Financial Plan Template

NOVACENTER PROJECT FINANCIAL MODEL
INDEX
1 PRESENTACIÓN VIRTUAL
2 ASSUMPTIONS
2.1 Entry/Exit Assumptions
2.2 Business Assumptions
2.3 Capex Assumptions
2.4 Financial Assumptions
2.5 Tax Assumptions
3 CASH FLOW
3.1 Annual Cash Flow
3.2 Quarterly Cash Flow
4 RENT ROLL
4.1 Rent Roll
4.2 Planos
4.2.1 Sótano -4
4.2.2 Sótano -3
4.2.3 Planta baja/Sótano -2
4.2.4 Sótano -1
4.2.5 Planta Primera
4.2.6 Planta Segunda
4.2.7 Planta Tercera
4.3 Distribución de Superficies
5 CAPEX
5.1 Capex Obra
5.2 Capex Comercialización
6 BUDGET
7 COMMERCIALIZATION
2 NOVACENTER PROJ
Start Date nov-19

Model Owner TITAN REIT
Project Name Novacenter
Type of property Mall
2.1 Entry/Exit Assumptions
ENTRY
Purchase Price 14,030,841
Transaction Cost 1,146,400
Fee 266,400
Others 880,000
2.2 Business Assumptions
SBA 21,465.9
Price per SBA 653.6
Inflaction rate 1.25%
Stabilized occupation 95%
Rents €/m2/month 8.71
Expenses €/m2/month 3.31
Collection Loss 2.50%
End of work (quarter) 2
Rental Contract Duration 1º (months) 60
Rental Contract Duration 2º (months) 72
New Rental Comissions 16%
Rent renovation Comissions 6%
Mall income p.a 100,000
Fit-Out €/m2 100
Void Cost (Months) 6
Rent Free (Months -
PM fee as % of net rents 2.50%
AM fee as % of GAV 1.50%
Admin&Structure cost
Valuation 11,000
Audit&Accg. 40,000
Services 24,000
Structure 25,000
Total 100,000
2.3 Capex Assumptions
Novacenter Work
Star (quarter) 1.0
End (quarter) 2.0
Total Work Capex 2,351,573.8
Capex by Quarter 1,175,786.9
Quarter 1 50.00%
Quarter 2 50.00%
2.4 Financial Assumptions
Initial Senior Debt
LTV 7,000,000 49.89%

Up-front-debt-fee 1.50%
All-in-cash-interest 900 bps
All-in-Pik-interest 250 bps
Amortization -
Debt repayment penalty 1.50%
Repayment (quarter) 6.0
Sen
Drawdown (quarter)
Valuation
Loan Amount/LTV
Up-front debt fee
All-in-cash-interest
All-in-PIK-interest
Amortization
Debt repayment penalty
Repayment (year)
Years
2.5 Tax Assumptions
Max. Interest rate deductive 100%

Shareholders Loan (%) All-in Cost -
Interest on SH Loan -
Land Value/Building Value % 20%
Land Value/Building Value 2,827,168
Annual Depreciation 2%
Income Tax 25%
CGT Taxes 30%
CGT Hit 50%
Year Loan Installment Interest

2021 - 96,907.01
2021 1,043,578.05 € 323,023.35
2022 1,043,578.05 € 305,009.48
2023 1,043,578.05 € 286,545.27
2024 1,043,578.05 € 267,619.45
2025 1,043,578.05 € 248,220.48
2026 1,043,578.05 € 228,336.55
2027 1,043,578.05 € 207,955.51
2028 1,043,578.05 € 187,064.94
2029 1,043,578.05 € 165,652.12
2030 1,043,578.05 € 143,703.97
2031 1,043,578.05 € 121,207.12
2032 1,043,578.05 € 98,147.84
2033 1,043,578.05 € 74,512.09
2034 1,043,578.05 € 50,285.44
2035 1,043,578.05 € 25,453.12
NOVACENTER PROJECT ASSUMPTIONS
OUTPUT
Lev(post-tax)
MOIC 1.6x
IRR 22.18%
PROFIT 11,069,185.3
EXIT
Year Exit 4.00
Gross Sale Price (Calculation based on exit NOI) 29,783,936.5
Exit NOI 1,787,036.2
NOI Exit Yield 6.00%
Output transaction (Broker) 1.00%
Legal&Tax 200,000
EXIT YIELD VALUATION

Year Yield
0
1 10.00%
2 7.00%
3 7.00%
4 6.00%
5 6.00%
6 6.00%
6+ 6.00%
Novacenter Commercialization
Start (quarter) 2.0
End (quarter) 4.0
Total Commercialization Capex 2,532,867.0
Quarter 1 57.1%
Quarter 2 35.0%
Quarter 3 7.9%
Capex Debt
Loan to amount 4,884,440.8

Up-front-debt-fee 1.5%
All-in-cash-interest 350 bps
All-in-Pik-interest -
Amortization -
Debt repayment penalty 1.50%
Repayment(quarter) 6.0
Senior Debr Ref.
6.0
24,847,950.05
12,920,934.0 52%
0.75%
250 bps
-
800 bps
0.50%
4.0
15.0
80%
11,308,673
Amortization Live Capital Amortized Capital

- 12,920,934.02
720,554.70 12,200,379.32 720,554.70
738,568.57 11,461,810.76 1,459,123.27
757,032.78 10,704,777.98 2,216,156.05
775,958.60 9,928,819.38 2,992,114.65
795,357.57 9,133,461.81 3,787,472.21
815,241.50 8,318,220.31 4,602,713.72
835,622.54 7,482,597.76 5,438,336.26
856,513.11 6,626,084.66 6,294,849.37
877,925.93 5,748,158.72 7,172,775.30
899,874.08 4,848,284.64 8,072,649.38
922,370.93 3,925,913.71 8,995,020.32
945,430.21 2,980,483.50 9,940,450.52
969,065.96 2,011,417.54 10,909,516.49
993,292.61 1,018,124.93 11,902,809.10
1,018,124.93 - 0.00 12,920,934.02
Unlevered
1.7x
16.03%
14,120,734.7
4.00
29,783,936.5
1,787,036.2
6.00%
1.00%
200,000
N
Yield
10.00%
7.00%
7.00%
6.00%
6.00%
6.00%
6.00%
ation
2.0
4.0
2,532,867.0
57.1%
35.0%
7.9%
4,884,440.8
1.5%
350 bps
-
-
1.50%
6.0
Loan Installment 1,043,578.05 €
Interest 2.50%
Amortization 8%
3 CASH FLOW
Sources & Uses

Sources
Debt 7,000,000.00
Equity 7,135,840.75
Total 14,135,840.75
3.1 ANNUAL CASH FLOW
ANNUAL CASH FLOW
Occupancy
Potential Rental Income (@ 100% occ.)
Conractual Rental Income
Mall Income
Gross Rental Income
Collection Loss
Net Rents Received
Non Recoverable Opex
Void Costs
PM Fees
NOI
NOI Margin
Admin & Structure Costs
Capex
AM Fees
Leasing commissions
TIS
Operating Cash-flows
In-Place Rents per SQM
Market Rents per SQM
Over- / (Under-) Rented (%)
UNLEVERED CASH-FLOWS
Purchase Price
Purchase Cost
Operating Cash-Flows
Sales Price
Exit Transaction
Total Unlevered Cash-Flows
Cash-on-Cash
IRR 16.03%
Profit/MOIC 14,120,735
LEVERED CASH-FLOWS (PRE-TAXES)
Purchase Price
Purchase Cost
Sales Price
Exit Transaction
Initial Debt Facility
Debt Upfront Fees
Debt Drawdown
Cash Interest
Amo
Debt Repayment
Repayment Penalty
Refi Debt Facility
Debt Upfront Fees
Debt Drawdown
Cash Interest
Amo
Debt Repayment
Repayment Penalty
Capex Debt
Debt Upfront Fees
Debt Drawdown
Cash Interest
Amo
Debt Repayment
Repayment Penalty
Levered Cash-Flows (pre-taxes)
Cash on Cash
Levered IRR 26.86%
LEVERED CASH-FLOWS (POST-TAXES)
Total Levered Cash-Flows

Income Taxes
CGT Taxes
Levered Cash-Flows (post-taxes)
Cash-on-Cash
Levered IRR 22.18%

SENSITIVITY ANALYSIS
EXIT NOI/ % Delta to Base

Case
Exit NOI
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
Sources & Uses
% (All-in) Uses
49.52% Purchase Price 14,030,840.75
50.48% Debt up Front 105,000.00
100.00% 14,135,840.75
nov-20 nov-21 nov-22 nov-23 nov-24
95% 95% 95% 95% 95%

