Eastnine Ab · OMXSTO:EAST

Eastnine Ab — Q1 2023 Earnings Presentation

20 slides from Eastnine Ab's earnings presentation, May 2023

  1. Slide 1: Eastnine Interim Report January-March 2023

    EASTNINE INTERIM REPORT January-March 2023 ato sae Val Paw aN

  2. Slide 2: Summary of the first quarter

    Summary of the first quarter * Rental income increased by 45 % for the whole portfolio and by 12 % for a comparable property portfolio. * New record in Profit from property management, despite an increase in interest expenses: +70 % vs Q1 2022 +26 % vs Q4 2022 Main reasons: ~ Larger portfolio (only

  3. Slide 3: Economic outlook & real estate markets

    Economic outlook & real estate markets eastnine ©

  4. Slide 4: Macroeconomic outlook

    Macroeconomic outlook % Real GDP growth to decrease 8 6 4 6 8 2018 2019 2020 2021 2022 —latvia Poland ——Lithuania ——Euro area Source: Eurostat, European Commission, Swedbank 2023F 20 15 10 0 Inflation expected to fall 2018 2019 2020 2021 2022 —Latvia Poland —Lithuania ——Euro area 2023F % Unemploymen

  5. Slide 5: Prime offices

    Prime offices EuR/sqm/ Rent levels increase h EUR/sqm/ mont 25 ye5o0 20 250 200 15 150 10 100 5 50 0 0 oA y ss Sg? s sv Poznan mRiga m Vilnius Source: Colliers, JLL, Cushman & Wakefield No clear trend for vacancies 20 16 12 oO; T T T T T , oO A ob 2 OD wD SPS SP a a a —Riga —Vilnius ——Poznan S o & S

  6. Slide 6: Properties and tenants

    Properties and tenants eastnine ©

  7. Slide 7: Eastnine's property portfolio

    Eastnine’s property portfolio Helsinki Stockholm e@

  8. Slide 8: Tenants and rents

    Tenants and rents WAULT: 4.2 years Rent level: 193 EUR sq. m./year Tenants by industry Other Law &audit Go, 4% Retail & service IcT 6% 9% Office services 9% E-commerce 20% Finance 26% % Contractual annual rent maturity 30 25 20 15 10 hg | E _ 2023 2024 2025 2026 2027 2028 2029 2030 2031 eastnine O

  9. Slide 9: Sustainability & real estate

    Sustainability & real estate Certified properties Green lease agreements EU Taxonomy aligned turnover* ; eastnine ©

  10. Slide 10: ALLBRIGHT place out of listed companies

    ALLBRIGHT 6 place out of 355 listed companies 10 Trust index 95 % eastnine O

  11. Slide 11: Financial overview

    Financial overview eastnine ©

  12. Slide 12: Key figures in property operations

    Key figures in property operations +6.0 %-points compared to Q1 2022 +0.3 %-points compared to Q4 2022 * Average rent level increased to EUR 16.1 per sq.m. / month. +5.9 % compared to Q1 2022 +5.2 % compared to Q4 2022 Surplus ratio increased to 93 %. +5 %-points compared to Q1 2022 +1 %-points comp

  13. Slide 13: Income Statement

    Income Statement Rental income Property expenses Net operating income Central administration expenses Interest expenses Other financial income/expenses Profit from property management Unrealised value changes properties Unrealised value changesinvestments Unrealised value changes derivatives Realise

  14. Slide 14: Earning capacity properties

    Earning capacity properties EURk 2023-03-31 2022-12-31 Change, % Rental value Less vacancy values Rentalincome Property expenses Net operatingincome Central administration Interest expenses Other financial income & expenses Profit from property management 37,829 -1,269 36,560 -2,900 33,660 -3,800 -1

  15. Slide 15: Property portfolio and valuations

    Property portfolio and valuations ° Value of the property portfolio decreased to EUR 589.9m (606.2) - Negative unrealised value changes of EUR 16.8m, corresponding to -2.8 %. + Investments in existing properties of EUR 0.5m * Unrealised value change: - Weighted yield requirement: +0.3 %-points to 5.

  16. Slide 16: Financing structure

    Financing structure Increased interest rate, net LTV and ICR Loan maturity and interest maturity _ a a ae Interest rate level, % Net LTV properties, 52 51 % ICR, % 2.6 2.2 Averageloan 21 2.3 maturity, years Average interest 17 18 maturity, years 41 2.5 25) 16 16 EURmin % 45% 41% 40% 35% 33% 30% 28%

  17. Slide 17: Why Eastnine?

    Why Eastnine? eastnine ©

  18. Slide 18: Income and value

    Income and value Property portfolio Rental income Equity 606 590 600 35 30,3 500 479467 500 470 30 400 376 400 372 2s 21,5 310 20 2 300 268 300 290 241 * oe 200 200 159 19 100 100 5 | 0 0 0 2018 2019 2020 2021 2022 2023Q1 2018 2019 2020 2021 20222023Q1* 2018 2019 2020 2021 2022 2023Q1 *Earningcapaci

  19. Slide 19: Profitability and value per share

    Profitability and value per share Profit from property EUR management/share 0,7 0,69 0,60 0,6 0,47 0,5 0,43 0,4 0,3 0,26 0,2 0,14 0, | 2018 2019 2020 2021 2022 2023 Qu’ bow ° * Last 12months SEK 300 250 200 150 100 5 36 ° Long-term equity/share 243 241 182 137 147 116 2018 2019 2020 2021 2022 2023 1

  20. Slide 20: Thank you!

    Thank you! eastnine ©

Eastnine — Q1 2023 Earnings Presentation on 6ix