Completion of Sale

AXA Property Trust Ltd - Completion of Sale

PR Newswire

London, November 17

17 November 2016

AXA Property Trust Limited

Completion of Sale

The Board of AXA Property Trust Limited is pleased to confirm that the Company, together with its joint venture partner, has completed the sale of the property at Agnadello, Italy. The sales price of €23.2 million (at joint-venture level) reflects a discount of 1.3% below the asset’s independent valuation as at 30 September 2016. Net sales proceeds in respect of the Company’s 50% ownership are approximately €11.46 million after allowing for transaction expenses and associated disposal costs.

The Company will now use a combination of net sales proceeds and existing cash reserves to fully repay its outstanding debt Facility of €11.48 million with Crédit Agricole-CIB prior to the maturity date of 31st December 2016.

Further updates on the Company’s sales programme will be provided in due course.

All Enquiries:

Investment Manager AXA Investment Managers UK LimitedBroker Services7 Newgate StreetLondon EC1A 7NXTel: +44 (0)20 7003 2345Email: broker.services@axa-im.com

Corporate BrokerStifel Nicolaus Europe Limited150 CheapsideLondon EC2V 6ETTel: +44 (0)20 7710 7600

Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LimitedTrafalgar CourtLes BanquesSt Peter PortGY1 3QL

Tel: +44 (0)1481 745324