Entra

Earnings Release • Jul 14, 2016

Entra ASA : Significant income and value growth in Q2-16. Semi-annual dividend of NOK 1.70 per share

Entra ASA : Significant income and value growth in Q2-16. Semi-annual dividend of NOK 1.70 per share

Oslo, 14 July 2016 - Entra ASA recorded rental income of 463 million in the

second quarter 2016 (up from 423 million in the same quarter 2015). Net

operating income was 421 million (381 million) and net income from property

management was 258 million (110 million). Property values increased by 567

million (178 million), representing a net uplift of approximately 2 % from the

previous quarter. Profit before tax was 790 million (661 million) in the

quarter.

"We continue to deliver on our strategy with acquisitions of high quality office

properties close to public transport hubs and disposal of smaller properties

outside our focus area. Rental income shows a strong nine per cent increase from

the same quarter last year and I am also very pleased with the results from our

letting activities in the quarter", said Arve Regland, Entra's CEO.

Entra's board has decided a semi-annual dividend of NOK 1.70 per share to be

paid to all shareholders as of 5 October 2016. The payment date will be 13

October 2016.

During Q2 2016 Entra has signed new and renegotiated leases with an annual rent

totalling 110 million (37,000 sqm). The largest new lease contract was with the

University of Oslo for a new Faculty of Law in a 21,000 sqm new build project in

Tullinkvartalet in Oslo.

As of 30.06.16 the management portfolio occupancy was 95.4% (94.6%) and the

average unexpired lease term of contracts was 7.1 (7.4) years. Public sector

tenants represented 73% of the customer portfolio.

On 1 June Entra announced the agreement to buy three high quality office

properties at Skøyen in Oslo from Norwegian Property ASA. The portfolio

comprises about 61,000 sqm gross area, of which around 43,100 sqm office and

2,700 sqm retail. Total transaction price is approximately 2.5 billion and

closing is expected to take place on 1 September 2016. Entra has also sold three

smaller properties with a total consideration of 149 million.

Entra has started the renovation of a new Powerhouse at Kjørbo in Sandvika

during the quarter, where Asplan Viak will be the main tenant.

Q216 Q215 H116 H115 2015

Rental income     463 423 916 864 1 760

Net operating income     421 381 850 787 1 574

Net income from property   258 110 536 321 799

management

Profit before tax     790 661 1 074 1 677 3 075

Cash Earnings per share*     1.4 0.6 2.9 1.7 5.0

EPRA NAV per share*     91 81 91 81 89

* 183.7 million shares ** Cash earnings in 2015 has been adjusted by NOK 115

million due to termination of swap contracts in Q2-2015. The termination fee was

defined as a one-off item and did not reduce cash earnings as a basis for

dividend for 2015

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

Oslo, 14 July 2016

Entra ASA

For further queries please contact: Arve Regland, CEO, tel: +47 479 07700,

email: ar@entra.no or Anders Olstad, CFO, tel + 47 900 22559, 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 96 buildings totalling approximately 1.2 million

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

Stavanger and Trondheim. The market value of the portfolio (incl.ownership in

associates and JVs)  is approximately NOK 34 billion.---

[HUG#2028484]