I NVESTOR PRESENTATION September 2016 I NVESTOR PRESENTATION S TPHAN - PowerPoint PPT Presentation

I NVESTOR PRESENTATION September 2016

I NVESTOR PRESENTATION S TÉPHAN SONNEVILLE S . A . C HIEF E XECUTIVE O FFICER S IDNEY D. BENS C HIEF F INANCIAL O FFICER September 2016

Overview 1. E XECUTIVE SUMMARY 2. S HAREHOLDERS & O RGANISATION 3. S TRATEGY 4. P ORTFOLIO 5. R ESULTS & F INANCIALS 6. K EY OFFERING DATA 7. K EY I NVESTMENT HIGHLIGHTS September 2016

1. E XECUTIVE S UMMARY  ATENOR is a real estate developer specializing in exceptionally located, large scale, urban projects - office buildings, mixed-use and residential complexes - built with great technical and architectural quality . The company has acquired diversified know-how which it uses to design and build projects in Belgium and other countries.  ATENOR is listed on the regulated market of Euronext Brussels.  Active for over 25 years in the real estate development sector, ATENOR has had success after success and built know-how recognised throughout the market . Over the last years, the Group has refocused its activities on real estate development alone. The record-breaking results achieved over the latest financial periods have demonstrated the value of this strategic choice. Responding to multiple changes in the real estate market, ATENOR became interested in the residential and commercial markets , therefore expanding its field of competences. This know-how based on the development of large scale, mixed use, real estate complexes has turned out to be very relevant. From a geographical standpoint and since 2007, ATENOR has also laid a solid foundation for a presence in Central Europe where it has focused on Romania and Hungary.  The focus of ATENOR is targeted towards top locations in a limited number of countries with a high development and value creation potential. Investor presentation – September 2016

Overview 1. E XECUTIVE SUMMARY 2. S HAREHOLDERS & O RGANISATION 3. S TRATEGY 4. P ORTFOLIO 5. R ESULTS & F INANCIALS 6. K EY OFFERING DATA 7. K EY I NVESTMENT HIGHLIGHTS September 2016

2. S HAREHOLDERS ’ STRUCTURE On 31 December 2015, the structure of shareholding is as follows: Investor presentation – September 2016

2. B OARD OF D IRECTORS  MG Praxis sprl  Mr Frank Donck Director Chairman represented by Mrs Michèle Grégoire  Stéphan Sonneville s.a.  Luxempart s.a. Managing Director Director represented by Mr Stéphan Sonneville represented by Mr Jacquot Schwertzer  Prince Charles-Louis d’Arenberg  Sogestra sprl Director Director  Baron Luc Bertrand represented by Mrs Nadine Lemaitre Director  Mr Philippe Vastapane  Mr Marc De Pauw Director Director  Investea sprl Director Represented by Mrs Emmanuèle Attout Investor presentation – September 2016

2. E XECUTIVE C OMMITTEE  Stéphan Sonneville s.a.  William Lerinckx Chief Executive Officer for Probatimmo bvba, Executive Officer  Sidney D. Bens  Olivier Ralet Chief Financial Officer for OR BDM sprl Executive Officer  Laurent Collier for Strat UP sprl, Executive Officer Investor presentation – September 2016

Overview 1. E XECUTIVE SUMMARY 2. S HAREHOLDERS & O RGANISATION 3. S TRATEGY 4. P ORTFOLIO 5. R ESULTS & F INANCIALS 6. K EY OFFERING DATA 7. K EY I NVESTMENT HIGHLIGHTS September 2016

3. S TRATEGY City Dox,  Urban Demographic Growth Brussels  Residential Market growing fast -> To pay attention to market segments evolution  Offices obsolescence - technical, environmental, end user’s way of occupancy The One, Brussels Europa - location  Public transport station -> To pay attention to EEC Administration evolution and structural evolution  Presence in 4 countries of which Romania and Hungary Competing with differencial advantages Vaci Greens, Hungary -> To pay attention to the favorable evolution of the economy and the real estate markets  Diversified portfolio approach Dacia one, Romania Investor presentation – September 2016

Overview 1. E XECUTIVE SUMMARY 2. S HAREHOLDERS & O RGANISATION 3. S TRATEGY 4. P ORTFOLIO 5. R ESULTS & F INANCIALS 6. K EY OFFERING DATA 7. K EY I NVESTMENT HIGHLIGHTS September 2016

4. P ORTFOLIO  According to location : 5 regios Total : 683,202 m²  According to project type & know-how : 2 sectors  Well diversified portfolio Investor presentation – September 2016

