Retail Estates : Results of the ordinary general shareholders' meeting of 18 July 2022

PRESS RELEASE

Regulatory information

Ternat, 18 July 2022

RE SU LTS OF THE ORD IN ARY GEN ERAL SHAREHOLD ERS' MEETING OF 18

JULY 20 22

Retail Estates organised an ordinary general shareholders' meeting on Monday 18 July 2022.

Approval of the statutory accounts for the financial year closed on 31 March 2022 and allocation of the results

The general shareholders' meeting approved the statutory accounts of Retail Estates for the financial year closed on 31 March 2022, including the allocation of the results.

The gross dividend payable for the financial year 2021-2022, represented by coupon no. 30, is fixed at € 4.60 per share. After deduction of the 30% withholding tax, the net dividend for the financial year 2021-2022 amounts to € 3.22 per share.

Coupon no. 30 was already detached on 9 June 2022 after market closing, at the occasion of the capital increase of June 2022.

The dividend is payable as from 25 July 2022.

For the dematerialised shares, payment to the shareholders is made by the financial institutions where the shares are placed on a securities account. The company will pay the dividend for the registered shares to the shareholders by means of a bank transfer.

Appointment

The general meeting decided to appoint Mr. Dirk Vanderschrick, who was previously co-opted by the board of directors as a non-executive director to replace Mr. Christophe Demain, as a non- executive director of the company for a term ending after the annual general meeting in 2025. His mandate was approved by the FSMA.

The board of directors of Retail Estates is thus composed at present as follows:

• Paul Borghgraef, chairman, non-executive director
• Jan De Nys, CEO, executive director
• Kara De Smet, CFO, executive director
• René Annaert, non-executive, independent director
• Ann Gaeremynck, non-executive, independent director
• Leen Van den Neste, non-executive, independent director
• Victor Ragoen, non-executive director
• Michel Van Geyte, non-executive director
• Dirk Vanderschrik, non-executive director

Other agenda items

All the other agenda items were approved by the ordinary general meeting.

Minutes

The minutes of the general meeting are available on the website of Retail Estates.

ABOUT RETAIL ESTATES NV

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

As of 31 March 2022, Retail Estates NV has 987 premises in its portfolio with a total retail area of 1,177,577m², across Belgium and the Netherlands. The occupancy rate of the portfolio was 97.83% on 31 March 2022, compared to 97.07% on 31 March 2021. The fair value of the consolidated real estate portfolio of Retail Estates NV as at 31 March 2022 is estimated at EUR 1,759.88 million by independent real estate experts.

Retail Estates NV is listed on the regulated markets of Euronext Brussels and Euronext Amsterdam and is registered as a public regulated real estate company ("RREC").

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, 18 July 2022

Jan De Nys, CEO of Retail Estates nv

For more information, please contact:

Retail Estates nv, Jan De Nys - CEO, tel. [phone]

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