Cromwell European REIT - Annual Report 2021

FOCUS ON STRENGTHS PIVOT TO LOGISTICS 194 In the opinion of the Directors of the Manager, the accompanying financial statements set out on pages 199 to 272, comprising Balance Sheets and Statements of Movements in Unitholders’ Funds of Cromwell European Real Estate Investment Trust (the “Trust”) and its subsidiaries (collectively referred to as “CEREIT”), Consolidated Statement of Total Return, Consolidated Statement of Comprehensive Income, Consolidated Distribution Statement, Consolidated Statement of Cash Flows, Statement of Portfolio of CEREIT and notes to the Financial Statements are drawn up so as to present fairly, in all material respects, the consolidated balance sheet of CEREIT and the balance sheet of the Trust as at 31 December 2021, and the Consolidated Statement of Total Return, Consolidated Statement of Comprehensive Income, Consolidated Distribution Statement, Consolidated Statement of Movements in Unitholders’ Funds, Consolidated Statement of Cash Flows and Statement of Portfolio of CEREIT and the Statement of Movements in Unitholders’ Funds of the Trust for the year then ended on that date in accordance with International Financial Reporting Standards adopted by the International Accounting Standards Board, the recommendations of The Statement of Recommended Accounting Practice 7 “Reporting Framework for Unit Trusts” (Revised 2017) issued by the Institute of Singapore Chartered Accountants and the provisions of the Trust Deed. At the date of this statement, there are reasonable grounds to believe that CEREIT and the Trust will be able to meet their financial obligations as and when they materialise. For and on behalf of the Manager, Cromwell EREIT Management Pte. Ltd. Mr Simon Garing Director Singapore Date: 31 March 2022 STATEMENT BY THE MANAGER Year ended 31 December 2021