2017 FULL-YEAR EARNINGS — FEBRUARY 8, 2018 THE TRANSFORMATION OF OUR MALLS IS SUSTAINED BY OUR INVESTMENTS Main projects in the committed pipeline Extensions: 76% Greenfield projects: 24% Development pipeline €3.1bn 1 Committed: €761m 2 Controlled : €955m Identified3: €1,372m 1 Projects that are in the process of completion, for which Klépierrecontrols the land and has obtained the necessary administrative approvals and permits. 2Projects that are in the process of advanced review, for which Klépierrehas control over the land (acquisition made or under offer, contingent on obtaining the necessary administrative approvals and permits). 3Projects that are in the process of being defined and negotiated. 16