MERLIN Properties Annual Report 2024

20 | Annual report | 2024 OCCUPANCY Stock G.L.A. of MERLIN as of 31 st December 2024 amounts to 3,169,405 sqm. Stock as of 31 st December 2023 amounted to 3,174,876 sqm, resulting in a net decrease of the stock during the period of 5,471 sqm. Occupancy rate as of 31 st December 2024 is 96.7% (1) Note: Hotels have been reclassified into offices and shopping centers (1) MERLIN policy excludes buildings under complete refurbishment. Buildings excluded this period are Liberdade 195, Alfonso XI, Plaza Ruiz Picasso extension, Torre Lisboa, PE Cerro Gamos 2, 3 & 5 and Josefa Valcarcel 48 (2) Excluding vacant units acquired under refurbishment (25,142 sqm in FY24 and 25,142 sqm in FY23) (3) Data Centers occupancy is measured in terms of IT capacity, not GLA. As of 31 st December 2024, 26 MW of IT Capacity have been furnished in the assets, out of a maximum design capacity of 64 MW IT Capacity corresponding to Phase I 31/12/2024 31/12/2023 Change YTD Bps Offices Total G.L.A. (sqm) (1) 1,224,626 1,208,926 G.L.A. occupied (sqm) 1,148,043 1,121,647 Occupancy rate (%) 93.7% 92.8% +97 Logistics Total G.L.A. (sqm) 1,438,105 1,463,379 G.L.A. occupied (sqm) 1,429,664 1,448,373 Occupancy rate (%) 99.4% 99.0% +44 Shopping centers Total G.L.A. (sqm) 437,200 437,246 G.L.A. occupied (sqm) 397,624 396,784 Occupancy rate (%) (2) 96.5% 96.3% +21 Data Centers Total G.L.A. (sqm) 66,389 62,239 G.L.A. occupied (sqm) (3) n.a. n.a. Occupancy rate (%) n.a. n.a. n.m. Other Total G.L.A. (sqm) 3,085 3,085 G.L.A. occupied (sqm) 1,899 1,899 Occupancy rate (%) 61.6% 61.6% - MERLIN Total G.L.A. (sqm) 3,169,405 3,174,876 G.L.A. occupied (sqm) 2,977,230 2,968,703 Occupancy rate (%) (2) 96.7% 96.2% +58