NOT FOR DISTRIBUTION, RELEASE OR PUBLICATION, IN WHOLE OR IN PART, IN OR INTO ANY JURISDICTION IN WHICH THE DISTRIBUTION, RELEASE OR PUBLICATION WOULD BE UNLAWFUL OR REQUIRE PRIOR APPROVAL. The boards of directors of KMC Properties ASA ("KMCP") and BEWI Invest AS ("BEWI Invest", OSE ticker: BINT) have today signed a merger plan (the "Merger Plan") for a statutory all-share merger pursuant to Chapter 13 of the Norwegian Public Limited Liability Companies Act (the "PLC Act"), with KMCP as the surviving legal entity (the "Merger"). KMCP will, upon completion of the Merger, acquire and assume all assets, rights and obligations of BEWI Invest, in exchange for the shareholders of BEWI Invest receiving new shares in KMCP as merger consideration (the "Merger Consideration"). The combined entity following completion of the Merger is referred to herein as the "Combined Company". It is intended that the Combined Company remain listed on Euronext Oslo Børs, alternatively Euronext Expand, under the company name "BEWI Invest ASA". The purpose of the Merger is to facilitate a listing of the business of BEWI Invest on Euronext Oslo Børs, alternatively Euronext Expand, through the Combined Company. To facilitate a capital structure suitable for the Combined Company after completion of the Merger, and to ensure a minimum market value of the shares in the Combined Company of minimum NOK 10.00, the board of directors of KMCP has resolved to propose that the general meeting of KMCP resolves to carry out a reverse share split (share consolidation) in the ratio 6:1 (the "Reverse Share Split"). Subject to completion of the Reverse Share Split, KMCP will have 939,664 shares in issue, each with a nominal value of NOK 12.00. For the purpose of the Merger, the parties have agreed on a value of KMCP of NOK 32,700,307.20, i.e. NOK 34.80 per share (following the Reverse Share Split), which reflects the price per share of NOK 5.80 offered by Bekken Invest AS in the mandatory offer for KMCP dated 9 October 2025. Further, the parties have agreed on a value of BEWI Invest of NOK 3,549,480,601.20, i.e. NOK 270.77 per share in that company. The value of BEWI Invest is based on (i) an agreed value for BEWI Invest's shareholding in BEWI ASA based on historical trading prices and a control premium ; (ii) an external valuation of BEWI Invest's indirect ownership in Sinkaberg AS ; (iii) the net asset value on the initial 46% ownership in Corvus Estate AS and an agreed exchange ratio for the remaining 54% ; and (iv) the cost price for BEWI Invest's investments in unlisted companies. This implies a share-for-share exchange ratio equal to 7.781 shares in KMCP per share in BEWI Invest. BEWI Invest shares held in treasury by BEWI Invest have not been assigned any value and no Merger Consideration will be issued in respect of treasury shares. Immediately following completion of the Merger and prior to the issuance of any new shares in the Offering (as defined below), approximately 99.09% of the shares in the Combined Company will be held by shareholders of BEWI Invest. Bekken Invest AS, as the majority shareholder of both BEWI Invest and KMCP, holding approximately 53.12% of the shares in BEWI Invest and approximately 54.72% of the shares in KMCP, will hold approximately 53.14% of the shares in the Combined Company. In addition, there are 58 other shareholders in BEWI Invest and 2,439 other shareholders in KMCP (as of 7 January 2026). To ensure that the Combined Company meets the requirements with respect to minimum number of shareholders required for a listing on Euronext Oslo Børs or alternatively Euronext Expand, KMCP, in consultation with BEWI Invest, intends to make a public offer by inviting investors to subscribe for new shares in the Combined Company (the "Offering"). The Offering will be designed to secure that a sufficient number of shareholders will hold shares in the Combined Company with a value of at least NOK 10,000. The Offering will be carried out on terms approved by the board of directors of KMCP, in consultation with BEWI Invest, and will be contingent on completion of the Merger. The board of directors of KMCP has resolved in a meeting held today that it will propose that the general meeting of KMCP resolves an increase of the share capital of minimum of NOK 1,000,008 and maximum NOK 75,000,000, by the issuance of minimum 83,334 and maximum 6,250,000 new shares, each with a par value of NOK 12, in connection with the Offering. The Offering shall not affect the exchange ratio in the Merger. More information about the Offering will be provided in due course. Completion of the Merger is subject to, inter alia, the following conditions: (i) approval of the Merger Plan by the extraordinary general meetings of each party ; (ii) the preference shares held in treasury by BEWI Invest being redeemed without any distribution in connection with the redemption ; (iii) the six-weeks creditor period pursuant to Section 13-15 of the PLC Act having expired and any objections from creditors having been dealt with in accordance with the PLC Act ; (iv) the subscription period in the Offering having