PRESS RELEASES

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Beni Stabili: first half 2017 results

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Major disposal of a mature asset

Milan – 27 June 2017: Beni Stabili has signed today a binding agreement to sell to Luxottica Group S.p.A. an asset of 11,705 sqm of offices located in Milan via San Nicolao for approx. €114.5 m. The price for the asset is above book value and implies a net exit yield of 4.2% based on a residual lease maturity of approx. 4 years

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Beni Stabili S.p.A. Siiq: completion of the strategic agreement for Beni Stabili with Crédit Agricole Assurances and EDF Invest on Telecom Italia portfolio

Following signing in November 2016, Beni Stabili, the leading property company in the Italian real estate sector and owned at 52% by Foncière des Régions, has closed today the disposal of 40% stake in the largest Italian Real Estate SICAF formed earlier this year via the contribution of all its Telecom Italia portfolio (for a value of approx. €1.5bn), along with the associated debt (approx. €0.8bn).

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Beni Stabili S.p.A. Siiq: reinforcement in Milan through a €118 m portfolio acquisition

Reinforcement in Milan through a €118 m portfolio acquisition

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Beni Stabili S.p.A. SIIQ has redeemed its outstanding “€270,000,000 2.625 per cent. Convertible Bonds due 2019” listed on the Luxembourg Stock Exchange

On the date hereof Beni Stabili S.p.A. SIIQ (the “Company”) has redeemed its outstanding convertible bonds named “€270,000,000 2.625 per cent. Convertible Bonds due 2019” (ISIN code XS0981380644) (the “Bonds”), listed on the Official List of the Luxembourg Stock Exchange

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Beni Stabili: 1Q2017 revenues

Milan: May 3rd, 2017 - Sound rental growth

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Litigation with the Comit Pension Fund in liquidation

Follo wing the press release of December 16th, 2016, we inform you that on April 12th, 2017 the company was informed that the " Comit Pension Fund in liquidation” deposited with the Milan Chamber of Arbitration, a demand for arbitration against Beni Stabili for a refund of the amount paid by the Fund (for a sum of € 55,163,000.00) as part of the settlement reached in December 2016 with the Agenzia delle Entrate with respect to the known tax litigation arising from the acquisition - in 2006 - by Beni Stabili of "Immobiliare Fortezza Srl" vehicle company.

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Beni Stabili S.p.A. SIIQ announces the exercise of the option to redeem its outstanding “€270,000,000 2.625 per cent. Convertible Bonds due 2019” listed on the Luxembourg Stock Exchange

Beni Stabili S.p.A. Siiq ( “ Beni Stabili ” or the “ Company ” ) on the date hereof has informed the holders of its outstanding convertible bonds named “ €270,000,000 2.625 per cent. Convertible Bonds due 17 April 2019 ” (ISIN code XS0981380644 ) , issu ed on 1 7 October 2013 ( the “ Bonds ”) , listed on the Official List of the Luxembourg Stock Exchange , that it has exercise d the option to redeem the Bonds pursuant to condition 7(b)(i) (B) of the Bonds (the “ Optional Redemption”).

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Beni Stabili Siiq: Annual General Meeting - Strong 2016 results driving sustainable value creation

The General Meeting of Beni Stabili SpA Siiq’s shareholders, chaired by Mr. Enrico Laghi, has approved the Company’s separate financial statements for the year ended 31 December 2016 and took cognizance of the consolidated financial statements for the same period.

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Settlement of the repurchase by Beni Stabili S.p.A. SIIQ of 98.78% of the outstanding principal amount of its “€270,000,000 2.625 per cent. Convertible Bonds due 17 April 2019

Beni Stabili S.p.A. Siiq (the “ Company ”) announce s the settlement of the repurchase of its €270,000,000 2.625 per cent. Convertible Bonds due 17 April 2019 (the “ Bonds ”) as announced on 28 February 2017 and 1 March 2017.

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Beni Stabili S.p.A. SIIQ confirms the final cash consideration in the context of the successful repurchase of its €270,000,000 2.625 per cent. Convertible Bonds due 17 April 2019 representing 98.9% in its outstanding nominal amount

Further to the announcement s dated 28 February 2017 relating to the invitation by means of a competitive bid (a so called “Modified Dutch Auction”) to collect indications of interest from the holders (“ Bondholders ”) of the €270,000,000 2.625 per cent. Convertible Bonds due 17 April 2019 (the “ Bonds ”) to tender their Bonds for purchase by Beni Stabili for cash (the “ Invitation ”) , Beni Stabili S.p.A. SIIQ (the “ Purchaser ” or “ Beni Stabili ”) hereb y confirms the pricing and final terms of the Invitation.

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Beni Stabili S.p.A. SIIQ announces the successful final results of the repurchase of its €270,000,000 2.625 per cent. Convertible Bonds due 17 April 2019 representing 98.9% in its outstanding nominal amount

Beni Stabili S.p.A. SIIQ (the “ Purchaser ” or “ Beni Stabili ”) launched on 28 February 2017 a n invitation by means of a competitive bid ( a so called “ Modified Dutch Auction ” ) to collect indications of interest from the holders (“ Bondholders ” ) of the € 270,000,000 2.625 per cent. Convertible Bonds due 17 April 2019 (the “ Bonds ”) to tender their Bonds for purchase by Beni Stabili for cash (the “ Invitation ” ). Beni Stabili hereby announces the pricing and final results of the Invitation.

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Beni Stabili S.p.A. SIIQ launches a Tender Offer for its €270,000,000 2.625 per cent. Convertible Bonds due 17 April 2019

Beni Stabili S.p.A. SIIQ ( the “Purchaser” or “Beni Stabili”) hereby announces an invitation to the holders (“ Bondholders ”) of its outstanding €270,000,000 2.625 per cent. Convertible Bonds due 17 April 2019 (the “ Bonds ”) , to tender their Bonds for purchase by Beni Stabili for cash at a purchase price to be determined pursuant to a tender offer procedure by means of a competitive bid (so called Modified Dutch Auction) (the “Invitation”).

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FY2016 Results - Strong results driving sustainable value creation

Milan: February 9th, 2017 - Strong financial results, sound operating performance, game-changing partnership on TI assets, continue growth and value creation

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Beni Stabili SICAF on Telecom Italia portfolio has been granted authorization by Bank of Italy

Milan – 25 January 2017: Bank of Italy has granted authorization to Beni Stabili, the leading property company in the Italian real estate sector, to set up the Italian Real Estate SICAF to which the Group will contribute all of its Telecom Italia portfolio (€1,543 million, based on the appraisal values established at the end of June 2016) along with the associated debt (€810 million).

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