ALM Equity AB (publ)

Hello and a warm welcome to ALM Equity's presentation of the first quarter of 2026. My name is Mattias Karlsson and I will be moderating today's broadcast. With me here in the studio I have CEO Thomas Karlsson and CFO John Sjölund. Welcome. Thank you, Mattias. Before we start, I would like to remind you that you can ask questions in the chat. We will take them in the common question time after the presentation. With that, I leave the floor to you, Thomas. Thank you so much, Mattias.

We will present the quarterly report for Q1 for ALM Equity. The agenda is that I will start by telling you about ALM in short and some key words. Then I will leave the word to John who will tell you about the results for the quarter and the market situation. And then we will finally tell you a little about our project Archimedes in Bromma where we We have started building and then we will talk about the way forward and our focus areas. Finally, we hope for some questions from Mattias. Yes, and Alm Equity is a property developer that has three business branches. Development, entrepreneurship and administration. We have a flexible business model where we develop housing both for rent and housing rights. And we have a focus on communication-near apartments, effective apartments. We have a model where we like to include capital partners in JV-cooperation. And beyond our own core business, we have two assets in the form of Klövern and Beskab. If you take a look at the key figures per business area, we currently have about 3,300 units in our development portfolio. Of these, 78% are finished building rights and the remaining 22% are under planning. In our entrepreneurship business, we have 1,344 homes under ongoing entrepreneurship, where all of them are for the time being for external customers. And we have an order stock of 1.9 billion. In administration, we have together in our JV cooperation in urban neighborhoods, 2,710 units in administration. In the beginning of the quarter, we had an rental rate of 95%. Essential events during the quarter. We completed the acquisition of the Stockholm housing in January and filled in our building rights portfolio. We have completed the certification of all our administrative assets, so that all of them are now certified according to BREEAM in Use. After the quarter, we have started building the first three part projects in our project in Bromma, which we call Archimedes. And we have also communicated and assigned an extended management of the company, where we have assigned our business management and our business and transaction manager.

Yes, if we look at the results of the quarter, we can note that we have an entrepreneurial business that has been stable for a long time, which has grown with a fairly even turnover and a good margin. And then we come from a period where we haven't had anything in production, in the development business itself. Now we have come up with the news that we are starting a project here after the end of the quarter, but in Q1 we have no support for the entrepreneurial business. carry everything and for us to get a positive movement result, we need a little help from that part. Then we can also note that there has been a bit of chaos in the environment that has affected the capital market and there we have negative value changes in our content during the quarter. Although we think that both Klöver and Beskav do a lot of good things, they are punished by what happens in the environment. In the long run, we see that they will create contributions, but we feel that we should not be dependent on that, but it is development and entrepreneurial activities and the administration that exists that should carry us. If we look at the balance sheet, we see that we still have a very good liquidity position. And then we are sitting with our assets, which will be a very good balance against the debt side. So we are in a good position to have the opportunity to start production projects, we have the opportunity to invest in more. more building rights as the situation is now. So the focus forward is to get more building rights into production. Looking at the market, we feel that the environmental factors for our business have slowly and surely improved over the past two years. There has been a lot of stabilization. The private market has strengthened slowly but surely until it started to collapse in Iran. Then there will be a little more insecurity among consumers who are going to buy housing for a longer period of time. And a little insecurity on that side. We hope that everything will calm down in the future, even if there is nothing we can advise on. We see that we are in a much better position than we were a year ago. Sweden has a strong economy and it is a strong general market for the rental rights we produce. It is a big demand among investors to buy newly produced rental properties in Stockholm, which is something we see as very positive for our side and that will facilitate the business forward.