Entra

Earnings Release • Oct 17, 2024

Q3-24: Continued improvements in debt metrics, results impacted by divestments

Q3-24: Continued improvements in debt metrics, results impacted by divestments

17.10.2024 07:00:01 CEST | Entra ASA | Additional regulated information required

to be disclosed under the laws of a member state

Oslo, 17 October 2024 - Rental income was 770 million in Q3 2024 compared to 833

million in Q3 2023. Adjusted for divestments the underlying rental income growth

was 4.4 per cent. Net income from property management was 318 million, stable

from the corresponding quarter in 2023 (319 million) as the reduction in rental

income due to divestments is largely offset by lower interest expenses. Value

changes on the property portfolio were positive by 37 million. Profit before tax

was 156 million (-1 894 million) in the quarter.

Entra's letting activity has been high in recent quarters, with positive net

letting of 41 million in the first half of 2024. Due to a combination of a

slower letting market and termination of three larger contracts, net letting

came in at -76 million in the third quarter. Entra signed new and renegotiated

leases with annual rent totalling 28 million (13 000 sqm) in the quarter. Lease

contracts with an annual rent of 86 million (127 0700 sqm) were terminated. As

of 30 September 2024, the portfolio occupancy was 94.4 per cent (95.6 per cent)

and the average unexpired lease term of contracts was 6.4 (6.2) years.

During the quarter, Entra finalised the newbuild project in Malmskriverveien 16

in Sandvika.

The Board's focus is currently to strengthen the company's balance sheet.

Consequently, the Board has decided to not use the authorisation to pay out

semi-annual dividend for the first half of 2024. Entra's dividend policy remains

unchanged.

(NOK million) | Q3-24 | Q3-23 | YTD-24 | YTD-23 | 2023

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Rental income | 770 | 833 | 2 500 | 2 559 | 3 418

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Net operating income | 706 | 763 | 2 290 | 2 347 | 3 136

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Net income from property management | 318 | 319 | 991 | 1 060 | 1 356

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Net value changes | -164 | -2 197 | -1 789 | -4 712 | -8 152

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Profit/loss before tax | 156 | -1 894 | -813 | -3 703 | -6 868

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Cash Earnings per share | 1.73 | 1.74 | 5.38 | 5.77 | 7.37

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EPRA NRV per share | 160 | 181 | 160 | 181 | 167

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EPRA NTA per share | 158 | 179 | 158 | 179 | 165

Including continuing and discontinued operations

Entra ASA will present its financial and operating 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, 17 October 2024

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.

Entra owns and manages around 80 properties totalling approximately 1.3 million

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

Entra has a solid customer portfolio with a high proportion of public tenants.

The company's strategy is focused on delivering profitable growth, high customer

satisfaction and environmental leadership

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/16126567/18284315/5118/Download%20announce

ment%20as%20PDF.pdf

Entra quarterly report Q3-24.pdf -

https://kommunikasjon.ntb.no/ir-files/16126567/18284315/5117/Entra%20quarterly%2

0report%20Q3-24.pdf