Unibail-Rodamco-Westfield: Deferral of conversions between CDIs and stapled shares in respect of upcoming interim dividend

Paris, Amsterdam, March 18, 2020

Press release

Deferral of conversions between CDIs and stapled shares in respect of upcoming interim dividend

Unibail-Rodamco-Westfield ("URW") has previously announced that Wednesday March 25, 2020, will be the record date for the purpose of determining CHESS Depositary Interest ("CDI") holders' entitlement to the upcoming interim dividend to be paid to CDI holders on Thursday April 9, 2020, in respect of stapled shares underlying the CDIs.

URW has sought and been granted waivers from the ASX of ASX Settlement Operating Rules 13.9.4 and 13.9.9 to allow URW to defer, and not to process, conversions between its stapled share and CDI registers during the period commencing on and including the two business days before the dividend record date (i.e., commencing on Monday, March 23, 2020) and ending on and including the dividend record date (i.e., ending on Wednesday, March 25, 2020).

The waivers will prevent a person from inappropriately receiving dividends and also provide time for pre-deferral conversion requests to be successfully matched and completed prior to the dividend record date, in each case taking account of the cross-border conversion processes and/or timing considerations in Europe and Australia.

For further information, please contact:

Investor Relations Samuel WarwoodMaarten Otte [phone] [e-mail]

Media Relations Tiphaine Bannelier-Sudérie [phone] [e-mail]

About Unibail-Rodamco-Westfield

Unibail-Rodamco-Westfield is the premier global developer and operator of Flagship destinations, with a portfolio valued at €65.3 Bn as at December 31, 2019, of which 86% in retail, 6% in offices, 5% in convention & exhibition venues and 3% in services. Currently, the Group owns and operates 90 shopping centres, including 55 Flagships in the most dynamic cities in Europe and the United States. Its centres welcome 1.2 billion visits per year. Present on 2 continents and in 12 countries, Unibail-Rodamco-Westfield provides a unique platform for retailers and brand events, and offers an exceptional and constantly renewed experience for customers. With the support of its 3,600 professionals and an unparalleled track-record and know-how, Unibail-Rodamco-Westfield is ideally positioned to generate superior value and develop world-class projects. The Group has a development pipeline of €8.3 Bn.Unibail-Rodamco-Westfield distinguishes itself by its Better Places 2030 agenda, that sets its ambition to create better places that respect the highest environmental standards and contribute to better cities. Unibail-Rodamco-Westfield stapled shares are listed on Euronext Amsterdam and Euronext Paris (Euronext ticker: URW), with a secondary listing in Australia through Chess Depositary Interests. The Group benefits from an A rating from Standard & Poor’s and from an A2 rating from Moody’s.

For more information, please visit www.urw.comVisit our Media Library at https://mediacentre.urw.comFollow the Group updates on Twitter @urw_group, Linkedin @Unibail-Rodamco-Westfield and Instagram @urw_groupAccess the URW 2018 report at https://report.urw.com/2018/

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• Deferral of conversions between CDIs and stapled shares in respect of upcoming interim dividend