2012 Full-year results: Presentation - Unibail-Rodamco

•On January 15, 2013, Unibail-Rodamco announced its partnership with SOCRI, a family owned shopping centre and hotel developer and operator,to develop the new generation open air mall Polygone Riviera.•Located in Cagnes-sur-Mer on the French Riviera between Cannes and Nice, Polygone Riviera will bring together shopping, leisure and artin a unique Mediterranean atmosphere designed by a team of renowned architects, under the direction of José Ignacio Galán Martinez (architectof La Maquinista, Barcelona).•Expected to open in H2-2015, the 71,474 m² GLA shopping mall will offer a unique line up of shopping and leisure with 180 shops, one cinema,one casino and 3,000 car parks.•Opening in H2-2015, the catchment area of Polygone Riviera includes 1.1 Mn inhabitants with above average wealth.•The shopping centre will enjoy Unibail-Rodamco’s highest quality standards such as the 4 Star Label and the Dining Experience. Its environmentalperformance will be on par with the international standards of BREEAM.•In this transaction Unibail-Rodamco has:• Acquired majority stake of 50.01%;• Obtained a call option to acquire 29.99% (to be exercised from two years after opening of Polygone Riviera);• Granted SOCRI a put option for 29.99% (exercisable up to two years after opening).•Unibail-Rodamco’s target yield on cost on this project is 8%. The expected total investment cost (1) is €386 Mn.(1) TIC = Total Investment Cost including Unibail-Rodamco’s acquisition of the 50.01% stake