ICADE – Q1 2019 Performance : a strong Q1 for the property investment divisions

Office Property Investment: rental income up 2.7% on a like-for-like basis  

48 leases were signed or renewed during the quarter for nearly 82,946 sq.m  

A financial occupancy rate of 91.4%  

Investments accelerated to €108 million, primarily in the development pipeline

Healthcare Property Investment: rental income soars by +14.2%

Significant increase in rental income due to 2018 completions and acquisitions (+2.7% on a like-for-like basis)

7 leases secured during the quarter for a WAULT of 10.6 years, resulting in a portfolio WAULT of 7.7 years

Expansion continues with the signing of a preliminary agreement for the acquisition2 of 12 medium and long-term care assets for €191 million

Property Development: lower revenue and residential backlog up nearly 5%3

Consolidated revenue drops 28.5% to €148.5 million; residential segment: -14.7%

Growth in the backlog (€1,195 million, up +2.8%3 ) and land portfolio (€2.5 billion in potential revenue at the end of March 2019)

Icade continues to perform well in competitive selection processes: contract for the “Inventing Bruneseau” project which features a buildable area of 100,000 sq.m awarded in February 2019

Executive Committee appointments and changes in governance

2019 guidance confirmed:

Stable Group net current cash flow per share, excluding the impact of any opportunistic disposals in 2019

2019 dividend: c.+4.5%