Interim report
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COREM – Interim Report January–September 2026 1 , Interim Report January–September 2026
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Corem Property Group (publ) Stockholm Göteborg New York Linköping Västerås Uppsala Malmö Lund Norrköping Köpenhamn Örebro Kalmar Borås Nyköping Stockholm Gothenburg New York Linköping Västerås Uppsala Malmö Norrköping Copenhagen Nyköping 1) South Stockholm (Globen area, Sätra, Västberga) 20%, North Stockholm (Kista, Arlandastad) 15%, Central Stockholm (Solna, Vinsta, Täby) 8%. 2) Including Borås 3) Including Kalmar 4) Including Lund Stockholm Göteborg New York Linköping Västerås Uppsala Malmö Norrköping Köpenhamn Nyköping 239 Properties, number 44,813 Property, fair value, SEKm 2,042 Lettable area, tsq.m. 3,946 Rental value, SEKm PROPERTY VALUE PER CITY, SEKm Stockholm 1) Linköping 3) Gothenburg 2) Västerås Malmö 4) Uppsala Norrköping New York Nyköping Copenhagen 0 5,000 10,000 15,000 20,000 25,000 COREM – Interim Report January–September 2026 2 Cover photo: The property Helgafjäll 5, Kista Corem is a commercial real estate company with focus on management, development and sustainable ownership of commercial real estate. The property portfolio is located in metropolitan and growth areas, where it is managed in-house by skilled and locally present staff. The locally based management guarantees proactivity, high commitment and forming of long-term business relationships. Combined with a solid sustainability focus and long-term property development, Corem creates properties for the future.
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COREM – Interim Report January–September 2026 3 2026 3 months Jul–Sep 2025 3 months Jul–Sep 2026 9 months Jan–Sep 2025 9 months Jan–Sep 2025/2026 Trailing 12 months Oct–Sep 2025 12 months Jan–Dec Income, SEKm 796 850 2,382 2,642 3,205 3,465 Net operating income, SEKm 515 557 1,511 1,723 2,013 2,225 Profit from property management, SEKm 207 219 693 695 861 863 Net profit/loss, SEKm 90 –437 33 –1,015 –2,263 –3,311 Earnings per ordinary share of Class A and B, SEK –0.01 –0.42 –0.20 –1.12 –2.02 –2.96 Net asset value (NAV) per ordinary share of Class A and B, SEK 11.16 12.56 11.16 12.56 11.16 10.70 Economic occupancy rate, % 82 85 82 85 82 84 Operating margin, % 65 65 63 65 63 64 Adjusted equity ratio, % 37 41 37 41 37 39 Interest coverage ratio 1.7 1.8 1.7 1.8 1.7 1.8 Loan-to-value ratio, % 56 55 56 55 56 56 See page 22 and corem.se for definitions of key figures. January–September 2026 ■ Income amounted to SEK 2,382 million (2,642) ■ Operating surplus amounted to SEK 1,511 million (1,723) ■ Profit from property management amounted to SEK 693 million (695) ■ Changes in value of properties amounted to SEK –955 million (–1,256) ■ Changes in value of financial assets amounted to SEK 332 million (–328) ■ Profit/loss for the period amounted to SEK 33 million (–1,015), corresponding to SEK –0.20 (–1.12) per ordinary share of class A and B ■ Net letting amounted to SEK 7 million (6) for the quarter and SEK 4 million (–21) for the period. ■ The value of the properties amounted to SEK 44,813 million (46,937) ■ The value of the bank shares amounted to SEK 2.9 billion (–) ■ Net asset value (NAV) per ordinary share of class A and B amounted to SEK 11.16 (10.70) Significant events during the third quarter ■ On 2 July, an Extraordinary General Meeting was held, which resolved on a reduction of the share capital through the cancellation of own shares and an increase of the share capital through a bonus issue without the issue of new shares Events after the end of the period ■ In October, an agreement was signed for the sale of the property Ringpärmen 6 in Sollentuna. Together with the sale of the property Brevduvan 21 in Linköping during the third quarter, these transactions amount to SEK 311 million. Both properties are scheduled to be transferred to the buyers during the fourth quarter ■ Leasing activity continued to develop positively. Subsequent to the end of the quarter, the Company announced, among other things, a new ten-year lease agreement with a mobility company covering approximately 5,700 sq.m. in the properties Alptanäs 2 and Alptanäs 3 in Kista ■ Up to and including 20 October, Corem has divested bank shares with a value of approxi- mately SEK 730 million PROFIT FROM PROPERTY MANAGMENT, SEKm 1)Trailing 12 months Q3 1) 0 300 600 900 1,200 1,500 1,800 20262025202420232022 LOAN TO VALUE, % Q3 0 10 20 30 40 50 60 20262025202420232022 INTEREST-BEARING LIABILITIES, SEKm Q3 0 10,000 20,000 30,000 40,000 50,000 20262025202420232022 PROPERTY VALUE PER CITY, % Stockholm 43% Gothenburg incl. Borås 12% Linköping incl. Kalmar 9% Västerås 7% Malmö incl. Lund 7% Uppsala 6% Norrköping 6% New York 4% Nyköping 3% Copenhagen 3%
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COREM – Interim Report January–September 2026 4 Positive trend for core business and continued focus on stronger cash flow In the third quarter, several positive tenden- cies were apparent in Corem’s core busi- ness. Positive net letting and increased operating income in a comparable portfolio demonstrated that our work on letting, active property management and cost control is generating results. At the same time, the economic occupancy rate was impacted by new vacancies, which means that continued intensive letting efforts will be a clear priority going forward. In parallel, we need to continue to adapt our capital structure and, accordingly, we will continue to streamline the portfolio through the further divestment of properties that have a yield that is far too low or have a large investment requirement. The aim of this is to reduce liabilities and to create the condi- tions for stronger cash flow in the long term. We do not underestimate the challenges facing us, but our direction is clear and our work continues with undiminished focus. STRONGER SWEDISH ECONOMY BUT CONTINUED UNCERTAIN BUSINESS ENVIRONMENT The Swedish economy strengthened during the year and the recovery has gained momentum. Despite a cautious situation in domestic politics, we are seeing an improved mood among compa- nies and households, resulting in a more positive view than at the beginning of the year. At the same time, unemployment remains relatively high and geopolitical developments are creating uncertainty regarding global growth and the willingness to make investments. The conditions for the property market have improved successively. The activity in the trans- action market has increased at the same time as the financing market has strengthened. In the rental market, we can still see a two-pronged trend. The demand for modern and well-located premises is healthy, while parts of the office market in Stockholm, in particular, are charac- terised by a larger offering and longer deci- sion-making processes. However, the level of activity is significantly higher than it was a year ago. In several of our regional markets, we are seeing more stable demand, a trend that has been sustained for some time. POSITIVE NET LETTING AND STABLE OPERATING INCOME Several areas of our operating activities conti- nue to perform favourably. Net letting was posi- tive and amounted to SEK 7 million for the quar- ter. During the first nine months of the year, we signed a total of approximately 350 new leases at a total annual contract value of more than SEK 300 million. The larger contracts include a six-year lease with the County Administrative Board for more than 6,300 square metres in central Linköping. This is a significant transaction in the Linköping market and a lease of which we are very proud. The property became vacant at the beginning of the year and, after slightly more than six months, Several areas of our operating activities continue to perform favourably we have now leased it in its entirety. We also signed a lease with Rarity Bioscience for approx- imately 1,300 square metres in Uppsala and extended Ericsson’s lease in Linköping for approximately 16,000 square metres. These trans- actions demonstrate the breadth of our offering, the value of our local presence and our long-term work in close proximity to the customers. Despite a cold start to the year with higher heating and snow clearance costs as a result, the operating income in a comparable portfolio increased by 2 per cent compared with the first Corem signed, among others, a six-year lease agreement during the quarter with RF-SISU Stockholm at Solna Gate for approximately 800 sq.m. of space.
