Audited annual financial report 2019

29 May 2020

BCRE - Brack Capital Real Estate Investments N.V.

("BCRE" or the "Company")

Audited annual financial report 2019

Further to the announcements on 22 April 2020 and 5 May 2020, the Company hereby announces that due to further difficulties caused by COVID-19 and pursuant to article 8 of the "Temporary act COVID-19 Justice and Security" (Tijdelijke wet COVID-19 Justitie en Veiligheid), the approval of the Company's audited annual financial report for the year ended 31 December 2019 by the Company's Board of Directors is extended until the next Annual General Meeting of the Shareholders which will be called on a short notice.

The pandemic outbreak and the ordering of all construction activities to be stopped in Manhattan, strongly affected the development of the business. Therefore, it is difficult at this stage to assess how the negative impact of the pandemic outbreak will affect the business in Manhattan.

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About BCRE

BCRE is an international real estate development and investment group, headquartered in the Netherlands and listed on the Cyprus Stock Exchange. Through its subsidiary and associated undertakings, the Company is interested in, develops and operates and international portfolio of real estate assets in the markets it operates.

The Company has established local management team platforms with significant local market expertise. At present, the Company has offices and teams in New York, Moscow, Amsterdam and Limassol.