Vastned Retail Belgium

Interim statement from the Board of Directors regarding the first quarter of 2020

Strong operational results in the first quarter of 2020 until the outbreak of the COVID-19 crisis.

Strong liquidity position as at 31 March 2020, €29.3 million of unused credit facilities available.

Limited debt ratio of 27.2% as at 31 March 2020.

Decrease in EPRA earnings in the first quarter of 2020 to €0.40 per share (€0.67 for the first quarter of 2019), this decrease is almost exclusively the result of the recognition of a provision for potential future rental losses due to the COVID-19 crisis.

Occupancy rate as at 31 March 2020: 95.7% (98.8% as at 31 December 2019).

The primary focus of the management in 2020 is once again to maintain a high occupancy rate.

Decrease in the fair value of the existing real estate portfolio of €4.0 million in the first quarter of 2020.

Full press release:

Attachment

• VRB Interim statement 31.03.2020