Stable Operating result at Shopper Park Plus

The SPP Group's after-tax profit for the first half of 2025 was EUR 15.1 million. In addition to the stable operating results of the Hungarian and Czech properties, the revaluation gain of EUR 8.9 million on the Slovakian properties added to the portfolio, contributed significantly to the profit.

Effective July 1, 2025, Shopper Park Plus Plc. through a real estate sale and purchase agreement transferred all ownership rights to its properties, and its contractual position as a borrower under the related loan agreement to Shopper Retail Park Ltd., a regulated real estate investment company wholly owned by Shopper Park Plus Plc. With this transformation, the real estate properties in the group's portfolio are now owned directly by the subsidiaries of Shopper Park Plus Plc. Shopper Park Plus Plc. does not directly own any real estate and has no plans to do so in the future, so the Issuer has no direct bank obligations or collateral, which allows it to quickly and flexibly carry out capital or bond market transactions, as well as international or domestic real estate market transactions, without the need for bank approval.

The bank loan financing for properties in Hungary and the Czech Republic was extended on July 1. 2025 until June 30, 2030, and the credit line has been increased to EUR 154.8 million, which Shopper Retail Park Ltd. drew down in full in July 2025. A significant change in the loan terms is that instead of the previous 15-year amortization period, only 1% of the loan amount is repayable annually, compared to the 4% repayment rate in the past year, which provides significant additional free cash flow to the SPP Group, thus leaving more resources available during the term of the loan for dividend payments, among other things. This type of loan is very similar to the so-called “interest only” loan structure preferred by the SPP Group, which, combined with an approximate LTV of 50%, provides a strong basis for the SPP Group's goal of continuous, predictable dividend payments.

The SPP Group is seeking further financing opportunities to continue its corporate development. Depending on market conditions, it is considering a possible cash capital increase to support its planned expansion in the Central and Eastern European region, in line with the Company's previously announced strategy.

Of the 30,000 m2 of leasable area covered by the option to redeem part of Tesco's leasable area in Hungary, 22,000 m2 have been leased until June 30, 2025. The applications for change of use of the areas covered by the option have already been accepted by the competent authority in seven locations, and planning and preparation are ongoing in one location. The leasing of the sites taken over with the call option involves additional significant expenses due to the development costs, which will be implemented by the SPP Group in a phased manner.