NPRO: 2Q 2026 – Strong letting quarter with the signing of several large lease contracts

• We have signed new lease contracts amounting to NOK 84 million and extended lease contracts for a total of NOK 124 million
• Positive net letting of NOK 28 million, reduced vacancy to 8.3% and extended weighted average unexpired lease term (WAULT) to 7.4 years
• Negative fair value adjustment for investment properties of NOK 478 million (1.6 per cent), driven by higher yield requirements in valuations
• Share of profit from associates and joint ventures was NOK 55 million (loss of NOK 14 million last year)
• Profit/loss for the period was negative at NOK 280 million (profit of NOK 182 million last year), with earnings per share (EPS) of NOK -0.24 (NOK 0.27 last year)

Ellen Cathrine Kobro (Deputy CEO, Market and commercial activities) comments on letting this quarter: 
“We have experienced very high activity in the leasing market. NPRO has signed several large lease contracts across all three core areas in which we are represented: the CBD, Fornebu and Nydalen. We have secured long-term contracts with Norsk Luftambulanse in the city centre and Statnett in Nydalen. In addition, I would like to highlight the renegotiation with Telenor and the signing of Abel as key elements in the further development of Snarøyveien 30. We are very positive about the future of this area. 
Many people across the organisation have contributed to net letting of NOK 28 million in the quarter. The results support the strength of both the portfolio and the organisation, and our ability to deliver through strong cross-functional collaboration.”

Haavard Rønning (Acting CEO and CFO) comments:
“The company has issued five new bonds with maturities of three and five years, totalling NOK 2,000 million. Furthermore, the company has extended and refinanced facilities in the bank market, as well as established new credit lines of SEK 2,000 million. We refinanced NOK 2,685 million during the quarter, and greatly appreciate the confidence shown by investors and banks, who have contributed to successful financing transactions.”

For further information, please contact: 
Haavard Rønning, Acting CEO and CFO, mob. +47 400 200 19, e-mail: hr@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 properties located mainly in the Oslo area in Norway. The portfolio is characterized by central location and attractive premises with 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.

www.npro.no