Xior Student Housing : enters Zaragoza by winning public tender for the development of a new flagship student residence

PRESS RELEASE

Antwerp, Belgium - 20 September 2021

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Xior enters Zaragoza by winning public tender for the development of a new flagship student residence

Xior wins Zaragoza tender adding 6th city to Spanish portfolio

Xior Student Housing N.V. ("Xior"), a Belgian real estate investment trust (BE-REIT) specialized in student housing in Belgium, the Netherlands, Spain and Portugal, is proud to announce it has won a tender process launched by Zaragoza Vivienda (fully controlled by Zaragoza Municipality), to develop and operate a flagship student residence in Zaragoza city centre. This is a follow-up on the earlier press releaseregarding this tender. With this acquisition, Xior adds a 6th city to the portfolio, continuing its expansion strategy in Spain.

Key details of the project:

• New development project with approx. 388 units & various communal facilities
• Mix of rooms for students, professors, and young professionals
• Expected delivery ahead of 2023/24 academic year
• A surface rights concession, for a 75-year period
• Total investment value of approx. 26 MEUR
• Expected stabilised gross yield of approx. 8%

Bastiaan Grijpink, Country Manager Iberia: "We are extremely proud to have been granted the opportunity to develop a flagship student residence in Zaragoza, more so in such an iconic location. It is testimony of the strength of the Xior platform that we have developed in Spain since we started operations in 2019. We look forward to working hand in hand with the leadership of Zaragoza Municipality to make this project a huge success. This project will have a significant contribution to the regeneration of Zaragoza Pignatelli and we are confident that it will become an essential part of what Zaragoza has to offer to the national and international student community".

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PRESS RELEASE

Antwerp, Belgium - 20 September 2021

Regulated Information

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Project details

The project consists of two separate but neighboring land plots, both of which have standing buildings of former military use, which require rehabilitation. Both of these buildings will also be extended.:

• Calle Madre Rafols 4 (6,066 sqm buildability). Former military barracks that will undergo a full refurbishment, and also be extended with an annex.
• Calle Madre Rafols 8-10-12 (7,448 sqm buildability). Former military residence that will undergo a full refurbishment and be extended at both ends with two annexes.

Relevant aspects of the project:

• The project includes single, double, triple, cluster and apartment style rooms, providing a highly diversified offer suitable for students, professors and young professionals. A specific number of beds will be made available to the University of Zaragoza.
• The residence will accommodate a wide array of common areas, such as a gym, study rooms, co- working areas, a dining room, a cafeteria, laundry room, etc.
• Xior will promote and coordinate cultural activities aimed at highlighting the importance of this historic location to its residents and to the community as a whole.
• Numerous amenities and services offered by the residence will be open to the neighborhood, allowing for a seamless integration of the residents into the local community.

The main objective behind this project is to try and bridge the gap between supply and demand in Zaragoza for modern and professional student housing, as well as to revitalize the Pignatelli area through the vibrant Xior Student community atmosphere. The iconic buildings and their preservation stand at the heart of the project.

The total investment value amounts to approx. 26 MEUR with an expected stabilised gross yield of approx. 8% and is expected to be delivered ahead of the academic year 2023-2024.This announcement of Xior's winning bid remains conditional upon several formalities, namely the period for appeals to lapse, and the formalization of a binding contract with Zaragoza Vivienda.

Location

The project is located in the Old Town city centre, barely a 10-minute walk away from the Zaragoza Cathedral (Nuestra Señora del Pilar), a 15-minute commute to Zaragoza University and a 10-minute commute to the high-speed train station.

Zaragoza has a rich history and cultural heritage and is among the most economically developed cities in Spain, with higher-than-average living standards. It is located in the Northeast of Spain and has a population of close to 1 million people. In addition, Zaragoza has an extensive range of public services, making it ideal for residents, tourists, workers and both national and international students.

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PRESS RELEASE

Antwerp, Belgium - 20 September 2021

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Zaragoza, capital of the Autonomous Community of Aragón, benefits from a large transport network, connecting with the rest of the Peninsula, as well as other national and international destinations. By road it is connected to Madrid through its A2 highway network among other secondary motorways. Zaragoza train station of Delicias connects the city center with the other areas of the city as well as the main cities in the Peninsula. Moreover, Zaragoza's international airport is one of the most important airports located in the mid North of Spain where in 2019 registered 467,000 passengers throughout its terminals.

