Introduction and key metrics Home Investors Debt information Share Introduction and key metrics Revolving bank facility Private placement notes Convertible bonds Debenture Joint venture debt Interest rate management We seek to minimise our cost of capital through the appropriate mix of equity and debt finance, and ensure that we have access to sufficient financial resources to successfully implement our business plans. As a property company, we believe that we should deliver returns that are enhanced - and not driven - by our financial leverage. Historically, we have maintained low gearing relative to the property sector. This helps provide downside protection when operating in the cyclical central London property markets, as well as maintain the financial flexibility to allow us to act quickly on new investment opportunities as they arise. Our sources of debt funding are diverse, both secured and unsecured, and include the public, private and bank markets. We maintain an attractive debt maturity ladder that fits our business. March 2020 March 2021 Net debt excluding JVs (£m) 349.4 477.5 Net gearing 16.2% 24.4% Total net debt including 50% JV non-recourse debt (£m) 373.3 450.9 Loan-to-property value 14.2% 18.4% Total net gearing 17.1% 23.1% Interest cover n/a n/a Weighted average interest rate 2.2% 2.5% Weighted average cost of debt 3.0% 2.7% % of debt fixed/hedged 69% 91% Cash and undrawn facilities (£m) 411 443 We would like to set performance and analysis cookies to help us to improve our website. Please click accept to allow us to do so. For more information, please see the “visit this website” section of our privacy notice Accept Close GPE 33 Cavendish Square London W1G 0PW Contact How to find us Quick links Our Portfolio 2021 Annual Report News & Media Follow us ® Great Portland Estates plc 2021 Sitemap Privacy Notice Terms of use Accessibility Our modern slavery statement Contact

Our guiding principles for design Home About Us Share Our Guiding Principles for Design help us to create spaces for London to thrive. The world of the workplace continues to rapidly evolve and in order to stay ahead of occupiers’ needs, these guiding principles provide a transparent checklist for our consultants to consider in the design and operation of our assets. We would like to set performance and analysis cookies to help us to improve our website. Please click accept to allow us to do so. For more information, please see the “visit this website” section of our privacy notice Accept Close GPE 33 Cavendish Square London W1G 0PW Contact How to find us Quick links Our Portfolio 2021 Annual Report News & Media Follow us ® Great Portland Estates plc 2021 Sitemap Privacy Notice Terms of use Accessibility Our modern slavery statement Contact