property company in logistics. Contents 1. Highlights 2. Results - PowerPoint PPT Presentation

The leading property company in logistics.

Contents 1. Highlights 2. Results and balance overview 3. Operational review 4. Capitalization 5. Capital deployment 6. Outlook and cases Q&A 2

Highlights Another satisfying quarter, despite a global economic slowdown customer demand remains strong YTD Profit from property management 1 of 478 msek, up 13% and 8% in the quarter YoY. • Total operations • YTD Earnings per share (EPS) of 22,59 sek, up 27%. • Letting ratio maintains strong at 96% with WALE of 5 years. • Leased 17 million SEK worth of new leases, net 5 million SEK. Net 20 million SEK YTD. • LTV at 56,5%, down 150bps YoY and cost of debt of 2,55%, down 35 bps. • EPRA NYI of 6,0%, down 10bps a quarter back. Development portfolio at record highs Development • Strong operational fundamentals, with high letting ratio, high capacity use and sustainable rent levels all supports redevelopments. • Increased investments in alternative energy sources and projects aimed at reducing energy consumption. • Three major projects started in key positions (Malmö, Helsingborg and Ängelholm i.e. Greater Copenhagen). Growing appetite from foreign capital Markets • Attention from international investors is high, thus adding to yield compression. • New Construction kept at approximately 600 m(2)’ annually and the market absorbes it all. 3 1 Profit from property management comprises profit adjusted for value changes (realized and unrealized) related to properties, derivative mark to market and other non-cash items.

Results and balance overview 2019, Q3 4

Income statement – Period (YTD) 653 150 Surplus 12,68 22,59 kr/sqm kr/sqm ratio per per share 2019 Q3: SEK M 663,4 77% share 1200 1100 885,1 1000 79,9 900 800 209,7 + 28% + 12% 700 203,2 600 24 5,2 + 13% 500 851,8 400 174,7 681,9 300 478 200 100 0 Rental Property NOI Central Other Financial net Income Value Value Taxes Net income income expenses admin from changes changes property mgmnt. property derivatives 2018 Q3: SEK M 639 155 Surplus 11,27 17,74 kr/sqm kr/sqm ratio per share per share 1200 76% 1100 1000 805,4 900 55,1 800 270,7 700 11,9 600 83,3 194,9 23,6 500 400 176 665,3 610,5 300 422,8 200 100 0 Rental Property NOI Central Other Financial net Income Value Value Taxes Net income income expenses admin from changes changes property mgmnt. property derivatives 5

Statement of financial position SEK M 2019 Q3 2018 Q3 Total assets Investment properties 15,918.3 14,257.4 503.0 503.0 Goodwill 842.3 504.3 Other assets 484.0 243.4 Opening cash and cash equivalents 17,747.6 15,508.1 Total assets Total shareholders ’ equity and liabilities 5,952.4 NAV 194 SEK/share 5,151.2 NAV 164.88 Equity SEK/share 8,987.2 2.6%, Cost of debt 8,270.9 2,9 %, Cost of debt Property loan 2,808.0 2,086.0 Other liabilities 17,747.6 15,508.1 Total shareholders ’ equity and liabilities 6

Operational review 7

Cash flow remains strong YTD Msek Profit surplus 1 200 54% 1 000 52% 54% 800 600 400 200 0 2015 2016 2017 201809 2018 201909 Rental income Profit from property management 1 Profit from property management comprises profit adjusted for value changes (realized and unrealized) related to properties, derivatives marked to 8 market.

Portfolio characteristics 1 (2) Regions # of Lettable area Fair Value Rental value Economic Contractual Surplus ratio properties tsqm Msek Msek letting ratio annual rent, % % SEK M Gothenburg 15 231.2 2,278.7 182.0 99 180.1 87 Helsingborg 23 380.7 2,850.0 220.2 95 210.2 75 Jönköping 12 209.6 1,210.8 117.2 92 107.8 63 Malmö 17 242.3 2,554.4 201.6 98 197.3 67 Stockholm 43 764.9 7,024.4 550.0 95 524.4 81 Total 110 1,828.7 15,918.3 1,271.0 96 1,219.8 77 One year back (106) (1,756.3) (14,257.4) (1,187.7) (96) (1,137.4) (76) 9

Portfolio characteristics 2 (2) By value # of tenants per Tenant concentration by Asset size Letteble space types, property Contractual income breakdown by area 7% 12% 14% 39% 46% 8% 44% 55% 18% 45% 54% 47% 31% 46% 8% 15% 16% < 10k sqm Terminals 10 biggest tenants 1 tenant Gothenburg Helsingborg 10k - 20k sqm Distribution Rest 2-5 tenants > 20k sqm Jönköping Malmö Logistics warehouse 6-10 tenants Stockholm 11- tenants 10

Well-spread and stable customerbase

Property value and yield EPRA NIY 6,0% Msek EPRA NIY 20 000 6,0% 18 000 16 000 14 000 12 000 10 000 8 000 6 000 4 000 2 000 0 2015 2016 2017 Q3 2018 2018 Q3 2019 Assets IFRS property value 12

