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167,193,201 Colour scheme 224,109,105 212,225,229 218,167,167 82,43,74 167,170,172 242,242,242 159,189,147 171,187,148 34,80,50 1 YEAR -END REPORT 1 JANUARY –31 DECEMBER
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167,193,201 Colour scheme 224,109,105 212,225,229 218,167,167 82,43,74 167,170,172 242,242,242 159,189,147 171,187,148 34,80,50 2 2 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 2 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 159,189,147 171,187,148 34,80,50 Presenting today Erik Hävermark CEO
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167,193,201 Colour scheme 224,109,105 212,225,229 218,167,167 82,43,74 167,170,172 242,242,242 159,189,147 171,187,148 34,80,50 3 3 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 3 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 159,189,147 171,187,148 34,80,50 Sweden’s largest listed pure - play residential company SEK 2.0bn 6,425 apts . SEK 1.3bn 787 apts . SEK 25.7bn 14,929 apts . SEK 29.0bn
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Our vision is to be Sweden’s leading residential real estate company Our mission is to manage and develop homes for more people, where current and future generations can thrive and feel safe
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167,193,201 Colour scheme 224,109,105 212,225,229 218,167,167 82,43,74 167,170,172 242,242,242 159,189,147 171,187,148 34,80,50 5 5 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 5 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 159,189,147 171,187,148 34,80,50 Rental income FINANCIAL KEY FIGURES, OCTOBER – DECEMBER 2025 (SEK) Net operating income + 14.5% Profit from property management 387m 246m 96m Changes in property values 1) - 138m Profit/loss for the period - 12m +9.9% Increased profit from property management 1) 261m invested + 53%
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167,193,201 Colour scheme 224,109,105 212,225,229 218,167,167 82,43,74 167,170,172 242,242,242 159,189,147 171,187,148 34,80,50 6 6 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 6 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 159,189,147 171,187,148 34,80,50 860 1,010 Jan-Dec 2024 Jan-Dec 2025 RENTAL INCOME ( mSEK ) 1,361 1,536 Jan-Dec 2024 Jan-Dec 2025 NET OPERATING INCOME ( mSEK ) Delivering on strategy by improving net operating margin +4.8% like - for - like 63.2 65.7 Q4 2024 Q4 2025 NET OPERATING INCOME MARGIN, LTM (%) +7.4 % like - for - like 55.7 60.3 Q4 2024 Q4 2025 NET OPERATING INCOME MARGIN incl PROPERTY ADMINISTRATION, LTM (%)
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167,193,201 Colour scheme 224,109,105 212,225,229 218,167,167 82,43,74 167,170,172 242,242,242 159,189,147 171,187,148 34,80,50 7 7 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 7 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 159,189,147 171,187,148 34,80,50 Focus areas 7 Upgrades – strengthen NOI and modernize apartments Scalability and operational efficiency – lowering administrative costs Occupancy – strengthen the occupancy rate Energy efficiency – lower operating costs and modernize properties New construction – strong return on investments and focus on sustainability OPERATIONAL EFFICIENCY PROFITABLE INVESTMENTS
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167,193,201 Colour scheme 224,109,105 212,225,229 218,167,167 82,43,74 167,170,172 242,242,242 159,189,147 171,187,148 34,80,50 8 8 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 8 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 159,189,147 171,187,148 34,80,50 Delivering on strategy to improve operational efficency 94.3 94.7 94.6 94.9 95.0 95.7 95.3 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 OCCUPANCY RATE (%) 24 27 25 23 22 14 20 44 45 49 48 31 48 42 4 25 11 14 2 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Earnings capacity* Property administration Central administration Non-recurring costs CENTRAL ADMINISTRATION ( mSEK ) ADMINISTRATION ( mSEK ) * Yearly earnings capacity divded by four 72 97 85 85 62 54 62
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167,193,201 Colour scheme 224,109,105 212,225,229 218,167,167 82,43,74 167,170,172 242,242,242 159,189,147 171,187,148 34,80,50 9 9 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 9 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 159,189,147 171,187,148 34,80,50 55 64 58 77 254 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Total* APARTMENT UPGRADES (# OF APARTMENTS) Profitable investments in standing assets TARGET: Starting from July 2024 upgrade at least 2,000 apartments until June 2029 INVESTMENTS Yield on cost > 6% Yield on cost > 10% SEK 144m SEK 71m SEK 52m SEK 267m Apartment upgrades Energy projects Other investments Total investments *) In total of 296 apartments upgraded from July 2024