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COREM – Interim Report January–September 2026 5 The economic occupancy rate declined somewhat during the quarter. This is attributable to factors that include a tenant dispute that was resolved during the quarter resulting in a vacancy. This settlement also included a non-re- curring amount of SEK 20 million that was charged to property costs for the quarter. During the quarter, negative changes in the value of the property portfolio of SEK 543 million were recorded. This was mainly due to a higher yield requirement for some ten properties in Kista in Stockholm. The value changes reflect the increased uncertainty in the office market in the area, but does not change our long-term view of Kista’s significant potential. Our recently announced lease agreement with a mobility company in the area is a good example of the activity we see and help facilitate every day. Our focus remains on strengthening the attractive- ness of the area through active development of this part of the portfolio, which, in terms of value, comprises 14 per cent of Corem’s portfolio. ACTIVE PORTFOLIO GOVERNANCE AND CONTINUED STREAMLINING To us, transactions are an integrated part of our active property management. We continuously evaluate the composition of our property portfo- lio and can divest properties that no longer correspond to our long-term strategy. During the quarter, we agreed the sale of an office property in Linköping at an underlying property value of SEK 160 million. At the beginning of October, we agreed the sale of a property in Sollentuna at an underlying property value of SEK 151 million. Both of these properties will be transferred during the fourth quarter. CONTINUED WORK FOR A STRONGER CAPITAL STRUCTURE In parallel with the operational work, we conti- nued to optimise Corem’s capital structure. It is gratifying to see that the average interest has declined since the beginning of the year and that the interest-coverage ratio strengthened during the quarter. Our focus is the step-by-step creation of a stronger financial platform. This entails that we work in parallel to increase profitability, adapt the cost base to a smaller and more focused property portfolio, and thereby reduce liabilities. We continuously evaluate the possibilities to repurchase our own shares. During the year, we conducted repurchases across all share types totalling approximately SEK 550 million, with the repurchases of class B shares corresponded to slightly more than 11 per cent of the number of class B shares outstanding at the beginning of the year. Against this backdrop, an Extraordinary General Meeting during the summer resolved to cancel the repurchased shares. This contributes to a more efficient capital structure and a higher net asset value per share. Our holding of Nordic bank shares, which serve as a liquidity reserve, performed well and we recorded a positive change in value of SEK 322 million for the period. OUTLOOK For Corem, the outlook is clear. We will increase our occupancy rate, enhance the efficiency of our property management and improve earnings in the existing portfolio. Strategic divestments will streamline the portfolio and, above all, free up capital to reduce borrowing and the financial expenses. Our focus here and now remains on financial stability and stronger cash flow. Through a more focused portfolio, more efficient operations and reduced financial risk, we are creating the condi- tions for increased profitability. Rutger Arnhult Chief Executive Officer Stockholm, 21 October 2026 Strategic divestments will streamline the portfolio and, above all, free up capital to reduce borrowing and the financial expenses nine months of the preceding year, while income in a comparable portfolio increased by 1 per cent. However, for the overall portfolio, operating income decreased 12 per cent, which was attrib- utable to divestments implemented and a result- ing smaller portfolio. The performance in the comparable portfolio is confirmation that our long-term work on cost control, energy effi- ciency and active property management is continuing to generate results.
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COREM – Interim Report January–September 2026 6 Income, expenses and profit Income statement items are compared with the corresponding period last year. Balance sheet items refer to the position at the end of the period and are compared with the preceding year-end. The quarter refers to July–September and the period refers to January–September. Income Income amounted to SEK 796 million (850) during the third quarter and SEK 2,382 million (2,642) during the January–September period. Income was positively affected by index adjust- ment and negatively by divestments, transfers agreed earlier and agreed discounts. In a compa- rable portfolio, income increased by 1 per cent during the period. Expenses Property expenses amounted to SEK 281 million (293) during the quarter and SEK 871 million (919) during the period, as a smaller portfolio following divestments resulted in lower costs. At the same time, a settlement resulted in a one-off cost of SEK 20 million, which was charged to the quar- ter’s property operating expenses. Property costs in a comparable portfolio increased by 1 per cent for the period. The increase was mainly due to higher costs for heat- ing and snow clearance. Central administration costs amounted to SEK 31 million (33) during the quarter and SEK 96 million (104) during the period. Financial items Financial income amounted to SEK 311 million (3) during the period, of which dividends amoun- ted to SEK 302 million (–). Financial expenses amounted to SEK 977 million (866) during the period, of which exchange-rate losses amoun- ted to SEK 5 million (0). The net change in finan- cial expenses was attributable to a lower amount of interest capitalised in development projects and lower borrowing costs. Site lease- hold fees and land lease expenses amounted to SEK 56 million (61). At the end of the quarter, the Group’s average interest rate was 4.1 per cent (4.6). For further information, refer to page 12. Earnings Operating surplus amounted to SEK 515 million (557) during the quarter and SEK 1,511 million (1,723) during the period. The operating margin was 65 per cent (65) during the quarter and 63 per cent (65) during the period. In a comparable portfolio, operating surplus increased by 2 per cent during the period, while the net operating margin amounted to 65 per cent. Profit from property management amounted to SEK 207 million (219) during the quarter and SEK 693 million (695) during the period. Changes in value PROPERTIES Changes in the value of investment properties amounted to SEK –543 million (–495) during the quarter and SEK –955 million (–1,256) during the period. Unrealised changes in value during the quarter amounted to SEK –543 million (–495) and realised changes in value to SEK 0 million (0). For further information, refer to page 7. FINANCIAL ASSETS Value changes of financial assets valued at fair value amounted to SEK 332 million (–328) during the period, of which value changes in listed shares amounted to SEK 332 million (–). The value of the holding in the Klövern property company increased by SEK 10 million (–328) during the period. For further information, refer to page 13. DERIVATIVES Changes in value of derivatives amounted to SEK 185 million (–204) during the period of which inter- est rate derivatives amounted to SEK 233 million (–204), while currency derivatives amounted to SEK –48 million. The value of the derivatives is affected by changes in market interest rates. Goodwill During the quarter, impairment of goodwill amounted to SEK –44 million (–150) and during the period to SEK –118 million (–182 million). INCOME, SEKm 1)Trailing 12 months Q3 1) 0 1,000 2,000 3,000 4,000 5,000 20262025202420232022 PROFIT FROM PROPERTY MANAGMENT, SEKm 1)Trailing 12 months Q3 1) 0 300 600 900 1,200 1,500 1,800 20262025202420232022 Impairment during the quarter refers to goodwill attributable to deferred tax where the impairment occurs due to negative unrealised value changes and property disposals, as well as impairment of goodwill related to synergies. Tax During the period, current tax amounted to SEK –40 million (–49) and deferred tax to SEK –64 million (309). Deferred tax attributable to deriva- tives and the reversal of tax losses carried forward had a negative impact on earnings, while deferred tax related to properties had a positive impact on earnings due to negative changes in the value of the property portfolio. Other comprehensive income Other comprehensive income during the period amounted to SEK –9 million (–813) and refers to currency conversion differences in foreign opera- tions. During the second quarter, SEK –180 million (–) was reclassified from the translation reserve to the income statement.
