Qrf : Sale of non-strategic property at Temse

Regulated information Embargo until 21/12/2017 - 18h00

QRF CITY RETAIL SELLS NON-STRATEGIC RETAIL PROPERTY IN TEMSE

Qrf City Retail, the Belgian specialist in inner-city retail property, has finalised the sale of a non-strategic retail property, situated at 4-8 Orlaylaan, Temse.

Located in the periphery of Temse, the site consists of three units, which are fully let to Brico, Oxygen Fitness and Wereldkeuken Temse, and generates an annual rental income of approximately 297 KEUR.

The net selling price (after deduction of the registration fees and other transfer costs) is 4.5 MEUR, which is above the Fair Value according to the most recent appraisal at the time of disposal.

This divestment is in line with the dynamic management of Qrf City Retail, which strives to optimize the real estate portfolio.

As a result of this divestment and the reinforcement of the shareholder's equity of Qrf City Retail by 12.5 MEUR due to the contribution in kind of six retail premises in October 20171, the Debt ratio of Qrf City Retail is expected to decrease from 56.4% on 30 September 2017 to approximately 53% on 31 December 2017.

1 See the press release of 30 October 2017: "Qrf City Retail finalises the contribution in kind of 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

Caution concerning forward-looking statements

Regulated information Embargo until 21/12/2017 - 18h00

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

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Mobile telephone: [phone]

[e-mail]

About Qrf City Retail

www.qrf.be

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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. As a result of the sale of the property situated in Temse (Orlaylaan 4-8) announced on 21 December 2017 and the contribution in kind of six properties in Antwerp and Ostend announced on 30 October 2017, the real estate portfolio consists of 52 retail properties with a total Fair Value of approximately 287 MEUR.

Qrf City Retail has been listed on Euronext Brussels (QRF:BB) since December 2013. On 20 December 2017, the company's market capitalisation was 140 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, an award conferred annually by consumers to the best retail chain of Belgium. On 23 November 2017, Standaard Boekhandel won the title of Best Retail Chain of Belgium 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.

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

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