CPI Property S A : GROUP – Inaugural Sustainability-Linked Swap

CPI Property Group (société anonyme) 40, rue de la Vallée L-2661Luxembourg

R.C.S. Luxembourg: B 102 254

Press Release - Corporate News

Luxembourg, 23 January 2023

CPI PROPERTY GROUP - Inaugural Sustainability-Linked Swap

CPI PROPERTY GROUP ("CPIPG", the "Company" or together with its subsidiaries the "Group"), a leading owner of income-generating European real estate, is pleased to announce the recent completion of an innovative sustainability- linked swap transaction.

"CPIPG began issuing green bonds since 2019, and completed our first sustainability-linked bond in 2022," said David Greenbaum, CFO of CPIPG. "Expanding our sustainability commitment to include swaps was a natural step."

The sustainability linked-swap relates to the Group's issuance of GBP-denominated green bonds, which were fully hedged to EUR on the issue date in January 2020 via a cross-currency swap ("CCS"). In 2023, CPIPG elected to adjust the terms of the CCS with Sumitomo Mitsui Banking Corporation ("SMBC") to include sustainability elements.

In keeping with CPIPG's commitment to reduce the greenhouse gas ("GHG") emissions intensity of our property portfolio by 32.4% through 2030 versus the 2019 baseline, the CCS was updated to include a step-up margin in the final two years if CPIPG does not achieve a reduction in GHG emissions intensity of about 16% by year-end 2025.

GHG emissions intensity is expressed as tonnes of CO2 equivalent per square metres of property portfolio. Sustainalytics, as independent second-party opinion provider, assessed CPIPG`s targets as "ambitious" with "very strong" key performance indicators aligned with the Paris agreement.

For further information, please contact:
Investor Relations
David Greenbaum	Moritz Mayer
Chief Financial Officer	Manager, Capital Markets
[e-mail]	[e-mail]

For more on CPI Property Group, visit our website: www.cpipg.com

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