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Strong 2025 results. Confidence in 2026, with growth drivers intact Back to the summary 2025 Full-Year Earnings – February 19, 2026
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2025 Full-Year Earnings – February 19, 2026 Disclaimer 2 This document was prepared by Klépierre S.A. (the “Company”) solely for the purpose of presenting Klépierre’s 2025 full-year earnings released on February 19, 2026. This document is not to be reproduced or distributed, in whole or in part, by any person other than the Company. The Company excludes all liability for the use of these materials by any third party. The information contained in this document has not been subject to independent verification and no representation, warranty or undertaking, express or implied, is made as to, and no reliance may be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither the Company nor its corporate officers or employees shall be held liable for any loss arising from any use of this document or its contents or otherwise arising in connection with this document. This presentation contains certain statements of future expectations or forward-looking statements. Although Klépierre believes its expectations are based on reasonable assumptions, these forward- looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated in these forward-looking statements. For a detailed description of these risks and uncertainties, please refer to the “Risk, risk management and internal control” section of Klépierre’s Universal Registration Document. Subject to regulatory requirements, Klépierre does not undertake to publicly update or revise any of these forward- looking statements. In the event of any discrepancies between the information contained in this document and public documents, the latter shall prevail. This document is not an offer or an invitation to sell or exchange securities, or a recommendation to subscribe, buy or sell the Company’s securities. Distribution of this document may be restricted in certain countries by legislation or regulations. As a result, any person who comes into possession of this document should familiarize themselves and comply with such restrictions. To the extent permitted by applicable law, the Company excludes all liability and makes no representation regarding the violation of any such restrictions by any person.
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2025 Full-Year Earnings – February 19, 2026 Table of contents 3 01 An outstanding track record 2026 Guidance06 04 2026 Perspectives 2025: another year of robust performance02 A portfolio built for durable value creation 03 05 Operating KPIs and sector-leading credit metrics
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2025 Full-Year Earnings – February 19, 2026 An outstanding track record 01 2025 Full-Year Earnings – February 19, 2026 4
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2025 Full-Year Earnings – February 19, 2026 The best listed European retail portfolio 5(1) EBITDA on a total share basis, including the attributable portion of equity investees’ EBITDA Net Rental Income EBITDA(1) NCCF per share Over the last three years (2022-2025) 2025 Full-Year Earnings – February 19, 2026 5
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2025 Full-Year Earnings – February 19, 2026 A transformed portfolio generating the greatest FFO growth 6 (1) Sample includes companies with a market capitalization exceeding €1 billion (2) Cumulated disposals between 2020 and 2025 as a % of latest Gross Asset value Net buyer Net seller Listed retail peer #1 Listed retail peer #2 Cumulated FFO growth 2022-2025(1) Asset disposals net of acquisitions(2) Listed retail peer #3 Listed retail peer #4 Source: Bloomberg consensus, Company data Bubble size by market capitalization -10% -5% 0% 5% 10% 15% 20% 25% 30% -10% -5% 0% 5% 10% 15% 20%
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2025 Full-Year Earnings – February 19, 2026 7 Klépierre remains the stand-out Klépierre TOP 20 EPRA Eurostoxx 600 +1% +5% (1) EPRA Nareit developed Europe - Company data and Bloomberg consensus figures on a weighted average basis, as of February 17, 2026 (2) Market-capitalization-weighted EPS growth, compiled by FactSet, as of February 17, 2026 (1) (2) Adjusted EPS growth over 2022-25e
