Building Together contributes to the bottom line for our customers as well as ourselves, whilst helping us to achieve our wider goals.

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1 Corporate Responsibility Summary Report 28/9 Global 1 Most Sustainable Corporations 29 British Land I am delighted to have joined a company that recognises the value of adopting a broad approach to business. A disciplined 2% corporate responsibility strategy makes good LESS commercial sense, as well as being beneficial for ENERGY the environment and society. USED For us, corporate responsibility is measurable and deliverable, as well as being a critical part of our approach to business. It is a way of reducing energy bills and helping to protect the environment. Measurement means that we assess economic and environmental benefits in arriving at business decisions, and that we then evaluate our performance in a quantitative manner. Corporate responsibility is certainly not something to cut back on just because market conditions are tough. We also recognise that in an industry like ours, partnering with others is critical to maximising the benefits associated with corporate responsibility. We call this approach Building Together. Building Together contributes to the bottom line for our customers as well as ourselves, whilst helping us to achieve our wider goals. We hope that you find this year s report interesting and informative. We welcome your feedback. Chris Grigg Chief Executive of British Land 94% DIVERTED FROM LANDFILL 82% CUSTOMER SATISFACTION We used 2% less energy in our like-for-like portfolio, compared to 24, and 15% less mains water. We also became carbon neutral. We recovered 94% of demolition waste and over 8% of construction waste. We also recycled 59% of managed waste at our properties. 82% of our customers rated their satisfaction as good or excellent, an increase from 73% in k COMMUNITY INVESTMENT We invested 718, in good causes through cash contributions, employee time and gifts in kind. Excellent ratings LESS CARBON Regent s Place One, Regent s Place Two and Ropemaker achieved BREEAM Excellent environmental ratings. Our new developments are designed to be energy efficient, with less predicted carbon dioxide emissions on average than current standards. The picture above shows Ropemaker, which was voted Estates Gazette s Green Office Development of the Year 28. Extensive green roofs and terraces enhance biodiversity and provide an attractive environment for occupiers. All facts and figures in this Report cover the period from 1 April 28 until 31 March 29, unless otherwise stated. For our full Corporate Responsibility Report: britishland.com/crreport/29

2 Our use of resources Improving energy efficiency, reducing water use and cutting waste to landfill reduces our costs and those of our occupiers, as well as conserving precious natural resources. ENERGY USE* We used 2% less energy in the common parts of our like-for-like portfolio than in 24. However, we used 1% more energy in the common parts of our like-for-like portfolio than last year. For details on the reasons for this increase and for information about what we are doing to reduce energy use year-on-year please see our full online Corporate Responsibility Report britishland.com/crreport/29 We focus on like-for-like energy use because this removes the impact of changes in our portfolio and in the number of properties reporting data. We aim to reduce like-forlike energy use by 2% by 212, compared to 24. We will continue to work with our property management teams, occupiers and consultants to improve energy efficiency. 24 like-for-like energy use (kwh) 4,, 35,, 3,, 25,, 2,, 15,, 1,, 5., 24/5 25/6 26/7 27/8 28/9 parks Shopping centres It helps us to work with an organisation that takes its environmental responsibilities seriously. We are able to benefit from the initiatives that they have in place. Andrew Varley Estates Director at Next Group PLC, retail occupier WATER USE* We used 15% less mains water in the common parts of our like-for-like portfolio than in 24. We also used 6% less water in the common parts of our like-for-like portfolio than last year. Next year, we will monitor the amount of water that is sourced using rainwater and borehole schemes, as part of our efforts to encourage the use of water from non-mains sources. We aim to reduce like-for-like water use by 2% by 215, compared to like-for-like water use (cubic metres) 35, 3, 25, 2, 15, 1, 5, 24/5 25/6 26/7 27/8 28/9 parks Shopping centres *This year, we captured more of our resource use data, reporting energy use, water use and carbon emissions across our managed portfolio in the UK and Continental Europe. An error was identified relating to reported gas use across our office portfolio. Data has been adjusted to correct this, including previously reported figures. We will continue to work with environmental experts and our managing agents to