Portfolio Valuation

The Fund’s portfolio is geographically diversified across 50 markets in 12 European countries. The following charts show the total portfolio’s geographical distribution based on the market value of 779 properties owned by the Fund as at 30 September 2022, in terms of allocations by country and region.

Net Property Value by Country (€ million)	Geographic Distribution by Net Value

Second Quarter Results

Total portfolio is 98.0%. Total leasing activity covered over 537,000 SQM.

Occupancy by Region

Expiries/Next Lease Breaks – Annualised Ending Base Rent (AEBR)

The Fund has a diversified customer base, which consists of 1044 leases.

• No one customer comprises more than 4.4% of the total annualised ending base rent.
• In total, the top 10 customers account for only 20.2% of the total annualised ending base rent of the Fund.

The following table lists the top 10 customers and their share of the total annualised ending base rent of the Fund.