Creating investor value

Helping our retail partners flourish helps our business flourish. And it's this that rewards the people who've placed their trust in us.

Strategy

Optimise performance of existing assets, prioritising medium-term total property return Drive forward £1.3 billion investment programme in existing UK assets Make the brand count Seize the growth opportunity in Spain

1. Optimise performance of existing assets, prioritising medium-term total property return

We aim to achieve this by Making our locations
the most desirable for shopping and socialising

Astutely managing the assets to take advantage of new trends and occupiers

Building long-term partnerships with local authorities
and communities
How we measure success Footfall
Occupancy
Income performance
Total financial return
How we manage risk Active management of tenant mix

Leisure and catering space to increase over the next few years
Our progress in 2014 Opened the redeveloped food court at intu Lakeside and on site with restaurant developments at intu Potteries and intu Victoria Centre

Introduced new brands to our customers including Five Guys, MAC, Jack Wills and Hema

Engaged with national and local government and worked with local partners to help disadvantaged
people into work

2. Drive forward £1.3 billion investment programme in existing UK assets

We aim to achieve this by Delivering the required
planning approvals for all projects

Generating the required level of demand to commence a project

Having the required funding to progress
the pipeline
How we measure our success Prime property assets
Total financial return
How we manage risk Revolving credit facility increased from £375 million to £600 million during the year

Detailed appraisal work and significant pre-lets continuing ahead of starting major development projects
Our progress in 2014 Received town centre status and planning approval for extension at intu Braehead

Completed letting of leisure scheme at intu Potteries in advance of opening in 2015

Introduced joint venture partner to intu Uxbridge
and increased available facilities

3. Make the brand count

We aim to achieve this by Offering a distinctive customer signature experience at all our centres

Having a best-in-class digital offering to retailers and customers

Delivering a consistent national brand partnership, experiential and advertising opportunity on and
offline
How we measure our success Footfall
Income performance
How we manage risk Training and employee
engagement to deliver brand promise and values

Tell intu programme of customer feedback and analysis

Digital investments to improve relevance as shopping habits change
Our progress in 2014 Introduced Tell intu and measurement of Net Promoter Score,
which has increased by 30 per cent since its introduction

Introduced more retailers to our transactional website, intu.co.uk, including John Lewis, Next and Topshop

Increased our marketing database to almost two million individuals

Secured UK’s first national single portfolio multi channel promotional launch for ‘Home’

4. Seize the growth opportunity in Spain

We aim to achieve this by Building a platform of the best centres in Spain through acquisition and development

Delivering the same brand experience and returns in Spain and the UK

Moving the development options forward to a point where we can consider exercising them and
commencing developments
How we measure our success Income performance
Total financial return
How we manage risk Substantial property and
financial due diligence undertaken before acquisition

Local partner in Spain with market specialist knowledge
Our progress in 2014 Announced the acquisition of Puerto Venecia, a top 10 Spanish shopping resort

Delivered 21 per cent capital growth on Parque Principado in our first full year of ownership

Entered into an option for a development site in Palma, Mallorca