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COREM – Interim Report January–September 2026 7 The property portfolio Property values On 30 September 2026, Corem’s property port- folio comprised 239 (244) investment properties with a combined lettable area of 2,042 tsq.m. (2,048) and a market value of SEK 44,813 million (46,937). Corem conducts internal valuation of all properties each quarter. For the quality assur- ance of the internal valuation, external valua- tions are conducted by independent valuation agencies. During the quarter, 9 per cent of the property value was valued externally. As a rule, every property is valued by external valuers at least once annually, where exceptions may be made for individual properties. Bryggan, Cush- man & Wakefield, Newsec and Savills were the valuation agencies used during the quarter. As support for the internal valuation, Corem obtains continuous market information from external valuation agencies. For a sensitivity analysis and a description of the valuation prin- ciples, see Corem’s Annual Report. Changes in value Value changes in investment properties amounted during the period to SEK –955 million (–1,256), corresponding to –2 per cent. Unreal- ised changes in value amounted to SEK –1,130 million and realised value changes amounted to SEK 175 million. Realised changes in value include a transfer of the translation difference from comprehensive income of SEK 180 million related to reduced investment in the US. Unrealised changes in value for the quarter amounted to SEK –543 million (–495) and was largely attributable to Kista, primarily as a result of increased yield requirements and revised cash flow assumptions for properties in the area. As at 30 September 2026, the property portfolio was valued using an average assessed yield requirement of 6.2 per cent (6.1). Property transactions During the January-September period, 5 proper- ties were transferred at an underlying property value of SEK 2,390 million. No properties were divested and transferred during the third quarter. The profit effect, including dissolved tax and impairment of goodwill attributable to deferred tax amounted to SEK 0 million for the quarter and SEK –1 million for the nine-month period. See all divestments for the quarter on page 8. Tenants and the lease portfolio On 30 September 2026, Corem had approxi- mately 2,700 tenants with approximately 4,900 lease contracts. The annual contract value amounted to SEK 3,239 million (3,372), the rental value amounted to SEK 3,946 million (4,027) and the economic occupancy rate to 82 per cent (84). The average remaining contract period was 3.3 years (3.2). Of the contracted rent, 53 per cent falls due in 2029 or later. Of the annual contract value for offices, 18 per cent refers to rental income from public entities such as authorities, municipalities and regions. NET LETTING Net letting amounted to SEK 7 million (6) for the quarter and SEK 4 million (–21) for the period. In total, lettings and renegotiations amounted to SEK 115 million during the quarter, of which 31 per cent pertained to new customers and the remainder to existing customers. SELECTED LETTINGS During the third quarter of the year, several major lease agreements were signed. At the property Elefanten 17 in Linköping, a six-year lease agreement was signed with the County Administrative Board (Länsstyrelsen) for NET LETTING, SEKm Quarter Trailing 12 months -60 -30 0 30 60 90 120 150 Q3 Q4 Q1 Q2Q3 Q4 Q1 Q2 2022 2023 2024 2025 2026 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 CONTRACT STRUCTURE, SEKm 0 200 400 600 800 1,000 1,200 2030-2029202820272026 approximately 6,300 sq.m., with occupancy scheduled for the third quarter of 2027. At Aprikosen 2 (Solna Gate), a six-year lease agree- ment was signed with RF-SISU for approxi- mately 800 sq.m., with occupancy planned for the turn of the year. At Isafjord 8 in Kista, a three- year lease agreement was signed with Indus- trikomponenter for approximately 900 sqm, with occupancy scheduled for the third quarter of 2026.
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COREM – Interim Report January–September 2026 8 INVESTMENT PROPERTIES: LETTABLE AREA, FAIR VALUE Jan–Sep 2026 2025 Number Sq.m. SEKm SEKm Total at the start of the year 244 2,048,335 46,937 55,205 Acquisitions — — — — Investments in construction, extensions and refurbishment — 2,581 778 1,497 Divestments –5 –8,857 –2,020 –5,049 Changes in value, unrealised — — –1,130 –3,758 Currency conversion — — 248 –958 Total at the end of the period 239 2,042,059 44,813 46,937 PROPERTY TRANSACTIONS, TRANSFER OF POSSESSION JAN–SEP 2026 Lettable area, sq.m. Quarter Property City Municipality Property category Acquisi- tion Divest- ment Q1 Växellådan 1 & 3 Stockholm Täby Office — 4,915 Q1 Gården 1 Linköping Linköping Office — 1,472 Q1 Kindbogården 1:107 Gothenburg Härryda Warehouse/logistics — 2,470 Q2 417 Park Avenue New York — Land — — Q3 — — — — — — Total 8,857 COMPLETED PROJECT Corem’s largest project is a 23-storey office building at 1245 Broadway in New York. The property is fully let. The final tenant adaptations were completed in the third quarter.
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COREM – Interim Report January–September 2026 9 Linköping, Idéskaparen 2 LETTING In Linköping, in the Idéskaparen 2 property, an extension was signed for the lease with Ericsson for five years and approximately 16,000 sq.m. The lease will apply from the third quarter of 2027. Linköping, Elefanten 17 ONGOING PROJECT/LETTING In Linköping, in the Elefanten 17 property, a six-year lease was signed with the County Administrative Board for approximately 6,300 sq.m. The premises will be refurbished prior to move-in. Move-in is planned for the third quarter of 2027. Nyköping, Standard 17 ONGOING PROJECT In Nyköping, in the Standard 17 property, tenant adaptation is in progress for Länsförsäkringar Sörmland with scheduled move-in during the third quarter of 2027. Västerås, Loke 24 ONGOING PROJECT In Västerås, at Gallerian, the Loke 24 property, tenant adaptation for FirstOffice is in progress, with scheduled move-in during the first quarter of 2027. Stockholm, Kardborren 13 ONGOING PROJECT In Täby, in the Kardborren 13 property, tenant adaptation for Region Stockholm is in progress, with scheduled move-in during the fourth quarter of 2026. Uppsala, Fyrislund 6:6 LETTING In Uppsala Business Park, in the Fyrislund 6:6 property, a four-year lease was signed with Rarity Bioscience for approximately 1,300 sq.m. Move-in is planned for the fourth quarter of 2026.
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COREM – Interim Report January–September 2026 10 COREM’S LARGEST ONGOING NEW BUILD, EXTENSION AND CONVERSION PROJECTS, 30 SEPTEMBER 2026 City Property Description Project area, sq.m. Estimated investment, SEKm Remaining investment, SEKm Completion, year/quarter Linköping Elefanten 17 Tenant adaptation for Länsstyrelsen 6,310 99 94 27/Q3 Stockholm Nattskiftet 12,14 Tenant adaptation for an authority 5,826 65 23 27/Q1 Stockholm Alptanäs 2 Tenant adaptation for a mobility company 2,290 59 57 27/Q2 Nyköping Standard 17 Tenant adaptation for Länsförsäkringar Sörmland 2,584 42 40 27/Q3 Stockholm Kardborren 13 Tenant adaptation for Region Stockholm 3,406 28 15 26/Q4 Västerås Loke 24 Tenant adaptation for FirstOffice 1,361 26 22 27/Q1 1) Estimated and remaining investment in projects, and rental value, in New York are based on the SEK/USD exchange rate on 30 September 2026. Project development Corem’s project development takes place mainly in connection with lettings and to adapt and modernise existing premises and properties, thereby increasing the rental value or opera- tional performance. During the period, SEK 778 million (976) was invested in the property portfolio for new construction, extensions and refurbishments. As at 30 September 2026, the remaining invest- ment volume amounted to SEK 653 million (743). LARGER ONGOING PROJECTS IN SWEDEN In Linköping, in the Elefanten 17 property, tenant adaptations are in progress for Länsstyrelsen with move-in planned for the third quarter of 2027. In Stockholm, in the Nattskiftet 12 and 14 properties, tenant adaptation is in progress, with completion scheduled for the first quarter of 2027. In Kista, at the property Alptanäs 2, tenant adaptation is in progress and are scheduled for completion during the second quarter of 2027. In Nyköping, in the Standard 17 property, tenant adaptation is in progress for Länsförsäk- ringar with move-in planned for the third quarter of 2027. In Täby, in the Kardborren 13 property, tenant adaptation for Region Stockholm is in progress, with move-in planned for the fourth quarter of 2026. In Västerås, in the Loke 24 property, also known as Gallerian, tenant adaptation for First- Office is in progress, with scheduled move-in during the first quarter of 2027. PROJECT IN NEW YORK The project at 1245 Broadway, involving the development of a high-quality office building, is now considered fully completed. The final tenant INVESTMENTS PER PROJECT TYPE Tenant adaptation 76% Maintenance 11% International 6% Energy 3% Other 4% adaptions have been finalized, and the remain- ing tenants will move in during October 2026. The property is fully let and as of 30 September 2026, the contracted rental value of signed lease agreements at 1245 Broadway amounted to USD 19.2 million, corresponding to approximately SEK 190 million, which equates to nearly SEK 11,000 per sq.m.
