• Rental income of NOK 346 million (NOK 360 million in Q1 2025), the decrease reflects ongoing redevelopment activities at Aker Brygge and Fornebu
• Annual rental income (run rate) was stable at NOK 1,459 million, but with a contracted future increase of NOK 77 million from ongoing projects and step-up rents
• Positive net lease of NOK 5 million
• Positive fair-value adjustment for investment properties of NOK 71 million
• Market value of the property portfolio of NOK 29.1 billion, an increase from NOK 28.9 billion last quarter
• Profit for the period of NOK 88 million (NOK 186 million same quarter last year), with earnings per share (EPS) of NOK 0.08 (NOK 0.28 last year)
• Scope Ratings assigned Norwegian Property a BBB– credit rating with a Stable Outlook, and the company’s bank loan agreements were amended to allow SEK‑denominated loans as well as NOK

Haavard Rønning, Acting CEO, says about the quarter:

“We are pleased to have delivered positive net lease in the quarter, which confirms our impression that demand for our premises has been strong. We are also seeing further increases in activity and interest in our core areas, and therefore have good reason to believe that several of the leasing processes we are working on will contribute to higher future rental income.

Progress on our ongoing projects is proceeding according to plan, and we are optimistic about the increased rent and the long-term value creation they will contribute to.

The company’s financial flexibility has improved through the amendment of the loan agreements into multi-currency facilities. This gives us an opportunity to hedge the SEK currency exposure in the long-term asset in Fabege shares. In addition, Scope has upgraded our BBB– credit rating to a Stable Outlook.”

For further information, please contact:

Haavard Rønning, Acting CEO and CFO, mob. +47 400 200 19, e-mail: hr@npro.no

This information is subject of the disclosure requirements according to §5-12 of the Norwegian Securities Trading Act (‘Verdipapirhandelloven’).