Vitura : 2023 Universal registration document

Vitura: Real estate for the future

Since its creation, Vitura has pursued the same strategy with care and determination: developing an exceptional portfolio exclusively comprising large-scale,high-end properties located in the most sought-after business districts in Paris and Greater Paris. Each one of these properties attracts dynamic, creditworthy companies, ensuring high, stable revenue streams. They all offer high potential for value creation, leveraged constantly by Vitura's teams.

2023 saw the completion of two exemplary renovations: Arcs de Seine and Rives de Bercy. Both built on the concept of a flexible, regreened campus popular among new generations of young professionals, which Vitura previously developed at the Europlaza tower, and made it their own. Renovated to the highest standards of design, service and environmental performance, these two campuses will continue to set the standard in their respective locations - one in western Paris, the other in the east of the city.

Drawing on the success of these projects, Vitura is ready to begin the transformation of Office Kennedy and Passy Kennedy, its two most recent acquisitions, into an exceptional 35,000 sq.m complex offering wide views over the Seine and the Eiffel Tower.

Vitura shares have been traded in compartment B of the Euronext Paris stock exchange since March 2006. The Company has elected for the status of listed real estate investment company (société d'investissement immobilier cotée - SIIC).

€1.3bn

portfolio value (excluding transfer duties) at December 31, 2023

200,000 sq.m

portfolio

• office buildings

in Paris and Greater Paris

"Lackluster economic conditions in France have not impacted Vitura's successful letting activity, with the occupancy rate of our buildings in operation rising by

2 percentage points"

With the war in Ukraine, the ongoing trade tension between the United States and China and the recent outbreak of a new conflict in the Middle East, economic players continue to face a challenging geopolitical backdrop. 2024, an election year in the US and Europe, may add to this uncertainty.

Despite all of this, financial markets performed well over the last year. In the eurozone, inflation and interest rates are on the path to stabilization. Focusing on the real estate sector, we have seen a sharp correction in property values driven predominantly by the increase in capitalization rate. Vitura's portfolio value declined by 13%, in line with other companies in the sector.

Economic conditions are lackluster in Europe and France, with growth forecast at just 0.6% p.a.; this has not impacted Vitura's successful letting activity, with the occupancy rate of our buildings in operation rising by 2 percentage points since December 31, 2022. In 2024, Paris is hosting the Olympic and Paralympic Games, which will shine a spotlight on the city.

In a difficult financial market, the team is working hard to secure all the necessary capital to launch the transformation of Office Kennedy and Passy Kennedy into a single 34,000 sq.m campus meeting the

highest design, technical and environmental standards.

"The market's response to our most recent achievements gives us the confidence to continue the investments in our portfolio to create value for our shareholders"

In early 2024, Vitura signed the first lease for the repositioned 32,000 sq.m at Rives de Bercy, just three months after its delivery. Nearly 20%, or 5,600 sq.m, will be occupied by a prestigious French industry player. Following an exemplary renovation, the campus offers the full range of premium spaces and amenities expected by new generations: landscaped gardens, lounges, a fitness center with on-site coach, a business center, a restaurant and cafeteria and infrastructure dedicated to cycling.

Another two of Vitura's properties, which underwent ambitious, responsible repositioning prior to the Rives de Bercy renovation, continue to attract tenants. Bouygues Telecom has moved back into Arcs de Seine, where it was headquartered until 2011, raising the occupancy rate of the development to 91%. Bpifrance, the French public institution providing financing to entrepreneurs, has moved into the Europlaza tower, which maintains its occupancy rate at 82%.

One of the keys to Vitura's strategy is our commitment to the environment. Our renovation programs always include a major component devoted to cycling. At Rives de Bercy, tenants have access to a 174-space bike park with electric charging stations along with showers and changing rooms, as well as direct access to the new cycle lanes that run along the Seine into the heart of Paris. More and more tenants have integrated this means of transportation into their decision making. These achievements give us the confidence to continue the investments in our portfolio to create value for our shareholders.

Fruition

Completion of the renovation of the

32,000 sq.m Rives de Bercy campus, which has been brought up to the highest standards of design and services. Centered around its gardens, the building complex fosters well-being and soft mobility.

The carbon footprint of the sustainable transformation was 26 times smaller than had the campus been demolished and rebuilt.

Excellence

Arcs de Seine, leading the way for new approaches to using offices, has a 91% occupancy rate. Popular with the most dynamic companies, its concept, developed at Europlaza, has been applied to Rives de Bercy, with Office Kennedy and Passy Kennedy to follow suit.

Future

A building permit has been granted

to combine the Passy and Office Kennedy buildings in an exceptional 34,000 sq.m complex in central Paris. Once the financial conditions are met, Vitura is ready to spring into action.

Commitment

Vitura once again has a GRESB(1) 5-star rating in the listed office property companies category for its sustainable strategy.

Vitura has also, as in previous years, received two EPRA(2) Gold Awards for the quality and transparency of its financial

and non-financial reporting.

Transition

The energy efficiency plans put in place during the 2022 energy crisis continue. Spurred on by Vitura, the monitoring committees for the plans have become ESG communities, engaging all stakeholders

in a collaborative drive for continuous improvement.

Appeal

Leases have been signed, extended or renewed on 13,000 sq.m with prestigious clients: Bouygues Telecom at Arcs de Seine, Bpifrance at Europlaza, and Brandt

at Hanami.

since 2013

83%

Each in turn, Vitura's properties undergo ambitious investment programs, always a step ahead of companies' and employees' expectations.

Following on from Europlaza and Arcs de Seine, Vitura has just finalized the 32,000 sq.m Rives de Bercy campus, which now offers the same high service and environmental standards. Both its private and shared spaces, indoors and outdoors, have been made even more flexible and inspiring. For their users, they set a new scene for creativity and agility. The renovations of Office and Passy Kennedy, scheduled for 2024, will continue along the same vein.

Thanks to this renovation strategy, which has been rigorously pursued for over 15 years, Vitura's six buildings retain an asset value and value in use comparable to new-build equivalents. Well maintained to conserve maximal appeal, they continue to set the standard in the most popular areas of Paris and Greater Paris.