Baltic Sea Properties agrees terms with Rhenus Group for expansion project of apx. 17 255 sqm

22 Aug 2023 20:50 CEST

Oslo, 22nd of August 2023, 20:50 CEST. Baltic Sea Properties AS ("BALT" or "the
Company", and together with the Company's subsidiaries, "BSP") has today signed
a binding agreement with its largest tenant Rhenus Logistics regarding expansion
of the existing logistic terminal.

The expansion project consists of a new 17 255 sqm logistic terminal including
cross docking area of approx. 4 800 sqm. The property will be certified in
accordance with the sustainability rating scheme BREEAM and a photovoltaic cell
facility will be installed on the roof of the expanded area. Total project cost
is estimated to be around MEUR 15,0 (apx. MNOK 170). Estimated handover of the
expansion is in the second or third quarter of 2025.

The terms of the agreement include a 15-year lease for both the existing and new
area starting from expected handover in 2025.

Upon completion, the over 35 600-square-meter facility will become one of the
Baltic region’s leading logistics centers.

“Rhenus Logistics Group is a valued and very important client to Baltic Sea
Properties, and this expansion is a testament to how well we work together” says
Lars Christian Berger; CEO of Baltic Sea Properties. “It is an integral part of
our strategy to grow with our tenants and offer expansion opportunities when
their needs change. I also want to express my delight with our team who has
worked very hard over a long period of time to get to this point.”


For more information, please contact:

Lars Christian Berger
CEO
Phone: +47 930 94 319
Lcb@balticsea.no

Baltic Sea Properties is an open-ended and fully integrated real estate
investment company. The company is among the Baltics’ leading real estate
investors and developers – owning a diversified cash flow generating portfolio
of modern real estate in the logistics, industrial and commercial segments.

Company website: balticsea.no

The information in this announcement constitutes inside information under the EU
Market Abuse Regulation (MAR) and is subject to disclosure requirements under
the Euronext Growth listing rules.

This stock exchange announcement is published by Espen Aas, Investor Relations
of Baltic Sea Properties AS at the time specified in the message.

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