Notification regarding TRS-agreement

Carucel Holding AS, a company controlled by Carl Erik Krefting, a board member in Norwegian Property ASA (NPRO) has had rights related to 4,262,801 shares in NPRO through a TRS agreement. Pursuant to the TRS agreement the exercise price is NOK 11.30 per share and the termination date is 22.01.2021. In an internal restructuring of the Carucel-group, the TRS agreement with all rights and obligations related thereto have today been transferred to Carucel Invest AS, also a company controlled by Krefting, at cost/book values. Following the transaction Carucel Invest AS will have rights related to 4,262,801 shares through the TRS agreement and will continue to own 356,664 shares, in aggregate equal to 0.71% of the share capital of NPRO. In addition Krefting has options which need to be exercised within 19 October 2021 for subscription of 500,000 shares in NPRO as follows: 333,333 of the options are exercisable, while the remaining 166,667 options will be exercisable from 1 January 2021.