Core Insights - The Baltic Horizon Fund's net asset value (NAV) per unit decreased to EUR 0.6773 at the end of September 2025, down from EUR 0.6784 at the end of August 2025 [1] - The total net asset value of the Fund at month-end was EUR 97.2 million, a slight decrease from EUR 97.4 million in August 2025 [1] - The EPRA NRV as of September 30, 2025, was EUR 0.7224 per unit [1] Financial Performance - In September 2025, the Fund generated consolidated net rental income of EUR 1.0 million, down from EUR 1.1 million in August 2025 [2] - A EUR 0.5 million allowance for bad debts was recorded as part of a conservative debtor risk management approach, representing a one-time, non-cash provision [2] - Management successfully retrieved EUR 0.3 million of outstanding debts during September and expects no additional material bad debt provisions by year-end [2] Asset Management - As of the end of September 2025, the Fund's consolidated cash and cash equivalents amounted to EUR 6.0 million, an increase from EUR 5.8 million at the end of August 2025 [3] - The total consolidated assets of the Fund were EUR 237.7 million at the end of September 2025, down from EUR 238.2 million in August 2025 [3]

Group 1: Net Asset Value and Financial Performance - The net asset value (NAV) per unit of the Baltic Horizon Fund decreased to EUR 0.6740 at the end of April 2025, down from EUR 0.6769 as of 31 March 2025, with a total NAV of EUR 96.8 million compared to EUR 97.2 million in March 2025 [1] - The decrease in NAV was attributed to a decline in the fair value of derivative financial instruments and expenses from early partial bond redemption [1] - The EPRA NRV as of 30 April 2025 was EUR 0.7200 per unit [1] Group 2: Rental Income and Cash Position - The consolidated net rental income of the Fund remained stable at EUR 1.0 million in April 2025, unchanged from March 2025 [2] - At the end of April 2025, the Fund's consolidated cash and cash equivalents were EUR 8.2 million, down from EUR 12.8 million as of 31 March 2025 [3] - The total consolidated assets of the Fund decreased to EUR 239.0 million at the end of April 2025, down from EUR 243.2 million in March 2025, primarily due to an early partial redemption of bonds amounting to EUR 3 million on 10 April 2025 [3]