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

Another satisfying quarter, despite a global economic slowdown customer demand remains strong

• YTD Profit from property management1 of 478 msek, up 13% and 8% in the quarter YoY.
• 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

• 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

• 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.

market and other non-cash items.

Highlights

3 Total operations Development Markets

Results and balance overview

2019, Q3

4

885,1 681,9 478 851,8 203,2 24 5,2 174,7 663,4 79,9 209,7 100 200 300 400 500 600 700 800 900 1000 1100 1200 Rental income Property expenses NOI Central admin Other Financial net Income from property mgmnt. Value changes property Value changes derivatives Taxes Net income 12,68 per share 22,59 per share 150 kr/sqm 653 kr/sqm Surplus ratio 77%

Income statement – Period (YTD)

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+13% +12% +28%

2019 Q3: SEK M

805,4 610,5 422,8 665,3 194,9 23,6 11,9 176 270,7 55,1 83,3 100 200 300 400 500 600 700 800 900 1000 1100 1200 Rental income Property expenses NOI Central admin Other Financial net Income from property mgmnt. Value changes property Value changes derivatives Taxes Net income 11,27 per share 17,74 per share Surplus ratio 76% 155 kr/sqm 639 kr/sqm

2018 Q3: SEK M

Statement of financial position

SEK M 2019 Q3 2018 Q3

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

6

Operational review

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200 400 600 800 1 000 1 200 2015 2016 2017 201809 2018 201909 Msek

Rental income Profit from property management

Cash flow remains strong

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52% 54%

market. Profit surplus 54%

YTD

Portfolio characteristics 1 (2)

Regions # of properties Lettable area tsqm Fair Value Msek Rental value Msek Economic letting ratio % Contractual annual rent, SEK M Surplus ratio % 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

46% 15% 39%

Asset size breakdown

< 10k sqm 10k - 20k sqm > 20k sqm

Portfolio characteristics 2 (2)

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14% 18% 8% 16% 44%

By value

Gothenburg Helsingborg Jönköping Malmö Stockholm

45% 55%

Tenant concentration by Contractual income

10 biggest tenants Rest

12% 46% 47%

Letteble space types, by area

Terminals Distribution Logistics warehouse

54% 31% 8% 7%

# of tenants per property

1 tenant 2-5 tenants 6-10 tenants 11- tenants

Well-spread and stable customerbase

Property value and yield

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2 000 4 000 6 000 8 000 10 000 12 000 14 000 16 000 18 000 20 000

2015 2016 2017 Q3 2018 2018 Q3 2019

Msek

Assets IFRS property value

EPRA NIY 6,0% EPRA NIY 6,0%

Rental market

Region Gothenburg 787 kr/sqm Region Malmö 832 kr/sqm Region Helsingborg 578 kr/sqm Region Stockholm 719 kr/sqm Stockholm 943 kr/sqm Örebro 551 kr/sqm Region Jönköping 559 kr/sqm

(Numbers indicate rental value per sqm) 13 Letting ratio

96%

600 620 640 660 680 700 720 200 400 600 800 1 000 1 200 1 400 2015 2016 2017 Q3 2018 2018 Q3 2019 Msek

Rental value Rental value per sqm

Leasing activity and contract maturity

14 WALE

5 y

• 80,0
• 60,0
• 40,0
• 20,0

0,0 20,0 40,0 60,0 80,0 100,0 120,0

Net rental by contractual value Signed new Moved out Net

0% 11% 17% 12% 14% 8% 39% – 50,0 100,0 150,0 200,0 250,0 300,0 350,0 400,0 450,0 500,0 2019 2020 2021 2022 2023 2024 2025+

Maturity - Contractual annual rent

15

A history of growth

EPRA NAV per share Profit from property management per share Return on equity

4 8 12 16 20

50 100 150 200 250 5 10 15 20 25 30

Return on equity Average

Capitalization

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Capitalization

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0,0% 0,5% 1,0% 1,5% 2,0% 2,5% 3,0% 3,5% 4,0% 0,0% 20,0% 40,0% 60,0% 80,0% 100,0% 2015 2016 2017 Q3 2018 2018 Q3 2019

LTV & Cost of debt LTV, % (left)

• Avg. cost of debt

35,7% 31,6% 32,3% 33,2% 33,2% 33,5% 2 000 4 000 6 000 8 000 10 000 12 000 14 000 16 000 18 000 20 000 2015 2016 2017 Q3 2018 2018 Q3 2019

Capital structure Interestbearing debt Other liabilities Equity

Year Debt maturity loans Interest maturity incl. derivatives msek Share% Interest rate including Margin% msek Share% Interest rate including Margin% 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 4-5 y 0.00 0.00 5- y 58 1 2.41 2,766 31 3.74 8,987 100 1.28 8,987 100 2.55

