Barcino Property SOCIMI S A : 2023

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Barcelona, 27 October 2023

In accordance with the provisions of article 17 of Regulation (EU) No. 596/2014 on market abuse and article 227 of the consolidated text of the Securities Market Law, approved by Royal Legislative Decree 4/2015, of 23 October, and related provisions, as well as Circular 3/2020 of the BME Growth de BME MTF Equity segment, Barcino Property SOCIMI, S.A. (hereinafter, the "Company" or "Barcino") informs of the following:

OTHER RELEVANT INFORMATION

• Limited Review Report corresponding to the Individual Interim Financial statements for the six-month period ending 30 June 2023.
• Individual Interim Financial Statements for the six-month period ending 30 June 2023.
• In relation to the monitoring of the Income and EBITDA forecasts for the year 2023, published on February 21, 2023, it is noted that Barcino as of June 30, 2023 has achieved a rental income of 1.2 million of euros. Moreover, the Company has achieved an EBITDA of 0.6 million euros, motivated especially by the improvement of the conditions of the management contract. Based on the above, the Company expects it will comply with the indicated forecasts. Below is a summary of the degree of compliance with these forecasts as of June 30, 2023:

	H1 2023	2023 E	%
	compliance
GOI (*)	1.2m	2.4-2.6m	49% - 45%
EBITDA	0.6m	1.3-1.4m	47% - 41%

(*) GOI: Gross Operating Income (Ingresos por rentas)

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The above documentation is also available to the market on the Company's website (www.barcinoproperty.com)

In accordance with the provisions of Circular 3/2020, it is stated that the information communicated hereby has been prepared under the exclusive responsibility of the Company and its directors.

Sincerely,

BARCINO PROPERTY SOCIMI, S.A.

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Barcino Property SOCIMI S.A.

Interim financial statements

for the six-month period ended

30 June 2023

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BARCINO PROPERTY SOCIMI, S.A.

INTERIM BALANCE SHEET AT 30 JUNE 2023

(in euros)

ASSETS		Note	30/06/2023	31/12/2022
1 A) NON-CURRENT ASSETS		39.115.188,27	37.308.221,81
1.1	I. Intangible fixed assets	Nota 4	2.159,47	2.181,78
	1.1.3 3.Patents, licences, trademarks and similar items		562,49	584,80
	1.1.3 5. Computer software		1.596,98	1.596,98
1.2	II. Property, plant and equipment	Nota 4	755,35	885,08
	1.2.2 2. Property, plant and equipment		755,35	885,08
1.3	III. Investment property	Nota 4	39.035.647,60	37.223.954,10
	1.3.1 1. Land		22.219.012,09	22.219.012,09
	1.3.2 2.	Buildings		11.589.598,46	11.786.661,32
	1.3.3 3.	Property, plant and equipment in the course of construction and advances		5.227.037,05	3.218.280,69
1.5	IV. Non-current financial assets	Nota 7	76.625,85	81.200,85
	1.5.5 5.	Other financial assets		76.625,85	81.200,85

2 B) CURRENT ASSETS		1.855.336,29	1.726.811,58
2.3	III. Trade and other receivables	Nota 8	248.647,56	352.924,51
	2.3.1 1. Trade receivables for sales and services		14.153,27	27.870,40
	2.3.3 3. Sundry receivables		27.308,10	117.868,73
	2.3.5 5.	Current tax assets	Nota 11	207.185,38	0,00
	2.3.6 6.	Other accounts receivable from public authorities	Nota 11	0,81	207.185,38
2.5	V. Non-current financial assets	Nota 7	366.081,60	498.016,60
	2.5.5 5.	Other financial assets		366.081,60	498.016,60
2.6	VI. Current prepayments and accrued income		16.090,74	22.339,88
2.7	VII. Cash and cash equivalents		1.224.516,39	853.530,59
	2.7.1 1.	Cash		1.224.516,39	853.530,59
		TOTAL ASSETS		40.970.524,56	39.035.033,39

