STEADY TRADING MOMENTUM AND GUIDANCE UPLIFT

Paris – October 21, 2026

Solid trading momentum continued during the third quarter, as leading and fast-growing retailers fueled uninterrupted demand for high-quality retail space. These healthy fundamentals, combined with an irreplaceable portfolio of destination malls across continental Europe and a dynamic consumer environment, drove further market share gains, continued leasing activity and strong rental uplift.

Sustained organic growth momentum over 9 months:

HIGHLIGHTS OF THE PERIOD

Strong operating momentum in a healthy consumer environment

Demand for high-quality and profitable retail space is stronger than ever, while new supply remains scarce. This uninterrupted favorable market backdrop continued to benefit Klépierre’s best-in-class portfolio. For the fourth consecutive year, Klépierre has maintained a strong positive operating performance with further growing in-store traffic and retailer sales, improving occupancy and rental uplift.

In the first nine months of 2026, the attractiveness of the Group’s venues was underpinned by retailer sales and footfall growth of +3.9% 3 and +1.1% respectively, maintaining the robust first half period results and providing further market share gains. Every region and segment posted positive retailer sales growth, with Southern Europe again delivering a remarkable performance and Health & Beauty continuing to lead the pack.

The unabated demand for Klépierre’s malls generated greater leasing tension. Over the first nine months of 2026, the Group sustained a strong rental uplift 4 on renewals and relettings at +5.5% and achieved a higher occupancy at 97.1%, up 10 basis points year-on-year.

Continued cash flow generation

Over the first nine months of 2026, net rental income was up 4.6% year-on-year, driven by 3.8% like-for-like growth 5 (once again 300 basis points above indexation), and contributions from Casamassima (Italy) and Aqua Portimão (Portugal) acquisitions.

The Group continued to monetize its growing audience, with Mall Income expanding by 13.6% over the first nine months of the year. Mall Income growth sustained a healthy pace in the third quarter, as Klépierre’s dedicated local teams continued to roll out the expansion strategy. In Specialty Leasing, Klépierre boosted brand activations and promotional events across its malls. In Retail Media, the Group is pivoting from a legacy outsourced model to a hybrid approach combining fixed contractual fees with profit-sharing arrangements.

The strong operating performance generated a 5.4% growth in EBITDA 2 and a 4% growth in net current cash flow per share.

A unique platform geared for capital value creation

Throughout the past years, Klépierre has continued to actively deploy capital in high-quality assets across Southern Europe’s most dynamic catchment areas. In addition to the ongoing extension projects of Le Gru (Turin, Italy) and Romagna (Rimini, Italy), the Group seized opportunities to acquire premier malls in Italy.

On October 15, 2026, the Group signed a binding agreement to acquire from its JV partner the remaining 50% stake of a mall portfolio, including Il Leone, a leading Italian shopping center located in the Lombardy region, for a total consideration of €196 million. This latest debt-funded transaction will further strengthen Klépierre’s exposure to Southern Europe, its largest and fastest-growing region. The deal is expected to be highly accretive from day one and to close by December 31, 2026.

Il Leone is a high-performing top Italian mall by Lake Garda (Italy), a highly affluent area and a premier tourist destination. The retail complex comprises a 60,000 sq.m. GLA enjoying an elevated sales density and benefiting from the most upscale retailer mix with Zara, Lefties, additional Inditex brands, as well as Apple, Sephora, Decathlon, and Pellizzari. Klépierre plans to unlock a value-creating extension project designed to enhance the dining offer and introduce a new entertainment component.

Industry-leading credit profile supporting competitive access to funding

Supported by its best-in-class A-/A 6 credit ratings from S&P and Fitch, the Group raised €1,060 million in long-term financing, with an average 7-year maturity at a blended yield of 3.81%. Klépierre notably issued a new €500-million green bond maturing in September 2034 and carrying a 3.875% coupon.

As of September 30, 2026, Klépierre’s net debt-to-EBITDA stood at 6.6x and its interest coverage ratio at 7.0x. The Group’s average debt maturity was 6.1 years at an average cost of debt of 1.9%.

Consolidated net debt was stable at €7,312 million at the end of September 2026, compared with €7,352 million on June 30, 2026. Liquidity stood at €2,949 million 7, covering 4.5 years of maturities.

Unrivalled sustainability leadership

Klépierre’s sustainability leadership was once again recognized by GRESB, with the Group ranking No. 1 in the European listed real estate category, across all asset classes. This achievement underlines the strength of its Act4Good® strategy, validated by the Science-Based Target initiative (SBTi), designed to build the most sustainable platform for commerce by 2030.

The strategy rests on four pillars: achieving net-zero carbon emissions, serving local communities, developing talent, and promoting sustainable lifestyles. Across its portfolio, Klépierre’s teams strive to reduce energy and resource consumption, contributing to lower operating costs for the benefits of our tenants. More responsible and inclusive shopping centres drive visitor engagement, loyalty and enhance the long-term attractiveness and growth of the portfolio.

2026 GUIDANCE REVISED UPWARD

Against the backdrop of continued geopolitical and macroeconomic volatility, Klépierre remains highly confident in its ability to deliver a solid operating and financial performance over the remainder of the year.

Accordingly, the Group raises its 2026 full-year guidance and now expects to achieve a minimum of €1,165 million EBITDA 1 and to reach a net current cash flow per share of €2.83.

NET CURRENT CASH FLOW ( a )

(a) The data disclosed have not been audited.

(b) EBITDA stands for “earnings before interest, taxes, depreciation and amortization” and is a measure of the Group’s operating performance.

9-MONTH 2026 REVENUE ( a )

1 EBITDA on a total share basis, including the attributable portion of equity investees’ EBITDA. EBITDA stands for “earnings before interest, taxes, depreciation and amortization” and is a measure of the Group’s operating performance.

2 On a total share basis.

3 Excluding the impact of assets recently acquired, sold or undergoing extensions, refurbishment and repositioning (Forum Duisburg, Globo, Le Millénaire, Prado, Roques-sur-Garonne, Villa Arena).

4 Excluding the impact of recently sold assets.

5 Like-for-like data exclude the contribution from acquisitions, spaces being restructured, and disposals completed since January 2025.

6 S&P assigns the Group a long-term A- rating with a stable outlook and Fitch attributes an A rating with a stable outlook to Klépierre’s senior unsecured debt.

7 Mainly comprising €1,744 million in unused committed credit facilities (net of commercial paper), €325 million in other credit facilities and €880 million in cash and equivalents.

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