PRESS RELEASE November 6, 2018

Carmila starts the extension work for the Carrefour Nice Lingostière shopping centre On Monday, November 5, the Carmila, Carrefour Property and Carrefour teams laid the foundation stone for the Nice Lingostière shopping centre extension program in the presence of Christian Estrosi, Mayor of Nice, President of the Nice Côte d’Azur Urban Community, Vice President of the Provence-Alpes-Côte-d’Azur Region, Jacques Ehrmann, Carmila’s CEO and local partners. With 100 retail brands for a total surface area of 20,000 m², this project aims to make the historic center of Nice Lingostière a major hub of the Côte d’Azur’s economic capital. Expected opening: 2nd half of 2020

A Nice site with regional influence, from the coastline to the hinterland

Opened in 1978 and renovated in 2014, the Nice Lingostière shopping centre enjoys a strategic location between Nice’s city center, Cagnes-sur-Mer and Saint-Paul-de-Vence, as far as the Alps, touching nearly 760,000 inhabitants who are within 50 minutes, plus 4 million tourists in the summer. As part of Carrefour’s 3rd largest hypermarket in France, the centre welcomes 5.5 million visitors a year. With a customer base composed of families, executives and seniors, it has a loyal public with high purchasing power.

Located within the Eco-Vallée area, an exemplary eco-site for demonstrating and experimenting at European scale, the Carrefour Nice Lingostière shopping centre is one of the business hub’s major socio-economic players. Its challenges are fully integrated into those of the territory: capitalizing on the existing potential while adopting a global and innovative strategy to dynamize all sectors of activities in a sustainable manner.

In order to both meet the expectations of residents wishing a wider commercial offer and support the region’s strong urban and economic development, Carmila, Carrefour’s shopping centre company, started an extension project as soon as it acquired the site in 2014. Designed in collaboration with all local stakeholders, this project aims to breathe new life in the historic Carrefour Nice Lingostière centre for the urban area’s gateway. Its goal is to offer specialized retail brands, shops and restaurants for all inhabitants of Nice and its hinterland, as well as people who work in the Eco-Vallée urban development area. The centre’s merchandising mix will thus increase from 50 retail brands on 8,000 m² to 100 retail brands for a total surface area of 20,000 m² in 2020. As co-sponsors of the operation, Carrefour Property and Carmila are financing the project for 70 million Euros. It is estimated that 400 new jobs will be created in the new stores, adding to the site’s existing 1,000 jobs.

Jacques Ehrmann, Carmila CEO: “Produced in perfect collaboration with the Nice Côte d’Azur City, the Carrefour Nice Lingostière centre extension program is a major project for the area. It aims to strengthen the attractiveness of a leading economic center for the city by hosting a new commercial offering serving Nice and its hinterland. We are very proud of the architectural and environmental qualities of this human-sized project imagined by Jean-Michel Wilmotte.”

A modern and elegant architecture Designed as a place to live with generous and warm spaces, secure pedestrian walkways, dining areas and terraces, the centre is signed by Jean-Michel Wilmotte, who designed the Allianz Riviera stadium. His architectural project gives way to high lines and structures with high windows allowing the retail brands to express themselves. . Project team led by Carrefour

Property and Carmila.

. MOD Works team: Carrefour

Property France Management and the project management group with the architects Wilmotte & Associés, the MOE EGIS, the AMO (M2C) and the project leaders (Logik and ACP-I) THE KEY POINTS

. A facade that can be seen from the road,

. An architectural project in harmony with the Nice’s environment,

. A bright and pleasant gallery extension, parallel to an existing renovated gallery

. A new, more comfortable, shaded parking lot close to shops and equipped with a parking spot

guiding system,

. Respect for the BREEAM environmental certification, with a “Very Good” level as a goal,

. The preservation of biodiversity by planting more than 350 trees, for a total of 17,300 m² of green

space.

The new shopping destination for Nice and its hinterland

Ludovic Boudet, director of the shopping centre: “Nice Lingostière will welcome new, modern and popular retail brands. Clothes, beauty products, optics, phones, video games, restaurants, etc.

Hospitality and conviviality are at the heart of our approach with play areas, warm and colorful relaxation areas and dining areas. It is a true metamorphosis that was expected of Nice, and

that we wanted to be at their image, positive and colorful.” VERY ATTRACTIVE RETAIL BRANDS

Sephora, Yves Rocher, SFR, Krys, McDonald’s, Celio, Orange, etc., are already among the emblematic retail brands of the shopping centre. The project involves the installation of 50 new retail brands. Thus, the announcement of the arrival of three new large stores: a 3,000 m² Zôdio, a 2,400 m² H&M and a 1300 m² Kiabi. NEW GENERATION SERVICES . For the visitors, connected services to get directions, get informed, compare or reserve the stores’

products and services. And a high-quality WiFi++ connection that is always free and unlimited for our

customers.

. For retailers, targeted local and digital marketing actions with “Le Kiosque”, proposed by the

centre’s management as a way to boost the attractiveness of the points of sale.

The Nice Lingostière shopping centre in 2020

100 retail brands coming up with leading international brands

400 new jobs in future shops

Redesign of road access to optimize traffic

1 Carrefour hypermarket and a renovated gallery 1 restaurant centre

2,550 parking spaces that are closer, more spacious and shaded

New forecourt and landscaped terraces Synergies with surrounding businesses and the theater

About the Carrefour Nice Lingostière shopping centre Opened in 1978, the Carrefour Nice Lingostière shopping centre is located in the heart of the Eco-Valley, in a growing commercial area. Serving a catchment area of 750,000 inhabitants, it offers a complete commercial offer of 50 shops and a Carrefour hypermarket and welcomes more than 5.5 million visitors a year. Owned by Carmila since April 2014, the Carrefour Nice Lingostière shopping centre was completely renovated in 2014 Learn more by visiting the centre’s website

About Carmila

Carmila was founded by Carrefour and large institutional investors in order to develop the value of shopping centres anchored by Carrefour stores in France, Spain and Italy. Its portfolio consists of 214 shopping centres in France, Spain and Italy, mostly leaders in their catchment areas, and is valued at €6.3 billion. Inspired by a genuine retail culture, Carmila's teams include all of the expertise dedicated to retail attractiveness: leasing, digital marketing, specialty leasing, shopping

centre management and portfolio management. Carmila is listed in Compartment A of Euronext Paris under code CARM. It benefits from "SIIC" real estate investment trust (REIT) tax status. On 18 September, 2017, Carmila joined the FTSE EPRA/NAREIT Global Real Estate (EMEA Region) indices. On 24 September 2018, Carmila joined the Euronext CAC Small, CAC Mid & Small and CAC All-tradable indices. More info on http://www.carmila.com/

HD visuals upon request

Press contracts:

Morgan Lavielle

Communications Director

morgan_lavielle@carmila.com

06.87.77.48.80