The share

The Company is a public limited company under the SOCIMI regime (Listed Public Limited Companies for Investment in the Real Estate Market), regulated by Law 11/2009. It applied for the regime in 2025, communicated its non-application for the 2025 financial year (in which it was taxed under the general Corporate Income Tax regime) and re-elected the special regime with effect from 1 January 2026.

The SOCIMI regime entails the obligation to distribute dividends in accordance with Article 6 of the SOCIMI Law and Article 29 of the company's bylaws. Given that the regime takes effect from 1 January 2026, no dividends are expected to be distributed during 2026 against the 2025 results. The distribution obligation will be enforceable in respect of results generated from the 2026 financial year onwards, the distribution of which, where applicable, must be resolved during the 2027 financial year.

As a Listed Real Estate Investment Company (SOCIMI), the company is subject to a statutory regime of mandatory profit distribution. Once the applicable corporate obligations have been met, the distribution of earnings to shareholders must generally comply with the following minimum percentages:

• 100 % of the profits arising from dividends distributed by its subsidiaries.
• At least 50 % of the capital gains arising from the disposal of properties and shareholdings, with the remainder to be reinvested within the legally established period.
• At least 80 % of the income arising from the leasing of properties and from ancillary activities.

The distribution resolution must be adopted within six months of the close of each financial year, and payment made in the month following that resolution. The effective application of this policy depends on the existence of distributable profits and on the resolutions adopted by the governing bodies; the information set out here is descriptive of the regulatory framework and does not constitute a forecast of returns.