MULTI CORPORATION IS A LEADING PROPERTY COMPANY IN EUROPE, DEVELOPING, OWNING

AND OPERATING QUALITY SHOPPING CENTRES, OFFICES AND MIXED-USE PROJECTS THROUGH

ITS SUBSIDIARIES:

BUILD UP A DIVERSIFIED

PORTFOLIO OF FIRST CLASS

SHOPPING CENTRES

SET UP AND SPONSORS

REAL ESTATE

INVESTMENT FUNDS FOR

INSTITUTIONAL CLIENTS

DEVELOP LARGE-SCALE

MIXED-USE SHOPPING

CENTRES, INNER-CITY

REGENERATION

PROJECTS AND OFFICES

GET THE BEST OUT OF

SHOPPING CENTRES FOR

CUSTOMERS,

SHOPKEEPERS AND

OWNERS, AND TO HELP

RETAILERS TO ACHIEVE

TOP PERFORMANCE

WITHIN AN

ENVIRONMENT OF

SUSTAINABLE QUALITY

OUR ORGANIZATION

OUR

PORTFOLIO

. PORTUGAL

. SPAIN

. CZECH REPUBLIC

. GERMANY

. TURKEY

. ITALY

. BELGIUM

. UNITED KINGDOM

. THE NETHERLANDS

. POLAND

COUNTRIES WHERE MULTI MALL MANAGEMENT IS OPERATING

11 YEARS EXPERIENCE

ABOUT 200 PROFESSIONALS ACROSS

EUROPE

ABOUT 40 SHOPPING CENTRES

ABOUT 1.300.000 m2 GLA

MORE THAN 4.000 TENANTS

YEARLY ESTIMATED SALES €4 BILLION

OUR FIGURES IN EUROPE

OVER 100 PROFESSIONALS IN PORTUGAL

14 SHOPPING CENTRES (INCLUDING A RETAIL PARK)

OVER 400.000 SQM OF SHOPPING CENTRES

ABOUT 2.100 TENANT CONTRACTS

GLOBAL SALES OF €900 MILLION

OVER 75 MILLIONS VISITORS

OVER 2 BILLION EUROS OF ASSET VALUE IN PORTUGAL

OUR FIGURES IN PORTUGAL

OPERATING

PORTUGALSHOPPING CENTRES

FORUM MADEIRA

FORUM ALGARVE

ALMADA FORUM

FORUM MONTIJO

ARMAZÉNS DO CHIADO

FORUM COIMBRA

FORUM VISEU

FORUM CASTELO BRANCO

FORUM AVEIRO

PARQUE MONDEGO

FORUM BARREIRO

FORUM SINTRA

ESPAÇO GUIMARÃES

W SHOPPING

OUR

PHILOSOPHY

OUR MANAGEMENT PHILOSOPHY IS BASED ON A KNOW-HOW

PROVIDER

. TO REINFORCE THE BENEFITS GENERATED BY EACH SHOPPING CENTRE IN ASPECTS SUCH AS

CUSTOMER SERVICE, COMFORT AND CONVENIENCE

. TO REINFORCE THE ROLE OF THE SHOPPING CENTRES AS MAGNETS FOR THE DEVELOPMENT

AND REVIVAL OF THE URBAN CENTRES IN WHICH THEY ARE LOCATED

. TO REINFORCE OUR SUSTAINABILITY POLICY PROMOTING OUR ECO EFFICIENCY

. TRAINING AND DEVELOPING SKILLED PERSONS IS OUR MAIN GOAL – BUSINESS SCHOOL

. REALISING THE OPPORTUNITY FOR DIFFERENTIATION AND QUALITY IN

THE MANAGEMENT OF PROPERTY ASSETS IN PORTUGAL

. MULTI MALL MANAGEMENT INTERNATIONAL USES

PORTUGAL AS A TRAINING GROUND

FOR MULTI MALL MANAGEMENT’S MANAGEMENT TEAMS THROUGHOUT EUROPE

MULTI MALL MANAGEMENT HAS THE OBLIGATION TO CONSIDER THE INTERESTS OF CUSTOMERS,

EMPLOYEES, SHAREHOLDERS, COMMUNITIES, AND ECOLOGICAL CONSIDERATIONS IN ALL ASPECTS

OF THEIR OPERATIONS. THIS OBLIGATION IS SEEN TO EXTEND BEYOND OUR STATUTORY OBLIGATION

TO COMPLY WITH LEGISLATION.

