Self Storage Group

Investor Presentation • Feb 15, 2022

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Self Storage Group ASA

Fourth quarter 2021

15 February 2021

FINANCIALS Q4 2021

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GROUP HIGHLIGHTS Q4 2021

We continued the strong and positive development for the company in the fourth quarter with solid organic revenue- and EBITDA-growth, development of new facilities and acquisition of new properties. Q4 2021's highlights include the opening of two large greenfield projects in Oslo, and an expansion of 6 500 m2 current lettable area (CLA). Demand is strong and occupancy has exceeded target level, despite winter-season.

• Revenues of NOK 90.6 million, up 19% from NOK 75.9 million in Q4 2020
• EBITDA of NOK 48.6 million, up 9% from NOK 44.5 million in Q4 2020
• Change in fair value of freehold investment property of NOK 302.5 million (NOK 83.4 million)
• Profit before tax of NOK 330.1 million, up from NOK 93.9 million in Q4 2020
• Average occupancy for sites open more than 12 months of 90.2% (85.6%) in Q4 2021 with an average rent per m² of NOK 2 269 per year (NOK 2 319)
• Acquisition of two properties in Norway

1) Adjusted for non-recurring items of NOK 0 million in Q4 2021 and NOK 0.3 million in Q4 2020

GROUP HIGHLIGHTS FY 2021

• All time high revenues of NOK 346.1 million, up 18% from NOK 293.3 million in 2020
• All time high EBITDA of NOK 202.9 million, up 16% from NOK 175.4 million in 2020
• All time high profit before tax of NOK 440.6 million, up from NOK 145.8 million in 2020
• Total value of freehold investment property of NOK 2 422 million as of December 2021, up from NOK 1 457 million end of December 2020
• Loan to value of freehold investment property is 39% as of end December 2021, compared to 46 % as of end December 2020

1) Adjusted for non-recurring items of NOK 3.4 million FY 2021 and NOK 1.7 million FY 2020

KEY PERFORMANCE INDICATORS – FOURTH QUARTER 2021

	CLA 30.09	Facilities 31.12	Occupancy Q4	Average rent Q4
2021	171 800 m2	128	90.2%*	2 269 NOK pr m2 *
2020	148 200 m2	116	85.6%*	2 319 NOK pr m2 *
	+23 600 m2	+12	+4.6*	-50 NOK pr m2*

Performance Like-for-Like (L-f-L) facilities with comparable m² in Q4 21 and Q4 20**

* Average occupancy and rent price pr m² for the quarter for all sites with more than 12 months of operation, expansions are included

DEVELOPMENT IN CAPACITY, OCCUPANCY AND RENT

• Demand is strong and occupancy has remained at high levels across all segments despite winter-season with lower move-in and move-out rates
• Average rent has increased in OKM and in CSS Sweden and CSS Denmark in constant exchange rate comparison 3) , but decreased in CSS N due to expansions of lettable area during the year on facilities already opened, and more use of discounts to fill up new capacity

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115 200

1) Average occupancy and rent per m2 per year for sites with more than 12 months of operation in NOK, expansions are included

2) Like-for-like=Facilities with same CLA in Q4 21 as in Q4 20 +/- 50 m2

3) Exchange rate for 2021 applied for average rent in 2020 for CSS Sweden and CSS Denmark

KEY FIGURES – FOURTH QUARTER AND FY 2021

(NOK million)

KEY FIGURES Q4

	Q4 21	Q4 20	Q4 21 change Q4 20
Revenue	90.6	75.9	+14.7
Lease expenses	-3.9	-2.1	-1.8
Property-related expenses	-14.7	-10.6	-4.0
Salary and other employee benefits	-12.6	-10.3	-2.3
Other operating expenses1)	-11.0	-8.2	-2.8
Adjusted EBITDA	48.6	44.7	+3.8
Adjusted EBITDA-margin	53.6%	58.9%

KEY FIGURES FY

	FY 2021	FY 2020	FY 2021 change FY 2020
Revenue1)	345.6	293.3	52.2
Lease expenses	-13.3	-9.4	-3.8
Property-related expenses	-44.4	-36.1	-8.3
Salary and other employee benefits1)	-44.1	-39.7	-4.4
Other operating expenses1)	-37.5	-31.0	-6.5
Adjusted EBITDA	206.3	177.1	+29.2
Adjusted EBITDA-margin	59.6%	60.4%

