Altarea

Regulatory Filings • Mar 13, 2013

PRESS RELEASE

March 13, 2013

ALTAREA COGEDIM AT MIPIM 2013 (Stand 30.32):

WITH THE SALE OF TWO OFFICE PROPERTY COMPLEXES FOR €200 MILLION, ALTAREA COGEDIM DEMONSTRATES THE PERFORMANCE OF ITS BUSINESS MODEL FOR COMMERCIAL REAL ESTATE

Altarea Cogedim Entreprise, an overall commercial property operator with a presence both in the Paris Region and other French regions, will be at MIPIM 2013 to present its projects in the development and marketing phases.

As 2013 gets underway, Altarea Cogedim Entreprise has already sold two sizable commercial property complexes for a total of €200 million.

• In the first operation, Altarea Cogedim sold the Okabé office property complex to Primonial Reim. The Okabé business center, developed over 247,500 ft² (23,000 m²) and delivered by Altarea Cogedim in 2010, is located on Avenue de Fontainebleau in Kremlin Bicêtre (94), directly south of Porte d'Italie.
• Furthermore, Altarea Cogedim Entreprise has signed an off-plan agreement with Assurances du Crédit Mutuel for the head office of Mercedes-Benz France. This office complex was designed by the UrbanAct architectural firm (Alexandre Bouton) and is part of an ambitious project led by Mercedes-Benz France, the French subsidiary of Daimler AG. The company wanted to move its French head office on to a single site, thus bringing together two entities: the head office of Mercedes-Benz France, which includes Mercedes-Benz Academy, and Mercedes-Benz France Financial Services France.

Commercial real estate: a comprehensive approach in a persistently difficult market

Despite an uncertain economic context, Altarea Cogedim Entreprise delivered nearly 140,000 ft² (13,000 m²) in the Paris Region in 2012, and is currently developing more than 5,380,000 ft² (500,000 m²) of space for mixed-use programs and head offices in the Paris Region and other French regions. These projects were carried out for private occupants, the hotel industry, or in the context of service contracts.

New projects and construction:

• Mercedes-Benz Campus in France (78). In partnership with CFC Développement, Altarea Cogedim Entreprise was selected to design the campus of Mercedes-Benz France in Saint-Quentin-en-Yvelines. This new complex is in line with international standards for office property, meets the needs of a major company in terms of efficiency and flexibility and is eligible for HQE® and BREEAM® certification, as well as the BBC Effinergie® label. Delivery is slated for late 2013.
• Mutuelle des Motards head office (34). As the winner of a development competition, Altarea Cogedim was selected to build the new head office of the Mutuelle des Motards insurance company in the urban development zone (zone d'aménagement concerté or ZAC) around the

Montpellier Airport. To design a head office that meet the needs and expectations of employees and create a unique and iconic project that would appeal to all member-policyholders, Altarea Cogedim called upon the expertise of Jacques Ferrier. Delivery of this project featuring 96,875 ft² (9,000 m²) of floor space is scheduled for 2015.

• Cenote Resort - Cap d'Ail (06). Altarea Cogedim called upon the expertise of Jean-Michel Wilmotte to build a 4-star high-end Westin hotel featuring 133 guest rooms, as well as a restaurant, bar, fitness center and spa. Located just outside of Monaco, Cenote Resort will consist of an HQE® -certified hotel (HQE Certification, 2011 Hotellerie criteria). The project will be delivered in 2016.
• Technopole de la Mer (83). Altarea Cogedim (in partnership with Icade) was selected by the Board of Directors of the public company TPM Aménagement to design and build commercial property covering more than 538,000 ft² (50,000 m²) within the land base located in the town of Ollioules, on the western edge of the greater Toulon area.

Deliveries:

• Pomona head office – Antony (92). In late 2012, Altarea Cogedim delivered the head office of Pomona in Antony. Pomona specializes in B2B distribution of agro-food products. This program included development of 135,500 ft² (12,600 m²) of useful surface area for offices and a restaurant, along with a 330-space indoor parking lot. The development is targeting HQE® and BBC Effinergie® certification.
• Radisson Blu Hotel, Nantes (44). The Radisson Blu Hotel in Nantes recently opened after 27 months of redevelopment work to transform the former Nantes Courthouse into a 4-star luxury hotel. This hotel is intended mainly for business clients. After three years of refurbishment, the building is the first hotel redevelopment project to feature NF Bâtiments Tertiaires – Démarche HQE® certification.

Ongoing projects:

• Place du Grand Ouest, Massy (91). Atlantis Place du Grand Ouest in Massy is a mixed-use project that will develop the new downtown center of Massy's Atlantis neighborhood with some 1,075,000 ft² (100,000 m²) of leasable surface area. In time, this program will become one of the most dynamic centers of southern Greater Paris. As sole developer acting as both overall project manager and minority investor, Altarea Cogedim is to build nearly 800 homes, a 150-room hotel, 550 parking spaces, a convention center with a capacity for 600 delegates, a 12-screen cinema complex, an elementary school and 86,000 ft² (8,000 m²) of local shops. Initial deliveries are slated for 2016.
• Cœur d'Orly – Orly (94). With Cœur d'Orly, Altarea Cogedim is creating the first combined ecobusiness district and living space in the southeastern Greater Paris area, connected to Orly Airport. This multifaceted program includes a first phase featuring office space, a 4-star hotel and ground-floor neighborhood shops and services. Phase two includes delivery of retail space (brand village, restaurants, etc.).
• Laennec – Paris, 7th arrondissement. In addition to developing 300 homes, Altarea Cogedim is refurbishing the historic section of the Laennec Hospital site on Rue de Sèvres in Paris' 7th arrondissement. Offices will be built for Allianz Vie and SNC Laennec Rive Gauche. This project includes 183,000 ft² (17,000 m² ) of office space and will be the first to feature HQE Rénovation certification. Construction began in 2011, and delivery is scheduled for late 2013.
• Office building on Boulevard Raspail – Paris, 6 th arrondissement. The office building located at 128/130 Boulevard Raspail, in Paris' 6 th arrondissement, marks AltaFund's first acquisition. The goal is to develop a 107,500-ft² (10,000-m²) program in keeping with the initial design, while

creating a property of exemplary environmental quality. The building aims for HQE® Excellent and BREEAM Excellent certification. BREEAM certification is a BBC Rénovation label that meets Paris Climate Plan standards. Redevelopment of the building has been entrusted to Franklin Azzi Architecture.

