Asset Buyout Partners Annual Report 2019

Changes in Group structure Acquisitions in 2019 During 2019 ABP has acquired six new properties, further strength- ening our presence in Stavanger, Bergen and Hammerfest, and adding Stord as a new location. The transactions add 33,100sqm and 60,500 sqm of building area and plot, respectively. Acquisitions in 2018 In April 2018 the Group acquired the Mongstad Group. The Mongstad Group is an owner of infrastructure and real estate and a landlord to high activity oil and gas supply bases located at the ports of Mongstad and Dusavik, supporting about 30 oil and gas fields in the North Sea. The transaction comprises about 1.2 million square meters of land and infrastructure including piping for bulk supply, 120,000 square meters of industrial facilities specialized for oil and gas supply base activities and 750 meters of quays. In addition, there is a combined 490,000 square meters of zoned, undeveloped land that provides expansion opportunities for existing as well as new customers. The assets acquired were not considered to constitute a business and the transaction was therefore accounted for as an asset acquisition in accordance with IAS 40. Figures in NOK Note 2019 2018 Cash consideration 592 572 336 3 328 936 435 Deferred consideration 12 - 140 049 493 Total consideration for shares 592 572 336 3 468 985 928 Net cash payment Cash consideration including transaction costs 592 572 336 3 328 936 435 Cash received -4 810 098 -25 731 123 Net cash payment 587 762 238 3 303 205 312 Allocation of purchase price Investment property 8 607 491 416 3 531 219 706 Office equipment - 600 000 Working capital items 20 -10 496 706 -79 725 320 Cash 4 810 098 25 731 123 Other liabilities 20 -9 232 471 -748 556 Financial derivates 20 - 441 219 Deferred tax asset (+) / liability (-) 19 - -8 532 244 Purchase price 592 572 336 3 468 985 928 Asset Buyout Partners | Annual Report 2019 31