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How to change background image: • Right-click and select Format Background. • Under Fill, select Picture or texture fill. • Under Picture Source, select Insert. Q3 2026 presentation 27 October 2026 PUBLIC PROPERTY INVEST
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Hovedfarger Støttefarger Agenda 1. Highlights 2. Operations 3. Financial update 4. Summary and concluding remarks 5. Q&A Q3 2026 PRESENTATION
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Hovedfarger Støttefarger 861 682 582 332 884 743 655 387 887 761 692 404 Rental income Net operating income EBITDA Net income from property management Q1 26 Q2 26 Q3 26 3 Strong earnings and margin development since Socialco acquisition • Solid financial and operational results ‒ Q3 net income from property mgmt. per share of 0.43, up by 37 % since Q3-25 ‒ Gross letting of SEK 35 million, net letting of SEK 7.4 million ‒ Average portfolio WAULT increased to 7.0 yrs ‒ Finalised two new-built care properties, adding NOI of c. SEK 14.5 million ‒ Development portfolio progressing according to plan • Focus on growing CEPS and maximising shareholder return ‒ Announced acquisition of portfolio of six social infrastructure properties from SBB ‒ Ongoing share buy back program of up to SEK 400 million ‒ SEK 0.25 per share in quarterly dividends • Maintaining solid balance sheet, limited interest rate exposure ‒ Solid balance sheet, BBB+ rating ‒ Well diversified debt maturity structure, 67% fixed rate ‒ Avg interest rate down 12 bps since year-end 2025 H I G H L I G H T S Q 3 2 0 2 6 + 3 % + 12 % + 19 % + 22 % SEK mill
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Hovedfarger Støttefarger 4 853 # 2.3m sqm. 52.8bn SEK Properties Lettable area Gross asset value 3.6bn SEK 2.9bn SEK 2.6bn SEK Annualised run rate rental income Annualised run rate NOI Run rate EBITDA 84 % 93,5 % 7.0 years Government-backed leases Occupancy WAULT (incl. project portfolio) 5.7 % 9.9 X 49.1 % Net yield (management portfolio) Adj. Net Debt/EBITDA Loan to Value Portfolio highlights as of 30.09.2026 Unique social infrastructure platform across attractive Nordic markets SEK 52.8 bn (Gross asset value)
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Hovedfarger Støttefarger 5 Diversified portfolio of high-quality properties across the Nordics Elderly Care in Ängelholm, Sweden Elderly care in Uppsala, Sweden High School in Vänersborg, Sweden Police Station in Lillestrøm, Norway District Court in Lillehammer, Norway School/Pre-School in Helsinki, Finland Sara Kulturhus in Skellefteå, Sweden Elderly Care in Gothenburg, Sweden Elderly Care in Stockholm, Sweden Health care, Skåne, Sweden
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Hovedfarger Støttefarger 6 Government-backed income streams with demographic tailwinds ~50 % within elderly and healthcare segment Predominantly backed by public-sector tenants 84% 16% SEK 3.6bn Rental income 50%50% Elderly- and healthcare 50% SEK 52.8bn Portfolio value Selected tenants Note: 1. Eurostat – this analysis presents long-term population projections for the Nordics, and the EU. It includes a baseline forecast. Population pyramid in the Nordics 2025 and 20601 Children 0-19 years Adults 20-65 years Elderly Over 65 years old Men Women Men Women 2025 20601 5.6m 7.8m +40% 200k 100k 0 100k 200k 200k 100k 0 100k 200k 30 million28 million The Nordic elderly population (65+) is set to grow by +40% by 20602
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Hovedfarger Støttefarger Agenda 1. Highlights 2. Operations 3. Financial update 4. Summary and concluding remarks 5. Q&A Q3 2026 PRESENTATION
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Hovedfarger Støttefarger 8 Solid letting in the quarter Maturity profile – WAULT 6.8 yrs (7.0 yrs incl. projects) • Signed new and renewed leases in Q3 with: ‒ Annual rent of SEK 35 million ‒ 25,200 sqm • Net letting at SEK 7.4 million • Occupancy at 93.5 % • WAULT at 6.8 years, 7.0 years when including project portfolio • Two new lease contracts with Toyota Material Handling Sweden AB for 7,500 square meters in Falkenberg in Sweden. • New lease contract for 1,450 square meters with The Wellbeing Services County of South Ostrobothnia in Seinäjoki in Finland. • New lease contract for 705 square meters with Täsmä Työterveys Oy (Healthcare) in Vantaa, Finland Key events in the quarter Largest new and renewed lease contracts L E T T I N G A N D O C C U P A N C Y -9% -12% -11% -14% -9% -6% -6% -5% -5% -4% 100% -19% 0% 50% 100% Total < 1 year 1–2 years 2–3 years 3–4 years 4–5 years 5–6 years 6–7 years 7–8 years 8–9 years 9–10 years > 10 years
