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Hemnet Group’s Interim Report Q3 2026 Q3 2026 ⎸22 October 2026 Hemnet Group AB (publ)
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Hemnet Group’s Interim Report Q3 2026 Jonas Gustafsson · CEO Q3 2026 Highlights
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Summary of Q3 2026 Highlights Q3 2026 Highlights A strategic pivot - for full market coverage and leadership ● New strategic initiatives announced during Q3, including new free listing tiers, an updated compensation model and a cost savings program ● Significant user experience improvements launched during October, including one-list search experience ● Net sales decreased by -17.8% in Q3, driven by lower listing volumes paired with a timing shift in revenue recognition from ‘Sell first, pay later’ (“SFPL”) ● Published listings amounted to 36.2k, down by 13.0%, while paid listings amounted to 29.3k, the difference in paid and published listings explained by SFPL and under-the-radar listings ● EBITDA margin of 47.8%, 5.5 pp lower year-on-year due to declining listing volumes 3 ARPL growth 9.2% (SEK 8,986) Net sales growth -17.8% (SEK 301.5m) EBITDA margin 47.8% (SEK 144.1m) Key financials
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Net sales and EBITDA impacted by reduced listing volumes and revenue recognition timing Net Sales | Q3 2026 (SEK) 301.5M Net sales growth | YoY (%) -17.8% -17.8% EBITDA | Q3 2026 (SEK) 144.1M EBITDA Margin | Q3 2026 (%) 47.8% -26.3% Q3 2026 Highlights4
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Property market commentary ● Published listings decreased by 13.0% in Q3 and by 20.5% on an L TM basis ● Average L TM listing duration on Hemnet in Q3’26 increased to 65 days (up from 64 days in Q2’26 and 52 days in Q3’25) ● Signs of a property market that is gaining momentum as improved economic conditions accelerate transactions, push apartment prices to record highs, and reduce inventory levels Source: Hemnet data (excludes new development listings published under subscription packages) Published listings per quarter (Y/Y change) A more active property market Q3 2026 Highlights5
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Introducing free entry-level listing formats Hemnet introduces free entry-level listing formats to gather the complete public market inventory into a single, user-centered search experience, while simplifying the paid package structure A new compensation model Hemnet is updating its compensation model for real estate agent offices, introducing a simplified and more predictable structure for commission Streamlining operations for speed and agility Hemnet is streamlining its operations to build a faster, leaner and more agile organization, expected to yield annualized cost savings of approximately SEK 80–85 million Taking decisive action to build a better Hemnet for buyers, sellers and agents 6 Q3 2026 Highlights
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>2m Structured proprietary data from >2m listings Hemnet is uniquely positioned in the Swedish property market 25+ Years of brand and industry leadership * Hemnet’s average monthly sessions across all platforms during Jan-June 2026, competitor data sourced from booli.se/annonsering ** Source: Nepa 2026 97% Brand awareness among property sellers** >2x More sessions than the #2 platform* 7 Q3 2026 Highlights
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8 Expanding our platform to gather all publicly available listings into a single, unified search experience Q3 2026 Highlights Bas Premium Max Under-the-radar Free tier ● Hemnet is introducing new entry-level listing formats: a free entry-level option for real estate agents launched on 20 October, paired with automatically aggregated listings within short ● With all listings available on Hemnet, we reinforce our position as Sweden’s leading property portal, simplifying the search process for home seekers while maximizing visibility for sellers and agents ● Hemnet has also simplified and strengthened the package structure as Hemnet Bas has replaced Hemnet Plus, incorporating all features and visibility of Plus in Bas, at the Bas price point ● Product design is steered to create the best possible buyer experience while delivering clear upgrade incentives for high-intent sellers ● Just as today, upgrading to a paid marketing package will remain the most effective way to reach Hemnet’s full buyer audience, create maximum interest, and ensure a successful transaction Aggregated listing Replaces Plus New tier New tier Free Paid Launched20 Oct Launch next week
