ATRIUM EUROPEAN REAL ESTATE LIMITED ANNOUNCES FINAL RESULTS OF ITS TENDER OFFERS

10 Sep 2018 13:30 CEST

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR TO ANY U.S. PERSON OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

ATRIUM EUROPEAN REAL ESTATE LIMITED

ANNOUNCES FINAL RESULTS OF ITS TENDER OFFERS

Ad hoc announcement - Jersey, 10 September 2018. Atrium European Real Estate Limited (the "Offeror") hereby announces the final results and pricing of its invitation to holders of its €350,000,000 4.000 per cent. Notes due April 2020 (the "2020 Notes"), and its €500,000,000 3.625 per cent. Notes due October 2022 (the "2022 Notes", and together with the 2020 Notes, the "Notes" and each a "Series") to tender such Notes for purchase by the Offeror for cash (each such invitation, an "Offer" and together, the "Offers").

The Offers were announced on 31 August 2018 and were made subject to satisfaction or waiver of the New Financing Condition and subject to the other terms and conditions contained in the tender offer memorandum dated 31 August 2018 (the "Tender Offer Memorandum") prepared by the Offeror. Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

The Expiration Deadline for the Offers was 5.00 p.m. (CET) on 7 September 2018.

As at the Expiration Deadline, €201,883,000 in aggregate principal amount of the 2020 Notes and €240,240,000 in aggregate principal amount of the 2022 Notes had been validly tendered pursuant to the Offers.

The Offeror confirms that the New Financing Condition has been satisfied.

Following the Expiration Deadline, the Offeror hereby announces that it has decided to (i) set the Final Acceptance Amount (being the aggregate principal amount of Notes to be accepted in the Offers across both Series combined) at €241,883,000, and (ii) accept for purchase €201,883,000 of the 2020 Notes €40,000,000 of the 2022 Notes validly tendered pursuant to the Offers, subject to the applicable Pro-ration factors, as set out below.

The Purchase Price in respect of the 2022 Notes accepted for purchase was determined at or around 12.00 p.m. (CET) today. The Purchase Price in respect of the 2020 Notes was determined on the basis of a fixed yield as described in the Tender Offer Memorandum, all as set out below.

The applicable Purchase Price together with Accrued Interest will be paid to Noteholders whose Notes have been accepted for purchase by the Offeror. Settlement is expected to occur on 11 September 2018.

For further information:

FTI Consulting Inc.:                                                                                                    +44 (0)20 3727 1000

Richard Sunderland

atrium@fticonsulting.com

DISCLAIMER

The offer period for the Offers has now expired.No further tenders of any Notes may be made pursuant to the Offers. This announcement must be read in conjunction with the Tender Offer Memorandum. This announcement and the Tender Offer Memorandum contain important information which should be read carefully.If any Noteholder is in any doubt as to the contents of this announcement and/or the Tender Offer Memorandum or the action it should take, it is recommended to seek its own financial advice, including in respect of any tax consequences, from its broker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser.The Dealer Managers and the Tender Agent do not accept any responsibility for the accuracy or completeness of the information contained in this announcement or the Tender Offer Memorandum including (without limitation) information concerning the Offeror or its subsidiaries and affiliates or for any failure by the Offeror to disclose events that may have occurred and may affect the significance or accuracy of such information.

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