Financial report for the period January 1, to June 30, 2025

Financial Performance - The profit before value adjustments and tax for the period January 1 to June 30, 2025, was T.EUR 214.0, which is considered as expected [3] - Rental income (excluding service charges and other) for the same period amounted to tEUR 2,076, reflecting a 3.4% increase from tEUR 2,007 in the same period of 2024 [3] - By segment, "commercial" rental income increased by 2.6%, "residential" increased by 7.6%, while "office" rental income declined by 1.6% [3] Market Valuation - The fair market value of investments in German properties was assessed at EUR 88.5 million as of June 30, 2025, down from EUR 91.1 million as of December 31, 2024, indicating a negative value adjustment of EUR -2.6 million [3] - The total equity of the group as of June 30, 2025, amounted to EUR 60.7 million, with liquid reserves of EUR 3.3 million [3] Future Outlook - The Group's result for 2025 before value adjustments and tax is expected to be at the higher end of the range of EUR 0.3 - 0.7 million [3] - Future focus will be on increasing investments in Danish and Swedish properties to build a robust and diversified portfolio, with an emphasis on stable Nordic markets to reduce exposure to Germany [3]