KMC Properties ASA — Capital/Financing Update 2019

May 13, 2019

Storm Real Estate ASA – New standstill agreement with the bank

Storm Real Estate ASA – New standstill agreement with the bank

Oslo 13.05.2019. Reference is given to the public announcement published on 30 April 2019, where the company informed that it had signed a short-term agreement with Swedbank AB, containing new loan covenants. This agreement expires on 13 May 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 27 May 2019. The company is likely to breach its loan covenants at the expiry of the agreement. 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