MERLIN Properties Annual Report 2023

| 57 MERLIN shares closed on 31 st December 2023 at € 10.06, an increase of 14.6% versus 31 st December 2022 closing price (€ 8.78). (1) Adjusted for any equity dilutive transactions MERLIN SHARE PRICE PERFORMANCE (1) VS REFERENCE INDICES From 1 st January 2023 to 31 st December 2023, Rebased to 100 Source: Bloomberg MERLIN Properties Volume MERLIN Properties EPRA Europe (incl. UK) Stoxx 600 IBEX 35 +14.6% +12.6% +12.7% +22.8% - 1.0 70 90 110 130 150 Jan 23 Feb 23 Mar 23 Apr 23 May 23 Jun 23 Jul 23 Aug 23 Sep 23 Oct 23 Nov 23 Dec 23 MM Shares Average daily trading volume during the period has been € 13.6 million Stock exchange evolution AVERAGE DAILY TRADING VALUE (€ M) 28.0 2017 28.7 2018 23.1 2019 2020 26.2 2021 15.8 2022 20.3 2023 13.6