• Neinor has obtained a strong support from investors on its green bond issuance of €300mn, at 5.5 years maturity and a 4.5% cost.

• The demand from investors has surpassed largely the offer size being +5x oversubscribed.

• Neinor pledges to invest an amount equivalent to 100% of net proceeds of the bond issuance on green residential development projects.

Madrid, 15th of April of 2021.- Neinor Homes has successfully completed its first bond issuance, achieving the targeted amount of 300 million, with 5.5 years of maturity and at a 4.5% cost. The operation is the first green bond issuance from a European listed developer and has been fully supported by institutional investors.

The bond was well received by investors, being +5x oversubscribed and that reflects the success of Neinor Homes’ first issuance.

As explained earlier this week, the company will allocate part of the issuance proceeds to repay €158mn of Quabit’s debt whose merger by absorption is expected to be finalized during the second half of May. Furthermore, Neinor will repay €101mn from its own corporate debt and with it eliminate refinancing risk until 2026. Neinor will allocate the rest of the proceeds to finance its rental business and to pay fees and commissions associated with this issuance.

Neinor Homes, the most sustainable developer in Spain and Europe according to the ESG Risk Rating from Sustainalytics, is committed to allocate an amount equivalent to 100% of the net proceeds of the bond to residential projects which help to achieve the United Nations Sustainable Development Goals (SDGs), and which have a clear positive impact on the environment.  In this sense, the eligible green projects will have a BREEAM certification of at least “Good” and with an Energy Performance Certificate of at least B.

Neinor is the number 1 developer in Spain by BREEAM certificates with 38% of the total, illustrating its firm commitment to sustainability.

Borja García-Egotxeaga, Neinor Homes’ CEO highlights: “We are very pleased with the support shown by institutional investors on this bond issuance reflecting the trust on our business plan and the robustness of the company. The market keeps supporting Neinor Homes’ growth strategy and as a company, we maintain the same mentality of diversification and prudence.”

Jordi Argemí, Deputy CEO and CFO adds: “A bond issuance has always been part of our plans under the context of the merger by absorption with Quabit. However, beyond the extension of debt maturities, one of the most noteworthy aspects of this deal are the important cost synergies generated through lower financial costs allowing us to generate financial value to the shareholders of Neinor and Quabit as part of a Real Estate Value-Add transaction. After this bond issuance Neinor intends to repay Quabit’s debt that had a cost between 8% and 16% and will replace it by 4.5% which translates into lower financial expenses and more earnings for our shareholders.”

About Neinor Homes

Neinor Homes is a listed company that leads residential development in Spain with one of the largest fully permitted land banks spread through Madrid, Catalonia, the Basque country, Andalusia and the Valencian community. Furthermore, Neinor complements its residential development activity with servicing and rental businesses and, since 2020, it incorporates 100% of the rental projects value chain.

With over 30 years of track record on residential development, innovation, and sustainability as part of its DNA, the company closed 2020 with 288 employees having delivered more than 1,600 housing units and recording more than €100mn EBITDA confirming its leadership position in the Spanish residential market.

For additional information:

Neinor Homes. Media Manager

Leticia Alonso / [email protected] / 91 287 51 30 / 689 048 837

Investor Relations Team

Jose Cravo / [email protected] / 636 512 080

Javier Beldarrain / [email protected] / 699 915 340