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Hovedfarger Støttefarger Kallinge 2, Stockholm Main tenant: Ersta Diakoni New-built elderly care home ➢ Acquisition of portfolio of six social infrastructure properties from SBB o Total lettable area: 63,400 sqm o Rental income: SEK 107 million (after completion of Pollux project) o Net Operating Income: SEK 76.1 million o Avg WAULT: 8.1 years Vitikka 1, Espoo Main tenant: Police Pollux 32, Karlskrona Main tenant: SAAB (ongoing refurbishment project) Gulbernahult 1, Karlskrona Land plot Gulbernahult 26, Karlskrona Main tenant: Karlskrona Municipality S:ta Gertrud 12, Gotland ➢ Total agreed property value: SEK 1.35 billion (3 % below book values as of 30.6) o Net property value of SEK 1.26 billion (- SEK 88 million in remaining project cost) o Transaction strengthening PPI balance sheet, ~ SEK 1 bn in new equity issued at PPI Q2 NAV o Closing around 4 November 2026 T R A N S A C T I O N S I N T H E Q U A R T E R Acquisition of six properties from SBB Social infrastructure portfolio acquired at net yield of 5.6 % 9
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Hovedfarger Støttefarger ✓ 75 care places ✓ Fully let to Attendo on 15 year lease ✓ 3,540 sqm ✓ 60 care places ✓ Fully let to Kototiimi on 15 year lease ✓ 2,270 sqm 10 Finalised two development projects in Finland Newbuilt care home, Helsinki region Newbuilt care home, Turku • Finalised two new-built care homes in the Hartela Care portfolio, acquired in November 2025 • Total project cost: EUR 21 million, NOI of EUR 1.3 million • Yield on cost 6.6 % P R O J E C T P O R T F O L I O
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Hovedfarger Støttefarger 11 Investing operational cash flow at attractive yields Net yield on invested capital paid and accounted for as interest income during construction period, all projects Net cash flow from operations (SEKm) Ongoing projects adding NOI of ~ EUR 8.8 million on completion P R O J E C T P O R T F O L I O 171 170 208 276 624 683 734 - 200 400 600 800 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
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Hovedfarger Støttefarger Agenda 1. Highlights 2. Operations 3. Financial update 4. Summary and concluding remarks 5. Q&A Q3 2026 PRESENTATION
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Hovedfarger Støttefarger EPRA NRV per shareNet income from property managementRental income and NOI Financial highlights 13 SEK million SEK per share EPRA NRV is calculated in accordance with the EPRA Best Practices Recommendations, adjusted to add back the dividend provision recognised as at period end. Comparative periods have been restated on a consistent basis. SEK million
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Hovedfarger Støttefarger 14 Profit and loss COMMENTS • Rental income of SEK 887 million, up by 0.3% since Q2. Other income of SEK21 million includes a one-off of SEK 14 million from early lease terminations in Finland. • Net operating income of SEK 761 million, up 2.4% since Q2 • Net administration expenses of SEK 69 million in Q3, net of property management fee of SEK 13 million. Q3 benefits from seasonally lower personnel cost accruals. • Net income from property management up by 4.4% to SEK 404 million • Net realised financials of SEK 288 million in Q3 • New EMTN bonds from Q2 carried interest for the full quarter • Established commercial paper program • Other financial expenses of SEK -179 million, mainly a net unrealised FX loss of SEK 147 million. This is more than offset by a SEK 617 million currency gain on foreign assets, recognised in OCI directly in equity. • Change in value of investment properties of negative SEK 133 million, reflecting small yield changes. Amounts in SEK million Q3 2026 Q2 2026 YTD 2026 YTD 2025 Rental income 887 884 2 632 663 Other income 21 4 29 2 Operating income 908 888 2 661 666 Property expenses (147) (145) (474) (52) Net operating income 761 743 2 187 614 Administration expenses (82) (105) (287) (74) Reimbursed property management fee 13 17 30 12 Interest income 27 23 67 46 Interest expenses (312) (278) (844) (289) Net interest income from interest rate derivatives (3) (14) (29) (4) Net income from property management 404 387 1 123 304 Other financial expenses (179) (243) (418) (32) Transaction and restructuring costs (14) (50) (71) - Changes in fair value of derivatives (27) 96 160 (19) Changes in fair value of investment properties (133) (222) (445) 276 Result from financial holdings and associated companies 4 5 9 - Profit (loss) before tax 55 (27) 358 530 Income tax expense (59) (32) (142) (116) Net profit (loss) (4) (59) 215 414 Total comprehensive income (loss) 613 (11) 1 261 246
