Annual report for 2024 and update on significant events after the balance sheet date

30 Apr 2025 09:41 CEST

Please see enclosed the Annual Report for 2024.


Update on events after the balance sheet date:
Axcel VI K/S, a private equity fund managed by Axcel Management A/S ("Axcel"),
and the majority shareholder of the SuperOffice Group (the "Group"), initiated a
strategic review of the Group's future ownership in 2024. As a result of this
review, Axcel prepared for a transaction involving a sale of the Group to a
newly established acquisition vehicle, Ax INV1 Holding AS, which is also
controlled by funds managed by Axcel (the "Transaction").

Following completion of the Transaction, which is subject to the satisfaction of
certain conditions precedent, the Group will remain under Axcel's control. To
partially finance the acquisition, Ax INV1 Holding AS announced in February 2025
that it had successfully placed a new senior secured bond issue of NOK 1,100
million, with a tenor of 5 years and a coupon of 3-month NIBOR + 3.75% p.a.

It was also announced that in connection with the Transaction, the Group's
existing senior secured bonds – originally issued by SuperOffice Group AS in the
nominal amount of NOK 700 million, maturing in November 2025 (ISIN NO0010900129)
– will be redeemed, subject to one or more separate call notices being issued.

On 11 March 2025 SuperOffice Group AS submitted a call notice to redeem NOK 143
million of the existing bonds at the prevailing call price of 101,366% of the
nominal value. Following this redemption, the remaining nominal balance of the
existing bonds is currently NOK 557 million.

The redemption included a portion of the Group's own previously repurchased
bonds. Before the redemption, the Group had repurchased NOK 123 million of the
existing bonds. Following the redemption, the Group holds NOK 97.873 million of
the existing bonds in nominal value.

On 17 April 2025, Ax INV1 Holding AS signed an agreement to acquire SuperOffice
Holding III AS, the ultimate Norwegian holding company in the Group. The
Transaction is expected to be completed by the end of May 2025, and the
remaining existing bonds outstanding will be redeemed in connection with
completion of the Transaction.

More information:
Access the news on Oslo Bors NewsWeb site

644894_SuperOffice_Group_AS-2024-12-31-0-en.zip
644894_SuperOffice 2024 report_en.pdf