MERLIN Properties Annual Report 2022

MERLIN Properties | 43 (1) Including treasury stock (2) 5.8 years pro forma average maturity after refinancing the € 743m bond expiring in April 2023 MERLIN’s net financial debt as of 31 st December is € 3,792,325 thousand. This implies a Loan To Value of 32.7% including transfer costs, which represents a reduction of -651 bps since 31/12/2021 (39.2%). The breakdown of MERLIN’s debt is the following: MERLIN’S debt has an average maturity period of 4.9 years (2) . The chart showing debt maturity profile is the following: (€ million) Unsecured bonds Secured bank loans Unsecured loans 2 2 2 2 2 2 72 743 600 800 500 300 29 60 2 500 600 745 2023 2 2024 602 2025 872 2026 502 2027 62 2028 302 2029 531 2030 22 622 > 2031 % Gross financial debt 2.0% 2.6% 95.4% 100.0% Average cost (%) 1.67% 2.90% 1.96% 1.98% % interest rate hedged 79.9% 100.0% 100.0% 99.6% (€ million) Secured bank loans 85 3,792 Total Net Debt (447) Cash (1) Unsecured loans 111 Unsecured bonds 4,043 4,239 Total Gross Debt