Distributable Cash Flow Third Quarter 2020

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November 18, 2020

November 2020. In accordance with the terms set out in the information prospectus for Pei’s Equity Securities Issuance and Placement Program, Pei will make the Distributable Cash Flow (DCF) payment for the third quarter of 2020 on November 17, 2020. This will be the first quarterly returns payment. Going forward, TEIS investors will receive the Distributable Cash Flow payment in February, May, August, and November, corresponding to the vehicle’s operating results for the immediately preceding quarter.

The amount each Investor will receive, calculated based on the interim quarterly financial statements [1], will be COP 29,193 per Security, equivalent to a total absolute value of COP 12,594 million.

The cash flow generated during the third quarter of 2020 was affected by the situation stemming from operating restrictions at some portfolio assets, reflected in temporary discount relief and payment deferrals agreed upon with some tenants.

Although 2020 has been an atypical year for the operating cash flow delivered to investors due to the situation, it is also a year in which the Cash Flow Paid corresponds to 5 quarters: two from 2019 paid in February 2020, and 3 quarters of 2020 paid in August and November. As a result, the dividend yield paid for 2020 reaches a value of 4.79%.

The Distributable Cash Flow for the third quarter of 2020 was authorized by the Advisory Committee.

The corresponding payment will be subject to applicable withholdings based on the tax status of each Equity Securities investor.

[1] The interim financial statements include a review by the statutory auditor of the period’s most significant transactions. Pei’s audited financial statements as of June 30, 2020, are available on the website www.pei.com.co

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