FINANCIAL STATEMENTS 3Consolidated financial statements as of December 31, 2017 At December 31, 2016, the breakdown of derivatives by maturity date and the amortization schedule for the corresponding interest flows were as follows: Hedging relationship Derivatives of Klépierre Group In €m Currency 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Total Cash-flow hedge 1,229 EUR 200 350 114 664 NOK 96 176 272 SEK 52 21 63 63 31 230 DKK 63 63 Fair value hedge 935 EUR 585 250 100 935 NOK SEK DKK Trading 2,124 EUR 564 700 260 400 200 2,124 NOK SEK DKK TOTAL FOR THE GROUP 1,298 721 436 913 576 31 200 114 4,288 At December 31, 2016, the corresponding contractual flows (interest) break down as follows (positive flows = payer flows): Hedging In €m relationship 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Total Swaps Cash-flow hedge 10 10 10 3 0 -0 -0 -1 -1 -1 30 Swaps Fair value hedge -17 -12 -12 -5 -1 -47 Swaps/cap Trading -7 -8 -9 22 4 4 3 3 0 11 EUR-denominated derivatives -14 -10 -11 19 4 4 3 2 -1 -1 -5 NOK-denominated derivatives 3 1 0 5 SEK-denominated derivatives 7 5 4 3 1 0 20 DKK-denominated derivatives 1 1 1 1 1 6 TOTAL FOR THE GROUP -2 -2 -5 23 6 4 3 2 -1 -1 26 Fair value of the interest rate hedging portfolio In €m Fair value net of accrued interest as of 12/31/2017 Change in fair value during 2017 Counterparty Cash-flow hedge -21.7 39.1 Shareholders’ equity Fair value hedge 28.8 -18.1 Borrowings Trading 2.3 11.3 Earnings TOTAL 9.5 32.3 100 KLÉPIERRE 2017 REGISTRATION DOCUMENT