MMM SUSTAINABLE POLICY IS CLOSELY LINKED WITH THE PRINCIPLES OF SUSTAINABLE

DEVELOPMENT. ENTERPRISES SHOULD MAKE DECISIONS BASED NOT ONLY ON FINANCIAL FACTORS

SUCH AS PROFITS OR DIVIDENDS, BUT ALSO BASED ON THE IMMEDIATE AND LONG-TERM SOCIAL AND

ENVIRONMENTAL CONSEQUENCES OF THEIR ACTIVITIES.

CORPORATE RESPONSIBILITY – ELEMENTS:

RESPONSIBLE CONSTRUCTION

RESPONSIBLE PROPERTY MANAGEMENT HUMAN

RESOURCES/EMPLOYEES

COMMUNITY ENGAGEMENT

RISK MANAGEMENT

RESPONSIBLE PROCUREMENT

RESPONSIBLE BUSINESS CONDUCT

COMMUNICATION

MULTI MALL MANAGEMENT CORPORATE

RESPONSABILITY

MULTI MALL MANAGEMENT HAS THE OBLIGATION TO CONSIDER THE INTERESTS OF CUSTOMERS,

EMPLOYEES, SHAREHOLDERS, COMMUNITIES, AND ECOLOGICAL CONSIDERATIONS IN ALL ASPECTS

OF THEIR OPERATIONS. THIS OBLIGATION IS SEEN TO EXTEND BEYOND OUR STATUTORY OBLIGATION

TO COMPLY WITH LEGISLATION.

MMM SUSTAINABLE POLICY IS CLOSELY LINKED WITH THE PRINCIPLES OF SUSTAINABLE

DEVELOPMENT. ENTERPRISES SHOULD MAKE DECISIONS BASED NOT ONLY ON FINANCIAL FACTORS

SUCH AS PROFITS OR DIVIDENDS, BUT ALSO BASED ON THE IMMEDIATE AND LONG-TERM SOCIAL AND

ENVIRONMENTAL CONSEQUENCES OF THEIR ACTIVITIES.

MULTI MALL MANAGEMENT CORPORATE RESPONSABILITY

CORPORATE RESPONSIBILITY – ELEMENTS:

. RESPONSIBLE CONSTRUCTION

. RESPONSIBLE PROPERTY MANAGEMENT HUMAN

. RESOURCES/EMPLOYEES

. COMMUNITY ENGAGEMENT

. RISK MANAGEMENT

. RESPONSIBLE PROCUREMENT

. RESPONSIBLE BUSINESS CONDUCT

. COMMUNICATION

MULTI MALL MANAGEMENT SUSTAINABILITY PRIORITY AREAS

TO DEVELOP A SYSTEMATIC SUSTAINABILITY APPROACH, SEVEN CORE PRIORITY AREAS HAVE BEEN

IDENTIFIED:

ENVIRONMENT, COMMUNITY, INVESTORS, EMPLOYEES, TENANTS / CUSTOMERS, SUPPLY CHAIN,

COMMUNICATION.

. TO MANAGE ENVIRONMENTAL STRATEGIES WITH THE ECONOMIC GROWTH

. TO REINFORCE OUR SUSTAINABILITY POLICY

. TO PROMOTE OUR PROJECTS’ ECO EFFICIENCY

MULTI MALL MANAGEMENT ENVIRONMENTAL POLICY

MULTI MALL MANAGEMENT ESTABLISHED THE ENVIRONMENTAL MANAGEMENT

SYSTEM

OUR ENVIRONMENTAL MANAGEMENT SYSTEM IS CERTIFICATED UNDER...

ISO 14001

INTERNATIONAL ORGANIZATION FOR STANDARDIZATION

SHOPPING CENTRES’ ENVIRONMENTAL CERTIFICATION

* THE FIRST PORTUGUESE SHOPPING CENTRE TO BE AWARDED ISO 14001 CERTIFICATION

ALL OUR SHOPPING CENTERS COMPLY WITH EU ENVIRONMENTAL LAW

OUR ENVIRONMENTAL MANAGEMENT SYSTEM ALLOWED US TO

ACHIEVE THE FOLLOWING PERFORMANCE...

. REDUCING AROUND 13% OF SHOPPING CENTRES’ WASTE PRODUCTION (2008)

- INCREASING AROUND 2% OF RECYCLING SHOPPING CENTRES’ WASTE PRODUCTION (41%

IN 2008)

. REDUCING AROUND 13% OF ENERGY CONSUMPTION (2008)

. REDUCING AROUND 11% OF WATER CONSUPTION (2008)

QUALITY MEANS MAKING OURSELVES AND OUR WORLD BETTER

QUALITY DEFINES AND DRIVES SUCCESSFUL INDIVIDUALS, ORGANIZATIONS AND COMMUNITIES

AND IT NEVER STOPS EVOLVING

OUR

COMMITMENT

UNDER DEVELOPMENT SHOPPING CENTRES’

