Baltic Sea Properties

Earnings Release • May 15, 2024

Quarterly (Q1) 2024 report – Baltic Sea Properties (BALT)

Quarterly (Q1) 2024 report – Baltic Sea Properties (BALT)

We are pleased to present our Q1 2024 report, marking another period of revenue growth and sustained cash flow development despite a challenging real estate market and rising financing costs. Our EBITDA grew to MNOK 17.5 compared to MNOK 16.4 first quarter last year, although income from property management (IFPM) decreased, largely due to increased financing costs. Notably, our Net Asset Value (NAV) has strengthened by 1.84% (5.85% in NOK) since the end of last year, reflecting a robust operational strategy and resilience in our long-term investments.

For more detailed insights into our financial performance and strategic initiatives, please review the attached Q1 2024 quarterly report.

For further information, please contact:

Lars Christian Berger,

CEO

Phone: +47 930 94 319

Email: Lcb@balticsea.no

The information in this announcement is subject to disclosure requirements under the EU Market Abuse Regulation (MAR) and listing rules for Euronext Growth Oslo.

Baltic Sea Properties AS ("BALT" or "the Company", and together with the Company's subsidiaries, "BSP") stands as a dedicated entity in real estate investment, with a portfolio that spans logistics, industrial, and commercial segments, fostering a diversified and sustainable revenue stream.