Full Year Results Presentation

Debtors and provisioning Receivable Debtor balance Provision balance % provided for FY21 impact Description Less than 91 days £45m £14m 31% £14m 91-182 days £20m £14m 70% £14m 183 - 365 days £31m £31m 100% £31m More than 365 days £13m £13m 100% We take a systematic approach to provisioning based on ageing and credit quality of individual debtor balances Tenant debtors £109m £72m 66% £59m Deferred rents (accrued income) £10m £6m 60% £6m Primarily rents deferred from March 2020 due over the next three quarters Total as at 31 March 2021 £119m £78m 66% £65m Since 1 April, a further £24m of outstanding rents and service charge has been collected Net of VAT and on a proportionally consolidated basis including the Group's share of Joint ventures and Funds and excluding non-controlling interests in the Group's subsidiaries. 7

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