<img src="https://ml-eu.globenewswire.com/Resource/Download/e12de107-6b89-4e76-864a-9045967b90e1?size=2" nborder="0" align="left" hspace="5" vspace="5" title="SATO Oyj" alt="SATO Oyj"/>SATO Corporation, Interim Report 23 October 2026 at 9:00 am EET This is a summary of SATO’s interim report for January–September, which has been published in full as an appendix to the release and at www.sato.fi/en. The figures in the report are unaudited. Summary for 1 Jan – 30 Sep 2026 (1 Jan – 30 Sep 2025) <ul type="disc"><li style="margin-bottom:6pt;">The economic occupancy rate was 95.5% (95.2).</li><li style="margin-bottom:6pt;">Net sales totalled EUR 244.1 million (235.5).</li><li style="margin-bottom:6pt;">Net rental income was EUR 169.1 million (166.2).</li><li style="margin-bottom:6pt;">Profit before taxes was EUR 69.2 million (80.3).</li><li style="margin-bottom:6pt;">The unrealised change in the fair value of investment properties included in the result was EUR -4.1 million (7.3).</li><li style="margin-bottom:6pt;">Housing investments amounted to EUR 131.6 million (219.4).</li><li style="margin-bottom:6pt;">Invested capital at the end of the review period was EUR 4,945.2 million (4,864.2).</li><li style="margin-bottom:6pt;">Return on invested capital was 3.7% (4.0).</li><li style="margin-bottom:6pt;">Equity was EUR 2,727.0 million (2,663.3) or EUR 32.12 per share (31.37).</li><li style="margin-bottom:6pt;">Earnings per share were EUR 0.65 (0.76).</li><li style="margin-bottom:6pt;">A total of 613 rental apartments (968) were acquired. </li></ul> Summary for 1 Jul – 30 Sep 2026 (1 Jul – 30 Sep 2025) <ul type="disc"><li style="margin-bottom:6pt;">The economic occupancy rate was 96.0% (95.8).</li><li style="margin-bottom:6pt;">Net sales totalled EUR 82.1 million (80.9).</li><li style="margin-bottom:6pt;">Net rental income was EUR 62.1 million (61.9).</li><li style="margin-bottom:6pt;">Profit before taxes was EUR 24.2 million (35.1).</li><li style="margin-bottom:6pt;">The unrealised change in the fair value of investment properties included in the result was EUR -6.0 million (5.2).</li><li style="margin-bottom:6pt;">Housing investments amounted to EUR 14.8 million (207.5).</li><li style="margin-bottom:6pt;">Earnings per share were EUR 0.23 (0.33).</li><li style="margin-bottom:6pt;">1 rental apartment (968) was acquired. </li></ul> President and CEO Antti Aarnio SATO's economic occupancy rate developed positively during the period under review and was 95.5% (95.2) at the end of the period. The improvement in the occupancy rate is primarily driven by strong operational performance, which we are continuously developing. In summer, B2B sales reached a record-high level. Demand for rental housing has been increased by factors including the ongoing data centre investments particularly in Espoo. SATO’s average rent per square metre remained unchanged and was EUR 18.51 per m2 per month (18.51) at the end of the review period. Net sales increased to EUR 244.1 million (235.5) and net rental income was EUR 169.1 million (166.2). The number of vacant rental apartments in the Helsinki Metropolitan Area has continued to decrease, but the development is slow and the oversupply in the market persists. During the summer, we inspected all SATOhome balconies with fibre cement railings. The renovations of the around 1,500 balconies taken out of use as a precautionary measure will be completed by the end of the year. SATO’s new accounting system was launched successfully on 1 October as the final part of SATO’s major system overhaul. The general uncertainty in the housing market continued despite the upturn seen in the Finnish economy. Uncertainty about personal finances and the Finnish economy has increased the popularity of rental housing in all income categories. Antti Aarnio, President and CEO of SATO Key figures <table style="border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-collapse: collapse; width:100%; border-collapse:collapse ;"><tr><td style="width:20.04%;;border-bottom: solid black 1pt ; vertical-align: bottom ; "> </td><td style="width:9.99%;;border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">1–9/2026</td><td style="width:9.99%;;border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">1–9/2025</td><td style="width:9.99%;;border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: bottom ; ">1–12/2025</td></tr><tr><td style="width:20.04%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">Net sales, EUR million</td><td style="width:9.99%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">244.1</td><td style="width:9.99%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">235.5</td><td style="width:9.99%;;border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">316.1</td></tr><tr><td style="width:20.04%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">Number of rental apartments, pcs</td><td style="width:9.99%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">27,313</td><td style="width:9.99%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">26,787</td><td style="width:9.99%;;border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">26,786</td></tr><tr><td style="width:20.04%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">Investment property, EUR million</td><td style="width:9.99%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">5,366.9</td><td style="width:9.99%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">5,215.3</td><td style="width:9.99%;;border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">5,237.4</td></tr><tr><td style="width:20.04%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">Housing investments, EUR million</td><td style="width:9.99%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">131.6</td><td style="width:9.99%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">219.4</td><td style="width:9.99%;;border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">239.8</td></tr><tr><td style="width:20.04%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">Average rent at the end of the review period, €/m2/month</td><td style="width:9.99%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">18.51</td><td style="width:9.99%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">18.51</td><td style="width:9.99%;;border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">18.48</td></tr><tr><td style="width:20.04%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">Cash