ICA Real Estate and Första AP-fonden form Secore Fastigheter

ICA Real Estate and Första AP-fonden are forming a new, jointly owned property
company, Secore Fastigheter. Initially the company will acquire 13 store
properties from ICA Real Estate Sweden, in which ICA will be the main tenant.
The formation of the jointly owned company is in line with ICA Real Estate’s
strategy to maintain ICA’s influence in the respective marketplaces while
freeing up capital for future investments. The company, which is 50%-owned each
by ICA and Första AP-fonden, will have an initial property portfolio worth
approximately SEK 1.1 billion. The company’s aim is to buy and own ICA stores in
strategic locations. ICA Real Estate Sweden will continue to manage the sold
store properties.

“The formation of Secore Fastigheter together with Första AP-fonden will create
the conditions for ICA to maintain its influence over marketplaces at the same
time that we free up capital,” comments Lena Broberg, CEO of ICA Real Estate.
“We have very positive experience from our joint ownership in Ancore with
Alecta, and we are very happy to have formed an additional collaboration with a
strong and long-term investor.”

Johan Magnusson, CEO of Första AP-fonden, comments: “Real estate is an important
component in Första AP-fonden’s long-term investments. It is therefore
gratifying to enter into this partnership with ICA Gruppen. It gives us an
opportunity to invest in a portfolio of commercial properties that are occupied
under long-term leases.”

The 13 store properties being acquired by the jointly owned company are Maxi ICA
Stormarknad Hässleholm, Maxi ICA Stormarknad Motala, Maxi ICA Stormarknad
Kristinehamn, Maxi ICA Stormarknad Bromölla, ICA Supermarket Simrishamn, ICA
Supermarket Perstorp, ICA Supermarket Sölvesborg, ICA Supermarket Eksjö, ICA
Supermarket Hedemora, ICA Supermarket Alunda, ICA Ettan i Västerås (ICA
Supermarket), ICA Nära Katrineholm and ICA Supermarket Österbybruk, and comprise
a total area of slightly more than 55,000 square metres. The company will be 60%
-financed through external funding.

The sale of these properties by ICA Real Estate will generate a capital gain of
approximately SEK 300 million, of which half will be recognised during the
fourth quarter of 2015. The second half of the capital gain, which will be
treated as an internal gain for accounting purposes, will be recognised
successively over the coming years.

ICA Real Estate has since previously been a partner in the jointly owned
property company Ancore Fastigheter together with the occupational pensions
company Alecta. Ancore Fastigheter’s strategy is to continue growing.

Secore Fastigheter’s acquisition of the 13 store properties is expected to be
completed in December 2015.

Catella Corporate Finance has served as adviser for the transaction.

For more information
ICA Gruppen press service, Telephone number: +46 10 422 52 52

ICA Gruppen discloses the information provided herein pursuant to the Securities
Market Act and/or the Financial Instruments Trading Act. The information was
submitted for publication at 07.00 CET on Thursday, 26 November 2015.
ICA Gruppen AB (publ) is a leading retail company with a focus on food and
health. The Group includes ICA Sweden and Rimi Baltic which mainly conduct
grocery retail, ICA Real Estate which owns and manages properties, ICA Bank
which offers financial services and Apotek Hjärtat which conducts pharmacy
operations. The Group also includes the portfolio companies inkClub and Hemtex.
For more information see icagruppen.se