Unaudited financial report for the second quarter and 6 months of 2023

The main business activity of Trigon Property Development AS is real estate development. As at 30.06.2023, AS Trigon Property Development owned one development project with an area of 12.8 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 first quarter of 2022, a 0.53-hectare property was sold for 213,200 euros (excluding VAT).

In the second quarter of 2022, a 1.0-hectare property was sold for 401,280 euros (excluding VAT).

Condensed statement of financial position as of 30 June 2023 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 6 months of 2023 of AS Trigon Property Development is -17,807 euros and the earnings per share is -0.00396 EUR.

As of 30 June 2023 the assets of AS Trigon Property Development were 1,702,669 euros. The equity of the company was 1,701,971 euros, corresponding to 99.96 % of the total balance sheet.

Condensed statement of financial position

EUR	30.06.2023	31.12.2022
Cash and cash equivalents	143,981	199,196
Trade and other receivables	25,790	19,844
Inventories	1,532,898	1,519,536
Total current assets	1,702,669	1,738,576
TOTAL ASSETS	1,702,669	1,738,576
Trade and other payables	698	18,798
Total current liabilities	698	18,798
Total liabilities	698	18,798
Share capital at book value	449,906	449,906
Share premium	226,056	226,056
Statutory reserve capital	287,542	287,542
Retained earnings	738,467	756,274
Total equity	1,701,971	1,719,778
TOTAL LIABILITIES AND EQUITY	1,702,669	1,738,576

Condensed statement of comprehensive income

EUR	6 M 2023	6 M 2022
Revenue	0	614,480
Costs of goods sold	0	-259,267
Gross profit	0	355,213
Administrative and general expenses	-18,201	-40,735
Operating profit/loss	-18,201	314,478
Financial income	394	45
PROFIT/LOSS FOR THE PERIOD	-17,807	314,522
Income tax expense	0	-134,580
TOTAL COMPREHENSIVE PROFIT/LOSS	-17,807	179,942