Slide 1: Q1 2026 Presentation April 2026
Q1 2026 Presentation April 2026 Jörgen Eriksson Magnus Thagg CEO CFO 1
Slide 2: Properties for the logistics of the future
Q1 2026 Presentation April 2026 Properties for the logistics of the future Presentation Q1 2026 2
Slide 3: Agenda
Q1 2026 Presentation April 2026 Agenda 1. Summary 5. Financial update 2. Business overview 6. Takeaways from today 3. Business update 7. Q&A 4. Sustainability 3
Slide 4: Q1 YTD 2026 summary
Q1 2026 Presentation April 2026 Q1 YTD 2026 summary Looking to the future • Rental income increased by 9 percent to SEK 701 million Profit from Property Management (PFPM) SEK M (644), mainly due to acquisitions 1613 • Profit from property management increased by 7 percent to SEK 424 million (398) 12
Slide 5: Business overview
Business overview Sector-leading portfolio and prime customer base
Slide 6: Market update
Q1 2026 Presentation April 2026 Market update • Caution in light of geopolitical tensions • 69 percent of all consumers made online purchases in January 2026 – highest portion ever1 • New projects – still sluggish even though we have some ongoing dialogues 6 1 Svensk Handel E-handelsindikator januar
Slide 7: Customer base
Q1 2026 Presentation April 2026 Customer base Packaging Public sector Others Customers Share of contractual value Industry 1% 2% 4% 3% DSV 18% Healthcare DHL 8% 3% ICA 6% Construction and furnishing Elgiganten 5% 3% PostNord 4% Non Durable goods Martin & Servera 4% 17% Nowaste Logistics 4% Logistics
Slide 8: Portfolio
Q1 2026 Presentation April 2026 Portfolio Fair Value Regions Prop- Lettable Property Management Ongoing Land, Total Rental Economic Contractual Surplus erties area projects building value letting annual rent1 ratio2 rights ratio Number Tsqm SEK M SEK M/sqm SEK M SEK M SEK M SEK M % SEK M % Sweden 39
Slide 9: Business update
Business update A strong financial position and a unique landbank
Slide 10: Growing with our customers
Q1 2026 Presentation April 2026 Case Growing with our customers Tenant: Boozt Fashion Location: E-city, Ängelholm GLA, new build: 5 850 sqm Total GLA: 88 000 sqm Finalized: Q1, 2026 10
Slide 11: Earnings capacity
Q1 2026 Presentation April 2026 Earnings capacity 11
Slide 12: Current development
Q1 2026 Presentation April 2026 Current development 435 SEK M Carrying value 240 SEK M Remaining Investments 34,8 Tsqm GLA under construction Logistics Position Ramlösa Location: Helsingborg Tenant: ICA 46 SEK M Added operating surplus Sqm: 34 800 Investment: 675 SEK M Finalized: Q4 2026 6,8% Yield
Slide 13: Future development
Q1 2026 Presentation April 2026 Future development Stockholm South, Land, Sqm: 450,000 Nykvarn/Södertälje Zoning plan approved Logistics Position Järna Land Sqm: 950,000 4,500 Ksqm (JV, 50%) Södertälje Pending zoning plan Land bank Örebro South (JV, 50%), Land, Sqm: 920,000 Törsjö, Örebro Pending zo
Slide 14: Leasing update
Q1 2026 Presentation April 2026 Leasing update Net leasing Maturity profile – WALE development Letting ratio contractual annual rent 6,7 150 6,4 97,5% 6,3 97,2% 97,0% 96,7% 100 60,0% 96,7% 96,5% 50,0% 5,5 5,5 96,6% 50 96,0% 96% 5,0 5,1 40,0% 95,5% 0 2019 2020 2021 2022 2023 2 024 2 025 Q1 30,0% 95,0
Slide 15: Sustainability
Sustainability We are taking long-term responsibility.