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2025 Full-Year Earnings – February 19, 2026 We produced NTA growth significantly ahead of peers 8 -10% -5% 0% 5% 10% 15% 20% 25% -10% -5% 0% 5% 10% 15% 20% Listed retail peer #1 Listed retail peer #2 Listed retail peer #3 Cumulated growth in NTA/share 2023-2025(1) Asset disposals net of acquisitions(2) Source: Bloomberg consensus, Company data Net buyer Net seller Listed retail peer #4 (1) Sample includes companies with a market capitalization exceeding €1 billion (2) Cumulated disposals between 2020 and 2025 as a % of latest Gross Asset value Source: Bloomberg consensus, Company data Bubble size by market capitalization
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2025 Full-Year Earnings – February 19, 2026 We delivered outstanding returns to our shareholders 9 2023-25 Total Accounting Returns(1) -19% 6% 13% 16% 20% 31% 0 1 2 3 4 5 6 7 Klépierre Listed retail peer #4 Listed retail peer #3 Listed retail peer #2 Listed retail peer #1 Average EPRA top 20(2) Source: Bloomberg consensus, Company data Bubble size by market capitalization (1) Sample includes companies with a market capitalization exceeding €1 billion (2) Average Top 20 EPRA Nareit developed Europe, weighted per market capitalization, as of February 17, 2026
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2025 Full-Year Earnings – February 19, 2026 2025: another year of robust performance 02 2025 Full-Year Earnings – February 19, 2026 10
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2025 Full-Year Earnings – February 19, 2026 Continued market share gains fueled by strong retailer sales outperformance 11 +3.4% Strong outperformance, with retailer sales growth doubling national sales indices(1) Retailer sales 2025 like-for-like change (1) Comparison as of end November 2025. Weighted average of latest national retail sales indices: Banque de France; Istituto Nazionale di Statistica; Instituto Nacional de Estadística; Statistikmyndigheten SCB; Statistisk Sentralbyra; Danmarks Statistik; Centraal Bureau voor de Statistiek; Statistisches Bundesamt; Central Statistical Office of Poland (GUS); Czech Statistical Office; Turkish Statistical Institute
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2025 Full-Year Earnings – February 19, 2026 Operating KPIs: further improvement 12 Rental uplift On renewals and relettings Occupancy Reaching 97.1% OCR Improvement in occupancy cost ratio to 12.5% Mall Income Growth year-on-year 2025 Full-Year Earnings – February 19, 2026
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2025 Full-Year Earnings – February 19, 2026 Our results beat guidance 13 Net Current Cash Flow per share shar vs. 2024 EBITDA(1) 87.3% EBITDA margin +5.5% vs. 2024 Net Rental Income +4.5% on a like- for-like basis +5.1% €2.72 up +5% vs. 2024 NCCF/share and above initial guidance of €2.60- 2.65 13 (+50 bps over 12 months ) (1) EBITDA on a total share basis, including the attributable portion of equity investees’ EBITDA
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2025 Full-Year Earnings – February 19, 2026 NAV up 9% again in 2025 14 Total Accounting Return(2) +31% over the last two years NAV(1) per share +19% over the last two years 12/31/2024 € 32.8 € 35.9 12/31/2025 (1) EPRA NTA (2) NAV growth + dividend
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2025 Full-Year Earnings – February 19, 2026 We deliver consistent dividend growth 15 +3% €1.90 / share 6% Proposed cash dividend per share for 2025 2025 dividend growth Year-on-year Spot dividend yield as of February 17, 2026 € 1.75 € 1.80 € 1.85 2022 2023 2024 2025 (1) To be paid in two equal installments on March 10, 2026, and July 7, 2026
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2025 Full-Year Earnings – February 19, 2026 A portfolio built for durable value creation 03 2025 Full-Year Earnings – February 19, 2026 16
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2025 Full-Year Earnings – February 19, 2026 17 Two established growth drivers Organic drivers Accretive capital allocation Rental uplift Mall income Extensions Acquisitions 17
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2025 Full-Year Earnings – February 19, 2026 One and only target: build the highest cash-generating portfolio and maximize long term value for our shareholders 18 Cost efficient Competitive OCRs compared with destination-mall peers to maximize rental uplift Right-sized for their catchment area Assets designed to fit customer aspirations providing flexibility and triggering higher leasing tension Stringent Capex Disciplined investments to create a stellar shopping experience to optimize cash flow 2025 Full-Year Earnings – February 19, 2026
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2025 Full-Year Earnings – February 19, 2026 Our malls boast best-in-class occupancy levels 19 Klépierre’s occupancy rate 95.8% 96.0% 96.5% 2022 2023 2024 2025
