KMC Properties ASA recorded a rental income of NOK 123 million in the second quarter 2024, representing a 19 per cent increase from NOK 104 million in the same period last year. Property investments and CPI adjustments are the main drivers behind the increase. Net income from property management was impacted by one-off costs transaction costs and came in at NOK 43 million, up 4 per cent compared to NOK 42 million in the same period last year. For the first half 2024, rental income came in at NOK 238 million and net income from property management at NOK 87 million. All operations in the KMC Properties group, including properties and property management organisation, have been acquired by the Nasdaq Stockholm listed real estate company Logistea AB. The combined company will form a leading Nordic logistics, warehouse and light industrial real estate company with strategic focus on long-term growth, financial stability and sustainability. "In the second quarter 2024, KMC Properties completed all announced property transactions and reached a gross asset value of NOK 6.9 billion. By combining with Logistea, the total property portfolio will be NOK 13.2 billion, and the new company formed in Logistea AB will be able to accelerate accretive growth beyond what two could achieve individually," says Stig Wærnes, CEO of KMC Properties. In 2020, KMC Properties listed through a cost- and time effective reverse takeover. The strategic move led to the creation of an Oslo Børs listed real estate company with a NOK 3.1 billion logistics and industrial property portfolio. Since then, the company has executed its ambitious growth strategy and more than doubled its property portfolio through value-accretive acquisitions supported successful private placements. KMC Properties ASA will, following the transaction with Logistea, pursue new opportunities with a different profile. The entity will remain listed on the Oslo Stock Exchange with Stig Wærnes as CEO. For further information, please contact: Christian Linge, tel. +47 466 37 846 The information is such that KMC Properties ASA is required to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:00 CEST on 12 July 2024.