Wereldhave Belgium - Results 2022

Wereldhave Belgium

SOLID FULL-YEAR RESULTS SLIGHTLY ABOVE EXPECTATIONS

• Increase in net result from core activities per share by 6.8% to € 4.87 (€ 4.56 end 2021);

• Solid balance sheet with a debt ratio of 28.6% (28.2% end 2021);

• Net asset value per share of € 78.99 (+ 2.3% vs. 2021: € 77.19);

• Increase in EPRA occupancy rate of 1.3% to 95.2% for the entire portfolio (93.9% end 2021);

• Dividend proposal: € 4.20 gross (net € 2.94) per share (+2.4% vs. 2021);

• Belle-Île weight decreased to 18.9% of consolidated assets;

• Successful refinancing of € 80M in anticipation of maturities in 2023;

• Dynamic leasing activity: 89 contracts signed at 13% above market rent on average.

The Company's net result from core activities increased by 10.1% in 2022 compared to 2021. It's net result from core activities per share
shows a nice increase from € 4.56 in 2021 to € 4.87 in 2022 due to an increase in net rental income. The Company recorded a very nice
leasing activity in 2022 with 89 transactions.

The EPRA occupancy rate of the retail portfolio was 97.7% at 31 December 2022 compared to 97.2% at 31 December 2021.
Especially in the office portfolio, the Company was able to conclude nice transactions thereby increasing the occupancy rate
from 76% to 81.5% by the end of 2022. For the whole investment properties portfolio, the EPRA occupancy rate was 95.2%
at 31 December 2022, compared with 93.9% a year earlier.

The net asset value per share before dividend distribution was € 78.99 as at 31 December 2022 (2021: € 77.19).

The debt ratio was 28.6% at 31 December 2022, compared to 28.2% at 31 December 2021.

Attachment

• Press release results 2022