Quarterly (Q4) Report 2025 – Baltic Sea Properties (BALT)

Baltic Sea Properties AS

Oslo, 27 Feb 2026, 08:00 CET

We are pleased to present our Quarterly (Q4) 2025 report, concluding a year of
solid operational progress and improved financial performance across the group.

Total income increased by 10%, driven by new cash flows from recently completed
developments and CPI-indexed rental increases across the portfolio. Income from
Property Management increased by more than 34% year-on-year, supported by active
asset management and lower financing costs. Together, these factors have
significantly improved our underlying cash flow generation and financial
resilience, providing a strong base for further expanding our portfolio.

Net Asset Value increased to EUR 56.7 million, representing a total annual
return of 9.1% (EUR) including dividends distributed.

We are expanding our portfolio in line with our investment strategy, backed by a
solid balance sheet and disciplined capital allocation. Our focus remains on
completing key developments, securing lease-up across the portfolio, sourcing
new acquisitions, and pursuing M&A opportunities, while maintaining long-term
value creation and dividend capacity in a region that continues to demonstrate
economic resilience and growth. In addition, the Board has resolved to initiate
a share buyback programme, as further detailed in a separate announcement
published today.

For further information, please contact:
Lars Christian Berger,
CEO
Phone: +47 930 94 319
Email: Lcb@balticsea.no

The information in this announcement is subject to disclosure requirements under
the EU Market Abuse Regulation (MAR) and listing rules for Euronext Growth Oslo.

Baltic Sea Properties is an open-ended and fully integrated real estate
investment company. The company is among the Baltics' leading real estate
investors and developers - owning a diversified cash flow generating portfolio
of modern real estate in the logistics, industrial and commercial
segments.Content

More information:
Access the news on Oslo Bors NewsWeb site

667067_Quarterly report Q4-2025 - Baltic Sea Properties AS.pdf