NAV development

Net asset value (NAV) per share in NBNP2 AS is calculated on the basis of external valuations of the entire property portfolio. The calculation of NAV is made by deducting debt from gross property values, and an adjustment is made for net working capital in latent income tax and the market value of financial instruments. NAV is an expression for the net realizable value per share in the company, based on external valuations. The table below shows the development of NAV and other key ratios related to the company’s equity: