As explained in 3.2.1.C.1 Strategy, business model and value chain and section 3.2.1.C.3 Material impacts, risks and opportunities and their interaction with strategy and business model, consumers and end-users are integrated URW’s business model and approach to the value chain.

In 2023, URW’s Better Places Certification will offer visitors a comprehensive view of the sustainability performance of each asset. To create the certification, the Group partnered with Bureau Veritas Solutions and leveraged the critical eye of WWF France to outline 94 key criteria and a 5-level assessment covering a broad range of environmental and social dimensions including Health and Safety energy and climate, water, communities, mobility, biodiversity and waste. Not only focused on the Group’s own performance, URW also wants to continue to be the preferred partner of brands and tenants who are themselves committed to the environmental transition. Therefore, URW also launched the Sustainable Retail Index. Co-developed with Good You, a global sustainable-brand ratings company, and the critical expertise of WWF France, the Sustainable Retail Index is an innovative and dynamic approach that will support the sustainable evolution of retail by providing insights into retailers’ sustainability journey. This new tool will provide transparency and support the sustainable evolution of retail. The Sustainable Retail Index provides a dynamic view on retailers’ sustainability commitments, ambition and performance at product and store-operations level. Ratings will be shared annually at the asset level and integrated into the overall grade for each shopping centre, as part of the Better Places Certification.

As explained in 3.2.1.C.1 Strategy, business model and value chain and section 3.2.1.C.3 Material impacts, risks and opportunities and their interaction with strategy and business model, consumers and end-users are integrated URW’s business model and approach to the value chain.

As explained in 3.2.1.C.1 Strategy, business model and value chain and section 3.2.1.C.3 Material impacts, risks and opportunities and their interaction with strategy and business model, consumers and end-users are integrated URW’s business model and approach to the value chain.

As explained in 3.2.1.C.1 Strategy, business model and value chain and section 3.2.1.C.3 Material impacts, risks and opportunities and their interaction with strategy and business model, consumers and end-users are integrated URW’s business model and approach to the value chain.

URW operates in a complex value chain that spans across retail (Shopping Centres), mixed-use assets (Offices), and Convention & Exhibition centres (Viparis). URW's upstream value chain gathers all supply chain players supporting activities of development and management of standing assets. These players include, by order of importance, services, construction and maintenance utilities and marketing partners. These suppliers are crucial for URW to develop and maintain the quality and the long-term success of its portfolio. URW's downstream value chain activities are focused on the use of its assets. The key actors are tenants as well as visitors and customers. URW's tenants, which include a diverse range of hundreds of retailers and brands from very different sectors, lease space in URW's shopping centres and offices. Visitors and customers are the end-users of these spaces, and their engagement is critical for the retention of tenants and the success of URW's assets. URW is positioned as a developer, owner and operator in its value chain. This position allows URW to control various aspects of its portfolio, from the acquisition and development of new assets to the operation, expansion and management of standing assets.

URW serves a variety of stakeholders including workforce, visitors, tenants, suppliers, financial partners, local communities, and public authorities. The workforce includes employees and employee representatives. Visitors and customers are key stakeholders, as are tenants who lease space in URW's shopping centres and offices. Suppliers include project managers, technical engineers, and construction work companies. Financial partners consist of investors and banks. Local communities include local residents, workers, and associations. Public authorities involve elected officials and administration, professional federations, and regulatory bodies.

URW conducted a contextual analysis, a sectoral analysis, and a selection of applicable international standards that are relevant to the commercial real estate sector and its closest related sectors, such as retail, offices, and construction. Key topics of sectors that represent the value chain of URW were integrated in the analysis, including but not limited to, construction materials, engineering, building products and retail.

URW operates a complex value chain that spans across retail (Shopping Centres), mixed-use assets (Offices), and Convention & Exhibition centres (Viparis). URW's upstream value chain gathers all supply chain players supporting activities of development and management of standing assets. These players include, by order of importance, services, construction and maintenance, utilities and marketing partners. These suppliers are crucial for URW to develop and maintain the quality and the long-term success of its portfolio.

URW's downstream value chain activities are focused on the use of its assets. The key actors are tenants as well as visitors and customers. URW’s tenants, which include a diverse range of hundreds of retailers and brands from very different sectors, lease space in URW’s shopping centres and offices. Visitors and customers are the end-users of these spaces, and their engagement is critical for the retention of tenants and the success of URW’s assets.

URW is positioned as a developer, owner and operator in its value chain. This position allows URW to control various aspects of its portfolio, from the acquisition and development of new assets to the operation, expansion and management of standing assets.

URW maintains close relationships with its stakeholders, which include the value chain players mentioned above as well as URW’s workforce, financial partners, associations, local communities and public authorities. The workforce and employee representatives are integral to URW’s operations and contribute to the Company’s success. Local communities are also key stakeholders as they are integrated in the direct environment of URW’s assets. Public authorities, such as elected officials and administration, professional federations and regulatory bodies, play a crucial role in the regulatory environment in which URW operates. Financial partners, such as investors and banks, provide the necessary capital for URW to acquire, develop and manage its assets.

In essence, URW’s value chain is a complex ecosystem of various business actors and stakeholders, each playing a crucial role in the Company’s operations. By effectively managing its value chain, URW is able to deliver sustainable, high-quality real estate assets that meet the needs of its stakeholders and contribute to the vitality and sustainability of local communities.

URW operates a complex value chain that spans across retail (Shopping Centres), mixed-use assets (Offices), and Convention & Exhibition centres (Viparis). URW's upstream value chain gathers all supply chain players supporting activities of development and management of standing assets. These players include, by order of importance, services, construction and maintenance, utilities and marketing partners. These suppliers are crucial for URW to develop and maintain the quality and the long-term success of its portfolio.

URW's downstream value chain activities are focused on the use of its assets. The key actors are tenants as well as visitors and customers. URW’s tenants, which include a diverse range of hundreds of retailers and brands from very different sectors, lease space in URW’s shopping centres and offices. Visitors and customers are the end-users of these spaces, and their engagement is critical for the retention of tenants and the success of URW’s assets.

URW is positioned as a developer, owner and operator in its value chain. This position allows URW to control various aspects of its portfolio, from the acquisition and development of new assets to the operation, expansion and management of standing assets.

URW maintains close relationships with its stakeholders, which include the value chain players mentioned above as well as URW’s workforce, financial partners, associations, local communities and public authorities. The workforce and employee representatives are integral to URW’s operations and contribute to the Company’s success. Local communities are also key stakeholders as they are integrated in the direct environment of URW’s assets. Public authorities, such as elected officials and administration, professional federations and regulatory bodies, play a crucial role in the regulatory environment in which URW operates. Financial partners, such as investors and banks, provide the necessary capital for URW to acquire, develop and manage its assets.

In essence, URW’s value chain is a complex ecosystem of various business actors and stakeholders, each playing a crucial role in the Company’s operations. By effectively managing its value chain, URW is able to deliver sustainable, high-quality real estate assets that meet the needs of its stakeholders and contribute to the vitality and sustainability of local communities.