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GTCI RESULTS STILL UNDER THE COVID - 19 IMPACT BUT LEASING ACTIVITY COMES BACK IN BOTH RETAIL AND OFFICE SECTORS GROSS MARGIN FROM RENTAL ACITIVITY ● ● € 27M Q1 2021 FINANCIAL HIGHLIGHTS Gross margin from rental activity at € 27m ( € 30m in Q1 2020 ) , despite € 2.4m impact of COVID - 19 in Q1 2021 ( € 4.5m impact to pre - COVID levels of Q1 2019 ) ● ● PROFIT BEFORE TAX AND FAIR VALUE ADJUSTMENTS € 15M O Operating profit : profit before tax and fair value adjustments at € 15m ( € 13m in Q1 2020 ) O FFO strong at € 14m ( € 18m in Q1 2020 ) , FFO per share at € 0.03 EPRA NAV at € 1,123m as of 31 March 2021 , EPRA NAV per share at € 2.31 ( PLN 10.77 ) Solid financial metrics : € 14M FFO I LTV at 45.5 % ( 45 % as of 31 December 2020 ) WAIR at historical low of 2.3 % ( 2.3 % as of 31 December 2020 ) Strong liquidity position with cash and cash equivalents at € 254m as of 31 March 2021 Q1 2021 PORTFOLIO HIGHLIGHTS Green bonds issued in the amount of € 54m in March 2021 ( 25 % oversubscription ) OFFICE : ACTIVITY STRONGER THAN IN 2020 o Leasing activity focused mostly on prolongations reached close to 40,000 sq m o Occupancy remained strong at 90 % ³ as of 31 March 2021 ( 90 % in December 2020 ) € 212m invested in Q2 2020 into fully leased offices in Budapest with long WAULT and blue chip tenants will contribute € 11.8m p.a. to our in - place rent RETAIL : COVID - 19 STILL VISIBLE IN Q1 2021 RESULTS HOWEVER CURRENTLY 100 % OF SPACE OPERATIONAL o Lockdowns in Poland , Bulgaria and Serbia lead to an impact on gross margin of € 2.4m in Q1 2021 29.9 € 1,123M BREAK DOWN OF OPERATING MARGIN ( BRIDGE ) ( 1.0 ) 3.2 % Gross Sold assets New margin from completions operations Q1 2020 2016 0.8 Q1 2021 RESULTS 2.8 % AVERAGE INTEREST RATE 2017 EPRA NAV 2018 ( 2.4 ) Covid 2.7 % |||||| 2.6 % 2019 Vaci Greens D 0.2 LFL ALIN 2.3 % 27.5 2020 Gross margin from operation Q1 2021 2.3 % Q1 2021 Siemens Evosoft Headquarters