MESSAGE FROM THE CHAIRMAN

Francisco Montoro Alemán

Chairman – CEO

Dear shareholders, clients and collaborators,

I am delighted to share with you our key results from financial year 2018. I would like to begin by saying that this year has been a great year for Gmp during which our strategic plan, which started in 2014, has been finalized most satisfactorily.  For this reason, first I wish to highlight the milestones of the last five years in this message, as they have enabled us to grow and lay solid foundations to face the future with confidence:

Our strategic alliance with GIC, the Singapore Government sovereign wealth fund, which acquired a shareholding in the Company in October 2014, has strengthened our market position, intensifying investment activity at the right point of the cycle. The acquisition of new assets worth €380m over the last five years, which is much higher than the initial target figure of €200m, principally comprises value-added offices like Eloy Gonzalo 10, Castellana 77, Titán 4, Condesa de Venadito 1 and Manuel Cortina 2.  Further to this investment, the Company has focused on new developments on plots from its land bank such as Oxxeo in Las Tablas. In terms of scale and representativeness, special mention should also be made of the renovation work completed on the iconic building Castellana 81, after BBVA’s staggered exit in 2015 and 2017, transforming it into one of the most sustainable and cutting-edge properties on the market. I would like to take the opportunity to thank GIC for its valuable contribution and support. Our alliance was forged with long-term objectives in mind and the last five years of working together clearly demonstrates the success of the union and the desirability of continuing to leverage synergies in the future.

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COMPANY PORTFOLIO