GROUP OVERVIEW Key figures 1 1.2.4 Sectorial key performance indicators (EPRA format) The following performance indicators have been prepared in For more information on the definitions, methodology and calculations accordance with best practices as defined by EPRA (European Public of the below sectorial key performance indicators, please refer to Real Estate Association) in its Best Practices recommendations guide. section 2.8 of this registration document titled “EPRA performance This updated guide is available on the EPRA website: www.epra.com. indicators”. 3 EPRA EARNINGS 3 EPRA NAV & NNNAV (1) (in € per share) (in € per share) 36.7 37.6 39.6 2.23 2.39 34.7 35.2 2.10 33.2 2015 2016 2017 2015 2016 2017 EPRA NNNAV EPRA NAV 3 EPRA NET INITIAL YIELD 3 EPRA “TOPPED-UP” NET INITIAL YIELD (shopping centers) (shopping centers) 5.1% 4.9% 4.8% 5.2% 5.1% 4.9% 2015 2016 2017 2015 2016 2017 3 EPRA VACANCY RATE 3 EPRA COST RATIO (shopping centers) 3.8% 3.5% 20.4% 3.2% 18.3% 18.7% 18.3% 16.8% 16.7% 2015 2016 2017 2015 2016 2017 Including direct vacancy costs Excluding direct vacancy costs (1) In the second half of 2016, Klépierre elected to apply the fair value method (IAS 40) for the recognition of its investment properties. 2015 figures were restated for this change in accounting principles. KLÉPIERRE 2017 REGISTRATION DOCUMENT 9