Icade : announces the launch of the Initial Public offering of Icade Santé on the regulated market of Euronext Paris

Paris, September 21, 2021- 8.45 pm

Icade announces the launch of the Initial Public offering of Icade Santé on the regulated market of Euronext Paris

Icade, shareholder of Icade Santé with a 58.3% stake to date, announces today that the French financial markets authority (Autorité des marchés financiers, "AMF") granted its approval on the prospectus relating to Icade Santé's Initial Public Offering (IPO) under number 21-410.

The IPO includes a primary offering of 800M€, and, in addition, as part of the requirement to achieve a free float of 15% for listed real-estate companies (SIIC), Icade may sell shares in the offering, so that Icade Santé's free float could reach up to 15.5%,representing a maximum number of shares of 1 421 988, on the basis of an offering price equal to the high end of the indicative offer price range, and including the full exercise of the over-allotment option of 10%.

Indicative price range applicable to the French Public Offering and the International Private Placement: between

115.00 euros and 135.00 euros per share. The indicative timetable is as follows :

• Duration of the French public Offering : from September 22, 2021 until September 29, 2021 (included);
• Duration of the International Private Placement: from September 22, 2021 until September 30, 2021, noon (Paris time);
• Pricing of the offering : September 30, 2021
• Listing date on Euronext Paris (compartment A) : 1st October 2021.

The IPO of Icade Santé is fully in line with the 2019 - 2022 strategic plan of the Icade Group and its ambition to make Icade Santé the leading European healthcare real estate platform. With the IPO, Icade Santé will finance its investment plan of €3bn by the end of 2025, with a strong balance sheet, and will accelerate its pan European expansion. Icade intends to support the growth ambition of Icade Santé.

Icade will remain the controlling shareholder in Icade Santé post IPO and will therefore continue to consolidate Icade Santé using the full consolidation method. Healthcare real estate will remain a key component of the Icade Group business model.

Both Icade Santé's press release and IPO prospectus are available on www.icade-sante.eu.

ABOUT ICADE

Desirable places to live

As an office and healthcare property investment company (portfolio worth €14.8bn on a full consolidation basis as of 06/30/2021) 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. The text of this press release is available on the Icade website: www.icade.fr/en/

CONTACTS
Anne-Sophie Lanaute	Charlotte Pajaud-Blanchard
Head of Financial Communication and Investor Relations	Press Relations Manager
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[e-mail]	[e-mail]

Disclaimer

This press release does not contain or constitute an offer of securities for sale or an invitation or inducement to invest in securities in France, the United States or any other jurisdiction.

The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes are required to inform themselves about and to observe any such restrictions.

The securities referred to herein may not be offered or sold in the United States of America absent registration or an applicable exemption from registration under the U.S. Securities Act of 1933, as amended. The Group does not intend to register all or any portion of the offering of the securities in the United States of America or to conduct a public offering of the securities in the United States of America.