Eastnine Ab · OMXSTO:EAST
Eastnine Ab — Q1 2026 Earnings Presentation
25 slides from Eastnine Ab's earnings presentation, Apr 28, 2026
Slide 1: Eastnine Interim report January-March 2026
January-March 2026 Eastnine Interim report
Slide 2: Highlights Q1 2026
Highlights Q1 2026 Stable profit from property management, but lower occupancy and cold winter affected earnings Rental income: → EUR 15.4m -1% Profit from property management: → Total: EUR 7.7m -2% → Per share: EUR 0.08 -2% Unrealised value changes properties: EUR -2.7m Net lettings: EUR +63k Occup
Slide 3: Latest news - Divestment of properties
Latest news - Divestment of properties • Signed an agreement for the sale of two properties, Alojas Biroji and Zala 1 in Riga Latvia, for approximately EUR 38 million. Lettable area of approximately 13,700 sq.m. • Buyer: Indexo Real Estate Fund, which is managed by Provendi Asset Management. • After
Slide 4: Eastnine in brief
Eastnine in brief Building a leading office provider in the fastest growing part of Europe Poland, Lithuania, Latvia Prime office Ambition to lead in our regions Geographies Real Estate Segment Sustainability Stockholm (HQ) Nasdaq Stockholm Mid Cap EUR 398m EUR 505m Stock Exchange Market Cap Long te
Slide 5: Long-term trends
Long-term trends eastnine ©
Slide 6: Persistent high GDP growth for Poland
Persistent high GDP growth for Poland Poland is the 6th largest and the fastest growing major economy in the EU 4% Malta Poland 3% Bulgaria Romania Lithuania Projected Latvia Annual GDP Spain Sweden growth 2% Ireland 5Y (2025E-2029E) Netherlands Germany 1% France Italy 0% 0% 1% 2% 3% 4% 5% Historica
Slide 7: Good prospect for growth in Warsaw and Poznan
Good prospect for growth in Warsaw and Poznan 7
Slide 8: Expectations of lower yields and higher rents
Expectations of lower yields and higher rents EUR/sq.m./month 90 9% 80 8% Yield gap expected to 70 7% decrease over time 60 6% 50 5% 40 4% 30 3% 20 2% Rent level expected to 10 1% increase over time 0 0% Prime office rent, EUR Prime office yield, % Source: JLL, Colliers, Newsec, CBRE. Data for Q4 20
Slide 9: Attractive pricing in Poland
Attractive pricing in Poland Market EUR/sq.m. Stockholm 22,300 Munich 17,800 Stockholm (HQ) Berlin EUR 454m 13,600 Market Capitalization Frankfurt 13,600 Riga Oslo 12,700 Düsseldorf 12,300 Vilnius Hamburg 12,100 Helsinki 10,100 Poznan Warsaw Warsaw 5,900 Source: JLL 9
Slide 10: Prime offices portfolio
Prime offices portfolio eastnine ©
Slide 11: Long-term high occupancy & steady rental growth trend
Long-term high occupancy & steady rental growth trend Economic occupancy rate Weighted average per GLA – Rent rates in prolongations / new lettings EUR/sqm/month 100 28 90 26 80 24 70 22 60 20 18 50 16 40 14 30 12 20 10 10 2019 2020 2021 2022 2023 2024 2025 0 Unit (Warsaw) 3Bures-1,2 and 3 (Vilnius)
Slide 12: Portfolio overview
Portfolio overview Key figures Property value per location Property value per type of property 2026-03-31 2026-03-31 2026-03-31 Riga Retail, services and other EUR 960m 16 7% 4% Property value Properties Warsaw 31% 271,500 sq.m. EUR ~3,500 Lettable area Value per sq.m. EUR 62m EUR 65.7m Rental incom
Slide 13: Warsaw
Warsaw Property value Warsaw 31% 298 EURm Warsaw Unit 13
Slide 14: Poznan
Poznan Property value Poznan 21% 205 EURm Nowy Rynek D Nowy Rynek E 14
Slide 15: Vilnius
Vilnius Property value S7-1 & 2 & 3 3Bures-1,2 & 3 Uniq, Vertas-1 & 2 Vilnius 41% 391 EURm Uptown Park 15
Slide 16: Riga
Riga Property value Riga 7 % 66 EURm Valdemara Centrs Alojas Biroji Zala 1 Kimmel 16
Slide 17: Riga
Riga Property value Riga 3% Riga 7% 2966 EURm EURm Valdemara Centrs Kimmel 17
Slide 18: Increased rent level and strong tenant base
Increased rent level and strong tenant base % of total Tenants City annual rent + 3% Warsaw 11 Average rent level ICT per sq.m. Q1-2026 Other Poznan 10 32% 20% Vilnius 9 Vilnius 5 Poznan 3 Vilnius 3 228 EUR/sq.m/yr Vilnius 3 (~SEK 2,500/yr) Poznan 3 Average rent level Warsaw 2 Warsaw 2 Medical & War
Slide 19: Sustainability - Cold winter affected energy use
Sustainability - Cold winter affected energy use Eastnine’s climate targets validated by Science Based Targets initiative. Key metrics Sustainability certification level 100% (2026-03-31) Taxonomy alignment 97% (2025) Green financing 88% (2026-03-31) GRESB rating 5 stars, 91 points, top 20% (2025) T
Slide 20: January-March 2026
January-March 2026 eastnine ©
Slide 21: Income statement
Income statement Jan-Mar Jan-Mar Stable report with high occupancy and surplus ratio Period, EURk 2026 2025 Change • Rental income: Rental income 15,429 15,607 -1% - Positive currency effect of EUR 185k included in rental Property expenses -1,383 -951 +45% income in Q1 2025, reclassified to other fi
Slide 22: Slight improvement in the earnings capacity
Slight improvement in the earnings capacity Theoretical assessment describing Eastnine’s earnings capacity for a 12-month period as per 31 March 2026. • Rental income increased due to indexation, while EURk 2026-03-31 2025-12-31 Change lower occupancy ratio had an opposite effect. Rental income 62,7
Slide 23: Stable financing and increased liquidity
Stable financing and increased liquidity Most of the refinancing 2026 has already been completed Key figures Q1/2026-03-31 Debt1 and interest maturity Debt sources EURm 2026-03-31 LTV 47% 250 240 LHV OP 216 Luminor 2% Total cash EUR 63m 1% SEB 200 4% 22% Interest rate level 4.3% Helaba 150 118 108 1
Slide 24: Increased fund ownership
Increased fund ownership Shares owned by funds Number of shareholders +2% 2025-12-31 8% March 2026 7,346 +75% 2026-03-31 14% December 2025 7,218 NAV, 2026-03-31/Jan-March 2026 Total shareholder return +2% SEK 56.47 1 yr 13% +12% EUR 5.16 +1% 5 yrs 60% average, 5 yrs 24
Slide 25: Thanks for listening!
Thanks for listening!