4. P ORTFOLIO 15 PROJECTS Building Permit Building Permit Projects Construction Commercialisation Introduced Obtained Trebel (Brussels) X X X X Delivered Q2-2016 The One (Brussels) X X X X Realex (Brussels) X X Due diligence ongoing Palatium (Brussels) X X X X City Dox (Anderlecht) X X X X Victor (Brussels) Les Berges de l'Argentine (La Hulpe) X Le Nysdam (La Hulpe) 70% let Port du Bon Dieu (Namur) X X X X Port du Bon Dieu (CBC) (Namur) X X X X Au Fil des Grands Prés (Mons) X X X X La Sucrerie (Ath) X X X X Les Brasseries de Neudorf (Luxembourg) X X X X AIR (Luxembourg) X X X X Delivered Q1-2016 NAOS (Luxembourg) New project Hermès Business Campus (Bucharest) X X X X Dacia I (Bucharest) New project Vaci Greens (Budapest) X X X X Investor presentation – September 2016

T REBEL N EWS (B RUSSELS ) - Provisional delivery 29/06/2016 - Contribution to HY results : € 6.62 M - Total generated results : € 47.75 M Location : European District Project : 29,766 m² offices Architects : Jaspers-Eyers & Partners Developer : Atenor Owner : European Parliament Investor presentation – September 2016

THE ONE, BRUSSELS EUROPA N EWS - Construction works in progress - Apartments’ commercialisation launched (32/99 units sold on 30/06/2016) Location : Brussels – rue de la Loi / Wetstraat Project : 29,000 m² offices + 9,000 m² residential units Architects : BURO II & ARCHI+I Developer : The One Office S.A. – The One Estate S.A. (100 % Atenor) Investor presentation – September 2016

R EALEX ( Brussels ) N EWS - New investment in the European Quarter - Period of exclusive negotiations with ERE III sarl - Due diligence ongoing Location : Brussels – rue de la Loi / Wetstraat Project : 41,000 m² offices Architects : Assar Architects Developer : Luxlex sarl (90% Atenor) Investor presentation – September 2016

P ALATIUM (Brussels) N EWS - Renovation works ongoing - Apartments ’ commercialisation going (48/155 units sold on 30/06/2016) Location : Place Jean Jacobs 6 – Bd de Waterloo 7 – 1000 Brussels Project : Mixed project (14,000 m² residential units & offices) Architects : DDS & Partners Developer : Atenor Investor presentation – September 2016

C ITY D OX (Brussels) N EWS - Elderly home sold - Construction works launched in 06/2016 Press conference on 15/09/2016 - Commercialisation apartments & offices to be launched Location : Anderlecht, on the banks of the Willebroek Canal : Mixed used project ± 145,000 m² Project Architects : Architectes Associés : Residential Building, B to B building Etau Architects : Senior Housing and Serviced Flats Developer : Senior Island S.A. & Rest Island s.a. (100 % Atenor) Immobilière de la Petite Ile s.a. (100 % Atenor) Investor presentation – September 2016

C ITY D OX (Brussels) A - MRS B - RS : logements 2 C - Logements A D - S.I.E Investor presentation – September 2016

C ITY D OX (Brussels) : logements 2 1 C Investor presentation – September 2016

V ICTOR (Brussels) N EWS - Regional Master Plan approved January, 2016 - Building permit application to be introduced 65.000 m² offices 37.500 m² residential 7.000 m² retails & services 109.500 m² Location : Brussels – South Station Project : Construction of offices, retail & residential units(109,500 m²) Architects : Jaspers-Eyers Developer : Immoange / Victor (Atenor 50 % / CFE 50 %) Investor presentation – September 2016

N EWS UP- SITE - Offices :fully sold (Brussels) - Restaurant UPPETITE open - Sale of last apartments going on - 57/58 apartments let (Up³) -Total generated result 2008-2015 : € 58 Mio. Location : Brussels – Quai de Willebroek Project : Construction of 29,615 m² offices; 1,972 m² retails; 48,435 m² residential Architects : Ateliers LION, architectes urbanistes – A.2R.C Architects Investor presentation – September 2016

L ES B ERGES DE L ’A RGENTINE (La Hulpe) N EWS - Agreement with local authorities : PCAR 1 st Building permit introduced in 2016 - - 2 nd Building permit to be introduced in 2017 Location : Rue François Dubois – 1310 La Hulpe Project : Residential and services project (26,000 m²) ± 200 residential units – 4,000 m² offices Architects : MDW Architecture Developer : Atenor Investor presentation – September 2016

N YSDAM (La Hulpe) N EWS - Acquisition in 10/2015 of 100 % of the shares - 70 % leased - In the long term : redevelopment alternatives Location : Avenue Reine Astrid 92 – 1310 La Hulpe Project : 15,600 m² offices Architects : Montois + Francois Schilling architecte Developer : Hexaten (100% Atenor) Tenants : 70% leased Investor presentation – September 2016

P ORT DU B ON D IEU « Residential » N EWS (Namur) - New commercial actions - 24 % for sale on 30/06 (111/146) Location : Namur Project : 18,225 m² - 140 residential units + 5 commercial units + 1 restaurant Architects : Atelier de l’Arbre d’Or / Montois & Partners Developer : Namur Waterfront (100 % Atenor) Investor presentation – September 2016