Oslo, 8 November 2023 - Reference is made to the offer document dated 11 October 2023 (the "Offer Document") for the recommended voluntary offer (the "Offer") by T-C Storage HoldCo AB (the "Offeror") to acquire all of the issued and outstanding shares (the "Shares") in Self Storage Group ASA (the "Company", OSE: SSG) for NOK 40 per Share. The Offer is unanimously recommended by the board of directors of the Company.

The offer period under the Offer (the "Offer Period") will expire tomorrow, 9 November 2023 at 16:30 (CET).

Shareholders who wish to accept the Offer must fill out and return the acceptance form, which is appended to the Offer Document, prior to the expiration of the Offer Period at 16:30 (CET) on 9 November 2023 (subject to any extensions in the sole discretion of the Offeror), and in accordance with procedures set out in the Offer Document.

Completion of the Offer is subject to certain conditions, as further set out under section 2.8 ("Conditions for Completion of the Offer") of the Offer Document, including (but not limited to) the Offer being validly accepted by shareholders of the Company representing, when taken together with any Shares acquired by the Offeror other than through the Offer, more than 90% of the issued, to be issued and outstanding share capital and voting rights of the Company on a Fully Diluted Basis and such acceptances not being subject to any third party consents in respect to pledges or other rights. For purposes of this condition for completion of the Offer, "Fully Diluted Basis" means all issued Shares together with all shares which the Company would be required to issue if all rights to subscribe for or otherwise require the Company to issue additional shares, under any agreement or instrument, existing at or prior to completion of the Offer, were exercised.

The Offer is only capable of being accepted pursuant to the Offer Document, and the complete terms and conditions for the Offer are included in the Offer Document. Subject to regulatory restrictions in certain jurisdictions, the Offer Document is available at the following webpage: www.arctic.com/offerings and may be obtained free of charge during ordinary business hours at the offices of the receiving agent, Arctic Securities AS, Haakon VIIs gate 5, 0161 Oslo, Norway.

About the Offeror

The Offeror, T-C Storage HoldCo AB, is a private limited liability company incorporated and existing under the laws of Sweden with registration number 559324-6720 and registered address Kungsgatan 30, våning 7, 111 35 Stockholm, Sweden. The Offeror is an indirect wholly-owned subsidiary of Teachers Insurance and Annuity Association of America, and is advised by Nuveen Asset Management Europe S.à r.l.

Advisers

Arctic Securities is acting as financial advisor and Advokatfirmaet BAHR is acting as legal advisor for the Offeror. ABG Sundal Collier is acting as financial advisor and Advokatfirmaet Schjødt is acting as legal advisor for the Company. 

Important Notice

The Offer, the Offer Document and the distribution of this announcement and other information in connection with the Offer may be restricted by law in certain jurisdictions. The Offer Document and related acceptance forms have not and may not be distributed, forwarded or transmitted into or within any jurisdiction where prohibited by applicable law, including, without limitation, Canada, Australia, New Zealand, South Africa, Hong Kong and Japan. The Offeror does not assume any responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.

This announcement is not a tender offer document and, as such, does not constitute an offer or the solicitation of an offer to acquire the Shares. Investors may accept the Offer only on the basis of the information provided in the Offer Document. Offers will not be made directly or indirectly in any jurisdiction where either an offer or participation therein is prohibited by applicable law or where any tender offer document or registration or other requirements would apply in addition to those undertaken in Norway.

Shareholders of the Company must rely upon their own examination of the Offer Document. Each shareholder should study the Offer Document carefully in order to be able to make an informed and balanced assessment of the Offer and the information that is discussed and described therein. Shareholders should not construe the contents of this announcement as legal, tax or accounting advice, or as information necessarily applicable to each shareholder. Each shareholder should seek independent advice from its own financial and legal advisors prior to making a decision to accept the Offer.

Notice to U.S. Holders

U.S. Holders (as defined below) are advised that the Shares are not listed on a U.S. securities exchange and that the Company is not subject to the periodic reporting requirements of the U.S. Securities Exchange Act of 1934, as amended (the "U.S. Exchange Act"), and is not required to, and does not, file any reports with the U.S. Securities and Exchange Commission (the "SEC") thereunder. The Offer will be made to holders of Shares resident in the United States ("U.S. Holders") on the same terms and conditions as those made to all other holders of Shares of the Company to whom an offer is made. Any information documents, including the Offer Document, will be disseminated to U.S. Holders on a basis comparable to the method that such documents are provided to the Company's other shareholders to whom an offer is made. The Offer will be made by the Offeror and no one else.

The Offer will be made to U.S. Holders pursuant to Section 14(e) and Regulation 14E under the U.S. Exchange Act as a "Tier II" tender offer, and otherwise in accordance with the requirements of Norwegian law. Accordingly, the Offer will be subject to disclosure and other procedural requirements, including with respect to the offer timetable, settlement procedures and timing of payments, that are different from those that would be applicable under U.S. domestic tender offer procedures and law.

Pursuant to an exemption from Rule 14e-5 under the U.S. Exchange Act, the Offeror and its affiliates or brokers (acting as agents for the Offeror or its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase or arrange to purchase, Shares or any securities that are convertible into, exchangeable for or exercisable for such Shares outside the United States during the period in which the Offer remains open for acceptance, so long as those acquisitions or arrangements comply with applicable Norwegian law and practice and the provisions of such exemption. To the extent information about such purchases or arrangements to purchase is made public in Norway, such information will be disclosed by means of an English language press release via an electronically operated information distribution system in the United States or other means reasonably calculated to inform U.S. Holders of such information. In addition, the financial advisors to the Offeror may also engage in ordinary course trading activities in securities of the Company, which may include purchases or arrangements to purchase such securities.

Neither the SEC nor any securities supervisory authority of any state or other jurisdiction in the United States has approved or disapproved the Offer or reviewed it for its fairness, nor have the contents of the Offer Document or any other documentation relating to the Offer been reviewed for accuracy, completeness or fairness by the SEC or any securities supervisory authority in the United States. Any representation to the contrary is a criminal offence in the United States.