2012 Full-year results: Presentation - Unibail-Rodamco

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•Unibail-Rodamco’s consolidated Net Rental Income (NRI) from the offices portfolio came to €172.6 Mn in 2012, a decrease of -€11.9 Mnor -6.5%. This decrease is driven by:• -€6.2 Mn due to disposals completed in 2011 in France (3-5 Malesherbes), Sweden and The Netherlands;• -€6.3 Mn due to buildings currently under refurbishment (mainly 2-8 Ancelle and 34-36 Louvre in France and Plaza in The Netherlands);• -€3.9 Mn from buildings delivered in January 2012 in France and not yet fully let (renovated buildings such as Nouvel Air (former Issy-Guynemer) inParis and 80 Wilson in La Défense) for which the Group had rental income in 2011;• -€4.6 Mn mainly due to the one-off impact in 2011 of a reversal of provision for litigation and currency effects;• +€9.1 Mn or +6.9% on a like-for-like basis (1) compared to 2011. In France, the NRI grew by +8.2% on a like-for-like (1) basis, including an impactof indexation of €4.1 Mn.•In France, despite a challenging environment, 31,375 m² were let in 2012. Leases were signed on Tour Ariane and 70-80 Wilson in La Défenseas well as on Le Sextant, Capital 8 and Nouvel Air in Paris and on 34-36 Louvre, fully pre-let in 2012.•The financial vacancy (2) in France stood at 10.4% as the end of December 2012, vs 6.5% as of December 2011. 49% of the vacancyin the French office portfolio comes from spaces renovated as new (3) in 2012, including renovated m² of Nouvel Air and 80 Wilson.These renovated areas respectively obtained BREEAM Excellent and HQE environmental certifications (3) .(1) Net Rental Income (NRI) like-for-like growth excluding acquisitions, divestments, transfers to and from pipeline (extensions, brownfields) and currency exchangerate differences in the periods analysed(2) EPRA vacancy rate = Estimated Rental Value (ERV) of vacant spaces divided by ERV of total surfaces(3) Including renovated as new vacant spaces of Nouvel Air (formerly Issy Guynemer, BREEAM Excellent certification) and 80 Wilson (HQE - Haute QualitéEnvironnementale - High Environmental Quality certification)Figures may not add up due to rounding
2-8 ANCELLE AND 34-36 LOUVRE OFFICES FULLY PRE-LET2-8 Ancelle, Neuilly-sur-Seine34-36 Louvre, ParisOpening: H1-2014GLA: 16,600 m²TIC of the renovation: €71 MnOpening: H1-2013GLA: 3,474 m²TIC of the renovation: €9 Mn10
Page 1 and 2: Re-inventing the customer experienc
Page 3 and 4: TABLE OF CONTENTS• 2012 Full-Year
Page 5 and 6: 22012 FULL-YEAR RESULTS AND VALUATI
Page 7: STRONGOPERATING PERFORMANCELa Maqui
Page 10 and 11: •Total consolidated Net Rental In
Page 12 and 13: (1) Rotation rate = (number of re-l
Page 14 and 15: •Tenant sales in Unibail-Rodamco
Page 16 and 17: (1) Footfall performance as of Dece
Page 18 and 19: •Unibail-Rodamco’s Spanish shop
Page 22 and 23: •2-8 Ancelle is a 16,600 m² GLA
Page 24 and 25: •The 2012 activity level was larg
Page 27 and 28: 13NAV GROWTH DRIVEN BY RENTAL GROWT
Page 29 and 30: 14DECREASE IN INTEREST RATES WEIGHS
Page 31 and 32: 15LARGE SHOPPING CENTRE VALUES CONT
Page 33: ROBUST BALANCE SHEETFisketorvet, Co
Page 36 and 37: •The financial ratios of the Grou
Page 38 and 39: •Medium to long-term financing tr
Page 40 and 41: (1) Average spread over mid-swap ra
Page 43 and 44: 21ACTIVE AND DISCIPLINED VALUE CREA
Page 45: RE-INVENTINGTHE CUSTOMER EXPERIENCE
Page 49 and 50: 24FOCUS ON RE-INVENTING THE CUSTOME
Page 51 and 52: 254 STAR LABEL: A UNIQUE QUALITY RE
Page 53 and 54: 26INTRODUCTION OF PREMIUM RETAILERS
Page 55 and 56: 27BROADENING THE RETAIL OFFERPrice
Page 57 and 58: ICONIC SHOP FRONTS: NEW DESIGN REFE
Page 59 and 60: 29DINING EXPERIENCE: CREATING NEW E
Page 61: 30DINING EXPERIENCE: A RECIPE TO IN
Page 64 and 65: •The Dining Experience concept wa
Page 66 and 67: •In 2012 the Group considerably a
Page 68 and 69: •So Ouest is a 48,434 m² GLA sho
Page 70 and 71:
•Since opening, So Ouest proves t
Page 72 and 73:
•Acquired in October 2011, Splau
Page 74 and 75:
•Unibail-Rodamco has two main lon
Page 76 and 77:
•At the end of 2012, 43% of the G
Page 79 and 80:
39€7 BN OF PRIME QUALITY DEVELOPM
Page 81 and 82:
3 SHOPPING CENTRES SUCCESSFULLY OPE
Page 83 and 84:
412013-2015: MOMENTUM FOR NEW DELIV
Page 85 and 86:
STRONG GROWTH AHEADCENTRUM CERNY MO
Page 87 and 88:
STRONG GROWTH AHEADALMA EXTENSION,
Page 89 and 90:
STRONG GROWTH AHEADTOISON D’OR EX
Page 91 and 92:
42STRONG GROWTH AHEADCentrum Cerny
Page 93 and 94:
STRONG GROWTH AHEADAÉROVILLE, PARI
Page 95 and 96:
CAPTURING LANDMARK DEVELOPMENT PROJ
Page 97 and 98:
45CAPTURING LANDMARK DEVELOPMENT PR
Page 99 and 100:
46BUILDING NEW GENERATION OFFICE BU
Page 101:
OUTLOOKAND DISTRIBUTIONArkadia, War
Page 104 and 105:
•For 2013, the Group remains posi
Page 106:
•The Group will propose to the An
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2012 Full-year results: Presentation - Unibail-Rodamco

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