GECINA - REFERENCE DOCUMENT 2017

PROPERTY HOLDING APPRAISAL BY BUSINESS

BREAKDOWN OF RENTAL REVENUES BY BUSINESS

GEOGRAPHIC BREAKDOWN OF RENTAL REVENUES

4 % Other

1 % Other

6 % Other regions

22 % Residential

16 % Residential

39 % Paris Region

55 % Paris

80 % Offices

77 % Offices

NET RECURRING INCOME – GROUP SHARE (€ million - December)

LTV RATIO (December) 4,786 4,819 5,174 5,017 4,429 4,246 3,881

4,717 3,582 8,331

349.2 347.4 363.5

45.7% 44.3%

42.6%

39.7%

42.4%

41.7%

38.7% 36.7% 36.4%

29.4%

Dec. 08 Dec. 09 Dec. 10 Dec. 11 Dec. 12 Dec. 13 Dec. 14 Dec. 15 Dec. 16 Dec. 17 LTV (%) Net debt (€ million)

2015 2016 2017

EPRA NNNAV PER SHARE (€ - December)

SCHEDULE OF AUTHORIZED FINANCING (INCLUDING UNUSED CREDIT LINES AND EXCLUDING COMMERCIAL PAPER) (€ million)

119.5* 128.7* 152.9

110

911

1,401

1,503 1,220 5,327

2015 2016 2017 *Post adjustment of preferential subscription rights distribution linked to the share capital increase of August 2017 (adjustment factor of 0.97391)

2018 2019 2020 2021 2022 > 5 years

OFFICE BUILDINGS THAT PROMOTE THE WELL-BEING AND PRODUCTIVITY OF THE OCCUPANTS

GREENIFICATION OF PLOTS IN THE PROPERTY PORTFOLIO IN BARE LAND EQUIVALENTS

CHANGE IN THE CARBON PERFORMANCE OF THE PROPERTY PORTFOLIO (ALL USES INCLUDED) COMPARED TO 2008

50 %

47 %

25 %

39 %

63% 71% 81%

75%

0%

-19%

-24%

-35%

-31%

32 %

-36%

-36%

2008

2016

2017

2020 target

2014

2016

2017 2020 target

2013 2016 2017 2020 target

Change of office GHG emissions (in kg CO 2 /sq.m/year) Change of residential property GHG emissions (in kg CO 2 /sq.m/year) 2020 target set for the entire scope (Gecina and Eurosic assets): -36% related to residential assets -35% related to office assets.

2020 Target set for the entire scope (Gecina and Eurosic assets) % of greening of plots in bare land equivalents (excluding assets being sold and away from Paris center)

2020 Target set for the entire scope (Gecina and Eurosic assets)

5

GECINA - REFERENCE DOCUMENT 2017