1,123,478.61 2,268,000.65 2,296,350.65 2,325,055.04 2,354,118.23
1,067,304.68 2,154,600.61 2,181,533.12 2,208,802.29 2,236,412.31
50,077.76 101,093.51 102,357.18 103,636.64 104,932.10
1,117,382.45 2,255,694.12 2,283,890.30 2,312,438.93 2,341,344.41
(26,683) (53,865) (54,538) (55,220) (55,910)
1,090,699.83 2,201,829.11 2,229,351.97 2,257,218.87 2,285,434.11
(179,298) (361,955) (366,480) (371,061) (375,699)
(448,262) (42,692) (42,692) (42,692) (42,692)
(27,267) (55,046) (55,734) (56,430) (57,136)
435,872 1,742,137 1,764,447 1,787,036 1,809,908
40% 79% 79% 79% 79%
(100,078) (101,094) (102,357) (103,637) (104,932)
(2,351,574) - - - -
(105,231) (373,315) (378,096) (446,759) (452,477)
(164,006) - - - -
(2,532,867) - - - -
(4,817,884) 1,267,728 1,283,994 1,236,640 1,252,499
13.08 26.41 26.74 27.08 27.42
13.08 26.41 26.74 27.08 27.42
0% 0% 0% 0% 0%
(14,030,841) - - - -
(105,000) - - - -
(4,817,884) 1,267,728 1,283,994 1,236,640 -
- - - 29,783,936 -
- - - (497,839) -
(18,953,725) 1,267,728 1,283,994 30,522,738 -
0.00% 6.69% 6.77% 6.52% -
1.73x
(14,030,841) - - - -
(105,000) - - - -
(4,817,884) 1,267,728 1,283,994 1,236,640 -
- - - 29,783,936 -
- - - (497,839) -
- - - - -
7,000,000 - - - -
- (649,935) - - -
- - - - -
- (7,266,636) - - -
- (109,000) - - -
- (96,907) - - -
- 12,920,934 - - -
- (242,268) (305,009) (286,545) -
- (540,416) (738,569) (757,033) -
- - - (10,884,917) -
- - - (54,425) -
(73,267) - - - -
4,884,441 - - - -
(42,739) - - - -
- - - - -
- (4,884,441) - - -
- (73,267) - - -
(7,185,290) 325,794 240,416 18,539,818 -
- 3.3% 2.7% 0.0%
1.72x
(7,185,290) 325,794 240,416 18,539,818 -

(160,429) (174,005) (213,792) (206,890) -
- - - (1,679,240) -
(7,345,719) 151,789 26,624 16,653,689 -
- 0.36% 0.00% 0.00%
1.57x
22.18% 5.00% 5.25% 5.50%

(20.0%) 1,429,629.0 21.61% 19.35% 17.17%
(15.0%) 1,518,980.8 24.38% 22.16% 20.01%
(10.0%) 1,608,332.6 26.96% 24.76% 22.64%
(5.0%) 1,697,684.4 29.38% 27.20% 25.11%
– 1,787,036.2 31.66% 29.50% 27.42%
5.0% 1,876,388.0 33.82% 31.66% 29.60%
10.0% 1,965,739.8 35.87% 33.72% 31.66%
15.0% 2,055,091.6 37.82% 35.68% 33.63%
20.0% 2,144,443.4 39.68% 37.54% 35.50%
1,787,036.2
1,429,629.0
1,518,980.8
1,608,332.6
1,697,684.4
1,787,036.2
1,876,388.0
1,965,739.8
2,055,091.6
2,144,443.4
nov-25 nov-26 nov-27 nov-28 nov-29 TOTAL
95% 95% 95% 95% 95%

2,383,544.70 2,413,339.01 2,443,505.75 2,474,049.57 2,504,975.19 22,586,417.40
2,264,367.47 2,292,672.06 2,321,330.46 2,350,347.09 2,379,726.43 21,457,096.53
106,243.75 107,571.80 108,916.45 110,277.90 111,656.38 1,006,763.46
2,370,611.22 2,400,243.86 2,430,246.91 2,460,624.99 2,491,382.81 22,463,860.00
(56,609) (57,317) (58,033) (58,759) (59,493) (536,427)
2,314,002.03 2,342,927.06 2,372,213.65 2,401,866.32 2,431,889.65 21,927,432.59
(380,395) (385,150) (389,964) (394,839) (399,774) (3,604,616)
(42,692) (42,692) (42,692) (42,692) (42,692) (832,486)
(57,850) (58,573) (59,305) (60,047) (60,797) (548,186)
1,833,065 1,856,512 1,880,252 1,904,289 1,928,626 16,942,144.85
79% 79% 79% 79% 79% -
(106,244) (107,572) (108,916) (110,278) (111,656) (1,056,763)
- - - - - (2,351,574)
(458,266) (464,128) (470,063) (476,072) (482,157) (4,106,564)
(136,072) - - - - (300,079)
- - - - - (2,532,867)
1,132,483 1,284,812 1,301,273 1,317,939 1,334,813 6,594,297
27.76 28.11 28.46 28.81 29.17 26.30
27.76 28.11 28.46 28.81 29.17 26.30
0% 0% 0% 0% 0% -
- - - - - (14,030,841)
- - - - - (105,000)
- - - - - (1,029,522)
- - - - - 29,783,936
- - - - - (497,839)
- - - - - 14,120,735
- - - - -
- - - - - (14,030,841)
- - - - - (105,000)
- - - - - (1,029,522)
- - - - - 29,783,936
- - - - - (497,839)
-
- - - - - -
- - - - - 7,000,000
- - - - - (649,935)
- - - - - -
- - - - - (7,266,636)
- - - - - (109,000)
-
- - - - - (96,907)
- - - - - 12,920,934
- - - - - (833,822)
- - - - - (2,036,017)
- - - - - (10,884,917)
- - - - - (54,425)
-
- - - - - (73,267)
- - - - - 4,884,441
- - - - - (42,739)
- - - - - -
- - - - - (4,884,441)
- - - - - (73,267)
- - - - - 11,920,738
- - - - -
- - - - - 11,920,738
- - - - - (755,116)
- - - - - (1,679,240)
- - - - - 9,486,383
- - - - -
0
1,787,036
NOI Exit Yield
5.75% 6.00% 6.25% 6.50% 6.75% 7.00%
15.04% 12.98% 10.96% 8.98% 7.03% 5.11%
17.93% 15.91% 13.94% 12.02% 10.14% 8.29%
20.06% 18.62% 16.69% 14.81% 12.98% 11.98%
23.08% 21.13% 19.23% 17.39% 15.60% 13.84%
25.41% 22.18% 21.61% 19.80% 18.03% 16.31%
27.61% 25.70% 23.85% 22.05% 20.31% 18.62%
29.69% 27.79% 25.95% 24.18% 22.46% 20.78%
31.66% 29.77% 27.95% 26.19% 24.48% 22.83%
33.58% 31.66% 29.85% 28.10% 26.41% 24.76%
3.2
Sensi NOI
-
Sensi Exit Yield

7.5%
Purchase Price 14,030,840.75 14,030,840.75
Implied Valuation
Valuation Yield 0.0% 0.0%
QUARTERLY CASH FLOW
ADQUISICIÓN
QUARTERLY CASH FLOW nov-19
Occupancy 49.31%
Potential Rental Income (@ 100% occ.) -
Conractual Rental Income -
Mall Income -
Gross Rental Income -
Collection Loss -
Net Rents Received -
Non Recoverable Opex -
Void Costs -
PM Fees -
NOI -
NOI Margin -
Admin & Structure Costs -
Capex -
AM Fees -
Leasing commissions -
TIS -
Operating Cash-flows -
In-Place Rents per SQM -
Market Rents per SQM -
Over- / (Under-) Rented (%) -
ADQUISICIÓN
UNLEVERED CASH-FLOWS nov-19
Purchase Price (14,030,841)

Purchase Cost (105,000)
Sales Price
Exit Transaction
Total Unlevered Cash-Flows (14,135,841)
IRR 16.03%
ADQUISICIÓN
LEVERED CASH-FLOWS (PRE-TAXES) nov-19
Purchase Price (14,030,841)

Purchase Cost (105,000)
Sales Price
Exit Transaction
Initial Debt Facility
Debt Upfront Fees
Debt Drawdown
Cash Interest
Amo
Debt Repayment
Repayment Penalty
Refi Debt Facility
Debt Upfront Fees
Debt Drawdown
Cash Interest
Amo
Debt Repayment
Repayment Penalty
Capex Debt
Debt Upfront Fees
Debt Drawdown
Cash Interest
Amo
Debt Repayment
Repayment Penalty
Levered Cash-Flows (pre-taxes) (14,135,841)
Levered IRR 26.86%
ADQUISICIÓN
LEVERED CASH-FLOWS (POST-TAXES) nov-19
Total Levered Cash-Flows (14,135,841)

Income Taxes -
CGT Taxes -
Levered Cash-Flows (post-taxes) (14,135,841)
Levered IRR 22.18%

