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PRESS RELEASE BUSINESS REVIEW FOR THE FIRST NINE MONTHS OF 2021 Paris October 22 , 2021 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 ( 2 ) 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 。 Strong recovery in retailer sales ( 3 ) over the third quarter , up 6 % compared to 2020 and almost equaling pre - pandemic levels ( 94 % of 2019 levels ) 。 Dynamic leasing activity with 1,061 leases signed over 9 months , with a -0.6 % reversion Rent collection close to pre - pandemic level • о Rent collection ( 4 ) for the third quarter to reach at least 93 % ( 90 % as of October 20 , 2021 ) Collection of 2020 rents and H1 2021 rents higher than forecast ○ 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 Jean - Marc Jestin , Chairman of the Executive Board , said , “ As already experienced in 2020 , once restrictions are lifted , footfall and sales are rebounding fast as our shoppers are thrilled to be visiting Klépierre venues and enjoy the unique experience offered by our malls . Our retailers have also resumed their expansion plans which translated into a dynamic leasing activity . Hence , our business is normalizing swiftly at near - pre - pandemic levels in terms of rent collection and retailer sales . Over the first nine months , we also strengthened our financial position : we limited capital expenditure , paid a € 285 million dividend and reduced our debt significantly thanks to more than € 500 million worth of disposals closed . Lastly , Klépierre's worldwide leadership in ESG has been commended once again by GRESB and MSCI , who have recognized our strenuous efforts to tackle environmental , societal and social challenges . I am sincerely thankful to all my colleagues for all these great achievements . Supported by the ongoing recovery and higher - than - anticipated rent collection , we have raised our full - year 2021 guidance for net current cash flow by 20 cents to at least € 2.00 per share , assuming no severe restrictions are implemented through to the end of the year . " K KLEPIERRE