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COREM – Interim Report January–September 2026 11 Distribution of property holdings Corem’s property holding is divided into the segments Stockholm North, Stockholm South, West, East and International. Stockholm North also includes Uppsala, Västerås and Örebro. West comprises Gothenburg, Borås, and Malmö. East comprises Linköping, Norrköping, Nyköping and Kalmar. The operations in Copenhagen and New York were merged to form International as of 2026. INCOME STATEMENT ITEMS AND INVESTMENTS Income, SEKm Property costs, SEKm Net operating income, SEKm Operating margin, % Investments, SEKm 2026 Jan–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 Jan–Sep Stockholm North 648 782 –285 –300 363 482 56 62 178 182 Stockholm South 611 652 –215 –215 396 437 65 67 248 132 East 475 507 –151 –158 324 349 68 69 126 124 West 491 531 –155 –167 336 364 68 69 122 122 International 157 170 –65 –79 92 91 59 54 104 416 Total 2,382 2,642 –871 –919 1,511 1,723 63 65 778 976 Investment portfolio 2,307 2,468 –825 –822 1,482 1,646 64 67 682 467 Development portfolio 75 174 –46 –97 29 77 39 44 96 509 Total 2,382 2,642 –871 –919 1,511 1,723 63 65 778 976 KEY FIGURES OF PROPERTY HOLDINGS No. of properties Fair value, SEKm Rental value, SEKm Economic occupancy rate, % Lettable area, thousand sq.m. 2026 30 Sep 2025 30 Sep 2026 30 Sep 2025 30 Sep 2026 30 Sep 2025 30 Sep 2026 30 Sep 2025 30 Sep 2026 30 Sep 2025 30 Sep Stockholm North 49 53 12,331 13,793 1,197 1,286 77 80 598 615 Stockholm South 51 60 13,130 13,773 1,009 1,068 81 84 441 470 East 63 67 7,753 7,950 747 767 85 88 483 508 West 72 79 8,677 9,159 761 792 86 88 471 502 International 4 7 2,922 6,732 232 293 93 90 49 61 Total 239 266 44,813 51,407 3,946 4,206 82 85 2,042 2,156 Investment portfolio 215 239 41,373 43,305 3,800 3,804 83 86 1,900 2,011 Development portfolio 24 27 3,440 8,102 146 402 51 75 142 145 Total 239 266 44,813 51,407 3,946 4,206 82 85 2,042 2,156 RENTAL VALUE, SEK/SQ.M. Q3 0 400 800 1,200 1,600 2,000 20262025202420232022 PROPERTY VALUE, SEK/SQ.M. AND LETTABLE AREA, TSQ.M. SEK/Sq.m. Thousand sq.m. Property value/sq.m. Lettable area Q3 0 5,000 10,000 15,000 20,000 25,000 20262025202420232022 0 700 1,400 2,100 2,800 3,500 LETTABLE AREA BY TYPE, % Office 60% Logistics 21% Retail 7% Other 12%
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COREM – Interim Report January–September 2026 12 Financing Interest-bearing liabilities On 30 September 2026, interest-bearing liabili- ties amounted to SEK 28,700 million (28,768). Accrued borrowing overheads amounted to SEK 94 million (128), which entails interest-bearing liabilities in the balance sheet of SEK 28,606 million (28,640). Corem’s interest-bearing liabilities are mainly secured by mortgages and/or shares in subsidiaries. Unsecured interest-bearing liabili- ties consist of commercial paper and unsecured bonds, which amounted to SEK 1,155 million (1,205) and SEK 3,786 million (4,870) at the end of the quarter. Corem’s commercial paper programme had a framework amounting to SEK 5,000 million. Outstanding commercial paper has back-up facilities in the form of unutilised credit facilities in Nordic banks. The average period of tied-up capital amounted to 1.8 years (2.1) and the loan-to-value ratio was 56 per cent (56). INTEREST-BEARING NET DEBT SEKm 2026 30 Sep 2025 31 Dec Interest-bearing liabilities in the balance sheet 28,606 28,640 Adjustment, accrued borrowing overheads 94 128 Interest-bearing assets –131 –142 Shareholding –2,931 — Cash and cash equivalents –163 –1,804 Interest-bearing net liabilities 25,475 26,823 BONDS At the end of the quarter, the Group had SEK 3,786 million in outstanding listed bonds, matur- ing in 2027 to 2028. Interest maturity structure On 30 September 2026, the average interest rate in the loan portfolio was 4.1 per cent (4.6). Corem, like all property companies, is exposed to interest-rate risk. Interest rate swaps and interest rate caps are used to limit the inter- est rate risk. At the end of the quarter, Corem had interest rate swaps for a nominal value of SEK 21,786 million (22,286), which corre- sponded to 76 per cent of the interest-bearing liabilities. Together with fixed interest loans, 78 per cent of the interest-bearing liabilities carried fixed inter- est at the end of the period. An increase of 1 percentage point in market interest rates at the end of the period would have increased Corem’s average borrowing rate by 0.2 percentage points, equivalent to approximately SEK 65 million in annual interest expenses. The swaps run with an average remaining term of 1.8 years and an average fixed interest rate of 2.2 per cent. On 30 September 2026, the market value of the interest rate derivatives portfolio amounted to net SEK 256 million (22). INTEREST COVERAGE RATIO, MULTIPLE 1)Trailing 12 months 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 20262025202420232022 Q3 1) AVERAGE INTEREST RATE, % 202620252024202320222021 Q3 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 Changes in the value of derivatives amounted to SEK 246 million (101) during the quarter. The average period of fixed interest amounted to 1.5 years (2.1) at the end of the quarter taking derivatives into account. The interest coverage ratio during the period amounted to 1.7 multiples (1.8) and to 1.7 (1.7) during the most recent four quarters. Cash and cash equivalents On 30 September 2026, cash and cash equiva- lents amounted to SEK 163 million (1,804). Restricted cash of SEK 3 million is included in cash and cash equivalents and may only be used for a particular purpose in accordance with an agreement with a third party. In addition, there were unutilised credit facil- ities, including backup facilities for outstanding commercial paper, of SEK 3,077 million, of which SEK 1,243 million can be used immediately with existing collateral. The net interest-bearing debt amounted to SEK 25,475 million (26,823). Rating Corem Property Group has a credit rating from the Scope Ratings credit rating firm of BB+ with stable outlook. LOAN TO VALUE, % Q3 0 10 20 30 40 50 60 20262025202420232022 ADJUSTED EQUITY RATIO, % Q3 0 10 20 30 40 50 20262025202420232022
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COREM – Interim Report January–September 2026 13 Equity At the end of the quarter, the Group’s equity, attributable to the Parent Company’s sharehold- ers, amounted to SEK 15,448 million (16,490). Equity amounted to SEK 7.74 (7.58) per ordinary share of class A and B, SEK 289.59 (289.59) of class D and SEK 312.72 (312.72) per preference share. Net asset value (NAV) per ordinary share of class A and B amounted to SEK 11.16 (10.70) For further information about changes in equity, see page 19. EQUITY RATIO At the end of the quarter, the adjusted equity ratio amounted to 37 per cent (39) and the equity ratio to 30 per cent (31). Cash flow The Group’s cash flow from operating activities, before changes in working capital, amounted during the period to SEK 627 million (561). FIXED INTEREST AND TIED-UP CAPITAL PERIODS Fixed interest Tied-up capital Maturity year Loan volume, SEKm Contract volume, SEKm Utilised, SEKm Of which outstanding bonds, SEKm Not utilised, SEKm Variable 6,412 — — — — 2026 5,500 7,855 5,848 — 2,007 2027 4,536 3,882 3,312 2,241 570 2028 3,418 13,417 12,917 1,545 500 2029 7,034 4,515 4,515 — — 2030 1,300 1,643 1,643 — — Later 500 465 465 — — Total 28,700 31,777 28,700 3,786 3,077 BOND OVERVIEW 30 SEPTEMBER 2026 Type Issued Maturity Issuer Outstanding volume, SEKm Interest rate, % Green unsecured Apr-24 Jan-27 Corem 976 3m Stibor + 3.75 Green unsecured Sep-24 Sep-27 Corem 1,265 3m Stibor + 2.95 Green unsecured Jan-25 Apr-28 Corem 920 3m Stibor + 4.25 Green unsecured Sep-25 Sep-28 Corem 625 3m Stibor + 2.75 Total 3,786 Cash flow from investing activities amoun- ted during the period to SEK –1,160 million (–2,031) and during the quarter to SEK –146 million (–302). The change during the quarter was attributable to investments in properties and positive cash flow from investments in listed shares. Cash flow from financing activities during the period amounted to SEK –1,121 million (–2,848), with the change primarily attributable to dividend payments, share buybacks and loan amortisations. Shareholding Financial assets valued at fair value consist of listed Nordic bank shares and the holding in Klövern. Klövern is an unlisted residential devel- opment company that develops homes for sale and proprietary management. At the end of the quarter, Corem’s holding in bank shares amounted to SEK 2,931 million (–) and its hold- ing in Klövern amounted to SEK 751 million (741), corresponding to a shareholding of 8 per cent (8) at the end of the period. A three-year lease agreement was signed during the quarter with Industrikomponenter for approximately 900 sq.m. at the Isafjord 8 property in Kista.
