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FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026 • Profit from property management amounted to SEK 4,695m (5,176). Profit from property manage- ment attributable to the parent company’s shareholders amounted to SEK 4,345m (4,798), corresponding to a decrease per share of 8% to SEK 3.70 (4.03). Adjusted for Balder’s participation in the profit from property management from Norion Bank, the profit from property manage- ment per share increased instead by 6% compared with the same period in the previous year. • Long-term net asset value amounted to SEK 97.03 per share (93.03). • Rental income amounted to SEK 10,671m (10,269). • Profit after tax attributable to the parent company’s shareholders amounted to SEK 4,501m (5,851), corresponding to SEK 3.84 per share (4.92). FASTIGHETS AB BALDER is a listed property company that shall meet the needs of different customer groups for residential properties and premises based on local support. Balder’s property portfolio had a value of SEK 246.1 billion (229.5) as of 30 September 2026. The Balder share is listed on Nasdaq Stockholm, Large Cap. SKÅR 40:5 GOTHENBURG COMMERCIAL

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2 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026 CONTENTS The period in brief 3 Comments by the CEO 4 Current earning capacity 6 Income, costs and results 7 –8 Property portfolio 9 Changes in property portfolio 1 0 Customers 11 Financing 12–13 Sustainability 14–15 Associated companies 1 6 Other disclosures 1 7 Auditor’s report 1 8 Comprehensive income 1 9 Financial position 2 0 Cash flow 2 1 Segment information 2 2 Key ratios 2 3 Parent Company 2 4 The share and owners 2 5 Reconciliation of key ratios 2 6–29 Definitions 30 Contact information and calendar 3 1 SKÅR 40:5 GOTHENBURG

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3 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026 THE PERIOD IN BRIEF Comparisons stated in parenthesis refer to the corresponding period of the previous year. 2026 Jan–Sep 2025 Jan–Sep 2025 Jan–Dec 2024 Jan–Dec 2023 Jan–Dec 2022 Jan–Dec 2021 Jan–Dec 2020 Jan–Dec 2019 Jan–Dec Rental income, SEKm 10,671 10,269 13,721 12,876 11,944 10,521 8,956 8,134 7,609 Profit from property management, SEKm 1) 4,345 4,798 6,389 6,011 6,135 6,139 5,543 4,244 4,023 Changes in value of investment properties, SEKm 1,253 2,221 2,498 –760 –9,995 5,530 13,111 3,453 9,577 Changes in value of derivatives, SEKm 1,213 245 399 –21 –1,899 1,617 511 –141 –180 Profit after tax, SEKm 1) 4,501 5,851 7,621 3,304 –6,746 10,175 18,508 6,641 8,958 Investment properties, SEKm 242,745 225,927 225,196 221,261 209,000 213,932 189,138 149,179 141,392 Development properties, SEKm 3,315 3,547 3,384 1,955 2,750 3,421 2,697 2,803 2,344 Data per share Average number of shares, thousands 1,173,598 1,190,000 1,189,740 1,171,361 1,154,000 1,119,192 1,119,000 1,083,090 1,080,000 Profit after tax per share, SEK 3.84 4.92 6.41 2.82 –5.85 9.09 16.54 6.13 8.30 Profit from property management per share, SEK 3.70 4.03 5.37 5.13 5.32 5.48 4.95 3.92 3.73 Outstanding number of shares, thousands 2) 1,157,000 1,190,000 1,186,000 1,190,000 1,154,000 1,154,000 1,119,000 1,119,000 1,080,000 Equity per share, SEK 81.44 78.25 79.13 74.30 71.33 78.16 69.35 52.02 45.38 Long-term net asset value per share (NAV), SEK 97.03 93.03 93.96 88.31 85.06 92.10 83.96 64.56 56.95 Share price on closing date per share, SEK 47.01 67.34 68.20 76.80 71.52 48.52 108.63 71.48 72.20 1) Attributable to the parent company’s shareholders. 2) A s of 30 September 2026, the total number of shares issued amounted to 1,190,000,000, of which Fastighets AB Balder’s holding of its own shares amounted to 33,000,000 and the number of shares outstanding amounted to 1,157,000,000. As of 30 September 2025, Fastighets AB Balder owned none of its own shares and the total number of shares issued (and outstanding) amounted to 1,190,000,000. JUL Y–SEPTEMBER 2026 • Rental income amounted to SEK 3,642m (3,444), of which the effect of changes in exchange rates amounted to SEK –26m (–53). • Net operating income amounted to SEK 2,836m (2,678), of which the effect of changes in exchange rates amounted to SEK –18m (–41). • The surplus ratio amounted to 78% (78). • Profit from property management attributable to the parent company’s shareholders amounted to SEK 1,562m (1,640), corresponding to a decrease per share of 2% to SEK 1.34 (1.38). The decrease in the profit from property management is primarily due to the fact that Norion Bank is no longer included in the profit from property manage- ment from associated companies. Adjusted for Balder’s participation in the profit from property management from Norion Bank, the profit from property management per share increased instead by 11% compared with the same period in the previous year. • Unrealised changes in value of investment properties amounted to SEK 269m (853). The average yield requirement was 4.9% (4.9). • Changes in value of interest rate derivatives and option component convertible amounted to SEK 755m (469). • Profit after tax for the period amounted to SEK 1,772m (2,514). • Profit after tax for the period attributable to the parent company’s shareholders amounted to SEK 1,670m (2,390), corresponding to SEK 1.44 per share (2.01). • During the period, three investment properties were acquired at a total property value of SEK 642m. • During the period, one project property in Copenhagen was com - pleted and acquired from an associated company at a property value of SEK 760m. • During the period, the holding in associated company Anthon Eiendom AS was divested with a value of SEK 1,139m. • During the period, an additional 13,250,000 of the company’s own shares were repurchased at an amount of SEK 690m. JANUARY–SEPTEMBER 2026 • Rental income amounted to SEK 10,671m (10,269), of which the effect of changes in exchange rates amounted to SEK –76m (–156). • Net operating income amounted to SEK 8,047m (7,767), of which the effect of changes in exchange rates amounted to SEK –51m (–119). • The surplus ratio amounted to 75% (76). • Profit from property management attributable to the parent company’s shareholders amounted to SEK 4,345m (4,798), corresponding to a decrease per share of 8% to SEK 3.70 (4.03). The decrease in the profit from property management is primarily due to the fact that Norion Bank is no longer included in the profit from property management from associated companies. Adjusted for Balder’s participation in the profit from property management from Norion Bank, the profit from property management per share increased instead by 6% compared with the same period in the previous year. • Unrealised changes in value of investment properties amounted to SEK 1,262m (2,159). The average yield requirement was 4.9% (4.9). • Changes in value of interest rate derivatives and option component convertible amounted to SEK 1,213m (245). • Profit after tax for the period amounted to SEK 4,791m (6,158). • Profit after tax for the period attributable to the parent company’s shareholders amounted to SEK 4,501m (5,851), corresponding to SEK 3.84 per share (4.92). • Long-term net asset value amounted to SEK 97.03 per share (93.03). • During the period, 36 investment properties were acquired at a total property value of SEK 7,290m. The largest acquisition in terms of value is the office property wells&more in central London. • During the period, one project property in Copenhagen was completed and acquired from an associated company at a property value of SEK 760m. • During the period, an additional 29,000,000 of the company’s own shares were repurchased at an amount of SEK 1,585m. Balder’s total holding of its own shares is 33,000,000 shares. • The 2026 Annual General Meeting resolved, in accordance with the Board’s proposal, to distribute the Company’s entire holding of shares in Norion Bank AB, corp. ID no. 556597–0513, with the record date set for 12 May 2026.

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4 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026 COMMENTS BY THE CEO Dear shareholders, They say time flies when you’re having fun. I have the best job in the world, and I truly enjoy it. I would like to share a broad overview of what the last few months have looked like and what we have been up to here in the Balder family. I have spent a great deal of time meeting with most of our banks and with investors, having many fruitful discussions. The funding market remains very strong, and here I feel encouraged to continue on our chosen path. Our equity investors have also been very clear about their views on share buybacks, and have been wondering about my thoughts about this going forward. Regarding share buybacks, the answer is simple: right now, it is the best investment available. During the quarter, we repurchased approximately 13 million shares, and we will continue to do so as long as the stock remains significantly discounted and offers a higher return com- pared to other investments. Balder has longstanding relationships with municipalities and partners in several countries. The discussions we have held with these parties over an extended period have now resulted in transactions during the past quarter. These have no material impact on Balder’s balance sheet and do not alter my perspective on share buybacks. Having spent all of these years at Balder, I have concluded that I need to re-evaluate my own approach, and the way we work today. I have asked the entire Group Management Team to do the same, both in their own roles and within their respective teams across all countries. This is not because we are doing anything wrong, but to explore how we can improve and become even more cost-efficient. The goal is to reduce costs and lower the vacancy rate. These are not major, organisation-wide changes, but rather a re-evaluation of how we have done things in the past. A series of small adjustments that I believe can lead to better overall results. I have also been very active in meeting with various decision-makers regarding our social sustainability initiatives. The objective is to engage more municipalities in collaborations across several locations where Balder owns properties. I initiated this work more than 20 years ago, and it is essential that we continue to further develop it. Balder’s cornerstones In my last CEO statement, I touched upon Balder’s four cornerstones. I would like to elaborate on what the Group Management Team and I have been focusing on: 1. C apital allocation and financing Regarding capital allocation, share buybacks have been a clear priority this quarter. This makes sense considering the current share price, as I mentioned in my introduction. During the quarter, we have repurchased approximately 13 million shares, representing an annual rate of nearly 5% of the total outstanding shares, which is a pace that currently suits us well. 2. F ully leased properties Our organisation continues its intensive efforts in leasing. While the vacancy rate remains a few tenths of a percentage point higher than it was a year ago, it has remained stable since the beginning of the year. The occupancy rate is holding steady at 95%. The macro economic trends in our four main markets remain positive, with growth across all the Nordic countries noticeably exceeding the EU average. 3. D isciplined investments and cost management We cannot influence the market or everything happening in the world around us, but we can influence how we work and how we utilise our resources. As part of our efforts to adjust our costs while simultaneously moving closer to our customers, we have decided to relocate the head office of our Norwegian subsidiary Asset Buyout Partners from Oslo to Trondheim. In connection with this move, certain management changes are also being implemented at ABP. Pål Oxaal, who already serves as CEO of Balder-owned Bolig Norge, is now leading operations forward, with a continued focus on our properties and customers. 4. S atisfied customers and employees Our entire business relies on high occupancy and satisfied customers, which is why this area has always been a priority, and will continue to be so. Our annual customer satisfaction surveys are currently underway, and we will return to this topic in the next report. Market conditions I see stable development in our operations. Balder’s rental income and net operating income for the third quarter increased by 6% compared to the previous year, in spite of a like-for-like growth of only 1.2%. At the same time, we see fixed income markets pricing in a bleaker outlook for inflation, and stock markets a weaker performance for the real estate sector as a result. " THE GOAL IS TO REDUCE COSTS AND LOWER THE VACANCY RATE. THESE ARE NOT MAJOR, ORGANISATION-WIDE CHANGES, BUT RATHER A RE-EVALUATION OF HOW WE HAVE DONE THINGS IN THE PAST. A SERIES OF SMALL ADJUSTMENTS THAT I BELIEVE CAN LEAD TO BETTER OVERALL RESULTS."

