Slides
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Interim report Q3 2026 22 October 2026 External
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61%21% 6% 5% 2% 2% 1% 1% A leading Nordic light industrial and logistics company 2 ~19.4 BSEK Property value Nasdaq Mid Cap B share 1,763 Tsqm Lettable area 1,397 MSEK Rental value 772 SEK SEK/sqm rental value 174 No. of properties (a) Excluding projects Lettable area per country Sweden Norway Denmark Netherlands Germany Finland Belgium Poland 63%13% 5% 9% 4% 3% 2% 1% 6.7% Net initial yield (a) 97.5% Economic occupancy rate 356 Tsqm Building rights portfolio 18.8 SEK NRV per share 51.9% Net LTV 8.6 years Lease duration Value per country Logistea in numbers Q3 2026 7.8% Implied yield (a) 1.2% Dividend yield
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Highlights Q1-Q3 2026 3 949 MSEK +19% Income 859 MSEK +18% NOI 486 MSEK +29% PFPM 0.95 SEK +23% PFPM per share 3.6 BSEK Acq. properties YTD 2026 23 MSEK Net lettings +31 % PFPM per share in earnings capacity YTD 380 MSEK Cash balance end of period
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0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0% 0.0 5000.0 10000.0 15000.0 20000.0 25000.0 Expansion timeline 4 Q4 2022 4.6 BSEK Q3 2026 19.4 BSEK July 2024 Merge with KMCP 2023 2024 2025 Future growth through: • Single asset acquisitions • Portfolio acquisitions • Capex investments in existing portfolio • Greenfield development of existing land bank • Mergers and acquisitions Avg. Interest Net initial yield Property value 2.5% Yield gap 6.7% 4.2% Property value development and net initial yield 2026
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Transactions signed in Q3 2026 5 Tampere & Oulu Purchase price: 145 MSEK Rental value: 11.6 MSEK Lettable area: 10,469 sq.m. WAULT: 7 yrs Closing: 20 Aug 2026 Tenant: Fully leased to Vianor Oy Stockholm Purchase price: 950 MSEK Rental value: 72.5 MSEK Lettable area: 54,000 sq.m. WAULT: 7 yrs Closing: 30 Sep 2026 Tenant: Fully leased to DSV Road AB Jylland Purchase price: 1,010 MSEK Rental value: 78.0 MSEK Lettable area: 131,000 sq.m. WAULT: 11 yrs Closing: 15 Oct 2026 Tenant: Fully leased to Velux A/S
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Closed Q1-Q3 Closing Q4 Signed Q4 Q1 Q4 Q4 Q1 Q2 Q2 Q3 Q3 Q3 Closed Q1 Q1 Q1 Q1 Q1 Q2 Q3 Q3 Q3 Q4 Deal Karlskrona Trollhättan Växjö EIG Oulu DSV Turku Vantaa Vianor DSV Stockholm Sub-total Velux Total Country Sweden Sweden Sweden Finland Sweden Finland Finland Finland Sweden Denmark Sqm 18,677 33,488 9,378 4,097 41,226 9,069 6,078 10,469 53,950 186,432 131,632 318,064 Purchase price 216 303 138 37 587 114 142 145 950 2,633 1,010 3,643 Rental income 17 22 11 5 42 11 11 12 72 202 78 280 WAULT 6 11 6 9 10 3 12 7 7 8 11 9 Acquisition yield 7.2% 7.3% PFPM/share 0.26 0.33 6 2026 YTD acquisitions 3.6 BSEK with an average yield of 7.3% FX conversion as of each acquisition date. WAULT and rental value at acquisition.
