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INDIRECTLY, IN AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF
THE PEOPLE'S REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN OR THE UNITED
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DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER
TO BUY, SELL OR SUBSCRIBE FOR ANY SECURITIES DESCRIBED HEREIN.

22 June 2022: Aurora Eiendom AS ("Aurora" and the "Company) refers to the
separate release today in connection with the acquisition of the two shopping
centers Gulskogen and Arkaden, in addition to 25 per cent of Maxi Hamar (the
"Acquisition"). 

Aurora has engaged DNB Markets, a part of DNB Bank ASA, SpareBank 1 Markets AS,
and Pangea Property Partners AS, as joint lead managers (together, the
"Managers") to advise on and effect a contemplated private placement (the
"Private Placement") of NOK 530 - 650 million in new ordinary shares in Aurora
(the "New Shares"). The offer price in the Private Placement (the "Offer Price")
will be NOK 93 per share.

Certain investors have pre-committed to subscribe for New Shares in the Private
Placement in an amount exceeding NOK 530 million, of which pre-commitments of
investment companies managed by Aurora's Board of Directors, including
Strawberry Shopping AS, Eiendomsspar AS, Joh Johannson Eiendom AS, Varner Invest
AS and Alti Invest AS, represents NOK 408 million. As such, the Private
Placement is covered within the offer range. 

The net proceeds of the Private Placement will be used to partly finance
Aurora's acquisition of the two shopping centers Gulskogen and Arkaden, in
addition to 25 per cent of Maxi Hamar, in line with Aurora's strategy for
expansion, as well as for general corporate purposes. The pre-commitment in the
Private Placement is sufficient for financing of the equity portion of the
Acquisition. The remaining portion of the purchase price of the Acquisition will
be financed by bank debt, a vendor loan from Steen & Strøm and the CompanyŽs
cash reserves. 

The application period in the Private Placement opens today, on 22 June 2022 at
09:00 CEST and ends on 24 June 2022 at 16:30 CEST. Aurora may, in its own
discretion, extend or shorten the application period at any time and for any
reason.

The Private Placement will be directed towards selected Norwegian and
international investors (a) outside the United States in reliance on Regulation
S under the U.S, Securities Act of 1933, as amended (the "U.S. Securities Act"),
and (b) to investors in the United States who are "qualified institutional
buyers" ("QIBs") as defined in Rule 144A under the U.S. Securities Act, in each
case subject to an exemption being available from prospectus requirements and
any other filing or registration requirements in the applicable jurisdictions
and subject to other selling restrictions. The minimum application and
allocation amount have been set to the NOK equivalent of EUR 100,000 per
investor. The Company may, however, at its sole discretion, allocate an amount
below EUR 100,000 to the extent applicable exemptions from the prospectus
requirements pursuant to the Norwegian Securities Trading Act and ancillary
regulations are available. Further selling restrictions and transaction terms
will apply.

Completion of the Private Placement is subject to (i) the purchase agreement
pertaining to the Acquisition not having been terminated or otherwise having
become void, (ii) the corporate resolutions of Aurora required to implement the
Private Placement, including, but not limited to, the approval by the Company's
board of directors (the "Board) of the Private Placement and allocation of the
New Shares