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5 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026 COMMENTS BY THE CEO Profit from property management and earnings capacity Profit from property management per share for the third quarter, excluding Norion Bank, increased by 11% compared to the third quarter last year. Our earnings capacity also saw an 11% increase in profit from property management per share excluding Norion, which is a healthy level of underlying growth. Net asset value per share has increased by 9% com - pared to the third quarter of 2025, including the distribution of Norion at book value. Transactions and investments We continue to prioritise a balanced capital allocation with a focus on long-term value creation, financial stability and shareholder value. As you can see, acquisitions decrease in favour of share buybacks in the quarter. During the period, a development property in Copenhagen has been finalised and acquired from an associated company in a previously agreed deal for a property value of SEK 760m, and additional properties have been acquired for a total property value of SEK 642m. Development projects are progressing according to plan, continuing at a historically low pace as we see higher returns in other investments. The projects that are underway will contribute nicely to our long-term and overall business, and project development continues to be a natural part of Balder’s business. Financing and leverage Our financing is well diversified between the banking and capital markets with a balanced maturity structure and good access to funding. Conditions in the funding market continued to be good during the quarter, with favorable terms both in banking and the capital market. During the quarter, we utilised the favourable conditions by issuing a bond of SEK 500m at the lowest credit spreads since 2021. Shared priorities and strong collaboration I am very pleased with how closely we collaborate in the Group Manage - ment Team, and how our common priorities shape our day-to-day work. I really hope that the entire company will feel the clarity and continuity that a close-knit management team can bring. It is usually a good recipe for well-being as well as strong performance. Finally, I would like to say a big thank-you to all my fantastic colleagues for your huge commitment! Sharam Rahi Chief Executive Officer TORVEPORTEN COPENHAGEN 170 RENTAL APARTMENTS

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6 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026 Balder presents its earning capacity on a twelve-month basis in the table below. It is important to note that the current earning capacity should not be placed on a par with a forecast for the coming twelve months. The earning capacity does not contain, for example, an estimate of rental, vacancy, currency or interest rate changes. Balder’s income statement is also impacted by the development in the value of the property portfolio as well as future property acquisitions and/or property divestments. Additional items affecting the net profit are changes in value of derivatives . None of the above has been considered in the current earning capacity. The earning capacity is based on the property portfolio’s contracted rental income, estimated property costs during a normal year as well as administrative expenses. The costs of the interest-bearing liabilities are based on the Group’s average interest rate level including the effect of derivative instruments. Tax is calculated using the effective tax rate during each period. CURRENT EARNING CAPACITY SEKm 2026 30 Sep 2026 30 Jun 2026 31 Mar 2025 31 Dec 2025 30 Sep 2025 30 Jun 2025 31 Mar 2024 31 Dec 2024 30 Sep 2024 30 Jun 2024 31 Mar Rental income 14,700 14,500 14,200 13,800 13,800 13,700 13,500 13,800 13,000 12,800 12,700 Property costs –3,500 –3,500 –3,400 –3,300 –3,300 –3,300 –3,200 –3,400 –3,200 –3,150 –3,100 Net operating income 11,200 11,000 10,800 10,500 10,500 10,400 10,300 10,400 9,800 9,650 9,600 Surplus ratio, % 76% 76% 76% 76% 76% 76% 76% 75% 75% 75% 76% Management and administrative costs –1,200 –1,200 –1,200 –1,100 –1,100 –1,100 –1,100 –1,100 –1,100 –1,100 –1,100 Profit from property management from associated companies 1) 1,200 1,200 1,200 1,200 1,900 1,900 1,900 1,900 2,000 2,000 1,950 Operating profit 11,200 11,000 10,800 10,600 11,300 11,200 11,100 11,200 10,700 10,550 10,450 Net financial items, including ground rent –4,600 –4,400 –4,300 –4,200 –4,200 –4,100 –4,200 –4,200 –4,200 –4,200 –4,200 Of which non-controlling interests –500 –500 –400 –400 –500 –500 –500 –500 –450 –450 –400 Profit from property management 2) 6,100 6,100 6,100 6,000 6,600 6,600 6,400 6,500 6,050 5,900 5,850 Tax3) –1,200 –1,200 –1,200 –1,200 –1,300 –1,300 –1,300 –1,300 –1,250 –1,200 –1,210 Profit after tax 4,900 4,900 4,900 4,800 5,300 5,300 5,100 5,200 4,800 4,700 4,640 Profit from property management per share, SEK 5.27 5.21 5.17 5.06 5.55 5.55 5.38 5.46 5.16 5.03 4.99 1) A s of 31 December 2025, Norion Bank is no longer included in Balder’s earning capacity under the line “Profit from property management from associated companies”. Reporting in accordance with the equity method ceased with the Board’s proposal that the 2026 AGM should pass a resolution to distribute Balder’s holding in Norion Bank. 2) Attributable to the parent company’s shareholders. 3) Refers primarily to deferred tax, which has no effect on cash flow. In the current earning capacity as of 30 September 2026, the following exchange rates were used to translate foreign subsidiaries’ income statement items. EUR: 11.33 DKK: 1.52 NOK: 1.04 GBP: 13.26 CURRENT EARNING CAPACITY ON A TWELVE-MONTH BASIS

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7 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026 INCOME, COSTS AND RESULTS Profit from property management Profit from property management for the period amounted to SEK 4,695m (5,176). Profit from property management attributable to the parent company’s shareholders amounted to SEK 4,345m (4,798), corresponding to a decrease per share of 8% to SEK 3.70 (4.03). Profit from property management includes SEK 883m (1,445) in respect of associated companies. The decrease in the profit from property management is primarily due to the fact that Norion Bank is no longer included in the profit from property management from associated companies. Adjusted for Balder’s participation in the profit from property management from Norion Bank, the profit from property management per share increased instead by 6% compared with the same period in the previous year, despite headwind from currency effects and higher interest expenses due to higher interest-bearing liabilities. Profit after tax Profit after tax for the period amounted to SEK 4,791m (6,158). Profit after tax attributable to the parent company’s shareholders amounted to SEK 4,501m (5,851), corresponding to SEK 3.84 per share (4.92). Profit before tax was impacted by unrealised changes in the value of investment properties of SEK 1,262m (2,159), realised changes in the value of investment properties of SEK –9m (62), profit from the sale of development properties of SEK 1m (–3), changes in value in interest rate derivatives and option component convertible of SEK 1,213m (245), of which the option component convertible amounted to SEK 716m (452), and profit from participations in associated companies of SEK –220m (1,124). Rental income Rental income increased by 4% to SEK 10,671m (10,269), of which the effect of changes in exchange rates amounted to SEK –76m (–156). This increase is due to acquisitions and completed projects for own management, as well as an increase in the index for commercial premises and increased residential rents. The lease portfolio had a rental value on 30 September of SEK 15,513m (14,463). The average rental level for the whole property portfolio amounted to SEK 2,254 per sq.m. (2,177) excluding project properties. The rental income in a comparable portfolio increased by 1.2% (2.9) after adjustment for changes in exchange rates. Rental income shows a considerable diversification of risk with regard to tenants, sectors and locations. The economic occupancy rate as of 30 September was 95% (95). The total rental value of unlet areas at the end of the period amounted to SEK 813m (663). Property costs Property costs for the period amounted to SEK –2,624m (–2,502), of which the effect of changes in exchange rates amounted to SEK 24m (37). Net operating income amounted to SEK 8,047m (7,767), representing a surplus ratio of 75% (76). Operating costs usually vary with the seasons. During a normal year, the first and fourth quarters have higher costs than the other quarters, while the third quarter usually has the lowest cost level. SKIBBROEN COPENHAGEN 184 RENTAL APARTMENTS

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8 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026 INCOME, COSTS AND RESULTS Management and administrative costs Management and administrative costs for the period amounted to SEK –906m (–849), of which the effect of changes in exchange rates amounted to SEK 7m (16). Participations in profits from associated companies and joint ventures Balder owns property managing and project developing associated companies, see note 14 in the Annual and Sustainability Report for 2025. Profit from participations in associated companies and joint ventures during the period amounted to SEK –220m (1,124), and Balder’s participation in the associated companies’ profit from property management amounted to SEK 883m (1,445). Profit before tax was impacted by SEK –1,043m (–14) as a result of unrealised changes in value in respect of the properties and interest rate derivatives. The tax expense for the period amounted to SEK –59m (–306). No profit participation under the equity method from Norion Bank has been recognised in the income statement during 2026. The distribution of the shares in Norion Bank during the period reduced the parent company’s equity is reduced by the book cost of SEK 1,196m. The Group’s equity was reduced during the period by the Group value in Norion Bank of SEK 4,850m. Net financial items and changes in the value of derivatives Net financial items amounted to SEK –3,331m (–3,187), of which the effect of changes in exchange rates amounted to SEK 25m (44). Changes in value of interest rate derivatives and option component convertible amounted to SEK 1,213m (245), of which option component convertible amounted to SEK 716m (452). Unrealised changes in value do not affect cash flow. The average interest rate for net financial items as of 30 September was 3.0% (2.9). As of 30 September, available liquidity including confirmed loan com - mitments was SEK 24,935m (24,124). The Net debt/EBITDA was 13.0 times (12.0), an improvement of 0.3 times compared with the first half of the year. Changes in value of investment properties Balder conducted an individual internal valuation of the entire property portfolio as of 30 September, see also page 10. Unrealised changes in value during the period amounted to SEK 1,262m (2,159). Realised changes in value amounted to SEK –9m (62). The average yield requirement as of 30 September was 4.9% (4.9). Profit from sales of development properties The profit from the sales of development properties is recognised when the buyer takes possession of the property. In addition to the cost, selling and marketing expenses are also included of SEK –21m (–21), which are recognised as expenses on an ongoing basis during the period. Profit from sales for the period amounted to SEK 1m (–3) after deductions for selling and marketing expenses, and includes the profit reporting from a tenant-owner apartment project and the sale of individual tenant- owner apartments. Tax The Group’s total tax amounted to SEK –1,269m (–1,161), of which the effect of changes in exchange rates amounted to SEK 9m (17). The current tax expense for the period amounted to SEK –288m (–366). The current tax expense attributable to the parent company’s shareholders amounted to SEK –242m (–312). The deferred tax expense for the period amounted to SEK –981m (–795). Tax has been calculated using the current tax rate in each country. The Group’s deferred tax liability has been calculated as the value of the net of fiscal deficits and the temporary difference between the carrying amounts and values for tax purposes primarily of properties and interest rate derivatives. The deferred tax liability amounted to SEK 19,113m (17,846). The majority of the companies in the Group operate in countries that have adopted and implemented the global minimum tax, known as Pillar 2. The Group’s calculations of effective tax for each country do not indicate a significant effect on the Group. Cash flow Cash flow from operating activities before changes in working capital amounted to SEK 3,396m (3,519). Investing activities burdened cash flow by a net figure of SEK –7,897m (–8,010). Cash flow from financing activities amounted to SEK 4,176m net (8,454). Total cash flow for the period was SEK –749m (3,391). The exchange rate difference in cash and cash equivalents amounted to SEK 64m (–47). In addition to unutilised credit facilities of SEK 14,010m (12,383), the Group’s cash and cash equivalents, financial investments and unutilised overdraft facilities amounted to SEK 10,925m (11,741) as of 30 September. Available liquidity including confirmed credit commitments thus amounted to SEK 24,935m (24,124). Third quarter 2026 Profit from property management for the third quarter of 2026 amounted to SEK 1,690m (1,782). Profit from property management attributable to the parent company’s shareholders for the third quarter of 2026 amounted to SEK 1,562m (1,640), corresponding to a decrease per share of 2% to SEK 1.34 (1.38). Adjusted for Balder’s participation in the profit from property management from Norion Bank, the profit from property management per share increased instead by 11% compared with the same period in the previous year. Profit from property management included SEK 291m (472) in respect of associated companies. Rental income amounted to SEK 3,642m (3,444) and property costs amounted to SEK –806m (–766), which meant that net operating income increased by 6% to SEK 2,836m (2,678), of which the effect of changes in exchange rates affected net operating income by SEK –18m (–41). The surplus ratio amounted to 78% (78). Profit after tax for the period amounted to SEK 1,772m (2,514). Profit after tax attributable to the parent company’s shareholders amounted to SEK 1,670m (2,390), corresponding to SEK 1.44 per share (2.01). Profit was impacted by unrealised changes in the value of investment properties of SEK 269m (853), realised changes in the value of investment properties of SEK –1m (–11), profit from the sale of development properties of SEK –1m (–9), changes in value in interest rate derivatives and option component convertible of SEK 755m (469), and profit from participations in associated companies of SEK –133m (472). The Group’s total tax amounted to SEK –516m (–569). The current tax expense for the period amounted to SEK –93m (–157). The deferred tax expense for the period amounted to SEK –423m (–412). Personnel and organisation As of 30 September, the Group had 1,184 coworkers (1,155), of whom 460 were female (449). Balder operates in six countries and is organised into seven regions. The head office with Group-wide functions is located in Gothenburg. Parent company The parent company’s operations consist primarily of performing Group- wide services, but an important part also relates to sales of services, principally to associated companies. Net sales in the parent company amounted to SEK 468m (418) during the period. Profit after tax for the period amounted to SEK 896m (4,951). Other net financial items amounted to SEK –171m (2,891), of which exchange rate differences amounted to SEK –1,255m (729) and changes in value in respect of interest rate derivatives and option component convertible amounted to SEK 1,085m (229). Reported exchange rate differences relate primarily to the translation of the Group’s euro bonds, which from a Group perspective are used for hedging foreign net investments. The parent company also applies hedging of foreign net investments in respect of some of the company’s euro bonds.

