Trigon Property Development — Interim / Quarterly Report 2021

May 31, 2021

Company AS Trigon Property Development

Type Company Release

Category Management interim statement or quaterly financial report

Disclosure time 31 May 2021 10:33:56 +0300

Attachments:

• 2021 I Q interim ENG.pdf (http://oam.fi.ee/en/download?id=5575)

• 2021 I kv vahearuanne EST.pdf (http://oam.fi.ee/en/download?id=5576)

Currency

Title

Unaudited financial report for the first quarter of 2021

The main business activity of Trigon Property Development AS is real estate development. As at 31.03.2021, AS Trigon Property Development owned one development project with an area of 18 hectares in the City of Pärnu, Estonia. An industrial and logistics park is planned to be developed on this area. The Company's objective is to find companies willing to bring their business activities (industry, logistics) to the development project area of AS Trigon Property Development in Pärnu, which would add value to the land plots owned by the Company.

In the first quarter of 2021 a 3.43-hectare property at the price of 824 040 (VAT not included) euros was sold.

Condensed statement of financial position as of 31 March 2021 delivered by the present announcement completely reflects the assets, liabilities and equity capital of AS Trigon Property Development.

According to the condensed statement of comprehensive income the net profit for first quarter of 2021 of AS Trigon Property Development is 64,668 euros and the earnings per share is 0.01437 EUR.

As of 31 March 2021 the assets of AS Trigon Property Development were 2,558,670 euros. The equity of the company was 2,556,022 euros, corresponding to 99.9 % of the total balance sheet.

Condensed statement of financial position

+------------------------------+------------+------------+ | EUR | 31.03.2021 | 31.12.2020 |

Finantsinspektsioon http://www.fi.ee

+------------------------------+------------+------------+ Cash +------------------------------+------------+------------+	940,352	146,890
Receivables and prepayments +------------------------------+------------+------------+	4,138	789
Total current assets +------------------------------+------------+------------+	944,670	147,679
Investment property +------------------------------+------------+------------+	1,614,000	2,350,000
Total non-current assets	1,614,000	2,350,000
+------------------------------+------------+------------+ TOTAL ASSETS	2,558,670	2,497,679
+------------------------------+------------+------------+ Payables and prepayments	2,648	6,325
+------------------------------+------------+------------+ Total current liabilities	2,648	6,325
+------------------------------+------------+------------+ Total liabilities	2,648	6,325
+------------------------------+------------+------------+ Share capital at book value	2,299,020	2,299,020
+------------------------------+------------+------------+ Share premium	226,056	226,056
+------------------------------+------------+------------+ Statutory reserve capital	287,542	287,542
+------------------------------+------------+------------+ Accumulated loss	-256,596	-321,264
+------------------------------+------------+------------+ Total equity	2,556,022	2,491,354
+------------------------------+------------+------------+ TOTAL LIABILITIES AND EQUITY	2,558,670	2,497,679
+------------------------------+------------+------------+

Condensed statement of comprehensive income

+-----------------------------------------+----------+----------+
EUR		I Q 2021 I Q 2020
+-----------------------------------------+----------+----------+ Gain on sales of investment property	88,040	0
+-----------------------------------------+----------+----------+ Expenses related to investment property	-1,983	-4,260
+-----------------------------------------+----------+----------+ Gross profit /loss	86,057	-4,260
+-----------------------------------------+----------+----------+ Administrative and general expenses	-21,408	-3,220
+-----------------------------------------+----------+----------+ Operating profit /loss	64,649	-7,480
+-----------------------------------------+----------+----------+ Net financial income	19	4

Finantsinspektsioon http://www.fi.ee

+-----------------------------------------+----------+----------+ NET PROFIT /LOSS FOR THE PERIOD	64,668	-7,476
+-----------------------------------------+----------+----------+ TOTAL COMPREHENSIVE PROFIT /LOSS +-----------------------------------------+----------+----------+	64,668	-7,476

Rando Tomingas

Member of the Management Board

+372 667 9200

Finantsinspektsioon http://www.fi.ee