The leadingproperty companyin logistics.

Q2 2020Joining presentation

Benny Thögersen CEO, Sofie Bennsten CFO, Anna Wallander Sustainability Manager, Peter Andersson Head of Treasury

2

Contents

1. Highlights

2. Results and balance overview

3. Operational review

4. Capitalization

5. Capital deployment

5. Focus on sustainability

6. Market and outlook

Q&A3

Resilient second quarter on the back of a stabalized market sentiment

• YTD Profit from property management1 of SEK 358,5 million, up 13 percent YoY.

• EPRA NAV per share of 208, up 14 percent YoY.

• Solid letting ratio at 96 percent with WALE of close to 5 years.

• Leased SEK 22 million worth of new leases, net of SEK 19 million.

• LTV at 55,7 percent down 30bps YoY and cost of debt of 2.4 percent

• EPRA NYI of 5.9 percent down 20bps YoY.

Intensive second quarter with several projects being finalized

• Market activity indicates a close to pre-covid state

• Piece of promising land in Jönköping was aquired waiting for development plan to come in place

• High pace on certifying buildings and installing photovoltaic cells

Credit markets signaled improved sentiment

• Transactions in the quarter indicates high demand from investors

• Credit spreds was getting tighter amid hopes for a quicker economic recovery

• Online spending is accelerating further pushing supply chains closer to end consumers

1 Profit from property management comprises profit adjusted for value changes (realized and unrealized) related to properties, derivative mark to market and other non-cash items.

Highlights

4

Tota

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ion

sD

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opm

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Mar

kets

Covid-19The impact from the Coronavirus has had limited effect on Catena so far. Still, the set-up program prepared for in the first quarter to cope with the situation is still in progress and of criticalimportance. So far:

• Limited impact on first and second quarter outcome with 7 million of credit loss on receivables.

• In the second quarter market sentiment have shifted back and forth about the speed ofeconomic recovery.

• The financial position of Catena has proved strong enough to keep funding activities stable.

Results and balance overview

2020, Q2

6

622,3

500,3358,5 323,5

122 17 4,4120,4

76,7

23,987,8

0100200300400500600700800

Rentalincome

Propertyexpenses

NOI Centraladmin

Other Financialnet

Incomefrom

property mgmnt.

Valuechangesproperty

Valuechanges

derivatives

Taxes Net income

9,51per

share

8,58per share

661kr/sqm

131kr/sqm

Surplusratio80%

585

455,1 317,9 507,5

129,9 16 4,7116,5

395

70,4135

0100200300400500600700800

Rentalincome

Propertyexpenses

NOI Centraladmin

Other Financialnet

Incomefrom

property mgmnt.

Valuechangesproperty

Valuechanges

derivatives

Taxes Net income

8,43 per share

13,46 per share

654kr/sqm

145 kr/sqm

Surplusratio78%

Income statement – Period (YTD)

7

+13%+10%

2020 Q2: SEK M

2019 Q2: SEK M

Statement of financial position

SEK M 2020 Q2 2019 Q2Total assetsInvestment properties 17,222.5 15,570.4Goodwill 503.0 503.0

Other assets 599.5 736.3

Opening cash and cash equivalents 472.7 266.9

Total assets 18,797.7 17,076.6

Total shareholders’ equity and liabilitiesEquity 6,395.8 NAV 208 SEK/share 5,606.1 NAV 182 SEK/share

Property loan 9,591.5 2.4%, Cost of debt 8,719.9 2,5%, Cost of debt

Other liabilities 2,810.4 2,750.6

Total shareholders’ equity and liabilities 18,797.7 17,076.6

8

Operational review

9

Rental growth, like-for-like

10

2020 Q2

Like-for-like 1.9 %Project developments 2.4 %Acquisitions 1.8 %Divestments -0,9 %One-off effects 1,2 %Total 6,4 %

585,0 10,7

5,5

14,0 11,0 7,0622,3

0,0

100,0

200,0

300,0

400,0

500,0

600,0

700,0

Income2019Q2

Acquisitions Divestments Projects like-for-like Oneoffeffect

Income2020Q2

Msek

0

200

400

600

800

1 000

1 200

1 400

2015 2016 2017 2018 Q2 2019 2019 Q2 2020

Msek

Rental income Profit from property management

High share of income retained

11

54 %

1 Profit from property management comprises profit adjusted for value changes (realized and unrealized) related to properties, derivativesmarked to market.

