Entra

Earnings Release • Apr 25, 2023

Q1-23: Solid letting and income development

Q1-23: Solid letting and income development

25.4.2023 07:00:01 CEST | Entra ASA | Additional regulated information required

to be disclosed under the laws of a member state

Oslo, 25 April 2023 - Rental income was up by 12 per cent to 872 million in Q1

2023 compared to 781 million in Q1 2022. Net income from property management was

impacted by higher financing costs and came in at 391 million (433 million) in

the quarter. Net value changes were -451 million (3,146 million) in the quarter

and profit before tax was -70 million (3,583 million).

Entra has signed new and renegotiated leases with annual rent totalling 103

million (39,800 sqm) in the quarter. As of 31.03.23 the portfolio occupancy was

96.0 per cent (97.3 per cent) and the average unexpired lease term of contracts

was 6.3 (6.6) years.

During the quarter, Entra sold the property Grønland 32 in Drammen for NOK 335

million which was 18 % above book values as of 31.12.22 and prepared for start

of a new-build project of 2,750 sqm in Malmskriverveien 18 in Sandvika.

(NOK million) | Q1-23 | Q1-22 | 2022

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Rental income | 872 | 781 | 3,158

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Net operating income | 798 | 717 | 2,895

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Net income from property management | 391 | 433 | 1,603

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Net value changes | -451 | 3,146 | -2,046

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Profit/loss before tax | -70 | 3,583 | -467

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| | |

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Cash Earnings per share | 2.13 | 2.35 | 8.63

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EPRA NRV per share | 207 | 235 | 207

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EPRA NTA per share | 204 | 233 | 205

The Board has proposed that the annual general meeting (AGM) to be held today

approves the distribution of a dividend of NOK 2.50 per share for the second

half of 2022. The Board has also proposed that the AGM grants the Board an

authorization to resolve distribution of dividends for the first half of 2023,

in accordance with the dividend policy.

Considering the current market situation, the Board wishes to signal that the

Board's decision will be affected by the future development in the financing and

property market, and that such decision may be to retain up to 100 % of the cash

flow in order to strengthen the company's balance sheet. Such decision will be

made in October 2023.

Entra ASA will present its financial and operating results today at 08:30 CET

through a live webcast. The webcast can be followed from:

https://entra.no/investor-relations. The presentation as well as the full

quarterly report is available on the company's website.

Oslo, 25 April 2023

Entra ASA

For further queries please contact: Sonja Horn, CEO, tel: +47 905 68 456, email:

sh@entra.no or Anders Olstad, CFO, tel + 47 900 22 559, email:ao@entra.no

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

ABOUT ENTRA ASA

Entra is a leading owner, manager and developer of office properties in Norway.

Entra owns and manages around 102 properties totalling approximately 1.6 million

square meters, located in Oslo and the surrounding region, Bergen and Trondheim.

Entra has a solid customer portfolio with a high proportion of public tenants.

The company's strategy is focused on delivering profitable growth, high customer

satisfaction and environmental leadership

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/16126567/2267/3104/Download%20announcement

%20as%20PDF.pdf

Q1 2023 report.pdf -

https://kommunikasjon.ntb.no/ir-files/16126567/2267/3099/Q1%202023%20report.pdf