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Hovedfarger Støttefarger COMMENTS • 100 % of portfolio valued externally on quarterly basis • Market value of Investment properties was SEK 52.8 billion, up SEK 1.5 billion q-o-q, driven by FX translation and investments • Management portfolio net yield currently at 5.7% • Interest-bearing debt of SEK 29.6 billion; SEK 27.7 billion net of cash Balance sheet Loan to Value 49.1% Net Debt / EBITDA* 9.9x * Run rate EBITDA inclusive projects under construction and ¾ of expected CPI adjustment 1 January ICR* 2.3 * Last 12 months
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Hovedfarger Støttefarger Strong liquidity position and diversified debt maturity structure Debt maturity structure as of 30.09.2026 COMMENTS • Strong liquidity position of SEK 7 billion, including SEK 5.1 billion in undrawn credit facilities and SEK 1.9 billion in cash • Well diversified maturity profile, with weighted average debt maturity of 4.7 yrs • Average interest rate reduced to 4.15 % from 4.17 % following the quarter's refinancing activity • Rated BBB+ with stable outlook by Fitch Bonds 84.5 % of debt · Bank loans 12.8 % · Commercial paper 2.8 % 780 1 301 4 532 3 399 5 666 3 926 5 666 3 602 768 70 1 693 1 301 4 532 3 399 9 268 3 975 5 666 2026 2027 2028 2029 2030 2031 2032 2033 Bonds Bank loans Commercial paper
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Hovedfarger Støttefarger Run rate figures are presented on a 12 months basis from period-end . For full definitions and methodology, refer to the Q3 2026 Quarterly Report published. Run rate as of 30.09.26 COMMENTS • Rental income based on rent roll as of 30.9.29, increased bySEK 66 million since last quarter • Property and administration cost base unchanged in local currency. • Net financials reflecting new financing in the quarter and the average portfolio interest rate as of 30.9.26. The proceeds have not yet been deployed, so the related income is not yet reflected in Run rate EBITDA. • Net income from property management (Cash Earnings) per share of SEK 1.58 - Adjusted for ongoing projects and CPI adj for 2027 SEK 1.74 per share • Net debt /EBITDA (adj) of 9.9 X 1) Run rate net debt is calculated as interest-bearing liabilities less cash and cash equivalents. 2) Adjusted for estimated EBITDA from projects scheduled for completion within approximately 12 months, and for three-quarters of the estimated CPI indexation of rents effective 1 January 2027.
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Hovedfarger Støttefarger Agenda 1. Highlights 2. Operations 3. Financial update 4. Summary and concluding remarks 5. Q&A Q3 2026 PRESENTATION
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Hovedfarger Støttefarger Q3 YTD 2026 Summary remarks Q3 Financial results • Net operating income of SEK 761 million in Q3, + 208 % since Q3 25, + 2 % since Q2 26 • Cash earnings (NIPM) per share of SEK 0.43 per share, + 37 % since Q3 25 and + 4 % since Q2 26 Capital structure • Solid balance sheet, BBB+ rating • Well diversified debt maturity structure, 67% fixed rate • Avg interest rate down 12 bps since year-end 2025 Leasing & development • Signed leases totaling SEK 35 million in Q3 • Finalised development of two new care properties in Q3 • Two major development projects on track for completion end 2026/early 2027 Capital allocation and shareholder returns • SEK 400 million share buy back program ongoing • SEK 1/share dividend approved, paid quarterly (SEK 0.25 per quarter) Growth and acquisitions Acqusition of portfolio of six social infrastructure properties • Adding NOI of SEK 76.1 million, Net yield of 5.6 % • Strengthening PPI balance sheet, c. 80 % of proceeds settled by issuing SEK 1 bn in new equity at NAV Large, Nordic social infrastructure platform • Steady, long term cash flows, 84 per cent backed by publicly funded tenants • Strong exposure to elderly & healthcare assets amid Nordic ageing-population growth
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Hovedfarger Støttefarger Agenda 1. Highlights 2. Operations 3. Financial update 4. Looking ahead 5. Summary and concluding remarks 6. Q&A Q3 2026 PRESENTATION