Klepierre Sa · EURONEXT:LI
Klepierre Sa — Shareholder Meeting (April 2025)
88 slides from Klepierre Sa's shareholder meeting presentation, Apr 24, 2025
Slide 1: 2025 Combined general meeting of shareholders
April 24, 2025 2025 Combined general meeting of shareholders
Slide 2: Disclaimer
Disclaimer This document was prepared by Klépierre S.A. (the “Company”) solely for use at the presentation made during the General Meeting of its shareholders scheduled for April 24, 2025. This document is not to be reproduced or distributed, in whole or in part, by any person other than the Company
Slide 3: Table of Content
Table of Content A. Constitution of the bureau of the meeting B. 2024 management report and first-quarter 2025 trading update C. Statutory auditors’ reports D. CSR strategy and performance E. Corporate governance and say-on-pay F. Questions & answers G. Presentation of the resolutions and vote 3
Slide 4: Constitution of the bureau of the meeting
A Constitution of the bureau of the meeting
Slide 5: Constitution of the bureau
Constitution of the bureau Chairman of the Bureau All documents relating to this General Béatrice de Clermont Tonnerre, Vice-Chair of Meeting have been tabled at the Meeting the Klépierre Supervisory Board and have been made available to the shareholders and on the Company’s 1st scrutineer website w
Slide 6: 2024 management report and first quarter 2025 trading update
B 2024 management report and first quarter 2025 trading update
Slide 7: Table of Content
Table of Content 1.A strong 2024 performance 2.Solid momentum in Q1 2025 3.Distribution & outlook 7
Slide 8: A strong 2024 performance
01 A strong 2024 performance
Slide 9: Solid outperformance
General Meeting – April 24, 2025 Solid outperformance +5.3% Net current cash flow per share at €2.60, 5% above initial guidance +8.9% 6.4% Increase in EPRA NTA Cash dividend yield 9
Slide 10: Strong outperformance at the EBITDA level
General Meeting – April 24, 2025 Strong outperformance at the EBITDA level +6.9% 1 Further improvement in the EBITDA margin at 86%, up 70 basis points year-on-year EBITDA growth 2 +6.3% like-for-like net rental income growth • Positive rental uplift • Higher collection rate • Better occupancy • Grow
Slide 11: Retailer sales productivity is rising, and Klépierre malls continue to gain market shares
General Meeting – April 24, 2025 Retailer sales productivity is rising, and Klépierre malls continue to gain market shares +4.0% +2.5% Retailer sales growth in 2024 vs. 2023 Footfall increase in 2024 vs. 2023 and up 10% over the last two years and up 7.5% over the last two years Solid market share g
Slide 12: Tenant demand for our venues remains at a high level
General Meeting – April 24, 2025 Tenant demand for our venues remains at a high level Solid occupational performance and rental uplift Deals signed by segment – (in sq.m.)(1) 1,725 1 Fashion 37% Deals signed +4% year-on-year 96.5% 2 Cinema, Fitness & Other 15% 3 Culture, Sports & Leisure 14% Occupan
Slide 13: 2024 was the start of the capital appreciation journey
General Meeting – April 24, 2025 2024 was the start of the capital appreciation journey 12-month like-for-like change in portfolio value EPRA NTA per share +3,90% +4,10% 32,8 € 31,4 € 30,1 € +0,10% Market effect Cash flow effect Full year 2024 12/31/2023 06/30/2024 12/31/2024 EPRA net initial yield
Slide 14: 2024 acquisitions perfectly illustrate our investment strategy
General Meeting – April 24, 2025 2024 acquisitions perfectly illustrate our investment strategy Special situations 1 offering attractive buy-out valuation opportunities Assets matching our 2 clients’ expectations 6th most visited mall in Italy with 12th most visited mall in France, 10 million yearly
Slide 15: We affirmed our worldwide leadership in sustainability
General Meeting – April 24, 2025 We affirmed our worldwide leadership in sustainability 1st Worldwide Retail Listed Klépierre is one of the 2% businesses st worldwide included in the CDP 1 Europe Retail climate “A” list out of the 1st Europe Listed, all classes of assets 22,400 participants Score of
Slide 16: Solid momentum in Q1 2025
02 Solid momentum in Q1 2025
Slide 17: Further growth in Q1 2025