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9 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026 At the end of the period, Balder owned 2,057 investment properties (2,017) with a lettable area of 6,874 thousand sq.m. (6,636) at a value of SEK 242,745m (225,927). Balder’s total rental value excluding projects amounted to SEK 15,492m (14,443). In addition to investment properties, Balder owns development properties with an acquisition cost of SEK 3,315m (3,547). The value of the total property portfolio amounted to SEK 246,060m (229,474). Balder’s commercial properties are located primarily in the central areas of major cities, and the residential properties are located in metropolitan regions and in places that are growing and developing positively in each country. Balder’s ambition is to continue growing in selected markets. PROPERTY PORTFOLIO BALDER’S PROPERTY PORTFOLIO AS OF 30/09/2026 1) Number of investment properties Lettable area, sq.m. Rental value, SEKm Rental value, SEK/sq.m. Rental income, SEKm Economic occupancy rate, % Carrying amount, SEKm Carrying amount, % Distributed by region Helsinki 790 1,405,001 3,873 2,757 3,713 96 58,235 24 Stockholm 104 864,858 2,155 2,492 1,977 92 34,030 14 Gothenburg 224 1,347,244 2,770 2,056 2,614 94 45,181 18 Copenhagen 30 421,358 1,337 3,174 1,333 100 28,351 12 South 115 659,649 1,396 2,116 1,285 92 20,253 8 East 521 1,161,827 2,353 2,025 2,257 96 31,449 13 North 273 1,014,385 1,606 1,584 1,501 93 21,872 9 Total excluding projects 2,057 6,874,322 15,492 2,254 14,679 95 239,370 97 Projects for own management 21 21 3,375 1 Total investment properties 2,057 6,874,322 15,513 2,254 14,700 95 242,745 99 Development properties 3,315 1 Total property portfolio 2,057 6,874,322 15,513 2,254 14,700 95 246,060 100 Distributed by property category Residential 1,449 3,208,045 7,779 2,425 7,477 96 125,186 51 Office 115 723,972 2,353 3,250 2,070 88 37,950 15 Retail 181 1,260,470 2,151 1,707 2,059 96 27,403 11 Industrial/Logistics 207 908,616 1,321 1,454 1,230 93 16,925 7 Other 105 773,218 1,888 2,441 1,843 98 31,905 13 Total excluding projects 2,057 6,874,322 15,492 2,254 14,679 95 239,370 97 Projects for own management 21 21 3,375 1 Total investment properties 2,057 6,874,322 15,513 2,254 14,700 95 242,745 99 Development properties 3,315 1 Total property portfolio 2,057 6,874,322 15,513 2,254 14,700 95 246,060 100 1) T he above table refers to properties that Balder owned at the end of the period. Properties sold have been excluded and properties acquired have been adjusted to full-year values. Other properties include hotel, educational, care and mixed-use properties. Helsinki, 24 Gothenburg, 20 East, 13 Copenhagen, 12 North, 9 South, 8 Stockholm, 14 CARRYING AMOUNT DISTRIBUTED BY REGION, TOTAL PROPERTY PORTFOLIO, % Residential, 53 O/f_f.shortice, 15 Retail, 11 Other, 13 CARRYING AMOUNT DISTRIBUTED BY PROPERTY CATEGORY, TOTAL PROPERTY PORTFOLIO, % Industrial/Logistics, 7

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10 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026 Investment properties Balder’s investment properties are reported on the basis of internal valuations. Properties in Sweden, Denmark, Finland, Norway, Germany and the UK are valued using the yield method. Properties under construction and project properties for own manage - ment are valued at market value reduced by estimated building expenditure and project risk. As of 30 September, Balder’s average yield requirement was 4.9% (4.9) excluding project properties for own management. The average yield requirement for residential properties amounted to 4.3% (4.4) and for commercial properties to 5.5% (5.5). To quality-assure its internal valuations, Balder uses external valuation companies in order to have parts of the portfolio valued externally and to secure parameters and assumptions in the valuation calculations. Deviations between external and internal valuations have historically been insignificant. For further information about the company’s valuation model, see Note 12 in Balder’s Annual and Sustain- ability Report 2025. Unrealised changes in value of investment properties The overall carrying amount of Balder’s investment properties amounted to SEK 242,745m (225,927) on 30 September . The unrealised change in value during the period amounted to SEK 1,262m (2,159). Investments, acquisitions and divestments During the period, a total of SEK 10,021m (10,665) was invested in respect of investment properties, of which SEK 8,050m (9,224) relates to acquisitions, including one project property that was acquired from an associated company with a value of SEK 760m, and SEK 1,970m (1,441) in respect of investments in existing properties and projects for own management. Investment properties and land were divested during the period with a sales value of SEK 409m (2,489). Realised changes in value from the divestments amounted to SEK –9m (62). CHANGES IN PROPERTY PORTFOLIO CHANGE IN CARRYING AMOUNT OF PROPERTIES 2026 2025 SEKm Number 1) SEKm Number 1) Investment properties, 1 January 225,196 2,023 221,261 1,962 Investments in existing properties and projects 1,970 1,441 Acquisitions 8,0502) 372) 9,224 65 Divestments –417 –2 –2,427 –10 Changes in value of investment properties, unrealised 1,262 2,159 Currency changes 6,684 –4,363 Reclassification – –1 –1,367 – Investment properties, 30 September 242,745 2,057 225,927 2,017 Development properties, 1 January 3,384 1,955 Investments in projects 565 252 Divestments –634 –27 Reclassification – 1,367 Development properties, 30 September 3,315 3,547 Total property portfolio, 30 September 246,060 229,474 1) Number of investment properties. 2) Of which SEK 760m relates to a project property in Copenhagen that has been completed and acquired from an associated company.

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0 750 250 500 1,500 2,000 2,250 1,750 SEKm 1,000 1,250 2026 2027 2028 2029 2030 2031 2032 2033 2034- MATURITY STRUCTURE OF COMMERCIAL LEASE CONTRACTS 2,500 In order to limit the risk of lower rental income and a weakened occupancy rate, Balder strives to develop long-term relationships with the company’s existing customers. Balder has a good diversification as regards the distribution between residential and commercial properties as well as the geographical distribution. The diversification strengthens the possibilities of maintaining a steady and satisfactory occupancy rate. Balder’s commercial leases have an average lease term of 6.6 years (6.5). Balder’s ten biggest leases account for 4.0% (4.2) of total rental income, and their average lease term is 13.2 years (14.2). The economic occupancy rate in the commercial portfolio was 93% (94) at the end of the period. CUSTOMERS Measuring increased customer satisfaction Balder undertakes long-term, goal-oriented work to understand what customers think and need in their homes and premises. The objective is increased customer satisfaction in both the short and the long term. As an element of this, customer surveys are conducted on an ongoing basis, with the results forming the basis of central and local activities and measures. In Sweden, customer satisfaction is measured in the categories of Residential, Commercial and Residential New Production and compiled in a Customer Satisfaction Index (CSI). The most recent surveys were conducted in autumn 2025 and the results indicated a continued positive trend, with customer satisfaction at a good, stable level. The CSI for current residential tenants was an average of 68 (68) 1), while the CSI for commercial tenants was 76 (75) 1). As Balder did not complete any of its own rental pro - jects in Sweden during 2025, there was no CSI outcome for Residential New Production, although 2024 saw a CSI of 81. The 2026 survey is being con - ducted during the autumn and will be presented in the next quarterly report. LEASE MATURITY STRUCTURE, 30/09/2026 Maturity date Number of leases Share, % Contracted rent, SEKm Share, % 2026 1,112 21 215 1 2027 1,341 25 674 5 2028 886 17 661 4 2029 675 13 877 6 2030– 1,261 24 4,773 32 Total commercial 5,275 100 7,199 49 Residential 1) 52,108 7,310 50 Car park1, 2) – 73 0 Indoor parking spaces 1, 2) – 118 1 Total 57,383 14,700 100 1) Normally has a period of notice of three months. 2) In certain cases, Balder engages external car park operators, hence reporting of the number of rental contracts is not applicable. 1) Values in parenthesis refer to the 2024 survey. 0 SEKm RENTAL INCOME AND PROFIT FROM PROPERTY MANAGEMENT Rental income Pro/f.shortit from property management attributable to parent company's shareholders 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2025/2026 Oct-Sep 4,000 2,000 6,000 8,000 10,000 14,000 16,000 12,000 11 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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FINANCIAL KEY RATIOS 2026 30 Sep 2025 30 Sep 2025 31 Dec Interest-bearing liabilities, SEKm 155,079 145,206 143,307 Available liquidity including confirmed loan commitments, SEKm 24,935 24,124 23,724 Average fixed credit term, years 4.8 4.7 4.6 Average fixed interest term, years 2.4 2.9 2.7 Net debt/EBITDA, times 13.0 12.0 12.0 Financial covenants Net debt to total assets < 65, % 50.2 48.3 48.1 Interest coverage ratio > 1.8, times (rolling 12-months) 2.4 2.7 2.7 Secured debt/Total assets < 45, % 24.1 23.1 23.4 Credit rating S&P BBB Stable outlook BBB Stable outlook BBB Stable outlook FINANCIAL TARGETS Targets Outcome Equity/assets ratio, % min. 40.0 37.3 Net debt to total assets, % max. 50.0 50.2 Interest coverage ratio, times (rolling 12-months) min. 2.0 2.4 Net debt/EBITDA, times (rolling 12-months) max. 11.0 13.0 Unsecured bonds, 48 Secured bank loans, 45 Unsecured bank loans, 6 FINANCING SOURCES, % Commercial papers, 0 Unsecured loans, 85,599 Secured loans, 69,479 DISTRIBUTION OF SECURED AND UNSECURED LOANS, SEKm Balder has assets in Sweden, Denmark, Finland, Norway, Germany and the UK, which means that the Group is exposed to currency risks. Balder therefore has a well-diversified financing structure with bonds and bank financing in several currencies. Balder values long-term relationships with its credit providers, which primarily comprise the major Nordic banks and capital market investors. Balder’s financing sources consist of bonds issued in euros in the Euro- pean bond market under Balder’s EMTN programme, bank loans in various currencies, a domestic MTN programme, as well as a commercial paper programme in SEK and EUR. Balder may from time to time seek to retire or repurchase outstanding debt through open market purchases, privately negotiated transactions, tender offers, exchange offers or other agreements. Such repurchases, if any, will depend on market conditions, liquidity requirements, contractual restrictions and other factors. The amounts subject to such repurchases may be material. The funding market was characterised by continued good access to capital during the quarter, and favourable conditions in both bank and capital market. In early September, a three-year green bond of SEK 500m was issued in the Swedish capital market at the lowest credit spreads since 2021. Interest-bearing debt increased by SEK 1.9 billion during the quarter compared with the previous quarter, driven by exchange rate movements, while interest-bearing debt at constant exchange rates decreased slightly. As of 30 September, available liquidity including confirmed loan commitments was SEK 24.9 billion (24.1). Net debt in relation to EBITDA on a rolling 12-month basis is 13.0. Balder’s fixed interest term as of 30 September was 2.4 years (2.9), and the fixed credit term was 4.8 years (4.7). As of 30 September, approxi - mately 75% (80) of loans were hedged with interest rate swaps and fixed- interest loans. Balder has obligations to its financiers in the form of financial key ratios, so-called covenants. All covenants were fulfilled as of the end of the quarter. FINANCING 12 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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INTEREST FIXING STRUCTURE 30/09/2026 Year SEKm Interest, % Share, % 2026 42,667 3.11) 28 2027 21,757 2.4 14 2028 