MERLIN Properties Annual Report 2018 / English

ı 15 ı Annual Report 20 18 Organization and structure Offices Breadth of prime space Madrid, Barcelona and Lisbon Shopping Centers Urban or Dominant National scale Logistics National footprint “One-stop shop” solution for 3PL High Street Retail High triple net cash flow Inflation multiplier MERLIN Properties Socimi, S.A. (“MERLIN”, “MERLIN Properties” or the “Company”) is a company devoted to delivering sustainable return to shareholders through the acquisition, active management and selective rotation of high quality commercial real estate assets in the “Core” and “Core plus” segments. Strategy 40 % 20 % 20 % 20 % CORE & CORE PLUS SPAIN & PORTUGAL INVESTMENT GRADE CAPITAL STRUCTURE DIVIDEND POLICY: 80% OF AFFO ONE OF THE WORLD’S MOST COST EFFICIENT REIT’S BEST GOVERNANCE PRACTICES 1. 1 2 5 3 4 2 . 3 . 4. 5.