Debt Repayment Schedule - Initial nov-19

BoP
Cash Interest Interest -
PIK Interest -
Amo
Principal Repayment
EoP
Refi- Debt Facility nov-19

Drawdown -
BoP
Cash Interest Interest
PIK Interest
Amo
Principal Repayment
EoP
Capex - Debt nov-19

BoP
Cash Interest Interest
PIK Interest
Amo
Dispositions
Principal Repayment
EoP -
nov-19
Land Value BoP (20%)
Building Value BoP (80%)

Capex Costs to be capitalized
Basis for Depreciation
Depreciation
Total Book Value
Corporate Income Tax nov-19

NOI
AM Fees
Financing Expese
Shareholder Loan
Depreciation
Taxable Income / Loss
Income Tax
CGT Calcs nov-19

Net Disposal Proceeds
Book Value
Profit over adjusted book
CGT
14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75
(8,538,321) (8,538,321) 17,228,305 17,283,220 24,769,010
10.0% 10.0% 10.0% 10.0% 7.0%
FASE CAPEX
feb-20 may-20 ago-20 nov-20 feb-21
75% 85% 95% 95% 95%

- - 560,867 562,612 564,362
- - 532,824 534,481 536,143
- - 25,000 25,078 25,156
- - 557,824 559,559 561,299
- - (13,321) (13,362) (13,404)
- - 544,503 546,197 547,896
- - (89,510) (89,788) (90,068)
(213,458) (213,458) (10,673) (10,673) (10,673)
- - (13,613) (13,655) (13,697)
(213,458) (213,458) 430,708 432,081 433,458
- - 79.10% 79.11% 79.11%
(25,000) (25,000) (25,000) (25,078) (25,156)
(1,175,787) (1,175,787) - - -
- - (52,616) (52,616) (92,884)
(92,216) (35,895) (35,895) - -
(1,446,267) (886,346) (200,254) - -
(2,952,727) (2,336,487) 116,943 354,387 315,418
- - 6.5 6.6 6.6
- - 6.5 6.6 6.6
- - - - -
FASE CAPEX
- - - - -
- - - - -
(2,952,727) (2,336,487) 116,943 354,387 315,418
- - - - -
- - - - -
(2,952,727) (2,336,487) 116,943 354,387 315,418
1.73x
FASE CAPEX
- - - - -
- - - - -
(2,952,727) (2,336,487) 116,943 354,387 315,418
- - - - -
- - - - -
- - - - -
7,000,000 - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
(73,267) - - - -
4,884,441 - - - -
(22,943) (18,044) (1,752) - -
- - - - -
- - - - -
- - - - -
8,835,504 (2,354,530) 115,190 354,387 315,418
1.72x
FASE CAPEX
8,835,504 (2,354,530) 115,190 354,387 315,418

- - (79,699) (80,730) (71,008)
- - - - -
8,835,504 (2,354,530) 35,492 273,657 244,410
1.57x

7,000,000 7,043,750 7,087,773 7,132,072 7,176,647
- - - - -
43,750 44,023 44,299 44,575 44,854
- - - - -
- - - -
7,043,750 7,087,773 7,132,072 7,176,647 7,221,502

- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -

4,884,441 2,262,387 200,254 - -
(22,943) (18,044) (1,752) - -
- - - - -
- - - - -
(2,622,054) (2,062,133) (200,254) - -
- - - - -
2,262,387 200,254 - - -
2,827,168 2,827,168 2,827,168 2,827,168 2,827,168
11,308,673 11,308,673 11,308,673 11,308,673 11,308,673

2,622,054 2,062,133 200,254 - -
13,930,727 13,370,806 11,508,926 11,308,673 11,308,673
(69,654) (66,854) (57,545) (56,543) (56,543)
16,688,241 18,683,520 18,826,229 18,769,686 18,713,142

(213,458) (213,458) 430,708 432,081 433,458
- - (52,616) (52,616) (92,884)
(213,458) (213,458) (1,752) - -
- - - - -
(69,654) (66,854) (57,545) (56,543) (56,543)
(496,570) (493,770) 318,795 322,921 284,031
- - (79,699) (80,730) (71,008)

- - - - -
- - - - -
- - - - -
- - - - -
14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75
24,847,950 24,927,136 25,006,567 25,086,246 25,166,173
7.0% 7.0% 7.0% 7.0% 7.0%
may-21 ago-21 nov-21 feb-22 may-22
95% 95% 95% 95% 95%

566,117 567,878 569,644 571,416 573,193
537,811 539,484 541,162 542,845 544,534
25,234 25,313 25,391 25,470 25,549
563,045 564,796 566,553 568,315 570,083
(13,445) (13,487) (13,529) (13,571) (13,613)
549,600 551,309 553,024 554,744 556,470
(90,348) (90,629) (90,911) (91,194) (91,477)
(10,673) (10,673) (10,673) (10,673) (10,673)
(13,740) (13,783) (13,826) (13,869) (13,912)
434,839 436,225 437,615 439,009 440,408
79.12% 79.13% 79.13% 79.14% 79.14%
(25,234) (25,313) (25,391) (25,470) (25,549)
- - - - -
(93,180) (93,477) (93,775) (94,073) (94,373)
- - - - -
- - - - -
316,425 317,436 318,449 319,466 320,485
6.6 6.6 6.6 6.7 6.7
6.6 6.6 6.6 6.7 6.7
- - - - -
- - - - -
- - - - -
316,425 317,436 318,449 319,466 320,485
- - - - -
- - - - -
316,425 317,436 318,449 319,466 320,485
- - - - -
- - - - -
316,425 317,436 318,449 319,466 320,485
- - - - -
- - - - -
- - - - -
- - - - -
(649,935) - - - -
- - - - -
(7,266,636) - - - -
(109,000) - - - -
(96,907) - - - -
12,920,934 - - - -
(80,756) (80,756) (80,756) (76,252) (76,252)
(180,139) (180,139) (180,139) (184,642) (184,642)
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
(4,884,441) - - - -
(73,267) - - - -
(103,720) 56,541 57,555 58,571 59,591
(103,720) 56,541 57,555 58,571 59,591

- (51,362) (51,635) (53,035) (53,310)
- - - - -
(103,720) 5,179 5,919 5,536 6,281

7,221,502 - - - -
(649,935) - - - -
45,134 - - - -
- - - - -
(7,266,636) - - - -
- - - - -

12,920,934 - - - -
12,920,934 12,740,795 12,560,657 12,380,518 12,195,876
(80,756) (80,756) (80,756) (76,252) (76,252)
- - - - -
(180,139) (180,139) (180,139) (184,642) (184,642)
- - - - -
12,740,795 12,560,657 12,380,518 12,195,876 12,011,234

- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
(4,884,441) - - - -
- - - - -
2,827,168 2,827,168 2,827,168 2,827,168 2,827,168
11,308,673 11,308,673 11,308,673 11,308,673 11,308,673

- - - - -
11,308,673 11,308,673 11,308,673 11,308,673 11,308,673
(56,543) (56,543) (56,543) (56,543) (56,543)
18,656,599 18,600,056 18,543,512 18,486,969 18,430,426

434,839 436,225 437,615 439,009 440,408
(93,180) (93,477) (93,775) (94,073) (94,373)
(434,839) (80,756) (80,756) (76,252) (76,252)
- - - - -
(56,543) (56,543) (56,543) (56,543) (56,543)
(149,723) 205,449 206,541 212,140 213,239
- (51,362) (51,635) (53,035) (53,310)

- - - - -
- - - - -
- - - - -
- - - - -
14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75
25,246,348 25,326,773 29,642,022 29,736,436 29,831,143 29,926,145
7.0% 7.0% 6.0% 6.0% 6.0% 6.0%
ago-22 nov-22 feb-23 may-23 ago-23 nov-23
95% 95% 95% 95% 95% 95%

574,976 576,765 578,559 580,358 582,164 583,974
546,228 547,927 549,631 551,340 553,055 554,776
25,629 25,709 25,789 25,869 25,949 26,030
571,856 573,635 575,419 577,209 579,005 580,806
(13,656) (13,698) (13,741) (13,784) (13,826) (13,869)
558,201 559,937 561,679 563,426 565,178 566,936
(91,762) (92,047) (92,333) (92,621) (92,909) (93,198)
(10,673) (10,673) (10,673) (10,673) (10,673) (10,673)
(13,955) (13,998) (14,042) (14,086) (14,129) (14,173)
441,811 443,219 444,630 446,047 447,467 448,892
79.15% 79.16% 79.16% 79.17% 79.17% 79.18%
(25,629) (25,709) (25,789) (25,869) (25,949) (26,030)
- - - - - -
(94,674) (94,975) (111,158) (111,512) (111,867) (112,223)
- - - - - -
- - - - - -
321,508 322,535 307,684 308,666 309,651 310,639
6.7 6.7 6.7 6.8 6.8 6.8
6.7 6.7 6.7 6.8 6.8 6.8
- - - - - -
- - - - - -
- - - - - -
321,508 322,535 307,684 308,666 309,651 310,639
- - - - - 29,783,936
- - - - - (497,839)
321,508 322,535 307,684 308,666 309,651 29,596,736
- - - - - -
- - - - - -
321,508 322,535 307,684 308,666 309,651 310,639
- - - - - 29,783,936
- - - - - (497,839)
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
(76,252) (76,252) (71,636) (71,636) (71,636) (71,636)
(184,642) (184,642) (189,258) (189,258) (189,258) (189,258)
- - - - - (10,884,917)
- - - - - (54,425)
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
60,614 61,640 46,790 47,772 48,757 18,396,500
60,614 61,640 46,790 47,772 48,757 18,396,500

