SWEF: January 2023 NAV (1562111)

Starwood European Real Estate Finance Ltd (SWEF) SWEF: January 2023 NAV 17-Feb-2023 / 07:00 GMT/BST Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

----------------------------------------------------------------------------------------------------------------------- Starwood European Real Estate Finance Limited (the "Company") (Ticker: "SWEF")

Net Asset Value, 31 January 2023

This announcement contains price sensitive information.

As at the close of business on 31 January 2023 the unaudited net asset value (NAV) of the Company's Ordinary Shares was 104.58p (31 December 2022: 105.20p). Please refer to the Reconciliation of NAV per share movements below for more information.

Net Asset Value in total

Loans advanced                                         GBP426.4m 
Cash and cash equivalents                              GBP6.3m 
Financial assets at fair value through profit or loss  GBP2.1m 
Borrowing facilities (including accrued interest)       (GBP15.0m) 
Other net assets/(liabilities)                         (GBP6.1m) 
Net assets                                             GBP413.7m

Capital amounts drawn as at 31 January 2023 and amounts committed but undrawn as at 31 January 2023 is shown below.

                                Local Currency Sterling (2) 
Amounts drawn GBPm (1)            GBP269.2m        GBP269.2m 
Amounts drawn EURm (1)            EUR172.2m        GBP151.9m 
                                               GBP421.1m 
Committed but undrawn Loans GBPm  GBP46.2m         GBP46.2m 
Committed but undrawn Loans EURm  EUR3.0m          GBP2.7m 
                                               GBP48.9m

(1) The balances shown corresponds to cash advanced.

(2) Euro amounts drawn and commitments converted at the month end spot rate.

The difference between amounts drawn in the table above and "Loans advanced" in the first table is accrued income.

Reconciliation of NAV per share movements for the month ended 31 January 2023:

                                                   January 2023 (pence) 
NAV at the beginning of period                     105.20 
      Operating Income available to distribute (3) 0.65 
      Unrealised FX gains / (losses) (4)               0.11 
      Dividend declared                            (1.38) 
NAV at the end of the period                       104.58

(3) Operating Income available to distribute comprises loan income recognised in the period less the cost of debt facilities utilised by the Group and operating costs incurred. The Operating Income available to distribute also includes any realised foreign exchange gains or losses upon settlement of hedges.

(4) Unrealised foreign exchange gain/losses relate to the net impact of changes in the valuation of foreign exchange hedges and the sterling equivalent value of Euro loan investments (using the applicable month end rate). Mis-matches between the hedge valuations and the loan investments may occur depending on the shape of the forward FX curve and this causes some movement in the NAV. These unrealised FX gains / losses are not considered part of distributable reserves.

All figures herein are published based on current information, estimates and judgements. Enquiries:

Apex Fund and Corporate Services (Guernsey) Limited as Company Secretary

Duke Le Prevost

T: +44 203 5303 630

E: starwood@apexfs.com

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ISIN:           GG00B79WC100 
Category Code:  NAV 
TIDM:           SWEF 
LEI Code:       5493004YMVUQ9Z7JGZ50 
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State 
Sequence No.:   223835 
EQS News ID:    1562111 
 
End of Announcement  EQS News Service 
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February 17, 2023 02:00 ET (07:00 GMT)

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