Cromwell European REIT - Annual Report 2021

FOCUS ON STRENGTHS PIVOT TO LOGISTICS 202 CEREIT Trust 2021 2020 2021 2020 €’000 €’000 €’000 €’000 Unitholders’ funds At 1 January 1,302,152 1,314,588 1,117,699 1,149,815 Operations Total return for the year attributable to Unitholders and perpetual securities holders 96,603 79,363 36,865 59,683 Less: Total return for the year attributable to perpetual securities holders (244) – (244) – Net increase in net assets resulting from operations 96,359 79,363 36,621 59,683 Unitholders’ transactions Issue of units: – Private placement 100,000 – 100,000 – – Base management fees – 962 – 962 – Property & portfolio management fees – 1,493 – 1,493 – Performance management fees – 1,952 – 1,952 – Acquisition fees 101 – 101 – – Distribution reinvestment plan 7,542 – 7,542 – Issue expenses (2,285) (10) (2,285) (10) Distributions to Unitholders (90,739) (96,196) (90,739) (96,196) Net increase/(decrease) in net assets resulting from Unitholders’ transactions 14,619 (91,799) 14,619 (91,799) Unitholders’ funds at 31 December 1,413,130 1,302,152 1,168,939 1,117,699 Perpetual securities holders’ funds At 1 January – – – – Issue of perpetual securities 65,136 – 65,136 – Issue expenses (1,230) – (1,230) – Total return for the year attributable to perpetual securities holders 244 – 244 – Perpetual securities holders’ funds at 31 December 64,150 – 64,150 – Total at 31 December 1,477,280 1,302,152 1,233,089 1,117,699 STATEMENTSOFMOVEMENTS INUNITHOLDERS’ FUNDS Year ended 31 December 2021 The accompanying notes form an integral part of the financial statements.