Slide 16: Sustainability
Q1 2026 Presentation April 2026 Sustainability Continued progress towards 2030 and 2040 Sustainability targets 2026 R12 2025 2024 2023 Trend targets Net-zero greenhouse gas emissions by 2040 • 78 percent of lettable area is environmentally -Scope 1-2 (location based) 1,840 2,181 3,616 3,261 certifie
Slide 17: Financial update
Financial update Strong cashflows and balance sheet provides flexibility and opportunity.
Slide 18: Income and earnings
Q1 2026 Presentation April 2026 Income and earnings Rental income +9% Net operating surplus +6% Profit from property management +7% SEK M SEK M SEK M 2 651 2 198 1 613 2 193 1 789 1 261 1 808 1 107 1 447 1 544 954 1 387 1 220 824 1 095 644 701 536 567 398 424 2021 2022 2023 2024 2025 Q1 2025 Q1 2026
Slide 19: Rental development
Q1 2026 Presentation April 2026 Rental development 2026 Q1 YoY 29 -3 17 15 Like-for-like1 2.4 % Project development 2.7 % SEK M 644 701 Acquisitions 4.4 % Divestments -0.5 % Total 9.0% Q1 2025 Acquisitions Divestments Projects Like-for-like Q1 2026 Like-for-like growth: Primarily driven by CPI incre
Slide 20: Capital structure management
Q1 2026 Presentation April 2026 Capital structure SEK M management 50 000 60% 40 000 50% 40% 30 000 30% 20 000 20% 10 000 10% Key highlights 0 0% 2021 2022 2023 2024 2025 Q1 2026 • Equity ratio at 55 percent is considered as a balanced Interest bearing debt Other liabilities Equity Equity ratio (rs)
Slide 21: Financial position
Q1 2026 Presentation April 2026 Financial position 10 7,1 5 Good control – building momentum 0 2021 2022 2023 2024 2025 Q1 2026 • Strong financial control reflected across all key metrics Net debt/EBITDA (ls) Net debt/EBITDA policy • Investment grade rating, BBB with stable outlook, by Fitch Ratings
Slide 22: Debt and liquidity management
Q1 2026 Presentation April 2026 Debt and liquidity management SEK M Debt maturity profile Debt management 5 000 • Continued focus on capital structure and debt recycling 4 000 3 000 • SEK 400 million of secured bonds through SFF - 3 yr tenor at STIBOR 3M + 74 bps 2 000 1 000 • 12+6 months Term loan
Slide 23: Interest rate management
Q1 2026 Presentation April 2026 Interest rate management Market outlook SEK M Interest maturity profile 9 000 8 524 60% Interest • The Swedish Riksbank and the ECB kept their policy 8 000 hedge rates unchanged during Q1 7 000 ratio 6 000 • Swap rates increased during Q1 due to the increased 5 000 ge
Slide 24: Transactions
Q1 2026 Presentation April 2026 Capital deployment 159 Acquisitions (SEK M) Transactions 12 000 10 000 8 000 - Divestments (SEK M) 6 000 4 000 2 000 0 Development CAPEX 2019 2020 2021 2022 2023 2024 Q2 2024 2025 Q1 2026 435 Capex (SEK M) -2 000 Acquisition CAPEX (net) Development CAPEX Divestments 2
Slide 25: Property valuation
Q1 2026 Presentation April 2026 Property valuation 5.6 % EPRA NIY Stable property values 60 000 7,0% • Value changes Q1 2026 50 000 6,0% • +72 MSEK of unrealized value changes 40 000 5,0% 4,0% • Average weighted valuation yield (exit yield) 30 000 3,0% of 5.8 percent compared to EPRA NIY of 5.6 20 0
Slide 26: Takeaways from today
Takeaways from today CATENA
Slide 27: Solid numbers for the first quarter
Q1 2026 Presentation April 2026 1. Solid numbers for the first quarter 2. We have completed the major acquisition, which took effect on April 1st which will lead to higher earning starting in Q2 27
Slide 28: Q&A
Q1 2026 Presentation April 2026 Q&A Jörgen Eriksson Magnus Thagg CEO CFO 28
Slide 29: Q1 2026 Presentation April 2026
Q1 2026 Presentation April 2026 29