NET ASSET VALUE OF REINET FUND S.C.A., F.I.S. AS AT 31 DECEMBER 2023

Reinet Investments SCA / Key word(s): Quarter Results NET ASSET VALUE OF REINET FUND S.C.A., F.I.S. AS AT 31 DECEMBER 2023 22-Jan-2024 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Reinet Investments S.C.A.’s wholly-owned subsidiary, Reinet Fund S.C.A., F.I.S., has today announced its net asset value as at 31 December 2023 as follows:

 

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Reinet Fund S.C.A., F.I.S. (‘Reinet Fund’)

 

Net asset value per share as at 31 December 2023

 

As at 31 December 2023, the net asset value (‘NAV’) per share of Reinet Fund amounted to € 33.47 (30 September 2023: € 32.79) based on 171.3 million shares in issue.

 

The entire ordinary share capital of Reinet Fund of 171.3 million shares is owned by Reinet Investments S.C.A. In addition, 1 000 management shares in Reinet Fund are held by Reinet Fund Manager S.A.

 

As at 31 December 2023, the NAV amounted to € 5 734 million, an increase of € 118 million from 30 September 2023.

 

The NAV reflects Reinet Fund’s shareholding in Pension Insurance Corporation Group Limited, British American Tobacco p.l.c., its other investments and cash resources, together with other assets and liabilities. Assets and liabilities have been revalued to their estimated fair values as at 31 December 2023. The NAV calculation has not been audited.

 

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The NAV of Reinet Fund is a substantial element of the consolidated balance sheet of Reinet Investments S.C.A. at 31 December 2023. However, the consolidated balance sheet of Reinet Investments S.C.A. will reflect other parent company assets and liabilities, including cash and amounts payable to or receivable from Reinet Fund. As such, the NAV of Reinet Investments S.C.A. differs from that of Reinet Fund.