be exemplary in terms of the circular economy: a minimum of 5% of the construction cost will be dedicated to reused materials for the building interiors. Materials reuse throughout the project, from street furniture to home interiors, will add to their personalisation. Over 60% of the units will also be designed to be modular in order to meet the changing needs of residents.

The project, scheduled to be completed by the end of 2025, represents potential revenue of €17m excluding taxes.

With a total pipeline of nearly 600 housing units and revenue of over €120m by 2026, the growth momentum of Urbain des Bois is in line with the implementation of Icade Promotion's roadmap.

ABOUT ICADE and URBAIN DES BOIS

DESIRABLE PLACES TO LIVE

As an office and healthcare property investment company (portfolio worth €15.5bn on a full consolidation basis as of 12/31/2021) and a developer of homes, offices and public amenities (2021 economic revenue of €1.1bn), 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

Charlotte Pajaud-BlanchardPress Relations Manager [phone] [e-mail]

Anne-Sophie Lanaute

Head of Financial Communication and Investor Relations [phone] [e-mail]