21,578 3.0 14 2029 17,709 2.2 11 2030 13,576 2.2 9 2031 17,594 3.0 11 2032 9,603 3.8 6 2033 5,666 4.1 4 2034 1,239 2.8 1 2035 – – – 2036– 3,690 3.7 2 Total 155,079 3.0 100 1) The average interest rate for the current year includes the margin for the variable part of the debt portfolio. MATURITY STRUCTURE INTEREST-BEARING LIABILITIES 30/09/2026 Year SEKm Share, % 2026 4,141 3 2027 23,925 15 2028 26,837 17 2029 32,059 21 2030 18,092 12 2031 14,614 9 2032 5,826 4 2033 6,867 4 2034 390 0 2035 3,901 3 2036– 18,426 12 Total 155,079 100 FINANCING 40 58 46 52 70 % 64 NET DEBT TO TOTAL ASSETS 2016 2017 2018 2019 2020 2021 2022 2023 2025 20262024 3 4 5 7 6 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Years AVERAGE FIXED CREDIT TERM INTEREST/hyphen.ucBEARING LIABILITIES 0 4 2 1 3 6 Years 5 2016 2017 2018 2020 2021 2022 2023 2024 AVERAGE FIXED INTEREST TERM 2019 2025 2026 SEKm MATURITY STRUCTURE INTEREST/hyphen.ucBEARING LIABILITIES Commercial paperBank loans Bonds Convertible 0 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036- 5,000 15,000 20,000 10,000 25,000 13 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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Balder’s sustainability work As a long-term property owner, Balder strives to assume social, environmental and financial responsibility. This includes not only minimising the environmental impact of operations, but also maximising the positive impact on society, both locally and globally. Balder has signed the Global Compact, the UN’s set of international principles aimed at companies in the areas of human rights, labour law matters, the environment and anti-corruption. Balder strives to contribute to achieving the UN Global Sustainable Development Goals and has selected six of the 17 goals that are considered most relevant and where the company has the greatest opportunity to have an influence. In order to link these more closely to the business operations, the associated targets have also been identified in those areas where the company has the greatest opportunity to contribute to the goals being achieved. Climate targets Balder has undertaken to set science-based climate targets in line with the Paris Agreement. This involves halving emissions in its own operations (Scope 1 and 2) by 2030, with 2022 as the base year, and measuring and reducing emissions in the value chain. The company has also set a target to achieve net zero emissions throughout the value chain (Scope 1, 2 and 3) by 2045. The climate targets were validated by the Science Based Targets initiative during 2024. The company has an approved climate transition plan that outlines the specific measures required to achieve its climate targets. Implementation of these measures is ongoing in accordance with the plan. 2045 NET ZERO EMISSIONS 2030 HALVED EMISSIONS SUSTAINABILITY SUSTAINABILITY AT BALDER ENVIRONMENTAL SOCIAL GOVERNANCE Targets • No incidents of discrimination or victimisation • Implement various social initia - tives that contribute to the development of Balder’s five social pillars • Create job opportunities, within the organisation and through collaboration, for individuals who face difficulties entering the labor market Targets • No cases of corruption • All employees shall receive annual training on anti-corrup - tion and review the company’s Code of Conduct Targets • 50% reduction in emissions from own operations by 2030 and achieve net zero emissions i n the value chain by 2045 • Energy efficiency improvement 2% per sq.m. and year and increased volume of renewable e nergy production • Phase out fossil fuels from operations and transition to renewable sources for electricity, heating, machinery, and transport by 2030 • Conduct climate risk analyses for the property portfolio • All newly produced properties must as a minimum fulfil Miljöbyggnad Silver or equivalent certification and comply with the requirements of the EU Taxonomy • Increase the proportion of environmentally certified buildings in Balder’s current property portfolio • Increase the proportion of green financing • Reduced water use 2% per sq.m. and year • Preserve and increase biodiversity in property management and in connection with property development • Reduce waste volumes, increase the level of sorting and strive to achieve increased reuse of materials Climate change Water Resource use and circular economy Own employees Workers in the value chain Customers and and social area development Business conduct 14 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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True to tradition, the summer of 2026 saw Balder once more giving several young people the chance to try their hand at work, develop new skills and pick up valuable experiences for the future. In Sweden, Denmark and Finland, young people were given the opportunity in various ways to work and grow. Social engagement is a key element of Balder’s operations and a way of contributing to local communities and areas. The work is based on five social pillars, one of which is employment, with a focus on improving employability and creating more long-term employment opportunities and holiday jobs. As with social area development in general, Balder’s job initiatives are adapted to local needs and conditions. In summer 2026, Balder Sweden welcomed or found summer jobs through partnerships for more than 380 young people and young adults. In Bredsand, near Sundsvall, 20 or so young people organised activities for children in collaboration with Save the Children, Hej främling! (Hello Stranger!) and Fritidsbanken, a lending library for leisure items. In Gothen- burg, Balder collaborated with, among others, Tidsnätverket i Bergsjön and Street Games, creating more than 100 summer jobs with a focus on outdoor environments and activities for children. In partnership with Skövde Municipality, Balder welcomed over 20 young people who organised activities for children and helped keep the residential areas clean and pleasant. In Stockholm, over 200 young people were offered summer jobs in-house or through partnerships, with tasks including gardening, painting and decorating, cleaning and bee-keeping. Since 2023, Balder Denmark has been supporting an initiative to provide part-time jobs for young people from the residential areas in Greve Nord, near Copenhagen. The initiative is being carried out in collaboration with the Greve Nord Project and the Klub Godset youth club, and offers the young people an opportunity to earn their own money, take on responsi - bility and gain valuable work experience. Work activities include café work, looking after animals, activities for children and delivering meals to the elderly. Balder Denmark also supports Hundige Boldklub, where the partnership aims to provide more children and young people with an opportunity to take part in organised leisure activities and become a part of safe, positive communities. Holiday jobs have also been provided in Finland. During the summer, five young people worked at the subsidiary Joo Group, on everything from apartment viewings and customer service to various kinds of invoicing-related tasks. Four of the five summer workers were returning for their second or even third summer, and as always became natural members of their teams. The subsidiary SATO also has lengthy experience of summer workers. In 2026, around 40 young people worked in areas including property service, customer service, sales, marketing and finance. A new feature this year was the Summer Insight campaign, in which summer workers contributed 20 suggested improvements to simplify everyday life for employees and tenants. Many of these ideas are already being implemented. Fastighets AB Balder is evaluated on an ongoing basis by some of the most well-established ESG rating agencies in the world. Their assess - ments provide an independent examination of the Group’s work in the areas of environment, social responsibility and corporate governance, and show how the business is performing in relation to industry colleagues. Balder started reporting to S&P Global in 2025, and in 2026 achieved a CSA score of 48/100 (47/100), which is above the average for comparable companies. In 2025, Balder improved its rating from Sustainalytics to 14.3 (14.9), which is well within the low-risk framework. Balder also received its first official rating from CDP – a score of C for the financial year 2025. ESG RATINGS Young leaders in Bergsjön 2026. For more information, visit: www.spglobal.com/esg/csa/methodology As of /100 ©S&P Global 2026. Real Estate Management & Development Corporate Sustainability Assessment (CSA) Score 2026 Fastighets AB Balder 27 July 2026 Copyrights: see page 31. BALDER GIVES YOUNG ADULTS WORK EXPERIENCE 15 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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BALDER’S PARTICIPATION IN THE BALANCE SHEETS OF PROPERTY MANAGING ASSOCIATED COMPANIES SEKm 2026 30 Sep 2025 30 Sep 2025 31 Dec Assets Properties 45,908 44,235 45,525 Other assets 1,892 2,111 1,668 Cash and cash equivalents 565 833 835 Total assets 48,365 47,179 48,028 Equity and liabilities Equity/interest-bearing shareholder loan 19,445 19,858 19,982 Deferred tax liability 3,754 3,448 3,535 Interest-bearing liabilities 23,953 22,773 23,218 Other liabilities 1,213 1,100 1,294 Total equity and liabilities 48,365 47,179 48,028 Balder is co-owner of a large number of companies that manage properties and develop projects. For further information about Balder’s associated companies, see pages 23–24 and 133–137 in Balder’s Annual and Sustain - ability Report 2025. Associated companies and joint ventures are recog - nised in the Group according to the equity method. For reasons of simplicity, associated companies and joint ventures are referred to only as “associated companies”. Balder invested SEK 437m (840) in associated companies during the period. The holding in associated company Anthon Eiendom AS was also divested with a value of SEK 1,139m. The 2026 Annual General Meeting resolved, in accordance with the Board’s proposal, to distribute the entire holding of shares in the associated company Norion Bank AB (publ), with the record date set for 12 May 2026. The tables below show Balder’s share of property managing associated companies. Companies included in the tables are Sinoma Fastighets AB 50% (50), Trenum AB 50% (50), Tulia AB 50% (50), Tornet Bostadsproduktion AB 49% (49), Fastighetsstaden i Halmstad AB 40% (–), Entra ASA 1) 40% (40) and Stenhus Fastigheter i Norden AB 2) 27% (20). BALDER’S PARTICIPATION IN THE PROPERTY MANAGING ASSOCIATED COMPANIES’ PROPERTY PORTFOLIO AS OF 30/09/2026 3) Number of investment properties 4) Lettable area, sq.m. Rental value, SEKm Rental value, SEK/sq.m. Rental income, SEKm Economic occupancy rate, % Carrying amount, SEKm Carrying amount, % Distributed by region Stockholm 123 182,613 456 2,500 424 93 8,099 18 Gothenburg 90 252,291 382 1,516 366 96 5,223 11 South 77 98,117 177 1,809 169 95 2,997 7 East 60 133,941 190 1,416 179 94 2,728 6 North 28 110,139 298 2,709 273 91 4,654 10 Oslo 62 379,033 1,191 3,142 1,119 94 20,082 44 Total excluding projects 440 1,156,133 2,695 2,331 2,530 94 43,781 95 Projects for own management – – 2,127 5 Total property portfolio 440 1,156,133 2,695 2,331 2,530 94 45,908 100 Distributed by property category Residential 150 273,480 623 2,278 601 97 11,518 25 Office 119 548,928 1,596 2,907 1,477 93 25,990 57 Retail 36 91,608 151 1,651 144 95 1,825 4 Other 135 242,117 325 1,343 307 95 4,448 10 Total excluding projects 440 1,156,133 2,695 2,331 2,530 94 43,781 95 Projects for own management – – 2,127 5 Total property portfolio 440 1,156,133 2,695 2,331 2,530 94 45,908 100 1) B alder’s market value (share price) of Entra ASA as of 30 September 2026 amounted to SEK 7,394m. 2) B alder’s market value (share price) of Stenhus Fastigheter i Norden AB (publ) as of 30 September 2026 amounted to SEK 1,042m. 3) T he above table refers to properties that the associated companies owned at the end of the period. Properties sold have been excluded and properties acquired have been adjusted to full-year values. Other properties include hotel, educational, care, industrial and mixed-use properties. 