GROUP OVERVIEW 1 Klépierre’s strategy at a glance 1.1 Klépierre’s strategy at a glance Klépierre is the owner and operator of the leading shopping center platform in Europe. Klépierre has a property portfolio of more than 100 leading shopping centers, attracting 1.1 billion visitors each year and valued at close to €24 billion as of December 31, 2017. Since 2013, Klépierre has focused on retail assets only and has constantly upgraded the quality of its portfolio by pursuing a clear strategy aimed at anticipating retail trends to continuously enrich the shopping experience in the malls it owns and manages. A leading, pan-European platform > Connect, because Klépierre’s shopping centers are not only part of the retail becoming phygital, by integrating the retailers’ Located in the most attractive regions in Continental Europe, Klépierre omnichannel platforms and offering digital services, they are also shopping centers offer international brands unique locations that at the center of local ecosystems where multiple and diverse enable them to develop and enjoy access to more than 150 million communities interact. consumers in more than 50 cities. The relevance of the Klépierre platform is built on a dense network Customer-centric mall management of high potential territories. The Group targets Continental European metropolitan areas whose demographic or economic growth exceeds For many years, Klépierre has been evolving from a mere property the national average and that offer opportunities to strengthen its owner to a retail-focused company concentrating its efforts on better positions. Indeed, Klépierre is positioned: serving its first customers: the retailers. > in large catchment areas whose average size reaches Retailers are experiencing the fast and profound revolution of their (1) 1,150,000 inhabitants; industry. Klépierre facilitates their transformation by creating the > in wealthy regions whose GDP per capita is 22% above the conditions for the renewal of physical retail. This is the main purpose (2) of its “Retail First” initiative. European average; > in growing cities, as the demographic growth of its catchment Klépierre also pays increasing attention to its end customers through (3) an active marketing policy and specific mall design guidelines, areas by 2025 is projected to be 5.7%, 330 bps above the both aimed at enhancing the customer experience in its malls. This European average. (4) attention is embodied in two concepts that supplement Klépierre’s The principal assets, whether they were developed by the Group client-centric management: Let’s Play® and Clubstore®. or recently acquired, occupy leading positions in the heart of their catchment area. Retail First Klépierre owns iconic leading centers in 16 European countries, incuding As the principal landlord of most of the international retailers present Créteil Soleil and Val d’Europe (Paris), Saint-Lazare (Paris), Blagnac in Europe, Klépierre interacts regularly with them. These privileged (Toulouse) in France; Porta di Roma (Rome), Le Gru (Turin), Campania relationships enable Klépierre to facilitate their growth efficiently, whether (Naples), Nave de Vero (Venice) in Italy; L’esplanade (Louvain-la- this means optimizing their presence and their store format or offering Neuve) in Belgium; Field’s (Copenhagen), Emporia (Malmö), Oslo City new points of sale. They also foster acceleration in terms of upgrading (Oslo) in Scandinavia; Hoog Catharijne (Utrecht) in the Netherlands; the retail mix through a better understanding of the challenges and needs Maremagnum (Barcelona), Plenilunio, and La Gavia (Madrid) in Spain; of retail tenants. Nový Smíchov (Prague) in the Czech Republic; and Boulevard Berlin in Germany. Retail First consists of several initiatives that Klépierre implements as part of its leasing management. The main two are: Shop. Meet. Connect.™ > Rightsizing consists of ensuring that retailers are able to offer the right format at the right location. In many cases, it implies In early 2018, Klépierre adopted a new baseline that better expanding or reducing the size of their stores, and/or relocating encapsulates its vision of a mall: Shop. Meet. Connect™. Indeed, the them in more appropriate locations within a given shopping center; Group develops shopping centers as local hubs where people can: > Destination Food® is a comprehensive plan to develop and > Shop, because Klépierre is convinced that the type of physical enhance the food and beverage offer in Klépierre malls. retail it offers will continue to expand and flourish. Shoppers like going to Klépierre’s shopping centers because they are places where new products are best showcased and brand loyalty is actually built and strengthened. > Meet, because customers are looking for more than just shopping when they come to a mall. They are looking to have an experience. (1) Average population in the catchment areas of Klépierre’s shopping centers (30 min drive radius) weighted by their value as of December 31, 2017. (2) Average GDP per capita of the regions where Klépierre’s shopping centers are located weighted by their asset value as of December 31, 2017, vs. European GDP per capita average (Source: Eurostat, purchase power standard). (3) Average demographic growth between 2015 and 2025 in the catchment areas of Klépierre’s shopping centers weighted by their asset value as of December 31, 2017 (Source: Eurostat, Klépierre’s calculations). (4) In countries where Klépierre is positioned in Europe, including Turkey (Source: Eurostat). 4 KLÉPIERRE 2017 REGISTRATION DOCUMENT