Profit surplus58 %

12

Logistics/transport /recycling Food and beverage Home/construction

/packaging Healthcare>4%>9%>23%>40%

Well reputed and diversifiedcustomer base

Property value and yield

13

0

2 000

4 000

6 000

8 000

10 000

12 000

14 000

16 000

18 000

20 000

2015 2016 2017 2018 Q2 2019 2019 Q2 2020

Msek

Assets IFRS property value

EPRA NIY

5.9 %EPRA NIY

6.1 %

(Numbers indicate rental value per sqm)

Region Gothenburg 753 kr/sqm

Region Malmö896 kr/sqm

Region Helsingborg592 kr/sqm

Region Stockholm 729 kr/sqmStockholm

942 kr/sqmÖrebro

582 kr/sqm

Region Jönköping 569 kr/sqm

14

Letting

ratio

96 %

Rental market

600

620

640

660

680

700

720

0200400600800

1 0001 2001 400

2015 2016 2017 2018 Q22019

2019 Q22020

Msek

Rental value Rental value per sqm

Leasing activity and contract maturity

15

WALE

5 y

0,7%

14,5%11,2%

14,9%10,7% 9,9%

38,0%

0

100

200

300

400

500

600

2020 2021 2022 2023 2024 2025 2026+

Maturity - Contractualannual rent

-40,0

-30,0

-20,0

-10,0

0,0

10,0

20,0

30,0

40,0

50,0

2018Q1

2018Q2

2018Q3

2018Q4

2019Q1

2019Q2

2019Q3

2019Q4

2020Q1

2020Q2

Net rental by contractual value

Moved in Moved out Net

0,7%

14,5%11,2%

14,9%10,7% 9,9%

38,0%

0

100

200

300

400

500

600

2020 2021 2022 2023 2024 2025 2026+

Msek

Maturity - Contractualannual rent

Capitalization

16

Capitalization

17

0,0%

0,5%

1,0%

1,5%

2,0%

2,5%

3,0%

3,5%

4,0%

0%

20%

40%

60%

80%

100%

2015 2016 2017 2018 Q22019

2019 Q22020

LTV & Cost of debt

LTV, % (left) Avg. cost of debt

35,7%

31,6%32,3%

33,2%32,8% 35,6%

34,0%

02 0004 0006 0008 000

10 00012 00014 00016 00018 00020 000

2015 2016 2017 2018 Q22019

2019 Q22020

Capital structure

Interestbearing debt Other liabilities Equity

Year Debt maturity loans Interest maturity incl. derivatives

msek Share% Interest rate includingMargin%

Msek Share% Interest rate includingMargin%

0-1 y 2,169.5 23 1.5 3,455.5 36 1.41-2 y 1,853.0 19 1.5 1,252.2 13 4.12-3 y 2,913.5 30 1.5 258.0 3 1.33-4 y 2,495.7 26 1.4 500.0 5 3.24-5 y - - - 1,220.8 13 3.05- y 159.8 2 0.8 2,904.9 30 2.7

9,591.5 100 1.5 9,591.5 100 2.4

Funding structure

18

Debt

maturity

2.4 y

Interest

maturity

3.4 y

85%

11%

1% 3%

Funding source

BankloansBondsCommercial papersDansish mortage bonds

Capital deployment

19

Asset acquisitions(MSEK)

Capital deployment YTD

Acquisitions/Divestments

Property Transfer Letteblearea (sqm)

Region Property value(MSEK)

Lokesvej 18 Q1 2020 4,176 Malmö (DK) 96.5Kometvej 15 Q1 2020 4,484 Malmö (DK) 79.7Magasinet 3 Q1 2020 21,240 Stockholm 130.0

307

Development capex(MSEK)571

Divestments-

Tran

sact

ion

sC

apex

20

Book value, MSEK

Rosersberg 11:81, SthlmSpeed logisticsTotal investment: 65 MSEKFinalized: Q3 2020

21

990

(Boxes represents a selection of ongoing projects)

Sunnanå 12:52, MalmöDHLTotal investment: 150 MSEKFinalized: Q4 2020

Plantehuset 3, HelsingborgNowasteTotal investment: 132 MSEKFinalized: Q3 2020Norra varalöv 31:11,

ÄngelholmBooztTotal investment: 193 MSEKFinalized: Q4 2020

110

>530Remaining investments, MSEK

Adds m(2)’

Plantehuset 3, HelsingborgPostNordTotal investment: 250 MSEKFinalized: Q3 2020

Sunnanå 12:52, MalmöMulti Tenant distrubutionTotal investment: 358 MSEKFinalized: Q4 2020Several tenants in place

Development projects in progress

Broby 57:1 & 4:32, ÅstorpSeafrigo Nordic - DistributioncenterTotal investment: 147 MSEKFinalized: Q3 2021