4) Refers to the entire associated companies’ portfolio. ASSOCIATED COMPANIES Oslo, 48 Stockholm, 18 North, 10 Gothenburg, 11 CARRYING AMOUNT DISTRIBUTED BY REGION, TOTAL PROPERTY PORTFOLIO, % South, 7 East, 6 O/f_f.shortice, 61 Residential, 25 Retail, 4 Other, 10 CARRYING AMOUNT DISTRIBUTED BY PROPERTY CATEGORY, TOTAL PROPERTY PORTFOLIO, % 16 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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OTHER DISCLOSURES Events after the end of the period No events of material significance for Fastighets AB Balder’s position have occurred after the end of the reporting period. Related party transactions Balder receives fees from associated companies and Erik Selin Fastigheter AB for property and company management services. These fees amounted to SEK 81m (78) during the period and are recognised in management and administrative costs. During the period, construction services were purchased from T-Byggen Sverige AB to the order of SEK –m (3). Balder also purchased services from the law firm Norma Law to the order of SEK 0,3m (0,5). Balder has leases with associated companies of Erik Selin Fastigheter AB and receives rental income from these companies. Leases of significant nature are with Hedin Mobility Group of SEK 399m (400). All transactions have been priced on market terms. Risks and uncertainties Balder’s operations, financial position and earnings may be affected by a number of risks and uncertainties. These are described in the Annual and Sustainability Report for 2025, on pages 37–41. Otherwise no significant changes have been noted. Accounting policies Balder applies IFRS (International Financial Reporting Standards) as adopted by the European Union and the interpretations of these (IFRIC) in its consolidated accounts. This interim report is prepared in accordance with IAS 34 Interim Financial Reporting. In addition, relevant provisions of the Swedish Annual Accounts Act and the Swedish Securities Markets Act have also been applied. The parent company has prepared its financial statements in accordance with the Swedish Annual Accounts Act, the Swedish Securities Markets Act and RFR 2, Accounting for Legal Entities. The accounting policies follow those reported in the Annual and Sustain - ability Report 2025. New and changed standards and policies that came into force as of 1 January 2026 or later are not considered to have any material impact on the Group’s financial statements. IFRS 18 IFRS 18 deals with presentation and disclosures in financial statements and is to be applied for financial years that commence on 1 January 2027 or thereafter. The standard has not yet been adopted by the EU. It will replace IAS 1 Presentation of Financial Statements, and introduces new requirements that aim to achieve increased comparability for similar com- panies and provide users with more relevant information and transparency. Among other things, the new requirements mean that all income and expense items are to be classified on the basis of three main categories: operating, investing or financing. IFRS 18 also introduces mandatory subtotals and extended disclosure requirements in respect of certain performance measures, so-called “Management-defined performance measures” (MPM). Management is currently analysing the full consequences of applying IFRS 18 in the Group’s financial reporting. The material effects identified so far are as follows. Operating profit will be a mandatory subtotal in the new standard, which for the Group will include changes in value of investment properties. This is a clear change from the current presentation. Another important change is that profit from participations in joint ventures and associated companies that is reported in accordance with the equity method must be presented under investing activities. This means that this income statement item will not be included in the operating profit. The new form of presentation also means that the current profit from property management will not be presented directly in the income statement, as such a subtotal is not possible in IFRS 18. Profit from property manage - ment will instead be an MPM with associated disclosures in the notes. Nomination committee The instructions for the nomination committee adopted at Fastighets AB Balder’s 2025 Annual General Meeting shall remain in force until further notice and were not amended at the 2026 Annual General Meeting. Under these instructions, the nomination committee shall comprise one represen- tative from each of the four largest shareholders in terms of voting rights, based on the ownership structure as at the last banking day of September, as recorded in the share register maintained by Euroclear Sweden AB. Accordingly, the following nomination committee has been formed for the 2027 Annual General Meeting: • Jesper Mårtensson, representing Erik Selin Fastigheter AB • Rikard Svensson, representing Arvid Svensson Invest AB • Patricia Hedelius, representing AMF Tjänstepension och Fonder • Jan Dworsky, representing Swedbank Robur Fonder AB The composition of the nomination committee remains unchanged from the previous year. Shareholders wishing to make contact with the nomination committee may do so by sending an email to info@balder.se. The Annual General Meeting will be held in Gothenburg on Thursday 13 May 2027. Gothenburg, 23 October 2026 Sharam Rahi Chief Executive Officer 17 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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Auditor’s report Fastighets AB Balder (publ), corp. ID no. 556525-6905. Introduction We have conducted a limited assurance review of the condensed interim financial information (interim report) for Fastighets AB Balder (publ) as of 30 September 2026 and the nine-month period that ended on this date. The Board of Directors and the CEO are responsible for preparing and presenting this financial interim information in accordance with IAS 34 and the Swedish Annual Accounts Act. It is our responsibility to express a conclusion on this interim report on the basis of our limited assurance review. The emphasis and scope of the limited assurance review We have conducted our limited assurance review in accordance with the International Standard on Review Engagements ISRE 2410 Review of Interim Financial information performed by the Independent Auditor of the Entity. A limited assurance review consists of making enquiries, in the first instance to people responsible for financial and accounting matters, to conduct an analytical review and to take other limited assurance review measures. A limited assurance review has a different emphasis and is substantially less exhaustive in scope compared with the emphasis and scope of an audit conducted in accordance with International Standards on Auditing (ISA) and generally accepted auditing standards. The review measures taken in a limited assurance review do not enable us to obtain a sufficient degree of assurance to make us aware of all material circumstances that might have been identified if an audit had been conducted. The conclusion expressed on the basis of a limited assurance review does not therefore have the same degree of assurance as a conclusion expressed on the basis of an audit. Conclusion On the basis of our limited assurance review, no circumstances have been identified that give us reason to believe that the interim report has not, in all material respects, been prepared on the part of the Group in accordance with IAS 34 and the Swedish Annual Accounts Act, and on the part of the parent company in accordance with the Swedish Annual Accounts Act. Gothenburg, 23 October 2026 Öhrlings PricewaterhouseCoopers AB Ulrika Ramsvik I sa Schuman Authorised Public Accountant A uthorised Public Accountant Auditor in charge AUDITOR’S REPORT 18 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME SEKm 2026 Jul–Sep 2025 Jul–Sep 2026 Jan–Sep 2025 Jan–Sep 2025/2026 Oct–Sep 2025 Jan–Dec Rental income 3,642 3,444 10,671 10,269 14,123 13,721 Property costs –806 –766 –2,624 –2,502 –3,529 –3,407 Net operating income 2,836 2,678 8,047 7,767 10,594 10,314 Management and administrative costs –284 –271 –906 –849 –1,217 –1,160 Participation in profits from associated companies and joint ventures –133 472 –220 1,124 435 1,779 – of which profit from property management 291 472 883 1,445 1,371 1,933 – of which changes in value –424 83 –1,043 –14 –733 297 – of which tax –1 –83 –59 –306 –202 –450 Other income/costs 7 7 2 –0 6 4 Net financial items –1,161 –1,104 –3,331 –3,187 –4,380 –4,235 – of which cost of leases/ground rent –24 –23 –73 –69 –97 –93 Profit including changes in value and tax in associated companies 1,266 1,782 3,593 4,856 5,438 6,702 – of which profit from property management 1,690 1,782 4,695 5,176 6,374 6,855 Changes in value Changes in value of investment properties, realised –1 –11 –9 62 –13 58 Changes in value of investment properties, unrealised 269 853 1,262 2,159 1,544 2,440 Income from sale of development properties 14 – 657 45 734 123 Costs from sale of development properties –16 –9 –655 –48 –747 –140 Changes in value of derivatives 755 469 1,213 245 1,367 399 Changes in value, total 1,022 1,301 2,468 2,463 2,885 2,880 Profit before tax 2,288 3,083 6,060 7,319 8,323 9,582 Income tax –516 –569 –1,269 –1,161 –1,699 –1,591 Net profit for the period/year 1,772 2,514 4,791 6,158 6,625 7,991 Net profit for the period/year attributable to: Parent company’s shareholders 1,670 2,390 4,501 5,851 6,271 7,621 Non-controlling interests 102 124 290 306 354 370 1,772 2,514 4,791 6,158 6,625 7,991 Other comprehensive income – items that may be reclassified to net profit/loss for the period Translation difference relating to foreign operations (net after hedge accounting) 688 –350 1,273 –1,116 610 –1,780 Cash flow hedges after tax 88 5 88 –9 101 4 Participation in other comprehensive income from associated companies and joint ventures 724 11 1,576 –521 1,202 –895 Comprehensive income for the period/year 3,272 2,180 7,729 4,512 8,538 5,321 Total comprehensive income for the period/year attributable to: Parent company’s shareholders 2,859 2,159 6,811 4,703 7,806 5,698 Non-controlling interests 413 21 918 –190 731 –377 3,272 2,180 7,729 4,512 8,538 5,321 Profit from property management 1,690 1,782 4,695 5,176 6,374 6,855 Of which non-controlling interest’s part of profit from property management –128 –142 –350 –378 –438 –466 Profit from property management attributable to parent company’s shareholders 1,562 1,640 4,345 4,798 5,936 6,389 Profit from property management per share, SEK 1.34 1.38 3.70 4.03 5.04 5.37 Profit after tax per share, SEK 1.44 2.01 3.84 4.92 5.33 6.41 Profit after tax per share after dilution of convertible, SEK 1) 1.27 1.82 3.16 4.39 4.62 5.86 1) Convertible bonds involve dilution effects in cases where a conversion into common shares would result in reduced earnings per share. 