EQS-News

INCITY CLOSES FISCAL YEAR 2023 WITH A CONSOLIDATED LOSS OF EUR 6.0 M ACC. TO HGB – CONTINUED STABLE FINANCIAL SITUATION AND SIGNIFICANT HIDDEN RESERVES

EQS-News: InCity Immobilien AG / Key word(s): Annual Report INCITY CLOSES FISCAL YEAR 2023 WITH A CONSOLIDATED LOSS OF EUR 6.0 M ACC. TO HGB – CONTINUED STABLE FINANCIAL SITUATION AND SIGNIFICANT HIDDEN RESERVES 25.04.2024 / 08:31 CET/CEST The issuer is solely responsible for the content of this announcement.

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INCITY CLOSES FISCAL YEAR 2023 WITH A CONSOLIDATED LOSS OF EUR 6.0 M ACC. TO HGB – CONTINUED STABLE FINANCIAL SITUATION AND SIGNIFICANT HIDDEN RESERVES

• Net loss for the year of EUR -6.0 m for the Group and of EUR -9.7 m for the single-entity financial statements
• Development of results characterised by decrease in EBITDA and two extraordinary depreciations
• High equity ratio documents stable financial situation
• Net asset value was EUR 1.30 per share as of the balance sheet date (31 December 2022: EUR 1.66 per share)
• Very good letting situation in property portfolio continues
• Property portfolio continues to feature high hidden reserves despite decrease in market values
• Positive overall assessment of group economic situation and cautiously optimistic outlook for 2024

Schönefeld, 25 April 2024 – The annual report of InCity Immobilien AG (“InCity AG”) published today reports a net loss (acc. to HGB) of EUR 6.0 m at Group level and a net loss of EUR 9.7 m at single-entity annual financial statement level for fiscal year 2023. This means that the final results are below the forecast revised in December 2023. In this respect, the Management Board’s expectations and plans for the InCity Group and at the level of InCity Immobilien AG were not met in the course of 2023. The significantly lower result compared to the prior fiscal year (2022: EUR -2.9 m at Group level and EUR -1.9 m at single-entity annual financial statement level) is primarily due to a decrease in EBITDA as well as two extraordinary depreciations on portfolio properties.