MERLIN Properties Annual Report 2024

MERLIN Properties | 51 (€ million) ZAL Port Tres Aguas CreaMNN Silicius Share of Material Associates (1) Include: Borrowings from financial institutions 123.7 73.3 209.1 211.4 164.8 Commercial paper - - - - - Hybrids (including convertibles, preference shares, debt, options, perpetuals) - - - - - Bond loans - - - - - Foreign currency derivatives (futures, swaps, options and forwards) - - - - - Net payables 11.8 1.3 571.5 2.5 89.5 Owner-occupied property (debt) - - - - - Current accounts (equity characteristic) - - - - - Exclude: Cash and cash equivalents (11.0) (11.7) - (11.4) (13.2) Net Debt (a) 124.5 63.0 780.6 202.5 241.0 Include: Owner-occupied property - - - - - Investment properties at fair value 730.3 122.7 1,227.7 584.8 697.8 Properties held for sale - - - - - Properties under development - - - - - Intangibles - - - - - Net receivables - - - - - Financial assets - - - - - Total Property Value (b) 730.3 122.7 1,227.7 584.8 697.8 EPRA LTV METRIC: SHARE OF MATERIAL ASSOCIATES FY24 (1) Proportional share based on the ownership in each associate: ZAL Port (48.5%), Tres Aguas (50%), CreaMNN (14.46%) and Silicius (17.91%)