3.12.2021 08:30:01 CET | Entra ASA | Inside information

Reference is made to the announcement by Entra dated 5 November 2021, referring
to Entra being one of several interested parties in acquiring Oslo Areal AS
("Oslo Areal"). Entra is pleased to announce that it has entered into a binding
agreement with Gjensidige Forsikring ASA ("Gjensidige") and AMF
Pensionsförsäkring AB ("AMF") to acquire 100 % of the shares in Oslo Areal for
approximately NOK 13.55 bn. The transaction will be financed through existing
and new debt facilities.

Oslo Areal is an owner and developer of office properties in and around Oslo.
The company owns 17 office properties of which 15 are centrally located in Oslo
and two in Sandvika just outside Oslo. The property portfolio totals 222,000 sqm
of gross lettable area and has a significant development potential with ongoing
zoning of up to 95,000 sqm and additional long term development potential of
approximately 45,000 sqm. The office portfolio is currently 94.4 % let with a
WAULT of 4.7 years. 12 months rolling rent is estimated to be around NOK 464
million. The company has 14 employees.

"Oslo Areal is a perfect strategic fit for Entra, both in terms of portfolio
location and its significant inherent development potential. This transaction
enables additional profitable growth and increased shareholder values in Entra
going forward by utilizing our strong balance sheet, says Siri Hatlen, Chair of
the Board in Entra"

"Oslo Areal holds an attractive office portfolio with a project pipeline which
is complimentary to Entra's existing portfolio. We see Oslo Areal as a smaller
version of Entra and the company will significantly strengthen Entra's market
position in Oslo. The transaction will create shareholder and tenant values far
beyond regular single-asset transactions, says Sonja Horn, CEO in Entra". 

«We are very pleased to have reached an agreement with Entra. We are convinced
that this will create further room for Oslo Areal's strategic development, says
Helge Leiro Baastad, CEO in Gjensidige". 

                      | Entra             | Oslo Areal       | Combined         
--------------------------------------------------------------------------------
Rental income YTD Q3  | 1,832             | 356              | 2,188            
2021                  |                   |                  |                  
--------------------------------------------------------------------------------
Net operating income  | 1,660             | 318              | 1,978            
YTD Q3 2021           |                   |                  |                  
--------------------------------------------------------------------------------
                      |                   |                  |                  
--------------------------------------------------------------------------------
No. of properties     | 96                | 17               | 113              
--------------------------------------------------------------------------------
Total portfolio value | 64,139            | 13,550           | 77,689           
(NOKm)                |                   |                  |                  
--------------------------------------------------------------------------------
Gross lettable area   | 1,213,015         | 222,331          | 1,435,346        
(sqm)                 |                   |                  |                  
--------------------------------------------------------------------------------
12 months rolling     | 2,709             | 464              | 3,173            
rent (NOKm)           |                   |                  |                  
--------------------------------------------------------------------------------
WAULT (years)         | 6.9               | 4.7              | 6.6              
--------------------------------------------------------------------------------
Public sector share   | 58 %              | 32 %             | 54 %             
of GRI (%)            |                   |                  |                  
--------------------------------------------------------------------------------
Gross project area    | 300,000 - 350,000 | 95,000 - 140,000 | 395,000 - 490,000
(sqm)3                |                   |                  |                  

The transaction is subject to customary clearance from the Norwegian Competition
Authority and is expected to close in medio January 2022.

Pangea Property Partners has acted as financial and transaction advisor, the law
firm Schjødt has acted as legal advisor, and Ernst & Young has acted as
financial due diligence advisor to Entra.

Entra invites to a webcast-presentation of the Oslo Areal acquisition today
Friday 3 December at 10:30 CET. For participation, please register via the
following link:

https://attendee.gotowebinar.com/register/1348158905255991824. 

CEO Sonja Horn and CFO Anders Olstad will host the webcast and will be available
for a Q&A session at the end of the webcast.

The presentation is enclosed and can be download from Entra's IR-site following
today's webcast.

For further information please contact:

Sonja Horn, CEO, + 47 905 68 456, sh@entra.no

Anders Olstad, CFO, +47 900 22 559, ao@entra.no

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation. This stock exchange announcement was published by Tone
Omsted, Head of Investor Relations at Entra ASA, on 3 December, 2021 at 08:30
CET.



DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

ABOUT ENTRA ASA

Entra is a leading owner, manager and developer of office properties in Norway.
Entra owns and manages around 90 buildings totalling approximately 1.3 million
square meters, located in Oslo and the surrounding region, Bergen, Stavanger and
Trondheim. Entra has a solid customer portfolio with a high proportion of public
tenants. The company's strategy is focused on delivering profitable growth, high
customer satisfaction and environmental leadership

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/16126567/1038/1393/Download%20announcement
%20as%20PDF.pdf

Presentation of Oslo Areal.pdf -
https://kommunikasjon.ntb.no/ir-files/16126567/1038/1392/Presentation%20of%20Osl
o%20Areal.pdf