Slide 1: Interim report Q2 2025
Interim report Q2 2025 11 July 2025 External
Slide 2: Logistea in numbers Q2 2025
Logistea in numbers Q2 2025 A leading Nordic light industrial and logistics company Lettable area per country Nasdaq Mid Cap 96.9% 4% 1% A and B share Economic occupancy rate 5% 3% 3% 11% ~15.2 BSEK 6.8% 59% Property value Net initial yield 15% 151 9.6 years No. of properties Lease duration Value pe
Slide 3: Highlights HY1 2025
Highlights HY1 2025 511 MSEK 456 MSEK 246 MSEK 0.51 SEK +131% +175% +267% +74% Income NOI PFPM PFPM per share 9.6 years 6.8% 48.4% 7.8x WAULT Net initial yield Net LTV Net debt to EBITDA ratio 3
Slide 4: Accretive growth through acquisitions across the Nordics
Accretive growth through acquisitions across the Nordics Vansbro Purchase price: SEK 433m Rental value: SEK 34.1m Lettable area: 36,652 sq.m. Tenant: Fully leased to Lyko Hämeenlinna1 Purchase price: SEK 273m Rental value: SEK 22.4m Lettable area: 21,726 sq.m. Tenant: Fully leased to a strong tenant
Slide 5: Accretive growth through acquisitions across the Nordics
Accretive growth through acquisitions across the Nordics Acquisition highlights YTD • Large investable universe – reviewed some 100 Signed Q1 Q1 Q1 Q2 Q2 Q1-Q2 Q3 YTD deals with 60 SEKbn in underlying value YTD Closed Q1 Q2 Q2 Q2 Q2 Q1-Q2 Q3 YTD • Five individual asset acquisitions across Sweden, Hä
Slide 6: Expansion timeline
Expansion timeline Q2 2025 Property value development and net initial yield 16000.0 15.2 BSEK 10.0% Avg. Interest 9.0% 14000.0 Net initial yield Property value 8.0% Future growth through: 12000.0 6.8% 7.0% • Single asset acquisitions 10000.0 2.2% 6.0% • Portfolio acquisitions Yield gap 8000.0 5.0% •
Slide 7: Run rate earnings capacity SEKm
Run rate earnings capacity SEKm 1 Jul 1 Oct 1 Jan 1 AprQ 1 JulQ Change Comments Amounts in MSEK (1 Jul 2025 – 2024 2024 2025 2025Q 2025Q 1 Jul 2024) • Profit from property management Investment properties per share has increased by 0.12 SEK Rental value 421 934 953 981Q 1,087Q YTD, affected by: Vaca
Slide 8: Earnings capacity per share development
Earnings capacity per share development Extensive growth in PFPM earnings per share 1.20 • 1.12 SEK/share (1 Jul 2025) 1.00 • +35% y-o-y 0.80 • +12% YTD 0.60 0.40 Main drivers for growth includes 0.20 • Improved bank and bond margins 0.00 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 • Finalised project
Slide 9: Share issue to ensure growth capacity
Share issue to ensure growth capacity Largest shareholders per 30 June 2025 Name LOGI A LOGI B Capital, % Votes, % Directed share issue completed on 3 June 2025 1 Rutger Arnhult 10,731,836 89,324,011 19.6% 26.3% • 36,000,000 B-shares issued 2 Nordika 2,017,232 68,611,138 14.4% 15.9% • 13.90 SEK/Shar
Slide 10: Strong tenants diversified across industries and regions
~91% of exposure in the Nordics Strong tenants diversified across industries and regions NOI NIY WAULT Tenant diversification Industry diversification Share of rental income Share of rental income Sweden 53% 6.4% 8.3 4% Other 5% Food industry Norway 26% 7.1% 9.7 7% Packaging 10% Logistics Denmark 7%
Slide 11: Long-term asset commitments reflected in contract structure
Long-term asset commitments High visibility in future rental income reflected in contract structure Contractual rent maturity profile Key figures 83.6% ~91% ~99% ~97% 9.6 Triple net contracts1 CPI-indexed contracts Occupancy rate years wault Net letting Jan-Jun Apr-Jun Jul-JunQ Jan-Dec Amounts in MS
Slide 12: Market update
Market update Rent prime logistics (SEK/sqm) Vacancy (%) 1,800 10% 1,600 8% 1,400 6% 1,200 4% 1,000 800 2% 600 0% Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Stockholm Oslo Cop
Slide 13: Financials
Financials ye
Slide 14: Earnings and profit (SEKm)
Earnings and profit (SEKm) Revenue Net operating income Profit from property management • Operating margin increased to 1,002 1,000 89.6% (76.2) and adjusted 849 operating margin increased to 500 1000 892 439 450 95.0% (89.7) on a 12-month 900 713 800 738 800 350 400 559 600 600 700 350 basis. 600 2
Slide 15: Access to a variety of funding sources
Access to a variety of funding Key metrics sources Loan-to-value 48.4% Debt composition 0% Secured loan-to-value 42.9% 11% Bank Bonds Equity ratio 44.5% Other Interest maturity 2.9 y Capital maturity 2.9 y 89% Hedge ratio 73.0% Bank Net debt to EBITDA ratio 7.8 x Credit maturity profile (MSEK) Bond
Slide 16: Debt portfolio update
Debt portfolio update Fourth quarter vs. second quarter comparison 31.12.2024 30.06.2025 Loan Avg. Loan Avg. • Refinanced bank loans of 595 Debt amount maturity amount maturity msek at 85 bps lower margin. portfolio (SEKm) Margin % All in % Amort % yrs (SEKm) Margin % All in % Amort % yrs Bank loan
Slide 17: Financial targets and policy
Financial targets and policy >15% avg. growth in PFPM/sh over five-year period >15% avg. growth in NRV/sh over five-year period *Adjusted for one-time effects LTV <60% ICR >1.8x 17
Slide 18: Outlook
Outlook ye
Slide 19: We are well positioned to continue executing on our strategy
We are well positioned to continue executing on our strategy ✓ Diversified exposure by geography, tenants and industries ✓ Triple net lease contracts reflecting long-term commitment/wault ✓ Access to attractive funding sources supportive of growth strategy ✓ Dry powder following rights issue in June
Slide 20: Q&A
Q&A ye
Slide 21: Appendix
A Pp pendi x ye
Slide 22: Ownership and share performance
Ownership and share performance Share price performance Largest owners SEK Turnover Name LOGI A LOGI B Capital, % Votes, % 19 1,000,000 1 Rutger Arnhult 10,731,836 89,324,011 19.6% 26.3% 18 900,000 17 800,000 2 Nordika 2,017,232 68,611,138 14.4% 15.9% 700,000 16 3 Fourth Swedish National Pension Fun
Slide 23: Consolidated income statement
Consolidated income statement MSEK Jan-Jun 2025 Jan-Jun 2024 Comment Apr-Jun 2025 Apr-Jun 2024 0.5% Like-for-like excl. rent Rental income 511 221 263 110 supplements Property costs -55 -55 -5.5% Like-for-like -23 -22 Net operating income 456 166 -0,9% Like-for-like 240 88 Central administration -40
Slide 24: Consolidated balance statement
Consolidated balance statement MSEK Jun 2025 Jun 2024 Comment Goodwill 1,056 - Property value 15,203 9,677 sek/sqm 6,259 8,543 sek/sqm Derivatives 17 12 Other assets and receivables 242 112 Cash and bank balances 505 219 Total assets 17,023 6,602 Equity 7,570 3,168 EPRA NRV 16.0 SEK/share (14.0) Def
Slide 25: End
End ye