EQS-Adhoc

Swiss Life REF (CH) Swiss Properties: capital increase planned for acquisition of a high-quality new portfolio

EQS Group-Ad-hoc: Swiss Life Asset Management AG / Key word(s): Capital Increase Swiss Life REF (CH) Swiss Properties: capital increase planned for acquisition of a high-quality new portfolio 01-Sep-2021 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Zurich, 1 September 2021 Ad hoc communication in accordance with Art. 53 LR

Swiss Life REF (CH) Swiss Properties: capital increase planned for acquisition of a high-quality new portfolio

A capital increase is planned for Swiss Life REF (CH) Swiss Properties in December 2021. The aim of the capital increase is to acquire a high-quality real estate portfolio worth around CHF 350 million.

The real estate fund Swiss Life REF (CH) Swiss Properties was launched on 2 November 2015 and successfully listed on the SIX Swiss Exchange in June 2019. The earnings and value trend of the properties as well as the expansion of the portfolio have enabled the fund to develop successfully (annual performance since launch: 10.6%). Its investment focus is on residential real estate in Swiss cities and their surrounding areas. The fund also invests in commercial properties at central locations. The portfolio had 138 properties with a market value of around CHF 1 967 million as at the end of March 2021.

The acquisition of a high-quality new portfolio worth some CHF 350 million is being studied with a view to continuing the strategy of qualitative growth. The portfolio is currently owned by Swiss Life Ltd. Swiss Life Asset Management Ltd. has received the requisite authorisation from FINMA for the planned acquisition. The issue of new fund units to finance the new portfolio is planned towards the end of 2021. Investors will benefit from the further increase in diversification achieved through expansion of the portfolio.

The new portfolio comprising 18 properties is characterised by a high quality of location and property. The properties concerned are residential ones in economically strong regions. Almost half the properties (measured by market value) are located in the cities of Zurich, Geneva and Lausanne or their immediately adjacent municipalities. The remaining properties are located in small and medium-sized centres and in suburbs of the major cities.