Unaudited financial report for the first quarter of 2025

The  main business  activity of  Trigon Property  Development AS  is real estate
development.   As  at  31.03.2025, AS  Trigon  Property  Development  owned  one
development project with an area of 13.2 hectares in the City of Pärnu, Estonia.
A  commercial,  industrial  and  logistics  park  is  planned  on this area. The
Company's  objective  is  to  find  companies  willing  to  bring their business
activities  (industry, logistics) to  the development project  area of AS Trigon
Property  Development in Pärnu, which would add value to the land plots owned by
the  Company. As the main purpose of the company is to sell existing land plots,
investment property was recognized as inventories.

In  the third  quarter of  2024, a 0.09-hectare  transportation purpose land was
sold for 31,920 euros (excluding VAT).

In  the fourth  quarter of  2024, a 0.70-hectare  property was sold for 300,000
euros (excluding VAT).

Condensed  statement of financial position as  of 31 March 2025 delivered by the
present  announcement  completely  reflects  the  assets, liabilities and equity
capital of AS Trigon Property Development.

According  to the condensed  statement of comprehensive  income the net loss for
first  quarter of 2025 of AS Trigon Property Development is 21,409 euros and the
earnings per share is 0.00476 EUR.

As of 31 March 2025 the assets of AS Trigon Property Development were 1,875,897
euros.  The equity of the company was 1,833,366 euros, corresponding to 95.178 %
of the total balance sheet.

Condensed statement of financial position

+------------------------------+------------+------------+
| EUR                          | 31.03.2025 | 31.12.2024 |
+------------------------------+------------+------------+
| Cash and cash equivalents    |    338,369 |    370,856 |
+------------------------------+------------+------------+
| Trade and other receivables  |     61,218 |     31,586 |
+------------------------------+------------+------------+
| Inventories                  |  1,526,664 |  1,471,238 |
+------------------------------+------------+------------+
| Total current assets         |  1,926,252 |  1,873,680 |
+------------------------------+------------+------------+
| TOTAL ASSETS                 |  1,926,252 |  1,873,680 |
+------------------------------+------------+------------+
| Trade and other payables     |     92,886 |     18,906 |
+------------------------------+------------+------------+
| Total current liabilities    |     92,886 |     18,906 |
+------------------------------+------------+------------+
| Total liabilities            |     92,886 |     18,906 |
+------------------------------+------------+------------+
| Share capital at book value  |    449,906 |    449,906 |
+------------------------------+------------+------------+
| Share premium                |    226,056 |    226,056 |
+------------------------------+------------+------------+
| Statutory reserve capital    |    287,542 |    287,542 |
+------------------------------+------------+------------+
| Retained earnings            |    869,861 |    891,270 |
+------------------------------+------------+------------+
| Total equity                 |  1,833,366 |  1,854,774 |
+------------------------------+------------+------------+
| TOTAL LIABILITIES AND EQUITY |  1,926,252 |  1,873,680 |
+------------------------------+------------+------------+


Condensed statement of comprehensive income

+-----------------------------------------+----------+----------+
| EUR                                     | I Q 2025 | I Q 2024 |
+-----------------------------------------+----------+----------+
| Administrative and general expenses     |  -24,855 |   -9,303 |
+-----------------------------------------+----------+----------+
| Operating loss                          |  -24,855 |   -9,303 |
+-----------------------------------------+----------+----------+
| Financial income                        |    3,446 |    1,484 |
+-----------------------------------------+----------+----------+
| NET LOSS FOR THE PERIOD                 |  -21,409 |   -7,820 |
+-----------------------------------------+----------+----------+
| TOTAL COMPREHENSIVE LOSS FOR THE PERIOD |  -21,409 |   -7,820 |
+-----------------------------------------+----------+----------+

Rando Tomingas

Member of the Management Board

Telephone: +372 667 9200

E-mail: [email protected]
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