KMC Properties ASA

Capital/Financing Update • Dec 14, 2018

Storm Real Estate ASA – New short-term agreement with the bank

Storm Real Estate ASA – New short-term agreement with the bank

Oslo 14.12.2018. Reference is given to the public announcement published on 26 September 2018, where the company informed that it had signed a short-term agreement with Swedbank AB, containing new loan covenants. This agreement expires on 15 December 2018. Today the company has signed a new short-term agreement with the bank, containing new loan covenants. The agreement expires once a long-term agreement has been signed, or at the latest on 30 March 2019. The company is likely to breach its loan covenants by the end of Q1 2019.

For more information, please contact:

Storm Capital Management Ltd,

Morten E Astrup

morten@stormcapital.co.uk

Telephone: +44 (0)777 8888 000