General Meeting – April 24, 2025 Further growth in Q1 2025 The Group delivered a growing year-on-year performance in Q1 2025. In a context of global macroeconomic uncertainty, the backdrop for consumption in continental Europe remains positive, supported by historically low unemployment rate and wag
Slide 18: Retailers continue to show healthy sales growth in the first quarter 2025
General Meeting – April 24, 2025 Retailers continue to show healthy sales growth in the first quarter 2025 Q1 2025 retailer sales by region compared to Q1 2024 +5% +2% +2% +2% 0% -1% Group Iberia France Italy Scandinavia (share of total Northwest & Central sales) Europe (13%) (40%) (24%) (11%) (12%)
Slide 19: First quarter operating highlights
General Meeting – April 24, 2025 First quarter operating highlights +3.8% EBITDA +3.5 %(1) Reported net rental income 96.5% Occupancy rate +50 bps year-on-year +3.0% Rental uplift on renewals and relettings 19 (1) + 2.9% on a like-for-like basis
Slide 20: Best level of credit rating in the European listed real estate universe
General Meeting – April 24, 2025 Best level of credit rating in the European listed real estate universe A− A Long-term rating Senior unsecured rating (raised on February 24, (raised on April 23, 2025) 2025) A2 Short-term rating Stable outlook Stable outlook 20
Slide 21: We operate with a sector-leading balance sheet
General Meeting – April 24, 2025 We operate with a sector-leading balance sheet(1) 7.1x 1.8% Net Debt Average cost to EBITDA of debt 36.5% 5.8 years Loan-to-value Average ratio debt maturity 21 (1) Ratios at 31 March 2025, with the exception of the Loan-to-Value ratio calculated at December 31, 2024
Slide 22: Distribution & outlook
03 Distribution & outlook
Slide 23: We propose a 3% increase in cash distribution at €1.85 per share
General Meeting – April 24, 2025 We propose a 3% increase in cash distribution at €1.85 per share The proposed distribution is composed of: Proposed distribution of Pay-out ratio of €1.85 €1.85 71% (1) up 3% compared to 2024 €0,690 €0,925 The proposed distribution would be a payment in two installme
Slide 24: 2025 guidance
General Meeting – April 24, 2025 2025 guidance The first quarter positive performance confirms the solid momentum observed in 2024. Going forward, despite the current volatile macroeconomic and geopolitical context, Klépierre is absolutely confident in its ability to continue to deliver growth, capi
Slide 25: Statutory auditors' reports
C Statutory auditors’ reports
Slide 26: Preamble
General Meeting – April 24, 2025 Preamble 6 reports issued for the purpose of this General Meeting — Audit of the annual financial statements — Audit of the consolidated financial statements — Regulated agreements — Authorization to grant existing or newly issued free shares — Capital decrease — Iss
Slide 27: Statutory auditors' report on the company financial statements
General Meeting – April 24, 2025 Statutory auditors’ report on the company financial statements 1st resolution Opinion Unqualified opinion on the financial statements Justification of assessments — Key audit matters Impairment of equity investments Specific verifications No matters to report Other v
Slide 28: Statutory auditors' report on the company consolidated financial statements
General Meeting – April 24, 2025 Statutory auditors’ report on the company consolidated financial statements 2nd resolution Opinion Unqualified opinion on the consolidated financial statements Justification of assessments — Key audit matters Measurement of fair value of investment properties Specifi
Slide 29: Statutory auditors' report on related-party agreements
General Meeting – April 24, 2025 Statutory auditors’ report on related-party agreements 4th resolution New agreements submitted for approval to the Annual General Meeting None for 2024 Agreements previously approved by the Annual General Meeting Two loan agreements with Nordica Holdco AB, 56.1% indi
Slide 30: Statutory auditors' report on the capital reduction
General Meeting – April 24, 2025 Statutory auditors’ report on the capital reduction 15th resolution Authorization to reduce the share capital by canceling treasury shares We have nothing to report on the terms and conditions of the proposed capital reduction
Slide 31: Statutory auditors' report on the issuance of shares and various securities
