Merlin Properties SOCIMI S A : ESG Roadshow

ESG ROADSHOW

M A R C H 2 0 24

DISCLAIMER

This presentation has been prepared by MERLIN Properties SOCIMI, S.A. (the "Company") for informational use only.

The information contained in this presentation does not purport to be comprehensive or to contain all the information that a prospective purchaser of securities of the Company may desire or require in deciding whether or not to purchase such securities. The information contained in this document is subject to change, verification and completion without notice. Neither the Company nor any of affiliates, advisors or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of any information contained or referred to in this document. Each of the Company and its affiliates, advisors or agents expressly disclaims any and all liabilities which may be based on this document, the information contained or referred to therein, any errors therein or omissions therefrom. Neither the Company, nor any of its affiliates, advisors or agents undertakes any obligation to provide the recipients with access to additional information or to update this document

or to correct any inaccuracies in the information contained or referred to therein.

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certain assumptions and estimates. These internal analyses may have not been verified by any independent sources and there can be no assurance that the assumptions or estimates are accurate. Accordingly, undue reliance should not be placed on any of the industry, market or competitive position data contained in this presentation. Additionally, certain information contained herein may be based on management accounts and estimates of the Company and may have not been audited or reviewed by the Company's auditors. Recipients should not place undue reliance on this information. The financial information included herein may have not been reviewed for accuracy or completeness and, as such, should not be relied upon.

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offering, will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the U.S. Investment Company Act of 1940, as amended (the "Investment Company Act"). Such securities may not be offered or sold in the United States except on a limited basis, if at all, to Qualified Institutional Buyers (as defined in Rule 144A under the Securities Act) in reliance on Rule 144A or another exemption from, or transaction not subject to, the registration requirements of the Securities Act. The securities of the Company have not been and, should there be an offering, will not be registered under the applicable securities laws of any state or jurisdiction of Canada or Japan and, subject to certain exceptions, may not be offered or sold within Canada or Japan or to or for the benefit of any national, resident or citizen of Canada or Japan.

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MERLIN Overview

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Sustainability pillars

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Pathway to Net Zero

CONTENTS---

Environmental performance

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Social performance

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Certifications & scorings

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Green assets and financing

MERLIN

OVERVIEW

MERLIN overview        |A snapshot of MERLIN

€ 11,270m

GAV

€ 475.6m

GRI

€ 284.2m

FFO

€ 4,050m

NET DEBT

€ 35.0%

LTV

Listed

in Spain

& Portugal

REIT regime

IBEX-35

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MERLIN overview        |A snapshot of MERLIN

	6.2%	3.0%		16.9%	3.0%	0.1%
16.9%
	Gross asset	55.8%		Gross rental	53.6%
		value		income
18.1%	(31/12/2023)		26.4%	(31/12/2023)

Offices		Shopping Centers		Logistics		Data Centers		Other

Note: GAV of land under develpoment and NTA of equity method included in its respective category (offices, shopping centers and logistics)

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MERLIN overview        |Reconvening our strategy

50%50%

Traditional(1)Digital(2)

75%

25%Digital

Traditional

(1) Offices + Shopping centers	7
(2) Data centers + e-commerce related logistics

MERLIN overview        |Positioning

#1 REIT IN OFFICES AND LOGISTICS

#1

Offices

• Presence in prime cities: Madrid, Barcelona, Lisbon
• Flexibility to offer multitenant or headquarter buildings
• Capacity to adapt to the needs of the tenant

#1

Logistics

• "One-stop-shop"solution for logistics operators wishing to operate across the Iberian Peninsula
• Big footprint to match the rapid development of 3PL activity

Top 5

Shopping Centers

• Mainly urban footprint in high GDP/capita areas in the Iberian Peninsula
• Reference landlord for top retailers
• Critical mass with retail brands

Data Centers	• Presence in 4 locations with best-in-classtechnology
• Cutting-edge energy efficiency, suitable for AI

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MERLIN overview        |Offices

PRIME SPACES IN BOTH CBD AND NBA OFFERING A WIDE VARIETY OF SOLUTIONS TO CLIENTS

sqm	Prime+CBD	NBA	Periphery
Madrid	239,073	487,685	86,157
Barcelona	137,293	39,600	25,385
Lisbon	111,572	12,260	-
Other	-	-	18,306

By location

By product

17%

Barcelona

By GAV	71%
	Madrid

12% Lisbon

• Prime + CBD 56%	•
• NBA 37%	•
• Periphery 7%

By GAV

Multi-tenant72%

Single-tenant28%

95% Big corporations	76% HQ	Rent diversification
(Top-10 31% GRI)	9

MERLIN overview        |Logistics

NATIONAL FOOTPRINT IN THE MAIN LOGISTICS HUBS

sqm	Madrid-A2Madrid-A4	Barcelona(1)	Sevilla	País Vasco	Valencia	Zaragoza	Lisbon
In operation	809,705	154,511	889,103	139,218	99,491	61,604	21,579	45,171
WIP Best II	214,467	-	-	-	-	-	-	-
WIP Best III	98,924	-	-	15,122	-	96,572	-	179,693

By reach

By GAV(2)

1. • National 47%
   • Ports 32%
   • Regional 18%
   • Production related 3%
2. Includes 100% of ZAL Port
3. Excluding WIPs

4%

Basque

Country

A-6

27%

A-1Barcelona

A-2

57%

Madrid

3%	A-5	A-3	4%
Lisbon			Valencia
		A-4

5% Seville

By tenant type

By GAV(2)

• 3PL mono-tenant39%
• 3PL multi-tenant37%
• End user 24%

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