MERLIN Properties Annual Report 2024

| 33 (1) Bps based on passing rent (2) Including promote MERLIN portfolio has been appraised by CBRE, Savills and JLL, for a total GAV of € 11,540m. GAV breakdown is the following: GAV (€ m) LfL Growth Gross yield Yield expansion/ (compression) (1) Offices 6,488 (0.1%) 4.9% 20 Logistics 1,392 (2.4%) 5.8% 26 Shopping centers 2,014 (0.9%) 6.3% 19 Logistics WIP & Office landbank 314 n.a. n.a. Data Centers 516 16.9% (2) n.m. n.a. Data Centers WIP & Landbank 44 n.a. n.a. n.a. Others 52 n.m n.m n.m Equity method 720 0.7% n.a. Total 11,540 (0.0%) 5.3% +21 Portfolio valuation