Self Storage Group

SSG: Marks anniversary with record high revenue and EBITDA

(Oslo, November 1, 2022) Self Storage Group ASA (Self Storage Group, OSE:SSG)

has delivered strong growth in the five years since the company was listed, and

the Group marks the anniversary by delivering all-time high revenue and EBITDA

in the third quarter 2022. A strong balance sheet combined with favourable

financial terms, gives a solid foundation for further growth.

Revenues in Q3 2022 were NOK 101.9 million, up 10% from NOK 92.8 million in the

corresponding quarter in 2021. This is the first time the NOK 100 million

milestone in quarterly revenue was exceeded. The EBITDA in the third quarter

ended at NOK 60.5 million, a 4% increase from 58.2 million.

"When SSG was listed five years ago, we targeted the large untapped potential

for self-storage in Scandinavia and were confident that SSG had a solid platform

to deliver growth and value creation. Looking back, I am proud of the results

the team has delivered over our years as a listed company. Record-high results

in the third quarter, a strong financial position and solid organization, show

that the Group is well positioned to continue delivering value for our customers

and shareholders", says Fabian Søbak, CEO of Self Storage Group.

Self Storage Group experiences strong demand for its services, and occupancy for

mature facilities was above targeted levels of 90% in the third quarter. Current

lettable area (CLA) at the end of September 2022 was 182 600 m2, of which 167

700 m2 had been in operation for more than 12 months.

Three new properties in Norway and one in Denmark were acquired in the quarter,

contributing to the development pipeline of 39 200 m2 CLA.

"SSG has demonstrated its solid and scalable platform and is well positioned for

future growth in a growing market. We are pleased to see that it is expected

that the growth targets of opening more than 15 000 m2 during 2022 will be met.

The strong balance sheet enables continues investments for the future. Aiming to

further accelerate growth, the target in 2023 will be to open more than 20 000

m2 of lettable area", says Steven Skaar, Chairman of Self Storage group.

The third quarter 2022 report and presentation are enclosed.

A presentation of the results by CEO Fabian Søbak and CFO Cecilie Brænd Hekneby

will be presented on November 1 2022 at 08:00 (CET) and broadcasted live on: on

https://www.selfstoragegroup.no/web-cast/ (https://www.selfstoragegroup.no/web

-cast/T). The presentation will be held in English

For additional information, please contact: Cecilie Brænd Hekneby, CFO, +47 992

About Self Storage Group|www.selfstoragegroup.no

Self Storage Group ASA engages in the business of renting out self-storage units

to both private individuals and businesses through the two concepts; OK

Minilager and City Self-Storage. The company is one of the leading self-storage

providers in Scandinavia with a particularly strong position in the Norwegian

market. Self Storage Group operates 133 facilities across Scandinavia with a

current lettable area of 182 600 square meters.

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