1) Adjustments	Q4 2021	Q4 2020	FY 2021	FY 2020
Revenue: release of historical liability	0.0	0.0	0.5	0.0
Other operating expenses: acquisition costs	0.0	-0.3	-3.9	-1.1
Salary and other employee benefits: severance packages	0.0	0.0	0.0	-0.5
Total adjustments	0.0	-0.3	-3.4	-1.7

• Three long-term leases now classified as short-term impacts leases expense

• Extreme power prices in Q4 2021 has tripled costs to heating and electricity compared to Q4 2020

• Focus on planned maintenance, branding and organizational development to level up the scalable platform for future growth

1) Adjusted for non-recurring costs related to acquisitions, restructuring and severance packages

KEY FIGURES1) – Q4 2021

(NOK million)

P&L	Q4 21	Operational change	Q4 20	FY 20
Revenue	90.6	+14.7	75.9	293.3
Total operating costs	-42.1	-10.6	-31.5	-117.9
Adjustments2)	0.0	-0.3	0.3	1.7
Adjusted EBITDA	48.6	+3.8	44.7	177.1
Adjusted EBIT	43.8	+2.9	41.0	162.7
Change in fair value of inv. property	302.5	+219.1	83.4	92.9
Change in fair value of lease property	-12.1	+3.4	-15.5	-63.0
Net finance	-4.1	+10.6	-14.7	-45.1
Adjusted Pre-tax profit	330.1	+235.9	94.2	147.5
Adjusted Net profit	261.3	+190.6	70.8	114.3
area (thousands m2 Current lettable )	171.8	+23.6	148.2	148.2
Lettable area under development (thousands m2 )	34.9	+4.5	30.4	30.4
Cash flows
Net cash flows from operating activities	48.3	+5.7	42.6	176.6
Net cash flows from investing activities	-45.9	+82.8	-128.7	-263.8
Net cash flows from financing activities	-139.2	-240.0	100.8	244.5
Cash and cash equivalents at beginning of the period	352.0	+119.4	232.5	88.1
Cash and cash equivalents at end of the period	214.7	-32.1	246.8	246.8

Balance sheet	31 Dec 21	31 Dec 20
ASSETS
Freehold investment property	2 422.4	1 456.5
Leasehold investment property	444.3	515.2
Property, plant and equipment	162.6	122.5
Goodwill	187.3	184.6
Other non-current assets	15.5	1.6
Total non-current assets	3 232.0	2 280.5
Financial instruments	0.0	24.8
Other current assets	44.7	30.4
Cash and bank deposits	214.7	246.8
Total current assets	259.4	264.1
TOTAL ASSETS	3 491.4	2 582.4
EQUITY AND LIABILITIES
Total equity	1 803.9	1 177.9
Long-term interest-bearing debt	892.6	519.4
Long-term obligations under finance leases	422.5	487.9
Deferred tax liabilities	196.7	114.6
Other non-current liabilities	0.3	2.0
Total current liabilities	175.4	280.6
Total liabilities	1 687.5	1 404.6
TOTAL EQUITY AND LIABILITIES	3 491.4	2 582.4

1) Unaudited figures for 2021

2) Adjusted for non-recurring items of NOK 0 million in Q4 2021, NOK -0.3 million in Q4 2020 and NOK 1.7 million FY 2020

STEADY GROWTH IN SHARE OF FREEHOLD PORTFOLIO

DEVELOPMENT IN SHARE OF FREEHOLD FACILITIES SHARE OF FREEHOLD FACILITIES PER CONCEPT

• SSG's strategy is to expand its freehold facility base
• 53% of current lettable area in operation at the end of December 2021 was freehold
• Freehold m² has increased by 44% since December 2020
• SSG plans to accelerate growth and open 15 000+ m² freehold facilities during 2022

31.12.2021 m2	Current lettable area	Under development	Total lettable area
Freehold facilities	90 800	34 800	125 600
Leased facilities	81 000	100	81 100
SUM	171 800	34 900	206 700

FREEHOLD INVESTMENT PROPERTY AS OF 31.12.2021 -PROPERTY VALUE INCREASED BY 66% FROM DECEMBER 2020

• 177 300 m²gross area freehold property + 19 500 m²gross area land for containers
• Approximately 65-70% of gross area is utilized as lettable area
• Intra group lease agreements at commercial terms
• External valuations conducted once a year with quarterly assessment of indications of change and upon acquisition of new property
• Yield compression in the market, completion of development properties and annual CPI-adjustment on internal leases impact figures in Q4 2021

