MERLIN Properties Annual Report 2021

| 19 GAV PER ASSET CLASS (1) GROSS RENTS PER ASSET CLASS (2) Other Net leases Logistics Shopping centers O ce 13.4% 13.6% 17.1% 5.8% 50.1% Business performance Other Net leases Logistics Shopping centers O ce 13.1% 17.0% 22.7% 2.0% 45.2% Offices Shopping centers Logistics Net leases Other (1) GAV of land under development and NTA of equity method included in its respective category (offices, shopping centers and logistics) (2) Gross annualized rent on full consolidated assets GROSS YIELD PER ASSET CLASS 4.4% MERLIN Average Offices Offices Logistics Logistics Shopping centers Shopping centers 4.0% Net leases Net leases 4.4% Other Other 3.4% OCCUPANCY AND WAULT (YEARS) PER ASSET CLASS 5.4 MERLIN Average 94.5% MERLIN Average 17.5 4.2 100.0% 4.9% 3.3 97.1% 97.3% 90.1% 3.5 5.2% 2.1 94.2%