ensure that our resource use data is accurate and comprehensive. Our annual like-for-like portfolio comprises those properties that were in our portfolio last year and are still in our portfolio; this comprises 65% of our total energy use this year, and 55% of our total water use. Our 24 like-for-like portfolio comprises those properties that were in our portfolio in 24/5 and are still in our portfolio; this comprises 58% of our total energy use this year, and 43% of our total water use. CARBON NEUTRAL* We contributed zero net carbon into the atmosphere from our Scope 1 and 2 activities. We are working with our occupiers and suppliers to reduce carbon emissions by: Measuring our carbon footprint Improving energy efficiency Developing sustainable buildings Increasing our use of low-carbon energy sources. We offset remaining emissions from our Scope 1 and 2 activities, excluding electricity from Climate Change Levy (CCL) exempt sources, Carbon emissions (tonnes) 3, 25, 2, 15, 1, 5, Fuel use from company owned vehicles 11,543 Our carbon neutral commitment (tonnes) Energy use in space occupied by us and our subsidiaries for example combined heat and power schemes and renewable source power. We purchased 64,647 of carbon credits to offset 11,754 tonnes of emissions. This will help to fund a project in India that uses waste heat from the production of iron and steel to generate electricity. We will continue to work with environmental experts and managing agents to ensure that our carbon data is accurate and comprehensive ,552 Our carbon emissions including CCL exempt electricity (tonnes) Energy use and refrigerant loss in common parts of our managed portfolio

3 Our use of resources CONTINUED WASTE MANAGEMENT* 85% of waste diverted from landfill. This year, we recycled 9,366 tonnes of managed waste, incinerated 4,149 tonnes and sent the remaining 2,337 tonnes to landfill. We also worked in partnership with occupiers at 21 Bishopsgate and the Broadgate Tower in London EC2, re-using or recycling 97% of fit-out waste and diverting 1,693 tonnes from landfill. We aim to send zero managed waste to landfill from our entire portfolio by 212. Property Week Awards 28 British Land, UK Developer of the Year Estates Gazette Green Awards 28 Ropemaker, Green Office Development of the Year Business in the Community Awards 28 Meadowhall Shopping Centre, waste management and energy efficiency Landfill 15% Incinerated 26% Recycled 59% * This data includes the majority of managed waste from our UK portfolio SUSTAINABLE DEVELOPMENTS* BREEAM Excellent environmental ratings for Regent s Place One and Regent s Place Two in London NW1 and Ropemaker in London EC2. Our project teams continued to apply our Sustainability Brief for Developments, considering environmental and social issues during design and construction. This is contributing to the majority of our developments exceeding our corporate targets. Our Environmental Management System for developments achieved ISO:141 certification and we improved the comprehensiveness and accuracy of our sustainable developments data. Next year, we are raising the standards further, with a minimum of 85% of construction waste to be diverted from landfill, and 95% of demolition waste. The computer-generated image to the right shows part of our Regent s Place masterplan, which will have a transformative effect on the estate, improving public spaces and enhancing pedestrian routes. Sustainable developments 28/9 Target % 1% New office developments achieving or set to achieve a BREEAM Excellent rating 1% 1% New residential developments set to achieve a minimum Code for Sustainable Homes Level 3 1% 75% Developments conforming to the mandatory aspects of our Sustainability Brief 8% 94% *In line with previous years, we have reported data for our UK office developments, encompassing 8% of our development portfolio by value. Next year, we will also be reporting data for our retail and Continental European developments. 75% of our UK office developments reported the percentage of materials used containing recycled content. Demolition and strip-out materials recovered 7% 8% Construction waste recovered 2% 24% Materials used containing recycled content 1% Predicted better than Part L2A Building Regulations 26

