Coima Res Launches Its Initial Public Offering and Announces Commencement of the Global Offering

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES, NOR WILL THERE BE ANY SALE OF SECURITIES REFERRED TO IN THIS ANNOUNCEMENT, IN ANY JURISDICTION, INCLUDING THE UNITED STATES, IN WHICH SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. THE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION UNDER THE U.S. SECURITIES ACT OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT. COIMA RES S.P.A. (THE “COMPANY”) DOES NOT INTEND TO REGISTER ANY PORTION OF THE OFFERING OF SECURITIES IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING IN THE UNITED STATES. COPIES OF THIS ANNOUNCEMENT ARE NOT BEING, AND SHOULD NOT BE, DISTRIBUTED IN OR SENT INTO THE UNITED STATES.

PRESS RELEASE

COIMA RES LAUNCHES ITS INITIAL PUBLIC OFFERING AND ANNOUNCES COMMENCEMENT OF THE GLOBAL OFFERING

Milan, March 17, 2016 – COIMA RES S.p.A., (“COIMA RES” or the “Company”), a company focusing on investing in and managing of commercial real estate in Italy with one of its objectives being to obtain SIIQ status (Società di Investimento Immobiliare Quotate or “SIIQ”) to benefit from a favorable tax regime in Italy, today announces the commencement of the offer period in relation to its planned initial public offering with listing on the Mercato Telematico Azionario, organized and managed by Borsa Italiana S.p.A.

Offering Highlights

. Global Offering of minimum 30,000,000 new ordinary shares (the “Shares”) (with the possibility to increase new ordinary shares, the “Upsize Option”): (i) public offering of 3,000,000 Shares offered to the general public in Italy (the “Public Offering”) and (ii) institutional offering of 27,000,000 Shares (except in case of exercise of the Upsize Option) (the “Institutional Offering”). . Greenshoe option of additional up to 3,000,000 new ordinary shares (except in case of exercise of the Upsize Option) that is exercisable until 30 calendar days from listing of all of the Company’s shares on the stock exchange (the “Greenshoe Option”). . Fixed offer price in the Global Offering of Euro 10.00 per share (the “Offer Price”). . COIMA RES intends to use the proceeds from the Global Offering, in part, for the purchase of Vodafone Village properties, including the payment of taxes relating to the transaction and, in part, for the strengthening of the Company’s investment strategy and its related management costs. . Contribution in kind by Qatar Holding LLC of 96 real estate properties mainly used as bank branches leased to the Deutsche Bank group in exchange for 14.45m shares at the Offer Price (in addition to the Global Offering).

Not for release, publication or distribution, in whole or in part, directly or indirectly, in or into or from the United States, Canada, Australia, Japan or any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction COIMA RES S.p.A. – Via della Moscova 18 - 20121 Milano Tel. +39 02 65560972 | Fax. +39 02 73965049 Capitale sociale € 50.000 i.v. - C.F. e P.Iva 09126500967

. Public Offering will commence on March 18, 2016 and is expected to end on April 1, 2016, unless such period is extended or closed earlier. The Institutional Offering will commence on March 17, 2016, and is expected to end on April 1, 2016, unless such period is extended or closed earlier (the “Offering Period”).

The Global Offering

The Global Offering consists of an offer of an aggregate of minimum 30,000,000 Shares pursuant to a capital increase of a maximum of 60,000,000 Shares resolved upon by the Company’s Extraordinary Shareholders’ Meeting of September 14, 2015. The Company, subject to prior consultation with Citigroup and Mediobanca, reserves the possibility to increase the size of the Global Offering via the Upsize Option, to be offered solely as part of the Institutional Offering, subject to prior notice to the public and to CONSOB by publication of a notice in at least one Italian daily financial newspaper and on the website of the Company (www.coimares.com).

The Global Offering consists of:

(i) a Public Offering of 3,000,000 Shares, representing 10% of the Global Offering, offered to the general public in Italy. Institutional investors cannot participate in the Public Offering, but are permitted to participate in the Institutional Offering set forth under (ii) below; and (ii) an Institutional Offering of 27,000,000 Shares, representing 90% of the Global Offering, reserved to (i) institutional investors in Italy and abroad pursuant to Regulation S under the Securities Act, excluding institutional investors in Australia, Japan and Canada or in any other country where the offer of securities would be forbidden under applicable law, except for certain applicable exceptions; (ii) within the United States to Qualified Institutional Buyers only, in reliance upon Rule 144A of the Securities Act.

