Orange 4 ApS

The Company's principal activities The Company's principal activities consist in investment in real estate and related activities.

Development in activities and financial matters The Company's Income Statement of the financial year 1 October 2019 - 31 December 2020 shows a result of DKK 33.427.576 and the Balance Sheet at 31 December 2020 a balance sheet total of DKK 93.492.386 and an equity of DKK 43.852.376.

Expected development of the company, including specific prerequisites and uncertainties It is management's assessment that the current situation in regards to Covid-19 will have limited effect on the Company's activities, as the demand for rental housing is not highly impacted by Covid-19. Therefore management's view is that the Covid-19 crisis does not have a material impact on the Company's activities in 2021.

Uncertainties relating to recognition and measurement in the financial statements The valuation includes accounting estimates and such valuation is therefore subject to some uncertainty. Please refer to note 4, 5 and 6.

The outbreak of Covid-19 and the measures taken by governments around the world to mitigate its effects are having a major impact on the world economy.…

Uncertainties relating to recognition and measurement in the financial statements The valuation includes accounting estimates and such valuation is therefore subject to some uncertainty. Please refer to note 4, 5 and 6.

The outbreak of Covid-19 and the measures taken by governments around the world to mitigate its effects are having a major impact on the world economy.

The valuation of the company's investment property per. December 31, 2020 is based on presumptions that may be different from those that management has at the time of approval of the annual report.

The company is jointly taxed with DK Cornerstone Holdco ApS, CVR no 37 86 05 22, which acts as management company, and is jointly and severally liable with other jointly taxed group entities for payment of income taxes as well as withholding taxes on interest, royalties and dividends.

The Danish group enterprises have joined a accession agreement and all Danish group enterprises are jointly and severally liable for any and all Loans and for all other parts of the Secured Liabilities in the Danish group enterprises. The contingent liability is limited to the maximum equity of the individual companies. The Secured Liabilities is disclosed in the Annual Report for each Danish group enterprise.