NAV development

Net asset value (NAV) per share in North Bridge Nordic Property 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:

NAV NBNP AS

Please note that North Bridge Nordic Property AS was demerged effective from 20 September 2012, i.e., after the last calculation of NAV in the table above. The conversion ratio in the demerger was 60,92 % for North Bridge Nordic Property AS and 39,08 % for NBNP AS. It should also be taken into account that on 20 December 2012, NOK 18 per share was paid to the company’s shareholders from the demerged company NBNP 2 AS.

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