Public repurchase offer, followed by a squeeze-out on Covivio Développement Logements

The following pages contain information relating to the buyout offer followed by a squeeze-out (the "Offer") initiated by Covivio on the shares of Covivio Développement Logements. None of this information relating to the Offer is intended to be disseminated in countries other than France. The Offer is not open and has not been subject to the control and/or authorization of any regulatory authority other than the Autorité des Marchés Financiers and no action will be taken to this end.

This information shall not constitute an offer to sell, exchange or acquire financial securities or a solicitation of such offer in any country where such offer or solicitation would be unlawful or address to whom such offer could not be validly made, especially in the United States (understood as the United States of America, their territories and possessions, or any of those States and the District of Columbia).

The shareholders of Covivio Développement Logements located outside France may solely participate in the Offer insofar as such participation is authorized by the local law to which they are subject.

Persons into whose possession the information relating to the Offer comes are required to inform themselves about, and observe, any applicable legal or regulatory restrictions. Non-compliance with these restrictions may constitute a breach of the laws and regulations applicable in stock exchange transactions in some countries.

Covivio, initiator of the Offer, and Covivio Développement Logements disclaim all liability in the event of any breach by any person of applicable legal or regulatory restrictions.

By accessing the following pages, you confirm and warrant that (i) you are currently a French resident physically present in France and (ii) you respect and agree to abide by the restrictions mentioned above.