Smart Approach in Retail Resilience

Underlying earnings per share 16.1p (0.6p) 0.2p (0.2p) 0.2p 16.3p (5.0p) Financing £5m Admin £3m 0.8p (1.0p) 10.5p HY 2020 Net divestment Development Share buyback Excl. impact of capital activity Like for like income incl. CVAS & admins Provisions for rent receivables, deferred rent, tenant incentives & service charge Cost savings Tax charge HY 2021 Recently completed and committed developments will add a further 4.4p to annualised EPS once fully let 24 24

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