REPORT FOR Q4 AND PRELIMINARY RESULTS FOR 2022

16 Feb 2023 07:30 CET

The highlights of the report:

The Group posted another good operating result in Q4 with profit before tax,
fair value adjustments and currency result amounting to NOK 507 (531) million

Following downward adjustment of the value of the Group’s property portfolio by
NOK 1,183 million, profit before tax in Q4 was NOK -796 (2,077) million

The Group’s preliminary profit before tax for 2022 amounted to NOK 3,138 (4,767)
million

The Group’s financial position is solid, and the Group’s equity ratio at year
end was 52% (51%), while its liquidity reserves were NOK 5,119 (8,214) million

Retail sales in the shopping centre portfolio in Q4 were NOK 17,343 million, up
1% on Q4 2021, but up 13% on Q4 in 2019, the last normal year before the
pandemic

An agreement was signed in Q4 regarding the acquisition of 50% of the
Sørlandssenteret shopping centre in the Municipality of Kristiansand. Following
the takeover in January 2023, Olav Thon Eiendomsselskap is the sole owner of
Sørlandssenteret

The Board proposes that a dividend of NOK 6.5 (6.50) per share be paid for 2022

For Olav Thon Eiendomsselskap ASA
Arne B. Sperre
Executive Vice President and CFO
Tel: + 47 926 97 622

More information:
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582600_OTE Q4 22-English.pdf