Press releases

In the period to September 2023, the Fund generated gross and net rental income of EUR 4,938,000 and EUR 3,466,000 respectively. This corresponds to a 10.5% increase in year-to- date net rental income compared to the same period last year. Financial expenses increased by 48.5% in the first nine months compared to the corresponding period last year. This increase is largely due to the strong increase in EURIBOR/PRIBOR interest rates. The loan- to-value ratio is 40.0% as of September 30.

The Fund achieved a pre-tax profit of EUR 601,000 in the third quarter, a substantial increase compared to the EUR 370,000 profit in the second quarter. The increase was driven by the improvement in the operational result and the positive sales result of parts of the Bulgarian Boyana Residence project. The profit after tax for the third quarter amounted to EUR 491,000, 66% higher than the second quarter.

The result before tax, adjusted for indirect results, amounted to EUR 196,000 in the third quarter, an increase of 37.1% compared to the second quarter.

As of September 30, 2023, the occupancy rate was 86.7%, up from 84.9% at the end of June 2023. This improvement is mainly due to the new lease agreements for the modern Maris office building in the center of Szczecin , Poland.

Forecast

The Fund will continue its disposal programme for non-core holdings in Slovakia and Bulgaria to generate capital for the reverse bookbuilding process. This move is part of an intended strategy to monetize a portion of the Fund's assets, aiming to return substantial amounts to shareholders and offer an exit opportunity for those who wish to withdraw from

the Fund. This process will be submitted for approval to the shareholders during an extraordinary general meeting on December 20, 2023.