Investor Presentaiton

WELL PLACED AND POSITIVE ABOUT THE FUTURE . • Improving sentiment across key markets - - London to remain strong Higher rents in offices Decent read through for development and residential - Improving confidence in retail - Improving outlook for right type of retail assets. Expect to continue to benefit from our actions - Increased exposure to London and the South East – Investment in up and coming London locations - Replenished development pipeline with optionality -Increased focus on locally preferred retail assets 18 British Land

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