Slides
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2 Today’s presenters Fredrik Mässing CEO Martin Lindqvist CFO
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Stämpeln 1, Sollentuna 1 Business update Agenda 2 Financial update 3 Q&A
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4 Q3 2026 summary – earnings capacity doubled since IPO Rental income developmentHighlights Earnings capacity doubled since IPO Grocery now 50% of portfolio EPRA NRV per share CAGR since IPO 14% Construction starts totaling SEK 197 million in Q3 Rental income SEK 181 (123) million, an increase of 48% Net operating income SEK 156 (109) million, an increase of 43% Profit from property management amounted to SEK 78 (61) million, up 28% Property yield compression of 23 bps vs. Q2 WAULT 8.0 years, 0.3 yrs vs. Q2 up from acquisitions Net letting SEK 11 million in the quarter, excluding the effect of NRG Pizza bankruptcy Occupancy rate of 97.6 percent, 1 percentage point lower than Q2 due to NRG Pizza bankruptcy Buy-back programme increased to SEK 140 million SEK 12.5bn Property market value 180 Number of properties 8.0 years WAULT 520k sqm Lettable area 97.6% Economic occupancy rate SEK 0.8bn Book value of projects 29k sqm Lettable area of ongoing projects 6.25% Valuation yield Key figures SEKm +48% 393 492 629 123 181 2024FY 2025FY 2026LTM Q3'25 Q3'26
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5 Tenants and lease maturity development– WAULT of 8.0 years Lease maturity structure – 88% of leases mature 2030 and beyond Notes: 1) Including EV charging stations and ongoing projects. GD = Groceries and Daily goods Tenant base – including ongoing projects WAULT: 8.0 years Top 10 largest tenants1 Company Category Rental value SEKm % GD 125 15% GD 111 13% GD 94 11% Discount 53 6% Discount 49 6% QSR 21 2% Discount 21 2% QSR 17 2% GD 17 2% Discount 16 2% Top 10 524 61% Other 329 39% Total 853 100% Rental income split 50% 26% 17% 7% Groceries and Daily goods Discount QSR & Charging Other 1% 4% 3% 4% 9% 9% 12% 7% 5% 46% 2026 2027 2028 2029 2030 2031 2032 2033 2034 >=2035
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Property portfolio – yield compression 23 bps vs. Q2 6 Property portfolio Changes in the property portfolio (Sep 26 vs. Dec 25) SEKm Property value per geography, SEKm Property value per type, SEKm Changes in the property portfolio Sep-26 Dec-25 Investment properties Fair value, opening balance 9 631 7 273 Acquisitions 1 451 1 820 Divestments -100 -184 Investments in held properties 708 598 Unrealised changes in value 600 232 Currency effect 210 -108 Fair value, closing balance 12 501 9 631 9 631 12 501 +1 451 -100 +708 +600 +210 Fair value, opening balance Acquisitions Divestments Investments in held properties Unrealised changes in value Currency effect Fair value, closing balance Sweden 7 607 Denmark 2 212 Finland 2 681 Property 11 692 Project properties 809 Property portfolio Letting area, sqm Property value, SEKm Property value, SEK/sqm Rental value, SEKm Rental value, SEK/sqm Occupancy rate, economic, % Sweden 326 016 7 607 23 334 516 1 583 96% Denmark 75 182 2 212 29 423 146 1 945 100% Finland 118 509 2 681 22 626 191 1 608 100% Investment properties, total 519 706 12 501 853 98% Property 490 588 11 692 23 832 795 1 620 98% Project properties 29 118 809 27 783 58 1 991 100% Investment properties, total 519 706 12 501 853 98%