Gross area pr region and yield1) as of 31.12.21

Freehold portfolio Total freehold property of 2 422 MNOK

Development change in fair value over P&L

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1) Net market rent divided on property value in full operation

CURRENT LETTABLE AREA OF 171 800 M²AS OF 31.12.2021 – 34 900 M² IN PIPELINE

34 900 M² IN POTENTIAL LETTABLE AREA

• The potential m²is mainly in freehold facilities in Norway
• Rent income from expiring lease contracts from 8 600 m²of the 34 900 m²not yet built into self-storage units
• Plan to open 15 000+ m²during 2022 (organic)

Area with other rentals	8 500	100	8 600
Sum	31 200	3 700	34 900
Expansions	22 100	1 900	24 000
New facilities	9 100	1 800	10 900
	CSS	OKM	Total SSG

Current lettable area pr region2) Lettable area under development1)

REVENUE DYNAMICS Q4 2021

1) Average occupancy and rent pr m² for sites with more than 12 months of operation in NOK

STRONG LINK BETWEEN REVENUE GROWTH AND ABSOLUTE GROWTH IN PRE TAX FREE CASH FLOW

High cash conversion business

BUSINESS DEVELOPMENT Q4 2021

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UNTAPPED POTENTIAL FOR SELF STORAGE IN SCANDINAVIA

Scandinavia lagging in terms of self storage space per capita (sq.m.)

• Significant untapped potential in the Scandinavian countries
• Awareness of self storage is still low in Scandinavia
• The self storage market is growing across all of Europe
• Urbanization is driving growth
• New building standards in Norway require less storage space

THE SCANDINAVIAN SELF STORAGE MARKET AT A GLANCE

Source: Company information and FEDESSA European Self Storage Survey 2021 as of June 2021

SSG CONSISTS OF TWO DISTINCT BUSINESS CONCEPTS

City Self-Storage OK Minilager

High-end brand providing self-storage rental and ancillary products and services in Scandinavia's larger cities

• 491) temperate storage facilities across Scandinavia
• One of the leading self-storage providers in the Scandinavian market
• Located in Greater-Oslo, Stavanger, Trondheim, Stockholm, Copenhagen and the Jutland area in Denmark
• 105 900 m² CLA (46 300 m² is freehold)

• 1) As of 31 December 2021
• 2) According to revenue

Countrywide, discount-priced offering of selfserviced storage facilities in Norway

• 791) facilities located across Norway
• 50 temperate storage facilities and 29 drive-in storage facilities
• 2 nd largest player in Norway, behind CSS²
• Self service, open 24 hr/day and 7 days a week
• 65 900 m² CLA (44 500 m² is freehold)

A LARGE, DIVERSIFIED AND INCREASINGLY LOYAL CUSTOMER BASE SECURING STABLE INCOME STREAMS

• Refurbishment
• Archived records
• Last mile storage

• Other

• Refurbishment

• Downsizing
• Need for additional storage
• Student storage
• Other

1) The numbers are approximate

2) Average rental time is longer than 12 months as customers who have not yet terminated the lease is not included in the average

A DIGITAL CUSTOMER JOURNEY

• SSG's digital business model is highly scalable
• In 2021, SSG strengthened the management team with the recruitment of a CMO and CTO
• A new website with new branding was launched for City Self Storage Norway in Q4 2021
• A new and fully automated online booking platform with e-signing (BankID) and integrated credit check
• OK Minilager and City Self Storage Norway is now on one unified CRM-platform
• App-based access system
• Self-Service portal and Omni-channel service
• Webshop for moving and storage products
• SSG will continue to innovate on leading CRM platform

ACQUISISTIONS IN THE FOURTH QUARTER

Acquisition of two new properties with a CLA potential of 1 350 m²

Facility	Location	Total CLA Potential	Estimated opening	Concept
Halden Sørliveien 84	Neighbouring property to our existing facility in Halden. With this investment we will expand an existing facility, and strengthen our position as market leader in the Østfold region.	500 m2	Q1 2022
Mo i Rana Verkstedveien 1	The property has a great location in the city of Mo i Rana, with visibility from E-6. This is SSG´s 2nd freehold investment in the county of Nordland	850 m2	Q1 2022