General Meeting – April 24, 2025 Statutory auditors’ report on the the issuance of shares and various securities, with retention and/or cancellation of preferential subscription rights 16th, 17th, 18th, 19th, 20th and 22nd resolutions In respect of the 17th and 18th resolutions, and subject to a sub
Slide 32: Statutory auditors' report on the authorization to grant free shares
General Meeting – April 24, 2025 Statutory auditors’ report on the authorization to grant existing or newly issued free shares 23th resolution Authorization to be granted to the Executive Board, for a period of 38 months, to allot free shares of the Company, with waiver of shareholders’ preemptive s
Slide 33: Conclusions of our limited assurance report
General Meeting – April 24, 2025 Conclusions of our limited assurance report 3 distinct conclusions 1- ESRS compliance of the double materiality assessment We have not identified any material errors, omissions or inconsistencies regarding the compliance of the process implemented 2- Compliance of in
Slide 34: CSR strategy and performance
D CSR strategy and performance 34
Slide 35: Our global leadership in sustainability has been recognized worldwide
General Meeting – April 24, 2025 Our global leadership in sustainability has been recognized worldwide CAC 40 ESG INDEX LEADER “A” LIST A RATING 1.5°C CAC SBT 1.5 INDEX • Peers’ comparison: • Klépierre is one of the 2% • Klépierre is integrated • Klépierre received an A • In 2020, Klépierre’s 1st Wo
Slide 36: Building the most sustainable platform for commerce
General Meeting – April 24, 2025 Building the most sustainable plateform for commerce Achieving net zero by 2030 Pursue our efforts on energy Install renewable energy production units efficiency and reach at our assets to reach up to 70 kWh /sq.m. as the average portfolio 30% of self consumption for
Slide 37: Our distinguished achievements testify to our long-standing efforts
General Meeting – April 24, 2025 Our distinguished achievements testify to our long-standing efforts The Group’s 2024 key ESG performance indicators 49% 86% 100% Reduction in the energy Reduction in greenhouse Waste diverted intensity of our portfolio gases emissions (GHG) from landfill (vs 2013, or
Slide 38: Highly contributive to the environmental transition per the European taxonomy
General Meeting – April 24, 2025 Our business is considered highly contributive to the environmental transition as per the European taxonomy The activity of Klépierre mostly pertains to “acquisition and ownership of buildings” (7.7) as per the EU Taxonomy 72% 70% 76% ALIGNED Turnover ALIGNED CAPEX A
Slide 39: Corporate governance and say-on-pay
E Corporate governance and say-on-pay 39
Slide 40: Corporate governance
01 Corporate governance
Slide 41: Renewal of the Executive Board
Renewal of the Executive Board ─ As a reminder: • Jean-Marc Jestin was reappointed as Chairman and member of the Executive Board, and • Stéphane Tortajada was appointed as Chief Financial Officer and member of the Executive Board, for a three-year term that started on June 22, 2022, and will expire
Slide 42: Supervisory Board – Current composition
Supervisory Board – Current composition B é at rice d e D a vid Simo n J o h n C a r raf iell A n n e C a r ro n C le r mo n t - To n nerre Chairman Vice-Chair and independent Independent member Independent member member St e ven F ive l R o b e r t F ow lds N a d ine G licenst ein St a n ley Sh ash
Slide 43: Review of the composition of the Supervisory Board and its Committees
General Meeting – April 24, 2025 Review of the composition of the Supervisory Board its specialized Committees At its meeting of February 11, 2025, the Supervisory Board noted that: ─ Béatrice de Clermont-Tonnerre’s term of office as member of the Supervisory Board, as well as her duties on the spec
Slide 44: New composition of the specialized committees
General Meeting – April 24, 2025 New composition of the specialized committees Nomination Sustainable Investment Audit and Development Committee Committee Compensation Committee Committee David Simon (Chair) John Carrafiell (Chair, ind.) Anne Carron (Chair, ind.) Robert Fowlds (Chair) Steven Fivel S
Slide 45: Say-on-Pay
02 Say-on-Pay 45
Slide 46: The vote of the shareholders is requested for
General Meeting – April 24, 2025 THE VOTE OF THE SHAREHOLDERS IS REQUESTED FOR: Approving the compensation paid to the corporate officers in 2024 as per compensation policy approved by the previous General Meeting for: • the Chairman of the Supervisory Board, the Chairman of the Executive Board Ex-P
