“We continue to adapt our organisation to reflect the divestments made during the year. We are simplifying our organisation and improving efficiency by moving from four regions to two. Our aim is to reduce our administration costs by 15 per cent, equivalent to just under SEK 100 M. During the period, we repurchased 62 million shares for a total of SEK 7.6 Bn. Last week, an Extraordinary General Meeting approved further share buybacks,” says Pål Ahlsén, Chief Executive Officer, Castellum.

January–September 2026
▪ Income totalled SEK 6,987 M (7,196). In the like-for-like portfolio, the
change in rental income was −1.7 per cent (0.0), excluding currency
effects.
▪ Net operating income (NOI) totalled SEK 4,829 M (4,908). Net
operating income in the like-for-like portfolio decreased 3.6 per cent
(−0.9), excluding currency effects.
▪ Income from property management totalled SEK 3,427 M (3,474),
corresponding to SEK 7.39 per share (7.06).
▪ Changes in value of investment properties totalled SEK −684 M
(−1,400), corresponding to −0.5 per cent (−1.0). The value of the
property portfolio amounted to SEK 129 Bn (137) at the end of the
period.
▪ Net income after tax for the period totalled SEK 2,873 M (1,050),
corresponding to SEK 5.75 (1.72) per share.
▪ New leases were concluded for 245,000 square metres (242,000)
with an annual rent of SEK 659 M (532). Net leasing totalled
SEK 105 M (−166) for the period and SEK 131M (−143) for the last
12 months.
▪ Net investments totalled SEK −7,452 M (3,498), of which SEK 2,953 M
(2,085) pertained to investments in existing properties, SEK — M
(2,031) to acquisitions and SEK −10,405 M (−618) to divestments.
▪ Investments in associated companies and joint ventures totalled
SEK — M (836).
▪ The loan-to-value ratio was 37.4 per cent (36.5).
▪ The interest coverage ratio for the latest twelve-month period was
3.1 (3.2) and interest-rate hedging (more than 1 year) was applied to
61 per cent (68) of the loan portfolio at the end of the period.

July–September 2026
▪ Income totalled SEK 2,246 M (2,407). In the like-for-like portfolio, the
change in rental income was −0.9 per cent (−0.3), excluding currency
effects.
▪ Net operating income (NOI) totalled SEK 1,614 M (1,702). Net
operating income in the like-for-like portfolio decreased 1.1 per cent
(−2.4), excluding currency effects.
▪ Income from property management totalled SEK 1,126 M (1,253),
corresponding to SEK 2.55 per share (2.55).
▪ Changes in value of investment properties totalled SEK −953 M
(−232), corresponding to −0.7 per cent (−0.2).
▪ Net income after tax for the period totalled SEK 939 M (858),
corresponding to SEK 1.97 (1.61) per share.
▪ New leases were concluded for 43,000 square metres (57,000) with
an annual rent of SEK 83 M (143). Net leasing totalled SEK −5 M (16).
▪ Net investments totalled SEK −3,854 M (675), of which SEK 985 M
(797) pertained to investments in existing properties, SEK — M (331)
to acquisitions and SEK −4,839 M (−453) to divestments.

Important events during the quarter
▪ During the quarter, 22,596,587, treasury shares were repurchased.
Total treasury share repurchases during the period amounted to
61,616,281at an average price of SEK 122.74 per share, for a total of
SEK 7,563 M.
▪ Castellum has once again been approved for Nasdaq Green Equity
Designation and thereby retains its green equity designation.
▪ Under the company’s EMTN programme, Castellum has issued an
unsecured bond loan of EUR 300 M.
▪ Castellum intends to move from four regions to two regions in
Sweden. The change is part of Castellum’s continued efforts to
simplify the organisation, make decisions faster and reduce its
costs.

Important events after the end of the period
▪ On 1 October, Castellum handed over the 95 properties that were
divested to Wihlborgs at an agreed property value of SEK 13.3 Bn.
▪ At an Extraordinary General Meeting held on 14 October, it was
resolved to reduce the share capital by SEK 24,005,225 through the
cancellation of 46,541,184 treasury shares. To restore the share
capital, it was simultaneously resolved to carry out a stock dividend
issue in a corresponding amount.

Presentation of the report
Today at 9:00 am (CEST), CEO Pål Ahlsén and CFO Christoffer Strömbäck will present the report. Follow the presentation via this link: https://events.inderes.com/castellum/q3-report-2026

For further information, please contact:
Pål Ahlsén, Chief Executive Officer, Castellum AB, +46 76 807 97 02
Christoffer Strömbäck, CFO, Castellum AB, +46 70 249 72 55