DEVELOPMENT PIPELINE

Three large greenfield development projects opened

Facility	Location	Status	Potential total CLA	CLA in Operation 31.12.2021	Remaining CLA potential	Concept
Oslo Breivollveien 25	Landmark location with unique visibility	Fit-out on 3 of 8 floors installed in Q4. The facility opened in late December.	5 000 m2	1 750 m2	3 250 m2
Oslo Bjørnerudveien 10	Property south of Oslo with significant catchment area	Fit-out on 2 of 3 floors installed in Q4. The facility opened in late December.	2 400 m2	1 700 m2	700 m2
Trondheim John Aaes vei 40	Highly visible property with easy access from main roads	Fit-out on 2 of 3 floors installed in Q4. The facility opened in February 2022	3 500 m2	0 m2	3 500 m2

Breivollveien 25 John Aaes vei 40

DEVELOPMENT PIPELINE

Selected conversion/expansion projects

Facility	Location	Status	Total CLA Potential	CLA in operation	Remaining CLA potential1	Concept
Oslo Hovfaret 11	Located at Skøyen, an attractive commercial hub with a significant catchment area	Self storage fit-out is constructed on 4 floors of this 6-floor building. Last phase is planned to open during Q2 2022	3 300 m2	1 850 m2	1 450 m2
Oslo Persveien 28	Highly-visible property in a larger development area	Planning in progress. Estimated to open first phase at the end of 2022	2 500 m2	N/A	2 500 m2
Oslo General Birchs gate 16	Close to the city centre of Oslo with a significant catchment area	Planning to convert parking space into self storage will start in 2021. Conversion will be done in phases.	8 100 m2	4 300 m2	3 800 m2 *
Asker Billingstadsletta 91	Neighbouring property to our existing facility at Nesbru in Asker	Planning and zoning has started. Estimated to open first phase in Q3 2022.	3 150 m2	N/A	3 150 m2 *
Stavanger Petroleumsveien 8	Neighbouring property to our existing facility at Forus in Stavanger	The location has a significant catchment area and easy access from main roads	1 700 m2	N/A	1 700 m2

NINE PROPERTY ACQUISITIONS SIGNED IN THE FOURTH QUARTER

Facility	Concept	Total CLA potential	Expected opening
Gardermoen - Gardermovegen		1 050 m2	Q3 2022
Vennesla - Lundevegen 10		800 m2	Q3 2022
Sarpsborg - Kampenesmosen		*	Q2 2023
Vestby – Deliveien 21		1500 m2	Q1 2023
Halden – Sørliveien 84		1 400 m2	Not decided
Trondheim – Nordslettvegen 4BC		1 550 m2 **	Q3 2022
Kristiansand – Kartheia 5		550 m2	Q2 2022
Arendal – Molandsvegen 339		850 m2	Q4 2022
Askøy – Storebotn Næringspark		1 050 m2	Q4 2022

* Acquisition of land property. CLA potential TBD

** The CLA will be developed in phases. Only a part of the CLA potential will open i 2022

A SUSTAINABLE BUSINESS MODEL

SSG has a low carbon footprint – but there is still room for improvement

• We aim to be part of the circular economy: we enable our customers to take care of their belongings instead of throwing and later buy new, thus reducing consumption
• SSG converts vacant buildings into self-storage, extending the buildings life
• Our greenfield projects are built according to strict Nordic building regulations
• SSG has limited energy-consumption with a focus on reducing the use of electricity per square meter even further
• We have a focus on working conditions for our employees, customers and other stakeholders
• We offer rental products for the moving process, reducing the need for each customer to acquire equipment when they are moving and storing

SSG HAS A STRONG PLATFORM FOR FUTURE GROWTH

STRATEGIC SUMMARY

• Grow our freehold portfolio in selected urban markets
• Focus on the larger urban areas in Norway
• Occupancy target of 90%
• Investments in CRM, automation and digital platforms
• Continue to include sustainability as an integrated part of the business
• Creating great customer experience
• Lean operations and self-service
• Intention to continue to grow organically in Sweden and Denmark
• Looking to selectively acquire existing self-storage providers across the Nordics

Disclaimer

The information included in this Presentation contains certain forward-looking statements that address activities, events or developments that Self Storage Group ASA ("the company") expects, projects, believes or anticipates will or may occur in the future. These statements are based on various assumptions made by the Company, which are beyond its control and are subject to certain additional risks and uncertainties. The Company is subject to a large number of risk factors including but not limited to economic and market conditions in the geographic areas and markets in which Self Storage Group is or will be operating, counterpart risk, interest rates, access to financing, fluctuations in currency exchange rates, and changes in governmental regulations. For a further description of other relevant risk factors, we refer to the Annual Report for 2020 for Self Storage Group and updated risk evaluation in the interim report for Q4 2021. As a result of these and other risk factors, actual events and our actual results may differ materially from those indicated in or implied by such forward-looking statements. The reservation is also made that inaccuracies or mistakes may occur in the information given above about current status of the Company or its business. Any reliance on the information above is at the risk of the reader, and Self Storage Group disclaims any and all liability in this respect.