Slide 47: Summary table of 2024 Supervisory Board members' compensation
General Meeting – April 24, 2025 Summary table of 2024 Supervisory Board members’ compensation Supervisory Board Committees Members Chairmanship Total Fixed Attendance-based Attendance-based compensation compensation compensation David Simon 44,000 12,000 24,889 15,186 96,075 John Carrafiell 22,000
Slide 48: Summary table of 2024 Executive Board members' compensation
General Meeting – April 24, 2025 Summary table of 2024 Executive Board members’ compensation Compensation items Jean-Marc Jestin Stéphane Tortajada Base salary €825,000 €500,000 2024 short-term incentive to be paid in 2025 Quantitative part 100% 100% Qualitative part 50% 50% Total (in % of base sala
Slide 49: 2024 executive board compensation based on overall performance
General Meeting – April 24, 2025 The 2024 compensation of the executive board members is predominantly based on the Company’s overall performance ESG criteria account for at least 18% of their variable compensation Jean-Marc Jestin Stéphane Tortajada Chairman of the Executive Board Member of the Exe
Slide 50: Proposed 2025 Supervisory Board members' compensation policy
General Meeting – April 24, 2025 Proposed 2025 Supervisory Board members’ compensation policy Unchanged vs 2024 Offices Compensation Total Chair (Board and Committee) Fixed portion: €22,000 per office €132,000 or Vice-Chair Variable portion: N/A Fixed portion: €12,000 per Board member €108,000 Super
Slide 51: Proposed 2025 compensation policy for Executive Board members (1/2)
In € thousands Proposed 2025 compensation Chairman of the Executive Board policy for Executive Board €4 500 €4 000 members (1/2) €3 500 €3 000 €2 500 LTI Benchmark €2 000 STI €1 500 Base salary European REITs — EPRA French listed companies — SBF 120 €1 000 (Benchmark panel) (Test panel) €500 British
Slide 52: Proposed 2025 compensation policy for Executive Board members (2/2)
Proposed 2025 compensation policy for Executive Board members (2/2) • The new policy would be unchanged over the duration of the Executive Board mandate (i.e., 3 years). Chairman of the Executive Board Member of the Executive Board • Same structure as before Compensation items Current Proposed Curre
Slide 53: Questions & answers
F Questions & answers 53
Slide 54: Presentation of the resolutions and vote
G Presentation of the resolutions and vote 54
Slide 55: Summary agenda - Ordinary resolutions (1/2)
General Meeting – April 24, 2025 Summary agenda - Ordinary resolutions (1/2) Approval of the 2024 financial statements ─ Approval of the Company financial statements for the fiscal year ended December 31, 2024 – Approval of non-deductible expenses and costs ─ Approval of the consolidated financial s
Slide 56: Summary agenda - Ordinary resolutions (2/2)
General Meeting – April 24, 2025 Summary agenda - Ordinary resolutions (2/2) Approval of the 2025 compensation policy for executive and non-executive corporate officers ─ Approval of the 2025 compensation policy for the Chairman of the Supervisory Board and the other members of the Supervisory Board
Slide 57: Summary agenda - Extraordinary resolutions (1/2)
General Meeting – April 24, 2025 Summary agenda - Extraordinary resolutions (1/2) Approval of the 2025 compensation policy for executive and non-executive corporate officers Financialtoauthorizations ─ Authorization be granted to theto be renewed Executive Board, for─a Authorization to be granted pe
Slide 58: Summary agenda - Extraordinary resolutions (2/2)
General Meeting – April 24, 2025 Summary agenda - Extraordinary resolutions (2/2) ─ Authorization to be granted to the Executive Board, for a period of 26 months, to reduce the share capital by canceling treasury shares Authorization to allot free shares Financial authorizations ─ Authorization to b
Slide 59: Vote on resolutions: 1st resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Ordinary General Meeting 1st resolution − Net income of €904,486,240.28 − No non-deductible expenses or charges as defined in Article 39-4 of the French Tax Code (Code général des impôts) and no any add-back ─ Approval of the Co
