Ppi Public Property Invest Ab · OMXSTO:PUBLI
Ppi Public Property Invest Ab — Public Property Invest — Investor Presentation (May 2026)
35 slides from Ppi Public Property Invest Ab's investor presentation, May 2026
Slide 1: Company presentation
PUBLIC PROPERTY INVEST ASA Company presentation May 2026
Slide 2: Today's presenters
Today’s presenters André Gaden Ilija Batljan Tone Kristin Omsted CEO CIO EVP IR and Corporate Finance 2
Slide 3: Key investment highlights
1 One of the Largest Listed Social Infrastructure Platforms in Europe Key 850 2.2m 52 bn 1 # sqm. NOK investment Properties Lettable area Gross asset value 2 Predominantly Government-Backed Income Streams 7.1 84 94 highlights years WAULT (incl. project portfolio) % Government-backed leases % Occupan
Slide 4: This is PPI: Portfolio highlights
This is PPI: Portfolio highlights Geographical distribution PPI is one of the largest listed owner of social infrastructure properties in Europe and owns a (Gross asset value) large and diversified portfolio across the Nordics. 2% 2% 31.03.2026 16% 850 2.2m 52 bn 1 Sweden NOK Norway 52% # sqm. NOK 5
Slide 5: Diversified portfolio of high-quality properties across the Nordics
Diversified portfolio of high-quality properties across the Nordics Elderly Care in Ängelholm, Sweden High School in Vänersborg, Sweden Sara Kulturhus in Skellefteå, Sweden Elderly Care in Gothenburg, Sweden Elderly Care in Stockholm, Sweden Distribution of leases 10% 4% 24% 12% 14% 24% 12% Elderly
Slide 6: Delivering strong growth and shareholder returns since IPO
Delivering strong growth and shareholder returns since IPO From Norwegian platform, with ambitions to become a pan-Nordic leader Strong growth and value creation PPI IPO 31.03.2026 OMX Stockholm 61 850 May 2025 November 2025 Properties APG Invest (Aker ASA) SocialCo transaction joins as strategic in
Slide 7: Experienced management team with deep real estate and capital markets expertise
Experienced management team with deep real estate and capital markets expertise André Gaden Ylva Göransson Ilija Batljan Annika Ekström Marianne Aalby Tone Kristin Omsted CEO CFO CIO COO EVP Finance EVP IR and Corporate Finance Experience: 20+ years Experience: 20+ years Experience: 25+ years Experi
Slide 8: Aker ASA: Committed, supportive and long-term shareholder with 34% ownership in PPI
Aker ASA: Committed, supportive and long-term shareholder with 34% ownership in PPI IndustrialIndustrial investment company investment companywith heritage with heritage since since 1841 1841 Focused portfolio across Focused selected portfolio sectors across selected sectors Aker ASA is an industria
Slide 9: Nasdaq Stockholm listing rationale
Nasdaq Stockholm listing rationale
Slide 10: Listing in Stockholm unlocks strategic advantages
Listing in Stockholm unlocks strategic advantages A natural home for a Access to a leading European Potential index inclusion is likely A wider and more relevant peer Nordic real estate leader real estate capital market to lead to additional liquidity universe 1 2 3 4 With a majority of assets in Sw
Slide 11: PPI's portfolio is anchored in Sweden, the Nordic region's largest real estate market
PPI's portfolio is anchored in Sweden, the Nordic region's largest real estate market Asset base tilted towards Sweden Sweden has consistently higher volumes Listed real estate is a core market in Sweden Transaction volume, NOKbn Norway Sweden Market cap of relevant listed real estate, EURbn 400 60+
Slide 12: A Stockholm listing unlocks potential for deeper demand, higher liquidity and stronger capital access
A Stockholm listing unlocks potential for deeper demand, higher liquidity and stronger capital access A wider and deeper pool of demand Significant ECM activity Key peer trading at premium valuation Number of domestic equity funds ECM volumes 2025, EURbn P/EPRA NRV ~4x larger AuM vs. 4x Norway 77 10
Slide 13: Key investment highlights
public property invest Key investment highlights
Slide 14: Key investment highlights
One of the Largest Listed Social Infrastructure Platforms in Europe Key 1 A leading listed social infrastructure platform in Europe, with NOK 52bn GAV across 850 properties and 2.2m sqm in the Nordics, delivering ~5x portfolio and run-rate rent growth and ~25% TSR since IPO investment Predominantly,
Slide 15: One of the largest listed social infrastructure platforms in Europe
1 One of the largest listed social infrastructure platforms in Europe Following the transformative acquisition of the NOK 37bn SocialCo portfolio, Delivering ~5x portfolio and run-rate rent growth PPI has emerged as a leading listed social infrastructure company in Europe and ~25% TSR since IPO Port
Slide 16: Predominantly government-backed income streams (1/2)
2 Predominantly government-backed income streams (1/2) Underpinned by strong Nordic sovereign credit Predominantly backed by public-sector counterparties quality Other social infrastructure 16% Rating NOK 3.5bn Sweden AAA AAA Aaa 84% Government backed tenants Selected tenants Long-term relationships
Slide 17: Predominantly government-backed income streams (2/2)
2 Predominantly government-backed income streams (2/2) Visible, long-duration income streams Supported by long-term tenants WAULT of 6.8 yrs (7.1 yrs if including project portfolio) Selected examples 100% • Tenant: City of Stockholm , 7% elderly care • Recently renegotiated new 12% 15 years lease co
Slide 18: Structural growth tailwinds in the Nordics