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2025 Full-Year Earnings – February 19, 2026 20 Our malls attract category killers No new prime mall supply drives scarcity Category killers upsizing to bigger stores Rise of omnichannel is curating the retail landscape Top performing malls are those able to adapt to the consumers’ expectations
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2025 Full-Year Earnings – February 19, 2026 21 Sharp focus on brands displaying the highest sales densities Improve the customers’ experience Roll-out innovative retail and experiential offering Retenanting to higher sales density retailers Leading to lower OCRs Optimize our portfolio In accompanying the extension of category killers Change in retail mix over the last years (share of total retailer sales) 39% 11%12% 20% 11% 7% 35% 15%15% 15% 12% 8% Fashion Sports & Accessories Groceries, Entertainment & Fitness Health & Beauty Restaurant & Beverage Electronics & Home Equipment 2025 Full-Year Earnings – February 19, 2026 2019: inner ring 2025: outer ring
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2025 Full-Year Earnings – February 19, 2026 Retailer sales CAGR since 2019 HEALTH & BEAUTY Retailer sales CAGR since 2019 SPORTS & ACCESSORIES Sustained high growth for Sports & Accessories and Health & Beauty 2025 Full-Year Earnings – February 19, 2026 22
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2025 Full-Year Earnings – February 19, 2026 Magnetic power of dining in retail destinations 23 Carry 285% more transactions Visit shopping centers twice as often per year Spend 40% more Stay longer in the mall RESTAURANT & BEVERAGE Source: Coniq - Why Food & Beverage is a Game Changer for Shopping Destination (July 2025) How Restaurant & Beverage shapes shoppers’ engagement in malls 2025 Full-Year Earnings – February 19, 2026 Retailer sales CAGR since 2019
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2025 Full-Year Earnings – February 19, 2026 Improving OCR 12.9% 12.8% 12.6% 12.5% 2022 2023 2024 2025 12.9% 12.8% 12.6% 12.5% 2022 2023 2024 2025 10.6% 12.5% 15.9% Listed convenience peers Klépierre Listed destination peers(1) Klépierre’s closest peers display at least 300 basis points higher OCRs Destination mall players (2) 2025 Full-Year Earnings – February 19, 2026 24 (1) Companies’ latest disclosure (2) Companies, FitchRatings’ latest disclosure Continued increase in sales density maintains healthy occupancy cost ratio levels
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2025 Full-Year Earnings – February 19, 2026 Low OCRs create massive potential for continued rental uplift 25 While many retailers are in expansion mode as consumer demand remains healthy, destination malls benefit from supply scarcity, intensifying leasing tension for quality space. Evolution of rental upliftEvolution of physical retail sales and shopping centre stock across 17 key European markets Source: JLL 2025 2024 2023 2022 +4.6% +4.0% +4.4% +4.1% Physical retail sales (nominal) Shopping centre stock Physical retail sales (EUR billion) 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 160 140 120 100 80 60 40 20 0 Forecast 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Shopping centre stock (sqm GLA million)
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2025 Full-Year Earnings – February 19, 2026 Specialty Leasing Growing demand for high quality traffic to engage directly with consumers through strategic promotional initiatives Expanding screen network by adopting a hybrid retail media modelRetail Media Car park and EV charging space monetizationMobility of the Group’s total net rental income 26 Mall income: a significant growth opportunity CAGR since 2022 2025 Full-Year Earnings – February 19, 2026
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2025 Full-Year Earnings – February 19, 2026 27 Retail Media & Specialty Leasing: a unified ecosystem serving our full client base To leverage our 720 million highly qualified annual footfall Address our entire client spectrum • Omnichannel banners launching large scale promotional campaigns • Streaming platforms to roll-out wide-reaching campaigns • Direct-to-consumer brands evaluating their market fit Provide a full suite of customized tools • Static media out-of-home (OOH) solutions • Digital formats (DOOH) • Co-marketing initiatives (social media, CRM, etc.) • Mall domination campaigns combining all promotional channels 2025 Full-Year Earnings – February 19, 2026