The Public Offering consists of the offering reserved to the general public in Italy. At maximum, 50% of the Shares allocated to the general public will be used to fulfil the submitted subscriptions from retail investors for quantities equal to the Increased Minimum Subscription Lot or multiples thereof (as defined below).

The Global Offering is conditional upon the subscription of the capital increase servicing the Global Offering for at least Euro 300 million and the resolution of Borsa Italiana approving commencement of trading.

Offer Price and Use of Proceeds

The Offer Price is Euro 10.00 per Share.

The Company intends to use the net proceeds from the Global Offering mainly to (i) purchase the Vodafone Village properties and pay taxes relating to the transaction, (ii) strengthen its asset and financial structure to support its growth and development targets and (iii) to strenghten the Company’s investment strategy and, in particular, to purchase high-quality real estate assets, capable of generating stable, increasing and sustainable cash flows for investors through the acquisition, management, operation and, eventually, sale on a selective basis of properties mainly intended for use in the service sector (office, commercial, logistical, etc.) and with a potential value appreciation over time; and (iv) sustain the Company’s management costs.

Minimum Lot in Public Offering

Applications from retail investors to subscribe for the Public Offering must be submitted only to the Italian Placement Intermediaries for a minimum quantity of 300 Shares (the “Minimum Lot”) or multiples thereof, or for a minimum quantity of 3,000 Shares (the “Increased Minimum Subscription Lot”) or multiples thereof, without prejudice to the distribution criteria. The counter value of the Minimum Lot is equal to Euro 3,000, while the counter value of the Increased Minimum Subscription Lot is equal to Euro 30,000.

The Share Capital Increase reserved for Qatar Holding LLC

On September 14, 2015, the shareholders’ meeting of the Company resolved upon a capital increase for an amount of Euro 144,500,000, through the issuance of 14,450,000 ordinary shares at the Offer Price, to be subscribed by means of a contribution in kind by Qatar Holding LLC (“Qatar Holding”) – an entity entirely controlled by Qatar Investment Authority – of all of the units in the closed-end real estate investment fund reserved to professional investors named Italian Banking Fund, managed by COIMA SGR S.p.A. The resolution relating to the capital increase and the consummation of the contribution in kind are conditional upon – and will become effective as of the date of – the execution of the institutional underwriting agreement at the end of the Offering Period.

Over-Allotment and Greenshoe Option

As part of the arrangements of the Global Offering, Qatar Holding will grant to Citigroup, Mediobanca and Kempen & Co an option to borrow up to 3,000,000 Shares representing 10% of the Shares offered in the Global Offering, for the purpose of covering over- allotments in the Institutional Offering (the “Over-Allotment Option”). Citigroup, Mediobanca and Kempen & Co can exercise such option in the event of over-allotment, either partly or in full, and allocate the borrowed Shares to institutional investors.

The Company will also grant to Citigroup, Mediobanca and Kempen & Co, also in name and on behalf of the members of the institutional banking syndicate, a Greenshoe Option to purchase at the Offer Price up to 3,000,000 Shares representing 10% of the Shares offered in the Global Offering, to be allocated to institutional investors in case of over- allotment (the “Greenshoe Option”).

Both options can be exercised, either partly or in full, within 30 days from the listing of the Company’s ordinary shares on the MTA.

Offering Period

The Public Offering will commence on March 18, 2016, at 9:00 a.m. CET, and is expected to end on April 1, 2016, at 2:00 p.m. CET, unless such period is extended or closed earlier. The Institutional Offering will commence on March 17, 2016, and is expected to end on April 1, 2016, unless such period is extended or closed earlier. Applications from the general public in Italy that will be submitted to the Italian Placement Intermediaries before 9:00 a.m. CET on March 18, 2016 and after 2:00 p.m. CET on April 1, 2016, unless such period is extended or closed earlier, will not be accepted or valid.

