Vastned Retail Belgium: Interim statement from the Board of Directors regarding the first quarter of 2020

Strong operational results in the first quarter of 2020 until the outbreak of the COVID-19 crisis.

Strong liquidity position as at 31 March 2020, €29.3 million of unused credit facilities available.

Limited debt ratio of 27.2% as at 31 March 2020.

Decrease in EPRA earnings in the first quarter of 2020 to €0.40 per share (€0.67 for the first quarter of 2019), this decrease is almost exclusively the result of the recognition of a provision for potential future rental losses due to the COVID-19 crisis.

Occupancy rate as at 31 March 2020: 95.7% (98.8% as at 31 December 2019).

The primary focus of the management in 2020 is once again to maintain a high occupancy rate.

Decrease in the fair value of the existing real estate portfolio of €4.0 million in the first quarter of 2020.

Full press release:

Attachment

• VRB Interim statement 31.03.2020