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JPMorganCazenove European Real Estate Conference

15 January, 2015

ITINERARY

› 09:00 Arrive Jurys Inn

› 09:15 Presentation and Q&A

› 10:15 Split into walking groups

› 10:30 Site tour

›

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› 11:30 Departure

› Suggested train: 11:50 East Croydon to London Bridge

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HAMMERSON TEAM HERE TODAY

Timon Drakesmith – Chief Financial Officer

Peter Cole – Chief Investment Officer

Matthew McMillan – London Borough of Croydon

Carolyn Kenney – Retail DevelopmentCarolyn Kenney – Retail Development

Christie Baird – Asset Manager, Centrale

Rebecca Patton – Head of Investor Relations

Lindsay Noton – Head of Corporate Communications

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INTRODUCTION

Why Croydon? The strategic opportunity

50:50 JV

Unrivalled track record

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Unrivalled track record

Heart of Croydon’s regeneration

CROYDON PARTNERSHIP – WORKING TOGETHER

Croydon Partnership: Working together to deliver the Masterplan

› Combined Management Team

› Westfield engaged by the Partnership to undertake construction

› Hammerson asset management of existing Centrale and Whitgift

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› Hammerson asset management of existing Centrale and Whitgift

› Shared expertise on development delivery

“Croydon has huge potential to return to its former

glory as one of London’s most vibrant town

centres, and a major driver of its economy. The

redevelopment of the Whitgift Centre at its heart

is crucial to this vision”

Boris Johnson, Mayor of London

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5GATWICKBRIGHTONCROYDONTECH HUBOLD OPPORTUNITYNEW OPPORTUNITYCRYSTALPALACEBATTERSEAWATERLOOGATWICK

5GATWICKBRIGHTONCROYDONTECH HUBOLD OPPORTUNITYNEW OPPORTUNITYCRYSTALPALACEBATTERSEAWATERLOOGATWICK

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GATWICKDIAMONDNEW OPPORTUNITYLONDON’SNEW GROWTHCORRIDORGatwick Airportprovides an Olympicscale opportunityfor regeneration andinvestment in Croydon

GATWICKDIAMONDNEW OPPORTUNITYLONDON’SNEW GROWTHCORRIDORGatwick Airportprovides an Olympicscale opportunityfor regeneration andinvestment in Croydon

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CROYDON – THE RETAIL OPPORTUNITY

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CONNECTIVITY & CATCHMENT

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CONNECTIVITY & CATCHMENT

› Opportunity to capture south London corridor

› Trade area covers affluent regions of Kent, Surrey and South London

› Total catchment forecast

Brent Cross

Bluewater

Source: iCube Footfall Model 2013 16

› Total catchment forecast increase of 40% to over 2 mil people by 2021

› Attract £1bn of retail spend

THE CROYDON OF TOMORROW

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2New

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New Whitgift

site

CROYDON CORE – WHITGIFT + CENTRALE

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Whitgift

Centrale

ENHANCED CROYDON CORE

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NEW WHITGIFT DESIGN – NORTH END LEVEL

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NEW WHITGIFT DESIGN – WELLESLEY ROAD LEVEL

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NEW WHITGIFT DESIGN – FIRST FLOOR

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NEW WHITGIFT DESIGN – MEZZANINE LEISURE LEVEL

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NEW WHITGIFT SITE DESIGN – FLYTHROUGH

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SUMMARYRefurbished Centrale 700k ft2 retail & leisure, Debenhams, House of Fraser, 950 parking spaces

New Whitgift 1.5 mil ft2 new retail and leisure space

›Over 300 shops, restaurants and cafés

› Target anchor tenants – M&S, John Lewis John Lewis

›Multi-screen cinema, bowling alley, dining

› 3,500 car parking spaces

› 600 new residential units

Croydon Partnership will include

›Over 2 mil ft2 of retail and leisure

› 4 anchor tenants

› c.4,500 parking spaces 25

CROYDON PARTNERSHIP – PROGRESS TO DATE

› January 2013 Croydon Partnership formed

› March 2013 Partnership completed acquisition of 25% Whitgift interest

› November 2013 Planning resolution

› February 2014 Outline planning consent› February 2014 Outline planning consent

› April 2014 Compulsory Purchase Order made

› November 2014 Three-level scheme concept established

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PROGRAMME MILESTONES

› CPO Inquiry starts

› Confirmed CPO

› Land assembly

› Detailed planning and pre-letting

Early February 2015

H2 2015

2015 – 2016

2015 – 2016› Detailed planning and pre-letting

› Relocations and commencement

› Opening date

2015 – 2016

2016

2019 / 2020

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IMPACT ON HAMMERSON

1 mil sq ft

› Total development cost £1.25 – 1.5 billion

› Hammerson 50% share £625 – 750 million

› Would become one of

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Note: Estimated Whitgift scheme size versus net internal area of Hammerson UK existing shopping centres(potential future retail extensions indicated in black, including phase 2 of Leeds Victoria Gate)

› Would become one of Hammerson’s largest UK shopping centres

› Increased London exposure

› Growing the scale of UK shopping centre portfolio

Q&A

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