. TO GIVE ADDED VALUE TO NEW PROJECTS IN CONCEPTUAL DESIGN AND TENANT MIX

. TO ANALYSE AND MONITOR THE SHOPPING CENTRE CONSTRUCTION AND PROMOTION

PHASES

. TO MONITOR THE OPENING EVENT

. TO KEEP A PARTNER RELATIONSHIP BETWEEN MULTI MALL MANAGEMENT AND

INVESTORS TARGETS

. TO BRING TO THE ASSET THE BEST VALORISATION

. TO BE REGULATED BY A MANAGEMENT CONTRACT

SHOPPING CENTRES’ MANAGEMENT

. TO ASSURE AN EFFICIENT SHOPPING CENTRE OPERATION

. TO GUARANTEE CONSTANT OPTIMISATION OF SERVICE CHARGES AND PROMOTION

BUDGETS

. TO PROVIDE THE OWNER WITH EFFECTIVE CONTROL OF ITS INCOME

. REPORTING

MARKETING MALL DYNAMIZATIONEVENTS COSTUMER SERVICEPUBLIC RELATIONSPROMOTION CAMPAIGNSSOCIAL RESPONSABILITY AND COMMUNITY RELATIONMARKET ANALYSISMARKETING REPORTS

COMMERCIAL NEW SHOPSRENEWAL CONTRACTSSHOPS REPLACEMENTTEMPORARY SPACES EXTRA-INCOMETENANT MIX

TECHNICAL INSURANCEMAINTENANCEHYGIENE AND COMFORTSURVEILLANCE AND SECURITYGARDENINGSOCIAL RESPONSABILITY AND COMMUNITY RELATIONOPERATIONAL REPORT

FINANCIAL SHOPS PERFORMANCEINCOME CONTROLSHOPS AUDITSALES INFORMATIONFINANCIAL REPORTS

LEGAL LEGAL SUPPORTCONTRACTS

REPORTING WHEN TO WHOM

ANNUAL SEMESTRIAL MONTHLY OWNER TENANTS

ANNUAL BUSINESS PLANMARKETING, TECHNICAL AND FINANCIAL

FORECAST ANALYSIS

TENANT’S INQUIRY

TENANT’S ANNUAL MEETING

MONTHLY REPORTSMARKETING, TECHNICAL AND FINANCIAL

AUDIT REPORTS

MANAGEMENT MEETINGS

TENANT’S GENERAL MEETINGS

VISITOR PROFILE ANALYSIS

ECONOMICAL ANALYSIS KEY FIGURES STRATEGY

COMPETITIVENESS

ANNUAL SALES

ANNUAL VISITORS

PERFORMANCE BY GROUP OF ACTIVITY

GROUPS OF ACTIVITY ANALYSIS

EFFORT RATE

PROFITABILITY

OCCUPANCY

TURNOVER RENT

SHOPS AUDIT

TEMPORARY SPACES

COLLECTIONS

PROMOTION FUND

SERVICE CHARGES

5 YEARS INVESTMENT PLAN

EVENTS AND SOCIAL

AWARENESS

ANNUAL BUSINESS PLAN

SUMMARY

LEASE RESULTS

INTERNATIONAL ANALYSIS

NATIONAL ANALYSIS

LOCAL ANALYSIS

TECHNICAL REPORT

SECURITY

MAINTENANCE

CLEANLINESS

GARDEN

WASTE

MARKETING REPORTFINANCIAL REPORTEXECUTIVE SUMMARY

MONTHLY REPORTS

EVENTS AND CAMPAIGNS

TEMPORARY SPACES

TRAFFIC ANALYSIS

KEY FIGURES

CLOSED SHOPS

TOP PERFORMANCES

DEBTORS BALANCE

BANK GUARANTEES

EFFORT TAX

ACTIVITY PERFORMANCE

INSURANCE POLICY

PROMOTION BUDGET

ANALYSIS

MACROECONOMICS AND

POLITICS

PERFORMANCE FIGURES

OCCUPANCY

OUR

FUTURE

. TO ADD VALUE TO MULTI ASSET MANAGEMENT, INCREASING THE CONFIDENCE OF

INVESTORS TO BUY MORE AND BETTER FUTURE PROJECTS

. TO SET UP THE MANAGEMENT MODEL IN COUNTRIES WHERE MULTI CORPORATION IS

EXPANDING THEIR BUSINESS

. TO MANAGE ALL THE ASSET INVESTMENT PORTFOLIO

. TO DEVELOP MANAGEMENT SKILLS AND KNOW-HOW TO GUARANTEE GOOD

INVESTMENT RETURNS TO OUR CLIENTS

THANK YOU