Fastighetsbolaget Emilshus AB (publ) Interim Report January–September 2026

January–September 2026

• Rental income increased 29% to MSEK 831 (643).
• Profit from property management increased 23% to MSEK 374 (303).
• Profit from property management per ordinary share increased 15% to SEK 2.52 (2.19) per ordinary share.
• Profit for the period amounted to MSEK 439 (379), corresponding to SEK 3.03 (2.82) per ordinary share.
• Changes in value of investment properties impacted earnings by MSEK 98 (205).
• Changes in value of financial instruments impacted earnings by MSEK 88 (–42).
• Operating cash flow increased 24% and totaled MSEK 345 (278).
• Net investments totaled MSEK 1,980 (2,709), of which MSEK 1,854 (2,640) pertained to property transactions.

July–September 2026

• Rental income increased 25% to MSEK 286 (228).
• Profit from property management increased 18% to MSEK 133 (113).
• Profit from property management per ordinary share increased 14% to SEK 0.89 (0.78) per ordinary share.
• Profit for the period amounted to MSEK 147 (167), corresponding to SEK 0.99 (1.21) per ordinary share.
• Changes in value of investment properties impacted earnings by MSEK 1 (76).
• Changes in value of financial instruments impacted earnings by MSEK 97 (20).
• Operating cash flow increased 22% and totaled MSEK 124 (101).
• Net investments totaled MSEK 837 (1,264), of which MSEK 789 (1,228) pertained to property transactions.

Adjusted forecast for 2026

• For 2026, it is estimated that profit from property management with the current property portfolio and announced acquisitions will total MSEK 500. The previously issued forecast was MSEK 495, which was announced in connection with the publication of the Interim Report for January–June 2026.

Significant events during the quarter

• In July, it was announced that ten properties in the light industry category, across several locations, had been acquired for MSEK 456. Closing for five of the properties took place during the second quarter of 2026, and closing for three properties took place in the third quarter of 2026. Closing of the two remaining properties will take place during the fourth quarter of 2026.

Significant events after the end of the period

• In October, it was announced that nine properties in the light industry category had been acquired for MSEK 341. Closing has taken place for properties with a total value of MSEK 113. Closing for the remaining properties are expected to take place during the fourth quarter of 2026.
• The Board of Directors of Emilshus has adopted a new dividend policy with the objective to also distribute dividends to ordinary shareholders, while maintaining a focus on profitable growth.

CEO’s statement – "A stable Emilshus"

Emilshus is a distinctly growth-oriented company focused on high returns. Over the past five years, our property values have increased from approximately BSEK 4 to over BSEK 14, and its profit from property management has nearly quadrupled. Rental value increased over the same period from approximately MSEK 300 to over BSEK 1.2, meaning that we have achieved a healthy risk spread. In light of the scope and stability that Emilshus has built up, the Board of Directors has, with a maintained focus on profitable growth, adopted a new dividend policy with the objective to also distribute dividends to ordinary shareholders.

Emilshus has not previously distributed any dividends to its ordinary shareholders. Instead, the company’s cash flow has been re-invested into its operation in order to grow its property portfolio, thereby diversifying its rental income. Given the substantial strengthening of this cash flow, we now have the opportunity to combine continued profitable growth while also paying a dividend to ordinary shareholders, which aligns with our core philosophy of creating shareholder value. We believe that this will also promote strengthened interest in Emilshus and its ordinary share. This new dividend policy means that the total dividend to ordinary and preference shareholders shall amount to approximately 25% of profit from property management. The dividend on preference shares will not be affected by this change. This new dividend policy is in effect as of the 2026 fiscal year and will serve as the basis for the Board of Directors’ dividend proposal to the 2027 Annual General Meeting.

Growth with good profitability
Income increased 29% over the first nine months of the year to MSEK 831. Profit from property management rose 23% during the same period to MSEK 374. Profit from property management per ordinary share, for both the period and LTM, increased 15%. Operating cash flow during the period posted growth of 24% and totaled MSEK 345.

Profit from property management per ordinary share during the third quarter increased 14% compared to the year-earlier quarter, and operating cash flow rose 22%.

Focus on property management
Activity levels in letting remained good during the quarter, and we concluded a number of renegotiations and new lettings, thereby supporting our high, stable occupancy rate of 95%.

In 2026, we have focused on expanding and strengthening our property management organization in pace with the company’s robust growth over the past year. At heart, it is a question of offering attractive premises and ensuring that our tenants not only stay, but thrive. The Skåne and Östergötland property management offices, which were established over the past year, play a key role in driving continued growth in these expanding regions – which together now account for 33% of the total property value.

Investments in growth
Emilshus continued to grow through acquisitions during and after the third quarter, and with our most recently announced acquisitions, our total property value is now BSEK 15.

The acquisitions we announced in July encompass ten attractively located properties in the light industry category that are a good fit for Emilshus’s strategy. These are fully leased properties of good quality that generate strong cash flows and have stable tenant structures. Six of these properties are located in the Öresund region. After the end of the period, additional acquisitions of high-yielding properties in Skåne and Östergötland were made for MSEK 341.

The forecast regarding the profit from property management for the full year 2026 is raised from MSEK 495 to MSEK 500.

Looking forward
Emilshus’s stable tenant base, high-yield properties and healthy earnings provide a solid foundation in the prevailing market situation with its steep yield curve. At the same time, a more challenging market could present business opportunities for Emilshus. With available capital and strong financing options, we are seeing potential for continued growth through selective acquisitions of properties in the right locations and with the right level of returns.

We are continuing to build a stable Emilshus.

Växjö, October 2026
Jakob Fyrberg, CEO

Report presentation
Telephone conference (only in Swedish)
When: Thursday October 15, 09:00 a.m.
To call in and ask questions call: +46 8 5016 3827, then enter Meeting ID: 852 3505 7849 #
To ask the CEO/CFO a question, please press *9 on the phone.

The presentation is webcasted (only in Swedish)
Link to the webcast:
https://www.finwire.tv/webcast/emilshus/q3-2026/

The webcast will be available at www.emilshus.com following the conference call.

For more information, please contact:
Jakob Fyrberg, CEO
E-mail: jakob.fyrberg@emilshus.com
Telephone: +46 (0)70-593 95 96

About Emilshus
Emilshus is a property company rooted in the business culture of Småland that acquires, develops and manages high-yield commercial properties, with southern Sweden as its core market. The company’s property portfolio at September 30, 2026 totaled 1,321 ksqm of lettable area distributed among 274 properties with an emphasis on light industry and big-box and grocery retail. Emilshus’s ordinary share and preference share are listed on Nasdaq Stockholm.

Emilshus - Storängsgatan 7 – 352 36 Växjö – www.emilshus.com