PAREF maintains prudent management of its activities and makes further progress across all its business lines

PAREF Group's consolidated revenue reached €18.5m as of September 30, 2026. This represents a decrease of 6% compared to the same period in 2025 and a decrease of 3% excluding the impact of the sale of SOLIA Paref. This change is primarily due to:

REIT activity: gross rental income is rising (+14%), driven by:

• the new lease signed on the Tempo asset;
• a favorable base effect linked to the Franklin Tower;
• the positive impact of rent indexation.

The weighted average lease break (WALB) stands at 3.83 years on September 30, 2026, compared to 4.06 years on June 30, 2026, reflecting the natural evolution of the portfolio over the period.

Furthermore, in anticipation of the upcoming lease expiries at the Franklin Tower (La Défense), PAREF has started marketing the spaces currently occupied by its tenant Wavestone. The consulting firm, which will be consolidating its teams in central Paris, will vacate the space owned by PAREF (i.e. 2 floors) in 2 phases, on June 30, 2027 and then on September 30, 2027.

Lastly, on July 23, 2026, PAREF signed a preliminary sales agreement for the Croissy-Beaubourg (77) asset with the European leader in last-mile logistics real estate. The sale, subject to the fulfillment of conditions precedent, is expected to be finalized in the first quarter of 2027.

Third-party asset management: in a distribution market that still operates at two speeds, PAREF is relying on the recurring nature of its management fees:

• Management fees are down 4% compared to the same period in 2025, mainly due to a lower volume of disposal fees, partially offset by new asset management mandates in Germany. Excluding the impact of the sale of SOLIA Paref, management fees are up slightly by 1% on a like-for-like basis;
• Subscription fees fell by 67% in an SCPI market once again weakened by rising long-term interest rates and fundraising still concentrated on a limited number of vehicles. In order to best support its partners and increase the visibility of its product range, PAREF Gestion strengthened its sales teams in September 2026.

• PAREF Gestion has also expanded its product offering with the launch, in late September 2026, of PAREF Vitae Value Add Fund I, a specialized professional fund (FPS) dedicated to health, care and wellness real estate, investing mainly in France with selective expansion into Europe, according to a Value-Add strategy based on the operational transformation of assets and the enhancement of their rental value.

In summary:

Other key event of the quarter

• EPRA Awards: further recognition awarded by EPRA to PAREF Group for the quality of its financial and extra-financial reporting: BPR Gold Award, the highest level of distinction, for the 8^th consecutive year, and sBPR Award at Silver level for the 3^rd consecutive year.

Post-closing events: successful conclusion, in Asset Management, Fund Management and Investment, of transactions initiated in recent months

• The marketing of the Parisian asset Tempo continues: a lease for over 600 sqm of office space (2nd and 6th floors) has been signed with a film production company. This firm 9-year lease will take effect on December 31, 2026.

• New acquisitions for the SCPI PAREF Prima: two essential retail properties in Hamm and Bielefeld (Germany), acquired in October 2026, totaling approximately 20,300 sqm. They are fully leased, under firm 7.5-year leases, to Handelshof, a Cash & Carry specialist in Germany belonging to the EDEKA group.

• Support for Parkway Life REIT: signing of a preliminary sales agreement for the acquisition of a new portfolio of three nursing homes in France, for €38.8m. The completion, subject to the fulfillment of customary conditions precedent, is expected by the end of 2026. Parkway Life REIT's French portfolio will then comprise 14 nursing homes, valued at around €160m.

The third quarter illustrates the progress of our roadmap: a refocused and actively managed portfolio, an expanded offering in healthcare real estate, continued European development, and increasing recurring revenues. This momentum is in line with our priority: the lasting restoration of our financial position, for which we are pursuing the efforts undertaken over more than a year.

Takuya Yamada
Interim Chairman & CEO of PAREF

These past months demonstrate the Group's ability to support its clients, both institutional and individual, in a demanding market. Following the launch of PAREF Vitae Value Add Fund I in late September, the beginning of the fourth quarter has seen further progress across each of our business lines, whether in asset leasing, fund deployment or support for institutional investors. We intend to continue along this path, with active and selective management focused on sustainable value creation.

Anne Schwartz 
Deputy CEO of PAREF and CEO of PAREF Gestion

Financial agenda

March 2, 2027: 2026 Annual Results

About PAREF Group

PAREF is a European group committed to achieving sustainable real estate performance. As a leading player in real estate investment and management, the Group oversees nearly €3 billion in assets as of June 30, 2026, more than half of which are located outside France.
For more than 30 years, PAREF has relied on the expertise of its teams to support shareholders, investors, tenants and users.
With a strong presence in France, Germany, Italy and Switzerland, PAREF pursues an approach that combines profitability targets, sustainability and client satisfaction. The Group serves both institutional and private investors, thereby contributing to the transformation of the real estate sector.
PAREF is a SIIC real estate company listed on Euronext Paris, Compartment C, under ISIN FR0010263202 – Ticker PAR.
More information at www.paref.com

Press Contacts

PAREF Group: Samira Kadhi - +33( 0)7 60 00 59 52 - samira.kadhi@paref.com
Shan Agency: Claire Hilbert - +33 (0)6 15 80 91 30 - paref@shan.fr

[1] Excluding reinvoiced rental charges