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CARMILA PRESS RELEASE Boulogne - Billancourt 22 April 2021 FIRST - QUARTER 2021 FINANCIAL INFORMATION Numerous restrictions and closures affected business in Carmila shopping centres in France , Spain and Italy ; stores in Carmila centres were closed for an overall average of 1.1 months during the quarter • Gross rental income fell by 6.6 % • Leasing activity remained robust during first - quarter 2021 • Solid financial position with successful bond issue extending average debt maturity Marie Cheval , Chair and Chief Executive Officer of Carmila commented : " The first quarter of 2021 was shaped by numerous government - enforced restrictions and closures . However , the commitment of our teams and the strengths of our centres ensured that leasing activity remained dynamic . Carmila is standing by to support retailers and to prepare for a highly - anticipated reopening . " 1. Store closures and opening restrictions severely disrupted business at Carmila centres During the first - quarter of 2021 , government measures to tackle the Covid - 19 pandemic led to store closures and restrictions in France , Spain and Italy . The following measures are applicable to Carmila's 215 sites : In France : government ordered additional restrictions were implemented country wide . As a result , shopping centres larger than 20,000 sq.m. were closed from 31 January 2021 , those larger than 10,000 sq.m. from 6 March 2021 , and store openings were restricted to essential businesses only from 3 April 2021 . In Spain : shopping centres remained open ( except in Catalonia ) with travel restrictions and curfews in place , depending on the region . In Catalonia , a decree led to the closure of seven shopping centres during January and February 2021 ( excluding essential businesses ) . In Italy : all shopping centres have been closed on weekends since 24 October 2020. As of 15 March 2021 , seven out of eight shopping centres were closed ( excluding essential businesses ) . Closure periods were therefore longer overall than those imposed on Carmila shopping centres in the first quarter of 2020. In total , over the first quarter of 2021 , shops in Carmila centres were closed for the equivalent of 1.1 months ' weighted average rents ( 1.3 months in France , 0.7 months in Spain and 0.9 months in Italy ) , compared to 0.5 months in the first quarter of 2020 . To date , shopping centres in France are closed or restricted to essential businesses only . In Spain , all shopping centres are open , with restrictions on opening hours in certain regions . In Italy , shopping centres are closed on weekends ( excluding essential businesses ) . In the Group's three countries , closed shops in Carmila centres represent 63.2 % of the total rental base . Changes in footfall and retailers sales were severely impacted by health measures taken in the first quarter of 2021 and do not provide meaningful comparisons . Visit our website atwww.carmila.com in 1