KMC Properties ASA, a real estate company focusing on industrial and logistic
properties, recorded rental income of NOK 96 million for the first quarter of
2023, up from NOK 63 million for the first quarter last year, primarily driven
by additional income from new investment properties and CPI and contract
adjustments.   

"In the first quarter of 2023, KMC Properties delivered well on its key
priorities, including our top priority to refinance the company's senior secured
bond loan. We continued the work to integrate the properties recently acquired
and progressed an important project on energy labelling. In addition, we
continue to complete strategic acquisitions, adding five new properties to our
portfolio in Narvik, Denmark, and Finland" says Liv Malvik, CEO of KMC
Properties.  

At the end of the first quarter 2023, the company's investment properties were
valued at NOK 5 993 million, up from NOK 4 009 million at the end of the first
quarter 2022 and from NOK 5 366 million at the end of the previous quarter. For
the period, the increase mainly relates to the acquisition of the properties
from BEWI for NOK 350 million and a property in Narvik for NOK 90 million. In
addition, greenfield and capex investments amounted to NOK 52 million and fair
value adjustments. 

Going forward, KMC Properties' key priority continues to be to complete the
refinancing of the company's senior secured bond loan with maturity in December
this year. Further, the company is focusing on integrating recently acquired
properties, further developing the pipeline of M&A opportunities, and securing
progress in ongoing development projects.  

Please see the full report and presentation for the first quarter of 2023
attached. CEO Liv Malvik and CFO Kristoffer Holmen will present the company's
financial results for the quarter from 10:00 am CEST today, Thursday 4 May 2023,
at the premises of DNB in Bjørvika Oslo, Norway. The presentation is open to
all. The presentation can also be followed through a live webcast from
www.kmcp.no/en/investors. The presentation will be held in English and questions
can be submitted throughout the event. A recording of the webcast will be made
available from the company's website.  

For further information, please contact:  
Liv Malvik, CEO of KMC Properties ASA, tel. +4748003175  
Kristoffer Holmen, CFO KMC Properties ASA, tel. +4792814862  

About KMC Properties ASA KMC Properties, is an Oslo Børs-listed real estate
company focusing on industrial- and logistic properties. The company has a
diversified portfolio of properties in the Nordics and the Netherlands. The
properties are strategically located and have long lease agreements with solid
tenants. KMC Properties has an ambitious strategy to grow the portfolio through
further development of existing properties, as well as M&A initiatives.  

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 4 May 2023.