• Cœur de Quartier – Nanterre (93). Altarea Cogedim and Eiffage Immobilier Ile-de-France joined forces to design Cœur de Quartier in Nanterre, in partnership with the urban development agency Epadesa. The goal is to create a brand new neighborhood in line with the Terrasses district. A true mixed-use neighborhood, Cœur de Quartier combines 242,000 ft² (22,500 m²) of office space, 111,000 ft² (10,300 m²) of housing, 59,000 ft² (5,500 m²) of shops and 95,750 ft² (8,900 m²) of student and tourist accommodations.
• Hotel Intercontinental – Marseille (13). The Hôtel-Dieu Hospital in Marseille, listed in the French Supplementary Historic Monument Registry, has been transformed into a 5-star hotel. This redevelopment is yet another key initiative for the Mediterranean metropolis. The mixed-use project will feature 72,000 ft² (6,700 m² ) of homes, 194 hotel rooms, a conference center, spa and restaurant spread over 247,500 ft² (23,000 m² ) of leasable surface area.
• Aristide Building – Bagneux (92). Altarea Cogedim has just rented more than 60% of the "Aristide" office building in Bagneux. Several companies have signed long-term green leases and are now tenants of the building. By autumn 2013, nearly 700 employees will work in this 215,250 ft² (20,000-m²) HQE® -certified building.
• Landy Urban Renewal Area (ZAC) – Saint Denis (93). Altarea Cogedim is working together with Icade to develop the Landy Joint Development Zone in Saint-Denis, a building featuring bold architecture, first-rate services and HQE® certification. This program includes 226,000 ft² (21,000 m²) of office space and 8,500 ft² (800m²) of shops.
• Air Sencia - Toulouse (13). The Air Sencia project in Toulouse is organized around a landscaped island and includes six office buildings featuring 27,000 to 43,000 ft² (2,500 to 4,000 m 2 ) of leasable surface area united by a footpath and an inside road.
• Euromed Center – Marseille (13). As of the very first deliveries, Euromed Center in Marseille will stand out as a true "piece of the city" in the Mediterranean metropolis. It will be built as an economic extension of the Joliette business district with a southern flair. Euromed Center represents 753,000 ft² (70,000 m²) of space to be built, combining varied urban functions (offices, shops, hotels, restaurants, entertainment, etc.). Construction began in 2012 and the first buildings are slated for delivery in 2014.
• Diamant – Nice (06).The Diamant project is located at the northern entrance to the Nice Meridia business activity area (ZAE) in Nice. The complex features nearly 64,500 ft² (6,000 m² ) of leasable office space over nine stories, as well as a base incorporating ground-floor shops. The project will be delivered in 2014.
• Blanche Tower – Paris La Défense. Altarea Cogedim Entreprise was selected as a service provider (delegated project manager) by Perella Weinberg Partners, which bought the high-rise Tour Blanche in the Paris-La Défense business district from Chartis Europe. This assistance and advisory role entails defining, designing and developing the program. Delivery is planned for Q1 2014.

At MIPIM 2013, Altarea Cogedim will be participating in a conference on the theme:

Saint-Quentin-en-Yvelines: Pas-du-Lac, how to renew an office property neighborhood Thursday, March 14, 2013 from 11:45 am to 12:30 pm

Espace Grand Paris Région Marina Hall, Tent "Plaisance," Stand 2 on the right-hand side This conference will be attended by Jean-Frédéric Heinry, Chief Executive Officer of Altarea Cogedim Entreprise, who will present the project for the new head office of Mercedes-Benz France, currently underway in Saint-Quentin-en-Yvelines.

About Altarea Cogedim

Altarea Cogedim is a leading property group. As both a commercial land owner and developer, it operates in all three classes of property assets: retail, residential and offices. It has the know-how in each sector required to design, develop, commercialize and manage made-to-measure property products. By acquiring Rue du Commerce, a leader in e-commerce in France, Altarea Cogedim became the first multichannel property company. With operations in France, Spain and Italy, Altarea Cogedim manages a shopping center portfolio of €4 billion. Listed on section A of NYSE Euronext Paris, Altarea currently has a market capitalisation of €1.4 billion.

The Group's Sustainable Development approach: Altagreen

In 2012, Altarea Cogedim was recognized for its sustainable development approach in the Novethic ranking, a study measuring the quality of environmental performance reporting for buildings. The Group is making significant headway, tying for first place among property companies with a performance of 78% (vs. 64% in 2011), and confirming its presence among leading developers, coming in 2nd place with 67% (vs. 54% in 2011). Moreover, in 2012 the GRESB (Global Real Estate Sustainability Benchmark), the largest global ranking for assessing CSR strategies of property groups and funds, once again awarded Altarea Cogedim the highest rating, Green Star.

Contacts:

Nathalie Bardin Director of Communication +33 1 56 26 25 36 / +33 6 85 26 15 29 nbardin@altareacogedim.com

Valérie Jardat Agence Côté Jardat +33 1 41 05 94 10 / +33 6 12 05 18 35 valerie.jardat@cote-jardat.fr