Nivika Fastigheter AB (publ)

Welcome to today's presentation. You are with us, New Vika Fastigheter, with the CEO, Sverke Källgården and CFO, Kristina Karlsson. When I ask questions, it's good to ask them from the teacher at the top of the show. With that, I hand over the floor to you. Thank you

very much and welcome to the presentation of Q1 for New Vika Fastigheter. My name is Sverke Källgården and I'm with me, Kristina Karlsson, CFO. Since we also have company we have as a listener in the room, also the CEO, Lisabeth Nordman, and hopefully soon elected new CEO, Knut Rost. Let's go to New Vika in short. We are a small-scale property company and have as a business idea to long-termly manage and develop high-end commercial properties and housing. With that, we will create slow, profitable and sustainable value growth over time. The business idea is to be local. We believe in the local environment that it will create the best business for the company. We have offices in addition to the headquarters in Värnamo. We also have administrative offices in Värnamo, Jönköping, Växjö and Varberg. We have a property portfolio that per report day is worth about 12 billion kronor, each of 63% of commercial properties. We have a contract value of 782 million kronor. We have 217 properties and a new rating of 95%. Our property stock is concentrated in Småland with Ånöid. We have Småland and the west coast. We have changed our strategy a bit and are now growing more with the West Swedish Triangle. It is a triangle that consists of the values E4, Riksväg 40 and E6. These values are so important because we have our light industry focus and we know that our guest and customer are asking for the right conditions to be able to make fast and simple transports possible. In the future, sustainable transports will be built up with a charging network of e-chargers for long-term users. We are also in the Gnosjö region, which means that we are in Sweden's industrial hub and the industrial metropolis in southern Sweden. There are a lot of good companies, but above all labor. A large part of the inhabitants of this region work in the industry. We focus on light industry, and have a bit of office and social property. Looking at the portfolio, we have steady growth, stable finances and good profitability. The property value was 12 billion, which is divided into 217 properties, which makes it a diversified portfolio. We are not standing with a single property. We have a net loan rate that is significantly below what is allowed in our financial policy. We have a financial policy that says up to 55 percent. We have a net loan rate of 48.1 percent today. Looking at the growth in long-term value, it has also increased steadily over time, and is now at 6.3 billion. Mivica is in a growth phase. We have a stable financial result and a high profitability. We have a rent value of 712 million, and a surplus of 68 percent. We have to consider that we come from our toughest months with the highest operating costs. We are normally around 70 percent. We have acquired 27 properties in 2024, which together have a bad rent value of 51 million and 47,000 square meters. During the first quarter of this year, we have acquired 16 properties, with a rent value of 25 million and 25,000 square meters. If we look at sustainability, it has been in focus since Mivica was founded in the year 2000. These are properties in the small country, and you see it above all possibilities to get a good and sustainable business for both the property company and our tenants. Therefore, more parts of our properties have had solar cells and electric car charging since they were acquired or built. If you look at the listed property companies today, we are in the top ten among the companies that have produced solar energy. If you put that in parity with how big the portfolio is, we are on the price range. If you look at the energy class of our properties, it is the same scale as if you buy a refrigerator or a white moth A to G. If you look down to the right, we have a wider axis than we have a butt, which is unusual in a property company that focuses on commercial high-cost properties. 50 percent of our properties have energy class A, B or C when it comes to the real estate market. Over 50 percent of our properties are modern and developed by Mivica. We will also join the Science Based Target Initiative in 2025, and we are now setting the goal of reporting there. 45 percent of our property portfolio is green, according to Mivica's Green Framework, which is established in accordance with EU taxonomy. Let's move on to the quarter report. If we look at the summary, we have rents at 189 million, which is a rise or increase of 15 percent compared to the corresponding quarter the previous year. The net profit increased even more, with 17 percent at 128 million, and the management result increased with 32 percent at 52 million. The economic expansion rate is still high, at 95 percent throughout the entire stock, and 95 percent of commercial properties, and 96 percent of our properties. The average income in the loan portfolio has continued to decline, and is now at 4.3 percent. We have an ongoing stock purchase program of 50 million kronor which is current and current, since we have a year-end. During the period, we have bought through to a loan of about 22 million kronor. The company owned about one million shares of series B on 31 March. For the first time since we went on the stock exchange, the board suggests a distribution of 0.64 kronor per share, distributed at four payment times. If we look at our targets on the right, we have achieved one of them, which is that we are below the net loan rate, where we have a 48 percent increase. We have 12.2 billion in real estate value, and the target is 15 billion at the end of 2028. Then two-thirds of the real estate value will also consist of commercial properties, which we are on the right track with now. The growth is happening on high-cost commercial properties. We have a rental tax rate for the quarter, which is somewhat below the target by two times. It is due to the fact that we issued an obligation during the autumn. The rental effect is immediately noticeable, but since we are continuously acquiring properties, the effect has not come into play on the income side in the same way. This is the target that will rise in the future. Hopefully, the growth in the management result will increase over time as well. Let's move on to the numbers. I will leave the floor to Kristina.