(53,585) (53,862) (51,323) (51,589) (51,855) (52,122)
- - - - - (1,679,240)
7,028 7,778 (4,534) (3,817) (3,099) 16,665,138

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
12,011,234 11,826,592 11,641,949 11,452,691 11,263,433 11,074,175
(76,252) (76,252) (71,636) (71,636) (71,636) (71,636)
- - - - - -
(184,642) (184,642) (189,258) (189,258) (189,258) (189,258)
- - - - - (10,884,917)
11,826,592 11,641,949 11,452,691 11,263,433 11,074,175 -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
2,827,168 2,827,168 2,827,168 2,827,168 2,827,168 2,827,168
11,308,673 11,308,673 11,308,673 11,308,673 11,308,673 11,308,673

- - - - - -
11,308,673 11,308,673 11,308,673 11,308,673 11,308,673 11,308,673
(56,543) (56,543) (56,543) (56,543) (56,543) (56,543)
18,373,882 18,317,339 18,260,796 18,204,252 18,147,709 18,091,165

441,811 443,219 444,630 446,047 447,467 448,892
(94,674) (94,975) (111,158) (111,512) (111,867) (112,223)
(76,252) (76,252) (71,636) (71,636) (71,636) (71,636)
- - - - - -
(56,543) (56,543) (56,543) (56,543) (56,543) (56,543)
214,342 215,447 205,293 206,355 207,421 208,489
(53,585) (53,862) (51,323) (51,589) (51,855) (52,122)

- - - - - 29,286,097
- - - - - 18,091,165
- - - - - 11,194,932
- - - - - (1,679,240)
14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75
30,021,442 30,117,035 30,212,926 30,309,116 30,405,604 30,502,392
6.0% 6.0% 6.0% 6.0% 6.0% 6.0%
FASE EXPLOTACIÓN
feb-24 may-24 ago-24 nov-24 feb-25 may-25
95% 95% 95% 95% 95% 95%

585,791 587,613 589,441 591,274 593,113 594,958
556,501 558,232 559,969 561,710 563,457 565,210
26,111 26,192 26,274 26,355 26,437 26,520
582,612 584,424 586,242 588,066 589,895 591,730
(13,913) (13,956) (13,999) (14,043) (14,086) (14,130)
568,700 570,469 572,243 574,023 575,808 577,599
(93,488) (93,778) (94,070) (94,363) (94,656) (94,951)
(10,673) (10,673) (10,673) (10,673) (10,673) (10,673)
(14,217) (14,262) (14,306) (14,351) (14,395) (14,440)
450,322 451,756 453,194 454,637 456,084 457,536
79.18% 79.19% 79.20% 79.20% 79.21% 79.21%
(26,111) (26,192) (26,274) (26,355) (26,437) (26,520)
- - - - - -
(112,580) (112,939) (113,298) (113,659) (114,021) (114,384)
- - - - - -
- - - - - -
311,630 312,624 313,622 314,622 315,626 316,632
6.8 6.8 6.9 6.9 6.9 6.9
6.8 6.8 6.9 6.9 6.9 6.9
- - - - - -
FASE EXPLOTACIÓN
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
FASE EXPLOTACIÓN
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
FASE EXPLOTACIÓN
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75
30,599,482 30,696,874 30,794,568 30,892,566 30,990,870 31,089,479
6.0% 6.0% 6.0% 6.0% 6.0% 6.0%
N
95% 95% 95% 95% 95% 95%

596,809 598,665 600,527 602,395 604,269 606,148
566,968 568,732 570,501 572,275 574,055 575,841
26,602 26,685 26,768 26,851 26,935 27,018
593,570 595,416 597,269 599,126 600,990 602,859
(14,174) (14,218) (14,263) (14,307) (14,351) (14,396)
579,396 581,198 583,006 584,819 586,638 588,463
(95,246) (95,542) (95,839) (96,138) (96,437) (96,737)
(10,673) (10,673) (10,673) (10,673) (10,673) (10,673)
(14,485) (14,530) (14,575) (14,620) (14,666) (14,712)
458,992 460,453 461,919 463,388 464,863 466,342
79.22% 79.22% 79.23% 79.24% 79.24% 79.25%
(26,602) (26,685) (26,768) (26,851) (26,935) (27,018)
- - - - - -
(114,748) (115,113) (115,480) (115,847) (116,216) (116,586)
(136,072) - - - - -
- - - - - -
181,570 318,655 319,671 320,690 321,713 322,738
7.0 7.0 7.0 7.0 7.0 7.1
7.0 7.0 7.0 7.0 7.0 7.1
- - - - - -
N
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
N
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
N
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75
31,188,394 31,287,618 31,387,150 31,486,991 31,587,143 31,687,607
6.0% 6.0% 6.0% 6.0% 6.0% 6.0%
95% 95% 95% 95% 95% 95%

608,034 609,925 611,822 613,725 615,634 617,549
577,632 579,429 581,231 583,039 584,852 586,672
27,102 27,187 27,271 27,356 27,441 27,527
604,734 606,615 608,502 610,395 612,294 614,198
(14,441) (14,486) (14,531) (14,576) (14,621) (14,667)
590,294 592,130 593,971 595,819 597,672 599,531
(97,037) (97,339) (97,642) (97,946) (98,250) (98,556)
(10,673) (10,673) (10,673) (10,673) (10,673) (10,673)
(14,757) (14,803) (14,849) (14,895) (14,942) (14,988)
467,826 469,314 470,807 472,305 473,807 475,314
79.25% 79.26% 79.26% 79.27% 79.28% 79.28%
(27,102) (27,187) (27,271) (27,356) (27,441) (27,527)
- - - - - -
(116,956) (117,329) (117,702) (118,076) (118,452) (118,829)
- - - - - -
- - - - - -
323,767 324,799 325,834 326,873 327,914 328,959
7.1 7.1 7.1 7.1 7.2 7.2
7.1 7.1 7.1 7.1 7.2 7.2
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75 14,030,840.75
31,788,383 31,889,473 31,990,877 32,092,596 32,194,632 32,296,985
6.0% 6.0% 6.0% 6.0% 6.0% 6.0%
95% 95% 95% 95% 95% 95%

619,470 621,397 623,330 625,268 627,213 629,164
588,496 590,327 592,163 594,005 595,853 597,706
27,612 27,698 27,784 27,871 27,957 28,044
616,109 618,025 619,947 621,876 623,810 625,750
(14,712) (14,758) (14,804) (14,850) (14,896) (14,943)
601,396 603,267 605,143 607,025 608,914 610,808
(98,863) (99,170) (99,479) (99,788) (100,098) (100,410)
(10,673) (10,673) (10,673) (10,673) (10,673) (10,673)
(15,035) (15,082) (15,129) (15,176) (15,223) (15,270)
476,826 478,342 479,863 481,389 482,919 484,455
79.29% 79.29% 79.30% 79.30% 79.31% 79.31%
(27,612) (27,698) (27,784) (27,871) (27,957) (28,044)
- - - - - -
(119,206) (119,586) (119,966) (120,347) (120,730) (121,114)
- - - - - -
- - - - - -
330,007 331,059 332,113 333,171 334,232 335,297
7.2 7.2 7.3 7.3 7.3 7.3
7.2 7.2 7.3 7.3 7.3 7.3
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - -
- - - - -
- - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
TOTAL
22,586,417
21,457,097
1,006,763
22,463,860
(536,427)
21,927,433
(3,604,616)
(832,486)
(548,186)
16,942,145
79.21%
(1,056,763)
(2,351,574)
(4,106,564)
(300,079)
(2,532,867)
6,594,297
TOTAL
(14,030,841)
(105,000)
(1,029,522)
29,783,936
(497,839)
14,120,735
TOTAL
(14,030,841)
(105,000)
(1,029,522)
29,783,936
(497,839)
-
-
7,000,000
(649,935)
-
(7,266,636)
(109,000)
-
(96,907)
12,920,934
(833,822)
(2,036,017)
(10,884,917)
(54,425)
-
(73,267)
4,884,441
(42,739)
-
(4,884,441)
(73,267)
11,920,738
TOTAL
11,920,738
(755,116)
(1,679,240)
9,486,383
4.1 RENT ROLL
SUPERFICIE E INQUILINOS
# Local Ubicación Tennat Actividad
1 4.1 Sótano -4 Vacio Karting