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Rental value NOI Total investment Remaining investment WAULT, years Flahult 21:39 Sweden Jönköping QSR 2027 Q2 790 4,1 4,3 62 38 19 Högalund 3 Sweden Värnamo QSR 2027 Q2 363 2,4 2,4 28 21 16 Motorn 3 Sweden Karlskrona QSR 2027 Q2 828 4,1 4,0 62 52 20 Kassen 2 Sweden Umeå QSR 2027 Q1 413 1,7 1,6 22 15 20 Brillinge 11:1 Sweden Uppsala GD 2027 Q3 1 858 5,4 5,4 81 42 15 Tierp 4:223 Sweden Tierp GD/Discount/QSR 2027 Q3 7 452 10,6 10,0 133 98 12 Graniten 6 Sweden Strängnäs QSR 2027 Q2 265 1,6 1,6 25 22 19 Tuna 3:9 Sweden Sandviken QSR 2027 Q2 265 1,6 1,6 21 19 20 10p Måbjerg Holstebro Denmark Holstebro Discount/QSR 2026 Q4 7 073 11,5 10,8 128 12 15 6i, Øverup By Denmark Næstved GD/Discount 2027 Q3 5 200 9,8 9,3 126 65 10 Finsenvej 1E 7430 Ikast Denmark Ikast QSR 2027 Q1 280 2,0 1,9 25 24 15 Total 24 787 54,7 52,8 714 410 15 Estimations, SEKm Property name / Location Country Municipality Category Estimated completion NLA, sqm 7 Eleven ongoing projects with 7.4% avg YoC Ongoing projects Discount = Discount; GD = Groceries and Daily goods; QSR = QSR & Charging
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8 Construction Starts – Q4 2026 to Q4 2027 Planned projects Category Municipality NLA, sqm Investment (Msek) Building rights Q3 26 Q4 26 Q1 27 Q2 27 Q3 27 Q4 27 Q1 28 Q2 28 Q3 28 Q4 28 QSR & Charging Ikast-Brande, DK 280 Started Q3 QSR & Charging Strängnäs, SE 265 Started Q3 x QSR & Charging Sandviken, SE 265 Started Q3 x Groceries & Daily goods, Discount Næstved, DK 5 200 Started Q3 x Battery storage Huddinge, SE N/A 25 x QSR & Charging Laholm, SE 265 23 x QSR & Charging Borås, SE 300 21 Groceries & Daily goods Torsby, SE 1 916 44 QSR & Charging Vejen, DK 760 64 Groceries & Daily goods Malmköping, SE 1 279 32 Groceries & Daily goods, Discount Osby, SE 5 888 85 Groceries & Daily goods Simrishamn, SE 2 111 48 Groceries & Daily goods Stege, DK 1 232 35 Groceries & Daily goods Hellerup, DK 1 200 47 Discount, QSR Oskarshamn, SE 3 610 66 Groceries & Daily goods Ljusdal, SE 3 000 54 Groceries & Daily goods Kerteminde, DK 1 200 53 Groceries & Daily goods Ronneby, SE 3 350 61 Groceries & Daily goods Laholm, SE 3 270 57 717 = Construction Start = Store Opening
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Shareholders as of Sep 30th 9 Prisma Properties holds 1,416,914 treasury shares (0.9%) Prisma Properties key employees hold 2.3% Shareholders # shares % Alma Property Partners II 57 711 693 35,1% Alma Property Partners I 33 169 325 20,2% Per Arwidsson and related parties 14 913 642 9,1% Capital Group 10 058 229 6,1% Bonnier Fastigheter Invest AB 8 807 382 5,4% Länsförsäkringar Fonder 4 691 998 2,9% Swedbank Försäkring 4 383 318 2,7% Case Kapitalförvaltning 3 423 530 2,1% ODIN 3 414 131 2,1% Alcur Fonder 2 035 836 1,2% Other owners incl. treasury shares 21 912 454 13,3% Total 164 521 538 100%
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Stämpeln 1, Sollentuna Agenda 3 Q&A 2 Financial update 1 Business update
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Income – growing rental income on the back of completed projects, acquisitions and CPI adjustments 11 Rental income excl other income Net operating income & surplus ratio Income from property management, adjusted*) SEKmSEKm SEKm +48% +43% +28% Rental income growth attributable to project completions, acquisitions and CPI indexation *) 2024 FY excluding items affecting comparability and exchange rate effects 393 492 629 123 181 2024FY 2025FY 2026LTM Q3'25 Q3'26 344 421 548 109 156 88% 86% 87% 89% 86% 2024FY 2025FY 2026LTM Q3'25 Q3'26 156 221 283 61 78 2024FY 2025FY 2026LTM Q3'25 Q3'26
