CORPORATE NEWS THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAWS OR REGULATIONS

AROUNDTOWN ANNOUNCES FIRST QUARTER 2017 RESULTS:
STRONG START TO THE YEAR AS ROBUST PORTFOLIO GROWTH MAINTAINED AND OPERATIONAL RESULTS CONTINUE TO CLIMB

- Rental and operating income in the first three months of 2017 at EUR114 million, increased +128% YOY

- Adjusted EBITDA growth of +75% to EUR93 million from EUR53 million in Q1 2016

- Net profit amounted to EUR247 million from EUR230 million in Q1 2016

- EPS (basic) at EUR0.33 (Q1 2016: EUR0.27); diluted EPS at EUR0.26 (Q1 2016: EUR0.21)

- FFO I increased 82% to EUR59 million compared to EUR33 million in Q1 2016

- FFO I per share increased to EUR0.09, up 80% from EUR0.05 in first quarter of 2016

- EPRA NAV including perpetual notes of EUR4.8 billion as of March 31, 2017, amounting to EUR6 per share, up 11% from YE 2016

- EPRA NAV of EUR4.2 billion as of March 31, 2017, amounting to EUR5.2 per share, up 6% from YE 2016

- Investment property amounted at the end of March 2017 to EUR5.8 billion, an increase of +16% from EUR5 billion at year-end 2016

- Total assets grew by +16% from EUR8.1 billion at year-end 2016 to EUR9.4 billion

- Retaining conservative leverage with an LTV of 42% as of March 2017; down to 33% on a pro forma basis following the equity capital raise in May 2017 and conversion of in-the-money convertible bonds

- Strong financial profile resulting in high cover ratios with an Interest Coverage Ratio of 5.6x and Debt Service Coverage Ratio of 3.9x in first quarter 2017

- Equity ratio stable at 46%, increasing to 51% on a pro forma basis

- Cash and liquid assets at EUR868 million as of March 2017. This significant level of liquidity provides for ample financial headroom and fuels the acquisition pipeline as attractive opportunities are sourced.

- External portfolio growth supplemented by strong organic growth with like-for-like occupancy increase of +2.2% and like-for-like in-place rent increase of +3.9%

7 June 2017.

Aroundtown continues to achieve progress on multiple fronts

AT started 2017 strong with substantial year-over-year development and with important strategic initiatives in the pipeline. On June 2, 2017, the Company's shares were uplisted to the Prime Standard segment of the Frankfurt Stock Exchange. Additionally, AT is in process of re-domiciling the corporate seat to Luxembourg and continuing as a Luxembourg corporation, expected to be completed in the coming months. These transitions reflect the growth of the Company as a whole and are expected to further increase market visibility, the liquidity and tradability of AT's shares, and facilitate the expansion of the investor base through a larger investor pool. Additionally, these milestones will provide opportunities for inclusion in major European stock indices, such as the DAX family and EPRA indices, and follows last month's uplisting to the Prime Standard of Aroundtown's strategic investment, Grand City Properties SA.

A solid and diversified capital structure serving as a base towards continued growth

The strong growth experienced by AT in recent years is supported by a strong and well balanced capital structure and backed by conservative financial policies, with a current LTV of 33% on a pro forma basis. Having already established access to various European equity and debt markets, AT has now also successfully accessed Asian capital markets with the issuance of USD 450 million straight bonds, as the Company's visibility among global investors continues to grow. To solidify the existing equity base, AT issued equity capital totaling EUR426 million in May 2017 and successfully converted the EUR450m convertible bond Series B into additional fresh equity. This resulted in a pro forma LTV of 33%.

The Q1 2017 financial report is available on the Company's website:
http://www.aroundtownholdings.com/downloads.html

About the Company
Aroundtown Property Holdings Plc (trading symbol: AT1 on Frankfurt Stock Exchange/Xetra) is a specialist real estate company focused on value-add income generating properties primarily in the German real estate markets. Aroundtown Property Holdings Plc (ISIN: CY0105562116) is a public limited liability company incorporated in 2004 under the laws of Cyprus, having its registered office at Artemidos & Nikou Dimitriou, 54 B, 6027, Larnaca, Cyprus (registered number HE148223).

Contact:
Timothy Wright
T: +357-2420-1312
E: [email protected]
www.aroundtownholdings.com

Disclaimer:
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES. THE SECURITIES MENTIONED IN THIS ANNOUNCEMENT HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT. THERE WILL BE NO PUBLIC OFFERING OF THE SECURITIES IN THE UNITED STATES. THIS ANNOUNCEMENT IS DIRECTED AT AND IS ONLY BEING DISTRIBUTED IN THE UNITED KINGDOM TO (I) PERSONS WHO 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 (THE "ORDER"), (II) HIGH NET WORTH ENTITIES, AND OTHER PERSONS TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED FALLING WITHIN ARTICLE 49 OF THE ORDER, AND (III) PERSONS TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). THIS COMMUNICATION MUST NOT BE READ, 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. IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA ("EEA"), THIS ANNOUNCEMENT AND ANY OFFER IF MADE SUBSEQUENTLY IS DIRECTED ONLY AT PERSONS WHO ARE "QUALIFIED INVESTORS" WITHIN THE MEANING OF ARTICLE 2(1)(E) OF DIRECTIVE 2003/71/EC, AS AMENDED (THE "PROSPECTUS DIRECTIVE") ("QUALIFIED INVESTORS"). ANY PERSON IN THE EEA WHO ACQUIRES THE SECURITIES IN ANY OFFER (AN "INVESTOR") OR TO WHOM ANY OFFER OF THE SECURITIES IS MADE WILL BE DEEMED TO HAVE REPRESENTED AND AGREED THAT IT IS A QUALIFIED INVESTOR. ANY INVESTOR WILL ALSO BE DEEMED TO HAVE REPRESENTED AND AGREED THAT ANY SECURITIES ACQUIRED BY IT IN THE OFFER HAVE NOT BEEN ACQUIRED ON BEHALF OF PERSONS IN THE EEA OTHER THAN QUALIFIED INVESTORS, NOR HAVE THE SECURITIES BEEN ACQUIRED WITH A VIEW TO THEIR OFFER OR RESALE IN THE EEA TO PERSONS WHERE THIS WOULD RESULT IN A REQUIREMENT FOR PUBLICATION BY THE COMPANY OR ANY OF THE JOINT BOOKRUNNERS OF A PROSPECTUS PURSUANT TO ARTICLE 3 OF THE PROSPECTUS DIRECTIVE. THIS ANNOUNCEMENT MAY CONTAIN PROJECTIONS OR ESTIMATES RELATING TO PLANS AND OBJECTIVES RELATING TO OUR FUTURE OPERATIONS, PRODUCTS, OR SERVICES, FUTURE FINANCIAL RESULTS, OR ASSUMPTIONS UNDERLYING OR RELATING TO ANY SUCH STATEMENTS, EACH OF WHICH CONSTITUTES A FORWARD-LOOKING STATEMENT SUBJECT TO RISKS AND UNCERTAINTIES, MANY OF WHICH ARE BEYOND THE CONTROL OF AROUNDTOWN PROPERTY HOLDINGS PLC. ACTUAL RESULTS COULD DIFFER MATERIALLY, DEPENDING ON A NUMBER OF FACTORS.