Self Storage Group

Earnings Release • Feb 13, 2018

SSG: Acquisition of Minilager Norge group successfully completed

SSG: Acquisition of Minilager Norge group successfully completed

(Oslo, 13 February 2018) Reference is made to the previous stock exchange release dated 13 December 2017 regarding Self Storage Group ASAs agreement with Eats AS (Eats) to acquire the Minilager Norge group (Minilager Norge). The transaction is now successfully completed. As a consequence of the closing, the Company has issued 1 567 398 new shares to the selling shareholder of Minilager Norge.

Following registration of the new share capital in the Norwegian Register of Business Enterprises, the Company's share capital will be 6,526,268.20, divided into 65,262,682 shares each with a par value of NOK 0.10.

Minilager Norge provides self storage units to private individuals and businesses in the county of Østfold with sites in Moss, Rygge, Sarpsborg and Halden and a total lettable area of 4 300 m2. The company owns the properties in Nøkkeveien 13 in Moss, Gartnerveien 23 in Rygge, Industriveien 23 in Sarpsborg and opened a site in Sørliveien 84 in Halden in September 2017. The Halden site is on a leasehold contract, with Self Storage Group holding the option to acquire the property.

Following the transaction, Self Storage Group operates 89 sites across Scandinavia with a total lettable area of approximately 108,000 m2 with additional 17,000 m2 under development.

For accounting purposes, the acquisition takes effect from 1 January 2018.

Key figures*

(NOK million) 2017

Jan - Oct 2016 2015

Revenues 5.2 4.7 3.7

EBITDA 3.5 2.7 2.0

EBITDA % 68 58 55

EBIT N/A 1.1 0.7

Total assets 21.7 23.0 N/A

*The key figures are pro-forma and adjusted to represent the entities and assets to be acquired by Self Storage Group under the agreement.

The increase of issued shares means that Fabian Holding AS' unchanged holding of 9,565,000 shares and Centrum Skilt AS' unchanged holding of 9.565,000 shares both constitutes 14.66% of the new number of issued shares of the Company. Fabian Holding AS and Centrum Skilt AS are close associates to CEO Fabian Søbak and COO Gustav Søbak, respectively. Ferncliff Invest AS and its subsidiary FEOK AS, companies ultimately controlled by Øystein Stray Spetalen, continue to hold 16,300,000 shares combined, which constitutes 24.98% of the new number of issued shares.

For additional information, please contact:

Martin Nes, Chairman, +47 92 01 48 14

Cecilie Hekneby, CFO, +47 99 29 38 26

About Self Storage Group | www.selfstoragegroup.no

Self Storage Group ASA engages in the business of renting out self storage units to both private individuals and businesses through the two concepts; OK Minilager and City Self-Storage. The company is one of the leading self storage providers in Scandinavia with a particularly strong position in the Norwegian market. Self Storage Group operates 89 sites across Scandinavia with a total lettable area of more than 108,000 square meters.