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COREM – Interim Report January–September 2026 14 The share and shareholders Corem Property Group is listed on Nasdaq Stockholm Large Cap with four classes of shares: ordinary shares of class A, ordinary shares of class B, ordinary shares of class D and preference shares. On 30 September 2026, Corem had a total of 1,273,568,990 shares, of which 90,210,440, were ordinary shares of class A, 1,163,750,254 ordinary shares of class B, 7,358,622 ordinary shares of class D and 12,249,674preference shares. Each ordinary share of class A entitles the holder to one vote, while an ordinary share of class B, an ordinary share of class D and a preference share entitles the holder to a tenth of a vote each. The dividend for each type of share is paid in accord- ance with the resolution of the Annual General Meeting and in accordance with the Articles of Association. Repurchase and cancellation of own shares During the quarter, Corem repurchased its own shares through two parallel repurchasing programmes that were initiated on 27 April 2026, one of which remained in effect until 9 July 2026. During the third quarter, until 9 July 2026, Corem repurchased 5,100,000 ordinary shares of class B, 9,400 ordinary shares of class D and 8,717 preference shares. On 2 July, Corem held an Extraordinary General Meeting, which resolved on a reduction of the share capital through the cancellation of own shares and an increase of the share capital through a bonus issue without the issue of new shares The cancellation was conducted on 3 July 2026. Through this cancellation, there is once again scope for continued repurchase in accordance with the authorisation of the Annual General Meeting. As at 30 September, Corem held 25,000,007 repurchased ordinary shares of class B, 43,533 repurchased ordinary shares of class D and 43,762 repurchased preference shares. The total market value at that time amounted to SEK 70 million. The shares were repurchased at an aver- age price of SEK 2.47 per ordinary share of class B, SEK 229.89 per ordinary share of class D and SEK 233.55 per preference share. Conversion of ordinary shares of class A to ordinary shares of class B. In February and August each year, holders of ordinary shares of class A have the right to request that the shares be converted into ordi- nary shares of class B. No request was received for the conversion from class A to class B during the first or second conversion period. SHARE DATA, 30 SEP 2026 Market capitalisation SEK 7.0 bn Market place Nasdaq Stockholm, Large Cap LEI No. 213800CHXQQD7TSS1T59 No. of share- holders 42,034 Ordinary share, class A No. of shares 90,210,440 Closing price SEK 3.19 ISIN SE0010714279 Ordinary share, class B No. of shares 1,163,750,254 Closing price SEK 2.05 ISIN SE0010714287 Ordinary share, class D No. of shares 7,358,622 Closing price SEK 211.00 ISIN SE0015961594 Preference share No. of shares 12,249,674 Closing price SEK 223.00 ISIN SE0010714311 DIVIDEND PER ORDINARY SHARE A/B, SEK 0.00 0.10 0.20 0.30 0.40 0.50 20252024202320222021 NET ASSET VALUE (NAV) PER ORDINARY SHARE A/B, SEK Q3 0 5 10 15 20 25 30 35 20262025202420232022
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COREM – Interim Report January–September 2026 15 COREM’S LARGEST SHAREHOLDERS ON 30 SEP 2026 Shareholder No. ordinary shares A, thousands No. ordinary shares B, thousands No. ordinary shares D, thousands No. prefer- ence shares, thousands Share of capital, % Share of votes, % Rutger Arnhult privat och via companies1) 75,676 647,185 3,494 86 57.04 68.31 State Street Bank & Trust Co — 41,632 14 153 3.28 2.03 Nordnet Pensionsförsäkring AB 103 18,224 99 314 1.47 0.95 Avanza Pension 266 14,769 354 1,744 1.35 0.95 Handelsbanken fonder — 19,248 112 — 1.52 0.94 Prior & Nilsson — 17,676 — 16 1.39 0.86 Fredrik Rapp private and via companies 750 9,500 — — 0.80 0.83 JP Morgan Chase Bank N.A. — 16,094 — 255 1.28 0.79 Swedbank Robur fonder 1,593 — — — 0.13 0.77 SEB Life International 1,101 3,202 31 24 0.34 0.69 Handelsbanken Liv Försäkringsaktiebolag 4 13,559 5 135 1.08 0.67 Livförsäkringsbolaget Skandia, Ömsesidigt 665 5,303 — 0 0.47 0.58 Patrik Tillman private and via companies 571 5,733 77 — 0.50 0.56 Fredrik Svensson — 11,297 — 50 0.89 0.55 Nordea Livförsäkring Sverige AB 9 10,313 44 55 0.82 0.51 Other shareholders 9,471 305,015 3,084 9,373 25.67 20.01 Total outstanding shares, thousands 90,210 1,138,750 7,315 12,206 98.03 100.00 Repurchased own shares2) — 25,000 44 44 1.97 Total registered shares, thousands 90,210 1,163,750 7,359 12,250 100.00 100.00 1) Due to routines at Ålandsbanken, Banque Internationale à Luxembourg and Union Bancaire Privée, the banks have been registered in Euroclear’s share register as owners of part of their clients’ Corem shares. An adjustment has been made to reflect this, in order to give a fair view of the Company’s largest shareholders. 2) Repurchased shares have no voting rights and are not entitled to dividends. The property Hilton 3, Solna, in its autumn attire.
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COREM – Interim Report January–September 2026 16 Other information Accounting policies This interim report for the Group has been prepared in compliance with the Annual Accounts Act and IAS 34 Interim Financial Reporting and for the Parent Company in compliance with the Annual Accounts Act and RFR 2 Accounting for legal entities. Disclosures under IAS 34 16A are disclosed in the financial reports and are also included in other parts of the interim report. Properties in the Group are valued in compli- ance with Level 3 in the IFRS valuation hierarchy. The fair value of financial instruments in the Group reported as accrued acquisition value agrees essentially with the carrying amounts. The same applies to the Parent Company. No changes in the categorisation of financial instruments took place during the period. Financial assets valued at fair value which are listed in a market, are valued in accordance with Level 1 of the valuation hierarchy while the holding in Klövern AB, which is not listed, is valued in accordance with Level 3 of the valua- tion hierarchy. The valuation of Klövern is based mainly on the calculation of discounted cash flows, which is supplemented by an analysis of the net asset value and a number of key figures for similar companies. Derivatives are valued in accordance with Level 2 of the valuation hierarchy. No new or changed standards or interpreta- tions from IASB have had any material impact on the Interim Report and the accounting policies applied are those described in Note 1 of Corem’s Annual Report for 2025. The new standard, IFRS 18 Presentation and Disclosure in Financial Statements, will become effective for financial years beginning on 1 Janu- ary 2027 and will replace IAS 1. The changes will affect the financial state- ments, primarily the income statement. The income statement will be structured into the categories operating, investing, financing, and taxes, and several mandatory subtotals will be introduced. Financial income and financial expenses will be allocated between the invest- ing and financing categories, while fair value changes will be classified within operating, investing, or financing activities. In addition, entities will be required to provide disclosures regarding management- defined performance measures. These changes will not affect the recognition or measurement of items in the financial statements. Rounding differences may occur in this report. Definitions A number of financial key ratios and measures are presented in the report which are not defined according to IFRS. Corem believes these key ratios and measures provide valuable supplementary information to investors and the Company’s management in analysing the Company’s operations. As not all companies calculate financial key ratios and measures in the same way, these are not always compara- ble. On the Company’s website, the definitions of selected key ratios and measures are presented as well as an appendix showing the calculations of selected key ratios that are not directly identifiable from the financial reports. Sustainability Sustainability is an important part of Corem’s business and is integrated in the daily operations. It embraces social, ecological and economic sustainability and is focused on the areas Good business partner and long-term value develop- ment, Attractive employer, Reduced climate impact and Sustainable and living city. Sustaina- bility activities are reported on the website on a full-year basis, see Corem’s Annual and Sustaina- bility Report. Employees Locally based property management with own staff, in order to achieve closeness to customers and in-depth market knowledge, is an integral part of Corem’s strategy. Corem has its registered office in Stockholm where the head office is also located. The average number of employees in the Group during the period was 267 (279). 47 per cent (47) of the employees were women. Risks Corem has a continuous process to identify and assess the material risks that may affect the Company’s financial position and earnings. For more information on risks, see Corem’s Annual Report. No material changes to risk assessment have taken place during the current year. Disputes A dispute was resolved during the quarter, result- ing in a vacancy. The settlement led to a one-off charge of SEK 20 million, which is recognized in the quarter’s property operating expenses. Transactions with related parties Intra-Group services and transactions with related parties are charged at market prices and on commercial terms. Intra-group services consist of administrative services and charging of intra-group interest rates. Transactions with Wästbygg amounted to SEK 4 million (0) during the period. Wästbygg is an associated company of the M2-Gruppen, which is controlled by Rutger Arnhult. In addition, the Corem Group purchased legal services during the period from Walthon Advokater, in which the Chairman of the Group Patrik Essehorn is a shareholder, for an amount of SEK 5 million (9). Parent Company The Parent Company’s business consists of the sale of management services to the Group’s subsidiaries as well as strategic management and administration for the Company’s listing on Nasdaq Stockholm.
