MERLIN Properties Annual Report 2024

MERLIN Properties | 31 Phase I (64 MW IT capacity) Installed capacity (MW) Maximum IT Capacity (MW) Pending Capex (€m) Expected Stabilized GRI (€m) Stabilized GRI YoC (%) Stabilized NOI YoC (%) 26 64 ca. 227 (1) 88 14.5% >10% Phase II (203 MW IT capacity) Maximum IT Capacity (MW) Pending Capex (€m) Expected Stabilized GRI (€m) Stabilized GRI YoC (%) Stabilized NOI YoC (%) 203 ca. 2,079 (1) 313 ca. 14.2% >10% Future pipeline (2.4 GW capacity) MW Arasur Strategic Landbank Land ownership. Power granting process underway 180 Lisbon Park Strategic Landbank Land ownership. Power partially granted 200 Navalmoral de la Mata Long term purchase option. Ready to build status. Power access requested 1,000 Valdecaballeros Long term purchase option. Urban planning pending 1,000 Total 2,380 (1) Excluding promote. MERLIN does not capitalize financial expenses or internal development costs.