intu properties plc Site visit to the North East, November 2016

Welcome David Fischel, Chief Executive

Itinerary

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This presentation contains “forward-looking statements” regarding the belief or current expectations of intu properties plc, its Directors and other members of its senior management about intu properties plc’s businesses, financial performance and results of operations. These forward-looking statements are not guarantees of future performance. Rather, they are based on current views and assumptions and involve known and unknown risks, uncertainties and other factors, many of which are outside the control of intu properties plc and are difficult to predict, that may cause actual results, performance or developments to differ materially from any future results, performance or developments expressed or implied by the forward-looking statements. These forward-looking statements speak only as at the date of this presentation. Except as required by applicable law, intu properties plc makes no representation or warranty in relation to them and expressly disclaims any obligation to update or revise any forward-looking statements contained herein to reflect any change in intu properties plc’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

11:15 Presentation

Kate Grant – Regional Director, North

Roger Binks – Customer Experience Director

Q&A

Tour of intu Metrocentre

13:20 Lunch

Tour of intu Eldon Square

15:30 Coach transfer/walk to Newcastle central station

15:59-18:50 Train from Newcastle to London Kings Cross

Maximising customer relationships to drive growth Kate Grant, Regional Director, North Roger Binks, Customer Experience Director

The intu difference Working together

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Aim – to monetise the brand

Asset management intu Digital

intu Experiences

Customer relationship management strategy Embracing omni-channel world

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• Sector specialists

• CACI research

• Omni – shopper profile: understanding our customers

Changing retailing mindset

Brand partnerships Leisure example

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Promoting through intu Experiences

Spanish connection

intu Lakeside leisure letting

more centres to follow……

Brand partnerships Retail examples

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Consumer Focus 70% of car purchase decisions are made by women

Miniaturisation Adapting to changing retailer models

Increasing use of virtual reality technology

Key consumer brands Developing brand relationships

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Making the brand count

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Monetise the intu brand £

Leasing models – pricing & flexibility

Food for thought

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“West Edmonton Mall is the Mt. Everest of indoor entertainment, shopping, and attractions in North America – a place you have to

visit at least once in your lifetime. Part adventure park and entertainment complex, part shopping and dining destination, the

mall spans the equivalent of 48 city blocks”

Driving growth through our brand Technology, digital and customer experience

Technical journey Connected way of working – centre technology

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Corporate Technology Roadmap

2012

2016

2020

Core and Wifi installed

Leveraged network

Intelligent reactive plug

and play buildings

Technical changes driving innovation Core – intu’s platform of the future

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intu.co.uk

2013 2014 2015 2016 2017

intu.co.uk launched as a transactional marketplace

Pivoted model to affiliate

publisher

Fully responsive

site experience

2017 new technology

& group holistic retailer

strategy

Site traffic grew at

30% YOY

480 retailers

live selling online

Where are we now?

Integrated booking platform Multichannel appointment scheduling

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Turning data into actionable insight

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Our brand journey Towards a hospitality brand

2013 2014 - 15 2016 - 18 <2013 2018 - 20

Launched and merchandised the

intu brand

Started measuring the brand

Acting national & building emotional connections with

our guests

Individually managed

brands

Build brand credentials

towards a loved and understood hospitality brand

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2016 Christmas TV ad Developing our Christmas TV ad

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The making of the Christmas TV ad Developing our Christmas TV ad

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North East England

The North East Strong regional economy

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+7.5% population growth 2005-2014

£27.0k average annual earnings UK average £27.6k

47% house prices lower than UK average

100,000 students

Source: Invest Newcastle (NGI)

intu Metrocentre

intu Metrocentre History and recent activity

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2007 – retail park acquired

2012 – MetrOasis built

2016 – Qube extension

2009/10 – Qube cinema

extension

2012 – Federation

Brewery site acquired

1986 – centre opened

1995 – centre

acquired by intu

2007 – 40% sold to GIC

2014 – Platinum mall

refurbished

intu Metrocentre Qube catering extension

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£17m total project cost

£1.4m incremental rental income

8.2% initial yield on cost

36% profit on cost

“In my eyes, the relocation to the Qube is the best decision that TRG (The Restaurant Group) have ever made. Put it this way, we were around 30th in our group and since our relocation and new design we are 2nd only to the huge Leicester Square site. The numbers speak for themselves.” General Manager, CHIQUITO, intu Metrocentre

intu Metrocentre BHS let to Next – new 85,000 sq ft flagship

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12 small units removed (6 relocations to other voids)

Increase on current rents

Improved tenant covenant

Existing Next unit under offer

Ground floor

First floor

intu Eldon Square

intu Eldon Square The heart of Newcastle city centre

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St. Andrew’s extension Grey’s Quarter

Mall refreshment

1976 centre opened

2016 Grey’s Quarter

restaurants opened

1980 1990 2000 2010

2010 St Andrew’s Way extension opened

2015 centre refurbished

intu Eldon Square Grey’s Quarter

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£15m total project cost (intu share)

£1.2m incremental rental income (intu share)

7.7% initial yield on cost

Appendices

9,250 free car parking spaces

intu Metrocentre Key metrics

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21 million annual footfall

2hrs 5mins average dwell time

72% of customers visit every month

33% of customers visit weekly

57% ABC1 social grade

2.6 million total population in catchment

342 stores

76% of shoppers are female

Source: CACI peak survey November 2015 *Gross Value Added (GVA) is a measure of the value of the goods and services produced in the economy.

£274.8 million total GVA*

intu Metrocentre Before and after

Before After

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61% ABC1 social grade

intu Eldon Square Key metrics

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Source: CACI peak survey November 2015 *Gross Value Added (GVA) is a measure of the value of the goods and services produced in the economy.

34 million annual footfall

1hr 40mins average dwell time

86% of customers visit every month

58% of customers visit weekly

1.8 million total population in catchment

140 stores

77% of shoppers are female

£273.4 million total GVA*

intu Eldon Square Before and after

Before After

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The North East intu owns the strongest destinations

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Source: CACI residential comparison market goods potential (£m). The amount that residents arriving at the centre have to spend on comparison goods each year.

Food & Beverage CBRE research: Eating out is an essential luxury

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2/3rds of people think F&B important in where to visit

47% stay longer if they eat or drink

75% say quality of food is important on deciding where to eat

Source: CBRE: Food & beverage in a shopping centre (2015)

“A strong food and beverage offer aligns with the view that shopping is a leisure activity” “Food and beverage will become increasingly important as a footfall and revenue driver for shopping centres”

Food & Beverage CBRE research: The future of F&B in shopping centres

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The number of people that say they go to a shopping centre just to eat or drink will increase

Any centre that allocates less than 10% of GLA to food and beverage is not sustainable. We see 25% becoming more normal in many centres

New restaurant and dining brands will launch to market through shopping centres

Tailoring the offer becomes even more important

There is still a lot of money to be made from a refreshed food court

Source: CBRE: Food & beverage in a shopping centre (2015)

Food & Beverage intu’s insight

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Source: CACI November 2015 exit surveys

166 mins dwell time catering users Non catering users 92 mins

£168m retail spend by catering users Non catering users £129m

95% retail conversion catering users Non catering users 88%

+5% growth in catering spend June 16 vs June 15