Aroundtown Property Holdings Plc. announces first half 2017 results: strong operational results while maintaining robust financial profile

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAWS OR REGULATIONS

AROUNDTOWN ANNOUNCES FIRST HALF 2017 RESULTS: STRONG OPERATIONAL RESULTS WHILE MAINTAINING ROBUST FINANCIAL PROFILE

- Rental and operating income in the first half year of 2017 at EUR237 million, up from EUR110 million

- Adjusted EBITDA increased by +71% to EUR195 million compared to EUR114 million in half year 2016

- FFO I growth of 83% to EUR130 million from EUR71 million in the comparable period of previous year

- FFO I per share up by 64% to EUR0.18, from EUR0.11 in H1 2016

- Net profit up by 52% to EUR777 million from EUR510 million in H1 2016

- EPS (basic) at EUR0.88 up by 47% from H1 2016; diluted EPS at EUR0.74 up by 61% from H1 2016

- EPRA NAV including perpetual notes of EUR6.2 billion, equivalent to EUR7.0 per share compared to EUR5.4 per share at the end of last year

- EPRA NAV amounted to EUR5.1 billion as of June 30, 2017, increased to EUR5.9 per share compared to EUR4.9 per share end of last year

- Total assets increased by +34% to EUR10.8 billion from EUR8.1bn year end 2016

- Strong and conservative leverage with an LTV of 36%

- Strong financial coverage with an Interest Coverage Ratio of 5.7x

- Equity ratio up by 7 percentage points from 49% in year end 2016 to 56% in June 2017

- On a like-for-like basis, net rent increased by 6.2% with 2.7% from occupancy and 3.5% from in-place rent increases

30 August 2017.

Solid operational key figures reflecting strong development

Aroundtown (the "Company" or "AT") continues successfully on its growth path. The listing of the Company's share on the Prime Standard of the Frankfurt Stock Exchange achieved in the beginning of June 2017 and the redomiciliation to Luxembourg, which will be finalized in mid-September 2017, will provide the Company with greater visibility and tradability affirming the successful development of the Company. These milestones constitute an opportunity for inclusion in major stock indices, such as the DAX family and major EPRA indices. Part of Aroundtown's corporate achievements has also been the recent improvement in its ESG score from Sustainalytics positioning the Company at the 88^th percentile, ranking 35 among 280 real estate peers world-wide, and ranking outperformer in all sub-factors (environmental, social and governance).

Accelerated growth consistently supported by capital markets

To support its solid growth, the Company once again successfully accessed capital markets on the way to reach its 2016 level where Aroundtown was the largest European real estate issuer. Year to date, AT issued in total a volume of EUR2.3 billion, confirming its strong investor demand while maintaining its conservative capital approach. This is reflected in the low LTV of 36%, which is comfortably below the policy limit of 45%, and the high diversification of financing sources from equity, perpetuals and straight bonds. The H1 2017 financial report is available on the Company's website: http://www.aroundtownholdings.com/downloads.html

About the Company Aroundtown Property Holdings Plc (trading symbol: AT1 on the Prime Standard of the Frankfurt Stock Exchange) is a specialist real estate company with a focus on value-add and income generating properties primarily in the German/NL real estate markets. Aroundtown Property Holdings Plc (ISIN: CY0105562116) is a public limited liability company incorporated in 2004 under the laws of Cyprus, having its registered office at Artemidos & Nikou Dimitriou, 54 B, 6027, Larnaca, Cyprus (registered number HE148223). Contact: Timothy Wright T: +357-2420-1312 E: info@aroundtownholdings.com www.aroundtownholdings.com

Disclaimer:

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES. THE SECURITIES MENTIONED IN THIS ANNOUNCEMENT HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT. THERE WILL BE NO PUBLIC OFFERING OF THE SECURITIES IN THE UNITED STATES. THIS ANNOUNCEMENT IS DIRECTED AT AND IS ONLY BEING DISTRIBUTED IN THE UNITED KINGDOM TO (I) PERSONS WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE "ORDER"), (II) HIGH NET WORTH ENTITIES, AND OTHER PERSONS TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED FALLING WITHIN ARTICLE 49 OF THE ORDER, AND (III) PERSONS TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). THIS COMMUNICATION MUST NOT BE READ, ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS. IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA ("EEA"), THIS ANNOUNCEMENT AND ANY OFFER IF MADE SUBSEQUENTLY IS DIRECTED ONLY AT PERSONS WHO ARE "QUALIFIED INVESTORS" WITHIN THE MEANING OF ARTICLE 2(1)(E) OF DIRECTIVE 2003/71/EC, AS AMENDED (THE "PROSPECTUS DIRECTIVE") ("QUALIFIED INVESTORS"). ANY PERSON IN THE EEA WHO ACQUIRES THE SECURITIES IN ANY OFFER (AN "INVESTOR") OR TO WHOM ANY OFFER OF THE SECURITIES IS MADE WILL BE DEEMED TO HAVE REPRESENTED AND AGREED THAT IT IS A QUALIFIED INVESTOR. ANY INVESTOR WILL ALSO BE DEEMED TO HAVE REPRESENTED AND AGREED THAT ANY SECURITIES ACQUIRED BY IT IN THE OFFER HAVE NOT BEEN ACQUIRED ON BEHALF OF PERSONS IN THE EEA OTHER THAN QUALIFIED INVESTORS, NOR HAVE THE SECURITIES BEEN ACQUIRED WITH A VIEW TO THEIR OFFER OR RESALE IN THE EEA TO PERSONS WHERE THIS WOULD RESULT IN A REQUIREMENT FOR PUBLICATION BY THE COMPANY OR ANY OF THE JOINT BOOKRUNNERS OF A PROSPECTUS PURSUANT TO ARTICLE 3 OF THE PROSPECTUS DIRECTIVE. THIS ANNOUNCEMENT MAY CONTAIN PROJECTIONS OR ESTIMATES RELATING TO PLANS AND OBJECTIVES RELATING TO OUR FUTURE OPERATIONS, PRODUCTS, OR SERVICES, FUTURE FINANCIAL RESULTS, OR ASSUMPTIONS UNDERLYING OR RELATING TO ANY SUCH STATEMENTS, EACH OF WHICH CONSTITUTES A FORWARD-LOOKING STATEMENT SUBJECT TO RISKS AND UNCERTAINTIES, MANY OF WHICH ARE BEYOND THE CONTROL OF AROUNDTOWN PROPERTY HOLDINGS PLC. ACTUAL RESULTS COULD DIFFER MATERIALLY, DEPENDING ON A NUMBER OF FACTORS.