The valuation experts have conducted an in-depth review of the company's real estate assets, the ongoing operations at Boho Club, and the progress made in the planning process with the municipality of Marbella. Several established valuation methods have been used in the valuation, all of which point to the same value level, which strengthens the reliability of the concluded values.

Unlike a classic RICS valuation, which is mainly based on current legal and commercial conditions, this valuation has also taken into account future business potential and the development opportunities that are now emerging through the ongoing planning work. This includes the process of achieving a building capacity of 28,400 m², as communicated by the municipality of Marbella on November 12, 2025, which in turn changes the long-term value profile of Boho Group's land and operations on the Golden Mile.

CEO Andreas Bonnier comments:
"We are pleased to see that all the hard work inversted in developing our plots is creating value. We have land on which we will be able to develop the last substantial hotel project on the Golden Mile in Marbella – the most sought-after location in both Marbella and the entire Costa del Sol. After that, there will be no more locations left on the Golden Mile. This makes our plots and our development potential completely unique, and that uniqueness in itself creates significant value."

Boho Group sees the independent valuation as a key milestone in the company's continued development and confirmation of the long-term potential of both its land and its operations.

The valuation was carried out by GEVASA, an accredited valuation company that has been under the supervision of the Spanish Central Bank since 1989, and Guiomar Otero, a market economist affiliated with the Madrid Economist Professional Association, specializing in real estate transactions.