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We build responsibly – for people, society and the future August 27, 2026 Jan Jahren, CEO Sverre Hærem, EVP & CFO Q2 Second Quarter 2026 Ostindiska house
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Highlights A strong quarter with high activity and solid results • Revenue of MNOK 3 345 (2 929) – up 14,2% from Q2 2025 • Earnings before tax MNOK 196 (201) • Order intake MNOK 3 610 (6 018) • Order backlog MNOK 18 545 (21 341) • Net financial position MNOK 3 426 (3 036) Oslo Spectrum
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Number of injuries LTI-rate* 3 Health and safety Own employees, hired staff and subcontractors Own employees, hired staff and subcontractors Sick leave rate Own employees *LTI-rate = Number of lost-time injuries 12-months rolling, per million hours worked 2 7 7 6 8 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 1,8 2,1 2,1 2,3 2,9 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 4,8% Q2 25 4,6% Q3 25 5,0% Q4 25 5,5% Q1 26 Q2 26 4,9%
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Order intake Order backlog 4 Continued strong order backlog NOK billion NOK billion 6,0 1,0 1,7 3,7 3,6 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 21,3 19,5 18,1 18,3 18,5 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26
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New projects in the quarter - HENT 5 Fageråshjemmet Location: Bergen Developer: Bergen municipality Contract value: 560 MNOK Scope: 15 500 sqm Completion: 2030 Stenersgata 1, part 2 Location: Oslo Developer: Entra Contract value: agreed not to disclose Scope: 16 200 sqm Completion: 2028 Skygard, part 2 Location: Oslo Developer: Skygard AS Contract value: 320 MNOK Scope: 12 000 sqm Completion: 2027 Rehabilitation of office Location: Oslo Developer: Fagforbundet Contract value: 114 MNOK Scope : 9 000 sqm Completion: 2027 HENT HENT HENT HENT
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6 Küngalv Arena, Ice Arenas Vestia Multi-activity house, preparing work SSEA Tegelviken HD 2, kindergarden SSEA New projects in the quarter – Sentia Sweden Location: Göteborg Developer: Kungälv municipality (2. of several enterprises) Contract value: 605 MSEK Scope: 25 000 sqm (of 50 000 sqm) Completion: 2028 Location: Gällivare Developer: Gällivare municipality (2. of several enterprises) Contract value: 180 MSEK Scope: 20 600 sqm Completion: 2029 Location: Eskilstuna Developer: Eskilstuna Kommunfastigheter AB (Kfast) Contract value: 107 MSEK Scope: 3 700 sqm Completion: 2027
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Major Phase 1 projects in the quarter 7 Location: Oslo Developer: Statsbygg Scope: 10 500 sqm Location: Narvik Developer: Nscale Capacity: 75 MW Development of basement 2 (K212), Government Quarter HENT Two data centres HENT
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One year since IPO
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The IPO and subsequent capital markets activities have contributed to a broader ownership structure in Sentia A broader shareholder base since the IPO 9 57 64 65 63 72 77 13.06.25 30.06.25 30.09.25 30.12.25 31.03.26 30.06.26 NOK per share Listing price: 50kr Major shareholders as of 30.06.2026 Number of shares Share Ratos Infra AB 30 936 813 30,7% Jan Jahren AS 12 143 664 12,0% DNB Asset Management AS 5 495 448 5,5% Arctic Asset Management 4 849 641 4,8% TIND Asset Management 1 903 413 1,9% Nordea Liv & Pension 1 704 377 1,7% Heimdal forvaltning AS 1 450 000 1,4% Folketrygdfondet 1 336 251 1,3% Melvin Invest AS 1 278 088 1,3% Mada Holding AS 1 217 327 1,2% Total of ten largest shareholders 62 315 022 61,7% Other shareholders 38 575 060 38,2% Total 100 890 082 100,0% 100,9 mill. Shares outstanding as of 30.06.2026 38,2% Other shareholders outside the top ten + 65% Return since IPO listing price: NOK 50 Ratos remains the largest shareholder, but has significantly reduced its ownership stake since the IPO
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Market development since the IPO 10 247 246 253 130 139 142 362 398 436 392 408 425 2024 2025F 2026F 1 131 1 191 1 256 Civil Residential Non-residential public Non-residential private 539 570 594 591 621 662 Norway Sweden Construction and engineering market, Norway & Sweden Fixed NOKbn A stable market development expected to recover Segment outlook & key momentum drivers Non- residential Public ’24-’26: +9,2% Non- residential Private ’24-’26: +2,4% Residential ’24-’26: +20,4% Larger projects (e.g., Hospital in Oslo) drive demand EU energy directive driving R&M-works Increased defence spending in coming years Warehouses and logistics driving demand due to structural changes Expected higher real wage growth Improved financing costs Norway and Sweden with strong economies and high levels of government spending support infrastructure spending Civil ’24-’26: +8,4% Interest rate cuts and inflation decrease Urbanisation and demographic skills Energy efficiency directives driving rehabilitation and rebuilding demand Anticipated regulatory relief in Sweden Starting point and expectations at the IPO – Spring 2025 Current status Market development has been more mixed than anticipated at the IPO 1 2 3 Growth in civil Weaker residential market Stable public non-residential market Sentia is well positioned in market segments with attractive activity Civil engineering market has experienced growth, and infrastructure-related construction is attractive for Sentia. The residential market has developed more slowly than anticipated at the IPO. Capacity from the sector has shifted into adjacent segments, raising competitive intensity in our core market. Public investments in education, healthcare, sports facilities, security and defence-related infrastructure remain key focus areas for Sentia 4 Cautious private non-residential market As a result of weaker growth in the traditional office segments, Sentia has increasingly focused on selected areas within industrial facilities, data centres and hotels.
