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Media Release 3 November 2021 CROMWELL EUROPEAN REIT NOT FOR DISTRIBUTION OR PUBLICATION IN THE UNITED STATES OR IN ANY OTHER JURISDICTION OUTSIDE SINGAPORE Cromwell European REIT Posts Record Portfolio Occupancy and Strong Logistics Results in 3Q 2021 • Record level occupancy at 95.3 % as at 30 September 2021 , up from 94.3 % a year ago ■ ■ Positive rent reversion at 1.2 % ( YTD 2021 reversion of + 4.1 % ) and + 2.8 % NPI YTD 2021 like - for - like growth Exceptional market fundamentals backing the light industrial / logistics sector , validating pivot to the sector 12.83 Euro cents indicative DPU for 9 months YTD 2021 , 2.1 % higher year - on - year on a like - for - like basis1 Fitch Ratings re - affirmed investment grade credit rating ( ' BBB- with stable outlook ' ) 3Q 2021 3Q 2020 Variance YTD 2021 YTD 2020 Variance Gross Revenue ( € 000 ) 50,653 46,092 9.9 % 149,672 139,752 7.1 % Net Property Income ( € 000 ) 33,157 30,593 8.4 % 97,444 88,314 10.3 % Income Available for Distribution to 24,272 22,549 7.6 % 70,431 67,114 4.9 % Unitholders ( € 000 ) - SINGAPORE Cromwell EREIT Management Pte . Ltd. , the manager ( the " Manager " ) of Cromwell European Real Estate Investment Trust ( " Cromwell European REIT ” or “ CEREIT ” ) , today provided a business update on CEREIT's financial and operational performance during the third quarter and the nine months ended 30 September 2021 ( " 3Q 2021 ” and “ YTD 2021 ” , respectively ) . CEREIT posted an 8.4 % year - on - year increase in net property income ( " NPI " ) to € 33.2 million in 3Q 2021 , while YTD 2021 NPI saw a 10.3 % year - on - year increase to € 97.4 million . The lift in NPI was mainly due to the additional income from newly - acquired assets in the UK , the Czech Republic and Slovakia , positive uplift from the continued outperformance of light industrial / logistics properties in France , Germany and Denmark and a € 0.8 - million writeback in bad debt provisions made in the prior corresponding period . On a like - for - like basis ( excluding new acquisitions and disposals ) , YTD 2021 NPI was € 2.4 million or 2.8 % higher year - on - year , with the light industrial / logistics portfolio delivering an even higher + 3.3 % lift . 50 Collyer Quay , # 07-02 OUE Bayfront , Singapore 049321 1 Cromwell EREIT Management Pte . Ltd. | Registration No : 201702701N