MERLIN Properties Annual Report 2022

| 21 GAV PER ASSET CLASS (1) GROSS RENTS PER ASSET CLASS (2) Other Net leases Logistics Shopping centers O ce 15.6% 19.2% 7.7% 57.5% Other Net leases Logistics Shopping centers O ce 16.2% 27.4% 2.8% 53.6% Offices Shopping centers Logistics 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 OCCUPANCY AND WAULT (YEARS) PER ASSET CLASS 3.2 MERLIN Average 95.1% MERLIN Average Other 7.2 Logistics 3.7 97.0% 97.3% 92.5% Offices 3.3 Shopping centers 2.2 95.0% GROSS YIELD PER ASSET CLASS 4.7% MERLIN Average Other 3.9% Logistics 5.2% Shopping centers 5.8% Offices 4.4% With the disposal of the BBVA portfolio, MERLIN has fully divested from its Net Leases division which also included the Caprabo assets sold in 4Q21. BBVA portfolio was valued at € 1,773m and provided € 83.6m of annual GRI. On June 15 th , it was sold to BBVA at a 17.1% GAV premium implying a 4.0% yield Business performance