4 Our customers and us Building closer relationships with customers enables us to meet their changing business needs more successfully, manage our broader environmental impacts more effectively and improve our long-term financial performance. CUSTOMER SATISFACTION 82% of our customers rated their satisfaction as good or excellent, compared to 73% in 27. The majority of feedback from our third independent customer satisfaction survey was positive. We performed consistently better than the industry average, as measured by the Occupier Satisfaction Index 28. We are pleased that, by working with our managing agents and our occupiers, we are meeting our occupiers needs more successfully. We will focus on addressing the priorities identified by our customers, including: Targeting annual 15% reductions in service charges across our shopping centre portfolio, and 5% reductions across our retail park portfolio. Working with office occupiers to identify potential reductions in service charge costs, whilst maintaining essential services. We will establish occupier focus groups and hold building-specific budget consultation meetings each autumn. Improving how we keep occupiers informed about physical works that affect them, as well as working with contractors to minimise disruption during construction. Estates Gazette Awards 28 British Land, Property Company of the Year for Property Managers Association (PMA) Awards 28 British Land, Best Service Charge Provider of the Year Parkgate Shopping in Rotherham Office occupiers 29 rating good or excellent (%) % % 74% Communication 17% Responsiveness Industry average (Occupier Satisfaction Index 28) * The industry average refers to overall value for money provided by the property industry, including rent. 66% of our occupiers stated that our sustainability initiatives added value to their business and 52% said that environmental initiatives were now more important than they were a year ago. 63% We piloted new environmental partnerships between occupiers and the building management teams in four office buildings, to target resource use reductions. As a result of this we developed a Carbon Reduction Memorandum of Understanding, which aims to reduce resource use, as well as generating cost savings. Next year, we will be targeting 3% of all occupiers in multi-let office buildings to sign up to carbon reduction commitments and will be working with retail occupiers to raise awareness of energy saving initiatives. Understanding needs 2%* 26% occupiers 29 rating good or excellent (%) 29% 79% Communication 17% 66% Responsiveness 67% Understanding needs 2%* 18% Value for money (rent) Value for money (rent) 13% 13% 33% 17% Value for money (service charge) Value for money (service charge) British Land has become much more tenant friendly and gone away from the landlord versus tenant scenario. They listen more than they have ever done and are much more responsive than they have ever been. Nick Benbow, UK Property Director at Regus Group, office occupier at Regent s Place THE LEASE CODE 98% of our occupiers considered that we complied with the Lease Code. Customer satisfaction with our leases was generally above the industry average, with 47% of customers on average rating our lease flexibility as good or excellent. We will be working to improve this further. I feel they are making a genuine attempt to help their tenants out. Through talking to each other we understand one another better. Alan Stell, Estates Manager at JJB Sports, retail occupier THE SERVICE CHARGE CODE 94% of our occupiers considered that we complied with the RICS Service Charge Code. We report in line with the Service Charge Code accounting templates. Eight of our retail properties were independently audited by the PMA to assess compliance with the Service Charge Code, achieving six gold awards and two silver awards.

5 Our communities and us Listening to local people and backing local initiatives builds relationships, helping us to develop and manage properties that meet local needs. By acting in partnership to support good causes we also enhance our reputation. COMMUNITY INVOLVEMENT We invested 718, in good causes through cash contributions, employee time and gifts in kind. We invested in the future through education, the arts and sport, with particular emphasis on helping young people. 24% of our Head Office employees participated in volunteering initiatives during work time. Community investment 28/9.9m.8m.7m.6m.5m.4m.3m.2m.1m 82, ,898 27/8 28/9 Cash contributions Staff time FUNDRAISING We raised over 2, for good causes. In-kind contributions These figures are calculated according to London Benchmarking Group (LBG) guidelines. The vast majority of space, donated as a gift-in-kind, has been valued at cost rather than at market value. We achieved this thanks to the efforts and generosity of our employees, occupiers, and visitors to our properties. At Eastgate Shopping Centre in Basildon, five volunteers cycled 3 miles from London to Paris, raising money for the Touching Tiny Lives Appeal. At Parkgate Shopping in Rotherham, six volunteers walked 4 miles from Birstall Shopping Park in Leeds to Parkgate, to fund a guide dog for the blind. Over 2 people also spent the night sleeping out at Parkgate to raise money for Safe@Last, a charity for homeless children. REGENERATION This year, we contributed over 23 million to local initiatives through the planning process. Initiatives included improving public areas, enhancing pedestrian links, and developing affordable housing and community facilities, as well as consulting local people. This investment is a key part of our planning agreements with local authorities. Our developments often encourage local regeneration. The Canada Water masterplan, Colmore Row project and River Don District masterplan are expected to generate over 7, jobs once completed, many targeted at local people. The picture above illustrates part of our masterplan for the River Don District in Sheffield, which received a resolution to grant planning consent in December 28. Business in the Community Meadowhall and The Source The Employability Programme 28 British Land The Source at Meadowhall 29 British Land The Schools Programme at The Source 29 The picture above features young carers expressing themselves through movement. 