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2025 Full-Year Earnings – February 19, 2026 Specialty Leasing – a powerful growth lever High-Quality Footfall Immediate brand exposure to a unique purchase-ready mall traffic Powerful Brand Visibility High-impact presence reinforcing local as well as international brands’ legitimacy and trust Direct Customer Engagement Real-time feedback to test new categories and assess store potential Omnichannel Acceleration Physical presence boosts online sales in catchment area Double-digit high-margin income growth with minimal capex requirements 2025 Full-Year Earnings – February 19, 2026 28
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2025 Full-Year Earnings – February 19, 2026 29 Still nascent Retail Media with room to scale and optimize potential Grow digital inventory by 30% by 2030 and modernize devices Recent operating model shift from a legacy outsourced to a hybrid model, to boost coverage and better leverage our relationships with retailers Significant incremental revenue opportunity 2025 Full-Year Earnings – February 19, 2026
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2025 Full-Year Earnings – February 19, 2026 Roll-out of car park monetization Elevated scarcity in city center car parks availability Gradual increase in the number of paid and EV parking spaces Ongoing initiatives to introduce paid parking in Southern European countries Yield management initiatives on the back of a flexible pricing model 2025 Full-Year Earnings – February 19, 2026
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2025 Full-Year Earnings – February 19, 2026 Ample resources to pursue selective external growth 31 Historically low net debt to EBITDA to navigate through all cycles 7.4x 7.1x 12/31/2023 12/31/2024 12/31/2025 Credit rating upgrade by both S&P and Fitch Rating raised on April 23, 2025 Rating raised on February 24, 2025 (Senior unsecured) to execute accretive investments
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2025 Full-Year Earnings – February 19, 2026 Extension projects to maximize value creation 32 Playbook for transformative operations • Crystallizing incremental mall value • Leading assets in the best catchment areas • Demand by key international retailers • No greenfield or mixed-use projects We have unique expertise in turning shopping malls into best-in-class assets across the European landscape Créteil Soleil France, Créteil 11,400 sq.m. extension +29% Rents up (1) +20% Average sales density (1) Gran Reno Italy, Bologna 16,700 sq.m. extension +283% Rents up (1) +17% Average sales density(1) (1) 2025 figures compared to before extension
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2025 Full-Year Earnings – February 19, 2026 Delivery of the extension in Montpellier 33 12 million Footfall €56 million Total investment 9.0% Yield-on-cost 18,500 sq.m. To be added to the 73,000 sq.m. existing mall
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2025 Full-Year Earnings – February 19, 2026 Ongoing extension at top performing Le Gru 34 11 million Footfall €81 million Total investment 10% Expected yield-on-cost 7,500 sq.m. Additional GLA on top of the existing 83,000 sq.m.
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2025 Full-Year Earnings – February 19, 2026 Rimini to become the reference mall across the Adriatic coast 35 €42 million Total investment >8% Expected yield-on-cost 6,820 sq.m. Additional GLA on top of the existing 73,000 sq.m.
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2025 Full-Year Earnings – February 19, 2026 Driving material value creation through acquisitions is in our DNA (1) Change between the acquisition value and the December 2025 appraised value 36 Value creation since acquisition in 2024 Value creation since acquisition in 2024 Capturing substantial rental uplift by implementing large-scale retenanting Improving occupancy and rent collection by leveraging our leading platform Deploying our mall income initiatives to convert the increasing footfall into incremental revenue 2025 Full-Year Earnings – February 19, 2026
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2025 Full-Year Earnings – February 19, 2026 Our latest acquisition 37 €160 million acquisition finalized end of 2025 Located in Bari, Italy Metropolitan area of 1.4 million inhabitants 7.5M yearly footfall Very high sales density 2025 Full-Year Earnings – February 19, 2026
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2025 Full-Year Earnings – February 19, 2026 We will make of Casamassima a leading mall in Southern Europe 38 Actions fueling operating improvements and rental growth Retenanting, rental uplift due to low OCRs and mall income roll- out Retail venue matching brands’ expectations International category killers endorsing the mall High single digit cash-on-cash return as early as year 1
