Public Property Invest

Share Issue/Capital Change • Apr 29, 2024

Public Property Invest ASA First day of trading

Public Property Invest ASA First day of trading

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Oslo, 29 April 2024: Reference is made to the stock exchange announcement made

by Public Property Invest ASA ("PPI" or the "Company", ticker code "PUBLI") on

25 April 2024, whereby the Company announced the successful completion of the

bookbuilding period for its initial public offering of shares (the "Offering"

or the "IPO").

As of today, 29 April 2024, the shares of PPI start trading on the Oslo Stock

Exchange.

"The listing of Public Property Invest on Oslo Børs marks the end of a series

of successful transactions, which has created a property company with a

long-term strategy of owning, operating and developing attractive and socially

beneficial property in Norway," commented Ilija Batljan, founder of SBB and

interim CEO of Public Property Invest.

"In challenging market conditions, we have raised NOK 1.52 billion in capital

which together with the IPO will give opportunity for the company to position

itself as a leading consolidator in the Norwegian real estate market with low

leverage, high growth ambitions and an attractive dividend policy. We look

forward to delivering value to our shareholders," Mr. Batljan added.

Advisors

Arctic Securities AS, DNB Markets, a part of DNB Bank ASA, Danske Bank A/S,

Norwegian branch and Nordea Bank Abp, filial i Norge (together, the

"Managers") are acting as joint global coordinators in the IPO.

Advokatfirmaet Thommessen AS is acting as legal advisor to PPI and Wikborg

Rein Advokatfirma AS is acting as legal advisor to the Managers.

For further queries, please contact:

Ilija Batljan, interim CEO, ilija@publicproperty.no

Ylva Göransson, CFO, ylva@publicproperty.no

About PPI

Public Property Invest was established in 2021 by SBB and Arctic Securities

with a long-term strategy of owning, operating, and developing socially

beneficial property in Norway. Sustainable property management is an integral

part of Public Property Invest's business.

Its portfolio of properties is characterized by strong tenants within the

public sector, such as the police, judiciary functions and public health

organizations, on long lease contracts and a high occupancy rate.

Public Property Invest's portfolio consists of more than 368,000 sqm across 61

properties which had an aggregate estimated value of around NOK 9,976 million

as of 31 December 2023. It has more than 125 public tenants in 26 cities.

Hundreds of subcontractors ensure that its tenants can fulfil their important

societal missions every day.

In the medium to long term, Public Property Invest is expected to generate NOK

690 million in normalised run-rate rental income, of which public tenants

constitute approximately 92 per cent. The company intends to be an active

consolidator in the market. With a strong balance sheet, it pursues an

opportunistic growth strategy.

IMPORTANT NOTICE

These materials do not constitute or form a part of any offer of securities

for sale or a solicitation of an offer to purchase securities of the Company

in the United States or any other jurisdiction. The securities of the Company

may not be offered or sold in the United States absent registration or an

exemption from registration under the U.S. Securities Act of 1933, as amended

(the "U.S. Securities Act"). The securities of the Company have not been, and

will not be, registered under the U.S. Securities Act. Any sale in the United

States of the securities mentioned in this communication will be made solely

to "qualified institutional buyers" as defined in Rule 144A under the U.S.

Securities Act. No public offering of the securities will be made in the

United States.

Any offering of the securities referred to in this announcement will be made

by means of the Prospectus. This announcement is an advertisement and is not a

prospectus for the purposes of the EU Prospectus Regulation.

Investors should not subscribe for any securities referred to in this

announcement except on the basis of information contained in the

aforementioned Prospectus, if the Prospectus or another prospectus is

published. Copies of any such prospectus will, following publication, be

available from the Company's registered office and, subject to certain

exceptions, on the website of the Company. The expression "EU Prospectus

Regulation" means Regulation (EU) 2017/1129 of the European Parliament and of

the Council of 14 June 2017 (together with any applicable implementing

measures in any Member State).

In any EEA Member State, other than Norway and Sweden, this communication is

only addressed to and is only directed at qualified investors in that Member

State within the meaning of the EU Prospectus Regulation, i.e., only to

investors who can receive any offering of the securities referred to in this

communication without an approved prospectus in such EEA Member State.

In the United Kingdom, this communication is only addressed to and is only

directed at Qualified Investors who (i) are investment professionals falling

within Article 19(5) of the Financial Services and Markets Act 2000 (Financial

Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling

within Article 49(2)(a) to (d) of the Order (high net worth companies,

unincorporated associations, etc.) (all such persons together being referred

to as "Relevant Persons"). These materials are directed only at Relevant

Persons and must not be acted on or relied on by persons who are not Relevant

Persons. Any investment or investment activity to which this announcement

relates is available only to Relevant Persons and will be engaged in only with

Relevant Persons. Persons distributing this communication must satisfy

themselves that it is lawful to do so.

Matters discussed in this announcement may constitute forward-looking

statements. Forward-looking statements are statements that are not historical

facts and may be identified by words such as "anticipate", "believe",

"continue", "estimate", "expect", "intends", "may", "should", "will" and

similar expressions. The forward-looking statements in this release are based

upon various assumptions, many of which are based, in turn, upon further

assumptions. Although the Company believes that these assumptions were

reasonable when made, these assumptions are inherently subject to significant

known and unknown risks, uncertainties, contingencies and other important

factors which are difficult or impossible to predict and are beyond its

control. Such risks, uncertainties, contingencies and other important factors

could cause actual events to differ materially from the expectations expressed

or implied in this release by such forward-looking statements. The

information, opinions and forward-looking statements contained in this

announcement speak only as at its date, and are subject to change without

notice.

The IPO may be influenced by a range of circumstances, such as market

conditions, and there is no guarantee that the IPO will proceed and that the

Listing will occur.

This announcement is made by, and is the responsibility of, the Company. The

Managers are acting exclusively for the Company and no one else in connection

with the IPO and will not be responsible to anyone other than the Company for

providing the protections afforded to their respective clients, or for advice

in relation to the contents of this announcement or any of the matters

referred to herein.

Neither the Managers nor any of their respective affiliates or any of their

respective directors, officers, employees, advisers, or agents accept any

responsibility or liability whatsoever for, or makes any representation or

warranty, express or implied, as to the accuracy, completeness or fairness of

the information and opinions in this announcement (or whether any information

has been omitted from this announcement) or any other information relating to

the Company or associated companies.

This announcement is for information purposes only and is not to be relied

upon in substitution for the exercise of independent judgment. It is not

intended as investment advice and under no circumstances is it to be used or

considered as an offer to sell, or a solicitation of an offer to buy any

securities or a recommendation to buy or sell any securities of the Company.

Neither the Managers nor any of their respective affiliates accepts any

liability arising from the use of this announcement.

Each of the Company, the Managers and their respective affiliates expressly

disclaims any obligation or undertaking to update, review or revise any

statement contained in this announcement whether as a result of new

information, future developments or otherwise.

The distribution of this announcement and other information may be restricted

by law in certain jurisdictions. Persons into whose possession this

announcement or such other information should come are required to inform

themselves about and to observe any such restrictions.