Notification: Revised TRS agreement

CEK AS and Carucel Holding AS, companies controlled by Carl Erik Krefting who is a board member of Norwegian Property ASA ("NPRO"), has on the 8th of September 2020 sold 762 801 shares in NPRO at a price equal to NOK 11.30 per share.

Carucel Holding AS has on the same date agreed a revised TRS agreement with Danske Bank which includes 762,801 shares in NPRO in addition to the 3,500,000 shares already comprised by a TRS arrangement, in total 4,262,801 shares (the "TRS Agreement"). Pursuant to the TRS Agreement the exercise price is NOK 11,30 per share and the termination date is 22.01.2021.

Following the transaction, companies controlled by Carl Erik Krefting hold through financial instruments rights to 4,262,801 shares in NPRO and own no shares in NPRO. In addition, Carl Erik Krefting has options which must be exercised on or prior to 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. Further disclosure of the option details has been made in NPRO's Annual Report.