KMC Properties ASA, a real estate company focusing on industrial and logistics
properties, recorded a rental income of NOK 115 million in the first quarter
2024. This represents a 20 per cent increase from NOK 96 million in the same
period last year, primarily driven by new investments and CPI adjustments.  Net
income from property management including stable administrative expenses and
higher financing costs came in at NOK 44 million, reflecting a 22 per cent
increase compared to the same period last year and KMC Properties' resilient
growth abilities.

At the end of the first quarter 2024, KMC Properties' gross asset value was NOK
6.4 billion. On a pro forma basis, including five announced property
acquisitions, gross asset value amounted to NOK 6.9 billion with a net yield of
7.5 per cent. The announced transactions are fully financed and expected to be
completed in the second quarter 2024. Attractive debt terms are expected to
expand the company's yield gap from 0.57 percentage points at the end of the
first quarter to 0.74 percentage points upon completion.
"We are positioning ourselves to execute on attractive opportunities in the
current real estate market, making steady progress towards our NOK 8 billion
gross asset value target by the end of 2024" says Liv Malvik, CEO of KMC
Properties.

KMC Properties remains committed to its investment strategy, focusing on
properties in Northern Europe with solid tenants in established industries, in
addition to greenfield and capex projects in collaboration with current and new
tenants. Securing attractive financing terms is a vital part of the strategy,
and the company has started to position itself for a potential refinancing of
its NOK 900 million bond with a first call in the first quarter of 2025.

Subsequent to the quarter, Stig Wærnes was appointed interim CEO of KMC
Properties, succeeding Liv Malvik, who informed the board of her decision to
leave the company. The appointment will be effective from 1 June 2024 at the
latest. In addition, Kristoffer Holmen resigned from his CFO-position effective
from 31 July 2024 pursuing an opportunity outside the company.
 
Malvik ends: "Over my four-year tenure at KMC Properties, we have evolved from a
privately-owned real estate company to a robust publicly listed real estate
group, backed by a dedicated team of tenants, employees, investors, and banking
partners. I look forward to witnessing KMC Properties' continued growth and
success." 

Live webcast, today at 10:00 CEST
CEO Liv Malvik and CFO Kristoffer Holmen will present the company's financial
results for the first quarter  at 10:00 am CEST today, Thursday 25 April 2024.
The webcast can be accessed through the following link:

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240425_10 

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, Belgium, Germany 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 25 April 2024.