Real estate value adjustment – 14.08.2024

The Company’s Board of Directors has valued the German real estate portfolio of the German High Street Properties Group at EUR 89.5 million as of June 30, 2024, resulting in a negative value adjustment of EUR 1.5 million in the 2^nd quarter 2024 compared to the most recent property value as of December 31, 2023.

The total negative value adjustment in the financial report for the period from 1 January to 30 June 2024 therefore amounts to EUR 1.5 million.

German real estate valuation since 31.12.2021:
German real estate valuation 100.7 million euros as of 31-12-2021
German real estate valuation 99.2 million euros as of 30-09-2022
German real estate valuation EUR 96.0 million as of 31-12-2022
German real estate valuation EUR 93.0 million as of 31-09-2023
German real estate valuation EUR 91.0 million as of 31-12-2023
German real estate valuation 89.5 million euros as of 30.06.2024

The reason for the decline in real estate values ​​in 2^nd The quarter of 2024 will see a combination of increasing yield requirements for German shopping centres and a significant decline in the number of real estate transactions.

If you have any questions, please contact the undersigned at +45 8110 0800.

Kind regards, German High Street Properties A/S

Hans Thygesen
Chairman of the Board of Directors