EfTEN Real Estate Fund III AS share net value as of 30.09.2022

The net asset value (NAV) of the share of EfTEN Real Estate Fund III AS was 20.3183 euros as of 30.09.2022, increasing by 0.8% during September. The net value of the EPRA share (EPRA NRV - accounting net value without taking into account the deferred income tax liability and the fair value of interest derivatives) was 21.61 euros as of 30.09.2022, increasing by 0.7% in September.

In September, the fund earned a total of 1,133 thousand euros in consolidated rental income, which remained the same as the month before. The fund's consolidated EBITDA for September was 1,020 thousand euros, which is 17 thousand euros more than in August, mainly due to lower marketing costs.

During the nine months of 2022, the fund has earned a total of 10,000 thousand euros in rental income (13% more than in the same period last year) and 8,821 thousand euros in EBITDA (also 13% more than last year), i.e. EBITDA calculated on a comparable basis for these investment properties which were also in the fund's balance sheet during the last 9 months, this year increased by 8% compared to the previous year.

This year, the fund has earned a total of 4.623 million euros in free cash flow, which is the basis for dividend payments, i.e. 22% more than at the same time last year. The estimated potential gross dividend, based on the fund's dividend policy, is 72.91 cents per share based on the 9 months of 2022 (2021 9 months: 57.24 cents per share).

The consolidated equity of EfTEN Real Estate Fund III AS was 103.066 million euros as of 30.09.2022 (31.12.2021: 96.914 million euros).

Marilin Hein

CFO

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