Zaragoza is strategically located, guaranteeing rapid access to the city from any Spanish or international destination. It is well known for its historical buildings, university life and gastronomy and its main attractions are, among others: museums, historical palaces, iconic buildings, shopping centers and restaurants.

Student Housing market Spain & Zaragoza

As of the end of 2020, Zaragoza had a total of approximately 42,000 students among its two public and private universities. The main university is Universidad of Zaragoza. Zaragoza's market for purpose-built student accommodation has developed more slowly than in other cities of a similar size. The city is Spain's fifth largest by population.

Higher education in Spain has experienced significant growth, modernisation, and internationalisation in recent years. As a result, 40% of Spaniards today have higher education levels than their parents. More young adults are choosing higher education, and the population aged 18-24 is expected to grow by 11% between 2018 and 2025.

This contributes to the growing demand for high-quality,purpose-built student accommodation among more than 1.6 million students enrolled at universities in the country. While there has recently been a surge in investments in student housing in Spain, demand is expected to continue to exceed supply for many years to come.

Spain is also a major destination for international students. Affordable living costs, mild weather, a rich culture and history coupled with a strong education offering has made Spain the top destination in Europe for students within the Erasmus program. Latin American students also see Spain as a highly attractive study destination.

For more information, please contact:
Xior Student Housing NV	Christian Teunissen, CEO	Xior Investor Relations
Mechelsesteenweg 34, box 108	Frederik Snauwaert, CFO	Sandra Aznar
2018 Antwerp, Belgium	[e-mail]	Head of Investor Relations
www.xior.be	T [phone]	[e-mail]
		T [phone]

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PRESS RELEASE

Antwerp, Belgium - 20 September 2021

Regulated Information

Insider Information

About Xior Student Housing

Xior Student Housing NV is the first Belgian public regulated real estate company (RREC) specialising in the student housing segment in Belgium, the Netherlands, Spain and Portugal. Within this property segment, Xior Student Housing offers a variety of accommodation, ranging from rooms with shared facilities to en-suite rooms and fully equipped studios. Since 2007, as owner- operator, Xior Student Housing has built high-quality, reliable student accommodation for students looking for the ideal place to study, live and relax. A place with that little bit extra, where every student immediately feels at home.

Xior Student Housing has been accredited as a public RREC under Belgian law since 24 November 2015. Xior Student Housing's shares have been listed on Euronext Brussels (XIOR) since 11 December 2015. On 30 June 2021, Xior Student Housing held a property portfolio worth approximately EUR 1.602 billion. More information is available at www.xior.be.

Xior Student Housing NV, a Public RREC under Belgian law (BE-REIT)

Mechelsesteenweg 34, box 108, 2018 Antwerp, Belgium

BE 0547.972.794 (Antwerp Register of Legal Entities, Antwerp Division)

Disclaimer

This press release contains forward-looking information, projections, convictions, opinions and estimates produced by Xior in relation to the expected future performance of Xior and of the market in which it operates ('forward-looking statements'). By nature, forward-looking statements involve inherent risks, uncertainties and assumptions, both general and specific, that appear justified at the time at which they are made but which may or may not turn out to be accurate, and there is a risk that the forward-looking statements will not be realised. Some events are difficult to predict and may depend on factors outside of Xior's control. In addition, the forward-looking statements are only valid on the date of this press release. Statements in this press release relating to past trends or activities may not be interpreted as an indication that such trends or activities will persist in future. Neither Xior nor its representatives, officers or advisers can guarantee that the parameters upon which the forward-looking statements are based are free of errors, nor can they indicate, guarantee or predict whether the expected results set out in such a forward-looking statement will ultimately be achieved. Actual profits, the financial situation and Xior's performance or results may therefore differ substantially from the information projected or implied in forward-looking statements. Xior expressly does not accept any obligations or guarantees as to public updates or reviews of forward-looking statements unless required to do so by law. This press release has been prepared in English and has been translated into Dutch and French. In case of discrepancies between the different versions of this press release, the English version will prevail.

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