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LOCKRYD 732,000 sqm land area 474,000 sqm building rights 150 MW power from Vattenfall Milestones Mar 2026 Zoning plan gained legal force Done Option to acquire the land exercised Ongoing Purchase agreement discussions with the municipality Ongoing Discussions with potential tenants 2030-2031 150 MW power supply delivered Site plan Lockryd Industrial Park Vision
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Run rate earnings capacity development Amounts in MSEK 1 Oct 2025 1 Jan 2026 1 Apr 2026 1 Jul 2026 1 Oct 2026 Change (1 Oct 26 – 1 Oct 25) 22 Oct 2026 Investment properties Rental value 1,107 1,143 1,267 1,283 1,397 1,475 Vacancy -33 -36 -38 -38 -36 -36 Pass-through expenses 67 60 60 64 65 65 Property expenses -119 -120 -130 -136 -148 -148 Project properties Rental value 15 - - - - - Property expenses -1 - - - - - Net operating income 1,036 1,047 1,159 1,173 1,279 23% 1,357 Central administration -79 -83 -81 -81 -81 -81 Net financial income -367 -361 -406 -414 -445 -483 Profit from property management 590 603 672 678 753 28% 792 Profit from property management per share 1.16 1.18 1.32 1.33 1.47 27% 1.55 Profit from property management per share, earnings capacity 0.79 0.91 0.900.90 0.730.73 0.59 0.82 0.76 0.83 0.94 1.00 1.05 1.12 1.16 1.18 1.32 1.33 1.47 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 Q1 2022 Q2 Q3 Q4 Q1 2023 Q2 Q3 Q4 Q1 2024 Q2 Q3 Q4 Q1 2025 Q2 Q3 Q4 Q1 2026 Q2 Q3 Extensive growth in PFPM earnings per share • 1.47 SEK/share (1 Oct 2026) • +27% YoY • +31% YTD (incl. Velux) 8
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Capital allocation 9 Year-one effect, same equity Buyback within mandate (5%) Acquisitions Equity deployed, MSEK 335 335 PFPM/equity (ROE) 10% 13% Change in PFPM per share +4.2% +5.5% Input Reinvested cash flow widens the gap over time Increase in PFPM per share, % 4.7% 6.7% 7.5% 0% 2% 4% 6% 8% Base (Q2 2026) Year 1 Year 2 Year 3 Year 4 Year 5 Buyback (5%) Acquisitions Acquisitions incl. reinvestment • Continuously evaluating the best capital allocation provided current market conditions. • To illustrate, we calculated the impact on PFPM/share over time by either repurchasing shares or do asset acquisitions at current terms, with the mandate from AGM 2026 of 5%. • The day one effect motivates asset acquisitions, and the gap widens over time with reinvested cash flows. Recent acquisitions vs. buybacks • Buybacks: Buyback shares for 335 MSEK, corresponding to Logisteas current maximum buyback amount, at Q3 2026 VWAP (13.11 SEK/share). No additional cash flow generated year 2-5, PFPM only grows with CPI at 2%. Buybacks completed in 7 month given current liquidity and market regulations. • Acquisitions: Acquire assets with 335 MSEK of equity on same terms as last two acquisitions (7.4% initial yield, 3.9% interest rate). Generated net cash flow after tax, 2.3% amortisation and 30% dividend is reinvested at same terms with 50% LTV. CPI of 2%.
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~93% of exposure in the NordicsTenant diversification Share of rental income Strong tenants diversified across industries and regions 10 Sweden Norway Denmark Finland Netherlands Germany Belgium Poland 57% 23% 7% 6% 3% 2% 1% 1% 6.2% 7.1% 7.2% 7.7% 8.3% 8.1% 8.9% 10.0% NOI NIY WAULT 21% 8% 5% 5% 3%3% 52% 3% Tenant Other Home Brands AS Scana DSV NKT AS Insula AS BEWI ASA Nyköping Municipality Industry diversification Share of rental income Industry Industrial & Production Logistics Fish industry E-commerce Packaging Food Industry Other 29% 18% 17% 11% 9% 6% 5% 5% 8.1 9.0 8.1 8.6 6.2 14.4 14.6 14.7 Insulation & Construction
