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W UNIBAIL - RODAMCO - WESTFIELD Paris , Amsterdam , July 28 , 2021 First half results reflect significant COVID - 19 related disruption - continued resilience in tough operating conditions UNIBAIL - RODAMCO - WESTFIELD REPORTS H1-2021 EARNINGS All centres now open and trading - encouraging recovery in footfall and sales data when restrictions ease ● Press release Flagship strategy endorsed by successful opening of Westfield Mall of the Netherlands and delivery of last phase of La Part - Dieu and La Maquinista extensions ● Good progress on comprehensive deleveraging plan - agreed or completed € 1.7 Bn in European disposals ; US portfolio streamlining underway H1-2021 in review : Continued COVID - related disruption , with the Group's centres " closed " for 68 days on average ( vs. 67 days in H1-2020 ) , despite no closures in the US¹ ● Progressive reopening of European centres during April and May , with June footfall reaching 76 % of 2019 levels and June tenant sales at 86 % of 2019 levels in Europe , and reaching 100 % in the US Rent collection at 89 % of rent due , exceeding H1-2020 despite lower collection in France due to pending decision on government support Improvement in letting activity , with 1,218 deals signed , + 84 % vs. H1-2020 and + 3 % vs. H1-2019 Pragmatic approach to lease terms to navigate short term challenges and protect long term value , with 56 % of H1-2021 deals being leases between 12 and 36 months ● Overall vacancy stabilised in Q2 at 8.9 % ( vs. 8.3 % at FY - 20 and 8.8 % at Q1-2021 ) ; vacancy down in Continental Europe from 5.4 % at Q1-2021 to 5.0 % at H1-2021 ; UK down from 12.6 % to 12.2 % ● Successful opening of Westfield Mall of the Netherlands in March 2021 : 94 % let with around 1 million visits in both May and June Further progress on European disposals with € 1.7 Bn now agreed or completed out of the € 4.0 Bn to be achieved by the end of 2022 , including the agreed disposal of 7 Adenauer office building , for which a promissory deed of sale was signed in July 2021 € 12.5 Bn of cash and available facilities on hand , securing refinancing needs for the next 36 - months IFRS LTV at 44.4 % and 43.7 % pro - forma for the proceeds of the sale of 45 % of Shopping City Süd cashed - in in July and 7 Adenauer ; H1-2021 proforma Net Financial Debt at € 23.0 Bn ( FY - 20 : € 24.2 Bn ) Further strengthening of governance and leadership expertise with the appointment of a Chief Customer Officer to the Management Board to better address evolving consumer preferences and drive future growth in advertising , data , and omnichannel retail ¹ Centres counted as closed when only " essential " stores were allowed trade . Weighted by shopping centre NRI in 2019 .