PRESS RELEASE

Intervest announces the results of the Subsequent Acceptance Period following the voluntary reopening of TPG's takeover Offer of Intervest

4 April 2024, 7:30 a.m.

Intervest announces the results of the Subsequent Acceptance Period following the voluntary reopening of TPG's takeover Offer of Intervest; announces the reopening of TPG's Offer as a simplified Squeeze-out and reduction of the Bid price with the dividend to be approved by Intervest's annual general meeting

  • TPG acquires 95.95% of Intervest shares
  • TPG proceeds with a Re-opening of Its Offer as a Simplified Squeeze-out on 4 April 2024
  • The Bid price will be reduced with the gross dividend per share that will be approved at Intervest's annual general meeting on 24 April 2024

Intervest Offices & Warehouses NV (Euronext Brussels: INTO) ("Intervest" or the "Company") announces today the results of the subsequent acceptance period following the voluntary reopening of the voluntary and now unconditional public takeover offer, announced on 28 February 2024, by European Real Estate Holdings NV (the "Offeror"), an entity fully controlled by TPG, to acquire all outstanding shares in the Company that the Offeror does not already own (the "Offer"). The Offer provides Intervest shareholders 100% cash consideration of €21.00 per Intervest share.

During the Subsequent Acceptance period, which ended on 28 March 2024, 1,905,579 additional shares were tendered. In addition to the shares already owned by TPG after the initial acceptance period, TPG now indirectly through the Bidder owns 95.95% of the shares of Intervest. TPG has therefore met the conditions for a simplified squeeze-out offer under Belgian takeover legislation.

Payment of the offer price for the shares tendered during the subsequent acceptance period will take place on 18 April 2024.

Following the results of the subsequent acceptance period, TPG re-opened the Offer as a simplified squeeze- out offer with an acceptance period from 4 April 2024 until 25 April 2024. The results of the simplified squeeze-out offer will be announced on or before 2 May 2024. Shareholders who have not yet accepted the Offer will be able to accept the Offer during the simplified squeeze-out period.

TPG also announced a reduction in the bid price by the total gross dividend amount per share (before any applicable tax deduction) for the financial year 2023 which will be approved at Intervest's annual general shareholders' meeting taking place on 24 April 2024. Payment of the offer price for the shares tendered during the acceptance period of the simplified squeeze-out offer will be made on 16 May 2024.

Shares not tendered by the end of the simplified squeeze-out period will be deemed to have automatically transferred to the Offeror at the end of the simplified squeeze-out period, with consignation of the funds necessary for the payment of the price for such non-tendered shares for the benefit of the relevant shareholders to the Deposit and Consignation Office (Deposito- en Consignatiekas/Caisse des Dépôts et Consignations).

On 25 April 2024, at the end of the simplified squeeze-out period, all Intervest shares will be delisted from Euronext Brussels.

1

PRESS RELEASE

Intervest announces the results of the Subsequent Acceptance Period following the voluntary reopening of TPG's takeover Offer of Intervest

4 April 2024, 7:30 a.m.

All materials for the Offer, including the prospectus, the response memorandum, and the acceptance forms,1 available in English, Dutch and French, are available on the following websites:

  • TPG's microsite,https://bid-co-offer.be/,under "Key Documents"
  • Intervest's website, www.intervest.eu/en/takeover-offer
  • BNP Paribas Fortis' website,www.bnpparibasfortis.be/epargneretplacer (in French and in English), www.bnpparibasfortis.be/sparenenbeleggen (in Dutch and in English) and KBC's website www.kbc.be/intervest (in Dutch, French and English)

1 Acceptance forms for the simplified squeeze-out period have been updated to reflect the reduction of the offer price with the total gross dividend amount that will be approved by Intervest's AGM on 24 April 2024.

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PRESS RELEASE

Intervest announces the results of the Subsequent Acceptance Period following the voluntary reopening of TPG's takeover Offer of Intervest

4 April 2024, 7:30 a.m.

Disclaimer

Intervest Offices & Warehouses, having its registered office at Uitbreidingstraat 66, 2600 Antwerp (Belgium), is a public Regulated Real estate company, incorporated under Belgian law and listed on Euronext Brussels. This press release contains forward-looking information, forecasts, beliefs, opinions and estimates prepared by Intervest Offices & Warehouses, relating to the currently expected future performance of Intervest Offices & Warehouses and the market in which Intervest Offices & Warehouses operates. By their very nature, forward-looking statements involve inherent risks, uncertainties and assumptions, both general and specific, and risks exist that the forwardlooking statements will not be achieved. Investors should be aware that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in, or implied by, such forward looking statements. Such forwardlooking statements are based on various hypotheses and assessments of known and unknown risks, uncertainties and other factors which seemed sound at the time they were made, but which may or may not prove to be accurate. Some events are difficult to predict and can depend on factors on which Intervest Offices & Warehouses has no control. Statements contained in this press release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. This uncertainty is further increased due to financial, operational and regulatory risks and risks related to the economic outlook, which reduces the predictability of any declaration, forecast or estimate made by Intervest Offices & Warehouses. Consequently, the reality of the earnings, financial situation, performance or achievements of Intervest Offices & Warehouses may prove substantially different from the guidance regarding the future earnings, financial situation, performance or achievements set out in, or implied by, such forward-looking statements. Given these uncertainties, investors are advised not to place undue reliance on these forward-looking statements. Additionally, the forwardlooking statements only apply on the date of this press release. Intervest Offices & Warehouses expressly disclaims any obligation or undertaking, unless if required by applicable law, to release any update or revision in respect of any forward-looking statement, to reflect any changes in its expectations or any change in the events, conditions, assumptions or circumstances on which such forward looking statements are based. Neither Intervest Offices & Warehouses, nor its representatives, officers or advisers, guarantee that the assumptions underlying the forwardlooking statements are free from errors, and neither of them makes any representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved.

Intervest Offices & Warehouses NV (referred to hereafter as "Intervest") is a public regulated real estate company (RREC) under Belgian law, founded in 1996, of which the shares have been listed on Euronext Brussels (INTO) since 1999. Intervest invests in logistics real estate in Belgium and The Netherlands and in office buildings in Belgium. Investments are focused on up-to-date buildings and sustainable (re)development projects, located in strategic locations, with an eye on cluster formation and is aimed at first-rate tenants. The logistics segment of the portfolio in Belgium is located on the Antwerp - Brussels - Nivelles, Antwerp - Limburg - Liège, and Antwerp - Ghent - Bruges axes and, in the Netherlands, on the Moerdijk - 's Hertogenbosch - Nijmegen, Rotterdam - Gorinchem - Nijmegen and Bergen-op-Zoom - Eindhoven - Venlo axes. The office segment of the real estate portfolio focuses on the central cities with an important student population of Antwerp, Mechelen, Brussels and Leuven and their surroundings. Intervest distinguishes itself in renting space by going beyond merely renting m². The company goes beyond real estate..

For more information:

Intervest Offices & Warehouses NV,

Joël Gorsele, ceo

Vincent Macharis, cfo

T. + 32 3 287 67 87

InvestorRelations@intervest.eu

https://www.intervest.eu/nl

BTW: BE0458623918

RPR Antwerpen

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Intervest Offices & Warehouses NV published this content on 02 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 April 2024 05:35:04 UTC.