Funding structure

18 Debt maturity 1,6 y Interest maturity 2,4 y

76% 15% 9% Funding source

Bankloans Bonds Commercial papers

Capital deployment

Focus on development

19

Asset acquisitions

Capital deployment YTD

Acquisitions/Divestments

Property Transfer Letteble area (sqm) Region Property value (MSEK) Välingen 2 Q1 2019 3 430 Stockholm 20,4 Sockret 7 Q2 2019 2 707 Malmö 9,2 Muttern 6 Q2 2019 7 800 Gothenburg 52,1

82

Development capex

505

Divestments

• Transactions

Capex

Book value, MSEK Rosersberg 11:81, Sthlm Speed logistics Total investment: 65 MSEK Finalized: Q2 2020

Development projects in progress

Sothönan 3, Katrineholm Postnord Total investment: 36 MSEK Finalized: Q3 2020 21

580

(Boxes represents a selection of ongoing projects) Sunnanå 12:52, Malmö DHL Total investment: 150 MSEK Finalized: Q4 2020 Plantehuset 3, Helsingborg Nowaste Total investment: 132 MSEK Finalized: Q4 2020 Sunnanå 12:52, Malmö Multi Tenant distrubution Total investment: 358 MSEK Finalized: Q3 2019 Plantehuset 3, Helsingborg PostNord Total investment: 250 MSEK Finalized: Q1 2020 Norra varalöv 31:11, Helsingborg Total investment: 193 MSEK Finalized: Q4 2020 Plantehuset 3, Helsingborg Nowaste Total investment: 101 MSEK Finalized: Q4 2019

130

>900

Remaining investments, MSEK Added m(2)’

(After Q3)

Outlook and cases

We develop logistics positions

22

Sustainability trends in Catena’s business

Sustainability manager hired Q1, 2019

Environmental Social Governance

• Increasing building certifications
• Miljöbyggnad Silver, target in

all developing projects. Five projects ongoing Q3, 2019

• Green Building, 7 properties
• Energy efficiency projects
• Installation of photovoltaic cells

where suitable

• Corporate culture

underpins our sustainability efforts

• Recruting and retaining

talent

• eNPS above 40
• Partnership with

customers, municipalities and suppliers

• Commitment to prevent

corruption

• Strive for diversity

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0% 5% 7% 12% 13% 16% 16% 24%

Books/Media Toys Building materials Fashion Home decoration/Furniture Consumer electronics Sports/leisure Groceries

Trends in E-commerce

E-commerce growth Q2 2019

13%

Physical stores E-commerce

10% 90%

674 bn (2018) 77 bn (2018)

Sourze: Postnord E-barometern, Svensk dagligvaruhandel

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Total investment: 969 MSEK Total Rental value: 71 MSEK Gross yield: 7,3% Total sqm: 79 400 Time of production: 2015-2020

Logistics Position

Sunnanå

PHASE 5 (201907) Customer: DHL Express Distribution Investment: 150 msek ERV: 10,5 Msek SQM: 10 000 10 year contract Final: Q3 2020

SVENSK CATER MULTI TENANT CHEFS CULINAR DHL FREIGHT

Logistikposition

Tostarp E-city Engelholm Total investment: 572 MSEK Total Rental value: 48 MSEK Gross yield: 8,4 % Total sqm: 80 800 Time of production: 2015-2020

PHASE 3 (201909) Customer: Boozt E-commerce warehouse Investment: 193 msek NOI: 12 msek SQM: 22 800 11 year contract

DREAM LOGISTICS, E-COMMERCE WAREHOUSE BOOZT, E-COMMERCE WAREHOUSE

Logistikposition

Tostarp Total investment: 753 MSEK Total Rental value: 55 MSEK Gross yield: 7,3% Total sqm: 82 400 Time of production: 2011-2020

Logistics Position

Tostarp

PHASE 5 (201910) Customer: Nowaste E-commerce warehouse Investment: 132 msek RV: 10 msek SQM: 18 000 5 year contract

NOWASTE, E-COMMERCE WAREHOUSE NOWASTE, AUTOMATED HIGH BAY OMNICHANNEL POSTNORD, TERMINAL

Logistikposition

Tostarp

Energy efficiency projects

Solsten 1:102

Ongoing Project: Photovoltaic cells Annual savings: appr. 220,000 kWh Installed Project: Goethermal heating Annual savings: appr. 980,000 kWh

Customer: Oriola Total investment: 7,2 MSEK E annual savings: 920 TSEK E reduced kwh: 1 200 000 kWh Property sqm: 42 437

ORIOLA, HIGH BAY WAREHOUSE

Magneten 6 Umeå Sqm: 42’ Investment land: 37 MSEK

Potential, future development projects

Land-bank tsqm

2,800

Potential lettable area tsqm

1,000

Potential investment MSEK

8,000

Ånsta 1:1 Stockholm Syd Sqm: 450’ Investment land: 315 MSEK Örebro (JV, 34%) Törsjö Sqm: 700’-900’ Investment land: 315 MSEK Kärra 1:9 Ängelholm Sqm: 600’ Investment land: 43 MSEK Sunnanå 1:20, 1:21, 5:16 Malmö Sqm: 115’ Investment land: 32 MSEK 29 (The presented landlots represents a selection of our outstanding landbank)

Q&A

30

The leading property company in logistics.