EUROLOG CANOLA SOCIMI, S.A.

Calle Nanclares de Oca 1 - B, 28022 Madrid (Spain)

https://www.eurologcanola.com/

Madrid, 18 July 2022

Pursuant to Article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation), and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC, and Article 61004/2 of Euronext Rule Book I, EUROLOG CANOLA SOCIMI S.A. (the "Company") hereby notifies the following

PRESS RELEASE

The company Coally Investments, S.L.U., (hereinafter "Coally"), wholy owned by EuroLog Canola SOCIMI, S.A.U., is a Spanish liability company incorporated on November 27, 2020.

A. As previously announced in the press released issued on 23 December 2021:

On April 8, 2021, Coally entered into a forward purchase agreement ("FPA") with Murillo Illescas Desarrollos y Promociones Logísticas, S.L. (the "Seller") to forward purchase of 2 new logistics platforms in Illescas (Toledo province) for a purchase price set forth at €56,095,665 plus VAT according to the public deed. Conditions for completion of the acquisition shall be met before January 31, 2022.

According to the FPA, after construction and putting into operation by the Seller of the logistics platform, among other conditions precedent to be met, the logistics platform will be transferred by the Seller and acquired by Coally by virtue of the execution of the corresponding deed and purchase agreement, which will include market practice representation and warranties for this kind of transactions.

The fulfilment of the commitment to purchase the logistics platforms by Coally and the payment are guaranteed by virtue of (i) a notarial deposit in an amount equal to 5% of the price formalized on April 8, 2021, and (ii) a notarial deposit for an amount equivalent to 20% of the price, to be formalized on the date on which the seller acquires freehold title over the plots where the logistics platform will be built.

On December 22, 2021, Coally and the Seller entered into an addendum to the FPA (the "FPA Addendum") by virtue of which amongst others, the Parties agreed to (i) amend the purchase price of the logistics platforms; and (ii) extend timing for completion of the condition subsequent ("condición resolutoria") to which the FPA was submitted.

  1. Purchase price: the Parties have agreed to increase the purchase price in an amount equivalent to 2.96% for the purposes of assuming on a 50% basis an increase in the construction project costs. As a consequence, new acquisition

price will be €57.756.709 plus VAT. Purchase price will be paid by Coally to the Seller on the date the acquisition deed is granted. It is estimated in Q4 2023.

    1. Timing for completion of the condition subsequent ("condición resolutoria"): The Parties have agreed to extend until 30 April 2022 (instead of 31 January 2022) the maximum term in which the condition subsequent to which the FPA was submitted shall be fulfilled. Condition subsequent jointly consists on the acquisition by the Seller of freehold title over the plots where the logistics platform will be built and the registration with the Land Registry of said acquisition in favor the Seller.
    2. Notarial deposits: (i) A notarial deposit in an amount equal to 5% of the former price (i.e. €56,095,665) was formalized on 8 April 2021 upon the signing of the FPA. (ii) Terms and conditions of the remaining notarial deposit equivalent to 20% of the price foreseen in the FPA will remain unchanged. In this sense, a notarial deposit for an amount equivalent to 20% of the former price (and not 20% over the new price agreed under the FPA Addendum) will be formalized on the date on which the Seller acquires freehold title over the plots where the logistics platform will be built.
  2. Further material amendments to the FPA have been agreed after the submission of the press released issued on 23 December 2021; which are the following:

FPA Addendum II: on May 13, 2022, Coally and the Seller entered into a second addendum to the FPA (the "FPA Addendum II") by virtue of which amongst others, the Parties agreed to (i) amend again the purchase price of the logistics platforms; and (ii) furtherly extending timing for completion of the condition subsequent ("condición resolutoria") to which the FPA was submitted; as follows:

  1. New purchase price:The Parties agreed a new purchase price of €61,244,821 plus VAT due to an increase in the construction project costs.
  2. Timing for completion of the condition subsequent ("condición resolutoria"): The Parties have agreed to extend until 30 July 2022 (instead of 30 April 2022) the maximum term in which the condition subsequent to which the FPA was submitted shall be fulfilled.
  3. Notarial deposits. Notarial deposit equivalent to 20% will be over the initial price (i.e. over €56,095,665) and not over the new price (i.e. 61,244,821). The conditions for the formalization of the deposit have been fulfilled and it is expected to be formalized on July.

Sincerely,

EUROLOG CANOLA SOCIMI S.A.

Dña. Rita Torres López

Director

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Eurolog Canola Socimi SA published this content on 18 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 July 2022 11:33:03 UTC.