Hispania Activos Inmobiliarios SOCIMI : 2017 ANNUAL GENERAL MEETING CALL

HISPANIA ACTIVOS INMOBILIARIOS SOCIMI, S.A. ("Hispania" or "the "Company"), pursuant to article 17 of Regulation (EU) 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse, and in article 228 of the restated text of the Spanish Securities Market Act, passed through Royal Legislative Decree 4/2015, of 23 October 2015, hereby discloses the following SIGNIFICANT INFORMATION

On the date hereof, the Board of Directors of the Company has agreed to call an Ordinary General Shareholders' Meeting, that will be held in Madrid, at the Hotel Villamagna, Paseo de la Castellana 22, on 6 April 2017, at 10:00 am, on first call, and on 7 April 2017, at the same place and time, on second call, if the required first call quorum is not met.

The notice of call, which will remain uninterruptedly accessible on the corporate website of the Company (www.hispania.es) at least until the holding of the General Shareholders' Meeting, is attached hereto.

Likewise attached hereto are the proposed resolutions, the directors' and the Appointments and Remunerations Committee's reports in relation to the different items of the Agenda for this General Shareholders' Meeting. Such proposed resolutions and reports, together with the rest of the documentation relating to the General Shareholders' Meeting, will be available to the shareholders of the Company at its registered office and on its corporate website (www.hispania.es) as described in the notice of call.

Madrid 2 March 2017.

Hispania Activos Inmobiliarios SOCIMI, S.A. LEGAL NOTICE

Hispania was incorporated for an indefinite duration as per its by-laws. However, and according to the prospectus filed in connection with the admission to listing of Hispania's shares on the Spanish Stock Exchanges, the company reminds its shareholders that its initially proposed value return proposal provides for the liquidation of the entire asset portfolio within six (6) years of the admission to listing without the need to submit such proposal to the shareholders for approval (alternatively, a favorable shareholder vote must be sought if the Board of Directors proposes to keep and actively manage all or part of the company's portfolio on a permanent basis).

HISPANIA ACTIVOS INMOBILIARIOS, SOCIMI, S.A. NOTICE OF THE ORDINARY GENERAL SHAREHOLDERS' MEETING

The Board of Directors of Hispania Activos Inmobiliarios, Sociedad Anónima (the Company) hereby calls the shareholders to the Ordinary General Shareholders' Meeting, to be held in Madrid, in Hotel Villamagna, Paseo de la Castellana, 22, on 6 April 2017, at 10:00 am at the first call, and on 7 April 2017 in the same time and place at the second call, if it cannot be held at first call as the necessary legal quorum is not present, in accordance with the following

AGENDA

ONE.	Examination and, where appropriate, approval of (i) the individual annual financial statements of the Company for 2016 (comprising the balance sheet, income statement, statement of changes in equity, cash flow statement and the notes to the financial statements) and the management report; (ii) and the consolidated annual financial statements of the Company for 2016 (comprising the consolidated statement of financial position, consolidated income statement, consolidated statement of changes in net equity, consolidated cash flow statement and the notes to the consolidated financial statements) and the management report.
TWO.	Examination and, where appropriate, approval of the proposed allocation of profit or loss for the year ended 31 December 2016.
THREE.	Review and, where appropriate, approval of the management of the Board of Directors in 2016.
FOUR.	Reelection of Ernst & Young, S.L. as the auditors of the accounts for the Company and the consolidated group for the years 2017, 2018 and 2019.
FIVE.	Appointment of Mr. Benjamin Barnett as proprietary board member of the Company and conclusion of the total number of members of the Board of Directors of the Company as seven (7)
SIX.	Extension up to 31 December 2017 of the investment period limit date (Investment Period) as per the investment manager agreement (Investment Manager Agreement or IMA) signed as of 21 February 2014 with Azora Gestión, S.G.I.I.C., S.A.U. y Azora Capital, S.L. in its amended and valid version.
SEVEN.	Authorisation to the Board of Directors for the derivative acquisition of own shares in accordance with the limits and requirements set out in the Spanish Companies Law. Delegation of powers to the Board of Directors for the execution of this resolution. Revocation of previous authorisations.

