KMC Properties ASA

Board/Management Information • Jul 11, 2024

KMC PROPERTIES ASA – AMENDMENTS TO THE BOARD OF DIRECTORS

KMC PROPERTIES ASA – AMENDMENTS TO THE BOARD OF DIRECTORS

Oslo, 11 July 2024: The Board of Directors (the "Board") of KMC Properties ASA ("KMCP" or the "Company") has been informed by Morten E. Astrup that he has decided to resign from the Board.

"Following 16 eventful years, I have today decided to withdraw from the board of directors of KMC Properties as the assets of the Company have been sold to Logistea in consideration for shares that will subsequently be distributed to the Company's shareholders.

With a solid order backlog, the combined company stands out as one of a few property companies in the Nordics that can withstand today's high floating interest rate levels and at the same time does not have a dominant owner holding a majority of the voting shares, as most comparable Swedish real estate companies do. This is an important reason why SurfSide Holding has agreed to receive shares in Logistea, which will probably be a more liquid investment than the shares in KMC Properties prior to the transaction" says Morten E. Astrup.

"We are grateful for all the valuable contributions made by Morten E. Astrup during all his years on the Board. His long-term views, analytic approach and focus have been highly appreciated by the Board" says Bjørnar André Ulstein, chair of the Board.

Following Morten E. Astrup's resignation from the Board, the Board will comprise of Bjørnar André Ulstein (chair), Hege Buer, Marianne Bekken, Mia Arnhult and Jonas Grandér.

For additional information, please contact:

Stig Wærnes

+47 915 66 386

stig.warnes@kmcp.no

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.