Subsequent to the announcement by SEDCO Capital that was published on 21 / 06 / 2020 regarding material developments to SEDCO Capital REIT Fund in relation to the effects of COVID-19 precautionary measures, in which the Fund Manager disclosed receiving requests from multiple tenants to suspend and/or temporarily reduce rent payments amid the recent developments associated with the COVID-19 pandemic. SEDCO Capital, in its capacity as the Fund Manager of SEDCO Capital REIT Fund, wishes to disclose and clarify the outcomes of the negotiations with the tenants affected by COVID-19 precautionary measures.

SEDCO Capital REIT Fund Board has recently approved a discount policy in order to deal with such requests in a manner that protects the interests of both unitholders and tenants. The policy focuses on analyzing the sector to which the tenant belongs, estimates a timeframe and sets the parameters for negotiations.

Based on the approved discount policy, the Fund Manager negotiated with the affected tenants and the outcome was as follows: the total value of discounts granted to affected tenants represents approximately 9.87% of the Fund’s total annual rental income, which it is expected to negatively impact 2020 dividends distributions.

Out of the Fund Manager’s keenness to generate regular income inline with Fund’s terms and conditions, the Fund Manager has adopted some initiatives in conjunction with the aforementioned discount policy in order to maintain the level of liquidity and mitigate the negative impact of the pandemic such as, reducing the financing fee and improving the Fund’s operational performance.

The abovementioned values do not consider any future unforeseeable developments. The Fund Manager will keep monitoring the situation and will announce about any material development on its website the Exchange’s.