WE LINK CREATING PEOPLE SUSTAINABLE, SMART AND LIVELY PLACES

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1 HUNGARY

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3 WE LINK PEOPLE CREATING SUSTAINABLE, SMART AND LIVELY PLACES

4 AUCHAN HOLDING In 2015, Groupe Auchan transformed itself giving rise to three independent companies : Auchan Retail, grouping together all the food retailing channels and formats, Immochan and Oney Banque Accord. AUCHAN RETAIL Hypermarkets, supermarkets, convenience stores, e-commerce + AUTONOMY + EFFICIENCY IMMOCHAN + FLEXIBILITY AND RAPIDITY ONEY BANQUE ACCORD

5 AUCHAN RETAIL PRESENT IN 16 COUNTRIES 4,000 STORES 2.4 BILLION CUSTOMERS PASS THROUGH THE CHECKOUTS 11TH LARGEST FOOD RETAILER IN THE WORLD 332,900 EMPLOYEES 52.7 BILLION EUROS IN CONSOLIDATED REVENUE EXCLUDING TAXES Immochan works with Auchan Retail on its development projects around the world. Carried along by their complementary expertise and shared promise to customers: to make shopping fun for families, Auchan Retail and Immochan unite all the factors of success.

6 ONE FAMILY, 1961 > Gérard Mulliez opens the first store in Roubaix (Northern France), in the Hauts Champs district, from which the company takes its name.

7 SO MANY SUCCESS STORIES

8 A STORY THAT S STILL BEING WR Creation of a shopping centre REAL ESTATE DEPARTMENT IN GROUPE AUCHAN Establishment of IMMOCHAN INTERNATIONAL Establishment of the Spain subsidiary and GCI (Italy) Establishment of subsidiaries in PORTUGAL and POLAND Establishment of IMMOCHAN FRANCE Establishment of the subsidiary in HUNGARY Establishment of the subsidiary in UKRAINE

9 ITTEN... Establishment of the subsidiary in ROMANIA Presence in the form of real-estate departments in CHINA and in TAIWAN Groupe Auchan becomes Auchan Holding IMMOCHAN IS AN INDEPENDENT COMPANY Enhancement of the DYNAMIC ASSET MANAGEMENT STRATEGY , In Italy, takeover of the Simon Group share, Immochan becomes 100% owner of the malls 2013 & 2015, Immochan France sells off 2 portfolios of retail properties for over 160 million and 120 million 2014 & 2015, takeover of 12 Real mall in Romania 2014, establishment of an Investment fund in Italy with Morgan Stanley composed of 15 Italian properties 2014 & 2015 : major partnership with Alaska Permanent Fund for Zenia Boulevard (Spain), Alegro Alfragide & Alegro Setúbal (Portugal) Immochan celebrates its 40 YEARS and launches its Vision 2030 program

10 OUR COMMITMENT 12 COUNTRIES IN EUROPE AND ASIA 379 SHOPPING CENTRES MANAGED For 40 years, Immochan has been developing global expertise in commercial property and controls the entire value creation chain from investment down to dynamic asset management, passing through the design, marketing, management and promotion of the centres. IMMOCHAN IS NOW ONE OF THE LEADING EUROPEAN COMMERCIAL PROPERTY COMPANIES FOR SHOPPING CENTRES.

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12 KEY FIGURES 12 COUNTRIES 379 SHOPPING CENTRES with 68% in full ownership 1.7 BILLION visitors 3,9 MILLIONS M 2 MANAGED > 2.5 million m 2 managed in shopping centres (GLA) > 1.4 million m 2 managed in retail parks retail partners + THAN 900 employees

13 379 SHOPPING CENTRES IN 12 COUNTRIES FRANCE 97 RUSSIA POLAND HUNGARY FRANCE ROMANIA ITALY UKRAINE CHINA TAÏWAN WESTERN EUROPE 86 ASIA 94 CENTRAL AND EASTERN EUROPE 102 Spain 30 Italy 45 Portugal 10 Luxembourg 1 China 72 Taiwan 22 Hungary 18 Poland 22 Romania 24 Russia 35 Ukraine 3

14 FINANCIAL OVERVIEW REVENUE in millions of euros EBITDA in millions of euros CURRENT OPERATING RESULTS in millions of euros GROSS INVESTMENTS in millions of euros NET FINANCIAL DEBT in millions of euros FAIR VALUE OF ASSETS in millions of euros