2 4.2 Sótano -4 Vacio Laser Combat
3 B.1 Planta Baja Vacio Comercio
8 B.6 Planta Baja Vacio Restauración
11 1.1 Planta Primera Ozone Bolera
12 1.2 Planta Primera Vacio Restauración
20 1.10 Planta Primera Doc 39 Ocio
21 1.11 Planta Primera VIPS Smart Restauración
22 1.12 Planta Primera Pause&Play Ocio
23 1.13 Planta Primera Pause&PLay Ocio
27 2.1 Planta Segunda Vacio Food Court
31 2.5 Planta Segunda Foster´s Hollywood Restauración
32 2.6 Planta Segunda Vacio Restauración
35 2.9 Planta Segunda Vacio Ocio
39 2.13 Planta Segunda Golosinas Odeon Comercio
40 2.14 Planta Segunda Vacio Ocio
42 2.16 Planta Segunda GINOS Restauración
43 2.17 (*) Odeón Cines
44 3.1 Planta Tercera Vacio Ocio
TOTAL CENTRO COMERCIAL
4.2 PLANOS NO
4.2.1 SÓTANO - 4
4.2.2 SÓTANO - 3
4.2.3 PLANTA BAJA/SÓTANO -2

4.2.4 SÓTANO - 1
4.2.5 PLANTA PRIMERA
4.2.6 PLANTA SEGUNDA

4.2.7 PLANTA TERCERA
RENTAS
Renta €/m2/mes Renta de Mercado Sobre/(Infra) Renta Contractual

SBA Terraza €/m2/mes Alquilado Mensual
1,857.30 - 1.00 1.00 - 1,857.30

1,179.30 - 1.50 1.50 - 1,768.95
59.22 - 25.00 25.00 - 1,480.50
122.88 - 18.00 18.00 - 2,211.84
60.81 - 30.00 30.00 - 1,824.30
1,068.64 - 10.00 10.00 - 10,686.40
919.96 - 10.00 10.00 - 9,199.60
22.40 - 42.00 42.00 - 940.80
75.04 - 22.00 22.00 - 1,650.88
106.62 - 20.00 20.00 - 2,132.40
1,730.53 - 6.93 6.00 13.4% 11,992.57
302.18 - 20.00 20.00 - 6,043.60
51.47 - 14.00 14.00 - 720.58
95.38 - 22.00 22.00 - 2,098.36
115.66 - 20.00 20.00 - 2,313.20
181.81 - 15.00 15.00 - 2,727.15
61.88 - 33.00 33.00 - 2,042.04
102.54 - 20.00 20.00 - 2,050.80
49.12 - 35.00 35.00 - 1,719.20
960.80 - 10.00 10.00 - 9,608.00
273.94 - 16.43 15.00 8.7% 4,500.83
340.71 - 13.00 12.00 7.7% 4,429.23
478.36 - 13.00 12.00 7.7% 6,218.68
63.57 - 33.00 33.00 - 2,097.81
182.20 - 15.00 15.00 - 2,733.00
59.08 - 33.00 33.00 - 1,949.64
28.73 - 55.00 55.00 - 1,580.15
32.49 - 55.00 55.00 - 1,786.95
47.57 - 45.00 45.00 - 2,140.65
42.22 - 48.00 48.00 - 2,026.56
320.17 33.62 16.43 12.00 27.0% 5,260.39
155.32 32.00 14.00 14.00 - 2,174.48
259.11 64.75 14.00 14.00 - 3,627.54
811.24 279.39 8.00 8.00 - 6,489.92
1,054.97 458.39 8.00 8.00 - 8,439.76
99.21 - 18.00 18.00 - 1,785.78
116.23 - 18.00 18.00 - 2,092.14
181.76 - 16.00 16.00 - 2,908.16
61.87 - 40.41 33.00 18.3% 2,500.17
99.75 - 18.00 18.00 - 1,795.50
52.01 - 45.00 45.00 - 2,340.45
279.57 60.30 16.10 15.00 6.8% 4,501.08
6,148.69 - 5.70 5.00 12.3% 35,047.53
1,153.60 - 3.00 3.00 - 3,460.80
21,465.91 928.45 8.71 8.28 5.0% 186,955.68
PLANOS NOVACENTER
RENTAS GASTOS OPERATI
Costes de
Renta Reta Variable Indexación
ERV p.a Vacio
Contractual p.a % Quarterly/Annual €/m2/mes
22,287.60 - 22,287.60 Annual 0.50

21,227.40 - 21,227.40 Annual 0.50
17,766.00 - 17,766.00 Annual 8.70
26,542.08 - 26,542.08 Annual 8.70
21,891.60 - 21,891.60 Annual 8.70
128,236.80 - 128,236.80 Annual 3.36
110,395.20 - 110,395.20 Annual 3.36
11,289.60 - 11,289.60 Annual 8.70
19,810.56 - 19,810.56 Annual 8.70
25,588.80 - 25,588.80 Annual 8.70
143,910.87 8% 143,910.87 Annual 3.00
72,523.20 - 72,523.20 Annual 4.50
8,646.96 - 8,646.96 Annual 8.70
25,180.32 - 25,180.32 Annual 8.70
27,758.40 - 27,758.40 Annual 7.33
32,725.80 - 32,725.80 Annual 7.33
24,504.48 - 24,504.48 Annual 8.70
24,609.60 - 24,609.60 Annual 7.33
20,630.40 - 20,630.40 Annual 8.70
115,296.00 6% 115,296.00 Annual 3.36
54,010.01 6% 54,010.01 Annual 6.25
53,150.76 6% 53,150.76 Annual 6.25
74,624.16 6% 74,624.16 Annual 6.25
25,173.72 - 25,173.72 Annual 8.70
32,796.00 - 32,796.00 Annual 7.33
23,395.68 - 23,395.68 Annual 8.70
18,961.80 - 18,961.80 Annual 8.70
21,443.40 - 21,443.40 Annual 8.70
25,687.80 - 25,687.80 Annual 8.70
24,318.72 - 24,318.72 Annual 8.70
63,124.72 6% 63,124.72 Annual 6.25
26,093.76 - 26,093.76 Annual 8.70
43,530.48 - 43,530.48 Annual 6.25
77,879.04 - 77,879.04 Annual 3.36
101,277.12 - 101,277.12 Annual 3.36
21,429.36 - 21,429.36 Annual 8.70
25,105.68 - 25,105.68 Annual 8.70
34,897.92 - 34,897.92 Annual 8.70
30,002.00 - 30,002.00 Annual 8.70
21,546.00 - 21,546.00 Annual 8.70
28,085.40 - 28,085.40 Annual 8.70
54,012.92 6% 54,012.92 Annual 6.25
420,570.40 - 420,570.40 Annual 2.20
41,529.60 - 41,529.60 Annual 1.50
2,243,468.12 - 2,243,468.12 Annual 3.31
4.3 DIS
USOS SOT - 4 SOT -3
Accesos y vías de evacuación 78.0 197.2
Mall - -
Terrazas Interiores - -
Terrazas Exteriores - -
Locales Comercio - -
Locales Ocio 3,036.6 -
Cines - -
Food Court - -
Locales Restauración - -
Administración/Oficinas - -
Instalaciones y Servicios 571.5 725.4
Aparcamiento 852.7 5,032.8
Subtotal por planta 4,538.7 5,955.3
Nº Plaz. Parking Interior - 216
Nº Plaz. Parking Exterior - -
Nº Plaz. Parking Total - -
Ratio Parking (m2 interior/Plaza) - -
GASTOS OPERATIVOS ALQUILERES INCENTIVOS ALQUILER
Periodo de Comisión Incentivos
Gastos no espacio Comisión
Gastos no Alquiler €/m2
recuprables vacio en Alquileres Total TIS en €
recuperables €/mes €/m2/mes Nuevo nuevos
alquiler Renovaciones
Inquilino inquilinos
(meses)
- - 6.0 16% 6% 100 185,730

