Smart Approach in Retail Resilience

Total Property Return (as calculated by MSCI) 1 6 months to 30 September 2020 Offices Retail Total % Capital Return - ERV Growth - Yield Movement¹ British Land MSCI British Land MSCI British Land MSCI I (3.0) (2.4) (15.0) (8.4) (7.3) (3.7) I I 0.7 (0.5) (10.9) (5.4) (4.9) (2.0) I T T I 8 bps 9 bps I 33 bps 26 bps 17 bps 11 bps I I Income Return 1.4 1.8 i 3.2 2.6 I 1.9 I 2.2 Total Property Return (1.6) (0.6) (12.2) (6.0) (5.5) (1.6) I I I Net equivalent yield movement 84

View entire presentation