2012 Full-year results: Presentation - Unibail-Rodamco

49DIVIDEND AND MISCELLANEOUS• Dividend of €8.40 per share (1) for 2012:• +5.0% increase from 2011• 88% pay-out ratio (2)• €5.27 per share paid in cash from SIIC activities• No 3% dividend tax payable by Unibail-Rodamco• Subject to French withholding tax for both French and foreign mutual funds• €3.13 per share paid at option of shareholders in shares at 7% discount or in cashfrom non SIIC (3) activities• If paid in shares:• No 3% dividend tax payable by Unibail-Rodamco• No French withholding tax applicable• If paid in cash:• 3% dividend tax payable by Unibail-Rodamco• No French withholding tax applicable• Important: withholding tax historically paid by non French mutual funds (OPCVM) no longer applies todividend from non SIIC activities• Selection of Amsterdam as market of reference