IMMOFINANZ starts preparations for a squeeze-out of S IMMO AG

Today, the Supervisory Board of IMMOFINANZ AG (“IMMOFINANZ”) approved the commencement of preparations for a squeeze-out of S IMMO AG (“S IMMO”) in accordance with the Austrian Squeeze out Act (Gesellschafter-Ausschlussgesetz). In the course of the squeeze-out, shares in S IMMO (AT0000652250) held by minority shareholders shall be transferred to IMMOFINANZ as main shareholder in exchange for appropriate cash compensation.

Together with its parent company CPI Property Group S.A. ("CPIPG"), IMMOFINANZ holds a stake of approximately 88.37% in the share capital of S IMMO (taking into account the treasury shares of S IMMO of approximately 92.54%), meaning that IMMOFINANZ is classified as a main shareholder under the Austrian Squeeze-out Act. The squeeze-out currently relates to 5,246,664 S IMMO shares, which corresponds to approximately 7.13% of the share capital.

Following the completion of preparatory steps, and subject to further legal, tax and financial review, IMMOFINANZ as main shareholder would submit a request to S IMMO to initiate the procedure under the Austrian Squeeze-out Act. The cash compensation for the acquisition of the S IMMO shares will be determined based on a valuation report to be obtained. The squeeze-out will then be submitted for approval at a shareholders' meeting of S IMMO.

IMPORTANT INFORMATION

This announcement is a mandatory announcement pursuant to Article 17 of the Market Abuse Regulation (EU) No 596/2014 and has been made by IMMOFINANZ AG (IMMOFINANZ) solely for the purpose of disclosing inside information and in connection with a potential squeeze-out at S IMMO AG (“S IMMO”). This announcement is for information purposes only and does not constitute a solicitation or recommendation or an invitation to buy or sell securities of IMMOFINANZ or S IMMO. Conditions and other provisions relating to a squeeze-out will be contained in the documents to be published by IMMOFINANZ and S IMMO by law. The content of these documents is authoritative and IMMOFINANZ expressly recommends that these documents be reviewed.

To the extent this announcement contains forward-looking statements concerning IMMOFINANZ and/or S IMMO, such statements do not represent facts and are characterized by the words such as "will", "expect", "believe", "estimate", "intend", "aim", "assume" or similar expressions. Such statements express intentions, opinions or current expectations and assumptions of IMMOFINANZ. These forward-looking statements are based on current plans, estimates and forecasts, but do not claim to be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and usually cannot be influenced by IMMOFINANZ. It should be kept in mind that the actual events or consequences may differ materially from those contained in or expressed by such forward-looking statements.