2025 Half Year Results Growing rental income Acquisition of Bullring and Grand Central 5% dividend growth Upgraded earnings outlook CABOT CIRCUS LES TERRASSES DU PORT BRENT CROSS BULLRING 31 July 2025 Strong HY25 performance LfL and acquisitive growth driving enhanced returns STRONG FINANCIAL GROWTH DEMAND FOR OUR SPACE HAS NEVER BEEN STRONGER REDEPLOYING CAPITAL AT HIGH YIELDS • Investments in repositioning driving strong double-digit IRRs • In-flight repositionings at Cabot Circus and The Oracle LES TERRA ...