earnings (CE), EUR million</td><td style="width:9.99%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">64.7</td><td style="width:9.99%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">64.3</td><td style="width:9.99%;;border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">91.8</td></tr><tr><td style="width:20.04%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">Shareholders' equity, EUR million</td><td style="width:9.99%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">2,727.0</td><td style="width:9.99%;;border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">2,663.3</td><td style="width:9.99%;;border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">2,685.2</td></tr></table> Outlook European and Finnish economic development is governed by geopolitics. The war in the Middle East and its repercussions are slowing down economic growth and accelerating inflation in the euro area. This has kept market rates on an upward trajectory since late February. The Middle East crisis has pushed up the energy prices in particular and, consequently, accelerated inflation. To keep price increases in check, the European Central Bank has raised the deposit facility rate twice in line with market expectations. The Finnish economy has picked up this year. The autumn interim forecast of the Bank of Finland shows that GDP will increase by 1.7% in 2026 and by 1.6% in 2027. Inflation is projected to be 2.4% this year and fall to 1.4% next year as energy prices will decline. Despite the projected growth, the labour market is recovering slowly and Finland’s general government finances still remain in deficit. Unemployment and the general uncertainty are still reflected in weak consumer confidence, but business confidence has nevertheless remained above the long-term average. In its economic outlook published in early October, the Confederation of Finnish Construction Industries (CFCI) forecasts that construction activity will grow by 2% this year and 4% next year. However, growth is uneven: infrastructure and commercial construction are gaining momentum, particularly from data centre projects, while residential construction still remains at a historically low level. According to CFCI, housing production will continue to decline this year and is not expected to return to growth next year. Investor demand remains low, and publicly subsidised housing production is contracting sharply. Modest growth in non-subsidised owner-occupied housing construction is not enough to offset the decline in other housing starts. However, CFCI believes that the conditions for a recovery are beginning to emerge. Population growth has remained relatively strong, particularly in the Helsinki Metropolitan Area, while the number of owner-occupied and rental apartments available on the market has started to decrease. Led by the Ministry of Finance, the group on economic trends in construction estimated in September that there will be no growth in housing starts in 2026. Recovery is expected to begin next year as the oversupply will gradually decline. The number of vacant apartments in the Helsinki Metropolitan Area has continued to decline. However, progress remains slow, and the oversupply of rental homes and the intense competition for good tenants will continue. The imbalance between supply and demand will not enable any large-scale commencement of newbuild rental housing construction or rent increases reflecting rising costs. In the years ahead, the imbalance in the rental housing market will be corrected when state-subsidised housing production decreases. According to the forecast by the CFCI, construction starts for subsidised apartment buildings will fall to around 3,000 apartments in 2027, compared with more than 9,000 in 2024. According to Statistics Finland’s October figures, 1.04 million households lived in rental homes at the end of 2025, an increase of 11,000 from the previous year. Over the past ten years, the number of households living in rental homes has grown by around 200,000. The largest increase in absolute terms has been among households where the oldest member is aged 30 or over. In total, 1.6 million people lived in rental homes at the end of 2025. The attractiveness of rental housing is increased by changes in the population’s life situations, mobility of work, and economic uncertainty. In addition, the high interest rate level and general economic uncertainty reduce willingness for large investments related to owner-occupied housing. The convenience and flexibility of rental housing are emphasised among young adults in particular. It is important to continue urban development and land use planning that support diverse housing options. This will help ensure that growth centres will meet the residents’ diverse needs in the future, too. In line with its majority shareholder’s operating model, SATO Corporation will not publish guidance on its 2026 earnings. The parent company of Balder Finska Otas AB is Fastighets AB Balder, which is quoted on the Stockholm Stock Exchange. For more information, please contact: CEO Antti Aarnio, tel. +358 20 134 4200, antti.aarnio@sato.fi CFO Markku Honkasalo, tel. +358 20 134 4226, markku.honkasalo@sato.fi Enclosures Interim Report 1 January to 30 September 2026 Interim Report presentation 1 January to 30 September 2026 Distribution Euronext Dublin, main media, www.sato.fi/en SATO Corporation SATO Corporation is an expert in sustainable rental housing and one of Finland’s largest rental housing providers. SATO owns nearly 27,500 rental homes in the Helsinki Metropolitan Area, Tampere and Turku. SATO aims to provide excellent customer experience and a comprehensive range of urban rental housing alternatives with good access to public transport and services. SATO invests profitably, responsibly and with a long-term view. We increase the value of our assets through investments, divestments and repairs. In 2025 SATO celebrated its 85th anniversary. <a href="https://www.globenewswire.com/Tracker?data=92XtmAHlHgEUKWFkdwDSozxQ9bqNb3vEiX4yLnBRf5hDvdb5mgsu6VDL5FTkWz9KA8KMttvmbm4oCsEVJZSVaZ-f772ywj_Q8bl7bhO7a2U=" rel="nofollow" target="_blank" title="">www.sato.fi/en</a> 
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SATO Corporation Interim Report 1 January–30 September 2026: Occupancy rate increased due to strong operational performance

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