Slide 1: Properties for the logistics of the future
Q3 2025 Presentation October 2025 Properties for the logistics of the future Presentation Q3 2025 2
Slide 2: Agenda
Q3 2025 Presentation October 2025 Agenda 1. Summary 5. Financial update 2. Business overview 6. Takeaways from today 3. Business update 7. Q&A 4. Sustainability 3
Slide 3: Q3 YTD 2025 summary: A solid quarter
Q3 2025 Presentation October 2025 Q3 YTD 2025 summary: A solid quarter + 32% • Rental income increased by 25 percent to SEK 1,963 Profit from Property Management (PFPM) SEK M million (1,566), mainly due to acquisitions 1261 1202 1107 • Profit from property management increased by 32 percent to SEK 1
Slide 4: Business overview
Business overview Sector-leading portfolio and prime customer base
Slide 5: Market update
Q3 2025 Presentation October 2025 Market update • Much more activity in the transaction market • E-commerce increased 9 percent • Some more ongoing discussions regarding new developments • Vacancy at 9 percent in Sweden 6 E-barometern PostNord Q2, 2025
Slide 6: Customer base
Q3 2025 Presentation October 2025 Customer base Others Public sector Customers Share of contractual value Packaging 4% 1% Industry 1% DSV 18% 3% Healthcare DHL 8% 3% Construction ICA 6% and furnishing Elgiganten 5% 3% PostNord 5% Martin & Servera 4% Durable goods 18% Logistics and Nowaste Logistics
Slide 7: Portfolio
Q3 2025 Presentation October 2025 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
Slide 8: Business update
Business update A strong financial position and a unique landbank
Slide 9: Possession taken of the Elgiganten property
Q2 2025 Presentation July 2025 Case Possession taken of the Elgiganten property Property: Barnarps Kråkebo 1:49 Location: Torsvik, Jönköping Investment: SEK 1,275 million Land area: 232,000 sqm GLA: 112,000 sqm Certification: BREEAM In-Use 10 Very Good
Slide 10: Current development
Q3 2025 Presentation October 2025 Current development 896 SEK M Carrying value 272 SEK M Remaining Investments Mappen 4, Tenant: San Sac Sqm: 9,800 Linköping Investment: 129 SEK M Finalized: Q1 2026 91 Tsqm GLA under construction E-city Engelholm Tenant: Boozt Sqm: 5,850 Ängelholm Investment: 89 SEK
Slide 11: Future development
Q3 2025 Presentation October 2025 Future development Stockholm South, Land, Sqm: 450,000 Nykvarn/Södertälje Zoning plan approved Logistics Position Järna Land Sqm: 950,000 (JV, 50%) Pending zoning plan 4,500 Ksqm Södertälje Land bank Örebro South (JV, 50%), Land, Sqm: 920,000 Törsjö Pending zoning p
Slide 12: Leasing update
Q3 2025 Presentation October 2025 Leasing update Net leasing Maturity profile – WALE development Letting ratio contractual annual rent 6,7 60,0% 6,5 97,5% 97,2% 97,0% 96,7% 50,0% SEK M 5,5 5,5 96,5% 96,6% 96% 96,6% 40,0% 5,1 96,0% 150 5,0 4,9 95,5% 30,0% 95,0% 95% 100 94,7% 20,0% 94,5% 50 94,0% 10,0
Slide 13: Sustainability
Sustainability We are taking long-term responsibility.
Slide 14: Sustainability
Q3 2025 Presentation October 2025 Sustainability Continued progress towards 2030 targets Sustainability targets 2025 R12 2024 2023 2021 Trend Net-zero greenhouse gas emissions by 2030 • 58 percent of lettable area is environmentally certified -Scope 1-2 (location based) 3,730 3,616 3,261 2,632 -Scop
Slide 15: Financial update
Financial update Strong cashflows and balance sheet provides flexibility and opportunity.
Slide 16: Income and earnings
Q3 2025 Presentation October 2025 Income and earnings Rental income +25% Net operating surplus +28% Profit from property management +32% SEK M SEK M SEK M 2 193 1 789 1 261 1 202 1 633 1 107 1 963 1 808 1 447 954 1 566 1 276 911 1 544 1 220 824 1 387 1 095 1 264 1 004 719 2020 2021 2022 2023 2024 Q3
Slide 17: Rental development
Q3 2025 Presentation October 2025 Rental development 309 53 2025 Q3 YoY 70 Like-for-like1 3.4 % Project development 4.4 % SEK M 1963 1566 Acquisitions 19.7 % -23 Divestments -2.2 % Q3 2024 Acquisitions Divestments Projects Like-for-like Q3 2025 Total 25.3% Like-for-like growth: Primarily driven by C
Slide 18: Capital structure management
Q3 2025 Presentation October 2025 Capital structure management SEK M 50 000 60% 50% Key highlights 40 000 40% 30 000 30% • Equity ratio at 51 percent is considered as a balanced 20 000 20% weight 10 000 10% 0 0% • EPRA NRV per share continues steady upward trend 2019 2020 2021 2022 2023 2024 Q3 2025
Slide 19: Financial position
Q3 2025 Presentation October 2025 Financial position 10 7,8 5 Good control – building momentum 0 2020 2021 2022 2023 2024 Q3 2025 • Strong financial control reflected across all key metrics Net debt/EBITDA (ls) Net debt/EBITDA policy • Investment grade rating, BBB with stable outlook, 80% confirmed
Slide 20: Debt and money management
Q3 2025 Presentation October 2025 Debt and money management SEK M Debt maturity profile Debt management 5 000 • Continued focus on capital structure and debt recycling 4 000 3 000 • SEK 950m of bank loans refinanced during Q3 at margins improving our cost of debt. Banks are offering refinancing 2 00
Slide 21: Interest rate management
Q3 2025 Presentation October 2025 Interest rate management Market outlook SEK M Interest maturity profile 59% Interest • The Swedish Riksbank lowered its policy rate in 10 000 8 991 9 000 hedge September to 1,75%, while the ECB kept its policy rate ratio 8 000 unchanged during Q3 7 000 6 000 • Marke
Slide 22: Transactions
Q3 2025 Presentation October 2025 Capital deployment 1 629 Acquisitions (SEK M) Transactions 12 000 10 000 8 000 -98 Divestments (SEK M) 6 000 4 000 2 000 0 2019 2020 2021 2022 2023 2024 Q3 2025 Development CAPEX -2 000 769 Capex (SEK M) Acquisition CAPEX (net) Development CAPEX Divestments 23
Slide 23: Property valuation
Q3 2025 Presentation October 2025 Property valuation 5.6 % EPRA NIY Stable property values 50 000 7,0% 45 000 • Value changes Q3 2025 40 000 6,0% 35 000 5,0% • +297 MSEK of unrealized value changes 30 000 4,0% • Driven by changes in yields, vacancy and 25 000 3,0% 20 000 renegotiated leases 15 000 2
Slide 24: Takeaways from today
Takeaways from today CATENA
Slide 25: Solid numbers and increased earnings
Q3 2025 Presentation October 2025 1. Solid numbers and increased earnings 2. Positive outlook on the transaction market 26
Slide 26: Q&A
Q3 2025 Presentation October 2025 Q&A Jörgen Eriksson Magnus Thagg CEO CFO 27
Slide 27: Q3 2025 Presentation October 2025
Q3 2025 Presentation October 2025 28