Self Storage Group ASA - Acquisition of new property in Oslo, Norway

(Oslo, 4 February 2020) Self Storage Group ASA (Self Storage Group, OSE: SSG or the "Company") has entered into an agreement with Wessel-Invest AS to acquire Ulven P28 AS (the "Target"). The Target is the owner of Persveien 28 Ulven, Oslo.

The transaction has a property value of approx NOK 47 million. The property value is payable on closing of the transaction in shares of SSG. The consideration shares shall be issued at a subscription price equal to a ten day weighted average quoted price prior to signing of the agreement, being NOK 27.47 per share. The property value shall subsequently be adjusted for cash and debt at closing. Closing of the transaction is subject to ordinary conditions, including confirmation of waiver of certain redemption rights pertaining to the property.

The property has a gross area of approx. 4,000 square meters, and is centrally located at Ulven in Oslo, in close proximity to the main thoroughfare E6. This acquisition is fully in line with SSGs strategy to grow its freehold portfolio in selected markets in order to capitalize on the Company's view that urbanization and smaller living spaces, particularly in the larger cities, will continue to cause an increasing need for external storage solutions.

For additional information, please contact:

Cecilie Brænd Hekneby, CFO, +47 99 29 38 26

About Self Storage Group|www.selfstoragegroup.no

Self Storage Group ASA engages in the business of renting out self-storage units to both private individuals and businesses through the two concepts; OK Minilager and City Self-Storage. The company is one of the leading self-storage providers in Scandinavia with a particularly strong position in the Norwegian market. As of Q3 2019 Self Storage Group operates 110 sites across Scandinavia with a current lettable area of 134 900 square meters.