Press Release

Bankinter and Sonae Sierra launch the first SIGI in

• Following their success in Spain, partners want to replicate the model in Portugal.

• Extending the Bankinter/Sonae Sierra partnership will create a real estate portfolio of assets under management of more than 500 million euros, placing it at the level of the largest Iberian players.

Following the success achieved in Spain with Olimpo Real Estate SOCIMI, launched in February 2017, Bankinter and Sonae Sierra decided to replicate the model in Portugal and have already proceeded with the commercial registration of Olimpo Real Estate Portugal, SIGI, S.A. (ORES Portugal) as Sociedade de Investimento e Gestão Imobiliária (SIGI – Real Estate Investment and Asset Management Company).

Extending the Bankinter/Sonae Sierra partnership will create a real estate portfolio of assets under management of more than 500 million euros, placing it at the level of the largest Iberian players.

This partnership brings together two reference institutions in their respective areas of activity: Sonae Sierra, which will be responsible for the management of the real estate portfolio and the administrative management of the company, and Bankinter, one of the most robust banks in Europe, which will be the strategic manager of the vehicle.

With this initiative, the first of its kind in Portugal, Bankinter will give its customers the opportunity to invest in stable assets and with commercial operating agreements, benefitting from a diversified portfolio and that is expected will include Supermarkets, Hypermarkets, Stores, Retail Parks and Offices essentially located in the largest urban centres in Portugal, likewise providing them with the opportunity to invest in Spain.

Bankinter’s Investment Bank structured this operation in a similar format to that used in Spain, where there are seven alternative financial funds with assets that total circa 3,000 million euros invested in different sectors: hotels, renewable energy, student accommodation, venture capital and commercial real estate.

For Pedro Lobo, Director of Bankinter’s Private Banking in Portugal, ”The creation of SIGI ORES Portugal represents a unique and exclusive opportunity for our Private Customers to diversify their investments, benefitting from an innovative financial instrument in

Press Release

Portugal, to be admitted to trading on the market, managed by reference partners and with very interesting potential returns in the current context of low interest”.

Pedro Caupers, Executive Director, responsible for Sonae Sierra’s Investment area, highlights that: “Our international experience as real estate investment managers will enable us to create a pioneering vehicle in Portugal, which could have very interesting returns, consolidating our leading position in the development of innovative solutions, to meet the ambitions of our investors and partners”.

About Bankinter Bankinter is one of the most robust, solvent and profitable financial institutions in Spain. In 2018, it reported a net income of 526.4 million euros. The bank ended 2018 with a solid capital CET1 fully loaded ratio of 11.75% and a default rate of 2.9%, the result of rigorous risk management. Bankinter is a reference entity, known for its high technological development, above-average service quality in the sector and a clear focus on innovation and the use of alternative channels in its relationship with clients. For more information you can consult the Bankinter’s Portugal Corporate website: https://webcorporativa.bankinter.pt

About Sonae Sierra Sonae Sierra, www.sonaesierra.com, is an international real estate company committed to delivering solutions to meet its clients’ ambitions. We develop, manage and invest in sustainable assets and provide investment, architecture & engineering and property management services for clients in geographic areas as diverse as Europe, South America, North Africa and Asia, while creating shared value for our business and society.

Sonae Sierra owns more than 35 shopping centres with a market value of more than €7 billion euros, and manages and/or leases more than 90 real estate assets with a Gross Lettable Area of nearly 3 million m2 and about 9,500 tenants. At present, Sonae Sierra has 11 projects under development, including 6 for clients.

Sonae Sierra is currently working with more than 20 investors at the asset management level, and manages five investment funds for a large number of investors from all over the world.