Smart Approach in Retail Resilience

Reconciliation of new EPRA net asset valuation metrics to previous metrics EPRA NRV Purchasers' costs EPRA NAV Per share measure EPRA NTA Intangibles EPRA NAV Per share measure EPRA NDV EPRA NNNAV¹ Per share measure 1 As the Group's EPRA NDV is the same as the EPRA NNNAV, there are no reconciling items. 31 March 2020 30 September 2020 £m £m 7,872 7,082 (659) (605) 7,213 6,477 774p 694p 7,202 6,465 11 12 7,213 6,477 774p 694p 6,762 6,003 6,762 6,003 726p 643p 67

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