EfTEN Real Estate Fund III AS share net value as of 31.08.2022

The net value (NAV) of EfTEN Real Estate Fund III AS shares was 20.1625 euros as of 31.08.2022. 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 21.45 euros as of 31.08.2022. Both NAV and EPRA NRV increased by 0.8% in August.

In August, the fund earned a total of 1,132 thousand euros in consolidated rental income, which is 10 thousand euros more than the month before. The increase came from the increase in rental income of Saules Miestas in connection with renting out vacant spaces in the center. The fund's August EBITDA exceeded one million euros for the first time and was a total of 1,002 thousand euros, i.e. 33 thousand euros more than in July.

During the eight months of 2022, the fund has earned a total of 8,867 thousand euros in rental income (14% more than in the same period last year) and 7,801 thousand euros in EBITDA (also 14% more than last year), i.e. the EBITDA of investment properties calculated on a comparable increased by 8% compared to the previous year.

This year, the fund has earned a total of 4.101 million euros of free cash flow, which is the basis of dividend payments, i.e. 30.4% more than last year. The estimated potential gross dividend based on the fund's dividend policy is 64.68 cents per share based on 2022 8 months (2021 8 months: 49.59 cents per share).

The consolidated equity of EfTEN Real Estate Fund III AS was 102.275 million euros as of 31.08.2022 (31.12.2021: 96.914 million euros).

Marilin Hein

CFO

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