EIGHT.	Approval of the Remuneration of the Board Member's policy.
NINE.	Approval of the reduction of the period of notice of Extraordinary General Meetings under Article 515 of the Spanish Companies Act.
TEN.	Delegation of powers to formalise and execute all the resolutions adopted by the Ordinary General Shareholders' Meeting, to convert them into a public document, and to interpret, amend, supplement, develop and register them.
ELEVEN.	Consultative voting on the "Annual Report on Remuneration in the Company" for 2016.

During the meeting, there will be a report on developments in the area of corporate management.

SUPPLEMENT TO THE CALL AND PRESENTATION OF PROPOSED RESOLUTIONS

In accordance with the provisions of Article 519 of the Spanish Companies Act, shareholders who represent at least three per cent (3%) of the share capital may request the publication of a supplement to this notice, including one or more points on the Agenda, provided that the new points are accompanied by a justification or justified proposed resolution, where appropriate, and present grounds for agreement on issues already included or that should be included on the Agenda of the notice. These rights must be exercised through notification with proof of receipt submitted to the Company's registered office (Calle Serrano 30, 2º izquierda, 28001 Madrid) within the five days following publication of this notice.

The notification shall include the name or company name of the shareholder or shareholders making the request and the number of shares they hold. It shall be accompanied by the content of the justification, or any proposal or proposals that the shareholder makes, including where appropriate any documentation that is necessary or pertinent.

RIGHT TO ATTENDANCE

The following may attend the Ordinary General Shareholders' Meeting: shareholders who hold at least 1,000 shares in the Company individually or as a group with other shareholders, provided the shares are entered in the corresponding register of book entries at least five days before the date of the Ordinary General Shareholders' Meeting, and who have the corresponding Attendance Card issued by Sociedad de Gestión de los Sistemas de Registro, Compensación y Liquidación de Valores, S.A.U. (Iberclear) or entities participating in these systems. The lack of a card may only be made good by the corresponding certificate of legitimacy that accredits compliance with the attendance requirements.

For the purpose of identifying shareholders, o who legally represent them, at the entrance of the place where the Shareholder's Meeting will take place, the Company will be able to ask for identification, together with the voting card or the legal certificate of representation where applicable, the National Identity Card or other official document commonly accepted for identification purposes. As for legal person shareholders, these will need to provide copy of the relevant deeds providing sufficient representation powers.

Pursuant to Article 11 of the Regulation of the General Shareholders' Meeting, it is noted that remote attendance to the Ordinary General Shareholders' Meeting by electronic or online means will not be available.

RIGHT TO PROXY REPRESENTATION

In accordance with the provisions of article 25 of the Bylaws, without prejudice to attendance by corporate entities that are shareholdings through the persons they have legally authorised to represent them, any shareholder with the right to attend in accordance with the above provisions may be represented at the Ordinary General Meeting of Shareholders by another person, even if that person is not a shareholder. The above is without prejudice to the provisions of section 3 of article 25 referred to above in relation to the possibility that the shareholders who do not hold the minimum number of shares required to attend the General Meeting may delegate the voting rights of their shares to another shareholder who has the right to attend, and to group together with other shareholders until they total the minimum number of shares required.

Representation can always be revoked. As a general rule, the latest action carried out by the shareholders before the General Meeting will be deemed valid. In any event, personal attendance at the Ordinary General Shareholders' Meeting by the represented party shall be deemed to revoke the proxy representation.

The proxy must be conferred specifically for each General Meeting for all the shares that are owned by the party represented, in writing or by the means of remote communication established for this purpose and within the corresponding period.

If the proxy document does not indicate the specific person or persons to whom the shareholders delegates his proxy, it shall be understood to be granted in favour of the Chairman of the General Shareholders' Meeting, and in case of the Chairman's conflict of interest, in favour of the Secretary of the General Shareholders' Meeting. If the proxy