Eastnine Ab · OMXSTO:EAST
Eastnine Ab — FY2022 Earnings Presentation
23 slides from Eastnine Ab's earnings presentation, February 2023
Slide 1: Year-end report 2022
EASTNINE Year-end report 2022 ——
Slide 2: Highlights 2022
Highlights 2022 Improvement in property operations * Positive net letting of 9,300 sq.m * Occupancy rate +6.3 % to 96.3 % * Record high profit from property management +41 % Greener than ever * 94% sustainability-certified portfolio * 68 % green lease agreements * 64 % green financing Closer to long
Slide 3: Update on MFG sale agreement
Update on MFG sale agreement MEL@N FASHION GROUP Signed sale agreement with the listed Russian investment company Sistema in October. * Price EUR 193m, which is also the valuation as of December 31. * The agreement is subject to conditions outside Eastnine’s control. The transaction has been approve
Slide 4: Economic outlook & real estate markets
Economic outlook & real estate markets eastnine ©
Slide 5: Macroeconomic outlook
Macroeconomic outlook % Real GDP growth decreasing % Inflation peaking % Unemployment ticking up 8 20 2 6 18 16 10 4 14 8 2 2 0 10 6 2 8 4 6 —S————_——~___— 4 4 2 6 2 8 0 0: T T T T 1 2018 2019 2020 2021 = =2022F =. 2023F 2018 2019 2020 2021 = =2022F =. 2023F 2018 2019 2020 2021 = =2022F =. 2023F —la
Slide 6: Prime offices
Prime offices EUR/sqm/ month 60 48 36 24 12 2015 2016 2017 2018 2019 2020 2021 jm Poznan Vilnius Rent levels increase m Riga lm Stockholm Source: Colliers, JLL, Cushman & Wakefield 2022 Vacancy rates variates Prime yield stable to rising % % 20 8 7 16 6 n 5 4 ; ; EE 2 4 NV ee 1 oO + T , T T T T 1 0
Slide 7: Properties and tenants
Properties and tenants eastnine ©
Slide 8: EUR 606m
EUR 606m
Slide 9: Focused on sustainability
Focused on sustainability ALLBRIGHT eastnine O
Slide 10: Properties in Vilnius, Lithuania
Properties in Vilnius, Lithuania CBD area Parliament district * Nine office properties: 121,200 sq.m. ~ 13,500 sq.m. per property. A linn wee E : ; a ill at ag * High occupancy ~97 %. * Anchor tenants: Danske Bank, Swedbank, Telia and Vinted. * One development project: 3Bures-4 ~ 13,200 GLA sq.m. to
Slide 11: Properties in Riga, Latvia
Properties in Riga, Latvia * Three office properties: 22,500 City Centre sq.m. ~ 7,500 sq.m. per property. Valdemara Centrs * Increasing occupancy ~86 %. * Anchor tenants: Webhelp, Klavins Ellex and Sorainen. * Two development projects: The Pine and Kimmel ~ 50,000 sq.m. to be constructed. a eastnin
Slide 12: Property in Poznan, Poland
Property in Poznan, Poland| * Acquired in May 2022 - Nowy Rynek D. * Modern office 39,300 sq.m. ° Fully let. * Anchor tenants: Allegro, Rockwool and Arvato.
Slide 13: Strong international tenants
Strong international tenants Allegro Poznan 15% E-commerce a= Danske Bank Vilnius 14% Finance + Telia Vilnius 9% ICT + Swedbank Vilnius 6% Finance + Vinted Vilnius 5% E-commerce Rockwool Poznan 3% Manufacturing + Visma Vilnius 3% ICT oT Citco Vilnius 2% Finance Re Wargaming Vilnius 2% ICT e Invalda
Slide 14: Financial overview
Financial overview eastnine ©
Slide 15: Financial key figures
Financial key figures Occupancy rate 96.3% +2.0 %-points Surplus ratio 92% +/- 0.0 %-points Property yield? 5.3% +0.1 %-points 1 Property yield in the earning capacity excluding development properties. 15 eastnine O
Slide 16: Strong development in the Income statement
Strong development in the Income statement Rental income Property expenses Net operating income Central administration Interest expenses Other financial income/expenses Profit from property management Unrealised value changes properties Unrealised value changesinvestments Unrealised value changes de
Slide 17: Earning capacity, properties
Earning capacity, properties EURk Rental value Less vacancy values Rentalincome Property expenses Net operatingincome Central administration Interest expenses Other financial income & expenses Profit from property management Change vs 2022-12-31 2022-09-30, % 35,725 0 -4,050 +1 -400 0 Property portf
Slide 18: Stable financing structure
Stable financing structure Diversified bank financing and low capital market financing _ Loan maturity and interest maturity EURm, % 45% 41% Interest maturity 1.8 years 40% BerlinHyp 35% 30% — 28% 28% Swedbank 25% 18% 20% 18% ° ° 17% 17% 15% 11% 10% % 5% 2% 2% 0% Ll Floating 2023 2024 + ©2025 «= 202
Slide 19: Share price affected by war/interest rate rise
Share price affected by war/interest rate rise Share discount decreased after signing of MFG sale agreement Minor changes among shareholders during 2022 SEK 300 250 200 150 100 50 Q1 2019 Q2 Q@3 4 ago ao ¢ ooo ooo ° g Ss a oa o Q1 2021 m Long-term NAV i Share price Long-term NAV 243 SEK Q1 2022 Q2 Q
Slide 20: Why Eastnine?
Why Eastnine? eastnine ©
Slide 21: Key figures per share
Key figures per share EUR 0.14 2018 Profit from property management/share 0.60 0.47 0.43 0.26 2019 2020 2021 2022 Dividend/share SEK 3.5 3.4 3.0 3.0 27 2.5 2.3 2 15 1 0.5 0 2018 2019 2020 2021 2022* * Board’s proposal 21 Long-term equity/share EUR 25 20 15 13.1 11.4 10 2018 2019 14.6 2020 21.9 17.6
Slide 22: Unique portfolio, cash generation, sustainability, growth
1. Unique portfolio 4 2. Strong cash generation * Modern office property portfolio in prime locations. ae High property yield compared to the Nordics. * Geographic focus: Baltics and Poland. Strong, international tenants with long leases. SSNERMAN 3. Leading in sustaina 4. Growth journey ahead * Por
Slide 23: Thank you!
Thank you! eastnine ©