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Sentia’s strategic growth areas – public sector 11 Education and sports Norwegian Ocean Technology Centre, Trondheim Kungälv arena, Kungälv – several enterprises Healthcare New Aker hospital, Oslo – several enterprises Ålesund hospital, Ålesund Commercial, security & defence Commercial • Bodø Airport, Bodø – several enterprises • The Fornebu Line, Oslo Public investments provide stability and support Sentia’s position in large and complex projects Multi-activity house, Gällivare – several enterprises Stockholm University of arts, Stockholm (private client) Security buildings Krokstad nursing home, Krokstad • Bergen Courthouse, Bergen • Vänersborgs District Court, Vänersborg • Borlänge Policehouse, Borlänge (private client) • Trondheim Prison, Trondheim Infrastructure (buildings) Fageråshjemmet, Bergen
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Sentia’s strategic growth areas – private sector 12 Industry Commercial Culture and events Selected private sector growth areas contribute to a more diversified project portfolio Data centre Other industry • Skive DC, Denmark: 30 MW – phase 0 • Nscale, Narvik: 25 MW – phase 2 • Nscale, Narvik: Two data centres of 75 MW – phase 1 • Skygard, Oslo: part 2 – phase 2 • Salmon Evolution, Indre Harøya (Aquaculture) Commercial phase 1 • NRK – new headquarter, Oslo • Equinor – headquarter, Stavanger Tinden, Stavanger Kaj 16, Gothenburg Rådhuskvartalet, Sandvika Fredrik Selmer Vei, Oslo The Whale, Andøya Spektrum District, Oslo
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Partnering and collaboration – since IPO 13 Partnering & collaboration allows aligned incentives between Sentia and the customer, reduces risks, leads to predictable profitability, and contributes to higher customer satisfaction 72% 28% Partnering and Collaboration Fixed price Revenue split, % 2024 Make up the majority of Sentia’s revenue
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Partnering and collaboration have increased further since the IPO 14 The development confirms that partnering and collaboration remains Sentia’s preferred execution model +8 Percentage points Partnering and Collaboration Fixed price Revenue split, % 2024 72% 28% Revenue split, % Q2 2026 80% 20% Partnering and Collaboration Fixed price
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15 NRK – new headquarter Oslo Development of Equinor’s new headquarter Stavanger Development of basement 2 Oslo Collaboration in practice – larger phase 1 Phase 1 - 2025 Phase 1- 2026 Phase 1- 2026 HENT The new headquarter of NRK – a future-oriented media hub featuring offices, studios and production facilities. Scope: 70 000 sqm New Equinor headquarter – rehabilitation of existing office facilities and construction of new buildings. Scope: 100 000 sqm Development of basement 2 within the Government quarter, located between Block A, Ring 1 and Møllergata. Scope: 15 000 sqm
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16 Kungälv Arena Kungälv Multi-activity house Gälliväre Stockholm University of Arts Stockholm Collaboration in practice – larger phase 1 and phase 2 projects Phase 1 - 2025 70,000 kvm Phase 1- 2026 100,000 kvm Phase 1- 2026 15 000 kvm Phase 1 - 2025 Phase 1 - 2024 Phase 1 - 2025 Phase 2 - 2026 Sentia Sweden A new sports, cultural and events venue. The project is being delivered through a strategic partnering model with several sub-projects awarded as the project progresses. Phase 2 infrastructure and phase 2 ice rinks are ongoing. Scope: 50 000 sqm A new meeting place for culture, sports and social activities. The facility includes among other things, an experience centre, sports and bowling facilities, a cinema and a library. Phase 2 infrastructure and phase 2 preparing works are ongoing. Scope: 20 600 sqm A new university facility for education, research and performing arts across multiple artistic disciplines. Partnering project with Atrium Ljungberg – one of Sweden’s largest listed real estate companies. Scope: 36 000 sqm
