Slide 1: January-December 2024
Slide 2: Strong finish of the year - doubled sales and starts
Strong finish of the year - doubled sales and starts Market highlights Q4 * Increased demand for new housing driven by rising disposable income of households « Full-year sales and reservations increased by 35 per cent compared to last year and the sales ratio increased to 59 per cent * Strong B2C se
Slide 3: Stable margins despite lower business volume
Stable margins despite lower business volume Q4 figures in brief « As expected, low completions in the quarter - Net sales of SEK 3.1 Bn (5.0) * Increase in operating gross margin of 14.7 per cent (13.5) * Indirect and S&A expense run-rate down by 1 Bn SEK compared to 2022 * Operating EBIT margin of
Slide 4: Examples of neighbourhoods started in the quarter
Examples of neighbourhoods started in the quarter Gartenstadt Karlshorst Fjarilshusen Selene Dreilinga Majas Berlin, Germany Stockholm, Sweden Turku, Finland Riga, Latvia 194 apartments sold to an 16 single family units for 99 apartments sold to an 63 apartments for investor consumers investor consu
Slide 5: Financial development
5) BONAVA Financial development Jon Johnsson, Deputy CEO and CFO
Slide 6: Recognised units bridge, #
Continuing to sell completed unsold Recognised units bridge, # B2C Me28 850 os _ 788 . 8 801 600 539 552 250 249 249 Future completions Completions Completions Of which unsold Previously Change in balance Recognised during Q4 2024 Brought Forward in the quarter completed unsold of sold completed uni
Slide 7: Completed unsold units bridge, #
Completed unsold units bridge, #
Slide 8: Bonava Group performance
Bonava Group performance 2024 2023 2024 2023 —= Operating EBIT margin, % Q4 Q4 FY FY Operating EBIT margin, R12, % Net sales 4,989 8,194 13.269 || Net sales, SEK Bn Operating gross profit 672 948 1421 4,989 Operating gross margin, % 13.5 11.6 10.7 Selling & admin expense -209 -658 -760 Operating EBI
Slide 9: Business Units performance
Business Units performance Operating EBIT (SEK M) Operating EBIT % 24'Q4 23'Q4 24'FY 23'FY | 24°94 23'Q4 24'FY 23'FY Germany 267 386 431 628 10.4 122 76 8.6 Sweden 8 60 57 77 5.7 7.0 Hs} 2.9 Finland 30 45 8 107 | 13.1 7.0 -1.0 4.2 Baltics 22 38 47 68 9.9 11.6 7.3 8.9 Other -23 -66 -124 = -219 Total
Slide 10: Germany
German SHARE OF NET SALES (R12) y 69% 2023: 55% Highlights * The market is gradually improving where Bonava operates + Doubling of sold 649 (222) and started units 556 (263) + B2B-market is back with three B2B-transactions made during Q4 + Stable operating margins given market situation and ongoing
Slide 11: Sweden
Sweden SHARE OF NET SALES (R12) 13% 2023: 20% Highlights * Gradually higher demand from consumers + Increase in sold units from low levels * Sales rate in ongoing production increased to 45 (24) per cent * Two new production starts in Q4 024 023 2024 2023 Sold and started units ea FY FY Net sales 1,
Slide 12: Finland
Finland SHARE OF NET SALES (R12) 10% 2023: 19% Highlights + Still challenging market conditions * Good margins in completed projects + Release of provision affects margins positively + First B2B sales and start in 1.5 years - 99 units in Turku ‘Project: Selene, Turku 2024 2023 2024 2023 Sold and sta
Slide 13: Baltics
Baltics Highlights + Market conditions continue to improve + Sales and starts to consumers doubled compared to last year * Stable operating margins despite lower business volumes * Good progress in leasing B2M projects - secured financing from local banks 24 23 24 23 Q4 Q4 FY FY 228 332 651 770 Net
Slide 14: Consumers - estimated completions and sales rate
Consumers - estimated completions and sales rate Hl Germany Sweden Finland {)) Baltics — Current Sales Rate 539 400 Q4 2024 Q12025 Q22025 Q32025 Q42025 Q12026 Q22026 Q3 2026 Later Asince Q3 24*: 61 50 -11 16 35 4 -46 88 -83 Starts Q4 24: 1 4 95 86 76 72 183 517 “The numbers under the chart clarify t
Slide 15: Investors - estimated completions and sales rate
Investors - estimated completions and sales rate Hl Germany Sweden Finland {)) Baltics — Current Sales Rate 270 249 230 150 90 0 mm Q4 2024 Q12025 Q22025 Q32025 Q42025 Q12026 Q22026 Q3 2026 Later 280 Asince Q3 24*: =i, -60 60 4 37 -44 1 Starts Q4 24: 46 53 194 191 484 “The numbers under the chart cl
Slide 16: Building rights portfolio
Building rights portfolio Building rights, # Distribution between BU's Potential start period Germany [) Finland Hi Sweden [i Baltics 25-26 |) Later or divestment Hi 27-28 Customer segment B2B MB2c 16
Slide 17: Operating cash flow per quarter (SEK M)
Operating cash flow per quarter (SEK M)
Slide 18: Net debt decreases further
Net debt decreases further Net debt (SEK Bn) Net debt project financing [lll Leasing * Less capital bound in land and in completed unsold * Bonava’s ongoing projects are expected to increase going forward Ml Other net debt 8.1 which may also cause Net debt to 73 026 increase == 1.3 6.6 56 . 1.0 5.0
Slide 19: High level of available liquidity
High level of available liquidity Financing facilities per Q4 2024 (SEK Bn) 5.3 : 5.3 15 31 15 + Available liquidity of SEK 2.1 Bn + First amortisation/repayment of term loan by 198 MSEK 0.6 2024 Facilities 2024 utilisation Unutilised Syndicate RCF Bond Ml Term loans Cash Q4 2024 Cash 19
Slide 20: Financing framework metrics within set range
Financing framework metrics within set range Net project asset value > Net debt Build tomanage 0.30 Completed houses excl. leasing Tox 1.0 Ongoing projects 29 Equity to asset 5 41.7% ratio > 30% y Projects: Advance Net project Net debt Ongoing and payments from asset value excl. leasing completed cu
Slide 21: Summary
5) BONAVA Summary
Slide 22: Prepared to start profitable projects
Prepared to start profitable projects ¢ Our markets are gradually improving ¢ Strong finish of 2024 - significantly improved cash flow and reduced net debt creates a solid foundation going forward ¢ The large cost measures are now fully implemented enabling the leverage from scale as starts are bein
Slide 23: Q&A