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€19M REI Commercial Office Portfolio in

The Netherlands

* Total Investment Cost: €19,000,000

Gross Operating Income EoY 7**: €8,300,000
     EBITDA EoY 7: €5,900,000

RE Portfolio Value Appreciati0n EoY 7***: €30,400,000
     EBITDA Asset Sale EoY 7: €11,400,000.00

EBITDA: Asset Sale + Operating Profit EoY 7: €17,000,000

Average Annual ROI: 13%
CAGR: 7%
IRR: 10%

Assumptions:

♦ Annual Rental Income Increase: 3%
♦ Inflation: 5%

* Foreign Exchange Reserve 20%
possibility to decrease the ROI%: €2,900,000
** The properties have an occupancy rate of 90%
*** Based on 3.25 to 5.00% Exit Yield with exit on Year 7

LOCATION 1

LOCATION 2

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Investment Rental income over 7 years

* Presented returns are estimates by PSTO based on available financial information, market comparables, and market performance estimates.
* PSTO makes no guarantees relating to the actual or future performance of the Company, or any asset or investment held by the Company.
* Estimated performance is for informational purposes only.