RomReal Ltd.

Earnings Release • Nov 29, 2018

RomReal : Third Quarter (Q3) 2018 Financial Results and Investor Presentation

RomReal : Third Quarter (Q3) 2018 Financial Results and Investor Presentation

RomReal hereby announces the third quarter 2018 results highlights:

Net Asset Value (NAV)

* Net Asset value was EUR 0.49 (NOK 4.86) per share, remaining at the same

level as the end of second quarter 2018. There were no changes made to the

value of the investment properties during the quarter.

Operational highlights

* A conditional sale of Balada Market (No.6 on the list) and 1.5 hectares of

the Industrial Park (No.4 on the list) has been agreed. On the Lakeside plot

(No.1 on the list) the Planning Permission was approved during August 2018

and construction of roads started during November 2018.

* Un-zoned land, 864,534 m2: In 26 January 2018, the Company entered in a pre-

sale agreement for a total price of EUR 625,060 (vs EUR 389,000 as per

independent valuation). The transaction is closed and the last instalment of

EUR 495,000 was collected during July 2018.

* During July 2018, RomReal received a tax claim in excess of EUR 1.7m. E&Y

has been retained and the Company will pursue all legal means in order to

dismiss the claim. On 18th July 2018, the Constanta Court of Appeal ordered

that no attachments to the bank accounts and/or lands belonging to Westhouse

Group should take place. There is on-going communication with the Central

Tax Authorities, but no conclusion at the time being.

Financial Results

* Net Result for the quarter was EUR 18,000 loss compared to a EUR 361,000

loss in 3Q 2017. Operating cash flow for the quarter was a negative EUR

284,000 compared to minus EUR 195,000 in the same period last year.

* At the end of the quarter, the Company had a cash position of EUR 3.7

million plus a total of EUR 1,050,000 in unsettled receivables related to

binding sales agreements, totalling at about EUR 4.7 million or about EUR

0.1 per share.

Macro and real estate market highlights

* Romania has registered the fastest growth rate of its economy among the 28

European Union member states in the third quarter of this year of 1.9

percent, according to Eurostat. Compared with the third quarter of 2017, the

Romanian economy grew by 4.3 percent, the fastest pace this year.

* The third quarter of 2018 witnessed a slowdown in terms of residential price

growth, however, there still was an increase of circa 5.6% compared to the

same period of 2017. Equally, in Bucharest apartment prices stand about 35%

below the prices they commanded in the same quarter of 2008. According to

the real estate platform immobiliare.ro, asking prices in Romania registered

a marginal increase during the third quarter reaching EUR 1,220 /sqm. Prices

in Constanta have reached in September 2018 EUR 1,148 /sqm, a 4.8% increase

since the beginning of the current year.

A recorded investor presentation webinar will be made available by

10:00am Friday 30 November at www.romreal.com

For further information please contact:

Harris Palaondas

IR

investors@romreal.com

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.