- - 6.0 16% 6% 100 117,930
- - 6.0 16% 6% 100 5,922
- - 6.0 16% 6% 100 12,288
- - 6.0 16% 6% 100 6,081
- - 6.0 16% 6% 100 106,864
- - 6.0 16% 6% 100 91,996
- - 6.0 16% 6% 100 2,240
- - 6.0 16% 6% 100 7,504
- - 6.0 16% 6% 100 10,662
5,191.59 3.00 6.0 16% 6% - -
- - 6.0 16% 6% 100 30,218
- - 6.0 16% 6% 100 5,147
- - 6.0 16% 6% 100 9,538
- - 6.0 16% 6% 100 11,566
- - 6.0 16% 6% 100 18,181
- - 6.0 16% 6% 100 6,188
- - 6.0 16% 6% 100 10,254
- - 6.0 16% 6% 100 4,912
- - 6.0 16% 6% 800 768,640
1,712.13 6.25 6.0 16% 6% 400 109,576
2,129.44 6.25 6.0 16% 6% 400 136,284
2,989.75 6.25 6.0 16% 6% 400 191,344
- - 6.0 16% 6% 100 6,357
- - 6.0 16% 6% 100 18,220
- - 6.0 16% 6% 100 5,908
- - 6.0 16% 6% 100 2,873
- - 6.0 16% 6% 100 3,249
- - 6.0 16% 6% 100 4,757
- - 6.0 16% 6% 100 4,222
2,001.06 6.25 6.0 16% 6% 400 128,068
- - 6.0 16% 6% 100 15,532
- - 6.0 16% 6% 100 25,911
- - 6.0 16% 6% 100 81,124
- - 6.0 16% 6% 100 105,497
- - 6.0 16% 6% 100 9,921
- - 6.0 16% 6% 100 11,623
- - 6.0 16% 6% 100 18,176
538.27 8.70 6.0 16% 6% - -
- - 6.0 16% 6% 100 9,975
- - 6.0 16% 6% 100 5,201
1,747.31 6.25 6.0 16% 6% 400 111,828
13,527.12 2.20 6.0 16% 6% - -
- - 6.0 16% 6% 100 115,360
29,836.66 1.39 6.0 16% 6% - 2,532,867.00
DISTRIBUCIÓN DE SUPERFICIES
P BAJA/ SOT -2 SOT -1 PLANTA 1 PLANTA 2 PLANTA 3 Subtotal %
308.7 329.8 281.9 214.5 - 1,409.9 3.4%
331.4 - 1,035.6 651.1 - 2,018.1 4.9%
67.9 - - 96.2 - 164.1 0.4%
- - - 764.4 - 764.4 1.8%
2,231.5 - - - - 2,231.5 5.4%
- - 3,510.4 1,154.7 1,153.6 8,855.3 21.4%
- 1,278.5 2,312.9 2,557.3 - 6,148.7 14.9%
- - - 151.0 - 151.0 0.4%
204.1 - 1,538.8 2,274.6 - 4,017.5 9.7%
- 111.6 - - - 111.6 0.3%
567.3 620.4 51.9 51.9 - 2,588.4 6.3%
2,903.5 4,116.9 - - - 12,905.9 31.2%
6,614.3 6,457.2 8,731.5 7,915.7 1,153.6 41,366.3 100.0%
112 161 - - - 489
75 - - - - 75
- - - - - 564
- - - - - 26.4
INCENTIVOS ALQUILER Y RENT FREE OPEX
Gastos
Gastos
Incentivos Ocupación Rent Free Gastos comunes
comunes
€/m2/renovaciones Estabilizada (meses) comunes €/p.a recuperables
€/mes €/mes
- 95% - 928.65 11,143.80 928.65

- 95% - 589.65 7,075.80 589.65
- 95% - 515.21 6,182.57 515.21
- 95% - 1,069.06 12,828.67 1,069.06
- 95% - 529.05 6,348.56 529.05
- 95% - 3,590.63 43,087.56 3,590.63
- 95% - 3,091.07 37,092.79 3,091.07
- 95% - 194.88 2,338.56 194.88
- 95% - 652.85 7,834.18 652.85
- 95% - 927.59 11,131.13 927.59
- 95% - 5,191.59 62,299.08 -
- 95% - 1,359.81 16,317.72 1,359.81
- 95% - 447.79 5,373.47 447.79
- 95% - 829.81 9,957.67 829.81
- 95% - 847.79 10,173.45 847.79
- 95% - 1,332.67 15,992.01 1,332.67
- 95% - 538.36 6,460.27 538.36
- 95% - 751.62 9,019.42 751.62
- 95% - 427.34 5,128.13 427.34
- 95% - 3,228.29 38,739.46 3,228.29
- 95% - 1,712.13 20,545.50 -
- 95% - 2,129.44 25,553.25 -
- 95% - 2,989.75 35,877.00 -
- 95% - 553.06 6,636.71 553.06
- 95% - 1,335.53 16,026.31 1,335.53
- 95% - 514.00 6,167.95 514.00
- 95% - 249.95 2,999.41 249.95
- 95% - 282.66 3,391.96 282.66
- 95% - 413.86 4,966.31 413.86
- 95% - 367.31 4,407.77 367.31
- 95% - 2,001.06 24,012.75 -
- 95% - 1,351.28 16,215.41 1,351.28
- 95% - 1,619.44 19,433.25 1,619.44
- 95% - 2,725.77 32,709.20 2,725.77
- 95% - 3,544.70 42,536.39 3,544.70
- 95% - 863.13 10,357.52 863.13
- 95% - 1,011.20 12,134.41 1,011.20
- 95% - 1,581.31 18,975.74 1,581.31
- 95% - 538.27 6,459.23 -
- 95% - 867.83 10,413.90 867.83
- 95% - 452.49 5,429.84 452.49
- 95% - 1,747.31 20,967.75 -
- 95% - 13,527.12 162,325.42 -
- 95% - 1,730.40 20,764.80 1,730.40
- 95% - 71,152.67 853,832.07 41,316.01

OPEX
Gastos Gastos Comunes Gastos comunes Gastos

comunes % Gastos
no recuperables no recuperables comunes
recuperables Comunes
€/mes €/p.a €/m2/mes
€/p.a
11,143.80 - - 0.50 1.31%

7,075.80 - - 0.50 0.83%
6,182.57 - - 8.70 0.72%
12,828.67 - - 8.70 1.50%
6,348.56 - - 8.70 0.74%
43,087.56 - - 3.36 5.05%
37,092.79 - - 3.36 4.34%
2,338.56 - - 8.70 0.27%
7,834.18 - - 8.70 0.92%
11,131.13 - - 8.70 1.30%
- 5,191.59 62,299.08 3.00 7.30%
16,317.72 - - 4.50 1.91%
5,373.47 - - 8.70 0.63%
9,957.67 - - 8.70 1.17%
10,173.45 - - 7.33 1.19%
15,992.01 - - 7.33 1.87%
6,460.27 - - 8.70 0.76%
9,019.42 - - 7.33 1.06%
5,128.13 - - 8.70 0.60%
38,739.46 - - 3.36 4.54%
- 1,712.13 20,545.50 6.25 2.41%
- 2,129.44 25,553.25 6.25 2.99%
- 2,989.75 35,877.00 6.25 4.20%
6,636.71 - - 8.70 0.78%
16,026.31 - - 7.33 1.88%
6,167.95 - - 8.70 0.72%
2,999.41 - - 8.70 0.35%
3,391.96 - - 8.70 0.40%
4,966.31 - - 8.70 0.58%
4,407.77 - - 8.70 0.52%
- 2,001.06 24,012.75 6.25 2.81%
16,215.41 - - 8.70 1.90%
19,433.25 - - 6.25 2.28%
32,709.20 - - 3.36 3.83%
42,536.39 - - 3.36 4.98%
10,357.52 - - 8.70 1.21%
12,134.41 - - 8.70 1.42%
18,975.74 - - 8.70 2.22%
- 538.27 6,459.23 8.70 0.76%
10,413.90 - - 8.70 1.22%
5,429.84 - - 8.70 0.64%
- 1,747.31 20,967.75 6.25 2.46%
- 13,527.12 162,325.42 2.20 19.01%
1,730.40 - - 1.50 2.43%
476,757.70 29,836.66 358,039.97 3.31 100.00%

5 CAPEX
5.1 CAPEX OBRA
TOTAL ESTIMACIÓN
1 MEDIOS DE ELEVACION & INSTALACIONES
2 NUEVA DISTRIBUCIÓN
NUEVOS ACCESOS APARCAMIENTO
NUEVA TIENDA DEPORTES
NUEVA TIENDA ELECTRONICA
NUEVA DISTRIBUCION LOCALES PLAZA BOLERA
NUEVO SUPERMERCADO
NUEVA DISTRIBUCION LOCALES PLAZA SUPERMERCADO
NUEVOS LOCALES FOODCOURT
NUEVAS TERRAZAS FOODCOURT

NUEVOS RESTAURANTES
NUEVO LOCAL GIMNASIO
3 ACABADOS
SUSTITUCION BARANDILLAS
FALSOS TECHOS
PAVIMENTOS
ACABADOS VERTICALES
4 FACHADAS
PINTURA EN FACHADAS
DOBLE PIEL
VINILADO MURO CORTINA
MURO VERDE ARTIFICIAL
MODIFICACIÓN ACCESO
TOTEM
JARDINERAS
PAVIMENTOS
5 HONORARIOS INGENIERÍA Y ARQUITECTURA