EQUITY AND LIABILITIES	Note	30/06/2023	31/12/2022
1 A) EQUITY		23.549.909,61	23.616.539,93
1.1 A-1) Shareholders' equity	Nota 8	23.549.909,61	23.616.539,93
1.1.1 I. Share capital		24.524.110,00	24.524.110,00
1.1.1.1. Registered capital		24.524.110,00	24.524.110,00
1.1.2 II. Share premium		6.347.632,78	6.347.632,78
1.1.3 III. Reserves		85.479,32	85.479,32
1.1.3.2 1. Legal reserve		78.265,95	78.265,95
1.1.3.2 2. Other reserves		7.213,37	7.213,37
1.1.4 IV. Treasury shares		(82.473,66)	(82.473,66)
1.1. 5 V. Profit/(loss) from previous years		(7.258.210,09)	(6.352.719,28)
1.1.5.2 2. Prior years' losses		(7.258.210,09)	(6.352.719,28)
1.1.6 VI. Other capital contributions		1,58	1,58
1.1.7 VII. Loss for the year		(66.630,32)	(905.490,81)
2 B) NON-CURRENT LIABILITIES		14.839.352,15	13.114.131,35
2.2 II. Non-current payables		14.839.352,15	13.114.131,35
2.2.2 2. Bank borrowings	Notes 9 and 10	13.759.589,91	12.745.490,81
2.2.5 5. Other financial liabilities	Notes 9 and 10	1.079.762,24	368.640,54
3 C) CURRENT LIABILITIES		2.581.262,80	2.304.362,11
3.3 III. Current payables		1.683.911,51	1.795.998,08
3.3.2 2. Bank borrowings	Notes 9 and 10	1.273.794,06	1.362.771,08
3.3.5 5. Other financial liabilities	Notes 9 and 10	410.117,45	433.227,00
3.5 V. Trade and other payables		895.239,29	508.364,03
3.5.3 3. Sundry accounts payable	Notes 9 and 10	836.997,97	467.823,21
3.5.6 6. Other accounts payable to public authorities	Nota 11	35.271,15	20.750,33
3.5.7 7. Customer advances	Notes 9 and 10	22.970,17	19.790,49
3.6 VI. Current prepayments and accrued income		2.112,00	0,00
TOTAL EQUITY AND LIABILITIES		40.970.524,56	39.035.033,39

The accompanying Notes 1 to 16 are an integral part of the interim balance sheet at 30 June 2023.

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BARCINO PROPERTY SOCIMI, S.A.
INTERIM STATEMENT OF PROFIT OR LOSS FOR THE SIX-MONTH PERIOD ENDED
30 JUNE 2023
(in euros)
STATEMENT OF PROFIT OR LOSS	Note	30/06/2023	30/06/2022
1. Revenue		1,183,730.27	915,970.95
Real estate leases	Nota 12.1	1,183,730.27	915,970.95
5. Other operating income		6,629.91	12,917.58
a) Other operating income		6,629.91	12,917.58
6. Staff costs		(76,771.12)	(76,146.96)
a) Wages, salaries and similar expenses		(60,529.76)	(60,379.98)
b) Employee benefit costs	Nota 12.2	(16,241.36)	(15,766.98)
7. Other operating expenses	Nota 12.3	(521,949.85)	(812,732.75)
a) Outside services		(479,901.20)	(765,038.72)
b) Taxes		(35,522.98)	(34,950.71)
c) Losses, impairment and changes in trade provisions		(6,521.67)	(5,879.38)
d) Other current operating expenses		(4.00)	(6,863.94)
8. Depreciation and amortisation charge	Nota 4	(323,426.47)	(320,259.35)
12. Other income and expenses		(2,211.75)	0.00
PROFIT/(LOSS) FROM OPERATIONS		266,000.99	(280,250.53)
13. Finance income		4.15	5.67
From marketable securities and other financial instruments		4.15	5.67
From third parties		4.15	5.67
14. Finance costs		(332,635.46)	(149,888.95)
On debts with third parties		(332,635.46)	(149,888.95)

FINANCIAL LOSS
LOSS BEFORE TAX
Income tax	Nota 11
LOSS FROM CONTINUING OPERATIONS
LOSS FOR THE YEAR

(332,631.31)	(149,883.28)
(66,630.32)	(430,133.81)
0.00	0.00
(66,630.32)	(430,133.81)
(66,630.32)	(430,133.81)

The accompanying Notes 1 to 16 are an integral part of the interim statement of profit or loss for the six-month period ended 30 June 2023.

