The net asset value of EfTEN Real Estate Fund AS shares as of 31.01.2024

In January, EfTEN Real Estate Fund AS consolidated rental income was 2,541 thousand euros. The month prior, in December 2023, the fund earned 2,779 thousand euros in rental income, which included the year-end turnover rents from shopping centers totaling 211 thousand euros.

The fund's consolidated EBITDA was 2,168 thousand euros in January (December 2023: 2,181 thousand euros). This time, the comparison period includes for the first time the results of the real estate properties of the former EfTEN Kinnisvarafond AS, as the balance sheet date of the funds' merger was January 1, 2023.Compared to January 2023, the fund's consolidated net rental income increased by 2% and EBITDA by 1%.

The fund's consolidated cash balance increased by 760 thousand euros in January to 18,871 thousand euros including short-term deposits as of January 31, 2024. The fund's subsidiaries made investments in existing property investments totaling 1,061 thousand euros, including 754 thousand euros for the construction of the Ermi elderly home.

The weighted average interest rate on the subsidiaries' bank loans was 5.91% at the end of January (unchanged from December).

The Net Asset Value per share of EfTEN Real Estate Fund AS as of January 31, 2024, was 20.3368 euros and the EPRA NRV was 21.0917 euros. The Net Asset Value per share increased by 0.6% in January.

Marilin Hein
CFO
Phone +372 6559 515
E-mail: marilin.hein@eften.ee

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• EREF_reports_monthly_01.2024