HONORARIOS
6 PROJECT MANAGEMENT
HONORARIOS
5.2 CAPEX COMERCIALIZACIÓN
UNIT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
44
MES
nov-19
nov-19
feb-20
may-20
Total Trimestres: 3
UNIDADES LONGITUD (m)
NUEVO ASCENSOR ZONA GIMNASIO (6 PARADAS) 1

NUEVOS ASCENSORES PLAZA CINES (5 PARADAS) 2
INSTALACIONES ELÉCTRICAS Y FONTANERÍA 1
SUSTITUCIÓN ILUMINACIÓN 1
SAS ZONA GIMNASIO SOTANO 2

SAS ZONA GIMNASIO PLANTAS COMERCIAL 2
SAS PLAZA CINES SOTANO 3
PLAZA CINES PLANTAS COMERCIAL 1
DEMOLICION MALL EXISTENTE 1

NUEVA TIENDA 1
DEMOLICION TIENDAS EXISTENTES 1

NUEVA TIENDA 1
NUEVO FRENTE TIENDAS PEQUEÑAS 1
NUEVA DISTRIBUCION LOCALES 1

NUEVOS FRENTES DE TIENDA 1
CONVERSION MALL EN LOCAL 1

DEMOLICION TIENDAS EXISTENTES 1

REDISTRIBUCION MOSTRADORES FOODCOURT 1
TERRAZA ENTRADA PRINCIPAL 1

TERRAZA TRASERA 1

PLAZA BOLERA 1 66
PLAZA CINES 1 59
HUECO RESTAURANTES 1 28
PLAZA SUPERMERCADO 1
MALL PLANTA BAJA 1
MALL PLANTA ALTA 1
NUEVOS PAVIMENTOS 1
CAFÉ SUPERMERCADO 1
AREAS ESTANCIALES PLANTA BAJA 1
FOODCOURT 1
TERRAZAS RESTAURANTES 1
PULIDO Y REPARACIÓN EXISTENTES 1
VINILADO PILARES 20
ACABADO ASCENSORES CINES 1
MURO ZONA ESTANCIAL 1
VINILADO ESCALERAS MECANICAS 4
CINES 1
RESTO 1
CINES 1
ENTRADA PRINCIPAL 1
ENTRADA TRASERA 1
TOTEM 1
RESTO 1
CINES 1
ENTRADA PRINCIPAL 1
ENTRADA PRINCIPAL 1
ENTRADA PRINCIPAL 1
ESTRUCTURA TOTEM 1
JARDINERAS PERIMETRO EXTERIOR 1
PAVIMENTOS EXTERIORES HORMIGON 1

ACERAS 1
INGENIERIA 1
ARQUITECTURA TÉCNICA 1
ARQUITECTURA LICENCIAS Y EJECUCIÓN 1
EQUIPO PROJECT MANAGMENT 1

ECOOP MANAGER 1
PLANTA SBA TIS m2

Sótano -4 1,857.30 100.00
Sótano -4 1,179.30 100.00
Planta Baja 59.22 100.00
Planta Baja 1,068.64 100.00
Planta Primera 1,730.53 -
Planta Primera 302.18 100.00
Planta Segunda 28.73 100.00
Planta Segunda 1,054.97 100.00
Planta Segunda 61.87 -
(*) 6,148.69 -
Planta Tercera 1,153.60 100.00
21,465.91
CAPEX % DISPUESTO CAPEX PENDIENTE

2,532,867.00 € 0.0% 2,532,867.00 €
1,446,267.06 € 57.1% 1,086,599.94 €
886,346.16 € 35.0% 200,253.78 €
200,253.78 € 7.9% 0.00 €
2,532,867.00 € 100% 0
AREA (m2) RATIO (€/ud) TOTAL (€)
2,351,573.75 €
447,000 € OBSERVACIONES
64,000.00 € 64,000.00 € Incluye ascensores, demoliciones, refuerzos, fábrica
60,000.00 € 120,000.00 € Incluye ascensores, demoliciones, refuerzos, fábrica
78,000.00 € 78,000.00 €
185,000.00 € 185,000.00 €
469,050 €
202,500.00 €
30.00 450.00 € 27,000.00 € Incluye demolicion de acabados, nuevas peceras vid
75.00 600.00 € 90,000.00 € Incluye demolicion de escalera y acabados, refuerzo
45.00 450.00 € 60,750.00 € Incluye demolicion de acabados, nuevas peceras vid
45.00 550.00 € 24,750.00 € Incluye demolicion de estructura y acabados, refuer
25,750.00 €
215.00 50.00 € 10,750.00 € Incluye demolición de suelos, frentes de tienda e ins
1,000.00 15.00 € 15,000.00 € Incluye nueva distribución de locales, frente de tien
44,000.00 €
800.00 15.00 € 12,000.00 € Incluye nueva distribución de locales, frente de tien
20,000.00 € Incluye nuevo frente de tienda, pavimento de mall y
15,250.00 €
10,000.00 € Incluye nuevo frente de tienda y acometidas instala
21,500.00 €
2,000.00 10.00 € 20,000.00 € Incluye nueva distribución de locales, frente de tien
14,500.00 €
2,250.00 €
150.00 15.00 € 2,250.00 € Incluye nueva distribución de locales, frente de tien
81,000.00 €
60.00 1,000.00 € 60,000.00 € Incluye nueva estructura, acabados, barandillas de v
60.00 350.00 € 21,000.00 € Incluye demolición cerramiento, pavimentos y acab
24,800.00 €
37,500.00 €
2,100.00 15.00 € 31,500.00 € Incluye demolición de suelos, frentes de tienda e ins
380,665 €
58,140.00 € Incluye demolición de barandillas existentes, nuevas
380.00 € 25,080.00 €
380.00 € 22,420.00 €
380.00 € 10,640.00 €
237,500.00 € Incluye demolición de falso techo existente, pintado
300.00 125.00 € 37,500.00 €
1,000.00 125.00 € 125,000.00 €
600.00 125.00 € 75,000.00 €
37,800.00 € Incluye suelo de vinilo sobre pavimento existente y

70.00 70.00 € 4,900.00 €
50.00 70.00 € 3,500.00 €
240.00 70.00 € 16,800.00 €
180.00 70.00 € 12,600.00 €
1,875.00 15.00 € 28,125.00 € Incluye sustitución de piezas rotas con material recu
19,100.00 €
12.50 30.00 € 7,500.00 €
140.00 40.00 € 5,600.00 €
50.00 40.00 € 2,000.00 €
1,000.00 € 4,000.00 €
804,558.75 €
73,320.00 € Incluye pintura y reparación de soporte en fachadas
2,460.00 12.00 € 29,520.00 €
3,650.00 12.00 € 43,800.00 €
469,400.00 € Incluye estructura, refuerzos y nueva piel de fachad
1,044.00 200.00 € 208,800.00 €
405.00 200.00 € 81,000.00 €
150.00 200.00 € 30,000.00 €
220.00 200.00 € 44,000.00 €
528.00 200.00 € 105,600.00 €
21,838.75 € Incluye vinilado de vidrios y estructura del muro cor
210.00 50.00 € 10,500.00 €
226.78 50.00 € 11,338.75 €
9,000.00 €
75.00 120.00 € 9,000.00 €
25,000.00 € Incluye modificación muro cortina y nueva puerta d
25,000.00 € 25,000.00 €
77,000.00 €
220.00 350.00 € 77,000.00 €
36,000.00 €
1,200.00 30.00 € 36,000.00 €
93,000.00 €
2,400.00 20.00 € 48,000.00 €
900.00 50.00 € 45,000.00 €
118,300.00 €
118,300.00 €
1 1 51,000.00 €
1 1 47,800.00 €
1 1 19,500.00 €
132,000.00 €
132,000.00 €
1 1 120,000.00 €
1 1 12,000.00 €
TOTAL CAPEX
185,730.00
117,930.00
5,922.00
12,288.00
6,081.00
106,864.00
91,996.00
2,240.00
7,504.00
10,662.00
-
30,218.00
5,147.00
9,538.00
11,566.00
18,181.00
6,188.00
10,254.00
4,912.00
768,640.00
109,576.00
136,284.00
191,344.00
6,357.00
18,220.00
5,908.00
2,873.00
3,249.00
4,757.00
4,222.00
128,068.00
15,532.00
25,911.00
81,124.00
105,497.00
9,921.00
11,623.00
18,176.00
-
9,975.00
5,201.00
111,828.00
-
115,360.00
2,532,867.00
res, demoliciones, refuerzos, fábricas, acabados, etc
res, demoliciones, refuerzos, fábricas, acabados, etc
on de acabados, nuevas peceras vidrio, acabados, instalaciones, etc.

on de escalera y acabados, refuerzos, nueva escalera nuevas peceras vidrio, acabados, instalaciones, etc.
on de acabados, nuevas peceras vidrio, acabados, instalaciones, etc.
on de estructura y acabados, refuerzos, nueva escalera y estructura pasarela en planta alta, nuevas barandillas vidrio, acabados, instalacion
ón de suelos, frentes de tienda e instalaciones

stribución de locales, frente de tienda y acometidas instalaciones

ente de tienda, pavimento de mall y acometidas instalaciones

ente de tienda y acometidas instalaciones


structura, acabados, barandillas de vidrio, modificación cerramiento, instalaciones, etc

ón cerramiento, pavimentos y acabados, nuevo cerramiento, acabados, insttalaciones, barandilla de vidrio, etc.