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COREM – Interim Report January–September 2026 17 Net sales amounted to SEK 331 million (353). Net profit for the period amounted to SEK 365 million (276). The result was impacted by divi- dends corresponding to SEK 302 million from the Company’s holding of listed shares. Inter- est-bearing liabilities amounted to SEK 17,229 million (16,428) which is lent onward to other Group companies. Dividend During the nine-month period, dividends totalling SEK 403 million were paid pertaining to ordinary shares of Class A and B, and ordinary shares of Class D and preference shares, in accordance with the resolution of the Annual General Meeting. Events after the end of the period In October, an agreement was signed for the sale of the property Ringpärmen 6 in Sollentuna. Together with the sale of the property Brevduvan 21 in Linköping during the third quarter, these transactions amount to SEK 311 million. Both properties are scheduled to be transferred to the buyers during the fourth quarter. Leasing activity continued to develop positi- vely. Subsequent to the end of the quarter, the Company announced, among other things, a new ten-year lease agreement with a mobility.company covering approximately 5,700 sq.m. in the proper- ties Alptanäs 2 and Alptanäs 3 in Kista Up to and including 20 October, the Company had divested bank shares with a value of approxi- mately SEK 730 million. Stockholm, 21 October 2026 The Board of Directors of Corem Property Group AB (publ) This interim report has been reviewed by Corem’s auditors. Review Report Corem Property Group AB (publ) corporate ID no. 556463-9440 INTRODUCTION We have reviewed the condensed interim report for Corem Property Group AB as at 30 Septem- ber 2026 and for the nine-month period then ended. The Board of Directors and the CEO are responsible for the preparation and presenta- tion of this interim report in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this report based on our review. DIRECTION AND SCOPE OF REVIEW We conducted our review in accordance with the International Standard on Review Engage- ments, ISRE 2410 Review of Interim Financial Statements Performed by the Independent Auditor of the Entity. A review consists of making inquiries, primarily of persons responsi- ble for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Interna- tional Standards on Auditing and other generally accepted auditing standards in Sweden. The procedures performed in a review do not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, the stated conclusion based on a review does not have the certainty of a stated conclusion based on an audit. CONCLUSION Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, in accordance with IAS 34 and the Swedish Annual Accounts Act regarding the Group, and in accordance with the Swedish Annual Accounts Act regarding the Parent Company. Stockholm, 21 October 2026 KPMG AB Mattias Johansson Authorised Public Accountant Solar panels at the property Kopparhammaren 2 in Norrköping.
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COREM – Interim Report January–September 2026 18 Consolidated Income Statement in brief SEKm 2026 3 months Jul–Sep 2025 3 months Jul–Sep 2026 9 months Jan–Sep 2025 9 months Jan–Sep 2025/2026 Trailing 12 months Oct–Sep 2025 12 months Jan–Dec Income 796 850 2,382 2,642 3,205 3,465 Property costs –281 –293 –871 –919 –1,192 –1,240 Net operating income 515 557 1,511 1,723 2,013 2,225 Central administration –31 –33 –96 –104 –129 –137 Financial income 54 1 311 3 315 7 Financial expenses –312 –286 –977 –866 –1,261 –1,150 Lease expenses/site leasehold fees –19 –20 –56 –61 –77 –82 Profit from property management 207 219 693 695 861 863 Value changes, properties –543 –495 –955 –1,256 –3,605 –3,906 Value changes, financial assets 246 –14 332 –328 371 –289 Value changes, derivatives 246 101 185 –204 247 –142 Impairment, goodwill –44 –150 –118 –182 –330 –394 Profit/loss before tax 112 –339 137 –1,275 –2,456 –3,868 Tax –22 –98 –104 260 193 557 Net profit/loss for the period 90 –437 33 –1,015 –2,263 –3,311 Net profit for the period attributable to: Parent Company shareholders 90 –437 33 –1,015 –2,263 –3,311 Holdings without controlling influence 0 0 0 0 0 0 Profit/loss for the period 90 –437 33 –1,015 –2,263 –3,311 Earnings per share Earnings per ordinary share of Class A and B, SEK –0.01 –0.42 –0.20 –1.12 –2.02 –2.96 No. of shares, thousands Number of outstanding ordinary shares A and B 1,228,961 1,376,924 1,228,961 1,376,924 1,228,961 1,376,365 Average number of outstanding ordinary shares A and B 1,229,360 1,358,214 1,294,601 1,250,980 1,315,349 1,282,723 Number of outstanding ordinary shares D 7,315 7,504 7,315 7,504 7,315 7,502 Number of outstanding preference shares 12,206 12,415 12,206 12,415 12,206 12,414 No dilution effect exists as there are no potential shares (for example, convertibles). Consolidated Report of Comprehensive Income in brief SEKm 2026 3 months Jul–Sep 2025 3 months Jul–Sep 2026 9 months Jan–Sep 2025 9 months Jan–Sep 2025/2026 Trailing 12 months Oct–Sep 2025 12 months Jan–Dec Net profit/loss for the period 90 –437 33 –1,015 –2,263 –3,311 Items that can later be reclassified to the income statement Currency conversion difference for international operations 53 –49 –9 –813 –73 –877 Other comprehensive income after tax 53 –49 –9 –813 –73 –877 Net comprehensive income for the period 143 –486 24 –1,828 –2,336 –4,188 Net comprehensive income attributable to: Parent Company shareholders 143 –486 24 –1,828 –2,336 –4,188 Holdings without controlling influence 0 0 0 0 0 0 Net comprehensive income for the period 143 –486 24 –1,828 –2,336 –4,188
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COREM – Interim Report January–September 2026 19 Consolidated Balance Sheet in brief SEKm 2026 30 Sep 2025 30 Sep 2025 31 Dec ASSETS Non-current assets Goodwill 967 1,296 1,084 Investment properties 44,813 51,407 46,937 Right-of-use assets 1,570 1,743 1,505 Financial assets valued at fair value 3,682 703 741 Derivatives 275 98 102 Other non-current assets 188 124 211 Total non-current assets 51,495 55,371 50,580 Current assets Other current assets 590 825 743 Cash and cash equivalents 163 314 1,804 Total current assets 753 1,139 2,547 TOTAL ASSETS 52,248 56,510 53,127 EQUITY AND LIABILITIES Equity attributable to parent company shareholders 15,448 18,853 16,490 Equity attributable to holdings without controlling influence 0 0 0 Total equity 15,448 18,853 16,490 Long-term liabilities Interest-bearing liabilities 19,261 15,662 17,504 Leasing liabilities 1,570 1,743 1,505 Deferred tax liability 4,968 5,178 4,894 Derivatives 19 138 80 Other liabilities 32 40 27 Total long-term liabilities 25,850 22,761 24,010 Current liabilities Interest-bearing liabilities 9,345 13,255 11,136 Other liabilities 1,605 1,641 1,491 Total current liabilities 10,950 14,896 12,627 Total liabilities 36,800 37,657 36,637 TOTAL EQUITY AND LIABILITIES 52,248 56,510 53,127 Consolidated change in equity in brief SEKm Parent Company shareholders1) Holdings without controlling influence Total Opening equity, 01.01.2025 21,511 0 21,511 Comprehensive income for the period –1,828 — –1,828 New share issue incl. costs 928 — 928 Dividend –534 — –534 Hybrid bond, interest –92 — –92 Hybrid bond, repurchase –1,132 — –1,132 Change in holdings without controlling influence 0 — 0 Closing Equity, 30.09.2025 18,853 0 18,853 Comprehensive income for the period –2,360 — –2,360 Repurchase of own shares –3 — –3 Change in holdings without controlling influence 0 — 0 Closing Equity, 31.12.2025 16,490 0 16,490 Comprehensive income for the period 24 — 24 Dividend –512 — –512 Repurchase of own shares –554 — –554 Change in holdings without controlling influence 0 — 0 Closing Equity, 30.09.2026 15,448 0 15,448 1) Hybrid bonds amounted to SEK 1,132 million as of 1 January 2025.
