Qrf : Finalisation contribution in kind of six retail premises in Antwerp and Ostend

PRESS RELEASE Regulated information Embargo until 30/10/2017 - 07h00

QRF CITY RETAIL FINALISES THE CONTRIBUTION IN KIND OF SIX RETAIL PREMISES IN ANTWERP AND OSTEND

- DISCLOSURE PURSUANT TO ARTICLE 15 OF THE ACT OF 2 MAY 2007 (TRANSPARENCY ACT)-

On 19 October 2017, Qrf City Retail published a press release announcing that it had reached an agreement in principle regarding the contribution in kind, subject to conditions precedent, of six retail premises in "de Wilde Zee" district at the commercial heart of Antwerp (Wiegstraat 4, Wiegstraat 6 and Schrijnwerkersstraat 15) and in the Ostend city centre (Kapellestraat 105, Adolf Buylstraat 1A and Adolf Buylstraat 36).1

Together, the six retail premises will generate 665 KEUR in rental income on an annual basis.

1. Capital increase - contribution in kind

   On Friday 27 October 2017, Qrf City Retail completed the contribution in kind of the six properties in Antwerp and Ostend for a total value of 12.50 MEUR in conjunction with the issue of 536,020 new shares. The new shares were issued as the result of a capital increase, by decision of the Board of Directors of Qrf City Retail's Statutory Manager, within the framework of the authorised capital.

   1 For more information, we refer to the press release dated 19 October 2017: "Qrf City Retail reaches an agreement to acquire six retail premises in Antwerp and Ostend".

   Qrf Comm. VA • BE-REIT under Belgian law • Museumstraat 11/211 • B-2000 Antwerp

   Tel. [phone] • Fax [phone] • [e-mail] • www.qrf.be • Company No. 537 979 024 • RPR Antwerp

   The transaction resulted in the shareholders' equity of Qrf City Retail being strengthened by 12.50 MEUR, of which

   12.46 MEUR was allocated to the Capital heading and 0.04 MEUR to the Share premiums heading.

   The contributors2have been reimbursed with 536,020 newly issued Qrf City Retail shares, with the issue price set contractually at 23.32 EUR per share.

   The newly issued shares will participate in the result of the next financial year of Qrf City Retail, which will start on 1 January 2018. This means that the new shares will be issued without the coupon entitled to the dividend for the financial year of 2017 (31 December 2016 - 31 December 2017).

2. Disclosure pursuant to article 15 of the Act of 2 May 2007 (Transparency Act)

As a result of the capital increase and the issue of new shares on 27 October 2017, Qrf City Retail's total registered capital will be 131,723,955.75 EUR as of 27 October 2017. The capital is represented by 5,665,822 fully paid up ordinary shares. There are no preference shares or shares without voting rights. Nor are there any convertible bonds or warrants giving entitlement to shares. Each of these shares grants one voting right at the General Meeting of Shareholders and hence these shares represent the denominator for the purpose of disclosures in the context of the transparency regulations (disclosure in the event of reaching, exceeding or falling short of the statutory thresholds of 5% or multiple of 5%). Qrf City Retail does not apply any additional statutory threshold.

2 The retail premises located in Ostend were contributed by Horizon Retail Investeringen WP BVBA. The retail premises located in Antwerp were contributed by Horizon Retail Investeringen DMB NV. The two contributing companies are controlled by the Vanmoerkerke family.

Caution concerning forward-looking statements

This press release contains forward-looking statements involving risks and uncertainties, including statements regarding Qrf City Retail's plans, targets, expectations and intentions. Readers are reminded that such forward-looking statements involve known and unknown risks and are subject to major corporate, economic and competitive uncertainties to a large extent outside the control of Qrf City Retail. If one or more of these risks or uncertainties were to occur or should the basic hypotheses used be inaccurate, the final results may differ significantly from the assumed, expected, estimated or extrapolated results. Qrf City Retail consequently assumes no responsibility for the accuracy of these forecasts.

For more information:

Anneleen Desmyter CEO Tel.: [phone] Mobile telephone: [phone] [e-mail]

Preben Bruggeman CFO Tel. [phone] Mobile telephone: [phone] [e-mail]

About Qrf City Retail

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Qrf City Retail is a listed Belgian REIT (GVV/SIR) specialising in the niche market of inner-city retail properties in Belgium and the Netherlands. More specifically, the company focuses on the acquisition, development and leasing of centrally located city premises, within areas known as the "Golden Mile" - inner-city streets with major catchment areas. On 30 June 2017, the real estate portfolio consisted of 47 retail properties with a total fair value of 281 MEUR. As a result of the transactions mentioned above, the portfolio's Fair Value will increase to more than 290 MEUR.

Qrf City Retail has been listed on Euronext Brussels (QRF:BB) since December 2013. On 27 October 2017, the company's market capitalisation was 135 MEUR.

Qrf City Retail won the European Public Real Estate (EPRA) Gold Award for Financial Reporting for its annual report. EPRA is the voice of the European sector of real estate listed on the stock exchange, and represents 430 BEUR in property assets (www.epra.com).

Qrf City Retail is the main sponsor of Retailer of the Year Belgium 2017. On 21 September 2017 the category winners were announced during the RetailDetail Day. The overall winner will be announced on 23 November 2017. Qrf City Retail believes in the strength of the physical shop. Retailers are making concrete efforts to improve and renew their offer and service. By supporting this initiative, Qrf City Retail wants to give its customers, the retailers, a unique opportunity to understand the customer even better.