Sagax: YEAR-END REPORT 2023

2023 FINANCIAL YEAR

• Rental revenue increased 16% to SEK 4,293M (SEK 3,696 M in the year-earlier period).
• Profit from property management increased 16% to SEK 3,881M (3,339).
• Profit from property management per Class A and B share after dilution rose 15% to SEK 11.16 (9.70).
• Property revaluation had an impact on profit of SEK -2,517M (2,233).
• Revaluation of financial instruments had an impact on profit of SEK -1,235M (-2,025).
• Profit after tax for the period was SEK -13M (2,718).
• Cash flow from operating activities before changes in working capital rose 16% to SEK 3,485 M (3,015), corresponding to SEK 9.94 (8.68) per Class A and B share after dilution.
• Net investments in properties amounted to SEK 5,913M (1,855), of which property acquisitions accounted for SEK 5,088M (3,202).
• Sagax completed two directed issues, one in June and one in November, each encompassing 10,000,000 Class B common shares. The issues raised SEK 4,180M to the company, excluding transaction costs.
• Sagax received a rating upgrade to Baa2 with a stable outlook from Moody's Investors Service.
• The Board of Directors proposes that the dividend per Class A and B share be raised to SEK 3.10 (2.70). The Board also proposes a dividend of SEK 2.00 per Class D share through a quarterly payment of SEK 0.50. The dividend proposal is in accordance with the company's dividend policy.

FOURTH QUARTER OF 2023

• Rental revenue rose 17% to SEK 1,133M (SEK 971).
• Profit from property management increased 12% to SEK 909M (809).
• Profit from property management per Class A and B share after dilution rose 8% to SEK 2.52 (2.34).
• Property revaluation had an impact on profit of SEK -837M (-1,288).
• Revaluation of financial instruments had an impact on profit of SEK -501M (590).
• Loss after tax for the quarter was SEK -433M (profit: 274).
• Cash flow from operating activities before changes in working capital rose 9% to SEK 778M (713), corresponding to SEK 2.13 (2.04) per Class A and B share after dilution.
• Net investments in properties amounted to SEK 2,188M (-1,562), of which property acquisitions accounted for SEK 1,852M (288).
• Sagax completed a directed issue of 10,000,000 Class B common shares in November. The issue raised SEK 2,120M to the company, excluding transaction costs.

FORECAST FOR 2024

Profit from property management for 2024, meaning profit before revaluations and tax, based on the current property portfolio, announced acquisitions and divestments and current exchange rates, is expected to amount to SEK 4,200 M.

For further information, please contact CEO David Mindus, tel +468-54583540.

About Sagax

AB Sagax is a property company whose business concept is to invest in commercial properties, primarily in the warehouse and light industry segment. Sagax's property holdings on 31 december 2023 amounted to 4,331,000 square metres, distributed between 903 properties. AB Sagax (publ) is listed on Nasdaq Stockholm, Large Cap. More information is available at www.sagax.se.

This constitutes information that AB Sagax (publ) is legally obliged to publish under the EU's Market Abuse Regulation and the Swedish Securities Market act. The information was released for publication on 22 February 2024 at 1.30 p.m. (CET).

Every care has been taken in the translation of this press release. In the event of discrepancies, however, the Swedish original will supersede the English translation.