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 IR@publicproperty.no.

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.