Thank you. As Svartke said, the income has increased by 15 percent and our profit is at 17. This is clear evidence that the investment in high-cost properties and the heating that is done, is through our result calculation. This despite the fact that we look at the quarter that has the most management costs in the year. If we look at the financial net, it is 63 million, and yesterday we had 58. It is in principle in parity, and then you should know that the rental tax is 17 percent higher compared to earlier periods. Here we get a surplus of the reduced average income, which now has risen to 4.3 percent. The rental tax rate is 1.9. We had 2.0 during the year shift. As Svartke said, it is the obligation that gives the impression and we expect it to turn back to 2. We have a result per share for the period of 59 years. We have a value of 15 on the rental tax rate and we get properties on 4, so it is very small movements. If we look at the property portfolio, it has been 12.2 billion. 95 percent of the properties are with cash flows. Our total investment is valued at 200 million. We have unbuilt land, land and construction rights for 300. During the quarter we have added 15 commercial properties, nine on the west coast, four that belong to the area of ​​Vernamø and one in Habo, the area of Jönköping. In Habo we have also started up a new project called Gemofix and are building a construction market that will be completed in autumn. Our ongoing construction is still in progress and will add 35 million in annual income. From the main thing this year, we have the figure that will come in the summer of 2026. If we look at the financial side, we have a capital-binding side of 3.3 years. We have a rental-binding side of 2.6. We have total swaps of about 3 billion and 400 million kronor in fixed rental tax. It gives a net balance of 48 percent and we have a 57 percent federal interest. We had 200 million in cash when we left the quarter. A net balance of 48 percent and a rental tax of 1.9 and a solidity of 45 percent. The long-term value per share is 65.83 compared to 63.12 last year. This increase is actually larger in kronor and ears, but since we have increased the share by a new dimension in 2023, it does not look fully through.

Thank you, Kristina. If we are to summarize and get some news, last night we signed a contract with Rostig EP, the executive director of their new production facility in Gislaved. We have discussed this earlier, that we had a LUI, but today this is a fact. We will now build a production warehouse and office facility of a total of 14,000 square meters with the possibility of emigration to 19,000 square meters. This will be completed during the second half of the year, 2026. We have also signed the acquisition of a property with E4, Södra Mjönköping. It is an industrial property with triple net sales and it will strengthen our result per share and the operational cash flow. There are also several interesting acquisition objects, especially in the electricity industry, in our geography, which we evaluate. We also have several applications from the guest house for adaptation and expansion of areas. On May 19, Kristina will be replaced by another Karlsson when Daniel Karlsson starts as new CFO at Nivica. That was all we had, so we are happy to answer questions.

Thank you, Sverreker and Kristina, for that presentation. We have received a lot of questions. The first question is as follows. The rents in Q1 were largely unchanged compared to Q4. Despite the fact that you have added properties with a total rent value of 36 million kronor under Q4 and Q1 also had a positive net rent of 7 million kronor under Q1. Could you explain this development and what has happened to the rents during the first quarter of 2025?

