Castellum — M&A Activity 2021

Dec 22, 2021

Press release Gothenburg, 22 December 2021

Castellum divests properties in Helsingborg for SEK 2.4 billion

Castellum is divesting Högkvarteret 1 and 2 in Helsingborg to Intea. The sale price is SEK 2.4 billion less overheads and deferred tax totalling approximately MSEK 120. The sale resulted in an impairment of goodwill of approximately MSEK 120 and deferred tax income of approximately MSEK 300. The underlying property value exceeds the latest valuation by 23%.

The properties have approximately 37,500 square metres of lettable area and a rental value of MSEK 103 per year. The tenants are the Swedish Prison and Probation Service (Kriminalvården) and the Swedish Police Authority (Polismyndigheten). Closing will take place on 28 December.

"The sale will strengthen our financial position after the combination with Kungsleden and will realise an increase in value of approximately 23% compared to booked value as of Q3 2021. The transaction indicates the prevailing strength of the property market, and how the value in our portfolio has performed. Moreover, we will continue to invest in and develop properties for our key government tenants through our first-rate development portfolio," says Biljana Pehrsson, CEO of Castellum AB.

The transaction in brief

Properties: Högkvarteret 1 and 2, Helsingborg Buyer: Intea Fastigheter AB (publ) Sale price: SEK 2.4 billion Closing date: 28 December 2021 Rental value: MSEK 103 per year Average contract duration: approx. 10 years Tenants: Swedish Prison and Probation Service, 53%; Swedish Police Authority 47% Lettable area and economic occupancy rate: ~37,000 square metres; 100%

For further information, please contact:

Biljana Pehrsson, CEO Castellum AB, +46 08-503 052 04 Ylva Sarby Westman, Deputy CEO and CFO Castellum AB, +46 706 90 65 97

About Castellum

Castellum is one of the largest listed property companies in the Nordic region that develops flexible workplaces and smart logistics solutions. As of 19 November 2021, the property value totalled approximately SEK 148 billion, based on ownership of all shares in Kungsleden. We are active in attractive Swedish growth regions as well as in Copenhagen and the Helsinki area. Through Castellum's associated company, Entra ASA, the company is also exposed to the Norwegian commercial property market. One of our sustainability goals is to become entirely climate neutral by 2030 at the latest. Castellum is the only Nordic property and construction company elected to the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on Nasdaq Stockholm Large Cap.

Beyond expectations. www.castellum.se