KMC Properties ASA, a real estate company focusing on industrial and logistic
properties, today announced the acquisition of a herring production and cold
storage facility in Rönnäng, in the Swedish country of Västra Götaland, from
Klädesholmen Seafood AB for approximately SEK 93.6 million (approximately NOK 90
million).

"KMC Properties welcomes the opportunity to add another property to our
portfolio, in line with our strategy. Klädesholmen Seafood is owned by
Grøntvedt, our third-largest tenant, with offensive growth ambitions," says Liv
Malvik, CEO of KMC Properties. 

Klädesholmen Seafood is a modern herring production company based on generations
of knowledge and experience from the industry and close customer relationships.
KMC Properties will acquire the 19.873 sqm BTA of land and 11.670 sqm BTA of
buildings for approximately SEK 94 million, with a yield-on-cost estimated at
7.5 per cent and lease it to Klädesholmen Seafood. The parties have agreed on a
triple-net bare house agreement, with an initial lease term of 15 years.

Klädesholmen Seafood is owned by Grøntvedt Pelagic AS, which is KMC Properties'
third-largest tenant. Grøntvedt Pelagic is 31 per cent owned by BEWI Invest, who
is represented at the board of Grøntvedt, and the largest shareholder of KMC
Properties. The pre-transaction process and conclusion to proceed with the
transaction has been conducted at arm's length.

Klädesholmen Seafood is the result of a merger between four local family-owned
businesses in 2002. Today, the company's markets span the Scandinavian
countries, Germany, Russia, Australia, Japan, Canada, and Israel, delivering its
specialized herring products to private labels, as well as restaurants and
caterers. In 2020, Klädesholmen had a turnover of approximately SEK 190 million,
of which just over 90 per cent came from the Swedish market.

NOK 30 million of the consideration will be settled by issuance of new shares in
KMC Properties to the seller at a subscription price equal to the volume
weighted average share price for trades in the company's shares on the Oslo
Stock Exchange the last 30 days prior to the date of completion of the
transaction, and the remainder, approximately NOK 64 million will be settled in
cash.  The transaction is subject to confirmatory due diligence.

KMC Properties' portfolio currently consists of 45 assets, primarily in the
Nordics, constituting approximately 370,000 sqm in total. 

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

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, as well as an office building in
Moscow, Russia. 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
19:10 CET on 21 January 2022.

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