Eastnine Ab · OMXSTO:EAST

Eastnine Ab — Q3 2026 Earnings Presentation

25 slides from Eastnine Ab's earnings presentation, Oct 22, 2026

  1. Slide 1: Interim report presentation January-September 2026

    Interim report presentation January-September 2026

  2. Slide 2: Acquisition of The Bridge

    Acquisition of The Bridge Completed in late September 2026 40 ~55,000 98 % storeys, office property in sq.m. lettable area signed occupancy, nine tenants Warsaw CBD 57 % Q4 2027 ≥ 10 yrs occupancy as of 30 September expected completion of signed secured cash flows after full 2026 tenant move-ins mov

  3. Slide 3: Highlights Q3 2026

    Highlights Q3 2026 The Bridge acquired, like-for-like rental growth and higher loan-to-value Q3 2026 JAN–SEP 2026 EUR 15.4m EUR 46.1m RENTAL INCOME −0.5% / +3.2% LFL −0.3% / +1.4% LFL 6.21 % yield NET OPERATING INCOME EUR 13.9m EUR 42.1m 91.1 % −4% −3% surplus ratio Jan-Sep 2026 EUR 8.5m EUR 23.4m P

  4. Slide 4: Eastnine at a glance

    Eastnine at a glance Building a leading office provider in the fastest growing part of Europe Premium office properties in prime locations. Stockholm (HQ) Fast-growing markets in Warsaw, Poznan, Vilnius and Riga. Listed at Nasdaq Stockholm 313 EUR 1,174m 88.31 % Riga LEASABLE AREA, ’000 SQ.M. PROPER

  5. Slide 5: Proven growth and strategy execution

    Proven growth and strategy execution The Bridge expands the portfolio – making Warsaw our biggest market Investment properties EURm Profit per share from property management¹ EUR Property acquisitions while transforming from investment company Expansion in Warsaw After The Bridge move-ins in Q4 2027

  6. Slide 6: Long-term trends

    Long-term trends

  7. Slide 7: Poland has grown 42% since 2015 - the EU 17%

    Poland has grown 42% since 2015 - the EU 17% Real GDP growth, index 2015 = 100, and average annual GDP growth in Eastnine’s cities +42% +37% +19% +17% +16% Poland Lithuania Latvia EU average Sweden AVERAGE ANNUAL GDP GROWTH 2010–2025, % 145 135 Vilnius 4.7% 125 Warsaw 4.3% 115 Poznan 4.2% 105 Riga 3

  8. Slide 8: Good prospects for growth in Warsaw and Poznan

    Good prospects for growth in Warsaw and Poznan Average annual GDP growth, 2026–30 Eastnine’s Polish markets, Warsaw and Poznan, are highlighted on the map. The darkest shading marks the highest expected average annual growth. Warsaw and Poznan Source: Oxford Economics

  9. Slide 9: Lower rents and higher yields, with a gap expected to narrow

    Lower rents and higher yields, with a gap expected to narrow Prime offices in Eastnine’s markets compared with major European cities Prime office rent, EUR/sq.m./month Prime office yield, % Stockholm 73.3 Stockholm 4.0% Munich 60.0 Munich 4.4% Frankfurt 55.0 Frankfurt 4.9% Berlin 45.0 Berlin 4.6% Wa

  10. Slide 10: Attractive pricing and new supply well below historic levels

    Attractive pricing and new supply well below historic levels Prime office values (EUR/sq.m.) and new office completions in Warsaw (sq.m.) Prime office values, EUR/sq.m. New office completions in Warsaw, sq.m. Stockholm 22,300 400,000 Munich 17,800 Berlin 13,600 300,000 Frankfurt 13,600 200,000 Oslo

  11. Slide 11: Prime offices portfolio

    Prime offices portfolio

  12. Slide 12: Vilnius

    4 5 6 7 8 Vilnius 1 S7-1 2 S7-2 1 3 S7-3 2 4 3Bures-1,2 5 3Bures-3 6 Uniq 3 7 Vertas-1 8 Vertas-2

