BriQ Properties Real Estate Investment : Investment Statement 31.12.2021

BRIQ PROPERTIES REAL ESTATE INVESTMENT COMPANY

HCMC APPOVAL NO: 3/757/31.05.2016

REGISTERED OFFICE: 25 ALEXANDROU PANTOU, GR 17671, KALLITHEA

STATEMENT OF INVESTMENTS 31.12.2021

		PROPERTY DESCRIPTION					PROPERTY VALUES
												TENANT	OTHER INFORMATION
										FAIR VALUE	% OF TOTAL
Α/Α	DESCRIPTION		LOCATION AND ADDRESS		SURFACE AREA in SQ.M.	ACQUISITION COST	TAX VALUE	INVESTMENTS
		31.12.2021
										31.12.2021
		Address		Municipality	District	Land	Building
1	Office Building	2A, Argyroupoleos Street		Kallithea	Attica	920,12	3.915,33	3.860.000,00	2.443.418,19	4.395.000,00	3,54%	TEAM CANDI Μ.Α.Ε.
												INFO QUEST TECHNOLOGIES Μ.A.E.B.E.
												QUESTONLINE Μ.A.E.
												VANTAGE TOWERS M.A.E.	Part of the property's roof is leased to VANTAGE TOWERS M.A.E. for the
												installation of mobile antennas.
												QUEST HOLDINGS A.E.
												QUEST ΕΝΕΡΓΕΙΑΚΗ Μ.Α.Ε.Β.Ε.
2	Office Building with underground parking spaces	19-23, Al. Pantou Street		Kallithea	Attica	1.137,28	6.806,03	4.970.000,00	2.097.968,93	6.324.000,00	5,09%	UΝISYSTEMS S.M.S.A.
													Part of the first floor of the property (107,80 sq.m.) is occupied by the
3	Office Building with underground parking spaces	25, Al. Pantou Street		Kallithea	Attica	1.160,98	6.637,42	5.801.797,00	2.102.482,60	6.582.000,00	5,30%	UΝISYSTEMS S.M.S.A.	Company as its registered office. The market value of the owner-occupied
	property as at 31.12.2021 amounts to 205.000,00 € and the net book value as
													at 31.12.2021 amounts tο 144.095,00 €.
												ISQUARE S.M.S.A.
												IQbility SOLE SHAREHOLDER CO. LTD
												QUEST HOLDINGS S.A.
												VANTAGE TOWERS M.A.E.	Part of the property's roof is leased to VANTAGE TOWERS M.A.E. for the
												installation of mobile antennas.
												VODAFONE GREECE TOWERS S.A.	Part of the property's roof is leased to VODAFONE GREECE TOWERS S.A. for the
												installation of mobile antennas.
												Plaza Hotel Skiathos S.M.S.A.
												SARMED WAREHOUSES S.A.
4	Office Building with underground parking spaces	27, Al. Pantou Street		Kallithea	Attica	233,84	1.358,97	1.385.000,00	579.498,60	1.484.000,00	1,20%	ISQUARE S.M.S.A.
												UΝISYSTEMS S.M.S.A.
5	Warehouse Building (logistics)	119, Kifissou Avenue		Nikaia- Ag.I.Rentis	Attica	4.644,06	6.113,54	3.143.709,30	1.964.524,68	3.403.000,00	2,74%	ISQUARE S.M.S.A.
												ISTORM S.M.S.A.
												QUEST ENERGY S.M.S.A.
												QUESTONLINE S.M.S.A.
												INFO QUEST TECHNOLOGIES S.M.S.A.
												UΝISYSTEMS S.M.S.A.
												VANTAGE TOWERS M.A.E.	Part of the property's roof is leased to VANTAGE TOWERS M.A.E. for the
												installation of mobile antennas.
6	Warehouse Building (logistics)	125-127, Kifissou Avenue		Nikaia- Ag.I.Rentis	Attica	5.773,03	7.956,66	4.050.000,00	4.030.811,26	4.665.000,00	3,76%	INFO QUEST TECHNOLOGIES S.M.S.A.
												QUEST ENERGY S.M.S.A.	Part of the property's roof is leased to QUEST ENERGY for the installation of
												solar panels
7	Warehouse Building (logistics)	65, Loutrou Street		Acharnes	Attica	9.683,15	3.988,73	1.658.950,00	1.544.290,40	2.191.000,00	1,76%	PHARMASERVE-LILLYS.A.C.I.
													Until October 31, 2021, part of the property was leased to PRISMA
8	Office building with retail store on the ground floor	42, Posidonos Avenue		Kallithea	Attica	567,49	1.907,47	1.231.361,12	2.109.871,32	1.906.000,00	1,53%		ELECTRONICS S.A.. The property as at 31/12/2021 wasn't leased due to
		renovation and energy energy efficiency improvements are being carried out
													on it.
