EUROCASTLE INVESTMENT LIMITED
FOR IMMEDIATE RELEASE
Contact:
Oak Fund Services (Guernsey) Limited
Company Administrator
Attn: Nicole Barnes
Tel: +44 1481 723450
Eurocastle Announces Release of all Remaining Reserves
Guernsey, 7 October 2025 - Eurocastle Investment Limitedannounces that it has entered into a contractual arrangement in respect of the Legacy German tax matter (the "Arrangement") at a total estimated cost of €0.85 million. The Directors have therefore released the full €6.0 million of reserves related to the matter. As a result, the Company no longer holds any additional reserves and going forward will report a single IFRS-based NAV.
As of June 30, 2025 Eurocastle's pro forma NAV adjusted for the cost of the Arrangement, amounts to €20.4 million, or €20.34 per share.
The table below summarises the Company's net assets as of June 30, 2025 pro forma for the Arrangement and release of all reserves.
| Q2 2025 NAV | Pro Forma Movements1 | Q2 2025 Pro Forma NAV | |||||||||
| €'m | € p.s. | €'m | € p.s. | €'m | € p.s. | ||||||
| New Investment Strategy - EPIF | 1.84 | 1.84 | - | - | 1.84 | 1.84 | |||||
Legacy Italian Real Estate Funds | 0.06 | 0.06 | - | - | 0.06 | 0.06 | |||||
| Net Corporate Cash2 | 15.27 | 15.25 | (0.85) | (0.85) | 14.42 | 14.40 | |||||
| Legacy German Tax Asset | 4.05 | 4.04 | - | - | 4.05 | 4.04 | |||||
| IFRS NAV | 21.22 | 21.19 | (0.85) | (0.85) | 20.37 | 20.34 | |||||
| Legacy German Tax Reserve | (6.01) | (6.00) | 6.01 | 6.00 | - | - | |||||
| Adjusted NAV | 15.21 | 15.19 | 5.16 | 5.15 | 20.37 | 20.34 | |||||
| Ordinary shares outstanding | 1,001,555 | 1,001,555 | |||||||||
ABOUT EUROCASTLE
Eurocastle Investment Limited.
FORWARD LOOKING STATEMENTS
This release contains statements that constitute forward-looking statements. Such forward-looking statements may relate to, among other things, future commitments to sell real estate and achievement of disposal targets, availability of investment and divestment opportunities, timing or certainty of completion of acquisitions and disposals, the operating performance of our investments and financing needs. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may", "will", "should", "potential", "intend", "expect", "endeavour", "seek", "anticipate", "estimate", "overestimate", "underestimate", "believe", "could", "project", "predict", "project", "continue", "plan", "forecast" or other similar words or expressions. Forward-looking statements are based on certain assumptions, discuss future expectations, describe future plans and strategies, contain projections of results of operations or of financial condition or state other forward-looking information. The Company's ability to predict results or the actual effect of future plans or strategies is limited. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, its actual results and performance may differ materially from those set forth in the forward-looking statements. These forward-looking statements are subject to risks, uncertainties and other factors that may cause the Company's actual results in future periods to differ materially from forecasted results or stated expectations including the risks regarding Eurocastle's ability to declare dividends or achieve its targets regarding asset disposals or asset performance.
1 Adjustments to reflect the release of the Legacy German Tax Reserve net of the cost of the Policy.
2 Reflects corporate cash net of accrued liabilities and other assets.
