Hammerson and Allianz Real Estate arrange a seven-year loan secured on Dundrum Town Centre Hammerson plc (Incorporated in England and Wales) (Company number 360632) LSE share code: HMSO JSE share code: HMN ISIN: GB0004065016 (“Hammerson” or “the Company”) 01 September 2017 Hammerson and Allianz Real Estate arrange a seven-year loan secured on Dundrum Town Centre Hammerson plc (“Hammerson”) today announces that, together with its 50/50 joint venture partner Allianz, it has arranged a EUR625 million seven-year term loan (Hammerson’s share EUR312.5 million) secured on Ireland’s pre-eminent shopping and leisure destination, Dundrum Town Centre (“Dundrum”). BNP Paribas and DekaBank acted as lead arrangers and Allianz Real Estate acted on behalf of a number of Allianz companies. The facility is secured on Dundrum at a conservative leverage below 40%. The non-recourse facility is repayable in full at maturity in September 2024 and the interest cost is expected to be less than 2% (following fixing of the underlying reference swap rate). Dundrum, valued at more than EUR1,500 million, is the largest asset in a portfolio which Hammerson and Allianz invested in during October 2015 as part of a long term investment strategy in Ireland. Located in the affluent and densely populated southern Dublin catchment, Dundrum is the capital city’s leading retail destination providing over 120 shops, 38 restaurants, a 12-screen cinema and 3,400 car park spaces. The 123,800 m(2) centre is 99% occupied and generates total passing rent of circa EUR66 million per annum. Dundrum is differentiated by its modern large-format flagship stores which position it to benefit from the current polarisation trends in retail and attract international brands entering Ireland. Commenting on the transaction, Richard Sharp, Hammerson’s Group Treasurer said: "Given the high calibre of the underlying asset of Dundrum Town Centre we saw strong demand for this loan and hence have secured attractive pricing at a historically low coupon. We continue to actively focus on reducing our cost of debt, benefiting from a wide range of funding sources, mostly unsecured but also secured debt in selective circumstances with our joint venture partners." Hammerson’s share of net proceeds will be used to reduce drawings under its revolving credit facilities and group LTV will be unchanged. The majority of Hammerson’s financing continues to be on an unsecured basis. Post completion of this facility the ratio of secured debt to net tangible assets (which includes the Group’s share of interests in Premium Outlets) will be 8%, well below the 50% covenant restriction in the Group’s unsecured debt. The Group’s percentage of fixed rate debt will increase on a pro forma basis from 76% at 30 June 2017 to 83% and the foreign exchange hedge of euro-denominated liabilities to euro-denominated assets of 80% at 30 June 2017 will remain unchanged. For further information contact; Rebecca Patton, Head of Investor Relations Tel: +44 (0) 20 7887 1109 rebecca.patton@hammerson.com Richard Sharp, Group Treasurer Tel: +44 (0) 20 7887 1119 richard.sharp@hammerson.com Note: Hammerson has its primary listing on the London Stock Exchange and a secondary inward listing on the Johannesburg Stock Exchange. Joint Sponsors: Deutsche Securities (SA) Proprietary Limited Java Capital Notes to Editors Hammerson is a FTSE 100 owner, manager and developer of retail destinations in Europe. Our portfolio of high-quality retail property has a value of around £10.5 billion and includes 23 prime shopping centres, 17 convenient retail parks and investments in 20 premium outlet villages, through our partnership with Value Retail and the VIA Outlets joint venture. Key investments include Bullring, Birmingham, Bicester Village, Oxfordshire, Dundrum Town Centre, Dublin and Les Terrasses du Port, Marseille. ENDS Date: 01/09/2017 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.