MERLIN Properties Annual Report 2022

32 | Annual report | 2022 DEVELOPMENTS / WORK IN PROGRESS (WIP) BEST II & III PLANS (LOGISTICS) MERLIN continues expanding its logistics footprint trough the developments / WIP program in logistics. As of 31 st December 2022, main assets under Best II and III plans are the following: Best II (as from 31/12/2022) • 63% of Best II has been delivered achieving a 7.8% YoC • Assets delivered in 2022: Cabanillas Park I H, Cabanillas Park I J and Cabanillas Park II A , totalling 115,210 sqm • A2-Cabanillas Park II B (47,342 sqm) under development to be delivered in 2H23 at an expected YoC of 6.9% • 167,125 sqm of Landbank remaining in the Madrid area (Cabanillas Park II and Azuqueca III) to be developed with pre-lets. Expected YoC above 6.5% Best III (as from 31/12/2022) • 22% of Best III has been delivered achieving a 8.0% YoC • No assets delivered in 2022 • 390,312 sqm of Landbank remaining in Lisbon (Lisbon Park), Seville (Sevilla ZAL), Madrid (A2-San Fernando III) and Valencia (Valencia-Betera) to be developed with a pre-lets. Expected YoC above 7.0%