19 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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SEKm 2026 30 Sep 2025 30 Sep 2025 31 Dec Assets Investment properties 242,745 225,927 225,196 Development properties 3,315 3,547 3,384 Lease contract; right-of-use assets 2,336 2,570 2,287 Goodwill 142 – 136 Other fixed assets 284 311 303 Participations in associated companies and joint ventures 24,560 28,410 24,164 Derivatives 1,187 259 459 Receivables 4,182 5,485 5,004 Cash and cash equivalents and financial investments 10,139 11,183 10,509 Assets held for distribution – – 4,850 Total assets 288,890 277,692 276,292 276,292 276,292 276,292 Equity and liabilities Equity1) 107,690 106,201 106,491 Deferred tax liability 19,113 17,846 18,046 Interest-bearing liabilities 155,079 145,206 143,307 Derivatives 100 883 1,044 Lease liability 2,337 2,570 2,295 Other liabilities 4,572 4,985 5,108 Total equity and liabilities 288,890 277,692 276,292 1) Of which non-controlling interests 13,463 13,078 12,639 SEKm 2026 30 Sep 2025 30 Sep 2025 31 Dec Opening equity 106,491 101,735 101,735 Comprehensive income for the period/year 7,729 4,512 5,321 Transactions with non-controlling interests –1 –30 –285 Dividends to non-controlling interests –125 –17 –17 Shareholder contributions from non-controlling interests 7 – 4 Non-controlling interests arising from the acquisition of subsidiaries 24 – – Repurchase of own shares –1,585 – –267 Distribution of shares in Norion Bank AB –4,850 – – Closing equity 107,690 106,201 106,491 CONSOLIDATED STATEMENT OF FINANCIAL POSITION CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 20 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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CONSOLIDATED STATEMENT OF CASH FLOW SEKm 2026 Jul–Sep 2025 Jul–Sep 2026 Jan–Sep 2025 Jan–Sep 2025 Jan–Dec Net operating income 2,836 2,678 8,047 7,767 10,314 Other income/costs 7 7 2 –0 4 Management and administrative costs –284 –271 –906 –849 –1,160 Selling and marketing expenses, development properties –7 –7 –21 –21 –28 Reversal of depreciation and amortisation 24 24 70 71 95 Net financial items paid –1,156 –954 –3,489 –2,996 –4,039 Tax paid/received –84 –186 –307 –453 –597 Cash flow from operating activities before change in working capital 1,336 1,291 3,396 3,519 4,589 Change in operating receivables 230 –96 –171 –432 –436 Change in operating liabilities 119 438 –252 –140 –114 Cash flow from operating activities 1,685 1,632 2,973 2,947 4,039 Acquisition of investment properties –1,403 –2,838 –8,050 –9,032 –9,578 Acquisition/divestment of other fixed assets –28 –14 –51 –37 –53 Purchase of financial investments –213 –2,542 –483 –2,668 –3,090 Acquisition of shares/Capital contributions/Loans to associated companies and joint ventures 58 –539 235 –87 –556 Investments in existing properties and projects –796 –655 –2,536 –1,693 –2,612 Sale of investment properties 358 52 409 2,489 2,490 Sale of development properties 14 – 657 45 123 Sale of financial investments – – 326 1,450 1,580 Sale of shares in associated companies and joint ventures 1,248 20 1,248 396 507 Dividend paid from associated companies and joint ventures 2 6 348 1,127 1,331 Cash flow from investing activities –761 –6,510 –7,897 –8,010 –9,857 Payment for purchase of own shares –690 – –1,585 – –267 Amortisation of lease liability –7 – –27 – –27 Dividend paid to non-controlling interests – –7 –125 –28 –17 Transactions with non-controlling interests –1 – –1 –17 –285 Shareholder contributions from non-controlling interests – –22 7 –30 4 Loans raised 1,183 11,612 19,498 28,696 31,426 Amortisation/redemption of loans sold properties/changes in overdraft facilities –1,804 –2,379 –13,591 –20,167 –22,610 Cash flow from financing activities –1,318 9,204 4,176 8,454 8,223 Cash flow for the period/year –394 4,326 –749 3,391 2,405 Cash and cash equivalents at the start of the period/year 5,394 2,409 5,715 3,381 3,381 Exchange rate difference in cash and cash equivalents 30 –10 64 –47 –71 Cash and cash equivalents at the end of the period/year 5,030 6,724 5,030 6,724 5,715 Available liquidity, SEKm Cash and cash equivalents 5,030 6,724 5,030 6,724 5,715 Unutilised overdraft facilities 786 558 786 558 555 Unutilised credit facilities 14,010 12,383 14,010 12,383 12,660 Financial investments 5,109 4,458 5,109 4,458 4,795 Available liquidity including confirmed loan commitments 24,935 24,124 24,935 24,124 23,724 21 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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SEKm 2026 30 Sep 2025 30 Sep 2025 31 Dec Property portfolio Helsinki 58,235 55,095 54,279 Stockholm 34,030 33,129 33,209 Gothenburg 45,181 43,898 44,012 Copenhagen 28,351 25,720 25,193 South 20,253 17,590 17,598 East 31,449 28,056 28,041 North 21,872 19,672 19,898 Total excluding projects 239,370 223,160 222,230 Projects for own management 3,375 2,767 2,966 Total investment properties 242,745 225,927 225,196 Development properties 3,315 3,547 3,384 Total property portfolio 246,060 229,474 228,580 SEGMENT INFORMATION The carrying amounts of the properties changed during the period due to investments, acquisitions, divestments, unrealised changes in value and currency, by SEK 3,956m in the Helsinki region, SEK 821m in the Stockholm region, SEK 1,169m in the Gothenburg region, SEK 3,158m in the Copenhagen region, SEK 2,655m in the South region, SEK 3,409m in the East region and SEK 1,973m in the North region. The Group’s internal reporting of operations is divided into the above segments. Total net operating income corresponds with recognised net operating income in the income statement. The difference between net operating income of SEK 8,047m (7,767) and profit before tax of SEK 6,060m (7,319) consists of changes in value of investment properties of The Group’s projects for own management increased by SEK 409m and the Group’s development properties decreased by SEK 69m. The properties in Denmark are classified under the Copenhagen region. The properties in Finland are divided between the regions of Helsinki and East. Property ownership in Norway is classified under the North region, and the properties in Germany and the UK under the South region. SEK 1,253m (2,221), profit from sales of development properties of SEK 1m (–3), other income/costs of SEK 2m (–0), management and administrative costs of SEK –906m (–849), participations in profit from associated companies/joint ventures of SEK –220m (1,124), net financial items of SEK –3,331m (–3,187) and changes in value of derivatives of SEK 1,213m (245). SEKm 2026 Jul–Sep 2025 Jul–Sep 2026 Jan–Sep 2025 Jan–Sep 2025/2026 Oct–Sep 2025 Jan–Dec Rental income Helsinki 791 778 2,291 2,273 3,054 3,037 Stockholm 482 476 1,468 1,470 1,953 1,955 Gothenburg 678 640 2,008 1,911 2,657 2,560 Copenhagen 322 305 932 912 1,240 1,220 South 313 286 922 872 1,206 1,157 East 685 619 1,961 1,809 2,575 2,423 North 371 340 1,089 1,021 1,438 1,370 Total 3,642 3,444 10,671 10,269 14,123 13,721 Net operating income Helsinki 557 564 1,581 1,585 2,110 2,113 Stockholm 382 373 1,133 1,118 1,502 1,487 Gothenburg 544 519 1,552 1,494 2,054 1,996 Copenhagen 247 230 710 689 946 924 South 245 228 702 687 918 903 East 548 482 1,499 1,392 1,924 1,817 North 312 283 870 803 1,141 1,074 Total 2,836 2,678 8,047 7,767 10,594 10,314 22 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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2026 Jul–Sep 2025 Jul–Sep 2026 Jan–Sep 2025 Jan–Sep 2025/2026 Oct–Sep 2025 Jan–Dec Share-related key ratios Average number of shares, thousands 1,162,232 1,190,000 1,173,598 1,190,000 1,177,461 1,189,740 Profit after tax per share, SEK 1.44 2.01 3.84 4.92 5.33 6.41 Profit after tax per share after dilution of convertible, SEK 1) 1.27 1.82 3.16 4.39 4.62 5.86 Profit after tax excluding unrealised changes in value per share , SEK 1.01 1.08 2.85 3.33 3.83 4.31 Profit from property management per share, SEK 1.34 1.38 3.70 4.03 5.04 5.37 Net operating income per share, SEK 2.18 1.98 6.11 5.77 8.03 7.69 Outstanding number of shares, thousands 2) 1,157,000 1,190,000 1,157,000 1,190,000 1,157,000 1,186,000 Equity per share, SEK 81.44 78.25 81.44 78.25 81.44 79.13 Long-term net asset value per share (NAV), SEK 97.03 93.03 97.03 93.03 97.03 93.96 Share price on closing date per share, SEK 47.01 67.34 47.01 67.34 47.01 68.20 Property-related key ratios Rental value full year, SEK/sq.m. 2,254 2,177 2,254 2,177 2,254 2,168 Rental income full year, SEK/sq.m. 2,135 2,077 2,135 2,077 2,135 2,056 Economic occupancy rate, % 95 95 95 95 95 95 Vacancy rate, % 5 5 5 5 5 5 Surplus ratio, % 78 78 75 76 75 75 Carrying amount, SEK/sq.m. 34,821 33,631 34,821 33,631 34,821 33,153 Number of investment properties 2,057 2,017 2,057 2,017 2,057 2,023 Lettable area, thousand sq.m. 6,874 6,636 6,874 6,636 6,874 6,703 Profit from property management attributable to parent company’s shareholders, SEKm 1,562 1,640 4,345 4,798 5,936 6,389 Financial key ratios Return on equity, % 5.6 6.8 6.0 7.9 6.7 8.4 Return on total assets, % 4.2 4.6 4.3 4.8 4.5 5.1 Interest coverage ratio, times 2.4 2.7 2.4 2.7 2.4 2.7 Equity/assets ratio, % 37.3 38.2 37.3 38.2 37.3 38.5 Debt/equity ratio, times 1.4 1.4 1.4 1.4 1.4 1.3 Net debt to total assets, % 50.2 48.3 50.2 48.3 50.2 48.1 Net debt/EBITDA, times 12.6 11.5 13.0 12.0 13.0 12.0 1) Convertible bonds involve dilution effects in cases where a conversion into common shares would result in reduced earnings per share. 2) As of 30 September 2026, the total number of shares issued amounted to 1,190,000,000, of which Fastighets AB Balder’s holding of its own shares amounted to 33,000,000 and the number of shares outstanding amounted to 1,157,000,000. As of 30 September 2025, Fastighets AB Balder owned none of its own shares and the total number of shares issued (and outstanding) amounted to 1,190,000,000. KEY RATIOS 23 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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SEKm 2026 30 Sep 2025 30 Sep 2025 31 Dec Assets Other fixed assets 31 26 31 Financial non-current assets 27,156 28,631 28,128 Receivables from Group companies 101,765 101,717 100,197 Derivatives 689 153 319 Current receivables 352 395 358 Cash and cash equivalents and financial investments 7,915 8,487 8,533 Total assets 137,908 139,409 137,566 Equity and liabilities Equity 33,034 36,283 34,920 Interest-bearing liabilities 68,136 68,314 67,691 Liabilities to Group companies 35,841 33,469 33,216 Derivatives 100 814 830 Other liabilities 798 530 910 Total equity and liabilities 137,908 139,409 137,566 CONDENSED PARENT COMPANY INCOME STATEMENT CONDENSED PARENT COMPANY BALANCE SHEET SEKm 2026 Jul–Sep 2025 Jul–Sep 2026 Jan–Sep 2025 Jan–Sep 2025/2026 Oct–Sep 2025 Jan–Dec Net sales 140 131 468 418 637 587 Administrative costs –140 –131 –468 –418 –637 –587 Operating profit 0 0 0 0 0 0 Profit from financial items Profit from participations in subsidiaries – – 3 1,785 100 1,882 Other net financial items –628 591 –171 2,891 429 3,491 – of which exchange rate differences –832 263 –1,255 729 –713 1,272 Changes in value of derivatives 659 448 1,085 229 1,218 362 Profit before appropriations and tax 31 1,039 917 4,905 1,746 5,734 Appropriations Group contribution – – – – –1,837 –1,837 Principal earnings 1) – – – – –54 –54 Profit before tax 31 1,039 917 4,905 –145 3,843 Income tax –51 –63 –21 46 –56 12 Net profit for the period/year 2) –20 976 896 4,951 –201 3,855 1) The parent company is a member of a fiscal commission with a selection of its subsidiaries. All companies in the fiscal commission are also members of a Value Added Tax group. 