MERLIN Properties Annual Report 2020 / English

| 31 LANDMARK I PLAN (OFFICES) DEVELOPMENTS / WORK IN PROGRESS (WIP) INVESTMENTS IN FY20 GLA (sqm) 3,048 ERV € 0.8m ERV Yield (1) 4.5% Acquisition € 15.4m IN STOCK GLA (sqm) 13,244 Scope Scope Double height lobby + common areas + new retail space Budget € 8.7m Delivery Finished WIP GLA (sqm) 16,474 Scope Full refurb Budget € 34.8m Delivery 2Q21 GLA (sqm) 25,385 Scope Full refurb (incl. SC) Budget € 34.8m Delivery 2Q21 Plaza de Cataluña 9 Monumental Diagonal 605 Castellana 85 (1) Yield on cost calculated over acquisition (€ 15.4m) plus estimated Capex (€ 3.0m). PRE-LET 100% PRE-LET 100%