Slide 60: Vote on resolutions: 2nd resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Ordinary General Meeting 2nd resolution Net income of €1,249,152,000 Approval of the consolidated financial statements for the fiscal year ended December 31, 2024 60
Slide 61: Vote on resolutions: 3rd resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Ordinary General Meeting 3rd resolution − Dividend totaling €530,693,168.20 (i.e., €1.85 per share) out of distributable earnings for the year (€906,495,995.46), including retained earnings (€2,009,755.18) Appropriation of net i
Slide 62: Vote on resolutions: 4th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Ordinary General Meeting 4th resolution No agreements or commitments subject to the provisions on regulated agreements were entered into during the 2024 financial year Approval of the Statutory Auditors' special report on the ag
Slide 63: Vote on resolutions: 5th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Ordinary General Meeting 5th resolution Renewal of Béatrice de Clermont-Tonnerre’s term of office as member of the Supervisory Board for a period of three years expiring at the close of the Ordinary General Meeting to be called
Slide 64: Vote on resolutions: 6th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Ordinary General Meeting 6th resolution Ratification of the provisional appointment of Nadine Glicenstein as member of the Supervisory Board for a period of three years expiring at the close of the Ordinary General Meeting to be
Slide 65: Vote on resolutions: 7th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Ordinary General Meeting 7th resolution These compensation elements have been presented to you and are set out in chapter 6 of the 2024 Universal Registration Document and in the notice of meeting brochure Approval of the inform
Slide 66: Vote on resolutions: 8th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Ordinary General Meeting 8th resolution These compensation elements have been presented to you and are set out in chapter 6 of the 2024 Universal Registration Document and in the notice of meeting brochure Approval of the fixed,
Slide 67: Vote on resolutions: 9th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Ordinary General Meeting 9th resolution These compensation elements have been presented to you and are set out in chapter 6 of the 2024 Universal Registration Document and in the notice of meeting brochure Approval of the fixed,
Slide 68: Vote on resolutions: 10th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Ordinary General Meeting 10th resolution These compensation elements have been presented to you and are set out in chapter 6 of the 2024 Universal Registration Document and in the notice of meeting brochure Approval of the fixed
Slide 69: Vote on resolutions: 11th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Ordinary General Meeting 11th resolution The elements of the 2025 compensation policy have been presented to you and are set out in chapter 6 of the 2024 Universal Registration Document and in the notice of meeting brochure Appr
Slide 70: Vote on resolutions: 12th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Ordinary General Meeting 12th resolution The elements of the 2025 compensation policy have been presented to you and are set out in chapter 6 of the 2024 Universal Registration Document and in the notice of meeting brochure Appr
Slide 71: Vote on resolutions: 13th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Ordinary General Meeting 13th resolution The elements of the 2025 compensation policy have been presented to you and are set out in chapter 6 of the 2024 Universal Registration Document and in the notice of meeting brochure Appr
Slide 72: Vote on resolutions: 14th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Ordinary General Meeting 14th resolution − Cap: 10% of the shares composing the adjusted share capital − Maximum repurchase price: €40 per share − Total amount allocated to the share buyback program (as of 12/31/2024): €1,147,44
Slide 73: Vote on resolutions: 15th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Extraordinary General Meeting 15th resolution − Cap: 10% of the share capital calculated on the date of the cancellation decision, less any shares cancelled during the previous 24 months − Duration: 26 months Authorization to be
