Unaudited financial report for the second quarter and 6 months of 2021

The main business activity of Trigon Property Development AS is real estate development. As at 30.06.2021, AS Trigon Property Development owned one development project with an area of 16.3 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.

In the second quarter of 2021 a 0.89-hectare property at the price of 205 000 (VAT not included) euros was sold.

Condensed statement of financial position as of 30 June 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 6 months of 2021 of AS Trigon Property Development is 120,676 euros and the earnings per share is 0.02689 EUR.

As of 30 June 2021 the assets of AS Trigon Property Development were 2,652,286 euros. The equity of the company was 2,612,330 euros, corresponding to 98.49 % of the total balance sheet.

Condensed statement of financial position

EUR	30.06.2021	31.12.2020
Cash	1,163,792	146,890
Receivables and prepayments	4,847	789
Total current assets	1,168,639	147,679
Investment property	1,483,647	2,350,000
Total non-current assets	1,483,647	2,350,000
TOTAL ASSETS	2,652,286	2,497,679
Payables and prepayments	39,956	6,325
Total current liabilities	39,956	6,325
Total liabilities	39,956	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	-200,288	-321,264
Total equity	2,612,330	2,491,354
TOTAL LIABILITIES AND EQUITY	2,652,286	2,497,679

Condensed statement of comprehensive income

EUR	6 M 2021	6 M 2020
Gain on sales of investment property	160,540	4,405
Expenses related to investment property	-4,001	-6,335
Gross profit	156,539	1,930
Administrative and general expenses	-35,707	-8,646
Other operating income	100	0
Operating profit /loss	120,932	-16,576
Net financial income	44	7
NET PROFIT /LOSS FOR THE PERIOD	120,976	-10,569
TOTAL COMPREHENSIVE PROFIT /LOSS	120,976	-10,569

Rando Tomingas

Member of the Management Board

+372 667 9200

Attachment

• 2021 II Q interim ENG