Corem Property Group Ab Class A · OMXSTO:CORE_A
Corem Property Group Ab Class A — Q4 2021 Earnings Presentation
40 slides from Corem Property Group Ab Class A's earnings presentation, Feb 24, 2022
Slide 1: Year-end Report Q4 2021
COTrelm Year-end Report Q4 2021 2022-02-24
Slide 2: Corem Property Group
Corem Property Group Corem is one of the leading commergial real estate companies in the Nordic region, with a focus on urban and growth regions, Following a successful bid onAMlovern, Corem’s property portfolio has expanded significantly during 2021. As_of 31 December 2021, he portfolio contained 5
Slide 3: NAV per ordinary share of Class A/B, SEK
P P L . R E NAV per ordinary share of Class A/B, SEK
Slide 4: January — December 2021
January — December 2021 Income increased to SEK 2,805 million (894). Net operating income increased to SEK 1,894 million (668). Profit from property management increased to SEK 1,178 million (420). Net letting amounted to SEK 129 million, of which SEK 98 million in the fourth quarter. Investments in
Slide 5: Property portfolio
Slide 6: A portfolio focused on major cities and growth regions
A portfolio focused on major cities and growth regions SEKbn 42% 10% 9% Stockholm Gothenburg Copenhagen [ ) Property value SEK 2-10 bn. © Proporty value SEK 1-2 bn @ Property value SEK 0-1 bn corem |
Slide 7: Stockholm, Gothenburg, Copenhagen, New York
Stockholm 1,160 tsq.m. Gothenburg 440 tsq.m. Copenhagen 160 tsq.m. New York
Slide 8: Property types that complement each other
Property types that complement each other PROPERTY VALUE BY PROPERTY TYPE Other 14% ™ Office 57% Retail 7% @ Logistics 22% LETTABLE AREA BY TYPE Other 12% = Office 41% Retail 11% @ Logistics 36% corem |
Slide 9: Lease maturity structure SEKm
SEKm 2 000 1 800 1 600 1 400 1 200 . 1 000 800 600 400 200 0 2022 2023 2024 2025-
Slide 10: Attractive customer mix
10 Attractive customer mix 0 ST Engineering Aerospace Se ee CODAN ERICSSON # Linképing martin&servera — Swedbank @ e—) bring ‘eremds tat WuRTH GROUP fropyNgyyyg Matdtemse- @rniimcron Attendo W Novartis G:s din matbutik pa natet —_ (ira) BEvVEGO ahisell oot. SRS serqotland @; BB Unkapings universitet
Slide 11: Net letting
n Net letting The Net letting totalled SEK 98 million for the quarter and SEK 129 million for 2021 * *Net letting within Klévern is included from the start of the third quarter 2021 9 8 SeEkKm mo NET LETTING, @4 2021 120 { 100 i . i : = doy 2p lo NET LETTING, FULL YEAR 2021 Ql Q2 QB Q4 Qi Q2 QZ QA Q
Slide 12: Recent lease signings
12 Orebro Entré. Lease of approx. 2,600 sq.m. signed with Trafikverket (the Swedish Transport Administration), for phase 2 of the project Orebro Entré. = - 1245 Broadway, Manhattan, New York. Lease signed with A24 Films for Arlandastad, Stockholm. 28&7, Manhattan, New York. Lease approximately 3,800
Slide 13: A elles eae same a sl an, am,
A elles eae same a sl an, am,
Slide 14: Klövern
4 KLOVERN corem.
Slide 15: Acquisition of Klövern
15 Acquisition of Klévern By merging Corem and Klévern we have created one of the Nordic region's leading commercial real estate companies, with a focus on metropolitan areas and growth regions. The combined company has a broad customer offering, a continued focus on long-term, sustainable ownership
Slide 16: Property transactions 2021
16 Property transactions 2021 Q Type City Property Category Lettable area, sq.m. Q1_ Acquisition J6nkoping Hedenstorp 1:99 Logistics 4,033 Q1_—s Acquisition Stockholm Kalvsvik 16:20 Logistics 6,224 Q2 = Acquisition Stockholm Marsta 21:48 Office/Project 864 Q2 Divestment Stockholm Instrumentet 13 & 1
Slide 17: Property development
Slide 18: Corem R12 Klövern R12
4 000 • 3 500 3 000 • 2 500 2 000 1 500 1 000 • 500 0 Corem R12 Klövern R12
Slide 19: Backa, Gothenburg. Veddesta 2:79, Järfälla, Stockholm.
