Gecina

Capital/Financing Update • Dec 22, 2016

Paris, December 22, 2016

Moody's upgrades Gecina's rating to A3 rating

Moody's has upgraded its rating for Gecina from Baa1 (outlook stable) to A3 (outlook stable).

The rating agency highlighted the significant improvement in the Group's financial ratios, particularly its EBITDA interest coverage and loan-to-value ratios. It also highlighted the quality of the Group's property portfolio, its effective financial management and the Paris rental market's positive trends.

For reference, on October 25, Standard and Poor's also upgraded the Group's rating, from BBB+ / outlook stable to BBB+ / outlook positive.

Gecina, a leading real estate group leading real estate group

Gecina owns, manages and develops property holdings worth 11.7 billion euros at July 1, 2016, with 97% located in the Paris Region. The Group is building its business around France's leading office portfolio and a diversification division with residential assets and student residences. These data exclude the healthcare portfolio, which was sold for 1.35 billion euros on July 1, 2016. Gecina has put sustainable innovation at the heart of its strategy to create value, anticipate its customers' expectations and invest while respecting the environment, thanks to the dedication and expertise of its staff.

Gecina is a French real estate investment trust (SIIC) listed on Euronext Paris, and is part of the SBF 120, Euronext 100, FTSE4Good, DJSI Europe and World, Stoxx Global ESG Leaders and Vigeo indices. In line with its commitments to the community, Gecina has created a company foundation, which is focused on protecting the environment and supporting all forms of disability.

www.gecina.fr

GECINA CONTACTS CONTACTS

Financial communications Press relations Press relations Samuel Henry-Diesbach Brigitte Cachon Tel: +33 (0)1 40 40 52 22 Tel: +33 (0)1 40 40 62 45

Virginie Sterling Armelle Miclo virginiesterling@gecina.fr armellemiclo@gecina.fr

samuelhenry-diesbach@gecina.fr brigittecachon@gecina.fr

Tel: +33 (0)1 40 40 62 48 Tel: +33 (0)1 40 40 51 98