Entra

Earnings Release • Apr 29, 2025

Q1 2025: Underlying rental income growth of 2.6%, increased financial resilience through bond issuances and bank debt refinancing

Q1 2025: Underlying rental income growth of 2.6%, increased financial resilience through bond issuances and bank debt refinancing

29.4.2025 07:00:00 CEST | Entra ASA | Additional regulated information required

to be disclosed under the laws of a member state

Oslo, 29 April 2025 - Rental income was 774 million in Q1 2025 compared to 878

million in Q1 2024. Adjusted for divestments, the underlying rental income

growth was 2.6 per cent. Net income from property management was 320 million

(325 million), with reduction in rental income due to divestments largely offset

by lower interest expenses. Changes in the value of investment properties were

flat at -6 million. Profit before tax was 280 million (-1 313 million) and net

asset value (EPRA NRV) increased to 163 per share.

During the first quarter, Entra issued 3.1 billion in bonds and refinanced 17.0

billion of bank debt, establishing a flexible long-term financing structure and

extending the average time to maturity to 4.0 years, thereby increasing

financial resilience. Entra continues to strengthen its debt metrics this

quarter.

Gross letting was relatively high in Q1 2025, with new and renegotiated leases

signed for an annual rent totalling 98 million (34 900 sqm). Lease contracts

with an annual rent of 117 million (30 400 sqm) were terminated. Net letting

totalled -73 million (27 million) for the quarter. As of 31 March 2025,

portfolio occupancy was 93.8 per cent (95.3 per cent) with an average unexpired

lease term of contracts at 6.2 years (6.4 years).

(NOK million) | Q1-25 | Q1-24 | 2024

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Rental income | 774 | 878 | 3 267

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Net operating income | 708 | 799 | 2 991

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Net income from property management | 320 | 325 | 1 308

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Net value changes | -32 | -1 627 | -1 332

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Profit/loss after tax | 212 | -979 | 75

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| | |

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(NOK per share) | Q1-25 | Q1-24 | 2024

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Cash Earnings | 1.74 | 1.77 | 7.11

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EPRA NRV | 163 | 158 | 162

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EPRA NTA | 161 | 157 | 160

Including continuing and discontinued operations

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

through a live webcast. The webcast can be followed from:

https://entra.no/investor-relations. The presentation, as well as the full

quarterly report, is available on the company's website.

Oslo, 29 April 2025

Entra ASA

For further queries please contact: Sonja Horn, CEO, tel: +47 905 68 456, email:

sh@entra.no or Ole Anton Gulsvik, CFO, tel: + 47 995 68 520, email: oag@entra.no

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

ABOUT ENTRA ASA

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

The company owns and manages around 80 properties, totalling approximately 1.3

million square metres, located in the Greater Oslo region, Bergen, and

Stavanger. Entra's tenant base primarily comprises public sector entities and

high-quality private tenants on long-term leases. The company's strategy focuses

on creating value through profitable growth, being the preferred office

provider, and environmental leadership.

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/16126567/18508801/6006/Download%20announce

ment%20as%20PDF.pdf

Q1-2025 Report.pdf -

https://kommunikasjon.ntb.no/ir-files/16126567/18508801/6004/Q1-2025%20Report.pd

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