9	Special use building (Elderly Hosting Center)	18, Filellinon Street		Chalandri	Attica	961,37	1.788,42	1.043.353,16	1.902.559,28	1.445.000,00	1,16%	KARAMANLI ANASTASIA
10	Properties in office building with parking spaces	1, Alamanas Street		Marousi	Attica	389,68	874,14	1.436.830,33	1.136.197,60	1.989.000,00	1,60%	BANK INFORMATION SYSTEMS S.A.
11	Hotel	Ag.Georgios - Naousa		Paros	Cyclades	4.468,27	3.391,73	3.565.819,09	4.071.046,05	4.300.000,00	3,46%	HOTEL BRAIN S.A.
12	Hotel	4, I.Gennadiou & Ipsilantou Street		Athens	Attica	224,34	1.629,30	4.891.004,50	3.110.859,28	5.700.000,00	4,59%	THE GREEK FOUNDATION P.C.
13	Warehouse Building (logistics)	123, Kifissou Avenue		Nikaia- Ag.I.Rentis	Attica	1.487,24	2.054,30	832.038,94	996.840,42	870.000,00	0,70%	INFO QUEST TECHNOLOGIES S.M.S.A.
14	Land Plot	117, Kifissou Avenue		Nikaia- Ag.I.Rentis	Attica	640,24	0,00	252.815,44	151.288,71	189.000,00	0,15%	UΝISYSTEMS S.M.S.A.
15	Hotel	Ag.Ioannis - Porto		Tinos	Cyclades	7.877,00	3.388,47	3.004.012,94	2.520.556,72	3.000.000,00	2,42%	HOTEL BRAIN S.A.
													Part of the third floor of the property (258,13 sq.m.) is used by the Company.
													The fair value of the owner-occupied property and its unamortized value on
16	Office properties	Mitropoleos 3		Athens	Attica	77,66	677,19	2.786.609,29	2.768.855,23	2.748.000,00	2,21%	HINES HELLAS Sole Member P.V.	31.12.2021 amounts to 1.044.000,00 as it was purchased on 24.09.2021 and is
													owner-occupied according to the decision of the company's Board of Directors
													dated 13.12.2021.
17	Retail store	25is Martiou & E.Dodekanision 1		Rhodes	Dodekanisa	53,76	281,35	792.950,75	926.946,69	834.000,00	0,67%	ISTORM S.M.S.A.
													It concerns two land plots. The first land plot with surface of 515.72 sq.m. is
18	Land Plots	Ag.Georgios - Naousa		Paros	Cyclades	1.015,81		476.683,42	440.845,00	538.000,00	0,43%	HOTEL BRAIN S.A.	leased to Hotel Brain A.E. as a parking lot for the service of the hotel with a / a
		11, while the other plot with surface of 500.09 sq.m. which was acquired on
													30.07.2021 is not leased
19	Office properties	280 El.Venizelou Avenue		Kallithea	Attica	381,72	1.620,00	1.781.689,73	888.149,60	1.796.000,00	1,45%	CALL CENTER HELLAS S.A.
20	Office building with retail store on the ground floor	67, Aiolou Street		Athens	Attica	401,66	3.022,24	6.560.876,00	4.687.722,42	6.531.000,00	5,26%	MESOGEIOS S.A
												IANOS S.A.
21	Special use property and undreground parking spaces	64, Vas. Sofias Avenue		Athens	Attica	103,92	1.217,89	1.999.880,73	1.131.709,86	2.114.000,00	1,70%	EYE DAY CLINIC M.MEDICAL
												GREGORY'S S.A.C.I.	Lease commencement date on 01/01/2022
												IQ SKIN CLINICS S.A.
22	Retail store	8, Giaboudaki Street		Rethymnis	Rethymnis	1.063,00	782,31	1.155.011,29	1.343.172,45	1.183.000,00	0,95%	RETAIL WORLD S.A.
23	Hotel	Acharavi		Thinaliou	Corfu	13.875,64	1.236,80	3.045.135,86	744.676,30	2.900.000,00	2,34%	HOTEL BRAIN S.A.
													It concerns land plots with a total area of 102.813,17 sq.m which were merged
24	Land plots with under-development logistics complex	Patima or Iremos Topos or Lakkos or Gropa		Aspropyrgos	Attica	103.001,54	20.797,09	16.510.821,09	620.479,68	17.796.100,00	14,33%	INFO QUEST TECHNOLOGIES S.M.S.A.	on 24/11/2021 and on which the Company develops a Logistic park and on a
Kamaterou		nearby plot of 188,37 sq.m.
													Lease commencement date on 01/02/2022.
25	Office Building with retail store on the ground floor	Gounari Dim. 3		Piraeus	Attica	467,52	2.427,91	2.145.598,80	2.714.156,12	2.446.000,00	1,97%	LALIZAS S.A.
	TOTAL PROPERTIES					160.610,32	83.873,29	78.381.948,78	47.028.927,39	87.329.100,00	70,33%

