2012 Full-year results: Presentation - Unibail-Rodamco

•Acquired in October 2011, Splau is a 55,100 m² GLA shopping mall located in the South of Barcelona (Spain). Opened in May 2010,Splau benefited from a significant growth potential.•Since acquisition, the Group has focused on introducing new retailers, upgrade the mall’s design to Unibail-Rodamco’s standards and re-positionthe mall as a unique shopping destination:• Re-tenanting:• Financial vacancy (1) was reduced since acquisition by -62% to 6.0% at the end of 2012;• 20 leases were signed since acquisition, notably with Desigual, Yves Rocher and Imaginarium.• Re-designing:• €9 Mn invested since 2011 in re-designing the mall with new rest areas, a new fountain and the introduction of iconic shop fronts.• Re-marketing:• A new marketing campaign was launched in order to position the mall as the leading shopping destination of the South of Barcelona;• Unique events were organised: Lazy Town, the visit of Mario Casas, VIP zone;• 4 Star services were introduced such as new rest areas, a car wash services, gift cards, a children play area, etc.•Thanks to all these initiatives, significant value was created since acquisition:• Tenant sales (2) increased +10.6% in 2012 vs 2011;• Footfall (2) grew +13.5% in 2012 to 9.3 Mn visits.•With the 3 rd largest cinema in Spain (3) and its proximity with the Espanyol de Barcelona football club stadium, Splau will capitalise on its existingleisure offer to introduce the Dining Experience in 2013.(1) EPRA vacancy rate = ERV (Estimated Rental Value) of vacant spaces divided by ERV of total surfaces(2) Tenant sales and footfall performance as of December 2012 (year-on-year evolution)(3) In terms of 2012 turnover. Source: Rentrak Corporation