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Who are we?

Cofinimmo is the foremost listed Belgian real estate company

specialising in rental property. Formerly a Sicafi/Bevak, the com-

pany benefits from the RREC (Regulated Real Estate Company)

regime in Belgium. It also benefits from the SIIC regime in France

and the FBI regime in the Netherlands.

Cofinimmo adopted the status of public Regulated Real Estate

Company and became a public RREC on 06.11.2014. This status

was instaured by the Law of 12.05.2014 related to Regulated Real

Estate Companies and the Royal Decree of 13.07.2014 related to

Regulated Real Estate Companies.

Cofinimmo continues to exercice the same activities and holds

the same property assets as under the former Sicafi/Bevak

regime. In essence, it is subject to the same constraints in

terms of distribution obligation, debt ratio and diversification

of property assets. It must apply the same rules in terms of

management and organisation structure, shareholder protection

and holding of subsidiaries. It remains subject to a transparent

fiscal regime. The main changes are related to the replacement

of the concept of exclusive interest of the shareholders by the

concept of social interest, a greater flexibility of the management

body when it comes to the company strategy and the prohibition

for the company to delegate management functions. Finally, the

company is no longer subject to the legal regime of fixed capital

investment companies under the Law of 03.08.2012 related to

certain forms of collective management of investment portfolios.

At the end of 2014, its core activity segments are office prop-

erty (41.0%), healthcare real estate (40.3%) and property of

distribution networks. The latter groups a portfolio of cafés/

restaurants (Pubstone) and a portfolio of insurance agencies

(Cofinimur I) and accounts for 16.7% of the global portfolio.

In total, the properties have a surface area of 1,780,357m

2

and a

fair value of €3,2 billion. The majority of the assets are located

within the Belgian territory (77.2%). The foreign part represents

15.4% in France (healthcare real estate and portfolio of insurance

agencies), 7.1% in the Netherlands (portfolio of cafés/restaurants

and healthcare real estate) and 0.4% in Germany (healthcare real

estate). The weighed average term of the leases increased from

6.7 years at the end of 2004 to 11.0 years at the end of 2014, an

outstanding level amongst European property companies.

Cofinimmo is an independent company, which manages its

properties and clients-tenants in-house. It is listed on Euronext

Brussels, where it is included in the Bel20 index. The company’s

strategic priorities are the creation of long-term rental revenues,

a sound relationship of trust with its clients and a sustainable

management of its portfolio.

Its shareholder base is made up of individual and institutional

investors, from Belgium and abroad, looking for a moderate risk

profile combined with a high dividend yield.

Together in

real estate

Mission and values

For over 30 years, Cofinimmo’s mission is to answer the accom-

modation needs of its clients-tenants in specific buildings:

• Corporate and public authorities’ demand for flexible offices;

• Demand for healthcare real estate from operators of homes

for elderly or disabled people, or operators of revalidation,

psychiatric or acute care clinics;

• Corporate demand for sale and leasebacks of their distribution

networks;

• Public authorities’ need for purpose-built facilities.

Cofinimmo’s teams act with a concern for the well-being of the

clients as well as the other stakeholders and contribute their

expertise in order to guarantee the quality and sustainability of

the property portfolio.

The Group implements a corporate responsibility policy in terms

of energy performance of buildings in operation and under con-

struction. It also looks after its societal role vis-à-vis people and

communities.