Investor Relations

Unibail-Rodamco : a unique player

2011 Institutional Investor/top investor relations (Buy Side)
> Best CEO
> Best CFO
> Best IR professional
> Best Investor Relations Company
Unibail-Rodamco thanks investors and analysts for the support shown by their votes.

EXTEL 2011 Pan European Awards / Investor Relations
> Best Firm for Investor Relations in Real Estate
> Best Investor Relations Professional in Real Estate
Unibail-Rodamco thanks investors and analysts for the support shown by their votes.

The Unibail-Rodamco 2010 Annual Report received an EPRA Bronze Award for the application of Best Practices Recommendations for reporting in the European listed real estate sector.

For each of its businesses, Unibail-Rodamco aims to maximise shareholder value and return on investment through proactive management, a dynamic acquisition and disposal policy, and a high level of expertise in the management of major development and refurbishment projects.

Leading listed European commercial property operator, investor and developer with a portfolio of high quality assets valued at €24.8 billion
Listed on the Paris stock exchange since 1972 and part of the French CAC 40, Dutch AEX and EURO STOXX 50 indices
Largest listed REIT (real estate investment trust) in Europe with transparent tax structure in France
One of Europe's most liquid REITs
Strongest rating in the industry: "A" rated by Standard & Poor's and "A" by Fitch
Strongest financial ratios in the industry: 3.8x interest coverage ratio and 38% Loan to Value
A high dividend/distribution policy of 85% to 95% of recurring earnings per share
A socially responsible company: listed on the FTSE4Good, DJSI World,DJSI Europe and STOXX Global ESG Leaders.

Dear Shareholders,
The Group's teams are committed to creating value for you. Their focus and skills enable the Group to deliver superior growth in all of its activities and to optimise the value of the prime commercial assets and development projects in its portfolio. The size, location and reputation of these assets provide the Group with an inherent competitive advantage. The Group's active management approach attracts the best retailers to its shopping centres, which in turn drives footfall and boosts tenants' sales. All of this creates growth that benefits its assets and, ultimately, its shareholders.
Unibail-Rodamco has a strong capital recycling policy. Once its assets are mature and generating stable rents, it sells them in order to reinvest in projects with the potential to generate superior growth or it returns cash to shareholders. Investing in Unibail-Rodamco shares is like investing in a proxy for real estate: they combine the solidity offered by prime real estate and the liquidity offered by the stock market, all with a regular dividend thanks to the Group's REIT status. This clear vision and strategy has enabled Unibail-Rodamco to deliver the best performance in the industry - outperforming both European peers and the CAC40 - and allows the Group to look to the future with confidence.
Thank you for your trust,
Peter van Rossum
Chief Financial Officer