Page 1

XPandox A quarter of strong recovery July - September 2021 • Revenue from Property Management amounted to MSEK 652 ( 630 ) . For comparable units the increase was 11 percent , adjusted for currency effects TM • Net operating income from Property Management amounted to MSEK 553 ( 531 ) . For comparable units the increase was 15 percent , adjusted for currency effects • Net operating income from Operator Activities amounted to MSEK 22 ( -39 ) • EBITDA amounted to MSEK 550 ( 456 ) • Cash earnings amounted to MSEK 270 ( 194 ) • Cash earnings per share amounted to SEK 1.45 ( 1.06 ) • Profit for the period amounted to MSEK 321 ( -103 ) , including unrealised changes in value for Investment Properties of MSEK -9 Earnings per share amounted to SEK 1.73 ( -0.56 ) • Per 30 September 2021 , cash and cash equivalents and unutilised credit facilities amounted to MSEK 4,202 , compared with MSEK 4,377 per 30 June 2021 • On 23 August , Pandox board of directors appointed Liia Nõu as CEO . Liia Nõu has been Pandox's CFO since 2007 and acting CEO since 21 May 2021 • Per 31 August , Maritim Hotel Nürnberg was reclassified to Operator Activities Financial summary MSEK Revenue Property Management Net operating income Property Management Net operating income Operator Activities EBITDA Profit for the period Earnings per share , SEK¹ ) Cash earnings Cash earnings per share , SEK¹ ) Key data Market value properties Net interest - bearing debt Loan to value net , % Interest cover ratio , times EPRA NRV per share , SEK¹ ) WAULT ( Investment Properties ) , ycars RevPAR ( Operator Activities ) for comparable units at comparable exchange rates , SEK 2021 652 553 22 550 321 1.73 270 1.45 Pandox - Interim report , January - September 2021 2.5 400 January - September 2021 Revenue from Property Management amounted to MSEK 1,774 ( 1,829 ) . For comparable units , the increase was 2 percent , adjusted for currency effects ● • Net operating income from Property Management amounted to MSEK 1,485 ( 1,540 ) . For comparable units the increase was 3 percent , adjusted for currency effects Net operating income from Operator Activities amounted to MSEK -48 ( -104 ) • EBITDA amounted to MSEK 1,347 ( 1,321 ) • Cash earnings amounted to MSEK 517 ( 531 ) Cash earnings per share amounted to SEK 2.81 ( 2.91 ) • Profit for the period amounted to MSEK 351 ( -1,103 ) , including unrealised changes in value for Investment Properties of MSEK -465 Earnings per share amounted to SEK 1.91 ( -5.98 ) ● Jul - Sep 2020 630 531 -39 456 -103 -0.56 194 1.06 | | 2,2 A % 3 4 208 Interim report January - September 2021 n.a 21 n.a n.a 39 37 n.a ।। 92 2021 1,774 1,485 -48 1,347 351 1.91 517 2.81 61,255 30,387 49.6 2.0 171.49 14.2 Jan - Sep 228 2020 1,829 1,540 -104 1,321 -1,103 -5.98 531 2.91 62,022 30,056 48.5 2,1 175.33 14.9 1 % -3 -4 268 n.a 2 n.a n.a -3 м -3 226 ¹ ) Based on total number of shares for balance sheet items and weighted number for shares for profit and loss items . For information about number of shares see page 19 . See note 3 on page 27 for a summary of reclassifications , acquisitions and divestments . For complete definitions , see page 29 . -1 1 n.a n.a n.a Full - year 2020 2,399 2,018 -168 1,699 -1,408 -7.61 660 3.64 -15 59,542 29,007 48.7 2,0 167.60 14.6 1 ( 30 )