MERLIN Properties Annual Report 2021

| 55 Treasury shares As of 31/12/2021 the Company owned 2,885,491 treasury shares. During 2021, the following events have occurred in relation to the treasury stock: • In accordance with the delivery conditions of the 2017-2019 long term incentive plan, 1,874,506 shares have been delivered to the beneficiaries in March. • 151,698 shares were delivered to the employees as part of the “flexible remuneration program”. • 738 shares have been sold for a total amount of €8,000 (average price of €11.20 per share). The Company has acquired a total of 374 shares in 2021. Below we show a breakdown of the variations during the year of the balance of treasury shares: Acquisitions Disposals Total 31/12/2020 Balance 4,836,503 1Q21 211 (1,848,343) (1,848,132) 2Q21 76 (102,547) (102,471) 3Q21 30 (419) (389) 4Q21 57 (77) (20) 31/12/2021 Balance 2,885,491