DALIAN LOAN EXTENDED FOR ADDITIONAL YEAR

Amsterdam, September 29, 2020, Kardan N.V. ('Kardan' or 'the Company'), active in Real Estate and Water Infrastructure, announces that its subsidiary Kardan Land China Ltd. ('KLC') has signed an extension of the Europark Dalian project loan of 12 months.

The loan, amounting to RMB 651 million was initially granted in November 2017 and matures on 5 November 2020. It has now been agreed to extend the loan for a period of 12 months, subject to certain conditions: (1) until November 2020 KLC will repay RMB 45 million, hereafter the outstanding balance of the loan will amount to RMB 606 million at the date of extension; (2) KLC will have to repay another RMB 130 million before September 2021, meaning that the outstanding balance for repayment in November 2021 will be RMB 474 million.

The terms of the extension are similar to the terms of the initial loan agreement, including the interest rate of 11.84% per annum, an annual fee of 0.08% to one of the lenders, and the right to make early repayments without penalties.

Securities and pledges and financial covenants remain unchanged. For additional details about the loan, please refer to the English translation of the 2019 Israeli Annual Report on Kardan's website (https://www.kardan.nl/images/annual-report/annual-reports-barnea/BARNEA-2019-FINAL.pdf)

Kardan expects that KLC will transfer approximately €7.5 million, which will be used for repayment to the Company's debenture holders.

About Kardan

Kardan identifies and develops assets in promising emerging markets, mainly in Asia (predominantly China), Africa and selected CEE and CIS countries. Its activities are mainly focused on two sectors that benefit from the rising middle class: Real Estate and Water Infrastructure. Company headquarters are in the Netherlands. Kardan aims at holding controlling interests in its investments and is actively involved in the definition and implementation of their strategy through its local business platforms. Kardan is listed on the Tel Aviv Stock Exchange.

For further information please contact:

Floor van Maaren / Eva Lindner

+31 (0)6 2959 7746 / +31 (0) 6 3422 2831

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Kardan NV published this content on 29 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 September 2020 10:19:06 UTC