Entra

Earnings Release • Jul 11, 2019

Entra ASA: Q2-19 Strong net letting, start of new re-development project in Oslo

Entra ASA: Q2-19 Strong net letting, start of new re-development project in Oslo

Oslo, 11 July 2019 - Rental income was up by 4 per cent to 580 (558) million in

Q2 2019 and by 6 per cent to 1,165 (1,103) million for the first six months of

2019 compared to the same period last year. Net income from property management

was down by 3 per cent to 352 (364) million in the quarter and up by 2 per cent

to 727 (713) million for the first six months. Net value changes came in at 453

(459) million in the quarter and 915 (951) million for the first six months.

Profit before tax was 937 (843) million in the quarter and 1,795 (1,699) million

for the first six months of 2019. Entra's board has decided to pay a semi-annual

dividend of NOK 2.30 per share for the first six months of 2019, compared to NOK

2.20 per share for the same period last year. The dividend will be paid on 10

October 2019 to all shareholders per 1 October 2019.

Entra has signed new and renegotiated leases with annual rent totalling 90

million (36,000 sqm) during Q2 2019, while net letting in the quarter came in at

30 million. As of 30.06.19 the portfolio occupancy was 96.0 (96.7) per cent, and

the weighted average unexpired lease term of contracts was 7.0 (7.4) years.

During the quarter, Entra has started up a new re-development project in

Universitetsgata 2 ("Rebel U2"), next to Tullinkvartalet in Oslo. Rebel U2 will

be a technology and knowledge hub for large and small tech companies. The

28,100 sqm building will consist of office space, co-working areas, conference

center and a variation of restaurants.

Q2-19 Q2-18 H1-19 H1-18 2018

Rental income     580 558 1 165 1 103 2 243

Net operating income     530 516 1 072 1 018 2 058

Net income from property

management   352 364 727 713 1 434

Profit before tax     937 843 1 795 1 699 3 073

Cash Earnings per share     1.91 1.97 3.95 3.85 7.74

EPRA NAV per share     145 136 145 136 141

EPRA NNNAV per share     134 126 135 126 131

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

Biskop Gunnerus' gate 14 in Oslo. A live webcast of the presentation as well as

the full quarterly report is available on the company website www.entra.no

(http://www.entra.no)

Oslo, 11 July 2019

Entra ASA

For further queries please contact: Sonja Horn, CEO, tel: +47 90 56 84 56,

email: sh@entra.no or Anders Olstad, CFO, tel + 47 90 02 25 59,

email:ao@entra.no

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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

Norway. Entra owns and manages 90 buildings totalling approximately 1.3 million

square meters, located in Oslo and the surrounding region, Bergen, Stavanger and

Trondheim. The market value of the portfolio is approximately NOK 47 billion.---