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BARCINO PROPERTY SOCIMI, S.A.

INTERIM STATEMENT OF CHANGES IN EQUITY

1. STATEMENT OF RECOGNISED INCOME AND EXPENSE FOR THE SIX-MONTH PERIOD ENDED 30 JUNE 2023
   (in euros)

	30/06/2023	30/06/2022
LOSS AS PER STATEMENT OF PROFIT OR LOSS (I)	(66,630.32)	(430,133.81)
TOTAL INCOME AND EXPENSE RECOGNISED DIRECTLY IN EQUITY (II)	0	0
TOTAL TRANSFERS TO STATEMENT OF PROFIT OR LOSS (III)	0	0
TOTAL RECOGNISED INCOME AND EXPENSE (I+II+III)	(66,630.32)	(430,133.81)
The accompanying Notes 1 to 16 are an integral part of the statement of recognised income and expense for the six-month period ended 30 June 2023.

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BARCINO PROPERTY SOCIMI, S.A.

INTERIM STATEMENT OF CHANGES IN EQUITY

1. STATEMENT OF CHANGES IN TOTAL EQUITY FOR THE SIX-MONTH PERIOD
   (in euros)

ENDED 30 JUNE 2023

Profit/(loss)

A. BALANCE AT 31 DECEMBER 2021 Total recognised income and expense Distribution of 2021 profit Share capital increase Treasury share transactions B. BALANCE AT 30 JUNE 2022 Total recognised income and expense Share capital increase Treasury share transactions C. BALANCE AT 31 DECEMBER 2022 Total recognised income and expense Distribution of 2022 profit Share capital increase Treasury share transactions D. BALANCE AT 30 JUNE 2023

Registered capital

24,524,110.00 - - - - 24,524,110.00 - - - 24,524,110.00 - - - - 24,524,110.00

Share premium

6,347,632.78 - - - - 6,347,632.78 - - - 6,347,632.78 - - - - 6,347,632.78

Legal reserve

- - 78,265.95 - - 78,265.95 - - - 78,265.95 - - - - 78,265.95

Other reserves

7,213.37 - - - - 7,213.37 - - - 7,213.37 - - - - 7,213.37

(Treasury shares)

(82,473.66) - - - - (82,473.66) - - - (82,473.66) - - - - (82,473.66)

from previous	Other capital
contributions
years
(7,057,112.84)	1.58
-	-
704,393.56	-
-	-
-	-
(6,352,719.28)	1.58
-	-
-	-
-	-
(6,352,719.28)	1.58
-	-
(905,490.81)	-
-	-
-	-
(7,258,210.09)	1.58

The accompanying Notes 1 to 16 are an integral part of the statement of changes in total equity for the six-month period ended 30 June 2023.

Profit/(loss) for the year

782,659.51 (430,133.81) (782,659.51) - - (430,133.81) (475,357.00) - - (905,490.81) (66,630.32) 905,490.81 - - (66,630.32)

TOTAL

24,522,030.74 (430,133.81) 0.00 0.00 0.00 24,091,896.93 (475,357.00) 0.00 0.00 23,616,539.93 (66,630.32) 0.00 0.00 0.00 23,549,909.61

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BARCINO PROPERTY SOCIMI, S.A.

INTERIM STATEMENT OF CHANGES IN EQUITY

1. STATEMENT OF CHANGES IN TOTAL EQUITY FOR THE SIX-MONTH PERIOD
   (in euros)

ENDED 30 JUNE 2023

Profit/(loss)

A. BALANCE AT 31 DECEMBER 2021 Total recognised income and expense Distribution of 2021 profit Share capital increase Treasury share transactions B. BALANCE AT 30 JUNE 2022 Total recognised income and expense Share capital increase Treasury share transactions C. BALANCE AT 31 DECEMBER 2022 Total recognised income and expense Distribution of 2022 profit Share capital increase Treasury share transactions D. BALANCE AT 30 JUNE 2023

Registered capital

24,524,110.00 - - - - 24,524,110.00 - - - 24,524,110.00 - - - - 24,524,110.00

Share premium

6,347,632.78 - - - - 6,347,632.78 - - - 6,347,632.78 - - - - 6,347,632.78

Legal reserve

- - 78,265.95 - - 78,265.95 - - - 78,265.95 - - - - 78,265.95

Other reserves

7,213.37 - - - - 7,213.37 - - - 7,213.37 - - - - 7,213.37

(Treasury shares)

