Investor Presentaiton

FINANCIAL POSITION A CORE STRENGTH OF BRITISH LAND Average interest rate of 4.2% Diverse Debt Profile (30 September 2013) £0.6bn • 75% fixed over 5 years £0.9bn • Average maturity of 9 years • £1.3bn of facilities in place for . • more than two years £710m of new financing arranged year to date £2.7bn of debt raised since March 2011 • LTV 41.8% at December 2013 . (based on September valuations) £1.7bn £1.7bn £1.0bn £0.4bn £0.7bn Unsecured Debt-undrawn Drawn Debentures & Loan Notes US Private Placements Convertible Bonds Other JV & funds debt Securitisations 1999 British Land

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