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HAMBORNER REIT AG: Business performance remains stable in first quarter of 2021

DGAP-News: HAMBORNER REIT AG / Key word(s): Quarter Results/Acquisition HAMBORNER REIT AG: Business performance remains stable in first quarter of 2021 27.04.2021 / 07:00 The issuer is solely responsible for the content of this announcement. PRESS RELEASE

HAMBORNER REIT AG: Business performance remains stable in first quarter of 2021

- Rental income on previous year's level at €21.8 million

- FFO declines to €12.7 million (down 4.6%) due to pandemic

- Net asset value (NAV) per share of €11.26 (up 1.9%)

- Successful progress in portfolio expansion and optimisation

- Strong letting performance and consistently extremely low vacancy rate

KEY FIGURES FOR THE FIRST QUARTER OF 2021

Duisburg, 27 April 2021 - HAMBORNER REIT AG has continued the positive business performance of the previous year and enjoyed a stable revenue development in the first quarter. Income from rents and leases reached the level of previous year's first quarter and amounted to €21.8 million. Funds from operations (FFO) decreased by around €0.6 million or 4.6% to €12.7 million in the first three months. The decline is essentially related to adjustments on rent receivables in connection with possible defaults due to COVID-19 and retroactive debt waivers for tenants hit especially hard by the pandemic. Furthermore, the result is affected by an increase in personnel expenses. Despite this, the company's financial and liquidity situation remains very comfortable. The REIT equity ratio was 55.6% as at 31 March 2021 and the loan-to-value (LTV) ratio 44.0%.

PORTFOLIO DEVELOPMENT

Six further High-Street retail properties that were sold in the second half of 2020 were transferred to their respective buyers during the first quarter of 2021.

Ownership of the property acquired in Mainz was transferred at the end of March 2021. The gross initial yield of the investment is 7.0%. Currently fully let for a period of around three years, the office property has substantial value potential that will be realised as part of the "manage to core" approach, on the basis of a comprehensive modernisation and re-letting concept as well as in line with HAMBORNER's ESG strategy.