MERLIN Properties completes the conversion of all of its outstanding bonds into “green bonds”

•  The bondholders of MERLIN have approved the conversion of all the outstanding bonds into green bonds, without any impact on any other characteristics of the relevant bonds, such as their terms and conditions, interest rates or maturity

• With this initiative MERLIN converts more than €4.0 bn of its outstanding senior bonds into green bonds and integrates its financial strategy into its sustainability strategy with the launch of a green financing program

Madrid, 1 June. – MERLIN Properties Socimi, S.A. (“MERLIN”) announced today that it has completed the conversion all of its outstanding senior bonds, representing an aggregate principal amount of more than €4.0bn, into “green bonds”. To that end, MERLIN has allocated the outstanding principal amount of each series to eligible green assets in accordance with its Green Financing Framework.

In order to convert all of its outstanding bonds into “green bonds”, the company bondholders have approved the consent solicitation launched by MERLIN for each series of outstanding bonds in accordance with the terms and conditions of the bonds. Crédit Agricole Corporate and Investment Bank and Freshfields Bruckhaus Deringer have acted as advisors in this process. The requalification of the outstanding bonds into “green bonds” does not have an impact on any other characteristics of the relevant bonds, such as their terms and conditions, interest rates or maturity.

With this new green financing program, MERLIN aligns its financing strategy with its sustainability objectives, both for the proposed conversion of its existing bonds as well as for future financings.

Strategy aligned with its “Pathway to Net Zero Carbon”

This new green financing program is a further step in MERLIN’s ambitious strategy to include sustainability throughout its portfolio, also aligned with its “Pathway to Net Zero” plan launched on April 2022, which sets out its roadmap to become a net zero emissions company by 2030. This plan comprises three key pillars: reducing the operational carbon by 85%, reducing the embodied carbon footprint in the developments and refurbishments of its buildings and the use of renewable energy. Furthermore, the unavoidable residual footprint will be mostly offset through own initiatives that will be duly certified.

MERLIN currently has ESG ratings such as: 81% in GRESB and 58% in S&P Global and has been awarded a B rating from the Carbon Disclosure Project (CDP). Furthermore, the Company has been included in the Dow Jones Sustainability Europe Index.

Finally, MERLIN has more than 2.8 million sqm of its real estate portfolio certified with LEED and/or BREEAM and 1.3 million sqm with ISO 14001 and 50001 certifications.

About MERLIN

MERLIN Properties SOCIMI, S.A. (MC:MRL) is the largest real estate company trading on the Spanish Stock Exchange. Specialized in the acquisition and management of commercial property in the Iberian region. MERLIN Properties mainly invests in offices, shopping centers and logistics facilities, within the Core and Core Plus segments, forming part of the benchmark IBEX-35, Euro STOXX 600, FTSE EPRA/NAREIT Global Real Estate, GPR Global Index, GPR-250 Index, MSCI Small Caps indices and DJSI.

Visit www.MERLINproperties.com to obtain more information on the Company

For further information please contact:

Xana Pena, xpena@tinkle.es, +34 674 73 47 82

Sarah Estébanez, sestebanez@tinkle.es, +34 636 62 80 41

Carlos Jaramillo, cjaramillo@tinkle,es +34 664 11 18 01