Klépierre — Capital/Financing Update 2019

Jan 31, 2019

INFORMATION RELATED TO THE LIQUIDITY CONTRACT

Paris - January 31, 2019

TERMINATION OF THE CURRENT LIQUIDITY CONTRACT

Klépierre today terminated the liquidity contract entrusted on 20 April 2004 to Exane BNP Paribas to change provider.

• As at 31 January 2019, the position of the liquidity account was as follows:
• $\bullet$ 1.768.835.76 euros in cash; and
• 307,923 Klépierre shares.

Half-yearly statements of the execution of the liquidity contract with Exane BNP Paribas until 31 December 2018 are available on the Klépierre website: www.klepierre.com.

IMPLEMENTATION OF A NEW LIQUIDITY CONTRACT

Main features of the contract

As from 1 February 2019 and for a period of one year automatically renewable. Klépierre requested Rothschild Martin Maurel to implement a liquidity contract in accordance with the provisions of the legal framework in force, and more particularly with the provisions of Regulation (EU) 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (MAR), Commission Delegated Regulation (EU) 2016/908 of 26 February 2016, Articles L. 225-209 et seq. of the French Commercial Code and Decision 2018-01 of the Autorité des Marchés Financiers (AMF) of 2 July 2018 and any other provisions referred to therein.

The purpose of this contract is for Rothschild Martin Maurel to optimize the liquidity of the Klépierre shares (ISIN FR0000121964) on Euronext Paris.

For the implementation of this contract, the following resources were allocated to the liquidity account:

• $\bullet$ 1.768.835.76 euros in cash: and
• 307,923 Klépierre shares.

Suspension and termination of the contract

This liquidity contract will be suspended as follows:

• If the conditions set out in Article 5 of the aforementioned AMF Decision are met: or
• At Klépierre's request for technical reasons, such as the counting of shares with voting rights before a general meeting or the counting of shares giving entitlement to dividends before the ex-date, for a period specified by Klépierre.

The contract may be terminated at any time and without notice by Klépierre, or by Rothschild Martin Maurel with a one month's notice.

ABOUT KLÉPIERRE

Klépierre, the pan-European leader in shopping malls, combines development, property and asset management skills. The company's portfolio is valued at €24.6 billion at June 30, 2018 and comprises large shopping centers in 16 countries in Continental Europe which together host 1.1 billion visitors per year. Klépierre holds a controlling stake in Steen & Strøm (56.1%), Scandinavia's number one shopping conter owner and manager. Klépierre is a French REIT (SIIC) listed on Euronext Paris and included in the CAC Next 20, EPRA Euro Zone
and GPR 250 indexes. It is also included in ethical indexes, such as DJSI World and Europ Euronext Vigeo France 20 and World 120, and figures in CDP's "A-list". These distinctions underscore the Group's commitment to a proactive sustainable development policy and its global leadership in the fight against climate change.

For more information, please visit the newsroom on our website: www.klepierre.com $\bigcirc$ in $\bigcirc$

INVESTOR RELATIONS

Hubert d'AILLIÈRES +33 (0)1 40 67 51 37 - hubert.daillieres@klepierre.com Mengxing ZHANG +33 (0)1 40 67 53 05 - mengxing.zhang@klepierre.com Paul LOGEROT +33 (0)1 40 67 53 02 - paul.logerot@klepierre.com

MEDIA CONTACTS

Lorie LICHTLEN / Camille PETIT / Stephanie LASNEL, Burson-Cohn & Wolfe (BCW) +33 (0)1 56 03 12 12 - klepierre.media@bcw-global.com