Earnings impact of the successful listing of PPI on the Oslo Stock Exchange

Samhällsbyggnadsbolaget i Norden AB's (publ) ("SBB") associated company Public Property Invest AS ("PPI") has today been successfully listed on the Oslo Stock Exchange. The listing improved PPI's access to the capital market and is thus an important part of SBB's strategy to strengthen the group's financial position and maximise shareholder value over time. In connection with the listing, SBB transfers parts of its Norwegian portfolio to PPI.

''The listing of PPI is an important milestone in the strategic transformation that SBB is undertaking to create a decentralised group structure with portfolio companies that can finance themselves independently. PPI will now have better access to equity and credit markets, strengthening the overall financial position and flexibility for SBB. We are purchasing additional shares in connection with the listing and look forward to supporting PPI as a long-term owner and partner", says Leiv Synnes, CEO of SBB.

In order to ensure that PPI achieves sufficient financial scale in its property portfolio, SBB has, in connection with the listing, sold properties with a book value of SEK 1.7 billion in exchange for 31.6 million shares in PPI. SBB has also purchased an additional 11.7 million shares in the IPO at a price of NOK 14.5 per share.

SBB owned 44.8 percent of the shares in PPI before the transaction and will, depending on the outcome of the greenshoe option, own 33.71-36.26 percent of the shares in PPI after the transaction, which is preliminarily estimated to have an effect on earnings of SEK -0.6 billion, after reversal of deferred tax of SEK 0.1 billion. The final outcome of the transaction will be reported in the second quarter report 2024.

In connection with the transaction, SBB's Norwegian management organisation will be transferred to PPI and SBB will simultaneously sign a management agreement with PPI for its remaining portfolio.

For further information, please contact:
Helena Lindahl, Treasury Director, ir@sbbnorden.se, press@sbbnorden.se

This information is such that Samhällsbyggnadsbolaget i Norden AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted by the above contact persons for publication on 29 April 2024 kl. 09:00 CEST.

Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) is the Nordic region’s leading property company in social infrastructure. The Company’s strategy is to long term own and manage social infrastructure properties in the Nordics and rent regulated residential properties in Sweden, and to actively work with property development. Through SBB’s commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the Company an attractive long-term partner. The Company’s series B shares (ticker SBB B) and D shares (ticker SBB D) are listed on Nasdaq Stockholm, Large Cap. Further information about SBB is available at www.sbbnorden.se.