53 young carers enjoyed creative projects delivered by Create, in partnership with Hackney and Westminster Young Carers Services. TRAINING AND EMPLOYMENT We helped to provide training to over 1,6 local people. Over 1,5 local people, including 185 unemployed, benefitted from training at The Source at Meadowhall in Sheffield. 17 unemployed young people completed The Prince s Trust Get into Customer Services course at St Stephen s Shopping Centre in Kingston-upon-Hull. Over 1 students completed the fifth annual Young Managers course at Broughton Shopping Park near Chester. At Broadgate in London EC2, the team worked with the East London Business Alliance and suppliers to provide 8 Joblink candidates with employment. We also ran recruitment events at many of our retail properties, helping more than 1, people to find work. YOUNG PEOPLE Over 7, young people participated in projects we funded. 67, children from more than 2, schools took part in the British Land Chess Challenge. Nearly 1,3 children from 128 schools played in the British Land Kids Cricket League, run by Capital Kids Cricket. Over 2, children from 16 schools received books and joined in events designed to inspire a love for reading, through the National Literacy Trust s Reading Is Fundamental initiative. By supporting schools near to our properties and developments we generate goodwill and positive publicity. This encourages local people to visit our retail properties and enhances our reputation.

6 Us and our suppliers It is only by working closely with our people and suppliers that we will be able to embed corporate responsibility within all levels of our business and throughout our supply chain. EMPLOYEE ENGAGEMENT We have 153 employees at our Head Office and around 65 people employed directly at our properties. We provided our employees with more frequent updates on corporate responsibility, in response to their feedback in our last survey. Next year, a new staff working group will identify ways to reduce waste and electricity use per full-time equivalent at our Head Office by 5%. The Times Top 2 Small Companies to Work For The Source at Meadowhall Green Apple Award 28 and Green Heroes Award 29 Bovis Lend Lease, at Regent s Place One and Two SUPPLIER PERFORMANCE We spent over 55 million with more than 3, suppliers, for us and our occupiers. We operate an outsourced business model, with external agents managing our properties, and project teams designing and building our developments. To achieve our objectives we work closely with our supply chain, monitoring performance on a quarterly basis. The picture above features members of our team who participated in a volunteering project at Netley Primary School in Camden, transforming an outdoor area. OUR CONSTRUCTION TEAMS This year, our contractors achieved an average Considerate Constructors Scheme score of 36 out of 4. This is 13% above the national average. The average reportable accident rate on our construction sites was.3 per 1, hours worked and the average lost-day accident rate was.16. OUR MANAGING AGENTS* Scored 92% on our customer-focused key performance indicators. This was an improvement on 67% last year. 43% of our customers independently surveyed in 29 rated satisfaction with our managing agents as good or excellent, an improvement on 4% in 27. We will continue working with our managing agents to improve performance further. Managing Agents performance Target Average days to respond to Licence for Alterations requests Average days to complete letter licences or instruct solicitors Target 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% Health and safety actions completed on-time (%) 77% 27 99% 28 1% 7% 27 96% 1% 28 *Managing agent scores are for the calendar year. Health and safety performance for office relates to our office estates at Broadgate and Regent s Place. These comprise 66% of our office portfolio. Independent assurance of all performance-based targets and resource use data by Bureau Veritas. Printed on Greencoat Offset paper made from 1% recycled and Totally Chlorine Free (TCF) fibre. It has been printed using vegetable-based inks by an ISO: 141 accredited printer. For our full Corporate Responsibility Report: britishland.com/crreport/29