Stendörren Fastigheter AB: Interim report January - March 2026

Press release

May 4, 2026

• Rental income increased by 17 percent to SEK 290 million (247) and net operating income increased by 18 percent to SEK 224 million (190).
• Income from property management before exchange rate changes increased by 32 percent to SEK 102 million (77).
• Net letting amounted to a total of SEK 5.3 million and new lease agreements with an annual rental value of SEK 25 million were signed (includes both renegotiated leases and leases with new tenants).
• Lease agreements that were renegotiated during the period led to an increase in rental values of approximately 2 percent on a weighted average basis.
• Cash flow from operating activities amounted to SEK 48 million (125), corresponding to SEK 1.48
• per share (4.03).
• Realized and unrealized changes in value of the property portfolio for the quarter amounted to
• SEK -11 million (90).
• Profit for the period amounted to SEK 131 million (107), corresponding to SEK 3.83 per share (3.24) before dilution and 3.83 per share (3.24) after dilution.

SIGNIFICANT EVENTS DURING THE FIRST QUARTER

• In February, Stendörren took possession of 14 properties in the Helsinki region at an agreed property value of approximately SEK 1.3 billion. The portfolio is fully let, with an average remaining lease term of just over three years. The annual net operating income is estimated at approximately SEK 96 million.
• In February, Stendörren entered into a lease agreement for a newly constructed 1,900 square metre light industrial building on the property Vindkraften 2 in Skrubba, southern City of Stockholm. The lease term is seven years. The new building was completed in March 2026, and the tenant will take possession on 1 May 2026.
• In February, Stendörren successfully issued green senior unsecured bonds in an amount of SEK 300 million at a margin of 2.11 percent under Stendörren's existing framework of a total of SEK 800 million, with final maturity in June 2029. Bonds amounting to SEK 400 million had previously been issued under the framework.
• In March, Stendörren acquired a warehouse and light industrial property in the Fyrislund industrial area in the municipality of Uppsala from a private seller. The agreed property value amounts to SEK 52 million, and the total lettable area is approximately 2,500 square metres. The property is fully let to nine different tenants, with an average remaining lease term of approximately 3.3 years. The annual net operating income is estimated at approximately SEK 3.7 million. Possession was taken in connection with signing on 31 March 2026.

SIGNIFICANTS EVENTS AFTER THE END OF THE QUARTER

• In April, Stendörren acquired the light industrial property Mellby 4:74 in Partille in the Gothenburg region from a private seller. The agreed property value amounts to SEK 130 million, and the lettable area of the property totals approximately 4,000 square metres. The property comprises three modern buildings situated on approximately 16,800 square metres of land and also includes the right of use of approximately 14,600 square metres of leased land. The property and the leased land are fully let to two tenants, with an average remaining lease term of approximately 7 years. The annual net operating income is estimated to amount to approximately SEK 10.1 million. Closing took place simultaneously with signing, April 29, 2026.

"We delivered a strong quarter with a 32 percent increase in income from property management, driven by completed acquisitions, completed projects and reduced interest margins in connection with early refinancings. At the same time, we maintain a high occupancy rate and positive net lettings for both the quarter and on a rolling four quarters basis, despite a continued challenging market."

"Lower interest margins, increased interest rate hedging and extended capital- and interest rate maturities have together reduced the financial risk in an uncertain market."

"We see continued stable demand and are well positioned for continued strong development through an attractive project pipeline and opportunities for value-accretive acquisitions. All in all, this provides favorable conditions for continued stable and profitable growth going forward."

Erik Ranje, Chief Executive Officer

The presentation will be broadcasted via webcast

Link to the webcast: https://www.finwire.tv/webcast/stendorren-fastigheter/q1-2026/

The presentation and webcast will be available at stendorren.se/en after the conference call.

To participate in the conference call, please dial: [phone]. Then enter the meeting ID: 941 5747 8542 followed by #. To ask a question to the CEO or CFO, please press *9 on your phone. To withdraw your question, press *9 again.

For more information, please contact:

Erik Ranje, CEO

[phone] or [e-mail]

Per-Henrik Karlsson, CFO

[phone] or [e-mail]

This information is information that Stendörren is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-05-04 07:00 CEST.

Stendörren Fastigheter AB (publ)

Stendörren Fastigheter AB (publ) is an expansive property company in logistics, warehouse and light industrial in Nordic growth regions. The company is listed on Nasdaq Stockholm Mid Cap. The business concept is to create profitable growth in net asset value. This is achieved through value-creating acquisitions, capitalising on the positive rental growth that follows the urbanisation of metropolitan regions and by developing existing assets, including the company's extensive and unique building rights portfolio.

For more information about Stendörren Fastigheter AB (publ), see: www.stendorren.se/en