2017 FULL-YEAR EARNINGS — FEBRUARY 8, 2018 DEVELOPMENT PIPELINE Klépierre Estimated Floor area Expected equity cost(a) Cost to date Targeted yield Development project City Type (sq.m.) opening date interest (€m) (€m) on cost(b) HoogCatharijnePhases 2 & 3 Utrecht extension-refurbishment 76,271 2017-2019 100.0% 438 276 6.4% Créteil Soleil - Phase 1 Paris region extension-refurbishment 11,147 2019-2020 80.0% 134 3 5.7% Other projects (incl. Prado) 29,444 188 160 6.5% TOTAL COMMITTED PROJECTS 116,862 761 438 6.3% Gran Reno Bologna extension 16,360 H2 2020 100.0% 129 15 Bègles Rives d'Arcins(TFE included) Bordeaux extension 25,080 H2 '18-H2 '20 52.0% 31 6 Grand Littoral Marseille redevelopment 12,000 H2 2020 100.0% 30 0 Lonato(c) Lombardy extension 15,000 H2 2020 50.0% 30 0 BarceloneMare Magnum 1 Barcelone extension 8,000 H2 2021 100.0% 45 0 L’esplanade Brussels region extension 19,475 H1 2021 100.0% 131 18 Grenoble Grand Place Grenoble extension 16,040 H2 2021 100.0% 55 0 Val d'Europe Paris region extension 10,620 H2 2021 55.0% 48 0 Grand Portet Toulouse region extension-refurbishment 8,000 H2 2021 83.0% 64 8 Turin Le Gru Turin extension 12,000 H2 2021 100.0% 80 0 Montpellier Odysseum Montpellier extension-refurbishment 11,750 H1 2022 100.0% 36 1 Økernsenteret(c) Oslo redevelopment 53,220 H2 2022 28.1% 86 6 Viva Odense new development 48,500 H2 2022 56.1% 186 24 TOTAL CONTROLLED PROJECTS 256,970 955 77 TOTAL IDENTIFIED PROJECTS 236,500 1,372 14 TOTAL 610,332 3,088 529 (a) Estimated cost as of December 31, 2017 including fitting-out (when applicable) and excluding step-up rents (when applicable), internal development fees, and financial costs. (b) Targeted yield on cost as of December 31, 2017, based on targeted NRI with full occupancy and excluding all lease incentives (when applicable), divided by the estimated cost price as defined above. (c) Assets consolidated under the equity method. For these projects, the estimated cost and cost to date are reported for Klépierre’s share of equity. Floor areas are the total area of the projects. 63