Company Alpha Pyrenees Trust Limited

Alpha Pyrenees Trust Limited (the Trust) is a Guernsey-based closed-ended investment company. The Trust carries on the business of a property investment company and invests in commercial property in France and Spain. The Trust invests in higher-yielding properties in France, particularly in the Ile-de-France region around Paris, focusing on commercial property in the office, industrial, logistics and retail sectors let to tenants with strong covenants. The properties at Saint Cyr L'Ecole, Champs sur Marne and Ivry-surSeine in France and Alcala de Guadaira, Ecija and Zaragoza in Spain are held for sale. The Trust has subsidiary operations in Luxembourg, Belgium, France and Spain. Alpha Real Capital LLP is the investment manager of the Trust. The Trust's investment properties are held by its subsidiary undertakings, including Alpha Pyrenees Luxembourg SARL, Alpha Pyrenees Luxembourg No 2 SARL, Alpha Pyrenees Belgium SA, Alpha Pyrenees Evreux SARL and Alpha Pyrenees Athis Mons SARL.