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Improving Hemnet with a new and complete search experience 9 Moving from Moving to ~55% of published listings available on Hemnet* All publicly available listings on Hemnet The #1 property platform in Sweden on traffic and reach The #1 property platform in Sweden on traffic, reach and supply A platform for high-intent sellers A single-source platform for all new properties that come to market, with high-intent sellers front-and-center Strong partnerships with agents and aligned incentives The go-to platform for all advertising partners with growing reach and impressions Further strengthened partnerships with agents and aligned incentives A strong platform for advertising partners The world’s best user experience A superior user experience * Based on ~54k published listings on Hemnet.se per 28 September, 2026 Q3 2026 Highlights
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10 ● New operating model better geared for speed and commercial success ○ Faster and leaner organization with fewer decision layers ○ Ambition to substantially increase output and transform Hemnet’s platform to provide the best user experience for buyers, sellers and agents ● Operational efficiencies through AI visible across the organization ○ ~85% of all code is now written with AI and the efficiency gains are enabling us to do more with a smaller team ● Appointment of Marcus Hartwall as new Chief Commercial Officer with responsibility for Hemnet’s sales and partner organization ○ Extensive international experience from scaling digital marketplaces, most recently from Daft.ie, Ireland’s leading property platform ○ Responsible for deepening partnerships with agents and help them fully leverage the value of Hemnet’s paid products and services Q3 2026 Highlights Strengthening the team and establishing a new operating model
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11 Q3 2026 Highlights Improving the buyer and seller experience through continuous product improvements ● A unified one-list search experience that makes it easier for buyers to find homes and connect with agents, while increasing visibility for sellers, with promising initial results: ○ Share of users clicking on ‘Kommande’ listings up by ~90% in first week ○ Saved ‘Kommande’ listings up by ~50% and leads to brokers up by ~30% on ‘Kommande’ in the first week ● New updated design on real estate agent products and contact forms that enhances user experience and further streamlines leads generation on the platform ● Continuous platform innovation to further strengthen the buyer experience, including a new and improved search results layout and updated filters ● External listings live across platforms next week and the new compensation model live on 1 November ● We are now delivering on our most ambitious product enhancement pipeline to date to drive a superior experience for buyers, sellers and agents +30% more leads from ‘Kommande’ listings
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Hemnet Group’s Interim Report Q3 2026 Q3 2026 Financials Peter Messner · CFO 12
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Financial summary Q3 2026 -17.8% year-on-year +9.2% year-on-year 47.8% SEK 301.5m Net sales growth Paid ARPL growth EBITDA margin SEK 8,986 SEK 144.1m 1.3x Leverage (LTM) +0.8x vs. Q3 25 -31.1% year-on-year Free cash flow (LTM) SEK 556.5m 174 Headcount +9 vs. Q3 25 -13.0% year-on-year Published listings 36.2k listings 13 Q3 2026 Financials
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● The bank integration product continues to do well, while listing volumes negatively impacts display sales Property sellers SEK 248.7m (-20%) Real estate agents SEK 25.1m (-5%) Property developers SEK 12.6m (+2%) Advertisers SEK 15.1m (-3%) B2B B2C ● Revenues from real estate agents impacted by lower listing volumes which negatively impacts display sales ● Paid listings and net sales were continuously impacted by the launch of ‘Sell first, pay later’, which means that revenue is recognised only when the listing is sold ● Revenues from property developers improved slightly, new annual subscription packages showing strong growth while offset by lower display sales B2C revenues impacted by ‘Sell first, pay later’, B2B revenues down by 3% year-on-year 14 Q3 2026 Financials
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Net sales Net sales decreased by -17.8% driven by lower listing volumes paired with a timing shift in revenue recognition from ‘Sell first, pay later’ Compensation to real estate agents Agent compensation decreased in line with decline in revenues from property sellers Other external expenses Other external expenses decreased driven mainly by lower costs for marketing and consultants Personnel costs Staff costs increased by 21.7% year-on-year, where the comparison period was positively impacted by a bonus accrual reversal Other Slightly higher capitalised development expenditure for own staff EBITDA development reflects lower listing volumes and 'Sell first, pay later' transition A B C D E EBITDA bridge Y/Y | SEK million, Y/Y change Key drivers 15 Q3 2026 Financials
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Note: definitions of alternative key ratios can be found in the financial report LTM FCF & cash conversion SEK million, percent Share buybacks SEK million, thousand shares Net debt & leverage SEK million, leverage x Strong cash conversion, while lower EBITDA and resulting FCF increase leverage ratio 16 Q3 2026 Financials
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17 New compensation model from 1 November 2026 Four key components 1. Administration fee: Continued 600 SEK admin fee per published paid listing, as per general cooperation agreements with real-estate agent offices. 2. Commission: 20-30% of revenue generated per paid listing, depending on chosen package. 3. Compensation cap: Maximum 4,000 SEK of compensation per published paid listing. 4. Recommendation: In order to receive any commission, an agent recommendation for a paid package is required. 20% commission 30% commission 30% commission A new and simplified compensation model that is better aligned with Hemnet’s new listing structure Bas Premium Max Admin fee = 600 SEK per published paid listing Commission cap = 4,000 SEK per listing, incl. admin fee Q3 2026 Financials
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80-85m SEK of annualized cost savings as compared to the Q2 2026 run-rate Operational streamlining for long-term growth: ● Hemnet is executing an organizational transformation to create a faster, leaner and more agile organization, unlocking further growth potential and supporting the new strategic phase ● By streamlining operations and modernizing workflows, Hemnet will be better positioned to accelerate product innovation and improve customer experience Update on organizational restructuring: ● Union and individual negotiations were carried out during October 2026, and the implementation of the restructuring is ongoing during the fourth quarter ● The restructuring program will deliver annualized cost savings of 80-85 million SEK as compared to the expenses run-rate as of Q2 2026, with full run-rate effect on costs after Q1 2027 ● The program will reduce the number of employees from 184 at the end of Q2 2026 to ~115 employees ● We expect one-time restructuring charges of 36-37 million SEK to be recognized as an ‘item affecting comparability’ (IAC) in the fourth quarter 2026 Streamlining our operations to build a faster, leaner and more agile organization Q3 2026 Financials18
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Jonas Gustafsson · CEO Hemnet Group’s Interim Report Q3 2026 Q3 2026 Summary 19
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20 Q3 2026 Summary A new Hemnet is taking shape, built to win ● Net sales and paid listings in third quarter negatively impacted by ‘Sell first, pay later’, where revenues are recognized upon property sale rather than over the listing period ● We are taking decisive steps to restore Hemnet as the most efficient and powerful property portal for buyers, sellers and agents ● We are strengthening our market position through a combination of traffic leadership and listings supply leadership ● By combining our scale with a complete market offering, a more agile and efficient organization, and strengthened commercial leadership, we unlock new opportunities for Hemnet ● We are delivering on our most ambitious product enhancement pipeline to date to drive a superior user experience ● A new Hemnet is taking shape, built to win
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Hemnet Group’s Interim Report Q3 2026 Questions & Answers 21
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13 Nov 2026 Net sales October 2026 14 Dec 2026 Net sales November 2026 28 Jan 2027 Year-end report 2026 27 Apr 2027 Q1 report 2027 Ludvig Segelmark Head of IR +46 702 50 14 40 ludvig.segelmark@hemnet.se IR ContactFinancial calendar Important links Corporate website: https://www.hemnetgroup.se/en/ Hemnet statistics: https://www.hemnet.se/statistik/finansiell-rapportering Media & subscription for press releases and regulatory updates: https://www.hemnetgroup.se/en/media/press-releases/ 22
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This presentation may contain forward-looking information and statements with respect to the financial condition, results of operation and business of Hemnet Group AB (publ) (the "Company"). Such forward-looking information and statements are based on current expectations, estimates and projections of the Company or assumptions based on information available to the Company. Although the Company believes that its expectations reflected in any such forward-looking information and statements are based upon reasonable assumptions, the Company can give no assurance that those expectations will be achieved. Several factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by information and statements in this presentation. Any forward-looking statements made during this presentation speak only as of the date of this presentation and the Company undertakes no obligation, other than as required by applicable law, to update any of them in light of new information or future events. Disclaimer 23