In connection with expiry of the existing TRS, Carucel Invest AS, a company controlled by Carl Erik Krefting who is a board member of Norwegian Property ASA (NPRO), has on January 12, 2021 entered into a TRS agreement relating to 4 262 801 shares in NPRO. Pursuant to the TRS agreement the exercise price is NOK 13 per share and the termination date is January 14, 2022. Following the transaction Carucel Invest AS will have rights related to 4,262,801 shares through the TRS agreement and will continue to own 356,664 shares, in aggregate equal to 0.71% of the share capital of NPRO. In addition Krefting has options which need to be exercised within 19 October 2021 for subscription of 500,000 shares in NPRO as follows: 333,333 of the options are exercisable, while the remaining 166,667 options will be exercisable from 19 April 2021.