NPRO: Run rate exceeds 1 billion, 70% of the office portfolio is environmentally classified and solid development of the company's EPRA NRV

Norwegian Property presents the results for Q4 and full year 2021 on February 4 at 08:30 CET. The presentation will be held in the restaurant in 5th floor in Kaibygg I, entrance from Bryggegata 6 at Aker Brygge. It will also be possible to follow the presentation on the webcast: https://channel.royalcast.com/landingpage/hegnarmedia/20220204_1/

The presentation will be held in Norwegian.

Net profit for the fourth quarter was NOK 736.5 million after the positive fair-value adjustments for investment properties and interest-rate-derivatives. That meant fourth-quarter earnings per share (EPS) were NOK 1.14. Accordingly, the 2021 full year profit was NOK 1 573.1 million and EPS were NOK 2.44.

The book value of equity per share at 31 December 2020 was NOK 19.95, and EPRA NRV was NOK 25.17 per share.

Bent Oustad, CEO, comments on the quarter: "It is gratifying to register that our annual run rate again exceeds NOK 1 billion. The last time this happened was in 2011, and in the meantime, we have been down to NOK 672 million in Q1-2019.

Two more office buildings in our portfolio, Fondbygget and Kaibygg 1 at Aker Brygge, have been "BREEAM in use" certified as "Very Good". In total, 70% of our office properties are now classified with a rating of "Very Good" or "Excellent". Our ambition is to classify all office buildings by 2025.

We have also held an architectural competition related to possible new construction in Gjerdrums vei 1-5, and the zoning process for these properties has been initiated. Our ambition in 2022 is to further refine the utilization potential of existing properties in the portfolio, and in the long term to carry out zoning processes for additional new buildings that will contribute to value creation.

We are also pleased with the strategic investment in Nordr. The sale of homes in January 2022 alone exceeded NOK 1 billion, and both the company and the organization are equipped for further growth. This fits in well with our ambitions for ownership."

For further information, please contact:

Bent Oustad, CEO, mob: +47 4801 6082, e-mail: bo@npro.no

Haavard Rønning, 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