15 OUR EXPERTISE PROMOTION & CONSTRUCTION Constructing new projects and concepts COMMERCIALISATION Optimising the attractiveness of our sites OPERATIONS Welcoming, animating & optimising service charges ASSET MANAGEMENT Invest sustainably & dynamic managementof our assets

16 HUNGARY 2015 GDP PER CAPITA EUR Source: KSH 2015 TURNOVER OF BUDAPEST SHOPPING CENTER SCHEMES GREW BY 10-12% Y-O-Y HUNGARY 2015 Q1-Q2 RETAIL SALES IN HUNGARY GREW BY 6.1% Y-O-Y the second highest among CEE countries POPULATION 9.9 MILLION LAND AREA SQ KM EUROPE

17 BUDAPEST 1 ST IN CEE on the Financial Times list of European cities of the future 2 ND BEST CITY in the world by CNN BUDAPEST 5 TH MOST BUSINESS FRIENDLY CITY in Europe *FT rank the most liveable city in CEE according to the Economist Intelligence Unit POPULATION: HUNGARY

18 REAL ESTATE MARKET OVERVIEW COMMERCIAL REAL ESTATE(CRE) TURNOVER IN HUNGARY Investment turnover EUR 735 M Prime Office Yield 6.75% Prime Retail Yield 6.25% Prime Industrial Yield 8.50% million EUR Note: Arrows indicate change from previous year Forecast 10 year Average Industrial Other Office Retail Source BRF, CBRE Research *Commercial Real Estate stands for any kind of income-providing property, excluding land and residental for lease INVESTMENT VOLUME IN HUNGARY million EUR Other Hotel Industrial Retail Office Source: JLL forecast

19 THERE ARE DEFINITELY TANGIBLE IMPROVEMENTS IN THE RETAIL MARKET IN HUNGARY SUGGESTING THE WORST YEARS OF THE CRISIS ARE NOW OVER. TURNOVER PERFORMANCE IS IMPROVING GENERALLY GIVING RETAILERS CONFIDENCE TO ENTER NEW MARKETS AND OPEN IN NEW LOCATIONS. Retailers now have a better understanding of the complexities of the market, meaning they are more selective about the locations they choose and the conditions they are willing to accept. This is leading to a polarisation within the sector, with the better shopping centres seeing improvements in retailer demand and performance, while less clearly defined schemes are falling further behind. As the market becomes more sophisticated landlords must ensure their retail assets stay relevant to the changing demands of targeted tenants and customers, as well as meeting investor criteria. Along with maintaining a strong awareness of local and international retail market trends it is becoming more important to ensure the asset meets institutional standards from every aspect. And just as retailers are adopting more sophisticated and often regional expansion strategies, investors need to formulate clear asset management strategies for their assets implemented by experienced teams on the ground. Source: JLL SHOPPING CENTRE DENSITY IN EUROPE Czech Repubic France Poland Slovakia Croatia Germany Hungary Romania Turkey Russia Bulgaria Belgium Greece Ukraine Serbia Total stock per inhabitants, sq m RETAIL MARKET HUNGARY Shopping centre density / 1000 inhabitants BUDAPEST 444 sq m HUNGARY 138 sq m Source: JLL

20 ABOUT IMMOCHAN HUNGARY BUDAKALÁSZ DUNAKESZI M3 SOLYMÁR FÓT ÓBUDA CSÖMÖR M0 M1 BUDAPEST BUDAÖRS MAGLÓD M7 TÖRÖKBÁLINT M5 SOROKSÁR M6 SZIGETSZENTMIKLÓS M1 M0 M0 SZÉKESFEHÉRVÁR BUDAPEST M5 MISKOLC M3 SZOLNOK DEBRECEN M7 M6 KECSKEMÉT SZEGED sq m total GLA (mall+retail park) sq m Hypermarket sales area sq m total retail space including our retail parks

21 18 locations more than number of visitors per year 3,5 million sq m development land

22 SOROKSÁR MARKET5 OPENING M 2 GLA + AUCHAN HYPERMARKET

23 SOLYMÁR PILIS PARK THE NEW WAY OF STRIP MALLS OPENING M 2 GLA + AUCHAN HYPERMARKET

24 ÓBUDA LE GARAGE EAT AND MEET OPENING 2018

25 KECSKEMÉT HAPPY LIFE IN HOUSING HANDOVER RESIDENCE

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28 IMMOCHAN HUNGARY LTD. Phone: