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Baltic Horizon Fund / Northern Horizon Capital AS

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15.01.2026 18:28:30

Pealkiri

Baltic Horizon Fond avaldab osaku puhasväärtuse 2025. aasta detsembri seisuga

Teade

Baltic  Horizon Fondi (Fond) osaku puhasväärtus (NAV) 2025. aasta detsembri lõpu
seisuga  kasvas  0,5451 euroni  osaku  kohta  (30. november 2025: 0,5446). Fondi
aasta  lõpu kogu puhasväärtus  on 78,2 miljonit eurot  (30. november 2025: 78,2
eurot).

2025. aasta  detsembris Fondi  konsolideeritud puhas  renditulu oli 1,0 miljonit
eurot   (30.   november   2025: 1,0 miljonit  eurot).  Fond  teenis  2025. aasta
kaheteistkümne kuuga konsolideeritud puhast renditulu 11,7 miljonit eurot.

2025. aasta  detsembri   lõpus  moodustas  Fondi  konsolideeritud  raha  ja raha
ekvivalendid 5,4 miljonit eurot (30. november 2025: 5,7 miljonit eurot), millest
4,0 miljonit   eurot   on   piiratud   kasutamiseks   vastavalt  laenulepingutes
sätestatule. 31. detsember 2025 seisuga Fondi konsolideeritud varade kogumaht on
216,6 miljonit  eurot  (30.  november  2025: 217,2 miljonit  eurot). Fondi osaku
puhasväärtus  põhineb kinnisvarainvesteeringute õiglasel väärtusel summas 208,7
miljonit  eurot, mida  on kinnitanud  sõltumatud hindajad  2025. aasta detsembri
lõpu  seisuga. Riia  Sky objekti  väärtuse osas  püsib risk seoses määramatusega
objekti  ankurrentniku tegevuse jätkuvuse  osas. See võib  mõjutada vara edasist
väärtust järgmistes aruandlusperioodides.

Seisuga   31. detsember   2025 täidab  Fond  kõiki  laenulepingutega  sätestatud
finantskovenante  või on  saanud vajalikud  kokkulepped nende  täitmiseks, välja
arvatud  kolme Läti kinnistuga  seotud laenud. Nimetatud  laenude pikendamine on
planeeritud  2026. aasta esimesse  kvartalisse. On  samuti eeldatav,  et Fond ei
täida   võlakirja   tingimustest   tulenevat   nõuet  säilitada  konsolideeritud
omakapitali  määra  vähemalt  37,5% tasemel.  Omakapitali  määra  täpne  suhtarv
avalikustatakse   koos   auditeerimata   majandustulemustega,   mis  avaldatakse
finantskalendri    järgi    17. veebruaril   2026. Hiljemalt   majandustulemuste
avaldamise  ajaks  teeb  Fondi  juhtkond  otsuse  uute  osakute  pakkumise osas,
tuginedes osakuomanike poolt 2025. aasta detsembris antud mandaadile.

Lisainformatsiooni saamiseks palume ühendust võtta:

Tarmo Karotam
Baltic Horizon Fond, fondijuht
E-mail [email protected]
(https://www.globenewswire.com/Tracker?data=YM-
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www.baltichorizon.com
(https://www.globenewswire.com/Tracker?data=bWceOHqYoD1J6i_TnIPpONIxFnImG0PplrQE
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Baltic Horizon Fond on registreeritud lepinguline avalik kinnine kinnisvarafond,
mida valitseb alternatiivfondivalitseja Baltic Horizon Capital AS.

Avaldamine: GlobeNewswire, Nasdaq Tallinn, www.baltichorizon.com
(https://www.globenewswire.com/Tracker?data=bWceOHqYoD1J6i_TnIPpONIxFnImG0PplrQE
e3nQEVgxLYRNJ9yy0LBVE58jo1G3FpECyTL1jyMWVgZYv2eo_j4lOxhA6-
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Saamaks  börsiteateid  ning  uudiseid  Baltic  Horizon  Fondilt tema projektide,
plaanide    ja    muu   kohta,   registreeruge   aadressil www.baltichorizon.com
(https://www.globenewswire.com/Tracker?data=bWceOHqYoD1J6i_TnIPpONIxFnImG0PplrQE
e3nQEVgf1qSAgDgJcVJngOEGz2W1nrc28v0szkqxonw979srxEpAh1Y6kOoiDhrAqaA2Xl6sEqyW-
qQIlY4bWEVDD3AP).  Samuti on teil võimalik Baltic Horizon Fondi jälgida LinkedIn
(https://www.globenewswire.com/Tracker?data=u4dVfPUGDVxXxv3k7cwi0OQTQLR9MtAdUHQG
MluRVmgqPfBZCjh8SXpZ8Vy35aZCX-
qT6Udp6s0afEKebhWU3jHtMh5jV_BnuLEF1T4ojjqpZOnq5odDrquA6Albwz2P) ja       YouTube
(https://www.globenewswire.com/Tracker?data=0S7yDENCxTo3rz5oQ414dqCPw81T1y537lgJ
ftMKI1YNqBOZxNb5jIhykBNsotmH33RdhHLDdyvXFogvETuj_r3h3aSvCpvDex4qwKbBWpfoAO9X9Jt8
HBsSdEaGDdYq) keskkondades.

Pealkiri

Baltic Horizon Fund publishes its NAV for December 2025

Teade

The  net  asset  value  (NAV)  per  unit  of  the Baltic Horizon Fund (the Fund)
increased  to EUR 0.5451 at  the end of  December 2025 (0.5446 as of 30 November
2025). The  year-end total net asset value of the Fund was EUR 78.2 million (EUR
78.2 million as of 30 November 2025).

In  December 2025, the Fund generated the  consolidated net rental income of EUR
1.0 million  (EUR 1.0 million in November 2025). Over  the twelve months of this
year, the Fund achieved a consolidated net rental income of EUR 11.7 million.

At  the end of December 2025, the  Fund's consolidated cash and cash equivalents
amounted  to EUR  5.4 million (30  November 2025: EUR  5.7 million) of which EUR
4.0 million  is restricted for use specified  under credit agreements. As of 31
December  2025, the total consolidated assets of the Fund were EUR 216.6 million
(30  November  2025: EUR  217.2 million).  This  NAV  reflects  the valuation of
investment  properties in the amount of EUR 208.7 million, which is confirmed by
the  independent valuators as of the end of December 2025. While the uncertainty
regarding  the business continuity of the anchor  tenant of Sky in Riga remains,
the valuation of this property remains with a downside risk.

As  of 31 December 2025, the Fund is meeting all financial covenants established
under  the credit agreements or had obtained appropriate waivers, except for the
three Latvian property loans, which are also to be prolonged during 2026 Q1. The
Fund expects to fall short under the requirement to keep the consolidated equity
ratio  of at  least 37.5% under  the terms  of the  bonds. This  ratio is  to be
reported   together  with  the  preliminary  consolidated  financial  statements
scheduled  for the release on the  17 February 2026. By that time the management
will  also take a decision  regarding the offering of  new units, as mandated by
the unitholders in December 2025.

Additional information:

Tarmo Karotam
Baltic Horizon Fund manager
E-mail [email protected] (mailto:[email protected])
www.baltichorizon.com
(https://www.globenewswire.com/Tracker?data=GSQVye1bgzTst_zGKIpP26VIk1zPIzIgVMWj
ti3i1cf-4E0NoN4fd-0Tfskl1CsTlTHoZAL_uWoEIZ8vsfyPcNQbnnYeu2x_1pKetGZPyYM=)

The Fund is a registered contractual public closed-end real estate fund that is
managed by Alternative Investment Fund Manager license holder Baltic Horizon
Capital AS. Both the Fund and the Management Company are supervised by the
Estonian Financial Supervision Authority.

Distribution: GlobeNewswire, Nasdaq Tallinn, www.baltichorizon.com
(https://www.baltichorizon.com)

To receive Nasdaq announcements and news from Baltic Horizon Fund about its
projects, plans and more, register on www.baltichorizon.com
(https://www.globenewswire.com/Tracker?data=wWoVt_qZm0SMX8svmm8d0XHdRo8TyuTklu2M
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iIVG4YUitv7BaQi2LPw2ATcctCH6mpgq4Grtoro6pUUXWF2VGwVQLjS6Hnkk=). You can also
follow Baltic Horizon Fund on LinkedIn
(https://www.globenewswire.com/Tracker?data=h-uw2S0LMu9JjmEgBG6pocNa2RWhq-
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SfqhJmRAVgSoXO4iR3tonn8GHiDrOzZMTWOqvjoPzXewUM20_4vTLg==) and YouTube
(https://www.globenewswire.com/Tracker?data=bjC31nuDd2ZwTkL7JfNtft8K9BbS-
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==).