Public Property Invest

Solid quarter with continued growth in operating income and results and increased portfolio wault

Net operating income was up by 56 % to NOK 245 million (NOK 157 million) in

the third quarter and by 48 % to NOK 647 million (NOK 437 million) for the

first nine months of 2025, compared to the same period last year. Net income

from property management was up by 40% to NOK 113 million (NOK 81 million) in

the third quarter and by 53 % to NOK 321 million (NOK 210 million) year to

date in 2025, affected by the large cash position on the balance sheet which

is ready to be deployed.

"PPI is a growth company with a stated ambition of being a leading

consolidator and we have delivered another quarter with solid income and

results growth. We have acquired eight properties in the quarter, and we have

continued to build presence and track record in the debt capital market,

resulting in steadily improving credit margins. PPI now has ample liquidity on

thebalance sheet and are well positioned for continued growth in the time to

come" says André Gaden, CEO.

Positive changes in fair value of investment properties came in at NOK 18

million in the third quarter and NOK 291 million year to date and profit

(loss) before tax was NOK 128 million (30 million) in the third quarter and

NOK 559 million ( -173 million) year to date.

PPI signed new and renewed leases for a total of 2,400 sqm in the quarter. As

of 30.09.2025, the occupancy in the management portfolio was 98 %. Per the

same date, PPI owned 104 properties, with a total market value of NOK 15.6

billion, an average lease term of 7.5 years (WAULT) and an average net yield

of 6.4 % in the management portfolio.

During the third quarter, PPI acquired eight properties located in Norway and

signed an agreement to acquire one property under construction in Finland,

with scheduled closing at completion next year. In total, these properties add

around 25,400 sqm to the portfolio.

PPI maintains a solid balance sheet with an EPRA LTV of 45.3 % and a Net

debt/Run rate EBITDA multiple of 8.3 as of 30.09.2025. During the quarter, PPI

issued a new NOK 300 million, 3-year floating rate bond with a coupon 3m NIBOR

+ 159 bps.

Management will present the results in a webcast, followed by a Q&A session

today at 10:00 CET. The webcast may be followed from:

https://publicproperty.no/en/investor-relation.

Questions may be submitted by email to [email protected].

This information is subject to disclosure under the Norwegian Securities

Trading Act, §5-12. The information was submitted for publication at

2025-10-28 07:00 CET.

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