Nasdaq OMX Copenhagen A/S

Charlottenlund, May 19, 2026

Announcement no. 295

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Valueadjustment of properties

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Based oninformation received from the German commercial real estate appraiser thatnormally evaluates the Group’s German properties, the Board of Directors hasassessed the German High Street Properties Group’s German real estate portfolioat EUR 81.0 million as of 31 March 2026. The valuation of the Group’s Danishproperty remains unchanged at EUR 3.6 million, resulting in a total negativefair value adjustment of EUR 3.5 million in the first quarter of 2026 and atotal fair market value of the Group’s properties as of 31 March 2026 of EUR84.6 million.

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Thedecrease in property values during the first quarter of 2026 is attributable todiscussions with German commercial real estate appraiser, from whom the Grouphas received information that gross capitalization factors for Germanproperties have declined by 0.25–0.50 percentage points compared to 31 December2025. This development is driven by the current geopolitical situation, generaleconomic uncertainty, the risk of potentially higher interest rates, anddeclining consumer confidence.

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Anyquestions can be directed to the undersigned on +45 8110 0800.

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Sincerely,German High Street Properties A/S

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Hans Thygesen

Chairman of the Board