RomReal Ltd.

Earnings Release • Feb 16, 2017

RomReal : Fourth quarter (Q4) 2016 results and Investor Presentation

RomReal : Fourth quarter (Q4) 2016 results and Investor Presentation

RomReal hereby presents the main highlights of the fourth quarter 2016:

Net Asset Value (NAV)

* Net Asset value was EUR 0.44 (NOK 3.97) per share, 4.0% up compared to the

end of Q3 2016. The increase in NAV is mainly explained by the new year end

valuation by Knight Frank Romania. The new valuation gave a 9.3% increase in

the property value on a comparable plot basis compared to the end of 2015.

* Net Asset Value was EUR 0.5 (NOK 4.59) if the values from 2(nd) January

2017 conditional sales agreements had been applied to the sold properties.

Operational highlights

* On 2(nd) January, the Company entered into two conditional sales

transactions representing 51% of its investment portfolio. The transactions

include the Mamaia North plots and the Morii Lake plot in Bucharest. The

transactions amount to an estimated EUR 17.75 - 18.25 million.

* The Company has exercised its option to extend the Alpha Bank loan until

28(th) April 2017. If the pending sales proceeds are not received as

expected, the loan will be automatically extended until 29 November 2017.

The Company plans to use the sales proceeds to repay in whole the loan

before the end of March.

Financial Results

* Net Result for the quarter was EUR 14,000 compared to an EUR 1,880,000 loss

in 4Q 2015. Operating cash flow for the quarter was a minus EUR 115,000

compared to minus EUR 64,000 in the same period last year.

Macro and real estate market highlights

* 2016 marked another strong macroeconomic year for Romania. In the second

quarter, Romania recorded the highest GDP growth of all EU's member states.

The strong trend continues. In the fourth quarter, the preliminary GDP

growth came in at 4.8%. Analysts expect growth to continue in 2017 on a high

note. The real estate market developed favourably. The turnaround from the

falling years following the 2008 boom, is now final. New buildings came in

strong in all major real estate segments. Total new buildings coming on

market in 2016 increased 88% compared to 2015 and the new lettable space was

the highest since the boom ended in 2008.

* With a record number of finished residential buildings and a 9% increase in

the number of transactions during the first 9 months, 2016 is expected to be

one of the best years for the residential market. Apartment price in Romania

have seen for the entire 2016 an increase of 10.4% to EUR 1,050 per m2,

while in Bucharest the increase was 6.7% to EUR 1,141 per m2 and in

Constanta an increase of 6.1% to EUR 973 per m2, compared with year end

A recorded investor presentation by RomReal Director, Arne Reinemo will be made

available tomorrow Friday 17 February at 10:00am CET at www.romreal.com.

For further information please contact:

Harris Palaondas

RomReal Ltd - Investor Relations

investors@romreal.com