				SUBSIDIARIES
								ACQUISITION COST	TAX VALUE OF	FAIR VALUE OF	% OF TOTAL
								INVESTMENT IN	TENANT	OTHER INFORMATION
Α/Α	DESCRIPTION OF LAND, BUILDING AND NAME OF SUBSIDIARY		LOCATION AND ADDRESS		SURFACE AREA IN SQ.M.	OF INVESTMENT IN	PROPERTIES OWNED	INVESTMENTS
		SUBSIDIARY
								SUBSIDIARY	BY THE SUBSIDIARY	31.12.2021
								31.12.2021
		Address		Municipality	District	Land	Building
													The Company on 31.12.2021 owned 100,00% of the shares of Plaza Hotel
													Skiathos M.A.E., which has full ownership of its property, with a fair value of €
1	Hotel, Plaza Hotel Skiathos S.M.S.A	Kanapitsa		Skiathos-Kanapitsa	Magnisia	10.454,78	4.068,77	7.722.337,86	3.332.016,59	7.892.003,18	6,36%	HOTEL BRAIN S.A.	4.800.000 based on an estimate by the company HVS HOSPITALITY
													CONSULTING SERVICES SA. On 27.10.2021 the General Meeting of
													Shareholders decided to increase the share capital by € 4.200.000.
													This investment relates to Sarmed Warehouses S.A. BriQ Properties R.E.I.C.
2	Logistics complex, SARMED WAREHOUSES S.A.	Tripio Lithari		Mandra	Attica	131.232,40	58.641,61	24.167.959,76	18.219.996,57	26.471.357,43	21,32%	SARMED LOGISTICS S.A.	owned as of 31.12.2021 80,00% of its share capital. The fair value of its
	properties (100%) amounts to € 29.888.000 and the tax value for the 100% of
													the real estate of Sarmed Wareouses A.E. amounts to € 22.774.995,71.
	TOTAL INVESTMENTS IN SUBSIDIARIES - NOT LISTED IN A STOCK EXCHANGE				141.687,18	62.710,38	31.890.297,62	21.552.013,16	34.363.360,61	27,67%
	TOTAL PROPERTIES AND INVESTMENTS IN SUBSIDIARIES					302.297,50	146.583,67	110.272.246,40	68.580.940,55	121.692.460,61	98,00%
	Cash in Hand									1.716,72
	Sight Deposits									2.481.239,45
	TOTAL CASH AND CASH EQUIVALENTS									2.482.956,17	2,00%
	TOTAL INVESTMENTS									124.175.416,78	100,00%
			31.12.2021					31.12.2019	31.12.2020	31.12.2021
			Unaudited					Audited	Audited	Unaudited
	Receivables		1.167.170,58	Total assets per IFRS				97.880.130,06	102.936.171,22	122.843.469,91
	Payables		35.158.887,10
				Fair value of properties according to Law 2778/1999			59.793.000,00	72.860.000,00	86.080.100,00
				% of valued properties on total assets				61,09%	70,78%	70,07%
				Fair value of owneroccupied property				204.000,00	185.000,00	1.249.000,00
				Net book value of owneroccupied property			150.535,00	147.315,00	1.188.095,00
				% of Net book value of owneroccupied property on total assets		0,15%	0,14%	0,97%
				Fair value of Investment in subsidiaries according to Law 2778/1999		-	28.631.589,10	34.363.360,61
				Acquisition Cost of Investment in subsidiaries				27.425.057,00	31.890.297,62
				% of valued holdings on total assets				-	26,64%	25,96%
				Total cash and cash equivalents				37.567.618,08	898.897,42	2.482.956,17
				% of total cash and cash equivalents on total assets			38,38%	0,87%	2,02%

