Self Storage Group

Self Storage Group ASA - Acquisition of new property in Skien, Norway

(Oslo, February 24th 2022) Self Storage Group ASA (Self Storage Group, OSE:SSG)

has entered into an agreement to acquire a land property in Skien, Norway. The

transaction has a value of NOK 8,5 million. SSG has also signed an agreement

with Seltor AS, who will construct a purpose-built self- storage facility on the

land plot. The contract with Seltor AS has a value of NOK 29,6 million. The

property has a potential lettable area of 3100 square meters. The facility is

projected to open in Q2 2023 and will be operated under the city Self Storage

brand.

"We are pleased to announce this acquisition and development at Rødmyr in Skien.

With the investment in this greenfield project, we will bring the City Self

-Storage brand to Grenland, Norway´s 7[th] largest metropolitan area. This

acquisition is in line with our strategy to grow our freehold portfolio in

selected markets. There is a growing demand for our services, as urbanization

and smaller living spaces cause an increasing need for external storage

solutions says Fabian Søbak", Chief Executive Officer of Self Storage Group.

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 128 facilities across Scandinavia with a

current lettable area of 171 800 square meters as of Q4 2021.

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