Self Storage Group ASA

Karenslyst Allé 2 0278 Oslo Norway

Contact info:

Cecilie Brænd Hekneby (CFO) +47 992 93 826 cehe@selfstoragegroup.no

Appendix

	Holding	%	Name	Country
1	24 078 577	26,0 %	1) UBS Switzerland AG	Switzerland
2	9 565 000	10,1 %	FABIAN HOLDING AS	Norway
3	6 565 000	6,9 %	GSS INVEST AS	Norway
4	6 260 724	6,6 %	VERDIPAPIRFONDET ODIN EIENDOM	Norway
5	496 865 4	% 4,7	AG J.P Morgan	Sweden
6	4 123 214	% 4,4	J.P. Morgan Securities LLC	United States
7	3 668 743	3,9 %	SKAGEN M2 VERDIPAPIRFOND	Norway
8	2 600 000	2,7 %	FIRST RISK CAPITAL AS	Norway
9	2 488 255	2,6 %	HSBC Bank Plc	United Kingdom
10	2 402 048	2,5 %	SOLE ACTIVE AS	Norway
11	2 282 143	2,4 %	Paribas BNP Securities Services	Luxembourg
12	1 843 253	1,9 %	Danske Invest Norge Vekst	Norway
13	700 000 1	1,8 %	VERDIPAPIRFONDET HOLBERG NORGE	Norway
14	1 459 000	1,5 %	Paribas BNP Securities Services	France
15	1 386 183	1,5 %	The Bank of York Mellon New	Canada
16	1 090 000	1,2 %	J.P Morgan AG	Sweden
17	1 041 813	% 1,1	Citibank, N.A.	Ireland
18	1 016 072	1,1 %	Brothers & Brown Harriman Co.	United States
19	900 000	1,0 %	MUSTAD INDUSTRIER AS	Norway
20	887 052	0,9 %	CACEIS Bank	France
	80 352 443	% 84,9

Total number of shares: 94 678 584

As of 14 February 2022

1) Alta Lux Holdco S.a.r.l/Centerbridge Partners

Largest shareholders Share development last 12 months

Shareholder structure

DEVELOPMENT IN OCCUPANCY & AVERAGE RENT PER MONTH

Development in occupancy*

Development in average rent per year*

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1) Average occupancy and rent pr m² for sites with more than 12 months of operation in NOK

EBITDA-DEVELOPMENT

(NOK million)

BRIDGE Q4 2020-Q4 2021

PROFIT BEFORE TAX DEVELOPMENT

(NOK million)

BRIDGE Q4 2020-Q4 2021

HISTORICAL REVENUE AND ADJUSTED EBITDA-DEVELOPMENT

(NOK million)

Q1 2019-Q4 2021

Revenue Adjusted EBITDA

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FOURTH QUARTER 2021 COMPREHENSIVE INCOME

(Amounts in NOK 1 000)	Note	Unaudited For the three 31 December 2021	Unaudited For the three months ended months ended 31 December 2020	Unaudited For the year ended 31 December 2021	Audited For the year ended 31 December 2020
Revenue	3	90 638	75 924	346 075	293 348
Lease expenses	3,9	-3 886	-2 060	-13 250	-9 432
Property-related expenses	3	-14671	-10 642	-44 414	-36 135
Salary and other employee benefits	3	-12 552	-10 266	-44 115	-40 209
Depreciation		-4 709	-3 728	-16 863	-14 476
Other operating expenses	3	-10 979	-8 491	-41 373	-32 138
Operating profit before fair value adjustments		43 841	40 737	186 060	160 958
Change in fair value of freehold investment property	6	302 459	83 364	319 996	92 929
Change in fair value of leasehold investment property	6,9	-12 105	-15 497	-46 356	-63 010
Operating profit after fair value adjustments		334 195	108 604	459 700	190 877
Finance income	10	10 372	2 093	36 273	2 603
Finance expense	8,9,10	-14 498	-16 779	-55 357	-47 659
Profit before tax		330 069	93 918	440 616	145 821
Income tax expense		-68 741	-23 331	-92 015	-32 853
Profit for the period		261 328	70 587	348 601	112 968
Total adjustments			- 254	-3 416	-1 715

