Eastnine Ab · OMXSTO:EAST

Eastnine Ab — Q3 2025 Earnings Presentation

25 slides from Eastnine Ab's earnings presentation, Oct 23, 2025

  1. Slide 1: Eastnine Interim Report January-September 2025

    January-September 2025 Eastnine Interim Report

  2. Slide 2: Highlights for the Quarter and the Period

    Highlights for the Quarter and the Period Quarter July-September Period January-September • Rental income • Rental income → Total: EUR 15.5m +45 % → Total: EUR 46.3m +59 % → Comparable portfolio: +3.1 % → Comparable portfolio: +4.4 % • Profit from property management • Profit from property managemen

  3. Slide 3: Eastnine at a glance

    Eastnine at a glance Building a leading prime office real estate company in the fastest growing part of Europe Poland, Lithuania, Latvia Prime office Ambition to lead in our regions Geographies Segment Sustainability Stockholm (HQ) Nasdaq Stockholm Mid Cap(1) EUR 415m(2) EUR 495m(3) Stock Exchange M

  4. Slide 4: Eastnine as a long-term investment

    Eastnine as a long-term investment Overall goal to create a sustainable, attractive total return on shareholders' investment Total return index 700 600 565 Eastnine (SEK) 500 486 Eastnine (EUR) 400 300 200 100 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Eastnine (in SEK) Eastnine (

  5. Slide 5: Eastnine's targets and outcome

    Eastnine’s targets and outcome Overarching target Key figures Outcome 30 September Eastnine’s overarching target is to create a sustainable, attractive total return on investment for its shareholders. Total shareholder return, 1 year +8 % Total shareholder return, 5-year average + 18 % Growth target

  6. Slide 6: Proven growth and strategy execution

    Proven growth and strategy execution Eastnine’s overarching goal is to create a sustainable and attractive total return on investment for its shareholders Property value Profit per share from property management EUR millions EUR/share +158 % +177 % 1000 0,35 +165 % 900 0,30 800 700 0,25 600 0,20 500

  7. Slide 7: Long-term trends

    Long-term trends eastnine ©

  8. Slide 8: Consistently high GDP growth

    Consistently high GDP growth Poland is now the 6th largest and the fastest growing major economy in the EU 4% Malta Poland 3% Bulgaria Romania Lithuania Projected Latvia Annual GDP Spain Sweden Growth 2% Ireland N5Y (2025E-2029E) Netherlands Germany 1% France Italy 0% 0% 1% 2% 3% 4% 5% Historical An

  9. Slide 9: Higher yields, lower rents

    Higher yields, lower rents Same cost of debt translating into higher cash returns, plus scope for long-term value growth EUR/sq.m./month Prime office rent, prime office yield 2024 90 9% Yield gap 80 8% expected to decrease over time 70 7% 60 6% 50 5% 40 4% Riga 30 3% 20 2% Rent level Vilnius expecte

  10. Slide 10: Top market rent levels for prime offices

    Top market rent levels for prime offices Growth since 2020 EUR/sq.m./ month 30 Vilnius +41 % Riga +19 % 26 Warsaw +18 % 22 Poznan +16 % 18 14 10 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q3 Riga Vilnius Poznan Warsaw 10

  11. Slide 11: Market yield requirements for prime offices

    Market yield requirements for prime offices % Change from lowest point 8 Warsaw +150 bp (since 2021) 7 Poznan +100 bp (since 2019) Vilnius +125 bp (since 2022) 6 Riga +125 bp (since 2022) 5 4 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q3 Riga Vilnius Poznan Warsaw 11

  12. Slide 12: Vacancies in the market

    Vacancies in the market % 24 22 20 18 16 14 12 10 8 6 4 2 0 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q3 Riga Vilnius Poznan Warsaw 12

  13. Slide 13: Eastnine occupancy and rental growth in key markets

    Eastnine occupancy and rental growth in key markets Prime product, high occupancy rate and retention – a solid fundament driving rental growth in Eastnine’s premises Economic occupancy rate Weighted average per GLA – Rent rates in prolongations / new lettings % EUR/sqm/month 28 96,7 26 24 22 20 18 1

