MERLIN Properties Annual Report 2022

12 | Annual report | 2022 La Its internal organisational structure can be summarised as follows: • A Board of Directors (Board) composed of 13 directors and advised by the Audit and Control Committee (ACC), the Appointments and Remuneration Committee (ARC) and the Sustainability and Innovation Committee (SCI). The Company also has a Planning and Coordination Committee (PCC). MERLIN’s Board of Directors, of which members are individually re-elected every two years, is composed of a majority of independent directors and its activities are focused on defining, supervising and monitoring the policies, strategies and general guidelines to be followed by the Group. The Board is responsible for the long-term strategy and for monitoring its implementation • General Management, composed of the Chief Executive Officer (CEO) and the Chief Operating Officer (COO), who reports directly to the Board and are also Board members. • An Investment Committee formed by the management team (1) . (1) Management team is understood to be: https://www.merlinproperties.com/en/corporate-governance/management- team/ Business activities MERLIN Properties owns a portfolio of real estate assets valued at more than €11.3 billion, comprising 107 office buildings, 55 logistics warehouses and 14 shopping centers. The portfolio has a gross leasable area (GLA) of more than 3.2 million square metres that generates more than €453 million in gross rental income.