Genova Property Group AB (publ): Genova initiates share buy-back programme

At the Annual General Meeting of Genova Property Group AB (publ) ("Genova" or the "Company") held on 2 May 2024, the Board was authorised to, during the period until the next Annual General Meeting, resolve on repurchase of the Company's own ordinary shares. The Board of the Company has decided to exercise the authorisation and initiate a share buy-back programme of own ordinary shares. The repurchases will commence on 29 November 2024 and continue until the Annual General Meeting of 2025 at the latest.

Terms and conditions for repurchase of own ordinary shares
According to the Board's decision, the Company's acquisition of own ordinary shares shall be made on Nasdaq Stockholm in accordance with Nasdaq Stockholm's Rulebook for Issuers and other applicable rules as well as the following terms and conditions:

• Repurchases may be made on one or more occasions before the next Annual General Meeting.
• Repurchases shall be made at a price per ordinary share within the prevailing price interval for the ordinary shares on Nasdaq Stockholm.
• Repurchases may be made for a maximum amount of in total SEK 30 million, provided that the Company's holding of own shares may amount to a maximum of ten percent of all shares in the Company.
• Payment for the ordinary shares shall be made in cash.

The repurchases will be made by Carnegie, which will decide on the timing of the repurchases of ordinary shares independently of Genova.

The purpose of the buy-back of own ordinary shares
Genova's overall objective is to achieve average annual growth in long-term net asset value per share and income from property management per share of at least 20 per cent per year. On 30 September 2024, Genova communicated an updated strategy whereby previous operational targets on commencing constructions were abandoned in favour of a prioritised focus on value creation, where opportunities are created, through growth per share. The purpose of the share buy-back programme is to create additional shareholder value by customising the Company's capital structure to its current capital requirements, while increasing growth per share as a result of fewer outstanding shares. Repurchased shares may also be used as consideration for, or financing of, acquisitions (including payment of any earn-outs).

Total number of shares in the Company and the Company's holding of own shares
Repurchases may, in accordance with the authorisation, be made of such maximum amount of ordinary shares that the Company's holding of own ordinary shares, following the purchase, amounts to a maximum of ten percent of all shares in the Company. The total number of shares in the Company is 45,613,329 ordinary shares and 0 preference shares. Genova does not currently hold any own shares, which means that a maximum of 4,561,332 ordinary shares may be acquired under the authorisation.

For further information, please contact:
CEO, Michael Moschewitz, mobile +46 (0)70-713 69 39, michael.moschewitz@genova.se

This information is such information that Genova Property Group AB (publ) is obligated to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on 29 November 2024 at 8:00 a.m. CET.

About Genova
Genova Property Group AB (publ) is a dynamic property company with extensive expertise in various segments of the property market. The company aims to drive sustainable value growth through active property management, urban development, project development and property transactions in Sweden. As of 30 September 2024, Genova owned properties valued at approximately SEK 9.5 billion and the company held a substantial building rights portfolio. Genova's share has been listed on Nasdaq Stockholm since 2020.

Genova - Smålandsgatan 12 - SE-111 46 Stockholm - www.genova.se