Eastnine Ab · OMXSTO:EAST

Eastnine Ab — Q3 2023 Earnings Presentation

21 slides from Eastnine Ab's earnings presentation, October 2023

  1. Slide 1: Eastnine Interim Report January–September 2023

  2. Slide 2: Major events

    Majorevents 7) eastnine © PRESS RELEASE Eastnine’s divestment of holding in MFG completed Eastnine AB’s (publ) (Eastnine) divestment of the holding in the Russian fashion retailer Melon Fashion Group (MFG) is completed. The purchase price of approximately RUB 15.6 billion, corresponding to EUR 146 m

  3. Slide 3: Highlights

    Highlights January-September * Rental income +25% Net operating income +29 % Profit from property management at all time high +35 % Unrealised value changes in properties -6 % Realised value changes in other investments EUR -50m Q3 * Rental income +10 % * Net operating income +12 % ° Profit from pro

  4. Slide 4: Economic outlook & real estate markets

    Economic outlook & real estate markets eastnine ©

  5. Slide 5: Higher growth in Eastnine's markets

    Higher growth in Eastnine’s markets 8% 6% 4% 2% 0% -2% 4% 6% 8% 2015 2016 2017 Real GDP growth 2018 2019 2020 2021 mmm Latvia = Lituania mamPoland ——Eurozone 2022 2023P 2024P eastnine O

  6. Slide 6: Stable to growing rent levels

    Stable to growing rent levels Prime office rent, EUR/sq.m./month Rent level == == Vacancy rate Office vacancy rate 25 25% 20 20,00 t1o0 17.50 18,00 18,00 20% 16,50 16,50 00 16,00 15,25 15,95 L 15 —_ = 15% ~. - 10 10% 5 5% 0 0% 2018 2019 2020 2021 2022 Q2 2023 mmm Riga mmm Vilnius | Poznan — — Riga —

  7. Slide 7: Prime office yields are expanding

    Prime office yields are expanding Prime office yield 9% 8% 1% as o% a 5% 4% 2014 2015 2016 2017 2018 2019 2020 2021 2022 Q2 2023 —Riga. —Vilnius ——Poznan , eastnine ©

  8. Slide 8: Properties and tenants

    Properties and tenants eastnine ©

  9. Slide 9: Properties by city

    Helsink' e Stockholm @ @ Fallin VILNIUS: . RIGA @ Riga Property valle EUR 75.6m | 13 % Property value EUR 379.5m | 66 Lettable area 22,600 sq.m. Lettable area 120,900 sq.m. ° @ Vilnius Property value: EUR 573m No. of properties: 14 aa Poznan Lettable area: 182,800 sq.m. e en or . e POZNAN. Sustainab

  10. Slide 10: Tenants and rents

    Tenants and rents Premises, area Tenants, area Lease agreement % maturity* Retail and service 30 3,6% Other 0.5% 25 20 15 10 E-col 5 219 1 0 Offices > oh > go w\ ob OD oD 95,9% MPH LK MM NS * Based on annual entalincomefor premises. lo Surplus ratio 93 percent (90) Rent level 194 EUR sq. m./year (18

  11. Slide 11: Financial overview

    Financial overview eastnine ©

  12. Slide 12: Income Statement

    Income Statement ° Profit from property management increased by 14 % during the Rental income 27,200 21,804 +25 quarter and 35 % during the period. Property expenses “1,788 -2,154 -17 — Increased NOI due to larger property woe portfolio, higher average rent level & Net operating income 25,411 19,650

  13. Slide 13: Unrealised value changes properties

    Unrealised value changes properties * Unrealised value changes during January- September: EUR -34.7m, corresponding to -5.7 %. ° Main reasons ~ Negative: Weighted yield requirement: +0.6 %-points to 6.2 % ~ Positive: Average market rent: +0.8 EUR/sq. m./month to EUR 16.3. Unrealised value changes, p

  14. Slide 14: Earning capacity properties

    Earning capacity properties EURk Rental value Less vacancy values Rentalincome Property expenses Net operating income Central administration Interest income Interest expenses Other financial income & expenses Profit from property management 38,037 1,805 36,232 -2,447 33,785 -3,948 2023-09-30 2023-06

  15. Slide 15: Strong financial position

    Strong financial position Interest rate level % 5 3g 40 42 4 ae 29 30 31 3,4 3 2 1 0 SH Ql Q2 Q3 4 Ql Q2 Qs 2022 2023 % Net LTV, properties 60 52 51 51 52 52 45 41 40 B 20 | 0 BM UA QW Ww WM Ql Q2 Qs 2022 2023 EURM Cash 200 150 100 68 50 29 |] 19 21 20 19 29 o Ef Pe oe ee | 4 Ql 2 B MW Q @ 2022 2023

  16. Slide 16: Share and shareholders

    Share and shareholders * By the end of September — 5,800 shareholders — 85 % Swedish shareholding ~ Three major shareholders owned 53.7 % ~ Long-term NAV per share EUR 18.3 or SEK 211 Eastnine share development MFG sold 156,8 16 Shareholders September 30, 2023 Shareholding, % Change 2023 p.p. Peter

  17. Slide 17: Our growth journey

    Our growth journey eastnine ©

  18. Slide 18: Income and value

    Income and value Rental income Property portfolio Equity EURk EURk EURk 35,7 606 675 30,3 479 30 500 470 309 5 21,5 400 376 20 19,2 * 400 372 310 300 268 15 13,3 300 290 241 9,1 0 © 200 159 200 ° 100 | 100 0 0 2018 2019 2020 2021 2022 2023 Q3LTM 2018 2019 2020 2021 2022 2023 Q3 2018 2019 2020 2021 2

  19. Slide 19: Profitability and value per share

    Profitability and value per share Profit from property Long-term equity/share Dividend/share EUR management/share SEK SEK 0,8 0,76 243 3,5 34 250 3,0 3,0 0,7 211 3,0 27 0,6 9.60 200 182 : ° 047 25 2,3 0,5 a 147 0,43 150 137 2,0 0,4 116 0,3 0,26 100 15 0,2 0,14 1,0 50 0,1 | 0,5 0 0 0,0 2018 2019 2020

  20. Slide 20: An investment in Eastnine

    An investment in Eastnine = Unique portfolio Modern office properties in prime locations in the Baltics and Poland. Strong, international tenants with long leases. High property yield compared to the Nordics. Leading in sustainability Portfolio with highest environmental certification level in the B

  21. Slide 21: eastnine ©

    eastnine ©

Eastnine — Q3 2023 Earnings Presentation on 6ix