Aedes SIIQ S p A : Press Release

Comunicato Stampa Press Release

• SIGNED THE DEFINITIVE SALE CONTRACT OF THE "TORRE E" WITH DESTINATION OFFICES LOCATED IN VIALE RICHARD IN MILAN
• SELLING PRICE OF € 12 MILLION (OF WHICH € 10.5 MILLION PAID TO CLOSING), SLIGHTLY IMPROVEMENT COMPARED TO MARKET VALUE AS AT 30 JUNE 2020
• THE SALE OF THE PROPERTY, WHICH WAS NOT THE SUBJECT OF FINANCING, ALLOWS A CASH FLOW AND AN IMPROVEMENT OF NFP EQUAL TO THE PAID PRICE

Milan 28 September 2020 - Aedes SIIQ S.p.A. (MTA: AED) announces that, today, it has signed, with a primary institutional investor, the final contract for the sale of the E Tower, for office use and a GLA of over 8,000 square meters, located in Milan in Viale Giulio Richard 3.

The selling price, amounting to € 12.0 million, €1.5 million of which subject to the fulfilment of certain administrative conditions related to the redevelopment project to be carried out by the buyer, is slightly better than the fair value as per the last independent expert's appraisal at 30 June 2020 of € 11.9 million.

The proceeds from the sale, which took place today for € 10.5 million and the remaining €1.5 million settled within one year of closing, will allow an improvement in cash and NFP of the same amount.

Giuseppe Roveda, CEO of Aedes SIIQ commented: "The sale of the Richard Tower is carried out in accordance with the 2020-2026 Business Plan approved on September 2, which provides for the disposal of certain assets, in need of restructuring investments or without profitability, to support the other investments and needs of the Plan. In addition, the sale at appraisal value once again confirms the positive feedback from the market compared to the Group's portfolio valuations, highlighting the high discount of the stock market listing compared to the NNNAV".

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Aedes SIIQ S.p.A.

Aedes SIIQ (MTA:AED) was created and at the same time is listed on the MTA Market of the Italian Stock Exchange, following the partial proportional demerger of Restart (a company founded in 1905 and listed on the Italian Stock Exchange since 1924) on 28 December 2018. Aedes SIIQ owns a real estate rent portfolio and development for rent portfolio in line with the strategy of a REIT with commercial purpose (Retail and Office).

For further information: www.aedes-siiq.com

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