JSS Real Estate SOCIMI, S.A. (BME:YJSS) made an offer to acquire Árima Real Estate SOCIMI, S.A. (BME:ARM) for approximately ?240 million on May 16, 2024. Under the terms of agreement, JSS Real Estate SOCIMI offered ?8.61 per share. The offer is addressed to all shareholders of Árima and consists of a cash consideration of 8.61 euros per share, which represents a premium of 38.9% over yesterday's closing price of the stock, and of 37.9% on the volume-weighted average price (VWAP) of the last 3 months. As a part of acquisition, Árima has committed not to accept the offer with respect to 2,446,435 treasury shares, representing 8.605% of the capital, and to propose to the board their amortization prior to the settlement of the offer, the Safra takeover bid would be directed to all of the remaining shares in circulation (25,982,941 shares), representing 91.395% of the current share capital. Thus, the total amount to be disbursed by Safra will be ?223.7 million after the amortization of the treasury shares. The group plans to finance the payment of the total consideration for the offer with funds from a capital increase, with or without preferential subscription rights, an aspect that remains to be determined and will be communicated later. The board of directors of Árima has analyzed the Offer and considers, subject to their fiduciary duties and the subsequent evaluation of the bid based on the documentation that must be prepared by the Bidder and approved by the CNMV, and also taking into account the advice received from its financial and legal advisors, that the Offer is amicable and attractive to its shareholders, without prejudice that it may recommend other competing offers more advantageous to shareholders. This takeover bid is voluntary and the effectiveness of the tender offer will be subject to reaching a minimum acceptance threshold of more than 50,01% of the shares of Árima.

Ernst & Young Abogados, S.L.P., acted as legal advisor and GBS Finance acted as financial advisor to Árima Real Estate SOCIMI. Uría Menéndez acted as legal advisor and Savills on the part of JSS Real Estate SOCIMI.