(82,473.66) - - - - (82,473.66) - - - (82,473.66) - - - - (82,473.66)

from previous	Other capital
contributions
years
(7,057,112.84)	1.58
-	-
704,393.56	-
-	-
-	-
(6,352,719.28)	1.58
-	-
-	-
-	-
(6,352,719.28)	1.58
-	-
(905,490.81)	-
-	-
-	-
(7,258,210.09)	1.58

The accompanying Notes 1 to 16 are an integral part of the statement of recognised income and expense for the six-month period ended 30 June 2023.

Profit/(loss) for the year

782,659.51 (430,133.81) (782,659.51) - - (430,133.81) (475,357.00) - - (905,490.81) (66,630.32) 905,490.81 - - (66,630.32)

TOTAL

24,522,030.74 (430,133.81) 0.00 0.00 0.00 24,091,896.93 (475,357.00) 0.00 0.00 23,616,539.93 (66,630.32) 0.00 0.00 0.00 23,549,909.61

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BARCINO PROPERTY SOCIMI, S.A.

INTERIM STATEMENT OF CASH FLOWS FOR THE

SIX-MONTH PERIOD ENDED 30 JUNE 2023

(in euros)

				Note	30/06/2023	30/06/2022
		A) Other cash flows from operating activities
		1. Loss for the year before tax		(66,630.32)	(430,133.81)
		2. Adjustments to profit/(loss):
		a) Depreciation and amortisation charge	Nota 4	323,426.47	320,259.35
		b) Impairment losses			-
		c) Changes in provisions		-	-
		e) Gains or losses on write-offs and disposal of non-current assets		-	-
		f) Financial instruments or losses on write-offs and disposal of financial instruments		-	-
		g) Finance income		(4.15)	(5.67)
		h) Finance costs		332,635.46	149,888.95
					589,427.46	40,008.82
		3. Changes in working capital
		a) Prepayments receivable		90,560.63	(80,259.44)
		b) Trade and other receivables		16,896.00	4,023.83
		c) Other current assets		8,361.14	11,989.82
		d) Trade and other payables		394,304.35	143,822.65
		f) Other non-current assets and liabilities		(23,562.00)	(13,567)
					486,560.12	66,009.86
		4. Other cash flows from operating activities
		a) Interest paid		(287,070.14)	(129,949.08)
		b) Dividends received		-	-
		c) Interest received		4.15	5.67
		e) Other payments (collections)		-	-
					(287,065.99)	(129,943.41)
		5. Cash flows from operating activities		788,921.59	(23,924.73)
		B) Cash flows from investing activities
		6. Payments for investments
		d) Investment property	Nota 4	(2,134,967.93)	(1,164,186.58)
		e) Other financial assets		(155,772.76)	(147,917.59)
					(2,290,740.69)	(1,312,104.17)
		7. Proceeds from divestments
		d) Investment property		-	-
		e) Other financial assets		292,282.76	69,240.00
		f) Non-current assets held for sale		-	-
		g) Other assets		-	-
					292,282.76	69,240.00
		8. Net cash from investing activities		(1,998,457.93)	(1,242,864.17)
		c) Cash flows from financing activities
		9. Proceeds and payments relating to equity instruments
		a) Proceeds from issue of equity instruments		-	-
					0.00	0.00
		10. Proceeds and payments relating to financial liability instruments
		a) Issue
		1. Debt instruments and other marketable securities		-	-
	2.	Bank borrowings		1,614,509.59	557,726.45
	Notes 9 and 10
		3. Payables to Group companies and associates		-	-
	4.	Other payables		-
		b) Repayment and redemption of		-	-
	2.	Bank borrowings	Notes 9 and 10	(725,968.45)	(558,457.53)
		3. Payables to Group companies and associates		-	-
	4.	Other payables		691,981.00	(262,261.35)
	Notes 9 and 10
					1,580,522.14	(262,992.43)
		11. Dividends and returns on other equity instruments paid
		a) Dividends		-	-
		b) Returns on other equity instruments		-	-
					0.00	0.00
		12. Cash flows from financing activities		1,580,522.14	(262,992.43)
		D) Effect of foreign exchange rate changes		0.00	0.00
		E) Net increase/decrease in cash and cash equivalents		370,985.80	(1,529,781.33)
		Cash and cash equivalents at beginning of year		853,530.59	3,554,635.80
		Cash and cash equivalents at end of year		1,224,516.39	2,024,854.47

The accompanying Notes 1 to 16 are an integral part of the interim statement of cash flows for the six-month period
ended 30 June 2023.	6

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Barcino Property SOCIMI, S.A.

