Annual combined general meeting held on April 20, 2017: approval of all resolutions

PRESS RELEASE

The Combined General Meeting held on April 20, 2017 and chaired by Mr André Martinez, approved all resolutions proposed by the Board of Directors.

The voting results will be available soon on Icade's website: www.icade.fr

The General Meeting resolved to distribute a dividend of 4.00 euros per share for the financial year 2016. It will be payable in cash on April 27, 2017 with an ex-dividend date as of April 25, 2017.

This represents a dividend increase of 7.24% compared to the dividend paid for the financial year 2015.

The General Meeting appointed Ms Marianne Laurent in place of Ms Céline Scemama as director for a term of four years, which shall expire at the end of the General Meeting to be held to approve the financial statements for the year 2020.

Ms Marianne Laurent, 55 years old, a graduate of the University of Rennes in banking and finance, began her career in 1984 in the banking sector before joining Caisse des Dépôts in 1990 where she held various executive positions (CFO of Efidis in 2007, then Managing Director in charge of the SNI group's finances). Since January 16, 2017, she has taken up her duties as Director of Loans and Housing for the Savings Funds Department.

The General Meeting has also ratified the temporary appointment of Ms Céline Senmartin in place of Ms Nathalie Gilly as director for the remainder term, which shall expire at the end of the General Meeting to be held to approve the financial statements for the year 2018.

Ms Céline Senmartin, 39 years old, graduated from the Institute of Political Studies in Bordeaux, and joined Caisse des Dépôts in 2001 where she held various senior positions (human resources management, Strategy Department of the Pensions Division, Office of the Group Managing Director, Regional Director of Picardie Region). On March 1, 2016, she became Deputy Head of the Network and Territorial Management Department.

Furthermore, the General Meeting reappointed, for a term of four years, which shall expire at the end of the General Meeting to be held to approve the financial statements for the year 2020, the following persons as directors:

1. Mr Olivier Mareuse;

2. Mr Jean-Paul Faugère.

Thus, the Board of Directors consists of 15 members, including 7 representing Caisse des Dépôts (CDC), 3 representing Groupama, and 5 independent directors.

The Board of Directors includes 47% of women and 1/3 of independent directors, in compliance with the recommendations of the AFEP-MEDEF Code of Corporate Governance and with legal requirements; at the end of the General Meeting the composition of the Board of Directors is as follows:

• Mr André Martinez, Chairman, independent director

• Caisse des Dépôts, represented by Ms Virginie Fernandes

• Ms Cécile Daubignard (Groupama)

• Mr Eric Donnet (Groupama)

• Mr Jean-Paul Faugère (Caisse des Dépôts)

• Ms Marie-Christine Lambert, independent director

• Ms Marianne Laurent (Caisse des Dépôts)

• Mr Benoît Maes (Groupama)

• Mr Olivier Mareuse (Caisse des Dépôts)

• Ms Florence Peronnau, independent director

• Mr Georges Ralli, independent director

• Ms Céline Senmartin (Caisse des Dépôts)

• Mr Franck Silvent (Caisse des Dépôts)

• Ms Nathalie Tessier (Caisse des Dépôts)

• Mr Frédéric Thomas, independent director

  Investments and Strategy Committee

  Following the Board of Directors of April 20, 2017, the new members of the Investments and Strategy Committee are:

• Mr André Martinez, Chairman,

• Mr Eric Donnet

• Mr Jean-Paul Faugère

• Ms Virginie Fernandes in place of Ms Céline Scemama

• Ms Florence Péronnau

The composition of the other committees of the Board (Appointments and Remuneration Committee and Audit, Risk and Sustainable Development Committee) remains unchanged.

Q1 Revenue: 28 April 2017, before the market opens Half Year Results: 24 July 2017, before the market opens Q3 Revenue: 20 October 2017, after the market opens

Investor Day: 27 November 2017, before the market opens

ABOUT ICADE

As an investor and a developer, Icade is an integrated real estate player and designs innovative real estate products and services adapted to new urban lifestyles and habits. By placing corporate social responsibility and innovation at the core of its strategy, Icade is working closely with stakeholders and users in the cities

- local authorities and communities, companies and employees, institutions and associations… As a commercial and healthcare property investor (portfolio value of €9.7bn as of 12/31/16) and a property developer (2016 revenues of €1,005m), Icade is able to reinvent the real estate business and foster the emergence of tomorrow's greener, smarter and more responsible cities. Icade is a significant player in the Greater Paris area and major French cities. Icade is listed on Euronext Paris as a French Listed Real Estate Investment Company (SIIC). Its leading shareholder is the Caisse des Dépôts Group.

The text of this press release is available on the Icade website: www.icade.fr

Head of financial communication and investor relations

+33(0)1 41 57 71 61

guillaume.tessler@icade.fr

CONTACTS

Press relations manager

+33(0)1 41 57 71 19

charlotte.pajaud-blanchard@icade.fr