Notes:

1. BriQ Properties REIC (the "Company") was established on 21.10.2016 (No. Proc. 56308 / 21.10.2016 announcement of the President of the E.B.E.A.) with General Registry of Commerce No. 140330201000, according to laws L.4548/2018, L.2778/1999 and L.4209/2013, as in force.
2. The Company has full ownership of all its properties. There is co ownership on the plot for the following properties: (i) s/n1 nine (9) separate horizontal properties with 780 ‰ ownership on the plot, (ii) s/n10 eleven (11) horizontal properties with 115,25‰ ownership on the plot, (iii) s/n16 eleven (1) horizontal property with 89,2‰ ownership on the plot, (iv) s/n17 eleven (1) horizontal property with 60,9‰ ownership on the plot, (v) s/n19 eleven (6) horizontal properties with 450‰ ownership on the plot, (vi) s/n21 two (2) horizontal property with 131‰ ownership on the plot. The land plot's area in the table refers to the area that corresponds to the coownership percentage of the land plot.
3. The description of properties reflects their current prevailing use.
4. The properties with s/n 1 to 4 and 8, 10, 16, 17, 19 and 22 have separate horizontal ownership.
5. On properties with s/n 4,5,6,7,10,11 and 19, prenotations of mortgages have been registered in favor of Eurobank Ergasias SA of € 26.000.000 for each. On properties with s/n 1,2 and 3, prenotations of mortgages have been registered in favor of Alpha Bank SA of € 12.000.000 for each. For the proprty with s/n 24, prenotation of mortgage has been registered in favor of Alpha Bank SA of € 24.000.000
6. On 11.02.2021 the Company acquired the property with s/n 25 at a total price of €2.100 thousand, excluding acquisition costs of €46 thousand.
7. On 20.05.2021 and 29.06.2021 the Company acquired three land plots which are adjacent to the property with s/n 24 at a total price of €1.038 thousand, excluding acquisition costs of €27 thousand.
8. On 30.07.2021 the Company acquired through an auction a land plot which is adjacent to the property with s/n 18 at a total price of €203 thousand, excluding acquisition costs of €5 thousand.
9. On 24.09.2021 the Company proceeded to the purchase of horizontal office property, in an existing property with s/n 16 for a price of € 1.050 thousand, excluding acquisition costs of € 49 thousand.
10. The "Fair Value 31.12.2021" refers to property values while the "Fair Value of Investment in Subsidiary" is the net asset value of the companies in which the Company holds interests and was based on the fair value of the underlying investment properties. In both cases, the fair value of the properties is determined at the aforementioned date, by the independent valuers in accordance with the European Valuation Standards (EVS), international standards such as the Royal Institute of Chartered Surveyors (RICS) guidelines and article 25 of Law 2778/1999, as in force. The percentage of total investments has been calculated based on property values as estimated by the independent valuers. According to the independent valuers, given the uncertainty from the evolution of the COVID-19 pandemic and the possible future effects on the markets of hospitality real estate in our country and internationally and in the absence of sufficient comparative data, conditions of " material valuation uncertainty" are created, as defined in the International Valuation Standards. For this reason, the values of the properties with a / a 11, 12, 15, 18, 23 and the property of the subsidiary with s/a 1 "Plaza Hotel Skiathos M.A.E." go through a period in which they will be monitored with a higher degree of caution.

