Core Insights - Eurocastle Investment Limited has released its interim management statement for Q3 2025, highlighting a shift in its investment strategy and financial performance [2][4]. Financial Performance - As of 30 September 2025, the Adjusted NAV is €15.1 million, or €15.01 per share, down from €15.2 million, or €15.19 per share in Q2 2025 [4]. - The pro forma Q3 NAV, after the release of reserves, is €20.3 million, or €20.20 per share [4]. - The company reported a loss of €111,000 for Q3 2025, equating to €0.11 per share, compared to a loss of €975,000 for the first nine months of 2025 [17]. Investment Strategy - Eurocastle launched a new investment strategy in 2024 through the European Properties Investment Fund (EPIF), focusing on acquiring small to mid-size real estate assets in Southern Europe [7][20]. - By the end of September 2025, EPIF had received over €61 million in capital commitments, with an additional €20 million raised in November 2025, totaling over €81 million [8]. - EPIF has invested €18.7 million in three investments, with a reported NAV of €19.9 million, reflecting a 4% increase relative to the capital called [9]. Business Updates - The company has released all reserves related to the legacy German tax matter, simplifying its financial reporting to a single IFRS-based NAV [4][11]. - Eurocastle's investment portfolio includes two commercial properties in Athens, Greece, and a significant interest in a portfolio of Italian real estate assets [13]. Board Changes - Mr. Constantine (Dean) Michael Dakolias retired as a non-independent director, and Mr. Alex Gillette has been appointed as a new non-independent director [14][15].

Core Viewpoint - Eurocastle Investment Limited has released its financial results for the first half of 2025, highlighting a significant increase in its Adjusted Net Asset Value (NAV) and the successful launch of its new investment strategy focused on Southern Europe real estate [2][4]. Financial Performance - The Adjusted NAV as of June 30, 2025, is €15.2 million, or €15.19 per share, an increase of €3.76 per share from €11.43 per share in Q1 2025 [4][24]. - The IFRS NAV is reported at €21.2 million, or €21.19 per share, down from €22.01 per share in Q1 2025 [4][24]. - The company has net corporate cash of €15.2 million available for investments under its new strategy [5]. New Investment Strategy - Eurocastle launched the European Properties Investment Fund (EPIF) in 2024, targeting small to mid-size real estate assets in Southern Europe [6][21]. - By the end of June 2025, EPIF had secured over €61 million in capital commitments, with an additional €25 million raised in July 2025 [7][10]. - The fund has made two commercial real estate investments in Athens, Greece, focusing on distressed assets with strong value-creation potential [9][10]. Business Updates - The EPIF reported a NAV of €8.3 million by June 30, 2025, reflecting an 8% increase relative to the capital called [10]. - Eurocastle's subsidiaries are entitled to management and incentive fees from third-party investors, enhancing revenue potential [8]. - The company has an active pipeline of investment opportunities exceeding €50 million [12]. AGM Results - All resolutions presented at the 2025 Annual General Meeting were approved, indicating shareholder support for the company's strategic direction [17]. - The company issued 1,000 ordinary shares to each of its three independent directors as part of their compensation arrangements [18].