Termination of agreement of intent Aachen BlueGate

Termination of intention to acquire Aachen BlueGate

Today it was agreed that the previously announced intention to acquire the Aachen BlueGate project (total investment value of 150 MEUR) will be terminated by mutual agreement and without compensation. As a result, the investment planned in Q3/Q4 2023 (in cash or shares) will therefore not take place.

In May 2022, Xior announced the acquisition of Basecamp. This transaction (which was completed on Sept. 15, 2022) included, next to the acquisition of 8 operational student residences and 2 developments, an agreement of intent subject to conditions regarding the acquisition of the Aachen BlueGate residence, a to be developed student residence with c. 460 units and a total investment value of c. 150 MEUR.

The acquisition of BlueGate Aachen as envisaged under this agreement of intent was subject to a number of conditions, including reaching agreement, by March 2023 on a definitive purchase agreement (subject to certain conditions), so that Xior would take over this residence on completion in Q3/Q4 2023. In the course of discussions on the definitive agreement, the parties agreed not to convert the agreement of intent into a definitive agreement but to terminate with immediate effect without paying any termination fee. As a result, the aforementioned 'phase 3' of the Basecamp transaction (see press release dated 30 May 2022) will not proceed and there will be no investment (either in cash or shares) in this regard in the second half of 2023.

This decision is fully in line with Xior's previously announced strategic exercise to optimise its portfolio and pipeline in light of changed market conditions. This removes a source of uncertainty as it is now clear that this future potential transaction will have no impact on either Xior's LTV or its outstanding number of shares.

As mentioned at the publication of the 2022 annual results, the scenario that this investment would not take place was already taken into account when preparing the 2023 earnings forecast. The profit forecast of at least 2.20 EUR EPS for 2023 (+6.3% vs 2022) thus remains unchanged by this announcement. This way Xior manages to eliminate a potential increase in LTV or dilution without negatively impacting earnings expectations.

Find the full press release in the PDF file added below.

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For more information, please contact:

Xior Student Housing NV
Frankrijklei 64-68
2000 Antwerp, Belgium 
www.xior.be

Christian Teunissen, CEO
Frederik Snauwaert, CFO
info@xior.be
T +32 3 257 04 89

Xior Investor Relations
Sandra Aznar
Head of Investor Relations
ir@xior.be
T +32 3 257 04 89

Xior Press Release - Aachen - EN - 22.02.2023.pdf

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Sandra Aznar

Head of Investor Relations

Christian Teunissen

CEO

Frederik Snauwaert

CFO

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About Xior Student Housing NV

Xior Student Housing NV is the first Belgian public regulated real estate company (RREC) specialising in the student housing segment in Belgium, the Netherlands, Spain, Portugal, Germany, Poland, Denmark and Sweden. Within this property segment, Xior Student Housing offers a variety of accommodation, ranging from rooms with shared facilities to en-suite rooms and fully equipped studios. Since 2007, as owner-operator, Xior Student Housing has built high-quality, reliable student accommodation for students looking for the ideal place to study, live and relax. A place with that little bit extra, where every student immediately feels at home.

Xior Student Housing has been accredited as a public RREC under Belgian law since 24 November 2015. Xior Student Housing's shares have been listed on Euronext Brussels (XIOR) since 11 December 2015. On 30 June 2025, Xior Student Housing held a property portfolio worth approximately EUR 3.5 billion. More information is available at www.xior.be.

Xior Student Housing NV, a Public RREC under Belgian law (BE-REIT)
Frankrijklei 64-68, 2000 Antwerp, Belgium
BE 0547.972.794 (Antwerp Register of Legal Entities, Antwerp Division)

Disclaimer
in relation to the expected future performance of Xior and of the market in which it operates ('forward-looking statements'). By nature, forward-looking statements involve inherent risks, uncertainties and assumptions, both general and specific, that appear justified at the time at which they are made but which may or may not turn out to be accurate, and there is a risk that the forward-looking statements will not be realised. Some events are difficult to predict and may depend on factors outside of Xior's control. In addition, the forward-looking statements are only valid on the date of this press release. Statements in this press release relating to past trends or activities may not be interpreted as an indication that such trends or activities will persist in future. Neither Xior nor its representatives, officers or advisers can guarantee that the parameters upon which the forward-looking statements are based are free of errors, nor can they indicate, guarantee or predict whether the expected results set out in such a forward-looking statement will ultimately be achieved. Actual profits, the financial situation and Xior's performance or results may therefore differ substantially from the information projected or implied in forward-looking statements. Xior expressly does not accept any obligations or guarantees as to public updates or reviews of forward-looking statements unless required to do so by law. This press release has been prepared in Dutch and has been translated into English and French. In case of discrepancies between the different versions of this press release, the Dutch version will prevail.

Contact

Frankrijklei 64-68 2000 Antwerp, Belgium Belgium

+32 3 257 04 89

info@xior.be

www.xior.be