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Large organisation with broad geographic presence Stronger collaboration across Norway and Sweden 17 Key success factors differentiating Sentia from competitors A strong commuter culture, uncommon within construction Centralised project selection prioritising what’s best for Sentia Insights from ~200 individuals working specifically with sales & market 8 Offices 2024 1 272 Employees 2024 5 Offices 2024 152 Employees 2024 Starting point at IPO FROM PRESENCE TO COLLABORATION Current status Joint tendering has brought us closer We have submitted several joint tenders, although we have not yet secured a major jointly delivered project. At the same time, participation in several large tender processes have established closer ways of working across the Group. 01 02 03 Collaboration Procurement Contract We learn from each other’s approaches to early-stage project development, client engagement and execution models Joint tendering enables us to leverage the Group’s combined procurement expertise Closer collaboration strengthens our understanding of risk, contract terms and contracting strategy New Nordic opportunity Skive DC i Danmark: Initial agreement with CA data centre, part of CA Group
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One year since IPO Financial targets
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Growth toward financial target 2030 19 GROWTH TARGET NOK 15 bn. Revenue target for 2030 NOK 3,2 bn. Gap between 2025 revenue and the 2030 target Revenue growth 2025 Revenue og EBIT margin NOK in billions 10,5 11,8 6,5 15,0 2024 2025 2026 YTD 2030 Growth ’24-’25: +11,8% The 2030 revenue target of NOK 15bn appears highly achievable CAGR ’24-’30: +6,1% HENT GROWTH +4,4% Sentia Sweden GROWTH +54,3% MNOK Growth ’25-’26 + 13,4%
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Other financial targets of 2030 20 Sentia’s financial targets for 2030 are considered achievable Profitability EBIT-margin 2030 TARGET 2025 RESULT 5% 5,2% YTD ‘26 4,6% Dividend payout ratio % of net profit 2030 TARGET 2025 RESULT >70% 96% The 2025 results exceeds the financial target Capital efficiency ROACE 2030 TARGET 2025 RESULT >20% 34,6% Strong return on capital compared with the target level Solidity Equity ratio 2030 TARGET 2025 RESULT >20% 24,4% The equity ratio is above the long-term target 01 02 03 04 Dividend: MNOK 552 Q2 ‘26 as of 35,9% Q2 ’26 as of 22,2%
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Potential structural growth – letter of intent 21 Letter of intent to acquire a 70% stake in Thule Fastighetsutveckling AB. The transaction strengthens Sentia Sweden’s position in the Stockholm R&M market. 70% Of the shares to be acquired MSEK 287,5 Revenue 2025 MSEK 15,9 EBIT 2025 5,5% EBIT margin 2025 MSEK 65 EV, 100% basis Will complement Sentia’s position in Stockholm with profitable R&M expertise The transaction is subject to DD and a definitive purchase agreement. Completion excepted by the end of Q3 2026. Thule Fastighetsutveckling AB
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Second quarter Results and Financial status
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• Revenue growth of 14,2% in the quarter • Consistently strong profitability across the portfolio • Profit before tax for last year was impacted by revaluation of synthetic shares • 80% (78%) of revenue from partnering and collaboration 23 Q2 2026 - Sentia Revenue MNOK EBT og EBT margin MNOK 2 929 2 850 3 157 3 195 3 345 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 201 189 227 172 196 6,9% Q2 25 6,6% Q3 25 7,2% Q4 25 5,4% Q1 26 5,9% Q2 26 57% 43% 49% 18% 12% 12% 5% 1% 4% Commercial Education Public Adm. Health Residential Infrastructure Other Sports arena Private Public Quarter YTD MNOK Q2 2026 Q2 2025 2026 2025 Revenues 3 345 2 929 6 540 5 765 EBIT 156 128 300 231 EBT 196 201 369 315 EBIT margin 4,7% 4,4% 4,6% 4,0% EBT margin 5,9% 6,9% 5,6% 5,5%
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• Revenue growth of 5,8% • High activity in Norwegian Ocean Technology Centre, Aker Nscale, New Bodø Airport, and Oslo District contributes to increased activity during the quarter • HENT delivers solid operational performance both in the quarter and year-to-date • 74% (73%) of revenues from collaboration • Order intake of MNOK 2 412 (4 429) resulted in an order backlog of MNOK 13 900 (17 643) at the end of quarter 24 HENT Revenue MNOK EBT og EBT margin MNOK 2 365 2 312 2 398 2 509 2 503 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 164 172 203 154 161 6,9% Q2 25 7,4% Q3 25 8,5% Q4 25 6,1% Q1 26 6,4% Q2 26 59% 41% 52% 17% 9% 15% 1% 5% 1% Commercial Education Public Adm. Health Residential Infrastructure Other Sports arena Private Public Quarter YTD MNOK Q2 2026 Q2 2025 2026 2025 Revenues 2 503 2 365 5 013 4 694 EBIT 129 123 261 237 EBT 161 164 318 308 EBIT margin 5,2% 5,2% 5,2% 5,0% EBT margin 6,4% 6,9% 6,3% 6,6%
