Cegereal Demonstrates Its Resilience and Adapts Its Dividend in the Current Context

Regulatory News:

Faced with the current health and economic crisis, Cegereal (Paris:CGR) first wishes to express its solidarity with all those who have been affected, either directly or indirectly, by the Covid-19 epidemic. Since early March, the Company has adopted a number of measures to ensure the health and safety of its teams, partners and clients and, at the same time, maintain its operations.

A robust business model to weather the crisis

Cegereal remains attentive to its tenants' needs and is carefully examining how the crisis is affecting their respective businesses. This close and collaborative dialogue will enable us to better manage this challenging period by offering solutions tailored to their ways of working.

As an office focused REIT with a strong international tenant base, Cegereal was able to collect approximately 90% of rents and service charges in the second quarter of 2020.

Moderation of the dividend payout

Even if the operational performance of the second quarter of this year is good and the financial position of the company strong enough to face the current health crisis, it is still too early to accurately measure the impact that this crisis will have on the Company’s annual financial results. In order to maintain its operational and financial agility in this uncertain time, the Board of Directors will ask shareholders at the upcoming General Shareholders' Meeting to approve an adjusted dividend of €0.75 per share, compared with the €2.30 initially proposed. The proposed dividend is sufficient to meet the Group's distribution obligations for the 2019 financial year as per the SIIC regime.

General Shareholders’ Meeting confirmed

Cegereal has decided to hold its June 16, 2020 General Shareholders' Meeting at the Company’s registered office (42 rue de Bassano, 75008 Paris, France) for now. The General Shareholders' Meeting may be convened remotely and shareholders will be notified by Cegereal of any change.

Cegereal recommends, however, that shareholders participate in the Meeting by voting remotely or by appointing the Chairman of the General Shareholders' Meeting as proxy. For further information, shareholders are invited to regularly visit the "Regulated information" section of the Company’s website.

Investor Calendar

May 15, 2020			First-quarter 2020 revenue
June 16, 2020			General Shareholders’ Meeting
June 23, 2020			Dividend payment
July 29, 2020			First-half 2020 results

About Cegereal

Created in 2006, Cegereal is a listed property company that invests in prime office properties in Greater Paris. The total value of the portfolio is estimated at €1,464 million at December 31, 2019 (excluding transfer duties).

Thanks to its strong commitment to environmental, social and governance issues, Cegereal achieved first place among listed companies in Europe in the 2019 Global Real Estate Sustainability Benchmark (GRESB) ranking. Its entire portfolio has achieved NF HQE^TM Exploitation and BREEAM In-Use International certification.

Cegereal is a REIT listed on Euronext Paris since 2006, in compartment B (ISIN: FR0010309096). The Company had a market capitalization of €601million at April 22, 2020.

www.cegereal.com

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