Focus on sustainability

22

Key sustainability figures, Q2 2020Energy• Reduction of energy use per sq m with six percent compared to same

period last year

• 96 percent of Catena’s energy is fossil free

• Nine photovoltaic plants installed and another eight in progress. Estimated production of all plants is approx. 5 000 MWh/year

Energy consumption per sqm

kWh/sqm Jan-may 2020

Jan- may2019

Diff, %

Electricity 29 32 -10%Heating 22 23 -1%Total energy intensity 51 54 -6%

GHG emissions (energy related)Source Jan-may

2020, ton CO2e

Jan-may 2019,

ton CO2e

Diff, %

Electricity 1 312 1 345 -2%Gas and oil 97 635 -85%District heating 2 132 2 167 -2%Total 3 541 4 146 -15%

Greenhouse Gas

• Reduced GHG emissions from energy related activities with 15 percentcompared to same period last year

Environmental Building Certification

• One percent of total area certified with Miljöbyggnad 3.0 Silver.

• Eight percent of total area under process of being certified with Miljöbyggnad 3.0 Silver and Miljöbyggnad iDrift Silver.

Miljöbyggnad SilverCertified Ongoing

Number of buildings 2 10Area, sqm 20 250 155 841% of total area 1% 8%

23

Miljöbyggnad / Environmental Building

Miljöbyggnad 3.0/3.1

• One of Sweden’s most recognized environmental building certification standards

• A tool to create the best possible conditions for designing and constructing new buildings that are sustainable over time

• Focus areas: Energy, Indoor Environment, Material

• Three levels: Bronze, Silver, Gold

2 new constructions are certified and Catena is currently working on certififying two new constructions and seven existing buildings

Miljöbyggnad iDrift

• New environmental certification standard for buildings older than 3 years

• Released in June 2020

• A tool to improve conditions and environmental performance of existing buildings through their operation and management

• Focus Areas: Indoor Environment, Health, Climate Impact, Resources, State

• Three levels: Bronze, Silver, Gold

Catena is currently working on certification for 1 existing building

24

Market and outlook

25

”During April e-commerce grew by 44 percent in comparison to last year”

26

PostNord E-barometern

Thomas Karlsson, CEO of Element Logic Sweden commenting on Boozt’sexpansion of the worlds largest AutoStore in Ängelholm

”The worlds largest Autostore installation is still the world´s largest. E-commercecontinues to grow at a rapid rate. The flexibility, scalability and efficiency thatcharacterize Autostore will give Boozt a continued superior competitive advantageahead”.

”Our investment to establish a global smart logistics network, including international shipping routes and warehousing facilities, will provide businesses with greater operational efficiency, cost savings, transparency and accuracy in their supply chain management”

Cainiao President Wan Lin commenting on Cainiao doubling the floor space of itsoverseas warehouses to 2m sqm (Alizila, Alibaba group)

Katrineholm

Postnord

Total investment: 36 MSEKYield: 6,5%Total sq m: 2,000Contract duration: 10 years

28

Acquisition,

Jönköping

Acquisition of land (April -20)

Land (sq m): 190,000Building rights (sq m): 90,000Development plan is ongoing

29

Investment

Åstorp

Acqusition/Development project (May -20)Distribution facilityTotal investment: 147 MSEKNet yield: 6,1%Total lettable sqm: 10,800Contract maturity: 12 years

LandvetterHärrydaSqm land: 210’Investment land: Allocation lotPending zoning plan

Sockret (Malmö harbour)MalmöSqm land: 40’Investment land: 32 MSEKZoning plan activated

(The presented landlots represents a selection of our outstanding landbank)

Magneten 6UmeåSqm land: 42’Investment land: 37 MSEKZoning plan activated

Land-bank tsqm

5,000

Potential lettable

area tsqm

1,750

Potential investment

MSEK

14,000

Stockholm SydNykvarn/SödertäljeSqm land: 450’Investment land: 315 MSEKPending zoning plan

Örebro (JV, 34%)TörsjöSqm land: 920’Investment land: 315 MSEKPending zoning plan

E-CityÄngelholmSqm land: 850’Investment land: 43 MSEKPending zoning plan

30

Logistics position JärnaSödertäljeSqm land: 1,000’Investment land: 100 MSEKPending zoning plan

Logistics position SunnanåMalmöSqm land: 110’Investment land: 32 MSEKPending zoning plan

The landbank Includes JV agreements, and variousconditional options and contracts.

Land in JönköpingJönköpingSqm land: 190’Investment land: Not announced

Potential, future development projects

Q&A

31

Benny Thögersen CEO, Sofie Bennsten CFO, Anna Wallander Sustainability Manager, Peter Andersson Head of Treasury

The leadingproperty companyin logistics.