/CONTENTS 01 GROUP OVERVIEW 3 04 SUSTAINABLE DEVELOPMENT 163 1.1 Klépierre’s strategy at a glance 4 4.1 Strategy and organization 164 1.2 Key figures 6 4.2 Act for the Planet 176 1.3 Stock market and shareholder base 10 4.3 Act for Territories 191 1.4 Background 11 4.4 Act for People 193 1.5 Property portfolio as of December 31, 2017 12 4.5 Methodology, Concordance table 1.6 Simplified organization chart as of and data verification 206 December 31, 2017 24 1.7 Competitive position 25 1.8 Main risk factors 26 05 CORPORATE GOVERNANCE REPORT 215 1.9 Internal control and risk management 32 5.1 Management and oversight of the Company 217 5.2 Compensation and benefits 02 of executive corporate officers 240 BUSINESS FOR THE YEAR 41 2.1 Business overview 42 2.2 Business activity by region 47 06 SHARE CAPITAL, SHAREHOLDING, 2.3 Consolidated earnings and cash flow 53 GENERAL MEETING 2.4 Investments, development, and disposals 55 OF SHAREHOLDERS 265 2.5 Parent company earnings and distribution 57 6.1 Share capital and shareholding 266 2.6 Portfolio valuation 58 6.2 General Meeting of Shareholders 281 2.7 Financial policy 62 2.8 EPRA Performance Indicators 65 2.9 Events subsequent to the accounting 07 ADDITIONAL INFORMATION 293 cut-off date 69 2.10 Outlook 69 7.1 General information 294 7.2 Documents accessible to the public 296 7.3 Statement of the person responsible for 03 FINANCIAL STATEMENTS 71 the registration document which serves as the annual financial report 296 3.1 Consolidated financial statements 7.4 Persons responsible for audits as of December 31, 2017 72 and financial disclosures 297 3.2 Statutory Auditors’ report 7.5 Concordance tables 297 on the consolidated financial statements 129 3.3 Corporate financial statements as of December 31, 2017 132 GLOSSARY 303 3.4 Statutory Auditors’ report on the financial statements 156 3.5 Other information 159 DISCOVER THE INTERACTIVE VERSION OF YOUR REGISTRATION DOCUMENT ON KLEPIERRE WEBSITE www.klepierre.com