MERLIN Properties Annual Report 2019 / English

| 15 Number of ordinary shares 469,770,750 Number of weighted shares 469,770,750 Total equity (€m) 6,709 GAV (€m) 12,751 Net debt (€m) 5,182 Net debt / GAV 40.6% Capital structure key data Data as of 26 February 2020, according to the communications made to the CNMV Composition The internal management organization structure can be summarized as follows: • Board of Directors: consisting of twelve directors, advised by the Audit and Control Committee, the Appointments Committee and the Remuneration Committee. • Chief Executive Officer: reporting directly to the Board of Directors and forming part of it. • Investment Committee: reporting to the CEO and consisting of the executive team, with a right of veto by the Chief Investment Officer. Banco Santander 22.3% Free Float 73.7% Blackrock 4.0% Invesco Principal Financia Standard Life Blackrock BBVA Banco Santander Free Float Mónica Martín de Vidales Secretary Ildefonso Polo del Mármol Vice-Secretary Audit and Control Committee Appointments Committee Remuneration Committee Independent Directors Executive Directors Proprietary Directors (1) Coordinator Director Javier García-Carranza Non-Executive Chairman Ismael Clemente CEO & Executive Vice-Chairman Miguel Ollero Francisca Ortega María Luisa Jordá Ana García Fau John Gómez Hall Emilio Novela Chairman Appointments Committee Pilar Cavero Donald Johnston (1) Fernando Ortiz Chairman Remuneration Committee Juan María Aguirre Chairman A&C Committee