2) The parent company has no items that are recognised in Other comprehensive income, and total comprehensive income therefore corresponds to net profit for the period/year. 24 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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0 0 24 12 8 4 20 28 32 2019 2020 2021 2022 2023 2024 2025 2026 SHARE PRICE/slash.ucNET ASSET VALUE & SHARE PRICE/slash.ucPROFIT FROM PROPERTY MANAGEMENT 16 60 20 40 80 100 120 140 160 20182017 Share price/Net asset value (NAV), % Share price/Pro/f.shortit from property management, times Share price/Net asset value (NAV) Share price/Pro/f.shortit from property management 0 105 75 30 15 90 120 0 2 1 6 3 20182017 2019 2020 2021 2022 2023 2024 2025 2026 4 7 8 45 60 5 Share price, Net asset value (NAV), SEK/share Pro/f.shortit from property management, SEK/share DEVELOPMENT SHARE PRICE, NET ASSET VALUE AND PROFIT FROM PROPERTY MANAGEMENT Share price Net asset value (NAV) Pro/f.shortit from property management THE SHARE AND OWNERS OWNERSHIP LIST AS OF 30/09/2026 Owners Class A shares Class B shares Total number of shares Capital, % Votes, % Erik Selin via company 49,855,968 343,385,400 393,241,368 33.0 46.9 Arvid Svensson Invest AB 17,495,352 73,799,819 91,295,171 7.7 13.8 AMF Fonder & Pension – 73,719,722 73,719,722 6.2 4.1 Swedbank Robur Fonder – 56,903,149 56,903,149 4.8 3.2 Länsförsäkringar Fondförvaltning – 41,441,084 41,441,084 3.5 2.3 Handelsbanken Fonder – 23,843,230 23,843,230 2.0 1.3 Alecta Tjänstepension Ömsesidigt – 19,800,000 19,800,000 1.7 1.1 Folksam – 19,660,524 19,660,524 1.7 1.1 Andra AP-fonden – 18,957,140 18,957,140 1.6 1.1 SEB Funds – 15,362,613 15,362,613 1.3 0.9 Other 25,272 402,750,727 402,775,999 33.8 22.4 Total outstanding shares 67,376,592 1,089,623,408 1,157,000,000 97.2 98.2 Repurchased own shares – 33,000,000 33,000,000 2.8 1.8 Total registered shares 67,376,592 1,122,623,408 1,190,000,000 100 100 Balder’s share is listed on Nasdaq Stockholm, Large Cap segment. The company’s market capitalisation as of 30 September amounted to SEK 54,391m (80,135). The principal owner in Fastighets AB Balder is Erik Selin Fastigheter AB, which owns 33.0% (33.0) of the capital and 46.9% (46.9) of the votes. Foreign ownership amounts to approximately 22% (28) of outstanding shares. The share and repurchase of the company’s own shares At the end of the period, Balder had approximately 29,500 shareholders (29,300). During the period, approximately 411 million shares were traded (322), which corresponds to an average of about 2,188,000 shares per trading day (1,722,000). The annual turnover rate during the period amounted to 47% (36). The price of the share was SEK 47.01 (67.34) on 30 September, corresponding to a decrease of 31% since the year-end. In 2026, the Board of Directors requested and received a mandate from the general meeting to repurchase the company’s own shares. The purpose of the repurchases is to contribute to increased shareholder value. Repurchasing of the company’s own shares took place at Nasdaq Stockholm, and during the period Balder repurchased 29,000,000 shares at an average price of SEK 54.63 per share, which means that Balder’s total holding of its own shares amounts to 33,000,000 shares, representing 2.8% of the number of registered shares at the end of the period. Share capital As of 30 September, the share capital in Balder amounted to SEK 198,333,333 distributed among 1,190,000,000 shares. Each share has a quota value of SEK 0.16667, of which 67,376,592 shares are Class A and 1,122,623,408 shares are Class B. 33,000,000 of the Class B shares were repurchased as of 30 September 2026, which means that the total number of outstanding shares is 1,157,000,000. Each Class A share carries one vote and each Class B share carries one tenth of one vote. 25 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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RECONCILIATION OF KEY RATIOS SHARE-RELATED KEY RATIOS 2026 Jul–Sep 2025 Jul–Sep 2026 Jan–Sep 2025 Jan–Sep 2025/2026 Oct–Sep 2025 Jan–Dec Profit after tax per share, SEK A P rofit after tax for the period attributable to the parent company’s share - holders during the period according to the income statement, SEKm 1,670 2,390 4,501 5,851 6,271 7,621 B A verage number of outstanding shares during the period, million 1,162 1,190 1,174 1,190 1,177 1,190 A/B Profit after tax per share, SEK 1.44 2.01 3.84 4.92 5.33 6.41 Profit after tax per share after dilution of convertible, SEK A P rofit after tax for the period attributable to the parent company’s share - holders during the period according to the income statement, SEKm 1,670 2,390 4,501 5,851 6,271 7,621 B Effect on profit of convertible, SEKm 94 91 560 298 475 213 C Average number of outstanding shares during the period after dilution of convertible, million 1,237 1,265 1,248 1,265 1,255 1,264 (A-B)/C Profit after tax per share after dilution of convertible, SEK 1.271) 1.821) 3.161) 4.391) 4.621) 5.861) Profit after tax excluding unrealised changes in value per share, SEK A P rofit after tax for the period attributable to the parent company’s share - holders during the period according to the income statement, SEKm 1,670 2,390 4,501 5,851 6,271 7,621 B C hanges in value of investment properties, unrealised during the period according to the income statement, SEKm 269 853 1,262 2,159 1,544 2,440 C C hanges in value of derivatives during the period according to the income statement, SEKm 755 469 1,213 245 1,367 399 D N on-controlling interests’ share of unrealised changes in value during the period, SEKm –29 15 –22 13 –34 1 E C hanges in value in participations in profit from associated companies and joint ventures during the period according to the income statement, SEKm –424 83 –1,043 –14 –733 297 F T ax effect of unrealised changes in value, SEKm –130 –286 –300 –490 –456 –646 G A verage number of outstanding shares during the period, million 1,162 1,190 1,174 1,190 1,177 1,190 (A-B-C+D-E-F)/G Profit after tax excluding unrealised changes in value per share, SEK 1.01 1.08 2.85 3.33 3.83 4.31 Profit from property management per share, SEK A P rofit from property management attributable to the parent company’s shareholders during the period according to the income statement, SEKm 1,562 1,640 4,345 4,798 5,936 6,389 B A verage number of outstanding shares during the period, million 1,162 1,190 1,174 1,190 1,177 1,190 A/B Profit from property management per share, SEK 1.34 1.38 3.70 4.03 5.04 5.37 Net operating income per share, SEK A N et operating income attributable to the parent company’s shareholders during the period, SEKm 2,528 2,357 7,169 6,861 9,458 9,150 B A verage number of outstanding shares during the period, million 1,162 1,190 1,174 1,190 1,177 1,190 A/B Net operating income per share, SEK 2.18 1.98 6.11 5.77 8.03 7.69 Equity per share, SEK A E quity attributable to the parent company’s shareholders at the end of the period according to the balance sheet, SEKm 94,227 93,123 94,227 93,123 94,227 93,852 B N umber of outstanding shares at the end of the period, million 1,157 1,190 1,157 1,190 1,157 1,186 A/B Equity per share, SEK 81.44 78.25 81.44 78.25 81.44 79.13 Long-term net asset value per share (NAV), SEK A E quity attributable to the parent company’s shareholders at the end of the period according to the balance sheet, SEKm 94,227 93,123 94,227 93,123 94,227 93,852 B Deferred tax according to the balance sheet, SEKm 19,113 17,846 19,113 17,846 19,113 18,046 C Interest rate derivatives, SEKm –1,074 –259 –1,074 –259 –1,074 –459 D N umber of outstanding shares at the end of the period, million 1,157 1,190 1,157 1,190 1,157 1,186 (A+B+C)/D Long-term net asset value per share (NAV), SEK 97.03 93.03 97.03 93.03 97.03 93.96 1) In cases where the performance measure indicates a better outcome compared with no dilution of convertible, the performance measure applied is Profit after tax per share, SEK. NUMBER OF SHARES 2026 Jul–Sep 2025 Jul–Sep 2026 Jan–Sep 2025 Jan–Sep 2025/2026 Oct–Sep 2025 Jan–Dec Average number of shares 1,162,232,135 1,190,000,000 1,173,598,467 1,190,000,000 1,177,461,456 1,189,739,863 Average number of shares after dilution of convertible1,236,891,501 1,264,659,366 1,248,257,833 1,264,659,366 1,254,644,993 1,264,399,229 Outstanding number of shares 2) 1,157,000,000 1,190,000,000 1,157,000,000 1,190,000,000 1,157,000,000 1,186,000,000 Outstanding number of shares after dilution of convertible 1,231,659,366 1,264,659,366 1,231,659,366 1,264,659,366 1,231,659,366 1,260,659,366 2) As of 30 September 2026, the total number of shares issued amounted to 1,190,000,000, of which Fastighets AB Balder’s holding of its own shares amounted to 33,000,000 and the number of shares outstanding amounted to 1,157,000,000. As of 30 September 2025, Fastighets AB Balder owned none of its own shares and the total number of shares issued (and outstanding) amounted to 1,190,000,000. 26 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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PROPERTY-RELATED KEY RATIOS 2026 Jul–Sep 2025 Jul–Sep 2026 Jan–Sep 2025 Jan–Sep 2025/2026 Oct–Sep 2025 Jan–Dec Rental value full year, SEK/sq.m. A R ental value on annual basis at the end of the period, SEKm 15,492 14,443 15,492 14,443 15,492 14,531 B Lettable area, thousand sq.m. 6,874 6,636 6,874 6,636 6,874 6,703 A/B x 1,000 Rental value, full year, SEK/sq.m. 2,254 2,177 2,254 2,177 2,254 2,168 Rental income full year, SEK/sq.m. A R ental income on annual basis at the end of the period, SEKm 14,679 13,780 14,679 13,780 14,679 13,780 B Lettable area, thousand sq.m. 6,874 6,636 6,874 6,636 6,874 6,703 A/B x 1,000 Rental income, full year, SEK/sq.m. 2,135 2,077 2,135 2,077 2,135 2,056 Economic occupancy rate, % A R ental income on annual basis at the end of the period, SEKm 14,679 13,780 14,679 13,780 14,679 13,780 B R ental value on annual basis at the end of the period, SEKm 15,492 14,443 15,492 14,443 15,492 14,531 A/B Economic occupancy rate, % 95% 95% 95% 95% 95% 95% Surplus ratio, % A N et operating income during the period according to the income statement, SEKm 2,836 2,678 8,047 7,767 10,594 10,314 B R ental income during the period according to the income statement, SEKm 3,642 3,444 10,671 10,269 14,123 13,721 A/B Surplus ratio, % 78% 78% 75% 76% 75% 75% Carrying amount, SEK/sq.m. A C arrying amount of investment properties excluding projects, SEKm 239,370 223,160 239,370 223,160 239,370 222,230 B Lettable area, thousand sq.m. 6,874 6,636 6,874 6,636 6,874 6,703 A/B x 1,000 Carrying amount, SEK/sq.m. 34,821 33,631 34,821 33,631 34,821 33,153 RECONCILIATION OF KEY RATIOS 27 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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FINANCIAL KEY RATIOS 2026 Jul–Sep 2025 Jul–Sep 2026 Jan–Sep 2025 Jan–Sep 2025/2026 Oct–Sep 2025 Jan–Dec Return on equity, % A P rofit after tax for the period attributable to the parent company’s share - holders during the period according to the income statement, SEKm 1,670 2,390 4,501 5,851 6,271 7,621 B C hanges in value of investment properties, realised and unrealised during the period according to the income statement, SEKm 268 842 1,253 2,221 1,531 2,498 C P rofit from development properties during the period according to the income statement, SEKm –1 –9 1 –3 –13 –17 D C hanges in value of derivatives during the period according to the income statement, SEKm 755 469 1,213 245 1,367 399 E C hanges in value in participations in profit from associated companies and joint ventures during the period according to the income statement, SEKm –424 83 –1,043 –14 –733 297 F N on-controlling interests’ share of changes in values, SEKm –27 11 –26 –1 –39 –13 G T ax effect of changes in values 20.6%, SEKm –129 –283 –299 –505 –451 –657 A-B-C-D-E+F-G T otal adjusted profit for the period, SEKm 1,174 1,300 3,350 3,906 4,532 5,088 H T otal adjusted profit recalculated for annual profit, SEKm 4,694 5,202 4,467 5,209 4,532 5,088 I C hanges in value for the parent company’s shareholders, SEKm (B+C+D+E-F) 625 1,372 1,450 2,450 2,191 3,190 J T ax effect of changes in value, SEKm (G) –129 –283 –299 –505 –451 –657 K C alculated annual profit, SEKm (H+I+J) 5,190 6,291 5,618 7,154 6,271 7,621 L E quity attributable to the parent company’s shareholders at the end of the period according to the balance sheet, SEKm 94,227 93,123 94,227 93,123 94,227 93,852 M E quity attributable to the parent company’s shareholders at the beginning of the period according to the balance sheet, SEKm 92,058 90,964 93,852 88,420 93,123 88,420 N A verage equity, SEKm (L+M)/2 93,143 92,044 94,040 90,772 93,675 91,136 K/N Return on equity, % 5.6% 6.8% 6.0% 7.9% 6.7% 8.4% Return on total assets, % A P rofit before tax for the period according to the income statement, SEKm 2,288 3,083 6,060 7,319 8,323 9,582 B N et financial items during the period according to the income statement, SEKm –1,161 –1,104 –3,331 –3,187 –4,380 –4,235 C C hanges in value of investment properties, realised and unrealised during the period according to the income statement, SEKm 268 842 1,253 2,221 1,531 2,498 D P rofit from development properties during the period according to the income statement, SEKm –1 –9 1 –3 –13 –17 E C hanges in value of derivatives during the period according to the income statement, SEKm 755 469 1,213 245 1,367 399 F C hanges in value in participations in profit from associated companies and joint ventures during the period according to the income statement, SEKm –424 83 –1,043 –14 –733 297 A-B-C-D-E-F T otal adjusted profit for the period, SEKm 2,850 2,803 7,967 8,056 10,551 10,640 G T otal adjusted profit recalculated for annual profit, SEKm 11,401 11,214 10,623 10,742 10,551 10,640 H C hanges in value, SEKm (C+D+E+F) 598 1,384 1,424 2,449 2,152 3,177 I C alculated annual profit, SEKm (G+H) 11,999 12,597 12,047 13,191 12,703 13,817 J T otal assets at the end of the period, SEKm 288,890 277,692 288,890 277,692 