Slide 74: Vote on resolutions: 16th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Extraordinary General Meeting 16th resolution − Maximum nominal amount of capital increases: €120 million − Maximum nominal amount of debt securities: €1.5 billion − To be deducted from the overall ceiling under resolution No. 2
Slide 75: Vote on resolutions: 17th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Extraordinary General Meeting 17th resolution − Maximum nominal amount of capital increases: €41 million − Maximum nominal amount of debt securities: €1.5 billion − To be deducted from the nominal limit on capital increases with
Slide 76: Vote on resolutions: 18th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Extraordinary General Meeting 18th resolution − Maximum nominal amount of capital increases: €41 million − Maximum nominal amount of debt securities: €1.5 billion − To be deducted from the nominal limit on capital increases with
Slide 77: Vote on resolutions: 19th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Extraordinary General Meeting 19th resolution − Limit: 15% of the initial issue − Duration: 26 months Delegation of authority to the Executive Board, for a period of 26 months, to increase the number of securities to be issued i
Slide 78: Vote on resolutions: 20th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Extraordinary General Meeting 20th resolution − Cap: 10% of the share capital − To be deducted from de nominal ceiling for capital increases without preferential subscription right under resolutions No. 25 and 26 − To be deducte
Slide 79: Vote on resolutions: 21st resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Extraordinary General Meeting 21st resolution − Maximum nominal amount of capital increases: €100 million − To be deducted from the overall ceiling under resolution No. 22 − Duration: 26 months Delegation of authority to the Exe
Slide 80: Vote on resolutions: 22nd resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Extraordinary General Meeting 22nd resolution − Maximum aggregate nominal amount of immediate and/or future capital increases pursuant to resolutions No. 16 to 21: €120 million − Maximum aggregate amount of debt securities issue
Slide 81: Vote on resolutions: 23rd resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Extraordinary General Meeting − Beneficiaries: 1 plan (mix of performance shares and free shares) o Group 1: members of the top management whose grant is 100% performance shares 23rd resolution o Group 2: all other managers whos
Slide 82: Vote on resolutions: 24th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Extraordinary General Meeting 24th resolution In accordance with the provisions of the “Attractiveness” Law of June 13, 2024, possibility for Supervisory Board members: o to cast a postal vote o to use a means of telecommunicati
Slide 83: Vote on resolutions: 25th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Extraordinary General Meeting 25th resolution In accordance with the provisions of the “Attractiveness” Law of June 13, 2024, the use of the written consultation for any decisions is authorized if Supervisory Board members have
Slide 84: Vote on resolutions: 26th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Extraordinary General Meeting 26th resolution Alignment with the provisions of Article R. 22-10-28 of the French Commercial Code as regards the record date Amendment to paragraph 1 of Article 27 of the Company's bylaws to bring
Slide 85: Vote on resolutions: 27th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Extraordinary General Meeting 27th resolution − In accordance with the provisions of the “Attractiveness law” of June 13, 2024, alignment with the provisions of Articles L. 225-82 and L. 225- 103-1 of the French Commercial Code
Slide 86: Vote on resolutions: 28th resolution
General Meeting – April 24, 2025 Vote on resolutions Resolutions of the Ordinary General Meeting 28th resolution Requesting all necessary powers to carry out the publication and filing formalities in connection with the holding of this General Meeting Powers for formalities 86
Slide 87: Agenda
Agenda July 08, 2025 Ex-dividend date for the final dividend payment July 09, 2025 Record date for the final dividend payment July 10, 2025 Final dividend payment July 30, 2025 First-half 2025 earnings (post market) 87
Slide 88: Klépierre
KLEPIERRE SHOP. MEET. CONNECT. °