Lindex Group (LINDEX) Status update summary

Property sale

• Agreed to sell the Helsinki city-centre department store property to Keva for EUR 400 million; approximately EUR 391 million payable at closing, with the balance reflected in rent over the next few years. Net yield ~4.2%.

• Completion expected by end-April 2022 at the latest, subject to customary closing conditions.

Debt repayment and leaseback

• Sale proceeds to fully repay EUR 342.6 million of secured restructuring debt and EUR 21.8 million of undisputed unsecured restructuring debt under the payment programme.

• Stockmann will continue department store operations throughout the building under a long-term leaseback; tenant leases continue under the current concept.

• The property has approximately 51,500 square metres of leasable area and was completed in 1930.