Baltic Sea Properties : 2022 Halvårsrapport (Q2) BSP

Baltic Sea Properties

Q2 2022

half-year report

Baltic Sea Properties AS

Half-year report | Q2 2022

About us

The company is among the Baltics' leading real estate investors and developers - owning a portfolio of logistics, industrial and retail assets. Per the end of 2nd quarter 2022, the portfolio had generated a total rent income of apx. MEUR 3.2.

In addition to refining the current portfolio Baltic Sea Properties has ambitions to strenghten the portfolio with new cash flow and development projects which will increase shareholder values and the company's dividend capacity.

The property management is conducted through fully-owned subsidiaries by a professional management team with deep knowledge of the Baltic real estate market.

Baltic Sea

Properties

BSP Asset		BSP Holding		BNTP
Management

BSP Logistics

BSP Retail

BSP Industrial

BSP Opportunities

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Baltic Sea Properties AS

Half-year report | Q2 2022

Contents

About us	2
Highlights	6
CEO's comment	8
Key figures	10
Financials	16
Profit & loss statement	17
Balance sheet	18
Financing	19
Earnings & Net Asset Value	20
Market update from Newsec Baltics	22
Property portfolio	24
Clients	25
Presentation of our properties	26
Land bank	35
Contact	36
Our team	37
Euronext Growth Oslo	39
Appendix	40

I) Statement

1. Profit/Loss Statement & Balance sheet (Group)

1. Cash flow statement (Group) IV) Notes

Disclaimer:

This report has been prepared by Baltic Sea Properties AS in good faith and to our best ability with the purpose to give the company's shareholders updated information about the company's operations and status. This document must not be understood as an offer or encouragement to invest in the company. The financial figures presented are unadited and may thus include discrepancies. Baltic Sea Properties AS further makes reservations that errors may have occurred in its calculations of key figures or in the development of the report which may contribute to an inaccurate impression of the company's status and/or operations. The report also includes descriptions and comments which are based on subjective assumptions and considerations, and thus must not be understood as a guarantee of future events or future profits.

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Baltic Sea Properties AS

Half-year report | Q2 2022

Investment strategy

Investing in Baltic Sea Properties gives an investor great exposure to high yielding quality commercial real estate assets in the Baltic region.

We have a clear strategy for sustainable growth, ambitions to achieve economy of scale and believe the attractive yield spread to the Nordics will still enable both high cash yield returns and value growth potential.

Our overall goals and objectives are to:

01 Target an average annual IRR of 12-16 %

02 Target an annual dividend of 1.5-3 % of Net Asset Value (NAV)

03 Adopt leading industry sustainability & ESG principles before Y/E 2023

04 Monitor and investigate strategic M&A opportunities

05 Sustain a growing, high-quality and balanced investment portfolio

06 Continually identify, balance, mitigate and manage risks

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Baltic Sea Properties AS

Half-year report | Q2 2022

Our development approach

01	02	03	04
Client focus	Long-term	Attractive	Quality
		locations	real estate
Our projects are	We believe in long	We own and acquire	We design and build
designed according	term partnership	development land in	our projects with a
to our clients' current	with strong clients	strategic locations	focus on superior
and future needs. We	and are committed	for current and	design, quality
offer our partners	to increasing the	future park and	materials, modern
reliability, flexibility	lifecycle value of our	portfolio expansion.	technology and
and value innovation	assets		sustainability.
- allowing us to grow
together

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