Rental market Region Stockholm 719 kr/sqm Stockholm 943 kr/sqm Örebro 551 kr/sqm Msek 1 400 720 Letting 1 200 700 ratio 1 000 680 96% 800 660 Region Gothenburg 600 787 kr/sqm 640 Region Jönköping 400 559 kr/sqm 620 200 0 600 Region Helsingborg 2015 2016 2017 Q3 2018 Q3 578 kr/sqm 2018 2019 Region Malmö Rental value Rental value per sqm 832 kr/sqm (Numbers indicate rental value per sqm) 13

Leasing activity and contract maturity Net rental by contractual value Maturity - Contractual WALE annual rent 120,0 5 y 100,0 500,0 39% 80,0 450,0 60,0 400,0 40,0 350,0 20,0 300,0 0,0 250,0 -20,0 17% 200,0 -40,0 14% 12% 11% -60,0 150,0 8% -80,0 100,0 50,0 0% – 2019 2020 2021 2022 2023 2024 2025+ Signed new Moved out Net 14

A history of growth Profit from property management per share EPRA NAV per share Return on equity 250 20 30 25 200 16 20 12 150 15 10 100 8 5 0 4 50 0 0 Return on equity Average 15

Capitalization 16

Capitalization LTV & Cost of debt Capital structure 100,0% 4,0% 20 000 33,5% 18 000 3,5% 33,2% 33,2% 80,0% 16 000 32,3% 3,0% 14 000 31,6% 2,5% 60,0% 12 000 2,0% 10 000 35,7% 40,0% 8 000 1,5% 6 000 1,0% 20,0% 4 000 0,5% 2 000 0,0% 0,0% 0 2015 2016 2017 Q3 2018 2018 Q3 2019 2015 2016 2017 Q3 2018 2018 Q3 2019 LTV, % (left) Avg. cost of debt Interestbearing debt Other liabilities Equity 17

Funding structure Funding source Year Debt maturity loans Interest maturity incl. derivatives msek Share% Interest rate msek Share% Interest rate 9% including including Margin% Margin% 15% 0-1 y 3,852 43 1.33 4,464 50 1.21 1-2 y 2,643 29 1.06 757 8 4,85 2-3 y 1,276 14 1.37 500 6 3.75 3-4 y 1,158 13 1.50 500 6 3,16 76% 4-5 y 0 0 0.00 0 0 0.00 Bankloans 5- y 58 1 2.41 2,766 31 3.74 Bonds 8,987 100 1.28 8,987 100 2.55 Commercial Debt Interest papers maturity maturity 1,6 y 2,4 y 18

Capital deployment Focus on development 19

Capital deployment YTD Acquisitions/Divestments Asset acquisitions 82 Transactions Property Transfer Letteble Region Property area (sqm) value (MSEK) Välingen 2 Q1 2019 3 430 Stockholm 20,4 Divestments - Sockret 7 Q2 2019 2 707 Malmö 9,2 Muttern 6 Q2 2019 7 800 Gothenburg 52,1 Capex 505 Development capex

Development projects in progress 580 Book value, MSEK Rosersberg 11:81, Sthlm Speed logistics Sothönan 3, Katrineholm Total investment: 65 MSEK Postnord Finalized: Q2 2020 Total investment: 36 MSEK Finalized: Q3 2020 Norra varalöv 31:11, Helsingborg Remaining investments, > 900 Total investment: 193 MSEK MSEK Finalized: Q4 2020 Plantehuset 3, Helsingborg Nowaste (After Q3) Total investment: 132 MSEK Plantehuset 3, Helsingborg Finalized: Q4 2020 Nowaste Total investment: 101 MSEK Finalized: Q4 2019 Plantehuset 3, Helsingborg 130 PostNord Added m(2)’ Total investment: 250 MSEK Finalized: Q1 2020 Sunnanå 12:52, Malmö DHL Total investment: 150 MSEK Sunnanå 12:52, Malmö Finalized: Q4 2020 Multi Tenant distrubution Total investment: 358 MSEK 21 Finalized: Q3 2019 (Boxes represents a selection of ongoing projects)

Outlook and cases We develop logistics positions 22

Sustainability trends in Catena’s business Sustainability manager hired Q1, 2019 • Corporate culture • Increasing building certifications underpins our - Miljöbyggnad Silver, target in sustainability efforts all developing projects. Five • Recruting and retaining projects ongoing Q3, 2019 Environmental talent - Green Building, 7 properties • eNPS above 40 • Energy efficiency projects • Partnership with • Installation of photovoltaic cells customers, where suitable municipalities and suppliers Governance Social • Commitment to prevent corruption • Strive for diversity 23

Trends in E-commerce Groceries Physical stores E-commerce 24% Sports/leisure 16% Consumer electronics 16% E-commerce 90% 10% growth Q2 2019 Home decoration/Furniture 13% 13% Fashion 12% 674 bn 77 bn Building materials 7% (2018) (2018) Toys 5% Books/Media 0% Sourze: Postnord E-barometern, Svensk dagligvaruhandel 24

PHASE 5 (201907) Customer: DHL Express Distribution Investment: 150 msek Logistics Position ERV: 10,5 Msek SQM: 10 000 DHL FREIGHT Sunnanå 10 year contract Final: Q3 2020 CHEFS CULINAR SVENSK CATER MULTI TENANT Total investment: 969 MSEK Total Rental value: 71 MSEK Gross yield: 7,3% Total sqm: 79 400 Time of production: 2015-2020