Castellum AB (publ) (OM:CAST) made a public offer to acquire Kungsleden AB (publ) (OM:KLED) from Gösta Welandson, Ilija Batljan, Olle Florén, Rutger Arnhult and others for SEK 26.9 billion on August 2, 2021. Under the terms of transaction, offer consideration consists of a combination of shares in Castellum and cash subject to the potential adjustment. In respect of 70% of the number of Kungsleden shares tendered by such shareholder will receive 0.525 shares in Castellum per Kungsleden share and remaining 30% of the number of Kungsleden shares tendered by such shareholder will receive SEK 121 in cash per Kungsleden share. Castellum offers the shareholders in Kungsleden a so-called mix & match facility, whereby each shareholder in Kungsleden, subject to the restrictions set out below, may elect to receive as much share consideration as possible or as much cash consideration as possible for their Kungsleden shares. In aggregate, up to a total of 79.03 million shares in Castellum will be issued as consideration in the Offer, and up to a total of approximately SEK 7.8 billion will be paid in cash. The Offer, regarding the total cash consideration payable under the Offer, is fully financed by Castellum's own available funds and a new bridge facility arranged by Nordea Bank Abp, filial i Sverige. Castellum has signed a bridge loan of SEK 8 billion to fund the transaction. Following the completion of the combination, the Board of Directors in Castellum will offer Biljana Pehrsson, Chief Executive Officer of Kungsleden, and Ylva Sarby Westman, Deputy Chief Executive Officer and Chief Financial Officer of Kungsleden, to become Chief Executive Officer and Deputy Chief Executive Officer, respectively, for the combined company. Transaction is subject to customary closing conditions, including Offer being accepted to such an extent that Castellum becomes the owner of shares representing more than 90% of the total number of outstanding shares in Kungsleden; extraordinary general meeting in Castellum resolves, with the required majority, on the necessary resolutions to enable the issuance of new shares in Castellum in connection with the Offer; no other party announcing an offer to acquire shares in Kungsleden on terms that are more favorable to the shareholders of Kungsleden than the Offer; receipt of all necessary regulatory, governmental or similar clearances, approvals decisions and other actions from authorities or similar, including from competition authorities; Kungsleden not taking any action that is likely to impair the prerequisites for making or completing the Offer. Board of Directors of Kungsleden unanimously recommends the shareholders of Kungsleden to accept the Offer. As on August 27, 2021, shareholder of Castellum AB (publ) authorize the Board of Directors to, on one or several occasions prior to the next Annual General Meeting, resolve on a new share issues with the right and obligation to be paid by contribution in kind, consisting of shares in Kungsleden Aktiebolag, to Castellum by reason of Castellum's public takeover offer for all shares in Kungsleden Aktiebolag. The recommendation is supported by a fairness opinion provided by Handelsbanken Capital Markets. Gösta Welandson, Ilija Batljan and Olle Florén representing approximately 26% of the outstanding share capital and votes in Kungsleden have irrevocably undertaken to accept the Offer. Rutger Arnhult, representing approximately 21.4% of the outstanding share capital and votes in Castellum, has undertaken to, at the extraordinary general meeting to be held in Castellum, vote in favor of authorising the Board of Directors to issue shares in Castellum as consideration for the Offer. Corem Property Group AB representing approximately 3.3% of the outstanding shares and votes in Castellum, has expressed its support for and is positive to the Offer. The Offer is not subject to any financing condition. As September 13, 2021, the transaction has received the necessary competition clearance from the Swedish Competition Authority (Sw. Konkurrensverket). As of September 29, 2021, the offer has been approved by the Swedish Financial Supervisory Authority. As a result, Castellum has obtained all necessary regulatory, governmental or similar clearances, approvals, decisions and other actions from authorities or similar, including from competition authorities. The acceptance period in the Offer is expected to commence on or around September 30, 2021 and end on or around October 29, 2021. The acceptance period for the Offer ended on October 29, 2021, been accepted by shareholders representing approximately 78.8% of Kungsleden. The shares in Kungsleden tendered in the Offer at the end of the acceptance period, together with the shares in Kungsleden acquired by Castellum on the market, corresponds to approximately 88.7 per cent of the outstanding share capital and voting rights in Kungsleden. Castellum has decided to extend the acceptance period for the Offer up to and including November 9, 2021 to allow remaining shareholders to accept the Offer and settlement is expected to commence on or around November 15, 2021. As of November 9, 2021, All conditions for completion of the Offer have been fulfilled. Accordingly, the Offer is declared unconditional in all respects and Castellum will complete the acquisition of the shares tendered in the Offer and Castellum extended the acceptance period for the Offer up to and including November 18, 2021. Castellum will initiate compulsory redemption of the remaining shares in Kungsleden as well as promote a delisting of Kungsleden's shares from Nasdaq Stockholm. Kungsleden Aktiebolag will be removed from the Index effective Monday, November 15, 2021 with last inclusion date of Friday, November 12, 2021.

Lenner & Partners and Nordea Bank Abp, filial i Sverige are acting as financial advisors in connection with the Offer and Pontus Enquist, Veronica Stiller, Kristian Hugmark and Jenny Welander Wadström of Roschier Advokatbyrå AB is legal adviser to Castellum in connection with the Offer. SEB Corporate Finance acted as financial advisor, Handelsbanken Capital Markets acted as fairness opinion provider and Tone Myhre-Jensen, Per Henriksson and Fredrik Lindblom of Cederquist as legal advisor for Kungsleden in connection with the Offer. SEB Corporate Finance advised the Board of Directors of Kungsleden AB.