Pierval

As an investor in a real estate investment company (SCPI), you must take into account the following elements and risks:

Invested amount: the amount that is reasonable for you to invest in the SCPI depends on your personal wealth, your investment prospects and your desire to take specific risks related to a real estate investment,

Investment duration: this is a long-term investment, the recommended minimum holding period of the units is 10 years,

Risk of capital loss: this investment involves a risk of capital loss, like any investment,

Foreign exchange risk: this investment involves a foreign exchange risk related to the foreign currencies of countries located in Europe outside the euro zone as well as in Canadian dollars. This risk could have a negative impact on the valuation of real estate assets as well as on the rents received,

Absence of guarantee: the SCPI is not guaranteed, it does not itself guarantee the reselling of the units, nor the withdrawal of the units, exiting is only possible if there is a counterpart or the establishment of a mechanism for the transfer of assets under the regulations,

Investment on credit: in case of investment on credit, we draw your attention on the repayment of the loan interest of the first maturities in the absence of income, on the repayment of the capital at maturity (if loan in fine) in case of reversal of the real estate market, and on the possible deductibility of loan interests on the property income only in case of a mortgage or a loan allocated to the acquisition of SCPI shares. If the return on the shares purchased on credit is not sufficient to repay the credit, or in the event of a drop in prices when selling the shares, the subscriber will have to pay the difference,

The profitability of an investment in SCPI units depends, in general, on:

Potential dividends that will be paid to you. These depend on the rental conditions of the buildings and can evolve randomly depending on the economic and real estate situation (occupancy rate, rental prices), over the total duration of the investment and according to the constitution of the portfolio,

The amount of capital you will receive when you sell your shares, or if applicable, when the SCPI is liquidated. This amount is not guaranteed and will depend on the evolution of the real estate market over the duration of the investment.

The investors’ attention is drawn to the fact that the Extraordinary General Meeting of 27/06/2018 authorized the SCPI to use leverage, within the maximum limit of 40% of the value of the SCPI’s real estate assets, by:

l Taking out loans, assuming debts, granting guarantees and security interests relating to the assets, in the context of the loans contracted by the company;

l Making acquisitions payable with time.

The SCPI Pierval Santé is managed by Euryale AM. The information note received the SCPI visa No. 20-08 dated March 6, 2020 (updated in August 2021). The notice was published in BALO n°151 of 18 December 2013, n°9 of 13 February 2017, n°124 of 16 October 2019 and n°16 of 5 February 2021. Euryale Asset Management, RCS PARIS 518 574 033, received AMF approval N°GP14000027 of 22 July 2014