LEG announces the successful upsizing of its convertible bonds due 2030 through a EUR 200 million tap issue

Düsseldorf, November 28, 2024 - LEG Immobilien SE ("LEG" or the "Company") announces the successful placement of its tap issue of guaranteed senior unsecured convertible bonds due 2030, ISIN DE000A3L21D1, in an aggregate principal amount of EUR 200 million (the "New Bonds").

The New Bonds will be issued by LEG Properties B.V. (the "Issuer"), a wholly-owned Dutch subsidiary of LEG, will be guaranteed by LEG, and will be convertible into 1.75 million new and/or existing ordinary registered shares of the Company (the "Shares") initially, representing approximately 2.3% of the Company's current outstanding share capital. The pre-emptive rights of the Company's shareholders (Bezugsrechte) have been excluded.

The New Bonds will be issued on the same terms (save for the issue date and the issue price) as the Issuer's EUR 500 million convertible bonds issued on September 4, 2024 (the "Original Bonds") and will form a single series (Gesamtemission) with the Original Bonds (the Original Bonds and the New Bonds together, the "Bonds") from the settlement date of the New Bonds.

The final Issue Price of the New Bonds is 103.80664% of par. In addition, the Issuer will receive accrued interest with respect to the New Bonds for the period from and including 4 September 2024 to but excluding the settlement date of the New Bonds on the settlement date.

The New Bonds were offered only to institutional investors in certain jurisdictions outside the United States via private placements.

Settlement of the New Bonds is expected to take place on or around December 5, 2024.

LEG intends to arrange for the New Bonds to be included in the trading of the Original Bonds on the Open Market segment (Freiverkehr) of the Frankfurt Stock Exchange.

To permit the Offering, the Joint Global Coordinators have waived, with regard to the issue of the New Bonds, the 90-day lock-up undertaking that was agreed in connection with the issuance of the Original Bonds undertaken by LEG in August 2024. As part of the offering, the Issuer and the Company have agreed to a lock-up period of 90 days, subject to customary exemptions and waiver by the Joint Global Coordinators.

The Company intends to use the net proceeds from the issuance of the New Bonds to refinance indebtedness and for general corporate purposes.