DaeShin Value REITs Audit Report: Unqualified Opinion, Stable Financials and High Dividend

Audit Opinion: Unqualified (compliant with K-IFRS)
Key Audit Matter: Existence of subsidiary investment verified (97.6% of total assets of KRW 296.8 billion)
Financial Position: No debt ratio calculated (net debt negative KRW 1.93 billion, total liabilities KRW 65 million), no borrowings
Profitability: Net income KRW 4.36 billion (prior period KRW 4.40 billion), dividends paid KRW 4.37 billion (KRW 73 per share, dividend yield 14.63%)
Operating Cash Flow: KRW 4.33 billion (dividend income KRW 4.43 billion)
Major Assets: Equity in subsidiary KRW 289.8 billion, cash and short-term financial instruments KRW 7.0 billion
Related Party Transactions: Asset management fees and dividends with Daishin Securities and others