Profit and loss statement Comments

• Revenue for Q4 2021 was NOK 90.6 million, up from NOK 75.9 million in Q4 2020. The increase is related to the growth in lettable area and rentals and new revenue from Dit Pulterkammer
• Operating profit before fair value adjustments in Q4 2021 of NOK 43.8 million, an increase of NOK 3.1 million compared to Q4 2020. The growth in lettable area and rentals in addition to increased costs to electricity and heating, planned maintenance and branding and organizational development impact the figures.
• In total non-recurring items amounted to NOK 0 million in Q4 2021 and NOK -0.3 million in Q4 2020
• The fair value of investment property is based on external valuations for freehold investment property and value adjustment due to passage of time for leasehold investment property

31 DECEMBER 2021 – FINANCIAL POSITION

Amounts in NOK 1 000)		Unaudited	Audited	(Amounts in NOK 1 000)		Unaudited	Audited
ASSETS		31 December 2020	31 December	EQUITY AND LIABILITIES		31 December 2020	31 Dec
Non-current assets	Note			Equity
reehold investment property	e	2 422 368	1 456 522	Issued share capital	7	9 467
easehold investment property	ਦ ਰੇ	444 253	515 227	Share premium		1 082 657
Property, plant and equipment	ਰੋ	162 615	122 477	Currency translation reserve		-1 811
limpood		187 330	184 628	Retained earnings		713 601
inancial instruments		14 160		Total equity		1 803 914	1
Other intangible assets		1 220	1 626	LIABILITIES
otal non-current assets		3 232 037	2 280 480	Non-current liabilities
urrent assets				Non-current interest-bearing debt	8	892 626
nventories		1 857	1 611	Non-current lease liabilities	8,9	422 479
frade and other receivables		17 140	15 629	Other financial liabilities		320
inancial instruments	6		24 750	Deferred tax liabilities		196 745
Other current assets		25 668	13 162	Total non-current liabilities		1512 170
Cash and bank deposits		214 746	246 804	Current liabilities
otal current assets		259 411	301 956	Current interest-bearing debt	8	51 644
OTAL ASSETS		3 491 448	2 582 436	Current lease liabilities	8,9	46 192
				Trade and other payables		12 804
				Income tax payable		10 478
				Other taxes and withholdings		6713

Financial position Comments

• Total assets of NOK 3 491 million
• Freehold investment property increased with NOK 965.8 million and leasehold investment property decreased with NOK 71.0 million since 31 December 2020
• Cash and bank deposits decreased with NOK 32.1 million since 31 December 2020, mainly due to private placement and net borrowings drawn up during the year exceeding acquisition of subsidiaries and investment property
• Increased equity through net proceeds from private placement of gross NOK 300 million and result for the period
• Negative interest-bearing debt was NOK 730.9 million in the balance as of 31 December 2021. Obligations under financial lease decreased with NOK 68.4 million due to acquisition of an existing leasehold agreement on the premises, lease payments in the year 2021, and currency differences. The decrease is partly offset by two options assessed reasonably certain to exercise
• Equity ratio was 52% 31 December 2021

FOURTH QUARTER 2021 – CASH FLOW

Condensed consolidated statement of cash flows

Comments
Operating activities
▪ Strong cash flow
▪ Invoicing of customers in advance – predictable and stable costs
Investing activities
▪ Acquisition of two properties with cash in Q4 2021
▪ Development of properties, additions to existing properties and
fit out new facilities and expansions
▪ Maintenance is posted as property cost
Financing activities
▪ Repayments of borrowings amounting to NOK -117.2 million
▪ Payment of lease liabilities and payments of lease classified as
interests amounting to NOK -14.9 million
SSG's cash position at the end of December 2021 was
NOK 214.7 million

OUR HISTORY

1993	1998		2009	2016	2017
•First CSS site established in Norway, investment in "Safe Mini Lager" in Sweden	•Selvaag Group entered into the business and CSS expanded to Denmark		•OK Minilager was established •External by Gustav and Fabian Søbak	investors invested in OK Minilager •OK Minilager acquired CSS	•SSG established •Listed on OSE
	2017	2018	2019	2020	2021
Private placements1)	100 MNOK 200 MNOK		250 MNOK		300 MNOK
Acqusition of companies	(9 facilities)		(4 facilities)		(5 facilities)
		(4 facilities)
Acqusition of properties	10	11	8	9	9