  14. Slide 14: Prime offices portfolio

    Prime offices portfolio eastnine ©

  15. Slide 15: Portfolio overview

    Portfolio overview Prime office portfolio with 16 assets, 271,600 sq.m. of lettable area, Poland largest market Key figures Property value per location Property value per type of property Q3 2025 Q3 2025 Q3 2025 Riga Retail, services and other EUR 962m 16 7% 4% Property value Properties Warsaw 31% 2

  16. Slide 16: Strong and diversified multi-national tenant base

    Strong and diversified multi-national tenant base Tenants per industry Tenants % of total annual rent 3.6 yrs 1 11 Other ICT WAULT 2 10 30% 21% 3 8 4 5 5 3 6 3 222 EUR/sq.m/year 7 3 (SEK 2,455) 8 3 Average rent 9 2 Public sector 10 2 2% 11 2 Medical & 12 2 Finance Health 13 2 5% 28% +200 E-commerce

  17. Slide 17: Portfolio Overview

    Portfolio Overview Growing diversification – 16 standing prime office assets, whereof 1 project property(1) 128,000 sq.m. 121,000 sq.m. 22,500 sq.m. Nowy Rynek D Uptown Park 3Bures-1,2 3Bures-3 3Bures-4 Alojas Biroji The Pine 39,300 sq.m. 12,700 sq.m. 28,300 sq.m. 13,400 sq.m. Planned extension 10,1

  18. Slide 18: Sustainability is at the core

    Sustainability is at the core Ambition to be a leader in the regions where we operate Key metrics Sustainability certification level 100 % Taxonomy alignment 82 % Green financing 88 % GRESB rating 5 stars, 91 points, top 20 % Total energy use -4.5 % Jan-Aug 2025 vs Jan-Aug 2024 Energy use excl. tena

  19. Slide 19: January-September 2025

    January-September 2025 eastnine ©

  20. Slide 20: Income statement

    Income statement Jul-Sep Change, Jan-Sep Change, • Rental income and NOI increased both in Period, EURk 2025 % 2025 % the quarter and period, mainly due to last Rental income 15,531 +45 46,293 +59 year’s property acquisitions in Poland. Property expenses -1,050 +39 -2,971 +40 • Income in a comparabl

  21. Slide 21: Earnings capacity

    Earnings capacity • 3 months comparison Change vs EC Change vs EC EURk 2025-09-30 2025-06-30, % 2024-09-30, % Compared to the Earnings capacity Rental income 62,021 -1 +44 by the end of June, profit from property management decreased Property expenses -3,813 +8 +33 by 3 %, mainly due to lower Net op

  22. Slide 22: Healthy leverage level and diversified debt portfolio

    Healthy leverage level and diversified debt portfolio LTV decreases and liquidity increases Key figures Jul-Sep 2025/ Debt1 and interest maturities Debt sources 2025-09-30 2025-09-30 EURm 250 239 LTV 47 % 216 LHV OP Luminor 2% Liquidity (EUR) 52m 200 1% SEB 4% 23% Interest rate level 4.4 % Swedbank

  23. Slide 23: Properties – value and valuations

    Properties – value and valuations 2020-Q3 2025, quarterly figures Property value Unrealised changes in value % Yield requirement valuations EURm EURm 7,0 1 200 25 20 1 000 6,5 15 800 10 600 6,0 5 400 0 5,5 2020 2021 2022 2023 2024 2025 200 -5 Q1 Q1 Q1 Q1 Q1 Q1 -10 0 5,0 2020 2021 2022 2023 2024 2025

  24. Slide 24: The share

    The share Share price 49.00 SEK (Oct 22) Average daily shares traded, Jan-Sep1 Number of shareholders 216 % 8% 2025 116,543 Sep 2025 6,389 2024 36,871 increase Dec 2024 5,942 increase NAV, 2025-09-30/Jan-Sep 2025 Total return 4 % increase 18 % SEK 56.0 1 year 8% EUR 5.06 7 % increase 5 years 90 % av

  25. Slide 25: Thanks for listening!

    Thanks for listening!

Eastnine — Q3 2025 Earnings Presentation on 6ix