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COREM – Interim Report January–September 2026 20 Consolidated statement of cash flow in brief SEKm 2026 3 months Jul–Sep 2025 3 months Jul–Sep 2026 9 months Jan–Sep 2025 9 months Jan–Sep 2025/2026 Trailing 12 months Oct–Sep 2025 12 months Jan–Dec Operating activities Net operating income 515 557 1,511 1,723 2,013 2,225 Central administration –31 –33 –96 –104 –129 –137 Depreciation, etc. 3 4 11 14 15 18 Interest received, etc. 2 1 8 4 11 7 Dividend received 51 — 302 — 302 — Interest paid, etc. –313 –271 –953 –866 –1,164 –1,077 Interest expense, lease contracts attributable to site leasehold contracts –19 –20 –56 –61 –77 –82 Income tax paid –4 0 –28 0 –29 –1 Cash flow from operating activities before changes in working capital 204 238 699 710 942 953 Change in current receivables –3 –2 –76 –137 –88 –149 Change in current liabilities 122 14 4 –12 24 8 Cash flow from operating activities 323 250 627 561 878 812 Investing activities Investments in new constructions, extensions and refurbishment –316 –339 –778 –976 –1,299 –1,497 Divestment of investment properties — 38 2,205 2,573 4,422 4,790 Change in listed shares 167 — –2,609 — –2,609 — Change in other non-current assets 3 –1 22 434 24 436 Cash flow from investing activities –146 –302 –1,160 2,031 538 3,729 Financing activities Dividend paid to parent company shareholders –123 –126 –403 –396 –530 –523 Share issue, including expenses — 399 — 925 0 925 Repurchase of own shares –16 — –554 — –557 –3 Hybrid bonds, interest and repurchase — –1,164 — –1,224 — –1,224 Loans raised 1,697 3,198 9,901 13,094 15,435 18,628 Amortised loans –1,658 –2,474 –10,065 –15,247 –15,914 –21,096 Cash flow from financing activities –100 –167 –1,121 –2,848 –1,566 –3,293 Cash flow for the period 77 –219 –1,654 –256 –150 1,248 Cash and cash equivalents at beginning of period 78 536 1,804 586 314 586 Exchange rate difference in cash and cash equivalents 8 –3 13 –16 –1 –30 Cash and cash equivalents at end of period 163 314 163 314 163 1,804 Parent Company Income Statement in brief SEKm 2026 3 months Jul–Sep 2025 3 months Jul–Sep 2026 9 months Jan–Sep 2025 9 months Jan–Sep 2025 12 months Jan–Dec Net sales 107 110 331 353 474 Cost of services sold –76 –77 –235 –249 –336 Gross profit 31 33 96 104 138 Central administration –31 –33 –96 –104 –138 Operating profit 0 0 0 0 0 Earnings from shares in group companies 82 82 246 246 –4,471 Value changes derivatives 6 19 –36 –10 –5 Interest income and similar income statement items 336 326 1,077 624 906 Interest expense and similar income statement items –278 –301 –892 –586 –872 Profit/loss after financial items 146 126 395 274 –4,442 Group contributions, made/received — — — — 1 Profit/loss before tax 146 126 395 274 –4,441 Tax –18 –4 –30 2 –6 Net Profit/loss for the period 128 122 365 276 –4,447 Parent Company Balance Sheet in brief SEKm 2026 30 Sep 2025 30 Sep 2025 31 Dec ASSETS Other intangible non-current assets 2 4 3 Machinery and equipment 1 2 2 Shares in group companies 14,592 20,492 14,592 Other non-current financial assets 2,586 — — Receivables from group companies 18,186 18,326 19,490 Other receivables 44 222 50 Cash and cash equivalents 226 558 1,068 TOTAL ASSETS 35,637 39,604 35,205 EQUITY AND LIABILITIES Restricted equity 2,929 2,871 2,871 Unrestricted equity 14,372 19,857 15,131 Total equity 17,301 22,728 18,002 Interest-bearing liabilities 17,229 15,845 16,428 Liabilities to group companies 578 452 322 Non-interest-bearing liabilities 529 579 453 TOTAL EQUITY AND LIABILITIES 35,637 39,604 35,205
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COREM – Interim Report January–September 2026 21 Key ratios 2026 3 months Jul–Sep 2025 3 months Jul–Sep 2026 9 months Jan–Sep 2025 9 months Jan–Sep 2025 12 months Jan–Dec Property-related Fair value of investment properties, SEKm 44,813 51,407 44,813 51,407 46,937 Yield requirement, valuation, % 6.2 6.0 6.2 6.0 6.1 Rental value, SEKm 3,946 4,206 3,946 4,206 4,027 Lettable area, sq.m. 2,042,059 2,155,632 2,042,059 2,155,632 2,048,335 Economic occupancy rate, % 82 85 82 85 84 Area-based occupancy rate, % 71 75 71 75 74 Operating margin, % 65 65 63 65 64 No. of investment properties 239 266 239 266 244 Average remaining lease contract period, years 3.3 3.2 3.3 3.2 3.3 Financial Return on equity, % 2.3 –9.0 0.3 –6.7 –17.4 Adjusted equity ratio, % 37 41 37 41 39 Equity ratio, % 30 33 30 33 31 Interest-bearing net liability, SEKm 25,475 28,699 25,475 28,699 26,823 Loan-to-value ratio, % 56 55 56 55 56 Loan-to-value ratio, properties, % 48 44 48 44 48 Interest coverage ratio, multiple 1.7 1.8 1.7 1.8 1.8 Average interest rate, % 4.1 4.6 4.1 4.6 4.4 Average period of fixed interest, years 1.5 2.2 1.5 2.2 2.1 Average period of tied-up capital, years 1.8 1.7 1.8 1.7 2.1 2026 3 months Jul–Sep 2025 3 months Jul–Sep 2026 9 months Jan–Sep 2025 9 months Jan–Sep 2025 12 months Jan–Dec Share-related Profit from property management per ordinary share A and B, SEK 0.09 0.06 0.31 0.24 0.29 Earnings per ordinary share, A and B, SEK –0.01 –0.42 –0.20 –1.12 –2.96 Net asset value (NAV) per ordinary share A and B, SEK 11.16 12.56 11.16 12.56 10.70 Equity per ordinary share A and B, SEK 7.74 9.29 7.74 9.29 7.58 Equity per ordinary share D, SEK 289.59 289.59 289.59 289.59 289.59 Equity per preference share, SEK 312.72 312.72 312.72 312.72 312.72 Dividend per ordinary share, A and B, SEK — — — — 0.10 Dividend per ordinary share D, SEK — — — — 20.00 Dividend per preference share, SEK — — — — 20.00 Share price ordinary share A, SEK 3.19 4.80 3.19 4.80 4.49 Share price ordinary share B, SEK 2.05 4.12 2.05 4.12 4.35 Share price ordinary share D, SEK 211.00 244.50 211.00 244.50 240.50 Share price preference share, SEK 223.00 249.50 223.00 249.50 244.50 No. of shares, thousands Number of outstanding ordinary shares A and B 1,228,961 1,376,924 1,228,961 1,376,924 1,376,365 Average number of outstanding ordinary shares A and B 1,229,360 1,358,214 1,294,601 1,250,980 1,282,723 Number of outstanding ordinary shares D 7,315 7,504 7,315 7,504 7,502 Number of outstanding preference shares 12,206 12,415 12,206 12,415 12,414
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COREM – Interim Report January–September 2026 22 Definitions A number of financial key ratios and measures are presented in the report which are not defined according to IFRS. Corem believes these key ratios and measures provide valuable supplementary information to investors and the Company’s management in analysing the Company’s operations. As not all companies calculate financial key ratios and measures in the same way, these are not always comparable. Definitions of selected key ratios and measures are presented below. The definitions are also shown on Corem’s website (https://www.corem.se/investor-relations/definitioner-en) For the key ratios that are not directly identifiable from the financial statements, there is a complementary calculation appendix on the website. Property-related key figures ANNUAL CONTRACT VALUE Rent including supplements and index on an annual basis. COMPARABLE PORTFOLIO The properties, excluding project properties, which were included in the portfolio during the whole of the reporting period and during the whole of the compari- son period. Income and costs of a one-off nature are excluded from comparable results, for example, insur- ance compensation and lease surrender compensation. DEVELOPMENT PORTFOLIO Properties where conversion or extension projects are in progress or planned, which lead to a higher standard or changed use of premises. INVESTMENT PORTFOLIO Properties currently being actively managed. INVESTMENT PROPERTIES The term investment properties in the balance sheet includes the