Self Storage Group

Share Issue/Capital Change • Aug 24, 2021

Self Storage Group ASA - Contemplated private placement

Self Storage Group ASA - Contemplated private placement

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR

INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES OR ANY

OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE

UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE

SECURITIES DESCRIBED HEREIN.

(Oslo, 24 August 2021) Self Storage Group ASA ("SSG" or the "Company") has

retained ABG Sundal Collier ASA and Arctic Securities AS as Joint Bookrunners

(together the "Managers") to advise on and effect a private placement of new

ordinary shares (the "New Shares") with gross proceeds of up to approximately

NOK 300 million (the "Private Placement").

The net proceeds from the Private Placement will be used to continue to grow the

Company's freehold self-storage footprint in its existing target markets.

The Company's largest shareholder, Centerbridge Partners, currently owning

24.83% of the Company, is fully supportive of the Private Placement and has pre

-subscribed for NOK 125 million. Furthermore, the Company has received

indications of demand exceeding the size of the Private Placement from a

wallcrossing exercise conducted today.

The Private Placement will be directed towards Norwegian and international

investors, subject to applicable exemptions from relevant registration, filing

and prospectus requirements, and subject to other applicable selling

restrictions. The minimum application and allocation amount has been set to the

NOK equivalent of EUR 100,000. The Company may however, at its sole discretion,

allocate amounts below EUR 100,000 to the extent exemptions from the prospectus

requirements in accordance with applicable regulations, including the Norwegian

Securities Trading Act and the prospectus regulation 2017/119 and ancillary

regulations, are available.

The offer price in the Private Placement will be determined by the board of

directors of the Company (the "Board") following an accelerated bookbuilding

process. The bookbuilding and application period for the Private Placement

commences today, 24 August 2021 at 16:30 CEST, and is expected to close on 25

August 2021 at 08:00 CEST. The Company, after consultation with the Managers,

reserves the right to at any time and in its sole discretion close or extend the

application period. If the bookbuilding is shortened or extended, the other

dates referred to herein may be changed correspondingly.

Allocation of the shares in the Private Placement will be determined after the

expiry of the bookbuilding period, and the final allocation will be made by the

Board at its sole discretion, following advice from the Managers. Delivery

versus payment settlement of the New Shares will be facilitated by existing and

unencumbered shares in the Company being borrowed by Arctic Securities AS (on

behalf of the Managers) from certain existing shareholders pursuant to a share

lending agreement between such parties and the Company. The shares will thus be

tradable from allocation. The Managers will settle the share loan with new

shares in the Company to be issued by a resolution of the Board pursuant to an

authorisation granted by the annual general meeting held on 26 May 2021.

Completion of the Private Placement by delivery of New Shares to investors is

subject to the corporate resolutions of the Company required to implement the

Private Placement, including a resolution of the Board to proceed with the

Private Placement following the expiry of the bookbuilding period and to

increase the share capital of the Company by the issuance of the New Shares.

The Company has considered the Private Placement in light of the equal treatment

obligations under the Norwegian Securities Trading Act and Oslo Børs' Circular

no. 2/2014 and is of the opinion that the waiver of the preferential rights

inherent in a private placement, taking into consideration the time, costs and

risk of alternative methods of the securing the desired funding, as well as the

limited dilution effects of the transaction, is in the common interest of the

shareholders of the Company.

Advokatfirmaet Schjødt AS is acting as Norwegian legal counsel to the Company.

For more information, please contact:

Cecilie Hekneby, CFO & Investor Relations

Tel: + 47 992 93 826

E-mail: cehe@selfstoragegroup.no

About SSG

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 124 facilities across Scandinavia with a

current lettable area of 163 300 square meters as of Q2 2021.

See www.selfstoragegroup.no (http://www.selfstoragegroup.no) for more

information about the company.

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to Section 5-12 the Norwegian Securities Trading Act.

Important information:

The release is not for publication or distribution, in whole or in part directly

or indirectly, in or into Australia, Canada, Japan or the United States

(including its territories and possessions, any state of the United States and

the District of Columbia). This release is an announcement issued pursuant to

legal information obligations, and is subject of the disclosure requirements

pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued

for information purposes only, and does not constitute or form part of any offer

or solicitation to purchase or subscribe for securities, in the United States or

in any other jurisdiction. The securities mentioned herein have not been, and

will not be, registered under the United States Securities Act of 1933, as

amended (the "US Securities Act"). The securities may not be offered or sold in

the United States except pursuant to an exemption from the registration

requirements of the US Securities Act. The Company does not intend to register

any portion of the offering of the securities in the United States or to conduct

a public offering of the securities in the United States. Copies of this

announcement are not being made and may not be distributed or sent into

Australia, Canada, Japan or the United States.

The issue, subscription or purchase of shares in the Company is subject to

specific legal or regulatory restrictions in certain jurisdictions. Neither the

Company nor the Managers assume any responsibility in the event there is a

violation by any person of such restrictions.

The distribution of this release may in certain jurisdictions be restricted by

law. Persons into whose possession this release comes should inform themselves

about and observe any such restrictions. Any failure to comply with these

restrictions may constitute a violation of the securities laws of any such

jurisdiction.

The Managers are acting for the Company and no one else in connection with the

Private Placement and will not be responsible to anyone other than the Company

providing the protections afforded to their respective clients or for providing

advice in relation to the Private Placement and/or any other matter referred to

in this release.

Forward-looking statements: This release and any materials distributed in

connection with this release may contain certain forward-looking statements. By

their nature, forward-looking statements involve risk and uncertainty because

they reflect the Company's current expectations and assumptions as to future

events and circumstances that may not prove accurate. A number of material

factors could cause actual results and developments to differ materially from

those expressed or implied by these forward-looking statements.