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High visibility in future rental income Key figures Long-term asset commitments reflected in contract structure 11 Net letting 2026 2027 2028 2029 2030 +2031 0.6% 2.4% 2.9% 7.2% 1.8% 85.0% Amounts in MSEK Jan-Sep Jul-Sep Okt-Sep Jan-Dec 2026 2025 2026 2025 25/26 2025 New leases 23 6 1 1 3 28 11 Renegotiations 7 - - 1 - 8 1 Terminations -7 -7 0 1 -2 -12 -12 Bankruptcies - -3 - 1 - - -3 Net letting 23 -4 1 1 1 24 -3 ~98% CPI-indexed leases ~97% Occupancy rate 8.6 Years wault Contractual rent maturity profile 7.1% Valuation yield
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Financials
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Earnings and profit +19% for the period +2.6% LFL portfolio (+2.2% excl. FX) +18% for the period +0.6% LFL portfolio (+0.1% excl. FX) Op. margin 90.2% (91.0), adj. 95.1% (96.6) LTM Income Estimates 329 (-0.6%) · FX effect +15 SEKm in period Estimates 176 (−1.7%) · FX effect +7 SEKm in period 247 248 263 288 285 301 322 327 713 849 1,002 1,046 1,084 1,136 1,196 1,235 0 200 400 600 800 1,000 1,200 0 100 200 300 400 500 600 700 Q4 '24 Q1 '25 Q2 Q3 Q4 Q1 '26 Q2 Q3 Quarter Last 12 months 215 216 241 269 251 266 294 299 600 738 890 941 977 1,027 1,081 1,110 0 200 400 600 800 1,000 1,200 0 100 200 300 400 500 600 700 Q4 '24 Q1 '25 Q2 Q3 Q4 Q1 '26 Q2 Q3 Quarter Last 12 months +29% for the period PFPM/share +21% for the period inc. non-recurring. PFPM/share +21% LTM inc. non-recurring Net operating income Profit from property mgmt 53 115 131 130 135 148 165 173 210 291 389 430 512 545 579 622 0 100 200 300 400 500 600 700 0 50 100 150 200 250 300 350 400 Q4 '24 Q1 '25 Q2 Q3 Q4 Q1 '26 Q2 Q3 Quarter Items affecting comparability Last 12 months Estimates 306 (-2.3%) · FX effect +15 SEKm in period 140 48 101 327 SEKm Q3 2026, +14% vs Q3 2025 299 SEKm Q3 2026, +11% vs Q3 2025 173 SEKm Q3 2026, +33% vs Q3 2025
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Key metricsDebt composition Access to a variety of funding sources 14 Credit maturity profile (MSEK) Loan-to-value 51.9% Secured loan-to-value 47.6% Equity ratio 41.3% Return on equity (LTM) 10.6% Interest maturity 1.9 y Capital maturity 2.5 y Hedge ratio 67.0% Net debt to EBITDA ratio 8.4 x Interest cover ratio LTM 2.7 x Average interest rate 4.2% EPRA NRV per share 18.8 SEK Number of shares 510.8m Bank Bond Other 147 3,507 4,801 132 1,014 850 19 0-1 yr 1-2 yr 2-3 yr 3-4 yr >4 yr 147 Currency Volume, MSEK Maturity, years Gross LTV, % Hedge ratio, % SEK 6,880 2.3 57.4 77.1 NOK 2,139 2.2 52.3 44.5 DKK 444 2.4 44.8 100.0 EUR 1,007 4.2 43.3 31.2 Total 10,470 2.5 54.0 67.0 Capital maturity 91.7% Bank 8.1% Bonds 0.2% Other 4,357 4,801 132 1,033
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Debt portfolio update • Continued strong lender demand from Nordic banks and growing interest from new financing partners. • SEK 3.1bn refinanced/renegotiated YTD at 48 bps lower average margins. • Ongoing focus on improving free cash flow through lower financing costs and active refinancing management. Fourth quarter 2025 vs. third quarter 2026 comparison 31.12.2025 30.09.2026 Debt portfolio Loan amount (SEKm) Margin % All in % Amort % Avg. maturity yrs Loan amount (SEKm) Margin % All in % Amort % Avg. maturity yrs Bank loans 7,264 1.7 % 4.3 % 3.0 % 2.8 9,601 1.5 % 4.2 % 2.4 % 2.6 Bond loans 850 2.8 % 4.7 % 0.0 % 2.2 850 2.8 % 4.7 % 0.0 % 1.4 Other loans 22 0.1 % 3.3 % 0.0 % 5.4 19 0.0 % 3.0 % 0.0 % 5.8 Total 8,136 1.8 % 4.4 % 2.7 % 2.8 10,470 1.6 % 4.2 % 2.2 % 2.5 Swap agreements 0.0 % 0.0 % Total incl. swaps 4.4 % 4.2 % Bank loan margin 1.7% → 1.5% 31 Dec 2025 vs 30 Sep 2026