Yes, that's right. The acquisition did not occur... They came in succession, so there is not a quarter effect on all of them. But it is not that we have reduced rents, but it is... I don't know if you have a better explanation for that. The

reason is also that the net rents are when you have signed the contract. So the rents when we sign the contract are included in the net rents. That means that we do not have them in the result, but we have them in the net rents. So that is the big explanation. A whole lot of the positive is the new house, among other things, like the one we built at home and fixed, that we build here in Jönköping, for example. It is passed through the numbers first in September.

Thank you for the answer. How would you say that the interest is in Nybro and Gislaved for your safe housing, as well as the vacancies at Breda Sten?

Well, in Gislaved we have... It is not finished yet, but it will be finished the second half of the year, 2026. But we are interested in questioning both from ordinary apartments and the safe housing there. Nybro has been slow to rent out, so we will do it again so that one of the apartments becomes a regular apartment house and the other one the safe housing. We hope that the vacancies we have will also go down there.

How much do you expect to get down in the average rent next quarter?

We do not leave any forecasts. It is also about the market rent to take away. We do not have 100% under rent, so of course, the forecast will be affected. Yes. And to say about the rent in today's environment, I am not the right person to

do that. I understand. How would you say that the opportunities look to grow along the E6-leg, as it is called? You are thinking that the competition is pretty tough, right?

No, we have very big opportunities to grow after E6 as well. It is a priority market for us. As I write in the report, the more business we do, the bigger our network becomes and our brand becomes known on that market. So we see an increase in demand. We do many of our business off market because we are a strong local operator. And the more business we do, the more we get in the eye of the Nebica, so we have a number of demand that we evaluate. So we see good opportunities to grow along the E6.

You have bought and added a large number of properties already during this year. A helicopter perspective question. How do you see the transaction market right now? Would you say that it is easier or harder to find each other as buyers and sellers?

We have never really seen that it has been, from a transaction perspective, a limitation for growth for Nebica even in tough times. Since we are a local operator and we have a local organization on the markets where we are present, we are the natural takers for many of these types of properties, especially when it comes to sales and leases. There has been access to capital and the rent situation has been so high that it has been a bit harder to grow during the period. But we set the obligations to very good conditions for Nebica during the autumn and then it has been tough. So we see positive, both in the market we are in today and in the future.

Have you realized any rent increases during Q1 and in that case how much percentual indexing and housing rent?

The agreement for housing was around 5%, almost 5% by 2025. So they will fall in from above. They

are already out of stock from the January rent, they are already in Q1.

And commercial properties were around 1.5%, so that's what we get with us.

I understand. You mentioned strong rent increase. How sustainable would you say this trend is, given the macroeconomic situation and potentially increased vacancy rates in the industry?

Given that we have a relatively high rent increase, we have 95% rent increase, it's difficult to live with positive rent increase every quarter. But we see positive on this. We are in the Gnosjö region, which is a very sustainable region, and has shown a sustainability over time, regardless of what kind of situation it is. Without having any theoretical evidence for it, I think this region is more sustainable than many others when it comes to the number of contests. We see positive on that and we aim to keep our goal when it comes to the degree of support and to be around the levels we are today.

And you describe a good renommé and good business relations. How do you work a little concrete and strategically to maintain but also to develop these in a pretty tough market?

I have the intention to keep the foundation of the company, Niklas Bergman. He works with business development and is very much on the road to our regions and looking for supplies and also for merchants. It is in parallel with the fact that we are building strong local organizations in Värnamo, Växjö, Jönköping and the west coast. Our goal and strategy is to have an increased presence in the market and in the local business life. So if you don't exist, you don't exist. It is about being present and meeting a lot of

people. And then we take a final question here. What effect do you expect the ongoing project as the e-picture market and the new headquarters will have on revenues but also cash flows?

We saw it in the picture when we showed the project how they will be included. Let's see if we can get to that picture. There we have it. We have the revenue. It will contribute three million to the project and we are also building the hotel that is next to the office in the same project. So three million will contribute.

Good. That was all the questions we had here, Sveräker and Kristina. I thank you for taking the time to present the report here today and I wish you all a big thank you for following today's presentation. Thank you very much.