The Company, in agreement with Citigroup, Mediobanca and Kempen & Co, reserves the right to extend the Offering Period, upon prior notice to the public and to CONSOB by publication on the last day of the Offering Period of a notice in at least one Italian daily financial newspaper.

Payment and delivery of the Shares

The payment of the Company’s ordinary shares will have to be made by April 5, 2016 (the “Closing Date”) to the Italian Placement Intermediary that has received the application, with no additional fees or expenses charged to the investor.

In case of postponement, extension or early closing of the Public Offering, the possible changes to the Closing Date will be communicated with the notice announcing such postponement, extension or early close of the Offering Period. The Shares sold in the Public Offering will be made available to the purchasers upon payment of the relevant price, in dematerialized form, through booking at the deposit accounts held by the Italian Placement Intermediaries with Monte Titoli.

* * * * *

The Italian prospectus which has been filed with CONSOB on March 17, 2016, the publication of which was authorized by CONSOB on December 29, 2015 (the “Italian Prospectus”), together with the first supplement to the Italian Prospectus which has been filed with CONSOB on March 17, 2016, the publication of which was authorized by CONSOB on February 11, 2016 (the “First Supplement”), and the second supplement to the Italian prospectus which has been filed with CONSOB on March 17, 2016, the publication of which was authorized by CONSOB on March 17, 2016 (the “Second Supplement”), relating to the Public Offering and the admission to trading of the ordinary shares of the Company on the Mercato Telematico Azionario (MTA) organized and managed by Borsa Italiana S.p.A. are available on the website of the Company (www.coimares.com). A hard copy of the Italian Prospectus, the First Supplement and the Second Supplement will be available from the date of commencement of the Public Offering, at the offices of any Italian Placement Intermediary and at the Company’s registered offices in Milan, Via della Moscova n. 18.

The Global Offering is coordinated and directed by Mediobanca – Banca di Credito Finanziario S.p.A. and Citigroup Global Markets Limited, as Joint Global Coordinators, which also act, together with Kempen & Co N.V., Banca IMI S.p.A. and UniCredit Bank AG as Joint Bookrunners in the Institutional Offering. Mediobanca – Banca di Credito Finanziario S.p.A. acts as Lead Manager and Sponsor.

* * * * *

For further information:

COIMA RES – +39 02 65506601 Kelly Russell – Marketing & Communication Director

Italy SEC Relazioni Pubbliche +39 02 624.999.1 Daniele Pinosa – [email protected] – +39 335 7233872 Fabio Leoni – [email protected] – +39 348 8691144

International Tancredi Group +44 (0)207 8877632 Giovanni Sanfelice – [email protected] - +44 777 5858152 Salamander Davoudi – [email protected] - +44 7872057894

Important Regulatory Notice NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION This announcement is for distribution only to persons who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Financial Promotion Order”), (ii) are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations etc.”) of the Financial Promotion Order, (iii) are outside the United Kingdom, or (iv) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as “relevant persons”). This announcement is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons. It may be unlawful to distribute these materials in certain jurisdictions. These materials are not for distribution in Canada, Japan or Australia, or in any other country where the offers or sales of securities would be forbidden under applicable law (the “Other Countries”) or to residents thereof. The information in these materials does not constitute an offer of securities for sale in Canada, Japan, Australia, or in the Other Countries. This announcement has been prepared on the basis that any offer of securities in any Member State of the European Economic Area (“EEA”) which has implemented the Prospectus Directive (2003/71/EC) (each, a “Relevant Member State”), other than Italy, will be made pursuant to an exemption under the Prospectus Directive, as implemented in that Relevant Member State, from the requirement to publish a prospectus for offers of securities. Accordingly any person making or intending to make any offer in that Relevant Member State of securities which are the subject of the offering mentioned in this announcement may only do so in circumstances in which no obligation arises for the Company or any of the managers to publish a prospectus pursuant to Article 3 of the Prospectus Directive or supplement a prospectus pursuant to Article 16 of the Prospectus Directive, in each case, in relation to such offer. Neither the Company nor the managers have authorized,

nor do they authorize, the making of any offer of securities in circumstances in which an obligation arises for the Company or any manager to publish or supplement a prospectus.