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Financial targets and risk limitations >15% avg. growth in PFPM/share over five-year period >15% avg. growth in NRV/share over five-year period LTV <60% ICR >1.8x 18% 9% -5% -2% 18% 32% 58% 54% 41% 33% 24% 21% -30% -15% 0% 15% 30% 45% 60% 75% 0.0 0.2 0.4 0.6 0.8 1.0 1.2 1.4 Q4 '23 Q1 '24 Q2 Q3 Q4 Q1 '25 Q2 Q3 Q4 Q1 '26 Q2 Q3 Last 12 months, SEK* Annual growth, % Financial target, % -21% -15% -14% 13% 16% 11% 14% 10% 8% 14% 11% 14% -30% -15% 0% 15% 30% 45% 60% 75% 5.0 7.0 9.0 11.0 13.0 15.0 17.0 19.0 21.0 Q4 '23 Q1 '24 Q2 Q3 Q4 Q1 '25 Q2 Q3 Q4 Q1 '26 Q2 Q3 NRV per share, SEK Annual growth, % Financial target, % 45.5 44.1 44.1 48.5 48.1 48.3 48.4 48.0 48.4 50.6 50.2 51.9 30 35 40 45 50 55 60 65 70 Q4 '23 Q1 '24 Q2 Q3 Q4 Q1 '25 Q2 Q3 Q4 Q1 '26 Q2 Q3 Loan-to-value, % Financial risk limitation, % 1.9 2.0 2.0 2.0 2.1 2.2 2.3 2.4 2.6 2.6 2.6 2.7 0.0 0.5 1.0 1.5 2.0 2.5 3.0 Q4 '23 Q1 '24 Q2 Q3 Q4 Q1 '25 Q2 Q3 Q4 Q1 '26 Q2 Q3 Interest cover ratio, times Financial risk limitation, % *Adjusted for one-time effects Outcome 21% LTM YoY 5-year avg: 53% Outcome 14% YoY YoY excl. div.: 15% 5-yr avg: 12% 5-yr avg excl. div.: 12% Outcome 51.9% Q3 2026 Limit: <60% Outcome 2.7x LTM, Q3 2026 Limit: >1.8x
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Outlook
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18 We are well positioned to continue executing on our strategy Record period with 3.6 bn transacted and net letting of 23 million SEK Reached 20 bn SEK in property value of which 1 bn SEK in Finland and 2 bn SEK in Denmark Entered the Stockholm market with fully leased cross-docked terminal in Spånga
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Q&A
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Appendix
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Consolidated income statement MSEK Jan-Sept 2026 Jan-Sept 2025 Comment Total income 949 798 2.6% Like-for-like excl. rent supplements, 2.2% excl. currency effects Property costs -90 -73 16.6% Like-for-like, 16.5% excl. currency effects Net operating income 859 725 0.6% Like-for-like, 0.1% excl. currency effects Central administration -60 -75 Net financial income -313 -274 4.2% interest (4.6) Profit from property mgmt 486 376 0.95 SEK/share (0.77) Changes in value Unrealised property value 426 485 7.1% valuation yield (7.3) Realised property value 4 0 Derivatives 65 -14 Goodwill -3 - Deferred tax -146 -149 Actual tax -63 -31 Profit after tax 769 667 1.51 SEK/share (1.36) 21
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Consolidated balance statement MSEK Sep 2026 Dec 2025 Comment Goodwill 1,163 1,025 Property value 19,387 10,827 sek/sqm 15,729 9,742 sek/sqm Derivatives 117 35 Other assets and receivables 482 210 Cash and bank balances 380 485 Total assets 21,529 17,484 Equity 8,888 7,854 EPRA NRV 18.8 SEK/share (16.6) Deferred tax 1,464 1,204 Interest-bearing debt 10,435 51.9% LTV 8,102 48.4% LTV Derivatives 32 18 Other liabilities 710 306 Equity and liabilities 21,529 17,484 22
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Ownership and share performance • Logistea has a strong ownership base with extensive industry experience • Logistea was listed on Nasdaq First North in 2007 and later Nasdaq Stockholm in 2010. The company has been on Mid Cap since 2022 • Three employee option programs are active with subscription prices of SEK 16.7, 17.5 and 16.4 per share, respectively Share price performance Largest owners 0 10 20 30 40 50 60 70 9 10 11 12 13 14 15 16 17 18 19 Turnover (RHS) Carnegie Real Estate Index LOGI B SEK Average daily turnover L30D, MSEK Source: Nasdaq, Modular Finance and shareholders as of 30 September 2026 Name LOGI B Capital, % Votes, % 1 Nordika 73,628,370 14.41 14.41 2 Rutger Arnhult 55,965,000 10.96 10.96 3 Länsförsäkringar Fonder 49,992,946 9.79 9.79 4 Fourth Swedish National Pension Fund 46,541,925 9.11 9.11 5 Corvi AS 19,210,328 3.76 3.76 6 Handelsbanken Fonder 17,312,969 3.39 3.39 7 Third Swedish National Pension Fund 13,620,000 2.67 2.67 8 Alcur Fonder 13,090,482 2.56 2.56 9 DWS Investments 11,788,724 2.31 2.31 10 Carnegie Fonder 9,748,901 1.91 1.91 Total top 10 310,899,645 60.87 60.87 Management 2,976,977 0.58 0.58 Other 196,923,294 38.55 38.55 Total number of owners 11,716 Total number of shares 510,799,916
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End