Icade Santé - Handover of four facilities for a total investment of €76M, liquidity event : IPO currently the preferred option, a CFO appointed

PRESS RELEASE

Paris, June 7, 2021, 7:30 a.m

ICADE SANTÉ:

HANDOVER OF FOUR FACILITIES FOR A TOTAL INVESTMENT OF €76M,

LIQUIDITY EVENT: IPO CURRENTLY THE PREFERRED OPTION,

A CFO APPOINTED

Operating activities

• Four facilities handed over to healthcare and senior services providers, representing a total investment of €76m which will generate immediate additional rental income.
• This further demonstrates the strong momentum of the development pipeline and the Icade Group's unique expertise in building major healthcare projects.

Liquidity event

• Preferred option: going public on Euronext Paris by the end of 2021, subject to market conditions.
• Appointment of Helga Camalon, currently Director Real Estate Industry Group at BNP Paribas CIB, with nearly 25 years of experience in the real estate sector, as CFO of Icade Santé.
• Additional information on the proposed transaction will be provided at the time the Icade Group's H1 2021 results are announced on July 26, 2021.

Operating activities: handover of four new facilities in France

Icade Santé recently handed over four facilities to healthcare and senior services providers. These assets, representing a total investment of €76m and nearly 31,000 sq.m, will generate immediate additional rental income (100% occupancy rate).

These transactions reflect the strong momentum of the development pipeline and the Icade Group's unique expertise in building major healthcare projects through a long-term partnership approach with its tenant operators.

Including the facilities in Germany, Italy and Spain, the Healthcare Property Investment Division's portfolio is worth over €5.7bn and totals 179 properties, including 40 outside France.

Grand Narbonne private hospital (Aude) handed over to ELSAN

Handed over by Icade Santé in May 2021, the facility will house ELSAN's acute care (medicine and surgery) and post-acute care services for the Narbonne area. Its lease term is 12 years with no break option.

The 20,570-sq.m facility was entirely designed using Building Information Modelling (BIM) and has obtained HQE certification with an Excellent rating.

For this project representing a total investment of €48m excluding taxes and including duties, Icade Promotion acted as Icade Santé's Delegated Project Manager for the hospital and built an adjoining 4,000‑ sq.m clinic to be run by the hospital's doctors and a 1,000‑ sq.m medical imaging centre.

Sur Moreau facility (Charente-Maritime) handed over to the Korian Group

This handover was carried out under the partnership agreement signed by Icade and Korian in December 2017 for the purpose of assisting the Korian Group in refurbishing and expanding its network of facilities in France.

The Sur Moreau post-acute care facility covers 4,702 sq.m with a capacity of 82 beds and places. It will house the Korian Group's Saint-Pierre-de-l'Isle private hospital on a 12-year lease with no break option.

Icade Santé invested a total of €9.6m excluding taxes and including duties in this project. Icade Santé relied on the expertise of Icade Promotion which carried out the construction work under a property development contract.

Saint-Pierre private hospital extension in Perpignan (Pyrénées-Orientales) handed over to ELSAN

Icade Santé invested €8.7m including taxes and duties to expand and refurbish the Saint-Pierre private hospital

in Perpignan, operated by ELSAN.

Following an initial refurbishment of the outpatient department which was handed over in January 2021, the extension made it possible to accommodate additional operating rooms, including a hybrid one, in the operating suite. The facility now has a total floor area of 18,234 sq.m.

The work will continue on the site until April 2022. It will include refurbishing the intensive care unit located right next to the operating suite, providing direct access from the intensive care unit to the operating suite, expanding the recovery unit and fitting out rooms in the cardiovascular unit.

Ambrussum PAC facility in Lunel (Hérault) handed over to Pôle de Santé Lunellois

Icade Santé handed over a post-acute care facility specialised in age-related illnesses to the public/private Pôle de Santé Lunellois (Healthcare Cooperation Consortium bringing together the Clinipole Group and the Lunel public hospital) under a 12-year lease with no break option.

With a floor area of roughly 5,100 sq.m and 79 beds and places, the facility has obtained HQE certification with an Outstanding rating.

Icade Santé invested a total of €11.5m excluding taxes and including duties in this project. Icade Promotion acted as its Project Manager.

Liquidity event

As part of the preparation for the liquidity event, which is one of its priorities for the year 2021, and to finance its ambitious development and investment plan, the option favoured by Icade is going public on Euronext Paris by the end of 2021, subject to market conditions.

Icade will provide further information on the proposed transaction when it announces its 2021 half-year results, scheduled for July 26.

Helga Camalon appointed as CFO of Icade Santé

As part of the project mentioned above, Icade Santé has announced the appointment of Helga Camalon as Chief Financial Officer. Currently Director Real Estate Industry Group at BNP Paribas CIB, 53-year-old Helga Camalon is a recognised professional in the real estate sector. Throughout her 25 years of experience, she has been involved in many strategic real estate projects (M&A, IPOs, financing, asset disposals, etc.).

ABOUT ICADE

DESIRABLE PLACES TO LIVE

As an office and healthcare property investment company (portfolio worth €14.7bn on a full consolidation basis as of 12/31/2020) and a developer of homes, offices and public amenities (2020 economic revenue of €825m), 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.

ABOUT ICADE SANTÉ

With a portfolio worth €5.2 billion (on a full consolidation basis) as of December 31, 2020, Icade Santé is the leading investor in private healthcare facilities in France. A 58.3% owned subsidiary of the Icade Group, Icade Santé draws on its proven expertise, its long-term shareholders as well as its extensive knowledge of the real estate value chain. Since 2017, Icade Santé has pursued a strategy of diversification into the nursing home segment.

Icade and Icade Santé are rated BBB+ with a stable outlook by rating agency S&P.

The text of this press release is available on the Icade website: www.icade.frand on the Icade Santé website: https://icade-sante.fr

This press release does not constitute an offer to sell or a solicitation to purchase any securities in France, in the United States or in any jurisdiction.

CONTACTS

Charlotte Pajaud-Blanchard,Press Relations Manager [phone] [e-mail]

Anne-Sophie Lanaute

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