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Notice of waiver for notes issued by Fastighetsbolaget Emilshus AB (publ)

1 July 2021

To the holders of the maximum SEK 500,000,000 senior unsecured floating rate notes 2019/2022 with ISIN SE0013409265 initially issued by Fastighetsbolaget Emilshus AB (publ) (the “Issuer”) on 9 December 2019 (the “Notes”).

In order for the Issuer to be able to enter into a subordinated shareholder loan agreement with a total loan amount of SEK 250,000,000 (the “Loan Amount”) with its shareholder (and large noteholder) AB Sagax (“Sagax”), where part of the Loan Amount was be repaid on 30 June 2021 (the “Loan”), the Issuer has requested that the Agent waive the restriction on cash repayment of Subordinated Shareholder Debt set out in Clause 11.2.1 of the Terms and Conditions in relation to the Loan (and not in relation to any other Subordinated Shareholder Debt) (the “Waiver”).

The Loan Amount was used by the Issuer to finance acquisitions of properties which are deemed by the Issuer to provide added value to the Issuer. In addition, approximately SEK 100,000,000 of the Loan Amount was on 30 June 2021 used by Sagax to pay, by way of set-off, for the subscription for new preference shares in the Issuer. Furthermore, NP3 Fastigheter AB subscribed for new preference shares in the Issuer in an amount of approximately SEK 50,000,000. Consequentially, the Loan thus enabled, in addition to the SEK 250,000,000 acquisition financing the Loan entails, a totality of transactions resulting in the Issuer receiving an equity injection of approximately SEK 150,000,000. In light of the above, the Issuer deems an approval of the Waiver to be positive for the Issuer and the Noteholders.

At the request of the Issuer, the Agent has, in accordance with paragraph (a) of Clause 18.1 of the Terms and Conditions, agreed to the Waiver. The Agent does not consider the Waiver to be detrimental to the interest of the Noteholders as a group.

The Waiver is effective as of 30 June 2021 and will lapse on 1 July 2021.

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