FINANCIAL STATEMENTS Consolidated financial statements as of December 31, 2017 3 List of consolidated companies % of interest % of control Full consolidated companies Country 12/31/2017 12/31/2016 Change 12/31/2017 12/31/2016 Change Klépierre Mall Management I GmbH Germany 100.00% 100.00% - 100.00% 100.00% - Projekt Arnekenstrasse Verwaltung GmbH Germany 100.00% 100.00% - 100.00% 100.00% - Klépierre Management Belgique SA Belgium 100.00% 100.00% - 100.00% 100.00% - Klépierre Finance Belgique SA Belgium 100.00% 100.00% - 100.00% 100.00% - Steen & Strøm CenterService A/S Denmark 56.10% 56.10% - 100.00% 100.00% - Steen & Strøm Danemark A/S Denmark 56.10% 56.10% - 100.00% 100.00% - Klépierre Management Espana SL Spain 100.00% 100.00% - 100.00% 100.00% - Klépierre Management Hellas AE Greece 100.00% 100.00% - 100.00% 100.00% - Klépierre Management Magyarorszag KFT Hungary 100.00% 100.00% - 100.00% 100.00% - KFI Hungary KFT Hungary 100.00% 0.00% 100.00% 100.00% 0.00% 100.00% Klépierre Trading KFT Hungary 100.00% 100.00% - 100.00% 100.00% - Klépierre Management Italia S.r.l Italy 100.00% 100.00% - 100.00% 100.00% - Klépierre Finance Italia S.r.l Italy 100.00% 0.00% 100.00% 100.00% 0.00% 100.00% Steen & Strøm Senterservice AS Norway 56.10% 56.10% - 100.00% 100.00% - Steen & Strom Norge AS Norway 56.10% 56.10% - 100.00% 100.00% - Klépierre Vastgoed Ontwikkeling B.V. The Netherlands 100.00% 100.00% - 100.00% 100.00% - Klépierre Management Polska Sp. z o.o. Poland 100.00% 100.00% - 100.00% 100.00% - Klépierre Management Portugal SA Portugal 100.00% 100.00% - 100.00% 100.00% - Klépierre Management Ceska Républika S.R.O. Czech Republic 100.00% 100.00% - 100.00% 100.00% - Klépierre Energy CZ S.R.O. Czech Republic 100.00% 0.00% 100.00% 100.00% 0.00% 100.00% Klépierre Management Slovensko S.R.O. Slovakia 100.00% 100.00% - 100.00% 100.00% - Steen & Strøm Sverige AB Sweden 56.10% 56.10% - 100.00% 100.00% - KLÉPIERRE 2017 REGISTRATION DOCUMENT 127