Backa, Gothenburg. Veddesta 2:79, Järfälla, Stockholm.
Slide 20: Largest ongoing commercial projects
20 Largest ongoing commercial projects Increase Estimated Accrued in rental investment, investment, value, City Property Description Sq.m. SEKm SEKm SEKm Completion New York 1245 Broadway New construction office 16,700 1,417 1,023 181 2022 Q4 New York 2887 New construction office 9,100 770 561 87 20
Slide 21: New York
== ey a hy ® = o = < s 01 118 1 New York 2
Slide 22: Urban development
Slide 23: corem
corem
Slide 24: Stockholm, Söderstaden
iy 1 Stockholm, Séderstaden corem | 24
Slide 25: Västerås
ois & Vasterds corem
Slide 26: Uppsala Business Park
Uppsala Business Park corem 26
Slide 27: Residential development
Slide 28: Ongoing residential projects
28 Ongoing residential projects Share, Gross Net Sales Estimated No of Sold sold, area area start, completion, City, place Project name units units % sq.m. sq.m. year year Stockholm, Sundbyberg Rio 173 172 99 11,700 8,700 2017 2021 Stockholm, Nacka Nacka Strand K1 60 28 47 5,000 3,700 2021 2022 Tota
Slide 29: Nacka Strand 1A, Stockholm
29 Nacka Strand 1A, Stockholm. Ongoing residential project with sales start Q4 2021. 7 corem
Slide 30: Extensive potential for future residential projects
30 Extensive potential for future residential projects Planned residential projects in Stockholm, Vasteras, Nyk6oping, Uppsala, and Gothenburg. There may be room for development of more than 13,000 residential units within the existing portfolio. In November, Corem and ALM Equity signed a letter of
Slide 31: Sustainability
Slide 32: Good business partner and long-term value development
32 Good business partner and long-term value development “Our aim is to ensure an attractive aN long-term sustainable value mn environment.” Corem’s new long-term sustainability goals include: All energy used in Corem's operations shall be fossil-free by 2030. Corem shall be climate neutral througho
Slide 33: Financial position and financing
oe eee and financing 33
Slide 34: Property value and lettable area
Property value and lettable area SEKm 90000 4500 80000 4000 70 000 3500 60000 3000 50000 2500 40000 2000 30000 1500 20000 1000 10 000 500 0 0 2015 2016 2017 2018 2019 2020 2021 mam Property value, Corem mmm Property value, Kl6vern Combined lettable area, t.sq.m. corem |
Slide 35: Property value and rental value per sq.m.
35 Property value and Rental value, per sq.m. SEK/Sq.m. 25 000 1500 20 000 1200 15.000 _——_— 900 10 000 600 - i i i i . 2015 2016 2017 2018 2019 2020 2021 mmm Property value persqm —=Rental value per sqm corem |
Slide 36: 1400 1200 1000 2015 2016 2017 2018 2019 20 2021
1400 1200 1000 800 600 400 200 0 2015 2016 2017 2018 2019 2020 2021
Slide 37: BBB- stable outlook, interest coverage ratio
BBB- STABLE OUTLOOK 3,5 70 4,5 60 4,0 3 3,5 2,5 50 3,0 2 40 2,5 1,5 30 2,0 1,5 1 20 1,0 0,5 10 0,5 0 0 0,0 2015 2016 2017 2018 2019 2020 2021 2015 2016 2017 2018 2019 2020 2021 2015 2016 2017 2018 2019 2020 2021 Interest coverage ratio Target
Slide 38: 2015 2016 2017 2018 2019 2020 2021
35 30 25 20 15 10 5 0 2015 2016 2017 2018 2019 2020 2021
Slide 39: 0,70 0,60 0,50 0,40 0,30 0,20 0,10 0,00 2009 2010 2011 2012 2013 2014
0,70 0,60 0,50 0,40 0,30 0,20 0,10 0,00 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021*
Slide 40: Slide 40