NPRO: NEW LEASE CONTRACTS FOR SNARØYVEIEN 36

Norwegian Property has signed two new lease contracts for a total of 11,700 sqm in Fornebu WORKS (Snarøyveien 36) at Fornebu. The lease agreement with Broadnet AS comprises 8,200 sqm and has a duration of 5.5 years. The lease will start medio 2019. NOV Process & Flow Technologies AS (NOV) is subletting premises in the building from Akastor Real Estate AS (Akastor) today. NOV will rent 3 500 sqm for 3 years starting end of 2019, when our rental agreement with Akastor expires.

Snarøyveien 36 was designed by architect Niels Torp and was completed in 2007.

"We are very pleased that existing and new tenants choose our building at Fornebu. This confirms a success for our process of transforming the building from a single tenant building to a multi-tenant building. Our concept, Fornebu WORKS, which we are developing in Snarøyveien 36, is proving competitive and attractive for both large and medium-sized companies with high standards of quality and cost-effectiveness. The preliminary results give us additional motivation to continue the targeted work across all our business departments to further develop both the concept and the building for the future", says Norwegian Property’s CEO Bent Oustad.

For additional information, please contact:

Bent Oustad, CEO
Telephone: +47 48 01 60 82
Email: bo@npro.no

or

Ellen Kobro, EVP Sales and Marketing
Telephone: +47 952 92 478
Email: EK@npro.no

This information is subject of the disclosure requirements according to §5-12 of the Norwegian Securities Trading Act (’Verdipapirhandelloven’).

Norwegian Property is a focused and fully integrated office property company with 32 properties located in the Oslo area and Stavanger in Norway. The portfolio, which has a total fair value of NOK 15.4 billion, is characterized by central location and attractive premises high quality tenants. The group’s properties consist largely of office premises, associated warehousing and car parking, as well as retail and catering space. The company has identified four value drivers for long-term value creation; Marketing & letting, Property management, Property development and Transactions & finance.

Norwegian Property is listed on Oslo Stock Exchange with the ticker NPRO.

www.npro.no

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