KlaraBo Sverige AB (publ)

Hello and a warm welcome to Klarbo's quarter presentation for the first quarter of 2026. Together with the company's CEO and CFO Magnus Nordholm, we will go through the quarter that has just ended. And just like in previous presentations, we will deal with questions such as the financial development of the company. In a summary of the portfolio, we highlight our values ​​in practice and conclude with a brief preview. After the presentation, there will be, as usual, the opportunity to ask questions via trade calculation in Teams. All presentation material will then be available on our website immediately after the session. The first quarter has been an eventful period where we have taken further steps operationally with the implementation of the exchange deal we announced at the end of 2025. We have also made a new transaction where we intend to leave non-strategic access. Vi har även refinansierat väsentliga delar av låneportföljen till attraktiva villkor, med innebär att vi under 2026 inte har några ytterligare låneförfall. Samt så har värdeskapandet i bolaget fortsatt med rotrenovering till avkastningsnivåer som är högre än tidigare. Parallellt med detta så fortsätter The noted real estate shares on the stock exchange are valued at large interest rates, which means that it has been attractive to buy more Klarabo shares. We have now reached a level where we have a total of 4.8% of the capital in our balance sheet. At the same time, we leave a quarter that has been significantly colder and snowier than the last few years, which negatively affects the operating net, since we as property owners and tenants stand for more of these operating costs in the properties, as well as for snow removal. More costs that the company cannot be compensated for in the short term, and thus the heavy result of this quarter. In addition, geopolitical uncertainty has increased further in the environment, which has had a direct effect on interest rates and energy prices. However, this has a long-term effect to be seen. Looking back at the operational, we note that we continue to maintain a stable root level with about 40 renovations carried out during the quarter. to an average yield cost of 9.3%, a level that is among the highest we have had so far. At the same time, the high demand for this product is maintained, as we see that the real purchase level is stable. This positively affects the net worth of our valuations and thus gives a good effect on the order of valuations in the result calculation, which then also increases our substance value. Increase in substance value is one of the key factors in the business when we look at the development of shareholder value and has increased by an entire 8% during the period. Additionally, we see advantages in short-term consideration of additional return on purchase when the share is dealing with a significant discount. We want to maintain the pace of the number of renovations when the drop-off levels are in the high 8%. as well as analyze and evaluate further opportunities to consolidate and optimize the portfolio as we have done in the last six months.

Despite a quarter with both colder climates than 2025 and significantly increased tax-rewarded costs such as heat and electricity, the operating results increased by about 2.6%. The rents increased by 7.6% compared to the previous year due to a larger property portfolio and rent increases from both renovations and general rental deals. The costs have been affected by the cold start of the year and the increase in tax-related costs. They increased by a total of about 12% compared to the previous year. Financiella kostnader som förväntades stiga under kvartalet mot bakgrund av att utökningen av portföljen delvis har finansierats av skulder har ökat något. I tillägg har, som tidigare nämnts, löptiden på förmånliga fasträntelån samt ett antal derivat med lägre ränta förfallit, vilket har påverkat räntekostnaden negativt. På den positiva sidan så har interbankräntan under perioden sjunkit och marginalerna har reducerats genom refinansiering och nyfinansiering. Marginalen som nu är lägre kommer att ha en positiv effekt under resten av året. Räntetäckningsgraden är stabil på 1,8 gånger. The administrative result decreased somewhat, again primarily due to the cold start of the year and the higher tax-related costs. The administrative result per share goes up to 0.13 kronor compared to 0.16 kronor the same quarter a year later. The value of property has continued to increase and the driving force is net net growth and investments. Bytestransaktionen som avslutades under första kvartalet gjordes med en nettoförlust på cirka 3,5 miljoner kronor. Den redovisas tekniskt som en realiserad förlust på 35,4 miljoner under värdeförändringar och 31,9 miljoner som ett positivt resultat under skattekostnader. Direktavkastningen i våra värderingar var mer eller mindre oförändrad under kvartalet. Med högre marknadsräntor har bolaget fått en positiv värdeförändring på sin derivatportfölj på cirka 41 miljoner kronor under kvartalet. Sammantaget uppgick vinsten per aktie till 0,8 kronor, ner från 1,49 kronor drivet av en lägre värdeförändring än föregående period förra året. Long-term substance value per share has increased by about 2.4% from 34.2 kronor at the end of last year to 35 kronor per share. This is due to the period's profit, but also due to the repurchase of shares that we have implemented during the quarter. These go up to about 2.2 million shares at a cost of 36 million kronor. The property value is now up to about 10.8 billion SEK after an increase of 472 million SEK, and despite our increased debt, the loan rate has decreased from about 51% to 49%. Concernen har en trygg likviditetsposition på cirka 104 miljoner kronor vilket i kombination med tillgängliga kreditfaciliteter på 150 miljoner kronor och den relativt låga skuldsättningen skapar trygghet för verksamheten, framtida investeringar och framtida refinansieringar. Efter kvartalets genomförda refinansieringar och nyfinansiering har bolaget endast less loss of interest-bearing debts over the next 12 months. The payment capabilities we present include the now completed exchange transaction, but do not include the waived transaction with EpiSurf. All rental negotiations are now over and the average increase was 3.3%, which improved the rental revenues by another 10 million kronor compared to the latest presented income, when not all rental negotiations were finished. Rörelsemarginalen ligger kvar på ungefär samma nivå som förra versionen, vilket förbättrar driftsresultatet från 429 miljoner kronor till 434. De finansiella kostnaderna ökar något på grund av ökad skuldsättning samt högre interbankräntor. Lägre marginaler från refinansieringarna är inkluderade i dessa belopp. Förvaltningsresultatet per aktie kvarstår enligt intjäningsförmågan på 1,19 kronor per aktie. Enomsnittlig räntebindning oförändrad på 2,8 år efter justering för räntesäkringar. Hedgeskaden ligger på cirka 61%. The average income, including the effects of these derivatives, was 3.6% at the end of the quarter, which is a decrease of 3.7% during the previous quarter. This, however, did not increase interest rates during the period. We can thank this reduction for the lower margins that we have received through the refinances that we previously carried out with the banks during the quarter. Kapitalbindningen har ökat till 2,5 år i Q1 från 2,2 år i fjärde kvartalet, återigen mot bakgrund av våra starka relationer med bankerna. Totalt sett så har koncernen även tillgång till numera 250 miljoner kronor i revolverande kreditfaciliteter, varav 100 miljoner har utnyttjats och 150 miljoner är tillgängliga. All in all så mottas vår affärsmodell väldigt bra i bankmarknaden och vi upplever att våra relationer med bankerna ger oss bättre och bättre villkor över tid. i geopolitiskt skakiga tider känns det lyxigt och förmånligt att ägaren så eftertraktad tillgång och har så bra tillgång till lånekapital till förmånliga villkor. Vi befinner oss med andra ord i en väldigt bra position för framtiden.

Thank you, Magnus.