Cromwell European REIT delivers resilient set of 1H 2023 results

Key highlights:

• 1H 2023 portfolio NPI +3.9% like-for-like vs  pcp (light industrial / logistics NPI +8.7% like-for-like vs pcp) supporting adjusted DPU (-4.5% vs pcp)
• 39.5% aggregate leverage provides ample headroom of ~€500 million to MAS limits
• Portfolio occupancy at >95%, led by effective majority weighting to light industrial / logistics sector that is 98% occupied

For further details, please refer to the media release and presentation deck in the links.

In a separate announcement made following the release of its 1H 2023 results, CEREIT announced that has entered into a €157,500,000 sustainability-linked Term Loan Facility (the “Term Loan Facility”).

Key highlights:

• The Term Loan Facility has a fixed maturity of 2 years with the option to extend the termination date in years 3 and 4 at the Borrower’s request
• The proceeds from the Term Loan Facility are intended to be used to refinance CEREITs existing financial indebtedness
• The Term Loan Facility has three sustainability-linked KPIs that are set and measured on an annual basis over a four-year period.
• The mandated lead arrangers for the Term Loan Facility are ING Bank N.V.(“ING”) and Credit Agricole Corporate and Investment Bank(“CACIB”)

For further details, kindly refer to announcement.

Our investors are at the forefront of everything we do.

The Manager is committed to ensuring that CEREIT meets expectations of good corporate governance and sustainable business practices while seeking to achieve superior investor performance over the medium and long term.

The Board and the Manager are both proactive with respect to corporate governance and actively review developments to determine which corporate governance arrangements are appropriate for CEREIT and its investors.

The Code of Corporate Governance 2018 is adopted as the REIT's benchmark for corporate governance policies and practices.