investment portfolio as well as the devel- opment portfolio. LETTABLE AREA Total area available for letting. NET LETTING Annual rent for the tenancy agreements entered into during the period, reduced for terminated tenancy agreements and bankruptcies. OCCUPANCY RATE, AREA Rented area divided by total lettable area. OCCUPANCY RATE, ECONOMIC Annual contracted rent divided by rental value. OPERATING MARGIN Net operating income as a percentage of income. PROPERTIES CLASSIFIED AS CURRENT ASSETS Properties with ongoing production of tenant-owned apartments or which are intended for future tenantowned production. RENTAL VALUE Annual contract value with a supplement for assessed rent of vacant premises. REQUIRED YIELD The required return on the residual value of property valuations. Financial key figures ADJUSTED EQUITY Equity1) adjusted for the value of derivatives including tax, repurchased shares, (based on the share price at the end of respective period) and reported deferred tax properties, less goodwill attributable to deferred tax, as well as deferred tax of 5 per cent attributable to the difference between the properties’ fair value and resid- ual value for tax purposes, as a percentage of total assets adjusted for goodwill attributable to deferred tax and rights of use assets. This key figure illustrates financial stability. AVERAGE INTEREST RATE Average borrowing rate for interest-bearing liabilities and derivatives. This key figure illustrates the applicable interest-rate level for external interest-bearing liabilities on the balance-sheet date. AVERAGE PERIOD OF FIXED INTEREST Average remaining period of fixed interest on interest - bearing liabilities and derivatives. This key figure illustrates financial risk. AVERAGE PERIOD OF TIED-UP CAPITAL Average remaining term of interest-bearing liabilities. This key figure illustrates financial risk. CENTRAL ADMINISTRATION Central administration costs consist of costs for Group management and Group-wide functions. EQUITY RATIO Equity1) as a percentage of total assets. This key figure illustrates financial stability. INTEREST-BEARING NET LIABILITIES The net of interest-bearing liabilities minus interest- bearing assets, listed shareholdings and liquid funds. INTEREST-BEARING LIABILITIES Current and long-term interest-bearing liabilities, as well as activated and capitalised borrowing costs. INTEREST COVERAGE RATIO Profit from property management plus share of associ- ated companies’ profit from property management excluding financial expenses2), divided by financial expenses2). This key figure illustrates the earnings’ sensitivity to interest-rate changes and to assessment of the finan- cial risk. LOAN TO VALUE (LTV) Interest-bearing liabilities after deduction for the market value of listed shareholdings, interest-bearing assets and liquid funds in relation to the fair value of the properties, the holding in Klövern and shares in associ- ated companies. This key figure illustrates financial risk. LOAN TO VALUE (LTV), PROPERTIES Interest-bearing liabilities with collateral in properties, in relation to the fair value of the properties at the end of the period. This key figure illustrates financial risk. NET OPERATING INCOME Income minus property costs (e.g. operating and main- tenance costs and property tax). This key figure illustrates the yield from investment properties. PROFIT FROM PROPERTY MANAGEMENT Net operating income, central administration and finan- cial income and expenses, including ground lease fees. This key figure illustrates the operation’s earnings, including financial expenses, but not including changes in value. REALISED CHANGES IN VALUE, PROPERTIES Realized property sales after deductions for the proper- ties’ most recently reported fair value and overheads at sale. RETURN ON EQUITY Net profit on an annual basis, as a percentage of aver- age of opening and closing equity1). This key figure shows the ability to provide a return on capital invested by the owners. UNREALISED CHANGES IN VALUE, PROPERTIES Change in fair value excluding acquisitions, divest- ments, investments, and currency translation.
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COREM – Interim Report January–September 2026 23 Globen Shopping, the Arenan 2 property, Stockholm. Share-related key data EARNINGS PER ORDINARY SHARE OF CLASS A AND B Net profit after deduction of dividend on preference shares and ordinary shares of class D and interest on hybrid bonds in relation to the average number of outstanding ordinary shares of class A and B. EQUITY PER ORDINARY SHARE OF CLASS A AND B Equity1) after deduction of equity attributable to prefer- ence shares and ordinary shares of class D and hybrid bonds, in relation to the number of outstanding ordinary shares of class A and B. This key figure illustrates the owners’ (ordinary shares of class A and B) share of the Group’s total assets. EQUITY PER ORDINARY SHARE OF CLASS D The ordinary share of class D’s average issue price. This key figure illustrates the owners’ (ordinary shares of class D) share of the Group’s total assets. EQUITY PER PREFERENCE SHARE The preference share’s average issue price. This key figure illustrates the owners’ (preference shares) share of the Group’s total assets. NET ASSET VALUE (NAV) PER ORDINARY SHARE OF CLASS A AND B Equity1), after deduction of equity attributable to preference shares and ordinary shares of class D, hybrid bonds and goodwill attributable to deferred tax, adding back deriva- tives and deferred tax liability, in relation to the number of outstanding ordinary shares of class A and B. This key figure illustrates the owners’ (ordinary shares of class A and B) share of Net Asset Value. OUTSTANDING ORDINARY SHARES Registered shares, after deduction of repurchased shares. PROFIT FROM PROPERTY MANAGEMENT PER ORDINARY SHARE A OCH B Profit from property management after deduction of the dividend on preference shares and ordinary shares of class D and interest on hybrid bonds in relation to the average number of outstanding ordinary shares of class A and B. This key figure illustrates the owners’ (ordinary shares of class A and B) share of the period’s profit from property management. TOTAL NUMBER OF SHARES Registered shares, including repurchased shares. 1) Equity attributable to Parent Company’s shareholders. 2) Excluding site leasehold fees and exchange rate differ- ences.
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Calendar FINANCIAL REPORTS Year-end Report 2026 12 February 2027 Annual Report and Sustainability Report 2026 Week 12, 2027 Interim Report January–March 2027 22 April 2027 Annual General Meeting 2027 23 April 2027 DIVIDEND: RECORD DATES AND ANTICIPATED PAYMENT DATES Record date for dividend on ordinary shares of class A, B, D and preference shares 30 December 2026 Anticipated payment date for dividend on ordinary shares of class A, B, D and preference shares 7 January 2027 Record date for dividend on ordinary shares of class A, B, D and preference shares 31 March 2027 Anticipated payment date for dividend on ordinary shares of class A, B, D and preference shares 5 April 2027 Contact persons Rutger Arnhult, CEO, +46 70 458 24 70, rutger.arnhult@corem.se Sebastian Schlasberg, CEO of Property Operations, +46 70 923 90 19, sebastian.schlasberg@corem.se This information is information that Corem Property Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication through the agency of the contact person, set out above, at 8:00 a.m. CEST on 21 October 2026. Corem Property Group AB (publ), Box 56085, SE-102 17 Stockholm Visiting address: Riddargatan 13 C. Telephone: +46 10 482 70 00 Corporate ID number: 556463-9440, Registered office: Stockholm E-mail: info@corem.se, website: www.corem.se