MERLIN Properties Annual Report 2018 / English

ı 39 ı Annual Report 20 18 Scope Budget % executed GLA (sqm) Delivery X-Madrid Full revamp € 35.2m 28% 47,424 Q3-19 FLAGSHIP PLAN (SHOPPING CENTRES) BEST II PLAN (LOGISTICS) FLAGSHIP PLAN (1) MERLIN continues expanding its logistics footprint trough the developments / WIP program in logistics. As of 31 December 2018, main assets under Best II Plan are the following: WIP Scope Budget GLA (sqm) Delivery Arturo Soria Façade, accesses, installations, terraces, floors. Increased scope: parking € 5.4m 6,959 Q3-19 Phase II Larios Full refurb € 28.1m 45,076 Q2-19 Tres Aguas Common areas, exterior plaza, restaurants area € 20.2m 67,690 Q4-19 El Saler Increased scope: full refurb € 25.1m 47,013 Q2-20 Porto Pi Full refurb € 21.1m 58,779 Q1-21 GLA (sqm) ERV (€m) Investment (€m) ERV YoC Madrid-Pinto II B 29,473 1.2 13.7 8.5% Madrid-San Fernando II 34,244 1.9 21.6 8.9% Guadalajara-Azuqueca II 98,000 4.5 51.2 8.7% Guadalajara-Azuqueca III 51,000 2.3 30.1 7.5% Guadalajara-Cabanillas Park I F 19,750 0.8 10.7 7.6% Guadalajara-Cabanillas Park II 210,678 8.5 112.4 7.5% Guadalajara-Cabanillas III 21,544 0.9 11.8 7.4% Toledo-Seseña 28,541 1.2 15.2 7.6% Total 493,210 21.1 266.6 7.9% (1) GLA and Capex budget for shopping centers refurbishments include 100% of the asset, regardless of the stake owned by MERLIN in the owners’ community