Boltens Gaard | Investment Memorandum

OPERATING BUDGET

YEAR 1

DKK total 5,308,449 5,023,725 5,014,547 4,722,309 1,150,431 358,282 4,135,453 460,149 26,173,346

DKK/sq m 1

Net rental income, F&B Net rental income, leisure Net rental income, residential Net rental income, office

3,886 2,661 1,759

1,717

Net rental income, retail

4,494

39

Other income 2 Service charges 3

454

51

Other service charges 4

Gross rental income, fully let

2,873

Notes: All amounts are quoted in DKK. Please refer to the FDP for detailed information. (1) Per sq m GLA. (2) Other income includes provisions, boilerman fee and administration fees from service charges and utilities accounts plus an indexation of 2.00% p.a. to reflect year 1. (3) Based on recovery rates from PwC’s FY25 financial review. Please refer to the FDP for detailed informa tion. (4) Parts of the Property are classified as preservation-worthy resulting in partial exemption from property taxes. However, the landlord is legally allowed to recover costs related to property taxes based on no property tax exemption, which this income reflects. Site and building taxes for the exempted parts of the buildings are estimated by the Seller in accordance with guidelines from EjendomDanmark at DKK 236,081 and DKK 449,352, respectively. (5) Site and building taxes based on 2026 tax notice. Other taxes include pest control, chimney sweeping, duct cleaning and pavement cleaning based on the Seller’s budget. Please make your own assumptions. (6) Waste disposal is based on 2026 figures for the residential part and 2025 figures for the commercial part. (7) Insurance costs estimated by Colliers at DKK 20 per sq m GLA. Please make your own assumptions. (8) Gross figures based on actual FY25 costs (PwC financial review) plus an indexation of 2.00% p.a. to reflect year 1. (9) Janitorial services costs estimated by Colliers at DKK 75 per sq m GLA. Please make your own assumptions. (10) Maintenance costs estimated by Colliers at DKK 175 per sq m GLA, accounting for both external main tenance and maintenance & repairs. Please make your own assumptions. (11) Property management estimated by Colliers at DKK 3,500 per residential unit and 1.50% of the fully let NRI for commercial usage. Please make your own assumptions.

-674,523 -821,605

-74

Site taxes 5

-90

Building taxes 5

-10,075

-1

Other taxes 5

-602,533 -184,650 -1,579,776 -248,141 -692,436 -145,510 -1,615,684 -525,295 -7,100,227

-66 -20 -173

Waste disposal 6

Insurance 7

Utilities 8

-27 -76 -16

Service subscriptions 8 Janitorial services 9 Other operating costs 8 Maintenance costs 10 Property management 11

-177 -58 -779

Operating costs

31

Net operating income, fully let

19,073,119

2,093