Smart Approach in Retail Resilience

EPRA balance sheet 31 March 2020 ! Group JVs & Funds 30 Sept 2020 Total properties (£m) 11,177 7,262 3,066 10,328 Adjusted net debt (£m) (3,854) (2,837) (859) (3,696) Other net liabilities (£m) (121) (141) (26) (167) EPRA Net Tangible Assets (£m) 7,202 4,284 2,181 6,465 Loan to value (LTV)1 34.0% 35.7% Weighted average interest rate 2.5% 2.5% Interest cover 3.8x Weighted average maturity of drawn debt (years) 7.5 1 Proportionally consolidated LTV is based on Group Properties and share of Joint ventures & Funds, and proportionally consolidated net debt. 3.1x 7.8 65

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