BNP Valuation Report

Instone has commissioned an independent appraisal of its entire project portfolio carried out by BNP Paribas Real Estate Consult GmbH as of 31 March 2022. The report implies reported book values of inventories and contract assets include hidden reserves of around EUR 113 million. Accordingly, as of 31 March 2022 Instone EPRA NTA per share amounts to EUR 14.21. On the basis of its inventories, Instone is able to generate significant added value through its development activities.

Please find a summary of the report here:

BNP Valuation Report | PDF