Launch by Unibail-Rodamco of net share settled bonds convertible into new shares and/or exchangeable for existing shares (ORNANE) due July 1, 2021 - Seite 2

The Company also has the option to deliver new and/or existing shares of Unibail-Rodamco only.

The Bonds are offered today through a private placement in France and outside of France, with the exclusion of the United States of America, Canada, Australia and Japan, and will be followed by a public offer in France from June 18, 2014 to June 20, 2014, 17.00 (Paris time), subject to the granting of the visa by the AMF on the prospectus relating to this transaction.

The final terms of the offering are expected to be determined on June 17, 2014.

The issue and settlement date of the Bonds is expected to occur on June 25, 2014.

An application for listing of the Bonds on the regulated market of Euronext in Paris ("Euronext Paris") will be made.

This issue is managed by BNP PARIBAS, Bank of America Merrill Lynch, Crédit Agricole CIB and Deutsche Bank acting as Global Coordinators and Lead Managers and Bookrunners.

About Unibail-Rodamco

Created in 1968, Unibail-Rodamco SE is Europe's largest listed commercial property company, with a presence in 12 EU countries, and a portfolio of assets valued at €32.1 billion as of December 31, 2013. As an integrated operator, investor and developer, the Group aims to cover the whole of the real estate value creation chain. With the support of its 1,500 professionals, Unibail-Rodamco applies those skills to highly specialised market segments such as large shopping centres of major European cities, and large offices and convention & exhibition centres in the Paris region.
The Group distinguishes itself through its focus on the highest architectural, city planning and environmental standards. Its long term approach and sustainable vision focuses on the development or redevelopment of outstanding places to shop, work and relax. Its commitment to environmental, economic and social sustainability has been recognised by inclusion in the DJSI (World and Europe), FTSE4Good and STOXX Global ESG Leaders indices. The Group is a member of the CAC 40 in Paris, AEX 25 in Amsterdam and Euro STOXX 50 indices. It benefits from an A rating from Standard & Poor's and FitchRatings.

For more information, please visit our website: www.unibail-rodamco.com

(1) The reference share price will be equal to the volume-weighted average price of Unibail-Rodamco's shares on Euronext from the launch of the transaction until the determination of the final terms of the Bonds.

For further information, please contact:

Investor Relations

Pierre-Marie Battesti