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

Net Asset Value, 30 November 2021

This announcement contains price sensitive information.

As at the close of business on 30 November 2021, the unaudited cum-dividend net asset value of the Company's Ordinary Shares was 102.39p (31 October 2021: ex-dividend (3) 102.28p / cum- dividend - 103.65p).

Capital amounts drawn as at 30 November 2021 and amounts committed but undrawn as at 30 November 2021 is shown below.

(1) The balances shown corresponds to cash advanced.

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

(3) The ex-dividend date is 4 November 2021. The dividend was paid on 3 December 2021.

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

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

Enquiries:

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

Magdala Mullegadoo

T: +44 (0) 203 5303 661

E: [email protected]