ón de barandillas existentes, nuevas barandillas de vidrio y remates con suelos y acabados
ón de falso techo existente, pintado de fondo e instalaciones y nuevos elementos de falso techo
vinilo sobre pavimento existente y pieza de transición
ón de piezas rotas con material recuperado y pulido
y reparación de soporte en fachadas actuales
ra, refuerzos y nueva piel de fachada
de vidrios y estructura del muro cortina
ción muro cortina y nueva puerta de acceso

idrio, acabados, instalaciones, etc
6 BUDGET
Primera Estimacion Presupuesto NOVA CENTER
CONCEPTO SUBCONCEPTO
SERVICIOS
SEGURIDAD
Seguridad Ordinaria ( Vigilantes y Auxiliares)
Seguridad ( Refuerzos)
LIMPIEZA
Contrata de limpieza
Alcantarillado
Recogida de basuras
Unidades higiénicas
Bactereostáticos
Ozonizadores y Alfombras
Material Higienico
OTROS SERVICIOS
Jardinería
Gerencia
Gerencia técnica
Mantenimiento integral
ARRENDAMIENTOS Y CANONES
Oficina gerencia
CONSERVACION Y MANTENIMIENTO
Contratos
Escaleras Mecanicas
Montacargas
Ascensores
Sistema de Afluencia visitantes
Revision Escaleras Mecanicas
Revisión Alta tensión
Revisión Baja Tensión
Contador de agua
Previsiones Materia Fungible
SERVICIOS PROFESIONALES
Auditoría contable y otros
Otros servicios profesionales
PRIMAS DE SEGUROS
SERVICIOS BANCARIOS
PUBLICIDAD, MK. Y RRPP
SUMINISTROS
Consumo Agua (neto)
Consumo electricidad
Consumo Gas natural
Consumo Gas-Oil
GASTOS DE OFICINA
TRIBUTOS Y VADOS
I.B.I.
GASTOS FINANCIEROS
GASTOS EXTRAORDINARIOS
TOTAL PROPUESTA PRESUPUESTO
Fondo de Reserva ( 3% Total)
Plan Predictivo Multianual
TOTAL PROPUESTA
upuesto NOVA CENTER
BORRADOR % PARTIDA 2019

PRESUPUESTO RESPECTO PTO.
2019
409,500.00 47.96%
186,800.00 19.94%
170,000.00 18.15%
16,800.00 1.79%
120,000.00 12.81%
90,000.00 9.61%
300.00 0.03%
22,000.00 2.35%
1,500.00 0.16%
1,000.00 0.11%
1,200.00 0.13%
4,000.00 0.43%
102,700.00 10.97%
2,700.00 0.29%
60,000.00 6.41%
0.00%
40,000.00 4.27%
0.00 0.00%
0.00 0.00%
42,800.00 4.57%
32,800.00 3.50%
18,000.00 1.92%
3,788.12 0.40%
3,500.00 0.37%
3,600.00 0.38%
4,600.00 0.49%
419.00 0.04%
583.00 0.06%
9,600.00 1.02%
10,000.00 1.07%
4,769.97 0.51%
3,269.97 0.35%
1,500.00 0.16%
8,500.00 0.91%
500.00 0.05%
68,000.00 7.26%
65,000.00 6.94%
5,000.00 0.53%
60,000.00 6.41%
0.00 0.00%
250.00 0.03%
5,000.00 0.53%
4,000.00 0.43%
180,000.00 19.22%
0.00 0.00%
4,000.00 0.43%
0.00%
792,069.97 84.57%
23,762.10 2.54%
0.00%
38,000.00 4.06%
853,832.07
7 COMMERCIALIZATION
Tennat Renta €/m2

Cines Odeon 5.70
Golosinas Odeon 48.08
VIPS Smart 16.43
GINOS 16.10
Foster´s 17.18
Pause and Play 13.00
Dock 39 10.00
New Park 6.93
TOTAL TENNAT 8
TOTAL RENTA MENSUAL 84,306.03 €
TOTAL RENTA ANUAL 1,011,672.42 €
TOTAL SBA CENTRO 21,465.91
TOTAL SBA OCUPADO 10,584.77
PORCENTAJE OCUPACIÓN 49.31%
TOTAL FIT-OUT 1,445,740.00 €
TOTAL SBA VACÍO 50.69%

TOTAL SBA OCUPADO 49.31%
CONTRATOS CON CONDICIONES CERRADAS FIRMADOS/PENDIENTES DE FIRMA
Renta Mensual Renta Anual Renta Variable Gastos €/m2/mes Plazo Contrato
35,047.53 420,570.40 0% Incluidos en Renta 30 años
9,608.00 115,296.00 6% A determinar 10 años
12,000.00 144,000.00 8% A determinar 15 años
ESTADO OCUPACIÓN
0.4930967287 0.5069032713
S DE FIRMA
SBA Terraza Fit-Out €/m2 Fit-Out Total Firma Contrato
6,148.69 - - - 22-may-19
52.00 - - - Octubre
273.94 - 400.00 109,576.00 Octubre
279.57 60.37 400.00 111,828.00 Octubre
320.17 33.62 400.00 128,068.00 Octubre
819.07 - 400.00 327,628.00 Octubre
960.80 - 800.00 768,640.00 Octubre
1,730.53 - - - 10-jul-19

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NOVACENTER PROJECT FINANCIAL MODEL

Start Date nov-19

2.1 Entry/Exit Assumptions

2.2 Business Assumptions

2.3 Capex Assumptions

2.4 Financial Assumptions

Initial Senior Debt

LTV 7,000,000 49.89%

Max. Interest rate deductive 100%

Year Loan Installment Interest

EXIT YIELD VALUATION

Loan to amount 4,884,440.8

Senior Debr Ref.

Amortization Live Capital Amortized Capital

Sources & Uses

3.1 ANNUAL CASH FLOW

ANNUAL CASH FLOW

LEVERED CASH-FLOWS (PRE-TAXES)

LEVERED CASH-FLOWS (POST-TAXES)

Total Levered Cash-Flows

Levered IRR 22.18%

EXIT NOI/ % Delta to Base

nov-20 nov-21 nov-22 nov-23 nov-24

95% 95% 95% 95% 95%

nov-20 nov-21 nov-22 nov-23 nov-24

nov-20 nov-21 nov-22 nov-23 nov-24

(7,185,290) 325,794 240,416 18,539,818 -

22.18% 5.00% 5.25% 5.50%

95% 95% 95% 95% 95%

nov-25 nov-26 nov-27 nov-28 nov-29 TOTAL

Sensi Exit Yield

QUARTERLY CASH FLOW

Market Rents per SQM -

Over- / (Under-) Rented (%) -

Purchase Price (14,030,841)

Purchase Price (14,030,841)

Total Levered Cash-Flows (14,135,841)

Levered IRR 22.18%

Debt Repayment Schedule - Initial nov-19

Refi- Debt Facility nov-19

Capex - Debt nov-19

Land Value BoP (20%)

Building Value BoP (80%)

Corporate Income Tax nov-19

CGT Calcs nov-19

75% 85% 95% 95% 95%

8,835,504 (2,354,530) 115,190 354,387 315,418

feb-20 may-20 ago-20 nov-20 feb-21

feb-20 may-20 ago-20 nov-20 feb-21

feb-20 may-20 ago-20 nov-20 feb-21

feb-20 may-20 ago-20 nov-20 feb-21

2,827,168 2,827,168 2,827,168 2,827,168 2,827,168

11,308,673 11,308,673 11,308,673 11,308,673 11,308,673

feb-20 may-20 ago-20 nov-20 feb-21

feb-20 may-20 ago-20 nov-20 feb-21

may-21 ago-21 nov-21 feb-22 may-22

95% 95% 95% 95% 95%

may-21 ago-21 nov-21 feb-22 may-22

(103,720) 56,541 57,555 58,571 59,591

may-21 ago-21 nov-21 feb-22 may-22

may-21 ago-21 nov-21 feb-22 may-22

may-21 ago-21 nov-21 feb-22 may-22

may-21 ago-21 nov-21 feb-22 may-22

2,827,168 2,827,168 2,827,168 2,827,168 2,827,168