2017 FULL-YEAR EARNINGS — FEBRUARY 8, 2018 … RESULTING IN HIGH REVERSION AND REDUCED VACANCY Reversionrates1by geographicregion 12.9% France-Belgium 11.0% Average reversion Italy 15.8% Scandinavia 12.4% Iberia 20.2% 3.2% CEE and Turkey 8.9% EPRAvacancy rate (-30bps) The Netherlands 13.5% Germany −4.6% TOTAL 12.9% 1 Reversion calculated on the basis of Minimum Guaranteed Rents for renewed and re-let spaces. Scope includes assets consolidated under the equity method at 100%. 29