3 Structural growth tailwinds in the Nordics Nordic countries population growth estimated to outpace the rest of Europe 1 The Nordic elderly population (65+) is set to grow by +40% by 20602 Population pyramid in the Nordics Nordic countries Rest of Europe 2025 and 20601 2025 20601 Men Women Men Wome
Slide 19: M&A driven growth platform with visible development pipeline
4 M&A driven growth platform with visible development pipeline Proven market consolidation track record focused on value creation Visible NOK 111m NOI uplift from development pipeline by 2027 PPI’s LONG TERM VISION 3 projects across Nordics, 100% pre-let, at yields of 6.2–6.5% on cost Major Projects
Slide 20: Resilient financial profile supporting growth
5 Resilient financial profile supporting growth Retain debt level below company threshold while growing the portfolio by 5x Well-diversified debt maturity profile extending to 2033 NOK bn • NOK 3.6bn bridge loan refinanced in Q1 26 LTV (Net Debt1 / Total Assets) Total Asset • Weighted avg. CoD: 4.26
Slide 21: Attractive entry point to the leading dividend stock in Nordic real estate
6 Attractive entry point to the leading dividend stock in Nordic real estate Quarterly dividend supported by stable government-backed cash flows and CPI-linked rents NOK 0.50 per share SEK 1.00 per share DPS 0.25 0.25 0.25 0.25 0.15 0.15 0.10 0.10 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Q4-26 Q1-27 Decl
Slide 22: Financial overview
public property invest Financial overview
Slide 23: Significant growth in rental income and cash earnings since IPO
Significant growth in rental income and cash earnings since IPO Rental income Net income from property management Cash flow from operations1 NOKm NOKm NOKm NOK NOK NOK NOK NOK NOK 0.68 p.s. 0.97 p.s. 0.17 p.s. 0.37 p.s. 0.47 p.s. 0.58 p.s. +23% p.a. 916 354 +21% p.a. 547 +29% p.a. 389 147 221 273 23
Slide 24: Stable EPRA NRV per share through balance sheet scale-up
Stable EPRA NRV per share through balance sheet scale-up Total assets Net debt EPRA NRV per share NOKbn NOKbn NOK 56.6 54.7 27.2 28.0 27.3 26.2 26.3 LTV 63.7% 65.3% 40.6% 42.6% 42.6% 45.6% 33.1% 35.2% 48.3% 48.5% 26.0 24.9 24.5 27.3 26.5 19.9 20.1 11.0 10.4 11.9 12.3 6.6 7.1 8.5 8.4 5.4 5.5 4.5 4.4
Slide 25: High conversion from rental income to recurring cash earnings
High conversion from rental income to recurring cash earnings Normalised annual run rate Key figures as of Q1-26 NOKm Q1 2026 Rental income1 3,539 94% Property expenses (631) Occupancy 7.1 years Net operating income 2,908 Net administration expenses – normalised2 (275) WAULT (incl. project portfolio
Slide 26: Balanced funding profile with limited near-term maturities
Balanced funding profile with limited near-term maturities Debt maturity structure1 Funding profile1 Key figures as of Q1-26 Bond Bank loan Bank loans 8 7 Average loan maturity of 5 years 14% 48.5% LTV 13% 8% 6 3% 1% 2.2x ICR 5 NOK 9.9x NOKbn 4 27.5bn Adj. Net debt / EBITDA2 3 4.26% 75% Weighted ave
Slide 27: Appendix
public property invest 2 oO ro 7) a. a <
Slide 28: Board of Directors
Board of Directors Martin Mæland Kenneth Bern Silje Cathrine Hauland Siv Jensen Chairman Board member Board member Board member Sven-Olof Johansson Jens-Fredrik Jalland Charlotte Håkonsen Board member Board member Board member 28
Slide 29: PPI's sustainability strategy
PPI’s sustainability strategy Changing demographics and regulatory PPI is well positioned with a portfolio consisting Solid foundation in place based on double agenda support end market growth mainly of social and/or green buildings materiality assessment and targets in place Nordic population 11% T
Slide 30: Sustainable Financing Framework
Sustainable Financing Framework Category Green Project Criteria UN SDGs Example project Buildings built after 31 December 2020 ▪ Primary Energy Demand (PED) at least 10% lower than the nearly zero-energy building (NZEB) threshold, as defined by local standards, or Villa Skaar Elderly care home - Nor
Slide 31: Distribution of leases
Distribution of leases Contractual income per sector Portfolio gross asset value per sector Portfolio wault per sector Parking ther Vacant Parking ther ritical infrastructure ritical infrastructure ritical infrastructure ducation lderly care ducation lderly care Parking ther ducation unicipality oun
Slide 32: Property portfolio overview
Property portfolio overview Number of Square Market value Rental income Occupancy Wault Region properties metres (NOKm) (NOKm) (%) (years) Sweden 498 1,220,561 26,897 1,804 93% 6.8 Norway 184 651,494 15,489 1,039 95% 7.6 Finland 151 271,133 7,638 622 95% 5.8 Denmark 10 52,747 839 75 99% 6.3 Sum Mana
Slide 33: Top 10 tenants by share of rental income
Top 10 tenants by share of rental income Tenant Country Share of rental income (%) Region Västra Götaland Sweden 2% Haninge Municipality Sweden 2% Boden Municipality Sweden 2% Attendo Sweden AB Sweden 2% OsloMet – Oslo Metropolitan University Norway 2% Aker Solutions AS Norway 2% Västerås Municipali
Slide 34: Foreign exchange hedging
Foreign exchange hedging The table below shows the net position of investment property assets by currency at quarter-end, after taking into account loans and foreign-exchange hedges. All loan and derivative amounts are presented at nominal value, and derivatives shown are those economically linked t
Slide 35: Slide 35
Public Property Invest — Investor Presentation (May 2026) on 6ix