been completed and new shares in the Combined Company have been allocated to subscribers resulting in the number of shareholders in the Combined Company following completion of the Merger and the Offering satisfying the requirements for admission to trading on Euronext Oslo Børs or alternatively Euronext Expand ; (v) Oslo Børs approving continued listing on Euronext Oslo Børs of the shares of the Combined Company or the application for admission to trading of the shares on Euronext Oslo Børs or, alternatively, Euronext Expand ; and (vi) the Financial Supervisory Authority of Norway having approved a prospectus for, inter alia, the listing of the consideration shares to be issued in connection with the Merger. The Merger is expected to be resolved by the general meetings of each of KMCP and BEWI Invest on or about 9 February 2026. It is further expected that first day of trading in the Combined Company will occur in early Q2 2026, following completion of the Merger. Reference is made to the attached Merger Plan for more information about the Merger. A notice of the extraordinary general meeting to be held in KMCP in connection with the Merger will be published separately. "Today's board decision is an important milestone in fulfilling BEWI Invest's strategy of becoming a listed, long-term partner for companies involved primarily in industrial production, real estate, and seafood. Becoming listed is a natural step in the development of the company, and we look forward to sharing further details as we progress", says Bjørnar André Ulstein, CEO of BEWI Invest. Advisors Danske Bank A/S NUF and DNB Carnegie, a part of DNB Bank ASA, are acting as financial advisors to BEWI Invest and SpareBank 1 Markets AS is acting as financial advisor to KMCP in relation to the Merger. Advokatfirmaet Thommessen AS is acting as legal advisor to BEWI Invest and Advokatfirmaet Arntzen Grette AS is acting as legal advisor to KMCP in relation to the Merger. For additional information, please contact: Christian Linge, CEO of KMC Properties ASA, +47 466 37 846 / christian.linge@kmcp.no ; or Bjørnar André Ulstein, CEO of BEWI Invest AS, +47 402 30 785 / bau@bewiinvest.com Information in this announcement is considered inside information pursuant to EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR Article 17 and Section 5-12 of the Norwegian Securities Trading Act. This announcement was published by Christian Linge, CEO of KMCP, at 23:45 (CET) on 8 January 2026. About BEWI Invest AS BEWI Invest AS is a Norwegian industrial owner with a portfolio mainly comprised of companies operating within three key segments: industrials, real estate, and seafood. The group has a long-term perspective and has demonstrated a proven track record of value creation and growth. Through active and responsible ownership, BEWI Invest AS has been instrumental in the growth and value creation in its portfolio companies with sustainability at the core. For more information visit www.bewiinvest.com. Important information This announcement is issued for information purposes only and does not form a part of any offer to sell, or a solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities in any jurisdiction, nor does it constitute notice to a general meeting or a merger plan. Neither this announcement nor the information contained herein is for publication, distribution or release, in whole or in part, directly or indirectly, in or into or from the United States (including its territories and possessions, any State of the United States and the District of Columbia), Australia, Canada, Japan, Hong Kong, the Philippines, South Africa or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. The publication, distribution or release of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. The securities mentioned herein, including the consideration shares expected to be issued as part of the proposed Merger (if completed), have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act or in a transaction not subject to the US Securities Act. Any decision with respect to the proposed Merger should be made solely on the basis of information to be contained in the actual notices to the general meetings of KMCP and BEWI Invest, respectively, and the Merger Plan (including ancillary documents) related to the Merger. 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 "believe", "expect", "anticipate", "strategy", "intends", "estimate", "will", "may", "continue", "should" and similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they reflect the companies' current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. No assurance can be given that such expectations will prove to have been correct. The information, opinions and forward-looking statements contained in this announcement speak only as at its date and are subject to change without notice. Neither KMCP, Bekken Invest AS nor BEWI Invest undertakes any obligation to review, update, confirm, or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this announcement or otherwise. 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 KMCP or otherwise.