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2025 Full-Year Earnings – February 19, 2026 Confident about 2026 as Klépierre’s growth drivers are intact 39 Rental uplift remains intact 01 Significant Mall Income growth 02 High value creation from extension projects 03 Execution of selective acquisitions 04
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2025 Full-Year Earnings – February 19, 2026 2026 Perspectives 04 2025 Full-Year Earnings – February 19, 2026 40
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2025 Full-Year Earnings – February 19, 2026 A hot transaction market is another tailwind +5% Year-on-Year European retail investment volumes in 2025, at 35.5 billion of euros 30% of retail transactions Several prime mall landmark transactions recorded in 2025 in the mid-single digit net initial yield range Source: Savills estimates – 2025 European Retail Market 2025 Full-Year Earnings – February 19, 2026 41 involve shopping centers in Europe
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2025 Full-Year Earnings – February 19, 2026 Positive operating dynamics are compressing risk premia in portfolio valuation 42 Like-for-like portfolio valuation over the year Average risk premia trends lower 6.5% 6.7% 6.8% 7.3% 7.8% 7.8% 7.6% 5.2% 5.4% 5.5% 5.6% 6.1% 6.1% 6.1% 2019 2020 2021 2022 2023 2024 2025 Discount rate Exit rate
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2025 Full-Year Earnings – February 19, 2026 43 Potential future risk premium compression supported by robust growth performance 4.9% 4.7% 4.1% 2.8% Klépierre Offices Logistic Residential 10-year swap rate Average prime net initial yield per asset class(1) vs. Klépierre (1) Average prime yields in Klépierre’s countries, according to Cushman & Wakefield, as of Q3 2025 (2) As of February 17, 2026 (2)
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2025 Full-Year Earnings – February 19, 2026 Small-scale asset disposals with NAV accretion million euros In year-to-date asset disposals(1) Above appraised values Blended Net Initial Yield (1) Disposals of assets signed or closed, in total share, excluding transfer tax 2025 Full-Year Earnings – February 19, 2026 44
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2025 Full-Year Earnings – February 19, 2026 Cost of debt won’t be a headwind in 2026 45 raised over 2025 blended yield year weighted average maturity Refinancing needs are very limited as the only major bond maturing in 2026 (€500m bond due in February) is already fully covered 2025 Full-Year Earnings – February 19, 2026 45
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2025 Full-Year Earnings – February 19, 2026 2026 Guidance 46 For full-year 2026, Klépierre expects to achieve a minimum of €1,130 million EBITDA(1) and at least €2.75 Net current cash flow per share. (1) EBITDA on a total share basis, including the attributable portion of equity investees’ EBITDA.
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2025 Full-Year Earnings – February 19, 2026 Operating KPIs and sector-leading credit metrics 05 2025 Full-Year Earnings – February 19, 2026 47
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2025 Full-Year Earnings – February 19, 2026 Retailers continue to show healthy sales growth 48 2025 retailer sales , footfall +10.3% +3.8% +1.7% +1.3% Group Northwest & CE Southern Europe Scandinavia France share of total sales (14%) (36%) (12%) (38%) 2025 retailer sales by region compared to 2024 +6.7% +6.6% +5.4% +2.1% +2.0% +1.9% Group Health & Beauty Groceries, Entertainment & Fitness Restaurant & Beverage Sports & Accessories Fashion Electronics & Home Equipment 2025 retailer sales by segment compared to 2024 share of total sales (15%) (8%) (15%) (35%) (15%)(12%)
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2025 Full-Year Earnings – February 19, 2026 Category killers enjoying double-digit retailer sales growth 49 In the Fashion segment, Mango continues to outperform, with new openings planned in 2026 Fast growing value-for-money Fashion concept addressing young customer needs Strong performance recorded at Aroma-Zone in Health & Beauty, coming with further expansion expected within Klépierre’s venues in 2026 Rituals is a fast-growing Health & Beauty brand, with additional stores planned to open in 2026
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2025 Full-Year Earnings – February 19, 2026 Earnings indicators 50 (in millions of euros) 2024 2025 Change Net Rental Income 1,066.1 1,120.4 +5.1% EBITDA(1) 985.3 1,043.4 +5.9% NET CURRENT CASH FLOW 850.0 890.7 - Group share 746.5 780.4 - NET CURRENT CASH FLOW (€ per share) 2.60 2.72 +4.6% EBITDA(1) + attributable portion of equity investees’ EBITDA 1,061.4 1,119.3 +5.5% (1) EBITDA stands for “earnings before interest, taxes, depreciation and amortization” and is a measure of the Group’s operating performance
