Oslo ,11 July 2024 : The Board of Directors (the "Board") ofKMC Properties ASA ("KMCP" or the "Company") has been informed byMorten E. Astrup that he has decided to resign from the Board. "Following 16 eventful years, I have today decided to withdraw from the board of directors ofKMC Properties as the assets of the Company have been sold toLogistea in consideration for shares that will subsequently be distributed to the Company's shareholders. With a solid order backlog, the combined company stands out as one of a few property companies in the Nordics that can withstand today's high floating interest rate levels and at the same time does not have a dominant owner holding a majority of the voting shares, as most comparable Swedish real estate companies do. This is an important reason whySurfSide Holding has agreed to receive shares inLogistea , which will probably be a more liquid investment than the shares inKMC Properties prior to the transaction" saysMorten E. Astrup . "We are grateful for all the valuable contributions made byMorten E. Astrup during all his years on the Board. His long-term views, analytic approach and focus have been highly appreciated by the Board" saysBjørnar André Ulstein , chair of the Board. FollowingMorten E. Astrup's resignation from the Board, the Board will comprise ofBjørnar André Ulstein (chair),Hege Buer ,Marianne Bekken , Mia Arnhult and Jonas Grandér. For additional information, please contact: Stig Wærnes +47 915 66 386 stig.warnes@kmcp.no This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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