Hispania Activos Inmobiliarios SOCIMI : ANNOUNCEMENT OF THIRD QUARTER RESULTS 2016

PRESS RELEASE

• Hispania generated gross rents of 100 million euro in the first nine months of 2016, five times more than the same period in 2015.
• Hispania consolidates its position in the market as the largest hotel owner (non-operator) in Spain.
• Based on its solid 2016 results, it is the intention of the company to pay an interim dividend of 17 million euro out of the expected total of 40 million euro on the back of 2016 results.

During the first nine months of the year Hispania has recorded gross rental income of 100 million euro and recurring EBITDA of 64 million euro, which after the revaluations of the first half of 112 million euro, reach a net profit of 137 million euro, 11x more than the same period of 2015. The company's good results are mainly a consequence of the excellent performance of the hotel segment, which accounts for 82% of total rents.

At the end of the period Hispania has registered a total GAV of 1,684 million euro and a NAV of 1,326 million euro equivalent to 12.24€/share, which represents an 11% growth vs December 2015.

As a sign of confidence on the good outlook of the company's results Hispania announced a dividend of 40 million euro against 2016 results, of which 10 million euro were already paid and 17 million euro are expected to be paid in November 2016. The final dividend payment on the back of 2016 results will be distributed after the 2017 AGM takes place.

Hispania has more than 10,500 keys throughout 36 hotels, which makes it the largest non-operator hotel owner in Spain and the second if we include Spanish hotel operators. Its hotel portfolio is concentrated in the best locations of the Canary and Balearic Islands as well as vacational areas in coastal areas and main tourist cities. It is worth mentioning the excellent results of the island hotels, which have shown increases in total RevPar of 21% in Canaries and 17% in the Balearic Islands compared to the same period last year. During the same period occupancy levels have recorded increases of 4% and 5% in the Canaries and Balearics respectively.

In offices, Hispania has more than 186,700 sqm throughout 27 buildings in Madrid and Barcelona. These figures include the latest acquisition of a plot in Madrid where 2 buildings will be built with a surface of 33,000sqm. Noteworthy is the rental increase of 7% since 2015 year end as a result of the repositioning works within the different assets as well as Hispania's active commercialization.

In the residential segment, Hispania has recorded an increase in rents of 11% during the first nine months of the year thanks to the impact of the refurbishments done in Isla del Cielo (Barcelona) and Sanchinarro (Madrid), which have reached increases of 71% and 31%, respectively compared to the rents prior to such refurbishments. Furthermore Hispania has concluded selective flat sales in Isla del Cielo registering equivalent annual returns above 20%.

Hispania expects its hotel portfolio to maintain its good performance for the remainder of the year, as well as in its office and residential portfolio where refurbishments will continue to impact rents and occupancy.

"The excellent results recorded in the third quarter and its favourable evolution against last year show the good track-record of the Company in all the segments it operates, especially in the hotel segment. These figures show the capacity of the management team to identify and execute acquisitions with high revaluation potential which constitutes an important value creation for our shareholders" says Concha Osácar, Board member of Hispania.

Noemí Sánchez: noemi@irazustacomunicacion.comNacho Miquel:nacho.miquel@irazustacomunicación.com

+34 91 563 41 79

Isabel Troya: isabeltroya@azora.es

Pilar Vico de Haro: pilarvicodeharo@azora.es Tfn.: +34 91 310 6370

Hispania became listed on the Spanish Stock Exchange on the 14th of March of 2014 and as of today it has raised €1,083 million. Hispania's currentportfolio includesmorethan 209,600 sqminoffices, morethan 750 dwellingsandmorethan 10,400 keys.

Hispania's goal is to capture investment opportunities in the Spanish Real Estate markets andcreating a portfolio of high quality assets in theresidential, hotelandofficessectors.

Hispania is part of the FTSE EPRA / NAREIT Global Real Estate Index, Ibex Small Cap Index, GPR Index, Euronext IEIF REIT Europe Index and S&PGlobal Real Estate Index.

In accordance with best corporate governance international practices, Hispania´s Board of Directors, chaired by Rafael Miranda, has a majorityof independent Board Members.

Hispania is externallymanagedby Azora Gestión S.G.I.I.C., S.A., whichhasgrantedittotalexclusivity forallof its investmentdealflow in Spain, exceptforstudenthousing.

Grupo Azora (hereinafter "Azora") is a leading Spanish independent asset manager, founded in 2004 and with over €3,800 million of assetsundermanagement. Azoramanages Hispaniathroughitssubsidiary Azora Gestión S.G.I.I.C., S.A., aregulatedassetmanagement companyunderthesupervisionofthe Spanish Stock Exchangeregulator(CNMV).

Azora's platform is one of the largest in Spain, with a team close to 300 professionals with extensive experience across the Real Estate value chain, including deal origination, structuring and investment, new developments and repositioning, asset and property management as wellas disposalof individual assets or portfolios. Azora is specialized in four assets classes: residential (Azoramanages the biggest portfolio under rent in Spain, with 12,391 dwellings), student housing (also managing the biggest portfolio in the country, with 8,530 beds) andthebiggesthotelportfolio underrentin Spain, withmorethan 11,900 rooms.