RomReal Ltd.

Earnings Release • Feb 25, 2016

RomReal : Fourth Quarter (Q4) 2015 Financial Results and Investor Presentation

RomReal : Fourth Quarter (Q4) 2015 Financial Results and Investor Presentation

RomReal hereby presents the main highlights of the fourth quarter 2015:

Net Asset Value (NAV)

* Net Asset value was EUR 0.44 (NOK 4.10) per share at the end of Q4 2015, a

5.8% decrease compared to the end of Q3 2015. As of 4Q 2014, NAV was EUR

0.48 (NOK 4.04).

Valuation

* Knight Frank Romania has conducted its annual valuation. The valuation

resulted in a 3.1% reduction in the property value on a comparable plot

basis as of the end of 2015.

Operational highlights

* No further sales were completed by the Company during Q4 2015. The Company

finalised the 1 year extension of the Alpha Bank loan, currently due on 29

November 2016. The Company holds an option to extend the loan another year

to 29 November 2017.

Financial Results

* Net Result was a negative EUR 1,881,000 in 4Q 2015 compared to negative EUR

1,469, 000 in 4Q 2014. The loss is mainly explained by a currency effect due

to a depreciation of RON by 2.3% against the EUR during the quarter and a

reduction in the property values as a result of the new valuation report.

Operating cash flow for the quarter was minus EUR 64,000 compared to minus

EUR 145,000 in the same period last year.

Macro and real estate market highlights

* Romania's GDP increase by 3.7% in 2015. The economy is well balanced with

low and stable interest rates and low and falling inflation. Economy

analysts forecast robust growth for 2016 with 3.7% driven by strong domestic

demand and increased export.

* Following NBR's policy rate cut in May to a historically low level of 1.75

%, the low level of interest rates will continue to bolster domestic demand

in 2016. While a deterioration of global investor sentiment may hinder

growth prospects in the near term, medium-term growth prospects in Romania

are favourable, reflecting the diversified economy, large market size and

significant scope for convergence within the EU.

* Average apartment prices in Romania increased 5.9%, while in Constanta

prices increased 7.1% during 2015. A potential threat to the further

residential real estate recovery is the currently discussed law that will

allow debtors to limit their liability to their lender by passing the

ownership of the property to the lender. As the law is currently being

debated and some banks suggest that if enacted, they will be forced to raise

the minimum down payment to about 35%.

RomReal invites investors, analysts and media to a conference call, to be held

tomorrow Friday, 26 February 2016, at 9.00 a.m. Oslo time. Those who would like

to attend the conference call are invited to dial:

Participant Joining Details

UK Freefone: 0800 389 7473

UK Direct: 01296 480 180

International direct: +44 1296 480 180

Global Access Numbers: http://www.btconferencing.com/globalaccess/?bid=54_auto

mated

Global Access Numbers are in-country toll free or local dial-in numbers for

this conference. Give this URL to anyone -- both speakers and participants --

joining the conference so they can find the appropriate in-country dial-in

number. You can also use these Global Access dial-in numbers if you are

travelling.

Passcode: 860 158#

For further information please contact:

Harris Palaondas

RomReal Ltd - Investor Relations

+40731123037

www.romreal.com

investors@romreal.com

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1989609]