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167,193,201 Colour scheme 224,109,105 212,225,229 218,167,167 82,43,74 167,170,172 242,242,242 159,189,147 171,187,148 34,80,50 10 10 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 10 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 159,189,147 171,187,148 34,80,50 Profitable investments in new development TARGET: Start construction of 600-800 apartments per year NOI SEK 103m NOI margin >85% COMPLETED AND STARTED NEW CONSTRUCTION (# OF APARTMENTS) 218 Last 12 months Expected in coming 12 months 403 576 363 Construction started Construction completed
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167,193,201 Colour scheme 224,109,105 212,225,229 218,167,167 82,43,74 167,170,172 242,242,242 159,189,147 171,187,148 34,80,50 11 11 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 11 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 159,189,147 171,187,148 34,80,50 Property portfolio that supports growth PROPERTIES UNDER MANAGEMENT PROPERTIES UNDER CONSTRUCTION 6e 33% 6% 18% 6e 100% 6e 93% PROPERTIES UNDER DEVELOPEMENT 787 apartments 6,425 apartments 14,929 apartments
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167,193,201 Colour scheme 224,109,105 212,225,229 218,167,167 82,43,74 167,170,172 242,242,242 159,189,147 171,187,148 34,80,50 12 12 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 12 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 159,189,147 171,187,148 34,80,50 Properties under management In ten cities 95% In three metropolitan regions and university cities In Stockholm County 23% 73% 25.7bn SEK, fair value
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167,193,201 Colour scheme 224,109,105 212,225,229 218,167,167 82,43,74 167,170,172 242,242,242 159,189,147 171,187,148 34,80,50 13 13 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 13 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 159,189,147 171,187,148 34,80,50 New developments SEK, Fair value 100% Net operating income PROPERTIES UNDER CONSTRUCTION 1.3bn 103m In Stockholm - Mälardalen region SEK, Fair value 87% 2.0bn 5.3% In Stockholm County PROPERTIES UNDER DEVELOPMENT Yield on cost 93% In Stockholm - Mälardalen region 2.3bn SEK, estimated value at completion
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167,193,201 Colour scheme 224,109,105 212,225,229 218,167,167 82,43,74 167,170,172 242,242,242 159,189,147 171,187,148 34,80,50 14 14 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 14 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 159,189,147 171,187,148 34,80,50 Amount in mSEK Properties under management Ongoing construction * Total Rental value 1,672 63 1,734 Vacancy - 78 - 1 - 79 Rental income 1,594 61 1,655 Property expenses - 534 - 8 - 542 Net operating income 1,060 53 1,113 Property administration - 79 - 2 - 80 Net operating income incl . property administration 981 52 1,033 Other income 53 - 53 Central administration - 167 - - 167 Result before financial items , changes in value 867 52 919 * Includes only projects that are expected to be finalized in the next 12 months. Earnings capacity • Other income relates to external property management agreement • SEK 45m under central administration refers to the external property management agreement • External property management agreement has been extended until end of 2027. COMMENTS
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167,193,201 Colour scheme 224,109,105 212,225,229 218,167,167 82,43,74 167,170,172 242,242,242 159,189,147 171,187,148 34,80,50 15 15 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 15 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 159,189,147 171,187,148 34,80,50 Solid financial structure • Liquidity amounts to SEK 2,431m of which SEK 501m in cash and cash equivalents and SEK 1,930m in undrawn credit facilities. • Existing credit facility of SEK 1,000m extended to 2028. • Established EMTN - program and issued EUR 300m with fixed rate 4.375% after the quarter end. Further diversifying the funding sources. • Redeemed outstanding EUR bond in an amount of EUR 111m after the quarter end. 42% Loan - to - value (30 Jun 2025) 1.9x Interest coverage ratio (rolling 12m) 3.42% Average interest rate 42% Loan - to - value (30 Jun 2025) 2.0x Interest coverage ratio (rolling 12m) 3.42% Average interest rate 42% Loan - to - value (31 Dec 2025) 3.28% Average interest rate Interest coverage ratio (rolling 12m) BBB - with Positive Outlook by Fitch Ratings
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167,193,201 Colour scheme 224,109,105 212,225,229 218,167,167 82,43,74 167,170,172 242,242,242 159,189,147 171,187,148 34,80,50 16 16 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 16 S V E A F A S T I G H E T E RP R E S E N T A T I O N 1 J A N U A R Y –3 1 D E C E M B E R 2 0 2 5 159,189,147 171,187,148 34,80,50 C ontinued improvement of NOI margin Value - focused capital allocation Focus going forward Further strengthen the capital structure and improve credit rating
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167,193,201 Colour scheme 224,109,105 212,225,229 218,167,167 82,43,74 167,170,172 242,242,242 159,189,147 171,187,148 34,80,50 17 Q&A
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