	Kallithea, February 23rd 2022
THE CHAIRMAN OF THE BoD	THE CHIEF EXECUTIVE OFFICER	THE ACCOUNTING MANAGER	THE FINANCIAL CONTROLLER
Theodoros D. Fessas	Anna G. Αpostolidou	Konstantinos I. Tsiagkras	Emmanuil A. Andrikakis
ID Number ΑΕ106909	ID Number ΑΜ540378	ID Number ΑI 113404	ID Number Α0 133897
		E.C.G. Licence NO.0097897/ Α' class	E.C.G. Licence NO.0115401/ Α' class

[Translation from the original text in Greek]

Report of factual findings in connection with the 'Statement of Investments'

To the Board of Directors of BriQ Properties REIC

We have performed the procedures agreed with the Board of Directors of BriQ Properties REIC (the "Company"), as enumerated below and described in our engagement letter dated 5 July 2021, in the context of decision 8/259/19.12.2002 of the Board of Directors of the Hellenic Capital Market Commission, as amended by decisions 10/566/26.10.2010 and 5/760/14.07.2016, and article 25 of Law 2778/1999 with respect to the Company's Statement of Investments as of 31 December 2021.

The Company's Management is responsible for preparing the aforementioned Statement. Our engagement was undertaken in accordance with the International Standard on Related Services ('ISRS') 4400 applicable to agreed-upon-procedures engagements. Our responsibility is solely for performing the procedures described below and for reporting to you our findings.

Our agreed-upon-procedures and findings are as follows:

1. The above-mentioned "Statement of Investments" includes all the information in compliance with article 25 of the Law 2778/1999, as in force and the decision referenced 8/259/19.12.2002 of the Board of Directors of the Hellenic Capital Market Commission, as amended by the decisions referenced 10/566/26.10.2010 and 5/760/14.07.2016, which relate to real estate investment companies.
2. The descriptions of the investment properties which appear in the "Property Description" columns of the above- mentioned "Statement of Investments" is consistent with those described in the Valuation of Fair Value Reports as of 31 December 2021 prepared by the responsible independent valuers.
3. The fair values of the aforementioned investment properties which appear in the "Fair Value" column of the above-mentioned "Statement of Investments" were derived from the Valuation of Fair Value Reports as of 31 December 2021 prepared by the responsible independent valuers.
4. The fair value of investments in subsidiaries which appears in the "Fair Value of Investment in Subsidiary" column of the above-mentioned "Statement of Investments" was derived from the reported net asset value of the companies in which the Company holds interests. The reported net assets for these investments were based on the fair value of the underlying investment properties determined by the responsible independent valuers as described in their Valuation of Fair Value Reports as of 31 December 2021.
5. The total fair value of investment properties which appear in the above-mentioned "Statement of Investments" agrees with the corresponding value of Investment Properties appearing in the accounting records maintained by the Company for the year ended 31 December 2021.
6. The financial information included in the above-mentioned "Statement of Investments" was extracted from the accounting records maintained by the Company for the year ended 31 December 2021.
7. We confirmed that the calculations in the above-mentioned "Statement of Investments" are arithmetically accurate.

Because the above procedures do not constitute either an audit or a review in accordance with International Standards on Auditing or International Standards on Review Engagements, we do not express any assurance on the report beyond what we have referred to above. Had we performed additional procedures or had we performed an audit or review, other matters might have come to our attention that we would have reported to you.

Our report is solely addressed to the Board of Directors of the Company for purposes of fulfilling its responsibilities with respect to the decision 8/259/19.12.2002 of the Board of Directors of the Hellenic Capital Markets Commission, as amended by decisions 10/566/26.10.2010 and 5/760/14.07.2016.

Consequently, this report is not to be used for any other purpose, since it is limited to what is referred to above and does not extend to the annual Financial Statements prepared by the Company for the year ended 31 December 2021 for which we will issue a separate Auditor's Report.

	Athens, February 24th 2022
	The Certified Auditor
PricewaterhouseCoopers
Certified Auditors - Accountants,
268 Kifissias Avenue, Halandri 152 32	Evangelos Venizelos
SOEL Reg. No. 113	SOEL Reg. No. 39891