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• Revenue growth of 49,6% in the quarter – high number of projects in the production phase in 2026 and several project completions • Kaj 16 in Gothenburg, Mutli-activity House in Gällivare and the Policehouse in Borlänge all contributes to high activity during the quarter • Operations across the portfolio remain strong, and EBT for the quarter was further supported bye the handover of several smaller projects • 99% (100%) of revenues from partnering agreements • Order intake of MNOK 1 198 (1 588) resulted in an record high order backlog of MNOK 4 645 (3 698) 25 Sentia Sweden Revenue MNOK EBT og EBT margin MNOK 563 540 760 686 842 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 23 23 31 26 41 4,1% 4,3% 4,1% 3,8% 4,9% Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 52%48% 41% 18% 22% 16% 2% 1% Commercial Education Public Adm. Health Residential Infrastructure Sports arena Private Public Quarter YTD MNOK Q2 2026 Q2 2025 2026 2025 Revenues 842 563 1 528 1 070 EBIT 39 23 65 45 EBT 41 23 67 46 EBIT margin 4,6% 4,1% 4,3% 4,2 % EBT margin 4,9% 4,1% 4,4% 4,3 %
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26 Cashflow - Sentia Cashflow from operations MNOK 206 210 859 121 -316 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Quarter YTD MNOK Q2 2026 Q2 2025 _ 2026 EBIT 156 128 300 Deprecation 24 27 50 Paid taxes -383 -5 -388 Change in working capital -119 54 -167 Non-cash effect 6 2 Cashflow from operations -316 206 -195 _ _ _ Cashflow from investing activities 35 2 925 68 _ - - Divdends paid -552 -10 -552 Other financial activities -7 -56 -31 Cashflow from financing activities -559 -66 -583 Cashflow for the period -840 3 065 -710 2025 231 52 -13 -326 2 -54 _ _ 3 058 - - -784 -98 -882 2 122 10
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Cash and cash equivalents Interest-bearing debt 27 A strong financial position ensures stability and flexibility MNOK MNOK Net financial position MNOK 3 262 3 470 4 331 4 441 3 600 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 226 218 197 197 174 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 3 036 3 252 4 134 4 244 3 426 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26
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28 Balance sheet - Sentia Equity and debt MNOK MNOK 30.06.26 30.06.25 Non-current assets 1 377 1 439 Current assets, excl. cash 1 445 1 403 Cash and cash equivalents 3 600 3 262 Total assets 6 422 6 104 Equity 1 423 1 351 Long-term interest-bearing debt 104 139 Other long-term debt 67 333 Short-term interest-bearing debt 70 87 Other short-term debt 4 758 4 194 Total equity and debt 6 422 6 104 ___ _ 1 423 Equity 171 Long-term debt 4 828 Short-term debt EK-share 22,2% (22,1%) 31.12.25 1 427 1 191 4 331 6 949 _ 1 696 121 0 76 5 056 6 949
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EBIT Capital employed 29 Return on capital employed MNOK, 12-months rolling MNOK, average last four quarters Return on capital employed EBIT/average capital employed 517 523 576 617 646 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 1 822 1 735 1 668 1 795 1 801 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 28,4% 30,1% 34,6% 34,4% 35,9%
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Summary 30 • High activity with several major projects in the execution phase in both Norway and Sweden • Consistently strong profitability across the portfolio • Solid order backlog of NOKbn 18,5, corresponding to 1,57 x 2025 annual revenue • Numerous newly awarded phase 1 contracts provide a strong foundation for future execution projects • Very solid net financial position New Aker Hospital, Oslo
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Sentia builds responsibly – for people, society and the future Next quarterly presentation: Q3 – November 10, 2026