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12 Capital structure – stable financial position Credit facilities and interest rate term structure as of 30th Sep 2026 Comments Interest coverage ratio is calculated as profit from property management plus net financial items, divided by net financial items, on a rolling twelve-month basis Total interest-bearing liabilities on the balance sheet include accrued arrangement fees, which explains the discrepancy between table and balance sheet Average interest rate is based on current interest rates in the debt portfolio, excluding cost of allocated arrangement fees and land lease cost. Due to a systematic calculation error, the average interest rate of the swap portfolio was understated from Q4 2025 through Q2 2026. See report for details. No impact other than in that table. Selected metrics as of 30th Sep 2026 55% Gross LTV 51% Net LTV 42% Equity ratio 2.3x Interest coverage ratio 4.4 Debt maturity, years 2.4 Average period of interest, years SEK M 6,823 4.17% Average interest rate 22% 27%30% 22% Swedbank Nordea Danske Bank Bonds Maturity SEKm Share % SEKm Share % SEKm Market value Interest % Within 1 year 2 697 40 - - 570 2- 2,77 1-2 years 500 7 1 639 24 500 1 2,70 2-3 years 835 12 3 274 48 835 6 2,72 3-4 years 1 070 16 1 107 16 1 070 21 2,49 4-5 years 533 8 - - 533 13 2,70 5-6 years 961 14 - - 961 35 2,63 6-7 years - - - - - - - 7-8 years 227 3 - - 227 18 2,32 >8 years - - 803 12 - - - Total / average 6 823 100 6 823 100 4 696 91 2,63 Interest Credit Interest Rate (Swaps)
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13 Earnings capacity incl. completed transactions on Oct1st Current earnings capacity Comments The current earnings capacity is not a forecast and should only be considered as a theoretical snapshot as of the date of the current earnings capacity Rental income: based on the contracted rental income of the property portfolio (standing assets) on a twelve-month basis as of the date of the current earnings capacity, net of initial discounts Property costs: assessed operating expenses, maintenance and property tax on a twelve- month basis Project and asset management and administration includes inhouse and outsourced asset management and general property administration on a twelve-month basis Central administration: organisation as per 1st Oct 2026 annualised, excluding extraordinary costs Financial net: based on interest-bearing liabilities and Prisma’s average interest rate including interest hedging as of the date of the current earnings capacity, including accrued arrangement fees and excluding interest costs to be charged to projects. Interest income of 1.6% is included in the Earnings Capacity and the cash balance is assumed constant. Key metrics Income from property management per share: income from property management attributable to parent company shareholders in relation to the number of shares outstanding Surplus ratio: net operating income in relation to rental income Property yield, adjusted: net operating income excluding property admin and excluding rental rebates, in relation to property value excluding projects Forward-looking earnings capacity: A simplified calculation based on projects started to date and acquisitions announced to date. Projects that have not been started and acquisitions that have not been formally announced are not included in the calculation. 1st Oct 26 Rental value 789 Rent discounts -17 Rental income 772 Net property costs -35 NOI excl. property admin 737 Project and asset management and administration -36 NOI incl. property admin 701 Central admin -46 Financial net -275 Income from property management 380 No. of shares end-of-period, million 163,1 Income from property management per share, SEK 2,33 Surplus Ratio 91% Property Yield, adjusted 6,4% SEK million 1,31 1,45 1,60 1,66 1,85 1,96 2,11 2,33 2,48 2,54 2,58 2,70 0,80 1,00 1,20 1,40 1,60 1,80 2,00 2,20 2,40 2,60 2,80 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Q4 26 Q1 27 Q2 27 Q3 27 Holstebro, Umeå, Mariestad, Lahti, Ikast Jönköping, Karlskrona, Sandviken, Strängnäs, Uppsala, Tierp, Pietarsaari, Naestved SEK/share
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Stämpeln 1, Sollentuna Agenda 1 Business update 3 Q&A 2 Financial update
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15 Q&A