KMC Properties ASA — Capital/Financing Update 2019

Jun 10, 2019

Storm Real Estate ASA – New standstill agreement with the bank

Storm Real Estate ASA – New standstill agreement with the bank

Oslo 10.06.2019. Reference is given to the public announcement published on 3 June 2019, where the company informed that it had signed a short-term agreement with Swedbank AB, containing new loan covenants. This agreement expires on 10 June 2019. 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 June 2019. The company expects that there will be a final clarification on the negotiations with the bank by the end of June. The company is likely to breach its loan covenants at the expiry of the agreement if the parties does not agree on a long-term solution. See also note 4.3, 4.4 and 5.2 in the consolidated statements in the annual report for 2018.

For more information, please contact:

Kristoffer Holmen, interim general manager

kristoffer@stormcapital.co.uk

Phone: +4792814862