Cromwell European REIT - Annual Report 2021

MANAGER’S REPORT software platform. The first regulatory reporting is expected to be submitted to the French government in September 2022. The Manager and the Property Manager are currently in the process of rolling out Deepki energy data collection software to all other CEREIT investment countries. ASSET MANAGEMENT FOCUS FOR FY 2022 The Manager will continue asset management and enhancement initiatives in the following areas: • Maintain a high level of occupancy in the portfolio (>93%) and WALE of >4 years through active leasing and tenant-customer engagement initiatives • Undertake vacant refurbishments to transform structurally vacant office space attached to warehouses into leasable space • Continue with property-level sustainability initiatives, with a specific focus on (1) consumption data collection, (2) setting specific reduction targets in line with new European regulation and (3) implementing various property related energy reduction measures (e.g. LED lighting, solar panels, smart metres, BMS control, ground source heating pumps, district heating) • Progress on the redevelopment of Via Nervesa 21, Italy • Commence the planning and construction stages on ~€250 million of redevelopment projects across different countries, beginning with Nove Mesto ONE Industrial Park I, Slovakia • Sell, release or prepare soon-to-be vacated assets for redevelopment across the Italian portfolio After: Via Nervesa 21, Italy artist impression by DEGW Italia FOCUS ON STRENGTHS PIVOT TO LOGISTICS 50