Eik fasteignafélag hf.: Condensed Interim Financial Statement for the first six months 2026

The Interim Consolidated Financial Statements of Eik fasteignafélag hf. for the period 1 January to 30 June 2026 were approved by the Company's Board of Directors and CEO on 18 August 2026.

Attached is the interim report, comprising the Interim Consolidated Financial Statements for the first six months of 2026 together with more detailed information on the Company's operations than is provided in this release.

The main results are as follows:

• Income from operations amounted to ISK 7,150 million.
  • Of which rental income amounted to ISK 6,330 million.
• Operating profit before fair value change and depreciation (EBITDA) amounted to ISK 4,578 million.
• Total comprehensive profit amounted to ISK 3,794 million.
• Net cash from operations amounted to ISK 2,516 million.
• Book value of investment properties amounted to ISK 182,251 million.
• Change in fair value of investment properties amounted to ISK 6,285 million.
• Sales gain on investment properties amounted to ISK 115 million.
• Cash and cash equivalents amounted to ISK 5,854 million.
• Interest-bearing debt amounted to ISK 114,514 million.
• Loan-to-value ratio (net interest-bearing debt / value of real estate, building permits and plots) was 59.6%.
• Earnings per share amounted to ISK 1.12.
• Economic occupancy rate was 95.1%.
• Weighted indexed interest was 3.78%.
• Weighted unindexed interest was 8.97%.

In case of any discrepancy in the English and the Icelandic versions of this announcement or the Financial Statements, the Icelandic version shall prevail.

Hreiðar Már Hermannsson, CEO:

"The Company's performance has been strong so far this year, with robust growth in both revenue and EBITDA year-on-year.

In the second quarter, the Company completed the acquisition of Hádegismóar 8, a property of approximately 4,000 square metres let on a long-term triple net lease to a single tenant. The property is a clear example of the Company's strategy for developing its portfolio: large properties, strong tenants and long lease terms. The Company also sold its site at Járnháls 4.

Eik's new subsidiary, Vigur Kredit, purchased its first mortgage bond during the quarter, secured by a second-priority lien on a property that the Company considers would be a good fit for its own portfolio. This is the first concrete example of the financing approach outlined in the letter to shareholders in March — using the Company's position to provide second-lien financing secured by commercial real estate — put into practice.

Bond issuance has continued in line with the Company's issuance plan. The Company now offers three products suited to different investor needs, all of which have been well received.

The Company's outlook for 2026 has been revised upward in light of changes to the portfolio and other factors affecting performance in the second half of the year."

Operations of the period

Eik's operations remained strong in the first half of 2026, with EBITDA at the upper end of the Company's earnings guidance. Income from operations amounted to ISK 7,150 million, of which rental income was ISK 6,330 million, equivalent to an increase of 21.3% from the same period in 2025. Operating expenses amounted to ISK 2,572 million.

Operating income before fair value changes, sales gain and depreciation and amortisation (EBITDA) increased by 24% compared with the same period last year, to ISK 4,578 million. Adjusted for one-off items in 2025, the increase was approximately 21% year-on-year. Profit before income tax amounted to ISK 4,744 million, and the Group's total comprehensive profit for the period amounted to ISK 3,794 million.

The Net Operating Income (NOI) ratio (i.e. operating profit before fair value change and depreciation, as a percentage of rental income) was 71.8% in the first six months of 2026, compared with 69.6% in the same period last year.

Financial Position

Total assets of the Company amounted to ISK 196,105 million as at 30 June 2026, of which investment properties were valued at ISK 182,251 million and assets for own use amounted to ISK 5,373 million. The Company's equity amounted to ISK 54,828 million at the end of the period. The Company's loan-to-value ratio (net interest-bearing debt / value of real estate, building permits and plots) was 59.6%. At the Company's Annual General Meeting on 16 April 2026, it was approved to pay a dividend to shareholders for the 2025 financial year in the amount of ISK 3,732.74 million, to be paid in two instalments. The payment date for the first instalment was 28 April 2026, and the second instalment will be paid on 14 October 2026. The Company's equity reflects the above liability.

Total liabilities of the Company amounted to ISK 141,277 million as at 30 June 2026, of which interest-bearing debt accounted for ISK 114,514 million and the income tax liability for ISK 16,498 million.

So far this year, the Company has issued three new bond series. Bonds with a total nominal value of ISK 4,300 million were issued in the series EIK 120266, ISK 5,980 million in EIK 150531, and ISK 4,080 million in EIK 29 1. The Company also repurchased bonds with a nominal value of ISK 2,720 million in the series EIK 050726, which reached final maturity in July 2026 and has now been repaid in full.

The Company's Portfolio

At the end of June, the Company completed the acquisition of Hádegismóar 8 for ISK 2.6 billion. As part of the transaction, a 20-year lease agreement was signed with Brimborg. The acquisition is expected to have a positive annualised impact of approximately ISK 195 million on the Company's EBITDA.
The Company has sold three properties this year: Suðurlandsbraut 20, the site at Járnháls 4, and a residential plot at Fossvegur 3 in Selfoss. The combined sales price of the properties was approximately ISK 1,270 million, and the sales gain amounted to ISK 115 million.

Updated Outlook

The Company has updated its outlook for 2026 to reflect changes in its portfolio, the estimated cost of share option agreements, and other factors affecting performance. The Company expects EBITDA for 2026 to be in the range of ISK 9,330–9,610 million.

The outlook is based on the consumer price index for July 2026.

Presentation meeting

An open presentation meeting for market participants will be held on Wednesday, 19 August 2026, at 8:30 AM at the Company's offices on the 18th floor of Smáratorg 3. A light breakfast will be offered from 8:00 AM. Hreiðar Már Hermannsson, CEO, and Lýður H. Gunnarsson, CFO, will present the results and answer questions following the presentation.

The meeting will also be streamed online, and registration for the virtual meeting can be done here:

https://vimeo.com/event/6116178/ae551f3242

After registering, participants will receive an email with further information.

Market participants can send questions for the meeting to the email address fjarfestatengsl@eik.is. Questions will be answered following the presentation.

For further information:

Hreiðar Már Hermannsson, CEO, hreidar@eik.is
Lýður H. Gunnarsson, CFO, lydur@eik.is, tel. 820-8980

Attachment

• 1H 2025 Condensed consolidated interim financial statement