Investor Presentaiton

POSITIVE PERFORMANCE DRIVEN BY... • Strong position in retail · large and high quality retail portfolio Increasing focus on London/South East >60% of portfolio in South East • Successful asset management · . • good leasing volumes; ahead of ERV £1.2bn development programme started in 2010 IRRS >30% Flexible and low cost finance 4.2% lowest of UK REITS Ability to secure attractive value accretive deals acquired £1.4bn of assets over the last 2 years Ability to sell well selling mature assets; £1.3bn of disposals over the last 2 years 5 British Land

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