ICADE : Reference document 2015

ICADE_DDR2015_EN_Livre.indb

REGISTRATION DOCUMENT 2015

WE BRING LIFE TO SMART AND SUSTAINABLE

CITIES

CONTENTS

CHAPTER 1 OVERVIEW OF ICADE 5

1. Key figures and performance indicators 6

2. Group presentation and strategy 10

CHAPTER 2 BUSINESS PERFORMANCE AND LIST OF ASSETS 13

1. Business performance 14

2. List of property assets 57

CHAPTER 3 CORPORATE SOCIAL AND ENVIRONMENTAL RESPONSIBILITY 71

Message from the management 72

1. CSR, an essential component of Icade's DNA 73

2. Icade's issues and stakeholders 74

3. Organisation and objectives 78

4. CSR performance and achievements 82

5. Summary tables 115

CHAPTER 4 RISK FACTORS 129

1. Risk management and control 130

2. Insurance and disputes 133

CHAPTER 5 CORPORATE GOVERNANCE 137

1. Governance bodies 138

2. Chairman of the Board's report 155

3. Statutory Auditors' report pursuant to Article L. 225-235 of the French Commercial Code

   on the report of the Chairman of the Board of Directors of Icade SA 169

4. Remuneration and benefits for corporate officers 170

CHAPTER 6 CONSOLIDATED FINANCIAL STATEMENTS 179

1. Consolidated financial statements 180

2. Notes to the consolidated financial statements 185

3. Statutory Auditors' report on the consolidated financial statements 255

CHAPTER 7 ANNUAL SEPARATE FINANCIAL STATEMENTS 257

1. Financial statements 258

2. Notes to the financial statements 262

3. Statutory Auditors' report on the annual financial statements 290

CHAPTER 8 CAPITAL, SHARES AND DISTRIBUTION POLICY 291

1. Information on the issuer and its capital 292

2. The Company's shares 301

3. Employee shareholding 303

4. Appropriation of profits and dividend distribution policy 309

CHAPTER 9 ADDITIONAL INFORMATION 311

1. Persons responsible 312

2. Information from third parties, valuation declarations and declarations of interest -

   independent property surveyors' condensed report 314

3. Statutory Auditors' special report on regulated related party agreements and commitments 316

4. Documents available to the public 318

5. Correspondence tables 319

REGISTRATION DOCUMENT

2015

Including the Annual Financial Report

This registration document was filed with the Autorité des marchés financiers (AMF) on March 31, 2016, in accordance with Article 212-13 of its General Regulations. It may be used to support a financial operation if accompanied by a prospectus approved by the AMF.

This document has been prepared by the issuer and its signatories therefore accept responsibility for its content. Copies of this registration document are available free of charge from the Company (35 rue de la Gare - 75019 Paris) and on Icade's website (www.icade.fr) and the AMF's website (www.amf-france.org).

Pursuant to Article 28 of Commission Regulation (EC) No. 809/2004 of April 29, 2004, this registration document includes by reference the following information, which the reader is invited to consult:

u The consolidated financial statements at December 31, 2013 and statutory auditors' report on these financial statements, as presented on pages 38 to 108, 109 to 110 of the registration document filed with the AMF on March 27, 2014;

u The consolidated financial statements at December 31, 2014 and statutory auditors' report on these financial statements, as presented on pages 142 to 219, 220 to 222 of the registration document filed with the AMF on April 2, 2015.

4 ICADE • 2015 REGISTRATION DOCUMENT