Unaudited financial report for the first quarter of 2021

Trigon Property DevelopmentThe main business activity of Trigon Property Development AS is real estate development. As at 31.03.2021, AS Trigon Property Development owned one development project with an area of 18 hectares in the City of Pärnu, Estonia. An industrial and logistics park is planned to be developed on this area. The Company’s objective is to find companies willing to bring their business activities (industry, logistics) to the development project area of AS Trigon Property Development in Pärnu, which would add value to the land plots owned by the Company.

In the first quarter of 2021 a 3.43-hectare property at the price of 824 040 (VAT not included) euros was sold.

Condensed statement of financial position as of 31 March 2021 delivered by the present announcement completely reflects the assets, liabilities and equity capital of AS Trigon Property Development.

According to the condensed statement of comprehensive income the net profit for first quarter of 2021 of AS Trigon Property Development is 64,668 euros and the earnings per share is 0.01437 EUR.

As of 31 March 2021 the assets of AS Trigon Property Development were 2,558,670 euros. The equity of the company was 2,556,022 euros, corresponding to 99.9 % of the total balance sheet.

Condensed statement of financial position

EUR 31.03.2021 31.12.2020
Cash 940,352 146,890
Receivables and prepayments 4,138 789
Total current assets 944,670 147,679
Investment property 1,614,000 2,350,000
Total non-current assets 1,614,000 2,350,000
TOTAL ASSETS 2,558,670 2,497,679
Payables and prepayments 2,648 6,325
Total current liabilities 2,648 6,325
Total liabilities 2,648 6,325
Share capital at book value 2,299,020 2,299,020
Share premium 226,056 226,056
Statutory reserve capital 287,542 287,542
Accumulated loss -256,596 -321,264
Total equity 2,556,022 2,491,354
TOTAL LIABILITIES AND EQUITY 2,558,670 2,497,679

Condensed statement of comprehensive income

EUR I Q 2021 I Q 2020
Gain on sales of investment property 88,040 0
Expenses related to investment property -1,983 -4,260
Gross profit /loss 86,057 -4,260
Administrative and general expenses -21,408 -3,220
Operating profit /loss 64,649 -7,480
Net financial income 19 4
NET PROFIT /LOSS FOR THE PERIOD 64,668 -7,476
TOTAL COMPREHENSIVE PROFIT /LOSS 64,668 -7,476
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