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Q1 2015:

Keep on delivering

FONCIÈRE DES RÉGIONS

> KEY EVENTS OF THE PERIOD

> OPERATING PERFORMANCE

> KEY TAKEWAYS

Q1 2015 2

CONTENTS

Key events of the period

Q1 2015 3

FONCIÈRE DES RÉGIONS

STRATEGIC POSITIONING

A €10.7 billion1 GS portfolio (€17.3 billion at 100%) on buoyant markets

1 focus and 2 diversifications

4

62%

18%

13%

7%

€10.7 bn GS

Q1 2015

Offices (France 43%; Italy: 19%) > Sound fundamentals; market depth > Attractive yield; value-creating pipeline

Residential Germany > Sound economy; buoyant market

> Organic growth and development potential

Hotels/Service sector > Leadership position; impressive track record

> Attractive market; partnership logic

Non-strategic

Recognised, responsive local platforms

KEY EVENTS OF THE PERIOD

Vélizy-Meudon, Paris Region Residential, Hamburg

1 At end-march 2015 post signed operations

FONCIÈRE DES RÉGIONS

MAJOR AGREEMENT WITH TELECOM ITALIA

Q1 2015 5

An agreement leading to 3 main improvements on asset and cash-flow quality

€1.7 bn of assets

(€0.8 bn GS)

2nd largest tenant (10% of the GS rental income)

6.7-year average firm lease

maturity

Reap the benefits of the partnership strategy

Milan

8.4% of the

portfolio GS

€117 m of rental income

(€57 m GS)

1 Improved cash-flow visibility

2 Improved asset quality

3 Reduction of

Telecom Italia exposure

> +9 years of average firm lease maturity to 15 years

> 6.9% discount on the rents on average

> €38 million capex program on city center assets

(alongside with Telecom Italia)

> €126 million disposal of secondary assets

to Telecom Italia, at last appraisal values

Naples

KEY EVENTS OF THE PERIOD

Portfolio rented to Telecom Italia

FONCIÈRE DES RÉGIONS

FRANCE OFFICES: PURSUANCE OF THE PIPELINE

Q1 2015 6

Delivery of Astrolabe in Euromed center, Marseille

> 14,000m²; €38 million (€19 million GS); 35% let, at target rents (€250/m²)

Inauguration of Steel, Paris 16th district on May 6th

> Refurbishment of 3,700m²; €36 million of investments; €600/m² target rents

Foundation stone of Silex 1: construction of 10,600m²

> Key location: at the heart of La Part-Dieu

Largest business district in Lyon of 1 million of m² of offices; vacancy rate <4%

> Delivery in 2016: €47 million; €280/m² of target rents

Committed pipeline

€518 million

62% Pre-let

71% for 2015

deliveries

Yield on cost > 7%

Value creation > 10%

€309m delivered in

2015

Silex 1, Lyon

Silex 1, Lyon

KEY EVENTS OF THE PERIOD

FONCIÈRE DES RÉGIONS

Already €457 million of acquisitions signed (€266 million GS)

> High-quality portfolios; prime locations; 25-30% reversionary potential; privatization potential

> Pursuit of the strengthening in Berlin (€182 million) and in Dresden and Leipzig (€37 million)

1,486 units; €1,710/m² on average; 5.5% yield

> First investments in Hamburg: €239 million (€138 million GS)

High potential market driven by positive economic and demographic fundamentals

2,088 units; €1,860/m²; 5.5% average yield

DELIVERING IN GERMAN RESIDENTIAL

Q1 2015 7

€3.2 billion (€1.9 billion GS) of assets

KEY EVENTS OF THE PERIOD

Rating ImmoScout24

Investments in the best locations of high rental growth potential cities

Berlin Hamburg

> Localizations (blue spots) of the €182 million and €239 million investments in Berlin and Hamburg

FONCIÈRE DES RÉGIONS

HOTELS: STRENGTHENING THE LEADERSHIP POSITIONING

Q1 2015 8

KEY EVENTS OF THE PERIOD

Acceleration of acquisitions in Europe: €277 million including €210 million in Germany

> 22 B&B hotels in the largest cities in Germany: €128 million (€51 million GS), 18-year leases, 6.4% yield

> 2 Motel One hotels in Berlin-Mitte and Frankfurt-Airport: €34 million (€15 million GS), 20-year leases

> First investments in management contracts: €104 million (€18 million GS)

€48 million in Germany with Louvre Hotels Group

€56 million development with Accor at Paris-Charles-de-Gaulle Airport

Major reinforcement in Hotels

> Acquisition of 14.6% of Foncière des Murs (FDM): Foncière des Régions controls (as limited partner) and holds 43% of FDM

> This transaction represents an investment of €432 million of assets

> Positive impacts:

Hotels/Service Sector represents 13% of the portfolio vs 9% at end-2014

High and secure profitability (100% occupancy rate; 94% operating margin; firm lease maturity of 6.7 years)

