SPAIN IS EXITING A "THIRD WAVE" WITH MORE TESTING, LOWER DEATH COUNT, AND 3% OF THE POPULATION VACCINATED

First Wave

Source: Ministry of Health, Government of Spain. NOTES: (1) Confirmed by Ministry of Health

COVID-19 DEATHS CONFIRMED BY THE SPANISH MINISTRY OF HEALTH

Summer Break

Second Wave

Third Wave

OBJECTIVE: REACH GROUP IMMUNITY BY SEPTEMBER 2021 WITH AT LEAST 70% OF THE POPULATION VACCINATED

  • > Acquisition of the vaccine is coordinated and authorized for use by the European Commission, as established by the European Medicines Agency (EMA).

  • > Spain is entitled to receive c. 10% of total EU purchases equivalent to c. 256 million doses. Excess supply could be donated to third lower-income countries or redirected to other European countries

    Source: Ministry of Health, Government of Spain, European Commission. NOTES: (1) Confirmed by Ministry of Health

  • > Doses secured by European Commission for Spain (to date):

January 1stPhase 1 March 31st

June 30st

August 31st

Phase 2

Phase 3

Population Vaccinated:

6.5 million

(13%)

19 million

(40%)

33 million

(70%)

  • • Rest > 64 years of age

  • • People with high- risk conditions

  • • Vulnerable populations

  • • Essential workforce

  • • People susceptible to outbreaks or in a situation of high incidence

  • • Pregnant and breastfeeding mothers

SHOPPING CENTRE FOOTFALL & SALES

STRONG REBOUND IN FOOTFALL AND SALES AS SOON AS CUSTOMERS ARE ABLE TO RETURN - LARGE RETAIL PARK EXPOSURE CONTRIBUTING TO SALES OUTPERFORMANCE

2020

2021

18

1ST WAVE

2ND WAVE (3)

3RD WAVE (3)

115%

16 95%

14

  • ▪ Larger basket sizes contributing to good sales performance and higher conversion rates despite lower footfall than previous year

    12

    75%

    10 55%

    8

  • ▪ Retail park sales are above pre-covid levels. Retail parks comprise 42% of Castellana's portfolio by GLA

    6

    35%

    4

    15%

  • ▪ Despite restrictions imposed on shopping malls since November, footfall has recovered to 80% of pre-covid levels over Christmas

2

Essential services only 0

Partial restrictions and trading hour limitations

-5%JanFebMarAprMayJunJulAugSepOctNovDicJanFebNº assets open and without highly restricted mobility

FootfallSales

(1) Footfall Data includes the following shopping centres: El Faro, Bahía Sur, Los Arcos, Vallsur, Habaneras, Puerta Europa and Granaíta Retail Park. There are no counters in the rest of the retail park assets. Granaita Retail Park only counts cars, so we have estimated an average of 2 people per car. Monthly information: evolution of month in 2020 vs the same month in 2019

  • (2) Castellana's portfolio includes all retail assets. Monthly information: evolution of month in 2020 vs the same month in 2019

    4

  • (3) Regional restrictions during 2º and 3º wave: town perimeter closures, trading hours capped, curfews, non essentials retails closures…)

DISCOUNTS

INITIAL COOPERATION WITH TENANTS IN FIRST WAVE HAS ENSURED A SMOOTH AND COLLABORATIVE RELATIONSHIP OVER THE PAST 12 MONTHS WHILE MAINTAINING HIGH OCCUPANCY RATE

Majority of tenant relief granted up until September 2020

Tenants have continued to pay invoiced rents despite a difficult trading period - collection rate is maintained at 94% of invoiced amounts

Anticipating small amount of additional relief going forward due to regional restriction measures

Castellana's proactive approach with its tenants has ensured a cooperative response to the pandemic and more income security through longer WAULTs

early action enabled tenants to plan effectively and continue to partner with Castellana in expanding their businesses

LEASING ACTIVITY(1)

OCCUPANCY RATE 97%(2) . CONTINUOUSLY CLOSING AGREEMENTS OPENING NEW STORES DURING THE PANDEMIC DUE TO THE STRENGH OF RELATIONSHIPS AND RETAIL EXPERTISE.

(44% since October)

  • ▪ With more stores to follow in the coming weeks…

  • (1) Period between April 2020 and February 2021

  • (2) As at February 2021

ZARAMEDIA MARKYELMO CINESFOSTER HOLLYWOOD

SAFE AND SECURE EVENTS AND PROMOTIONS

CUSTOMERS HAVE RETURNED TO OUR CENTRES AS SOON AS RESTRICTIONS WERE LIFTED

We strive to provide safe

spaces our customers can

enjoy

Health and hygiene protocols

continue to follow best

practices

Our customers have been able to attend Halloween, Christmas and TV character themed promotional events throughout the year

7

Rubén Darío, 3 28010 Madrid

(+34) 91 426 86 86www.castellanaproperties.es

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Disclaimer

Castellana Properties SOCIMI SA published this content on 15 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2021 10:31:12 UTC.