  13. Slide 13: Vilnius Uptown Park

    Vilnius 9 Uptown Park eastnine O

  14. Slide 14: Poznan

    10 11 Poznan 10 Nowy Rynek D 11 Nowy Rynek E

  15. Slide 15: Warsaw

    12 13 Warsaw 12 Warsaw Unit 13 The Bridge

  16. Slide 16: Portfolio overview

    Portfolio overview 15 properties, 313,419 sq.m. of lettable area and current portfolio yield of 5.4%¹ PROPERTY VALUE PER LOCATION EUR 1,174m EUR 62m EUR 81.1m 88.3 % Occupancy rate Property value Rental income R12 Rental value 97.2 % Occupancy excl. Bridge EUR 240 Average rent /sq.m./yr EUR 3,720 6.

  17. Slide 17: Consistent high economic occupancy rate and surplus ratio

    Consistent high economic occupancy rate and surplus ratio Economic occupancy rate 88.3% at 30 September; 97.2% excluding The Bridge 94 % 5-YEAR AVERAGE Surplus ratio Q3 surplus ratio: 89.8% 92 % 5-YEAR AVERAGE 97.2 % 100% 100% 80% 80% 60% 60% 40% 40% 20% 20% 0% 0% 2020 Q3 2021 Q3 2022 Q3 2023 Q3 202

  18. Slide 18: Sustainability is at the core

    Sustainability is at the core Ambition to define the future of sustainable real estate in our regions Net Zero target 2040 Climate targets validated by SBTi 100 % 97 % Sustainability certification Taxonomy alignment BREEAM Outstanding or LEED Based on turnover FY 2025 Platinum 5 stars 92 % GRESB Gre

  19. Slide 19: Financials Jan–Sep 2026

    Financials Jan–Sep 2026

  20. Slide 20: Results January–September 2026

    Results January–September 2026 Q3 profit from property management up 4% EURm Q3 2026 JAN–SEP 2026 WHAT DROVE IT Rental income broadly unchanged RENTAL INCOME EUR 15.4m EUR 46.1m Like-for-like growth partly offsets the Riga disposals in Q2 −0.5% / +3.2% LFL −0.3% / +1.4% LFL Higher property costs red

  21. Slide 21: Earnings capacity

    Earnings capacity Annualised earnings capacity at 30 September 2026, a hypothetical snapshot, not a forecast EURk 30 SEP 2026 30 SEP 2026 30 JUN 2026 CHANGE COMMENTS ON CHANGE FROM LAST QUARTER All Bridge leases¹ Rental income 77,277 69,996 60,520 +16% Rental income increased due to acquisition and

  22. Slide 22: Property value development

    Property value development Changes in investment property value, 1 January–30 September 2026 EURm +240.6 1,173.7 6.7 % 15 1,200 Yield requirement in Properties incl. 1 1,100 valuations development asset 1,000 960.5 +7.8 +4.0 −39.3 +25 % +22 % 900 Average growth, 5 yrs Portfolio growth since year-end

  23. Slide 23: Financing after The Bridge acquisition

    Financing after The Bridge acquisition Financial position at 30 September 2026, interest coverage based on R12 LTV, AVERAGE INTEREST RATE & ICR DEVELOPMENT Loan-to-value, % (left axis) Average interest rate, % (right axis) ICR, x (right axis) 2.4 x 58 % Interest coverage ratio, R12 Loan-to-value 60%

  24. Slide 24: Eastnine as a long-term investment

    Eastnine as a long-term investment Overall goal to create a sustainable, attractive total return on shareholders' investment 600 500 +6.7 % Eastnine, 5-year annual average return 400 300 −7.8 % Real Estate GI, 5-year return 200 100 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Eastni

  25. Slide 25: Thank you for listening!

    | | Thank you for listening! | | eastnine ©

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