Retail Estates : 04/08/2023 - Publication of a transparency notification

PRESS RELEASE

Regulatory information

Ternat, August 4, 2023, 05.40 PM CET

P U B L IC A T I ON O F A T R A N SP A RE N C Y N OT I F IC A T I O N

( A R T IC L E 1 4 , F I R S T P A R AG R AP H , O F T H E B E L G I A N AC T OF 2 M AY 2 0 0 7 O N T H E D I SC L O SU R E OF SI G N I F IC AN T P A RT I C IP A T I ON S )

TRANSPARENCY NOTIFICATION

1. SUMMARY OF THE NOTIFICATION

In accordance with the Transparency Act, Retail Estates NV/SA announces the receipt on August 2nd, 2023 of a transparency notification dated August 2, 2023.

The transparency notification is issued by KBC Asset Management NV/SA, with registered office at 1080 Brussels, Havenlaan 2, registered in the Crossroads Bank for Enterprises with company number 0469.444.267, and notifies that the voting rights attached to the Retail Estates NV/SA shares held by KBC Asset Management NV/SA have crossed below the threshold of 3% of the total existing voting rights following the disposal of voting securities or voting rights, as of July 28th, 2023.

2. CONTENT OF THE NOTIFICATION

The notification dated August 2, 2023 contains the following information:

Reason for the notification

• Acquisition or disposal of voting securities or voting rights
• Downward crossing of the lowest threshold

Notification by

A person that notifies alone

Persons subject to the notification requirement

	Name	Address (for legal entities)
	KBC Asset Management NV/SA	Havenlaan 2, 1040 Brussels
Date of threshold crossing
July 28, 2023
Threshold that is crossed (in %)

3%

In accordance with Article 9 of the coordinated articles of association of Retail Estates NV/SA, the threshold above which a shareholding must be disclosed in the event of over- or undervaluation has been set at 3% of the total number of existing voting rights.

Denominator 14.375.587

Notified details

A) Voting rights

Previous

After the transaction

notification

# voting rights

# voting rights

% voting rights

Holders of

Attached

Apart from

Attached

Apart from

voting rights

to securities

securities

to securities

securities

TOTAL

B) Assimilated

financial

After the transaction

instruments

# voting

rights that

Holders of

Type of

Expiration

Exercise

can be

assimilated

acquired

% voting

financial

date

period or

Settlement

financial

when

rights

instrument

date

instruments

exercising

the

instrument

TOTAL

TOTAL (A & B)

# voting rights

% voting rights

Full chain of controlled companies through which the holding is effectively held

KBC Asset Management NV/SA is not a controlled company.

Additional information

The voting rights are held in investment portfolios, which are managed by KBC Asset Management (KBC AM) in a discretionary manner. The total amount of voting rights, held by KBC AM, exceeded the threshold of 3%, since July 6, 2017, whereby the majority of voting securities was property of KBC Verzekeringen NV/SA. To this end, KBC Verzekeringen NV/SA already made the necessary notifications towards FSMA and the issuer. A downward crossing of the lowest threshold of 3%, notified by KBC Groep NV/SA on October 14, 2021, didn't cause a downward crossing of the 3% threshold for KBC AM, considering the total amount of voting rights held, in all portfolios managed by KBC AM. Due to a sale transaction on July 28, 2023, the threshold of 3%, for the totality of investment portfolios which are managed by KBC AM, was crossed downwards, for the first time.

The notification can be consulted on the website of Retail Estates NV/SA via this link: https://www.retailestates.com/en/investors/the-share/shareholding-structure-and-notifications

This press release can be consulted on the website of Retail Estates NV/SA via this link: https://www.retailestates.com/en/press-publications/press-releases

ABOUT RETAIL ESTATES NV

The Belgian public real estate investment trust Retail Estates nv is a niche player specialised in making out-of-town retail properties located on the periphery of residential areas or along main access roads to urban centres available to users. Real Estates NV acquires these real estate properties from third parties or builds and commercialises retail buildings for its own account. The buildings have useful areas ranging between 500m² and 3,000m². A typical retail building has an average area of 1,000 m².

As of 30 June 2023, Retail Estates nv has 1,012 premises in its portfolio with a total retail area of 1,209,946 m², spread over Belgium and the Netherlands. The occupancy rate of the entire portfolio was 98.04% on 30 June 2023, compared to 98.08% on 31 March 2023.

The fair value of the consolidated real estate portfolio of Retail Estates NV as at 30 June 2023 is estimated at € 1,895 million by independent real estate experts.

Retail Estates NV is listed on Euronext Brussels and Euronext Amsterdam and is registered as a public regulated real estate company.

FORWARD-LOOKING STATEMENTS

This press release contains a number of forward-looking statements. Such statements are subject to risks and uncertainties which may lead to actual results being materially different from the results which might be assumed in this press release on the basis of such forward-looking statements. Major factors that may influence these results include changes in the economic situation, commercial, tax-related and environmental factors.

Ternat, August 4, 2023

Jan De Nys, CEO of Retail Estates nv

For more information, please contact:

Retail Estates nv, Jan De Nys - CEO, T: +32 2/568 10 20 - F:+32 475/27 84 12

Retail Estates nv, Kara De Smet - CFO, tel. [phone]