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2025 Full-Year Earnings – February 19, 2026 2025 Net current cash flow per share up 5% 51 GROUP SHARE € 2.60 € 0.17 € 0.02 -€ 0.03 -€ 0.04 2024 NCCF Change in NRI Management fees & other income and Payroll & G&A Cost of debt Current tax expenses 2025 NCCF € 0.17
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2025 Full-Year Earnings – February 19, 2026 Main appraisers’ assumptions as of December 31, 2025 The 4.9% like-for-like increase in property valuations in 2025 arises from the combination of: The average EPRA NIY for the portfolio stood at 5.7%, down 20 basis points over twelve months. positive cash flow effect positive market effect Portfolio valuation up 4.9% over the year on a like-for-like basis 12/31/2025 % of total portfolio 12/31/2024 France 7,902 37.3% 7,734 Southern Europe 7,782 36.7% 7,146 Scandinavia 2,530 11.9% 2,431 Northwest and Central Europe 2,978 14.1% 2,914 TOTAL PORTFOLIO 21,192 100.0% 20,225 Reported LfL(1) +2.2% +3.1% +8.9% +7.0% +4.1% +3.3% +2.2% +6.0% +4.8% +4.9% Change over 12 months 52 (1) Like-for-like change. For Scandinavia and Türkiye, change is indicated on a constant currency basis. Central European assets are valued in euros
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2025 Full-Year Earnings – February 19, 2026 Value growth fueled EPRA net asset value metrics EPRA net asset values December 2024 December 2025 Change EPRA NRV €36.7 €39.9 +8.7% EPRA NTA €32.8 €35.9 +9.5% EPRA NDV €29.3 €31.7 +8.2% 53
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2025 Full-Year Earnings – February 19, 2026 Our credit metrics Net Debt Net Debt to EBITDA 6.7x Loan-to-value ratio 34.7% Interest Coverage ratio Average cost of debt 2025 Full-Year Earnings – February 19, 2026 54
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2025 Full-Year Earnings – February 19, 2026 Significant covenant headroom 55 Covenants applicable to Klépierre SA financing (1) December 2025 Loan-to-Value ≤ 60% 34.7% EBITDA / Net interest expense ≥ 2.0x 7.2x Secured debt / Portfolio value(2) ≤ 20% 1.9% Portfolio value (3) ≥ €10bn €18.4bn Secured debt / Revalued NAV(2) ≤ 50% 3.0% (1) Covenants are based on the 2025 revolving credit facility (2) Excluding Steen & Strøm (3) Group share, including transfer taxes and including equity-accounted investees
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2025 Full-Year Earnings – February 19, 2026 56 Sound liquidity position covers 36% of our gross debt Liquidity position as of December 31, 2025: €3 billion Split of liquidity available Other credit facilities €325m Cash and equivalents Unused committed revolving credit facilities €1,800m
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2025 Full-Year Earnings – February 19, 2026 Well-spread debt maturities with a 6.3-year average maturity 57 Financing breakdown by type of resource Long-term debt maturity schedule excluding commercial papers 604 668 318 857 1,038 1,319 820 673 88 120 15 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037+ Very limited refinancing needs in the years to come Full flexibility regarding sources of financing underpinned by a strong credit rating and a qualitative portfolio as of December 31, 2025 (Outstanding debt, total share) (in millions of euros) 77% Bonds 1% Corporate loans Mortgage loans 12% Commercial paper Financing breakdown by type of resource Long-term debt maturity schedule excluding commercial papers 604 668 318 857 1,040 1,319 820 673 88 120 15 678 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037+ Very limited refinancing needs in the years to come Full flexibility regarding sources of financing underpinned by a strong credit rating and a qualitative portfolio as of December 31, 2025 (Outstanding debt, total share) (in millions of euros) 77% Bonds 1% Corporate loans Mortgage loans 12% Commercial papers
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2025 Full-Year Earnings – February 19, 2026 2026 Guidance 06 2025 Full-Year Earnings – February 19, 2026 58
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2025 Full-Year Earnings – February 19, 2026 We propose a €1.90 dividend per share 59 The proposed distribution would be a payment in two equal installments: • €0.95 per share on March 10, 2026 • €0.95 per share on July 7, 2026 Proposed distribution submitted for approval by shareholders at the May 7, 2026 AGM. PAY-OUT RATIO OFPROPOSED DISTRIBUTION OF up 3% year-on-year €0.87 €1.03 €1.90 The proposed distribution is composed of: SIIC dividendNon-SIIC dividend (1) Dividend per share / Net Current Cash Flow per share (Group share)