288,890 276,292 K T otal assets at the beginning of the period, SEKm 283,956 266,333 276,292 267,926 277,692 267,926 L A verage total assets, SEKm (J+K)/2 286,423 272,012 282,591 272,809 283,291 272,109 I/L Return on total assets, % 4.2% 4.6% 4.3% 4.8% 4.5% 5.1% Interest coverage ratio, times A P rofit including changes in value and tax in associated companies during the period according to the income statement, SEKm 1,266 1,782 3,593 4,856 5,438 6,702 B N et financial items during the period according to the income statement, SEKm –1,161 –1,104 –3,331 –3,187 –4,380 –4,235 C L eases/ground rent during the period according to the income statement, SEKm –24 –23 –73 –69 –97 –93 D C hanges in value of financial investments during the period, SEKm 53 –28 158 –128 202 –84 E C hanges in value and tax in participations in profit from associated companies and joint ventures during the period according to the income statement, SEKm –424 0 –1,102 –320 –935 –153 (A-(B-C)+D-E)/-(B-C-D) Interest coverage ratio, times 2.4 2.7 2.4 2.7 2.4 2.7 RECONCILIATION OF KEY RATIOS 28 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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CONTD. FINANCIAL KEY RATIOS 2026 Jul–Sep 2025 Jul–Sep 2026 Jan–Sep 2025 Jan–Sep 2025/2026 Oct–Sep 2025 Jan–Dec Equity/assets ratio, % A E quity including non-controlling interests at the end of the period according to the balance sheet, SEKm 107,690 106,201 107,690 106,201 107,690 106,491 B T otal equity and liabilities at the end of the period according to the balance sheet, SEKm 288,890 277,692 288,890 277,692 288,890 276,292 A/B Equity/assets ratio, % 37.3% 38.2% 37.3% 38.2% 37.3% 38.5% Debt/equity ratio, times A I nterest-bearing liabilities at the end of the period according to the balance sheet, SEKm 155,079 145,206 155,079 145,206 155,079 143,307 B E quity including non-controlling interests at the end of the period according to the balance sheet, SEKm 107,690 106,201 107,690 106,201 107,690 106,491 A/B Debt/equity ratio, times 1.4 1.4 1.4 1.4 1.4 1.3 Net debt, SEKm A I nterest-bearing liabilities at the end of the period according to the balance sheet, SEKm 155,079 145,206 155,079 145,206 155,079 143,307 B C ash and cash equivalents and financial investments at the end of the period according to the balance sheet, SEKm 10,139 11,183 10,139 11,183 10,139 10,509 A-B Net debt, SEKm 144,940 134,024 144,940 134,024 144,940 132,798 EBITDA, SEKm A P rofit from property management during the period according to the income statement, SEKm 1,690 1,782 4,695 5,176 6,374 6,855 B P rofit from sale of development properties during the period according to the income statement, SEKm –1 –9 1 –3 –13 –17 C N et financial items during the period according to the income statement, SEKm –1,161 –1,104 –3,331 –3,187 –4,380 –4,235 A+B-C EBITDA, SEKm 2,850 2,877 8,027 8,360 10,741 11,073 EBITDA, SEKm converted on a full-year basis 11,402 11,535 10,703 11,147 10,741 11,073 Net debt to total assets, % A Net debt, SEKm 144,940 134,024 144,940 134,024 144,940 132,798 B T otal equity and liabilities at the end of the period according to the balance sheet, SEKm 288,890 277,692 288,890 277,692 288,890 276,292 A/B Net debt to total assets, % 50.2% 48.3% 50.2% 48.3% 50.2% 48.1% Net debt/EBITDA, times A Average Net debt, SEKm 143,958 133,161 138,869 133,216 139,482 132,603 B EBITDA, SEKm converted on a full-year basis 11,402 11,535 10,703 11,147 10,741 11,073 A/B Net debt/EBITDA, times 12.6 11.5 13.0 12.0 13.0 12.0 RECONCILIATION OF KEY RATIOS 29 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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SHARE-RELATED Equity per share, SEK Shareholders’ equity attributable to parent company’s shareholders in relation to the number of outstanding shares at the end of the period. Profit from property management per share, SEK Profit from property management attributable to parent company’s shareholders in relation to the average number of shares. Average number of shares The number of outstanding shares at the start of the period, adjusted by the number of shares issued during the period weighted by the number of days that the shares have been outstanding in relation to the total number of days during the period. Long-term net asset value per share (NAV), SEK Equity attributable to parent company’s shareholders in relation to the number of outstanding shares at the end of the period with reversal of interest rate derivatives and deferred tax according to balance sheet. Profit after tax per share, SEK Profit attributable to the parent company’s shareholders in relation to the average number of outstanding shares. PROPERTY-RELATED Yield, % Estimated net operating income on an annual basis in relation to the fair value of the properties at the end of the period. Net operating income, SEKm Rental income minus property costs. Economic occupancy rate, % 1) Contracted rent for leases which are running at the end of the period in relation to rental value. Development properties Refers to properties constructed with the intention of being sold after completion. Property portfolio Refers to both investment properties and development properties. Property category Categorised according to the principal use of the property. There is a breakdown into office, retail, residential, industrial/logistics and other properties. Other properties include hotel, educational, care and mixed- use properties. The property category is determined by what the property is mostly used for. Property costs, SEKm This item includes direct property costs, such as operating expenses, media expenses, maintenance and property tax. Investment properties Refers to properties that are held with the objective of generating rental income or an increase in value or a combination of these. Rental value, SEKm 1) Contracted rent and estimated market rent for vacant premises. Surplus ratio, % Net operating income in relation to rental income. 1) This key ratio is operational and is not considered to be an alternative performance measure according to ESMA’s guidelines. DEFINITIONS FINANCIAL Return on equity, % Profit after tax in relation to average equity. The profit was converted to a full-year basis in the interim accounts without taking account of seasonal variations that normally arise in the operations, with the exception of changes in value. Return on total assets, % Profit before tax with addition of net financial items in relation to average total assets. The profit was converted to a full-year basis in the interim accounts without taking account of seasonal variations that normally arise in the oper - ations, with the exception of changes in value. Net debt to total assets, % Net debt in relation to total assets. EBITDA Profit from property management plus the net profit from the sale of development properties with reversal of net financial items. EBITDA has been converted to a full-year basis in interim accounts, with the exception of the net profit from the sale of development properties. Profit from property management, SEKm Profit including changes in value and tax in associated companies, with reversal of changes in value and tax in participations in profit from associated companies. When calculating the profit from property management attributable to parent company’s shareholders, the profit from property management is also reduced by the participation of non-controlling interests. Net debt, SEKm Interest-bearing liabilities minus cash and cash equivalents and financial investments. Net debt/EBITDA, times Average Net debt in relation to EBITDA. Interest coverage ratio, times Profit including changes in value and tax in associated companies with reversal of net financial items excluding ground rents and changes in value of financial investments and changes in value and tax as regards participation in profits of associated companies, in relation to net financial items excluding ground rents and changes in value of financial investments. Debt/equity ratio, times Interest-bearing liabilities in relation to shareholders’ equity, including non-controlling interests. Equity/assets ratio, % Equity including non-controlling interests in relation to total assets at the end of the period. OTHER Associated companies and joint ventures For reasons of simplicity, disclosures in running text about transactions linked to associated companies and joint ventures are referred to only as “associated companies”. The report refers to holdings that constitute both associated companies and joint ventures. For a complete list, see Note 14 in Balder’s Annual and Sustainability Report 2025. The company presents a number of financial metrics in the interim report that are not defined according to IFRS (so-called Alternative Performance Measures according to ESMA’s guidelines). These performance measures provide valuable supplementary information to investors, the company's management and other stakeholders since they facilitate effective evaluation and analysis of the company's financial position and performance. These alternative performance measures are not always comparable with measu - res used by other companies and shall therefore be considered as a complement to measures defined according to IFRS. Fastighets AB Balder will apply these alternative performance measures consistently over time. Unless otherwise specified, the key ratios are alternative performance measures according to ESMA’s guidelines. A description follows below of how Fastighets AB Balder’s key ratios are defined and calculated. 30 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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CONTACT For additional information, please contact: CEO Sharam Rahi, via Executive Assistant, tel. +46 31-351 84 49 CFO Ewa Wassberg, tel. +46 31-351 83 99 IR Jonas Erikson, tel. +46 76-765 50 88 FINANCIAL INFORMATION Overall information about the company’s operations, Board of Directors and management, financial reporting and press releases may be found on Balder’s website, balder.se. CALENDAR Year-end report 2026 1 2 February 2027 Annual General Meeting 1 3 May 2027 Interim report, Jan–Mar 2027 1 3 May 2027 Interim report, Jan–Jun 2027 14 J uly 2027 Interim report, Jan–Sep 2027 2 9 October 2027 Year-end report 2027 1 1 February 2028 COPYRIGHT ©2024 SUSTAINALYTICS, A MORNINGSTAR COMPANY. ALL RIGHTS RESERVED. THIS PUBLICATION INCLUDES INFORMATION AND DATA PROVIDED BY SUSTAINALYTICS AND/OR ITS CONTENT PROVIDERS. INFORMATION PROVIDED BY SUSTAINALYTICS IS NOT DIRECTED TO OR INTENDED FOR USE OR DISTRIBUTION TO INDIA-BASED CLIENTS OR USERS AND ITS DISTRIBUTION TO INDIAN RESIDENT INDIVIDUALS OR ENTITIES IS NOT PERMITTED. MORNINGSTAR/SUSTAINALYTICS ACCEPTS NO RESPONSIBILITY OR LIABILITY WHATSOEVER FOR THE ACTIONS OF THIRD PARTIES IN THIS RESPECT. USE OF SUCH DATA IS SUBJECT TO CONDITIONS AVAILABLE AT HTTPS://WWW.SUSTAINALYTICS.COM/LEGAL-DISCLAIMERS/ Copyrights for page 15. TORIHOTELLI ULEÅBORG COMMERCIAL This report is a translation of the Swedish Interim Report January-September 2026. In the event of any disparities between this report and the Swedish version, the latter will have priority. HEAD OFFICE Parkgatan 49 · Box 53 121 · 400 15 Gothenburg Tel: +46 31-10 95 70 LETTING Tel: +46 20-151 151 CUSTOMER SERVICE Tel: +46 774-49 49 49 REGION GOTHENBURG Parkgatan 49 · Box 53 121 · 400 15 Gothenburg Timmervägen 7B · 541 64 Skövde F öreningsgatan 10 · 461 30 Trollhättan HELSINKI M ikonkatu 8A · 00100 Helsinki · Tel: +358 45 120 15 15 COPENHAGEN Vesterbrogade 1 E, 5. sal · 1620 København V · Tel: +45 55 55 07 07 NORTH Skolgången 3 · 802 57 Gävle Packhusallén 2D · 652 11 Karlstad Esplanaden 22 · 852 36 Sundsvall STOCKHOLM Tulegatan 2A · 113 58 Stockholm Vårby Allé 18 · 143 40 Vårby H allonbergsplan 5–7, vån 2 · 174 52 Sundbyberg SOUTH Kalendegatan 26 · 211 35 Malmö Esplanaden 7 · 265 35 Åstorp Bryggaregatan 7 · 252 27 Helsingborg EAST Hospitalsgatan 11 · 602 27 Norrköping S tenbygatan 6 · 721 36 Västerås FASTIGHETS AB BALDER (PUBL) BALDER.SE · INFO@BALDER.SE · CORP . ID NO: 556525-6905 31 FASTIGHETS AB BALDER INTERIM REPORT JANUARY–SEPTEMBER 2026

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