Notes to the interim financial statements for the six-month period ended 30 June 2023

1. Company activities

Barcino Property SOCIMI, S.A. ("the Company") is a Spanish company with tax identification number (C.I.F.) A-66461716, incorporated for an indefinite period of time on 30 January 2015 under the name of Barcino Property, S.L. Its registered office is located at Avenida Diagonal 497, Barcelona.

On 25 May 2017, it was agreed to transform the company from a private limited liability company to a public limited liability company.

On 18 February 2016, the Company's former sole shareholder, Barcino Management, B.V., resolved that the Company would avail itself of the special regime for real estate investment trusts ("REITs") governed by Act 11/2009, of 26 October.

Subsequently, on 19 February 2016, the Company formally notified the Spanish State Tax Agency that it had opted to apply the aforementioned special regime for REITs as from 1 January 2016.

The Company's purpose is as follows:

1. The acquisition and development of urban properties earmarked for lease.
2. The ownership of interests in the share capital of other REITs or other non-resident companies in Spain with a company purpose identical to that of the former, which are subject to a regime similar to that governing REITs in relation to the obligatory profit distribution policy stipulated by law or the bylaws.
3. The ownership of interests in the share capital of other companies, whether residents or non-residents in Spain, the company purpose of which is the acquisition of urban properties earmarked for lease, which are subject to the regime established for REITs in relation to the obligatory profit distribution policy stipulated by law or the bylaws, and which meet the investment requirements referred to in Article 3 of Real Estate Investment Trusts Act 11/2009, of 26 October.
4. The ownership of shares or other equity interests in collective real estate investment undertakings governed by Spanish Collective Investment Undertakings Act 35/2003, of 4 November, or any regulation that may supersede it in the future.

Together with the economic activity relating to the main company purpose, REITs may also engage in other ancillary activities, which as a whole represent less than 20% of the Company's income in each tax period, or such activities as might be considered to be ancillary under the legislation applicable at each given time.

In view of the business activity carried out by the Company, it does not have any environmental liabilities, expenses, assets, provisions or contingencies that might be material with respect to its equity, financial position or results. Therefore, no specific disclosures relating to environmental issues are included in these notes to the interim financial statements.

• Management agreement

On 31 October 2017 the Company signed a management agreement (the "Management Agreement") for an initial six-year term with the company Vistalegre Property Management, S.L. (the "Manager"), which was first novated on 30 December 2019 and subsequently on 1 January 2023, when it was extended until 31 December 2025, and whereby the Manager works for the Company on a non-exclusive basis performing the following functions, among others: (i) proposing investments; (ii) structuring and negotiating the purchase transactions; (iii) managing the properties; and ultimately (iv) selling the properties acquired by the Company.

The fees paid to the Manager are as follows:

1. The management feefor the years 2023 and 2024 will consist of a fixed amount of EUR 100,000 plus VAT that, as of
   2025, will be 0.9% over the net asset value (NAV), i.e. over the market price of the Company's asset portfolio arising from the annual valuation report issued by the third-party expert as per the methodology disclosed in Note 3.1, plus cash and cash equivalents less borrowings. The final amount will be applied the relevant VAT.
   The aforementioned management fee is to be paid quarterly in advance. The amount accrued during the six-month period ended 30 June 2023 totalled EUR 58,715 (EUR 50,000 on account of tax base and EUR 8,715 of non-deductible VAT). In turn, the amount accrued over the six-month period ended 30 June 2022 totalled EUR 400,999.54 (EUR 351,538.14 for tax base and EUR 49,461.40 for non-deductibleVAT). At the closing of the periods ended 30 June 2023 and 2022, the gross asset value was established based on the RICS valuations at 31 December 2022 and 2021, respectively.

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