Klépierre, the European leader in shopping malls, today released its business update for the first nine months of 2021.

The main highlights include:

• Guidance for full-year 2021 net current cash flow per share revised upwards by 20 cents to at least €2.00, assuming no severe restrictions through to the end of the year, thanks to:
  Sound shopping centers reopening
  o Strong recovery in retailer sales over the third quarter, up 6% compared to 2020 and almost equaling pre-pandemic levels (94% of 2019 levels)
  o Dynamic leasing activity with 1,061 leases signed over 9 months, with a -0.6% reversion
  Rent collection close to pre-pandemic level
  o Rent collection for the third quarter to reach at least 93% (90% as of October 20, 2021)
  o Collection of 2020 rents and H1 2021 rents higher than forecast
  o Q3 shopping centers net rental income up 11.1% versus Q3 2020
• Net debt down €583 million compared to June 30, 2021, thanks to €502 million worth of disposals
• Klépierre ranked once again #1 worldwide by GRESB and upgraded to “AAA” by MSCI for its sustainability performance