NPRO: 2Q 2024 - New lease contract at Fornebu in Snarøyveien 30

04 Jul 2025 13:30 CEST

· Revenues for the second quarter were MNOK 359, an increase from MNOK 354 in
the same quarter last year.
· Operating profit before value adjustments and JVs was MNOK 294 for the
second quarter. Unchanged from the same quarter last year.
· Profit before income tax and value adjustments was MNOK 88.9 for the second
quarter.
· Positive fair-value adjustments for the properties of NOK 137 million
· The net profit was NOK 182 million for the second quarter, which corresponds
to an earnings per share (EPS) of NOK 0.27.
· EPRA NRV (Long-term net reinstatement value) is NOK 21.51 per share.

Bent Oustad, CEO, says about the quarter:

"We have signed a new lease contract for 8 250 square meters with a tenant in
the education sector at Snarøyveien 30 at Fornebu. The agreement is subject to
an approved change of purpose. The work on refurbishing the premises will begin
in Q3 2027. We are very satisfied to attract different types of tenants to our
properties at Fornebu. We are finishing another quarter where we signed lease
contracts in all three of our core areas at good rental levels. On average, the
renegotiations of leases in the last quarter have had an increase in rent just
above 10%. This shows that we have attractive properties to offer the market, at
the same time the areas attract new potential tenants.

We also see a healthy financing market with good liquidity in different
financial sources. The credit margins are dropping slightly, which will be
incorporated in our financing costs in the following quarters. NPRO has entered
into new agreements in both the banking market and the bond market during the
quarter. We have credit facilities in place that cover all maturities in bond
loans for 2025."

Webcast with presentation in Norwegian of the results is available
here: https://channel.royalcast.com/landingpage/hegnarmedia/20250704_2/ (https:/
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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 to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

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

More information:
Access the news on Oslo Bors NewsWeb site

650742_2025_06_30_NPRO_2Q_2025_presentation.pdf
650742_2025_06_30_NPRO_Interim_Report.pdf