Smart Approach in Retail Resilience

Debt financing - diverse profile • Extended £650m of committed bank facilities by 1 year to 2025 • No requirement to refinance until 2024 . LTV increased by 170bps to 35.7%² £4.0bn Drawn Debt¹ (30 September 2020) £0.3bn - Valuation declines +270bps £1.0bn Capital activity -80bps - Retained earnings -50bps • Weighted average interest rate low at 2.5%2 • Weighted average drawn debt term maturity 7.8 years2 £0.6bn £0.3bn • £350m convertible bond repaid at maturity using RCFs. • Fitch affirmed all our credit ratings, including our senior unsecured at 'A', with Stable Outlook · Refinanced a HUT bank loan to December 2023 1 Proportionally consolidated. HUT's debt shown at our share (£0.3bn) within Funds. 2 On a proportionally consolidated basis Bank RCFs Drawn £1.0bn £0.8bn US Private Placements Sterling Bond Debenture & loan notes JVs Securitisations Funds Loans Unsecured Secured 72

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