The net asset value of EfTEN Real Estate Fund AS shares as of 28.02.2026

EfTEN Real Estate Fund AS earned €2,742 thousand in consolidated rental income in February, which is €4 thousand higher than in January, mainly due to an increase in rental income in the office segment.

The Fund’s consolidated EBITDA amounted to €2,276 thousand in February, which is €32 thousand higher than in January, primarily due to lower administrative and general expenses of the Group.

During the first two months of 2026, the Group earned €5.48 million in rental income (7.0% higher than in the same period last year) and €4.5 million in EBITDA (7.8% higher year-on-year). The increase in rental income and EBITDA has mainly been driven by new investments in the elderly care segment, the addition of the Paemurru logistics centre, stronger operational results of Mustika Centre, as well as lower vacancy in the office segment and indexation of lease agreements.

During the first two months of this year, the Group earned €2.36 million in adjusted cash flow, which is 29% (€530 thousand) higher than in the same period last year. The Group’s interest expenses during the first two months of the year totalled €1.04 million, which is €193 thousand (16%) lower compared to the same period last year.

The weighted average interest rate of the loans of the Fund’s subsidiaries was 3.99% at the end of February, which is 0.59 percentage points lower compared to the same period last year.

The Group’s consolidated cash balance increased by €894 thousand in February, reaching €22.65 million at the end of the month, including short-term deposits.

As of 28 February 2026, the Fund’s NAV per share was €20.5978 and EPRA NRV was €21.5619. The NAV per share increased by 0.7% in February, as usual.

Marilin Hein

CFO

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