B&B Hotel, Paris Motel One, Berlin Accor, Paris Region Motel One, Berlin

FONCIÈRE DES RÉGIONS

STABLE AND STRONG SHAREHOLDER STRUCTURE

Q1 2015 9

Success of the capital increase

> €255 million to finance ongoing investments

> Participated in by all the large shareholders of Foncière des Régions

> 3,917,722 new shares (i.e. 6.2% of the share capital)

Best-in-class governance, strengthened by the General Meeting

> Nomination of Delphine Benchetrit as new independent Board Member

> Upholding the rule 1 share = 1 vote

> Adoption of all the resolutions with an average approval rate of 97%

> 57% of independent members vs 50% in 2014; 36% of women members vs 29%;

29% of international members

7% 28%

8%

13%

44%

ACM

Groupe Crédit Agricole

Public

Covea

Delfin

Shareholder structure post capital

increase

Supporting the Group’s development and strategy

KEY EVENTS OF THE PERIOD

Delphine Benchetrit

Operating performance

Q1 2015 10

FONCIÈRE DES RÉGIONS

Q1 2015 REVENUES: +1.1% AT €132.9 MILLION

Q1 2015 11

Rental income

(€m) Change

Change on like-for-like

basis

Occupancy rate

Residual firm terms

of leases post Telecom Italia

agreement

Offices - France 57.0 -7.4% +0.3% 96.3% 5.1 years

Offices - Italy 27.2 -7.2% -2.9% 95.4 %1 10.2 years

Offices 84.2 -7.3% -0.8% 96.0% 6.6 years

Residential Germany 26.8 +10.1% +1.3% 97.7% N/A

Hotels/Service Sector 18.1 +55.5% +1.1% 100 % 6.7 years

Other (French Resi.) 3.7 N/A N/A N/A N/A

Total 132.9 +1.1% -0.1% 96.9% 6.6 years

Positive indexation

+4.1 years of maturity

-0.4% excl. Turin 2014 vacancy

+2.9% in Berlin, Dresden and Leipzig

+1 year with Telecom Italia

Indexation: +0.7%

Occupancy rate: -0.7%

Renewals: -0.1%

1 Core portfolio

+1.5% in Hotels including +2.2% for Accor portfolio

Our diversifications outperform on rental growth

OPERATING PERFORMANCE

> Increase in the firm lease maturity: +1 year to 6.6 years with Telecom Italia agreement

> Italy: negative impacts of Turin 2014 vacancy (disposal to the municipality under discussions)

Key takeaways

Q1 2015 12

FONCIÈRE DES RÉGIONS

KEY TAKEAWAYS FROM Q1 2015

Q1 2015 13

Strengthening of our cash-flow visibility

Telecom Italia agreement: +1 year at 6.6 years firm lease maturity for Foncière des Régions

Strengthening of our strategic positioning

€1.5 billion (€1.0 billion GS) of investments already signed including €1.2 billion of acquisitions

Dynamic investment activity in Hotels and German Residential

Resistance in our operating indicators

Stable like-for-like rents; high occupancy rate

A good start to the year

Motel One, Berlin Motel One, Berlin Via de Pretis, Naples Residential, Hamburg Silex 1, Lyon

KEY TAKEAWAYS

FONCIÈRE DES RÉGIONS

AGENDA

Q1 2015 14

H1 2015 results: 23 July 2015

FONCIÈRE DES RÉGIONS 15

(€ million)

100% Group Share

Q1 2014 Q1 2015 Change

(%) Q1 2014 Q1 2015

Change (%)

Change (%) LFL

% of rent

Offices France 64.7 60.3 -6.9% 61.6 57.0 -7.4% 0.3% 43%

Offices Italy 57.6 56.3 -2.2% 29.3 27.2 -7.2% -2.9% 20%

Total Offices 122.3 116.6 -4.7% 90.9 84.3 -7.3% -0.8% 63%

Hotels and Service sector 45.4 46.5 2.3% 11.7 18.1 55.5% 1.1% 14%

Residential Germany 41.1 44.5 8.3% 24.4 26.8 10.1% 1.3% 20%

Total Strategic activities 208.8 207.6 -0.6% 127.0 129.2 1.8% -0.1% 97%

Other 7.7 6.1 -21.0% 4.6 3.7 -19.0% na 3%

Total rents 216.5 213.7 -1.3% 131.6 132.9 1.1% -0.1% 100%

Total rent does not take into account rental income from Logistics (€4.9 million), reclassified in 2014 as Discontinued Operations

Q1 2015 TURNOVER

Q1 2015

FONCIÈRE DES RÉGIONS

Paris 30, avenue Kléber 75116 Paris Tel.: +33 1 58 97 50 00

Contact Paul Arkwright Tel.: +33 1 58 97 51 85 Mobile: +33 6 77 33 93 58 paul.arkwright@fdr.fr

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