CEO LEAVES NORWEGIAN PROPERTY

Svein Hov Skjelle has communicated to the Board of Directors in Norwegian Property that he intends to leave the position as CEO. Skjelle has agreed with the Board of Directors that he will leave the position at the latest in December 2017. The board will immediately start the recruitment of a successor as CEO.

-      Svein Hov Skjelle has made strong contributions to the development of Norwegian Property over many years, the last two years as CEO of the company. We are thankful for his continued hard efforts to strengthen the position of Norwegian Property, says Chair Martin Mæland.

-      With the exception of a period in 2009 and 2010, I have been working for Norwegian Property since 2006. There have been many interesting challenges in a company constantly changing. Norwegian Property is now a focused real estate company with high quality assets and a strong balance sheet. It is therefore a good time for seeking new challenges, says Svein Hov Skjelle

Contact:

Chair of the Board of Directors, Martin Mæland, phone +47 907 910 79

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 14.3 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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