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2025 Full-Year Earnings – February 19, 2026 2026 Guidance 60 For full-year 2026, Klépierre expects to achieve a minimum of €1,130 million EBITDA(1) and at least €2.75 net current cash flow per share in a weaker indexation environment and under the following assumptions : • Stable macroeconomic backdrop • Broadly flat retailer sales • No impact from further disposals or acquisitions ; and • Cost of debt near-fully hedged in 2026 Klépierre begins the new year with confidence as its key organic rental uplift and mall income levers remain well positioned. In addition, the Group will benefit from the full-year contribution of the Casamassima (Bari) mall acquisition. (1) EBITDA on a total share basis, including the attributable portion of equity investees’ EBITDA 60
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2025 Full-Year Earnings – February 19, 2026 May 7, 2026 Q1 trading update(1) Agenda (1) Before market opening 61
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2025 Full-Year Earnings – February 19, 2026 Appendix 2025 Full-Year Earnings – February 19, 2026 62
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2025 Full-Year Earnings – February 19, 2026 Net current cash flow 63 Total Share (€m) 12/31/2024 12/31/2025 Change Gross rental income 1,230.6 1,267.5 Rental and building expenses (164.5) (147.1) Net rental income 1,066.1 1,120.4 +5.1% (+4.5% like-for-like) Management fees & other income 78.8 84.5 Payroll expenses and other general expenses (159.6) (161.5) EBITDA(1) 985.3 1,043.4 +5.9% Cost of net debt (164.3) (171.6) Cash flow before share in equity investees and taxes 821.0 871.8 Share in equity investees 64.0 61.3 Current tax expenses (35.0) (42.4) Net current cash flow (total share) 850.0 890.7 +4.8% Group Share (€m) NET CURRENT CASH FLOW 746.5 780.4 NET CURRENT CASH FLOW (€ per share) 2.60 2.72 +4.6% EBITDA(1) including the attributable portion of equity investees’ EBITDA 1,061.4 1,119.3 +5.5% (1) EBITDA stands for « earnings before interest, taxes, depreciation and amortization » and is a measure of the Group’s operating performance.
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2025 Full-Year Earnings – February 19, 2026 A recognized global leadership in sustainability 64 LEADER • Peers’ comparison: 1st Worldwide Retail Listed • 1st Europe Retail • 1st Europe Listed, all classes of assets • Five-star rating for the 5th year • SCORE: 95/100 “A” LIST CAC SBT 1.5 INDEX AA RATING 1.5° C Klépierre is, once again, one of the few businesses worldwide included in the CDP’s “A” list out of the 22,800 participants Klépierre is included in the ESG index: • CAC SBT 1.5, a climate-focused version of the CAC 40, including companies in line with the 1.5°C goal of the Paris Agreement Klépierre maintains its AA rating, identified as an industry leader Klépierre’s low-carbon strategy is validated by SBTi and aligned with the 1.5°C scenario
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2025 Full-Year Earnings – February 19, 2026 Achieving net zero by 2030 Building the most sustainable platform for commerce 70 as the average portfolio energy efficiency PURSUE OUR EFFORTS ON ENERGY EFFICIENCY AND REACH 30% of self consumption for our 40 largest shopping centers INSTALL RENEWABLE ENERGY PRODUCTION UNITS AT OUR ASSETS TO REACH UP TO 20% reduction in tenants’ energy consumptions MEASURE OUR TENANTS’ PRIVATE ENERGY CONSUMPTIONS IN OUR SHOPPING CENTERS AND SUPPORT THEM IN ACHIEVING A 40% decrease in GHG emissions related to their transportation ENGAGE OUR VISITORS WITH THE AIM OF ACHIEVING A kWh /sq.m. 65
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2025 Full-Year Earnings – February 19, 2026 The Group’s 2025 key ESG performance indicators Notable achievements testifying to our long-standing efforts 43% Reduction in the energy intensity of our portfolio (vs. 2013, and 0.4% vs. 2024) now standing at 74.6 kWh/sq.m. 87% Reduction in greenhouse gases emissions (GHG) Scopes 1 and 2 (vs. 2017, and 6% compared to 2024)100% 40% Share of women in the Group Executive Committee Assets with a valid BREEAM In-Use certification 100% Waste diverted from landfill100% Rate of access to training for employees 66
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2025 Full-Year Earnings – February 19, 2026 investorrelations@klepierre.com +33 (0)6 86 59 74 36 Contact 67