Asset Buyout Partners Annual Report 2020

Notes to the Consolidated Financial Statements Note 1 General information Asset Buyout Partners Invest AS (“ABP”, “the Company” or “the Group”) is an industrial real estate company with a dedicated investment strategy aimed towards real estate and infrastructure assets located in Norwegian energy and maritime clusters. Asset Buyout Partners Invest AS is the parent company of the real estate group ABP, and the parent company of these financial statements. Asset Buyout Partners Invest AS is a limited liability company registered in Norway. The head office of the Group is located in Olav Vs gate 1, Oslo, Norway. The Group holds a portfolio of investment properties in Norway. This year’s consolidated financial statements were approved for issue by the Board of Directors on 20 January 2021. The ultimate holding company for the Group is HV VII Invest Lagus AS. Note 2 Accounting Principles 2.1. General 2.2. Changes in accounting principles 2.3. Consolidation 2.4. Segment reporting 2.5. Classification of assets and debt 2.6. Impairment 2.7. Investment property 2.8. Leases 2.9. Financial instruments 2.10. Share Capital 2.11. Current and deferred income tax 2.12. Provisions 2.13. Revenue recognition 2.14. Property related expenses and other expenses 2.15. Interest income 2.16. Empolyee benefits 2.17. Dividend distribution 2.1. General These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU, and additional disclosure requirements listed in the Norwegian Accounting Act as of 31 December 2020. The consolidated financial statements have been prepared under the historical cost convention, with the following exceptions: · Investment properties are measured at fair value · Financial derivatives are measured at fair value with changes through profit and loss The consolidated financial statements have been prepared with consistent accounting principles for similar transactions and events. The consolidated financial statements provide comparative information in respect of the previous period that has been prepared based on the same accounting principles. The consolidated financial statements are presented in Norwegian Kroner (NOK), which is the functional currency for the parent company, as well as all the group companies. 2.2. Changes in accounting principles a) New standards, interpretations and amendments effective from 1 January 2020 The group has applied the following standards and amendments for the first time for their annual reporting period commencing 1 January 2020: · Definition of Material – amendments to IAS 1 and IAS 8 · Definition of a Business – amendments to IFRS 3 · Interest Rate Benchmark Reform – amendments to IFRS 9, IAS 39 and IFRS 7 · Revised Conceptual Framework for Financial Reporting The amendments listed above did not have any impact on the amounts recognized in prior periods and are not expected to significantly affect the current or future periods. b) New standards, interpretations and amendments not yet effective Certain new accounting standards and interpretations have been published that are not mandatory for 31 December 2020 Asset Buyout Partners | Annual Report 2020 20

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