PROPERTY DESCRIPTION

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2 PROPERTY DESCRIPTION retail park The area of the retail park is located on the western edge of the property and has a simple and functional layout. Retail stores are situated on both sides of the central access road and have their own parking area and access to the underground parking. This area was opened to the public in the second quarter of 2008 and covers an area of 83,928 sqm GLA of which Puerto Venecia owns 39,159 sqm. At the date of this Information Memorandum, the main operators in this area are IKEA with an area of 30,000 sqm, Leroy Merlin with a zone 11,769 sqm and Porcelanosa with an area of 3,000 sqm, direct owners of the surface. The Company also has other tenants such as Media Markt, Conforama and Kiabi.

3 shopping centre The shopping centre area is distributed on two floors surrounding an artificial lake. This zone opened to the public in October It has access from the parking area of the commercial park, from the lake and from the external parking. In the North area of the lake, the shopping centre is shaped in an L that is used to connect it with the entertainment and restaurants area. The design has shops on both sides of the lake and the parking. leisure and restaurants The leisure and fast food restaurants area are located on the southern side of the lake. This zone opened to the public in October 2012 and covered an area of 24,000 sqm. Facilities Wave House are situated at the level of the lake, while at the level of the parking the main attraction is the Toys R Us store with direct access from the adjacent parking area. The Decathlon unit is located in an independent store in the south area of the shopping centre opposite to the lake.

4 SUPERFICIES sqm Between the shopping and entertainment area and restaurants the total gross leasable area is 80,283 sqm, including terraces (77,870 m² without terraces), of which the company Puerto Venecia owns everything. Major international brands such as Primark, H&M, Mango, Desigual, Inditex brands or trademarks of Cortefiel Group are tenants of the center. The building complex has a total area of approximately 203,211 sqm including the area property of El Corte Inglés, which amounts to 39,000 sqm; of which Puerto Venecia owns sqm and the remaining area belongs to IKEA, Leroy Merlin, Porcelanosa, El Corte Ingles sqm

5 COST The total cost of the investment for the construction of the compound amounted to approximately 221 million euros

6 Region and catchment

7 Location and access The property is located within the ring of the Z-40 highway, about 8km south of downtown Zaragoza. The property is easily reached from the city centre and from the suburbs and surrounding villages. The property has direct access from the Z-40 highway, one of the main radial connecting Zaragoza with the different highways that pass through the region (A-2, A-23, A-68) as well as major regional roads (N-232, N-330). In 2014, the inflow to the centre rose 18% surpassing the 18 million visitors.

8 Aerial view

9 Acquired Acquisition Price Net Rental Income Size Footfall Occupancy Debt January m 22.4m 200,000 sq m 18m 95% 225m 5 year term loan to 2020

10 Strategic location with wide catchment area 200,000 square metres of retail, catering and leisure, including Ikea and El Corte Ingles 8km South of Zaragoza on the city s ring road Zaragoza is the capital of the Aragon region of Spain Catchment population extends from Aragon into the surrounding regions Aragon region more affluent than the Spanish national average

11 The regional retail and leisure destination for Aragon Shopping centre (opened 2012) and retail park (opened 2008) Situated over two floors surrounding a central lake Strong fashion mall and adjoining leisure and restaurant area plus adjacent retail park Over 200 units Anchored by El Corte Ingles, Primark, Inditex, H&M and Apple; Ikea and Media Markt on retail park Catering and leisure offer represents around 20 per cent of space, including a cinema, climbing and karting plus over 30 restaurants Over 10,000 car parking spaces

12 Quality tenant line up, with almost 90% international/national retailers

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