Prisma Properties AB (publ)

Welcome everyone to today's presentation of our Q1 in 2025, where Martin and I will take you through the key events and financial highlights from this quarter. We kicked off 2025 with strong momentum. Our strategy continues to deliver results and we've grown in both scale and quality. If we look at our highlights, after closing the quarter, we'll enter into an agreement to acquire three properties from MP3 for a total of 463 million SEC, further strengthening our footprint in key regional cities with good growth, grocery and discount retail. In Q1, we continue to see strong rental income growth with 20% increase year over year. Our rental income reached 113 million SEC, up from 94 million. This growth was driven by acquisitions, completed projects and CPI adjusted leases. Net operating income increased with 16%, reaching 94 million compared to 81 million in Q1-24. Property costs were temporarily high in the quarter due to provision for bad debt, a minor non-core tenant and increased cost in our property in Häggvik in connection with a transition to in-house management. Adjusted profit from property management increased to 45 million, up from 25 million last year, an increase of 80%. Property valuation yield remained unchanged compared to December-24, an unrealized value change amounted to 56 million, reflecting the continuing strength of our portfolio. We made acquisitions of total 108 million during the quarter, and this involved five properties with dinners as tenants and the acquisition in Lycksele. This quarter we have continued to sign several new long lease agreements, strengthening our presence in both Sweden and Denmark, and netletting this quarter amounted to 17 million. WALT decreased slightly from 8.7 to 8.4 years, and our occupancy rate remained strong at 99%. In February we successfully renegotiated approximately 70% of our loan portfolio as communicated earlier. This would strengthen our financial position. We have also this morning communicated that ABG has been appointed as our liquidity provider, effective as of today. Currently we have 136 properties with a total valuation of 7.4 billion SEK. We have added six properties this quarter, five properties strategically located along the highways with dinners as tenants, and a property in Lycksele, where we have already started the construction of a new village store. There have been no major changes among our top tenants and rental income split, but we continue to grow with villas, and combined with the city gross, Exfood now represents 15% of our total rental income. Our property management team continues to maximize our WALT by renegotiating all these agreements that expired before the end of 2028.

Property values increased with the acquisitions that Fredrik mentioned earlier in Lycksele and the dinners portfolio, 108 million. We have an investment in the portfolio in projects of 63 million, which is a low number if you compare to the forecast of 1 billion per year or 250 million per quarter. There's no red flag here, it's just that we finalized a lot of projects in Q4 and we have started up a number of new projects in Q1, so there's no reason for alarm here, but the Q1 number on the investments is on the soft side. Unread has changes in value, 56 million with underlying stable market yields, so this is basically all project profits and also partly a positive revaluation of the acquisitions that we made in Q4 in Gothenburg. We have quite a substantial currency effect with the SEK strengthening quite dramatically in the end of the quarter, which also affects partly the financial net and the earnings capacity. We come back to that. When

it comes to our ongoing projects, this quarter we have started another four projects. Currently we have seven ongoing projects with an expected average yield of 7.8%. The new projects that we've added this quarter is in Lycksele, where we have an ongoing construction of Avillis with an estimated completion during 2025. In Gothenburg, we have already started the construction of a dollar store with an estimated completion by the end of the year. And in Mora, we have started construction of approximately 5000 square meters with Lidl, Tehancen and Jysk as tenants. And lastly in Görring in Denmark, we have started construction of a new store, Lager 157 on 2500 square meters. When it comes to our upcoming projects, our development organization continues to perform. All announced projects have been initiated this quarter. We continue to ramp up and add some new projects that we plan to start the coming quarters. We can look at Vagn Herad, where we are planning to start a construction of 3500 square meters of discount retail. In Jönköping, we will start a construction of fast food in Torsvik in Q4. In Karlskrona, where we currently are in an ongoing zoning process, we are planning to construct a hub of fast food restaurants on 1000 square meters. In La Holme, a project concerning groceries, we are also there in an ongoing zoning process that we plan to start construction in Q in 2026. We have taken away a fast food project in Värnemul that we mentioned in the Q4 report. We aim to start that project, but the timeline has not yet been set. We are planning to start that project sometime in 2026. We are going to continue to include new projects to the list the coming quarters.