Trigon Property Development

Quarterly Report • Nov 27, 2025

Unaudited financial report for the third quarter and 9 months of 2025

Unaudited financial report for the third quarter and 9 months of 2025

The main business activity of Trigon Property Development AS is real estate
development. As at 30.09.2025, AS Trigon Property Development owned one
development project with an area of 13.2 hectares in the City of Pärnu, Estonia.
A commercial, industrial and logistics park is planned 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. As the main purpose of the company is to sell existing land plots,
investment property was recognized as inventories.

In the third quarter of 2024, a 0.09-hectare transportation purpose land was
sold for 31,920 euros (excluding VAT).

In the fourth quarter of 2024, a 0.70-hectare property was sold for 300,000
euros (excluding VAT).

Condensed statement of financial position as of 30 September 2025 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 loss for
first 9 months of 2025 of AS Trigon Property Development is -76,185 euros and
the earnings per share is -0.01693 EUR.

As of 30 September 2025 the assets of AS Trigon Property Development were
1,824,030 euros. The equity of the company was 1,778,590 euros, corresponding to
97.51 % of the total balance sheet.

Condensed statement of financial position

+------------------------------+------------+------------+
| EUR | 30.09.2025 | 31.12.2024 |
+------------------------------+------------+------------+
| Cash and cash equivalents | 240,352 | 370,856 |
+------------------------------+------------+------------+
| Trade and other receivables | 21,177 | 31,586 |
+------------------------------+------------+------------+
| Inventories | 1,562,500 | 1,471,238 |
+------------------------------+------------+------------+
| Total current assets | 1,824,030 | 1,873,680 |
+------------------------------+------------+------------+
| TOTAL ASSETS | 1,824,030 | 1,873,680 |
+------------------------------+------------+------------+
| Trade and other payables | 45,441 | 18,906 |
+------------------------------+------------+------------+
| Total current liabilities | 45,441 | 18,906 |
+------------------------------+------------+------------+
| Total liabilities | 45,441 | 18,906 |
+------------------------------+------------+------------+
| Share capital at book value | 449,906 | 449,906 |
+------------------------------+------------+------------+
| Share premium | 226,056 | 226,056 |
+------------------------------+------------+------------+
| Statutory reserve capital | 287,542 | 287,542 |
+------------------------------+------------+------------+
| Retained earnings | 815,085 | 891,270 |
+------------------------------+------------+------------+
| Total equity | 1,778,590 | 1,854,774 |
+------------------------------+------------+------------+
| TOTAL LIABILITIES AND EQUITY | 1,824,030 | 1,873,680 |
+------------------------------+------------+------------+

Condensed statement of comprehensive income

+------------------------------------------------+----------+----------+
| EUR | 9 M 2025 | 9 M 2024 |
+------------------------------------------------+----------+----------+
| Revenue | 0 | 31,920 |
+------------------------------------------------+----------+----------+
| Costs of goods sold | 0 | -912 |
+------------------------------------------------+----------+----------+
| Gross profit | 0 | 31,008 |
+------------------------------------------------+----------+----------+
| Administrative and general expenses | -83,302 | -26,846 |
+------------------------------------------------+----------+----------+
| Other operating income | 0 | 5,000 |
+------------------------------------------------+----------+----------+
| Operating profit/loss | -83,302 | 9,162 |
+------------------------------------------------+----------+----------+
| Financial income | 7,117 | 3,819 |
+------------------------------------------------+----------+----------+
| NET PROFIT/LOSS FOR THE PERIOD | -76,185 | 12,981 |
+------------------------------------------------+----------+----------+
| TOTAL COMPREHENSIVE PROFIT/LOSS FOR THE PERIOD | -76,185 | 12,981 |
+------------------------------------------------+----------+----------+

Rando Tomingas

Member of the Management Board

Telephone: +372 667 9200

E-mail: [email protected]
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