EQS-Adhoc

InCity Immobilien AG: ON THE BASIS OF PRELIMINARY FIGURES FOR 2022, INCITY ACHIEVES A CONSOLIDATED NET LOSS OF APPROX. EUR 2.9 M AND A NET LOSS OF APPROX. EUR 1.9 M IN THE SINGLE-ENTITY COMPANY

EQS-Ad-hoc: InCity Immobilien AG / Key word(s): Preliminary Results InCity Immobilien AG: ON THE BASIS OF PRELIMINARY FIGURES FOR 2022, INCITY ACHIEVES A CONSOLIDATED NET LOSS OF APPROX. EUR 2.9 M AND A NET LOSS OF APPROX. EUR 1.9 M IN THE SINGLE-ENTITY COMPANY 28-March-2023 / 16:21 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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Schönefeld, 28 March 2023: In the past fiscal year 2022, InCity Immobilien AG (“InCity AG”) generated a consolidated net loss for the year (according to the German Commercial Code, HGB) of approximately EUR 2.9 m, based on unaudited preliminary figures, thus falling within the earnings forecast, which posited a consolidated net loss for the year between EUR 2.5 m and EUR 3.0 m. By contrast, the net loss for the year (according to HGB) in the company’s single-entity annual financial statements, which amounts to approximately EUR 1.9 m, is considerably below the forecast (between EUR -0.1 m and EUR -0.6 m).

Taking into account mutually offsetting one-off effects, the negative deviation from the forecast at single-entity annual financial statement level mainly results from the fact that, as part of a profit transfer agreement with the subsidiary IC Objekt8 Frankfurt GmbH, InCity AG absorbed a loss amounting to a total of approximately EUR 2.0 m in the past fiscal year. This loss absorption results primarily from the non-liquidity-related extraordinary depreciation of the portfolio property held by IC Objekt8 Frankfurt GmbH located at “Stiftstrasse 18/20” in Frankfurt am Main in the amount of approximately EUR 1.8 m. The depreciation became necessary based on the market valuation of an external third party as of the cut-off date 31 December 2022.

At Group level, this unplanned, extraordinary and non-liquidity-related depreciation on the portfolio property located at “Stiftstrasse 18/202” in Frankfurt am Main was largely compensated for through considerably lower investments than were originally planned in the portfolio properties that would not have been capitalised (EUR +1.0 m to EUR +1.5 m). Further one-off effects, for example a non-liquidity-related risk provision for a completed project participation (EUR -0.4 m), were largely more than offset by operating surpluses in the portfolio companies, as well as by other operating expenses of InCity AG that were lower than forecast.