Swiss Life Asset Management AG: Swiss Life REF (CH) ESG Swiss Properties:
largest capital increase by a listed Swiss real estate fund to date successfully
completed

Swiss Life Asset Management AG / Key word(s): Capital Increase
Swiss Life Asset Management AG: Swiss Life REF (CH) ESG Swiss Properties:
largest capital increase by a listed Swiss real estate fund to date
successfully completed

16-Jul-2024 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

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Zurich, 16 July 2024
Ad hoc announcement pursuant to Art. 53 LR


Swiss Life REF (CH) ESG Swiss Properties: largest capital increase by a
listed Swiss real estate fund to date successfully completed


Swiss Life Asset Managers has successfully completed the largest capital
increase to date by an exchange-listed Swiss real estate fund. The Swiss
Life REF (CH) ESG Swiss Properties real estate fund attracts around CHF 610
million in new funds, making the fund one of the five largest
exchange-listed real estate funds in Switzerland.

The capital increase for Swiss Life REF (CH) ESG Swiss Properties from 2 to
12 July 2024 has been successfully concluded. Overall, the issue volume
amounted to around CHF 610 million, which is the largest capital increase to
date for a listed Swiss real estate fund. The fund's market capitalisation
of around CHF 2.5 billion means that it is now one of the five largest
listed real estate funds in Switzerland.

The commission-based issue was implemented on a best-effort basis as part of
a public rights offer in Switzerland. Three (3) subscription rights granted
entitlement to acquire one (1) new unit. A total of 5 400 000 new units will
be issued, which represents a subscription rate of 100%. Payment under
subscription for the new units will be made on 17 July 2024. From that date
on there will be 21 600 000 units in circulation.

The capital increase will be used to acquire a real estate portfolio worth
around CHF 700 million that will make a positive contribution to the net
income of Swiss Life REF (CH) ESG Swiss Properties. The portfolio acquired
from Swiss Life Ltd consists primarily of residential properties in
well-connected suburbs. As well as being used to purchase the portfolio, the
capital raised will be invested in the renovation and densification of
existing residential buildings. In addition, the borrowing ratio will be
reduced to around 23%.

Fund information

     Name:                           Swiss Life REF (CH) ESG Swiss
                                     Properties
     ISIN / security no. of fund:    CH0293784861 / 29378486
     Income:                         Distributing
     Legal form:                     Contractual real estate fund
     Fund domicile:                  Switzerland
     Circle of investors:            Non-qualified and qualified
                                     investors
     Fund management and             Swiss Life Asset Management Ltd
     administrator:
     Portfolio management:           Swiss Life Asset Management Ltd
     Custodian bank:                 UBS Switzerland AG, Zurich
     Market maker:                   Bank J. Safra Sarasin AG, Zurich

Information
Media Relations
Phone +41 43 284 77 77
media.relations@swisslife.ch

Investor Relations
Phone +41 43 284 52 76
investor.relations@swisslife.ch

www.swisslife-am.com


Swiss Life Asset Managers
Swiss Life Asset Managers has more than 165 years of experience in managing
the assets of the Swiss Life Group. This insurance background has exerted a
key influence on the investment philosophy of Swiss Life Asset Managers,
which is governed by such principles as value preservation, the generation
of consistent and sustainable performance and a responsible approach to
risks. Swiss Life Asset Managers offers this proven approach to third-party
clients in Switzerland, France, Germany, Luxembourg, the UK, Italy and the
Nordic countries.

As at 31 December 2023 assets under management for third-party clients
amount to CHF 111.8 billion. Together with insurance mandates for the Swiss
Life Group, total assets under management at Swiss Life Asset Managers stood
at CHF 255.7 billion. Swiss Life Asset Managers is a leading real estate
manager in Europe1. Of the assets totalling CHF 255.7 billion, CHF 85.4
billion is invested in real estate. In addition, Swiss Life Asset Managers,
in cooperation with Livit, manages real estate totalling CHF 21.2 billion in
value. Total real estate assets under management and administration at the
end of December 2023 thus came to CHF 106.7 billion.

Swiss Life Asset Managers employs more than 2200 people in Europe.

Self-determined Life
Swiss Life enables people to lead a self-determined life and look to the
future with confidence. Swiss Life Asset Managers pursues the same goal: We
think long-term and act responsibly. We use our knowledge and experience to
develop future-oriented investment solutions. This is how we support our
customers in achieving their long-term investment objectives, which in turn
also take account of their client's needs so they can plan their financial
future in a self-determined manner.

1 INREV Fund Manager Survey 2023 (AuM as of 31.12.2022)

Disclaimer
This announcement has been produced with the greatest possible care and to
the best of our knowledge and belief. However, we do not accept any
liability for losses resulting from the use of this information. This
publication is not intended as a solicitation or recommendation to buy or
sell investment instruments, but only serves to provide information. Prior
to subscribing or acquiring fund units on the stock exchange, investors
should obtain and carefully read the detailed information on the fund
contained in the regulatory documentation (prospectus with integrated fund
contract, PRIIPs KID and the latest annual and semi-annual reports) that
serve as the sole legal basis for the purchase of fund units. These may be
ordered free of charge in electronic or printed form from the fund
management company, Swiss Life Asset Management Ltd, General-Guisan-Quai 40,
8002 Zurich.
Past performance is no indication of current or future performance The
performance data do not include commissions and costs incurred when issuing
and redeeming fund units. Both Swiss Life Ltd and the other members of the
Swiss Life Group are entitled to positions in this fund and to purchase
and/or sell them. Swiss Life Asset Managers' funds may not be offered for
sale or sold in the US or on behalf of US citizens or US persons residing in
the US. "Swiss Life Asset Managers" is the brand for the asset management
activities of the Swiss Life Group. More information is available at
www.swisslife-am.com. Source: Swiss Life Asset Managers (unless stated
otherwise). All rights reserved. Contact: info@swisslife-am.com.

Additional features:


File: https://eqs-cockpit.com/c/fncls.ssp?u=e7282fb262b0739ee87b001fa7ad15ba
File description: Media release (PDF)

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End of Inside Information

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   Language:       English
   Company:        Swiss Life Asset Management AG
                   General-Guisan-Quai 40
                   8022 Zürich
                   Switzerland
   Phone:          +41 43 284 77 09
   E-mail:         sl-am-communication@swisslife-am.com
   Internet:       www.swisslife-am.com
   ISIN:           CH0293784861
   Valor:          29378486
   Listed:         SIX Swiss Exchange
   EQS News ID:    1945619

End of Announcement EQS News Service
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1945619 16-Jul-2024 CET/CEST