2017 FULL-YEAR EARNINGS — FEBRUARY 8, 2018 CASH FLOW STATEMENT (€M) TOTAL SHARE GROUP SHARE 12/31/2017 12/31/2016 12/31/2017 12/31/2016 GROSS RENTAL INCOME 1,236.0 1,214.0 1,064.1 1,045.4 Rental & building expenses -130.4 -130.6 -109.3 -111.9 NET RENTAL INCOME 1,105.6 1,083.4 954.8 933.4 Management and other income 96.1 104.8 90.0 98.8 Restatement deferred incomes -0.7 -7.2 -0.7 -7.2 G&A expenses -189.5 -197.6 -179.2 -186.5 Restatement payroll and deferred expenses 15.1 15.5 15.0 15.2 Net cost of debt -169.8 -197.7 -155.8 -180.8 Restatement financial allowance & financial restructuring 14.1 16.1 14.1 16.1 Share in earnings of equity method investees 51.5 61.0 48.5 55.9 Current tax expenses -29.2 -26.6 -26.2 -23.9 NET CURRENT CASH FLOW 893.4 851.6 760.6 721.1 Restatement payroll and deferred expenses -13.8 -7.9 Restatement amortization allowances and provisions for contingencies and losses -14.4 -18.8 EPRA EARNINGS 732.4 694.4 Per share NET CURRENT CASH FLOW PER SHARE 2.48 2.31 EPRA EARNINGS PER SHARE 2.39 2.23 Averagenumberof sharesexcludingtreasuryshares. 306,084,849 311,736,861 59