The annual general meeting of Catella AB was held today, on Wednesday 10 May 2023. The annual general meeting resolved in accordance with all proposals presented by the board of directors and the nomination committee.

The annual general meeting resolved to re-elect the board members Johan Claesson, Tobias Alsborger, Johan Damne and Anneli Jansson. Samir Kamal and Sofia Watt were elected as new board members. Johan Claesson was re-elected as chairman of the board of directors.

The annual general meeting adopted the income statements and balance sheets for the parent company and the group and resolved to discharge the board members and the chief executive officer from liability for the preceding financial year.

The annual general meeting further resolved to distribute dividend of SEK 1.20 per share, corresponding to a total of SEK 106,018,286.40, and that the remaining profit shall be carried forward. The record date for the dividend was set to Friday 12 May 2023. Payment to the shareholders is expected to be made from Euroclear Sweden AB on Wednesday 17 May 2023.

The annual general meeting also resolved:

• to determine the remuneration to the board members to SEK 615,000 to the chairman of the board of directors and SEK 380,000 to each of the other board members and, for work in the committees, SEK 140,000 to the chairman of the board of directors’ audit committee and SEK 108,000 to each of the other two members and SEK 43,000 to the chairman of the board of directors’ remuneration committee and SEK 33,000 to the other member.
• to elect KPMG AB as new auditor for the period until the end of the next annual general meeting. The authorized public accountant Johanna Hagström will be appointed as auditor-in-charge.
• that remuneration to the auditor shall be paid in accordance with approved invoices.
• to approve the board of directors’ remuneration report for the preceding financial year.
• to authorize the board of directors to, on one or more occasions during the period until the end of the next annual general meeting, with or without deviation from the shareholders’ preferential rights, resolve on a new issue of shares of Class A and/or Class B, in accordance with the terms and conditions of the board of directors’ proposal.
• to authorize the board of directors to, on one or more occasions during the period until the end of the next annual general meeting, resolve on repurchase and transfer of the company’s own shares of Class A and/or Class B, in accordance with the terms and conditions of the board of directors’ proposal.

For further information, please contact:

Michel Fischier
CFO
+46-8-463 33 86
michel.fischier@catella.se

A cautious transaction market affected all Catella’s business areas during the quarter. We continued to work on the next generation of funds, investments, and mandates aimed at supporting growth in assets under management and profitability going forward. With a strong financial position we are well-equipped to continue growing the company through investment in digitalisation and capital raising, exploration of M&A opportunities, opportunistic investments together with partners, and the launch of new sustainability-profiled products in a new market environment.

The transaction market was still cautious at the start of the year, which affected all three of Catella’s business areas. Transaction volumes fell 67 percent year-on-year, the biggest decrease since the financial crisis in the late 2000s. Before buyers’ and sellers’ expectations align, we must work with these market conditions and continue to focus on long-term value creation.
With a strong 2022 behind us and a solid financial position, we are well-positioned to continue growing the company through investments in digitalisation and capital raising, evaluation of M&A opportunities, opportunistic investments, and the launch of new products.

In April, we welcomed Gianluca Romano, who will help to strengthen our capacity to raise capital. With Gianluca on our team, we can further utilise our unique local expertise, long experience and European investment strategy to promote future growth. With an extensive background as an advisor to institutional investors and asset managers, he will sharpen Catella’s strategy and work with global institutional investors.

Stable assets under management in an inactive investment market
Assets under management totalled SEK 141 Bn at the end of the quarter, an increase of 12 percent year-on-year, but unchanged since the start of the year. Our shares in Catella Hospitality Europe were divested during the quarter, resulting in an outflow of SEK 2 Bn in assets under management. The decision to sell the platform to partners was based on profitability not meeting our targets. The transaction generated a profit of SEK 5 M and will contribute to a stronger underlying operating margin going forward.

The sluggish transaction market also resulted in lower variable income in the business area. However, due to the growth in previous years, the underlying income base from fixed management fees is strong. Operating profit of more than SEK 30 M proves the resilience of our underlying business model, with solid profitability despite the slow transaction market. Despite a limited inflow of new capital, we view 2023 with a certain optimism as we continue to have a large pipeline of transactions to complete, and capital commitments of approximately SEK 10 Bn at the end of the quarter.

Stronger focus on liquidity and completion of existing investments
During the quarter, Catella signed an agreement relating to the sale of a logistics facility in Vaggeryd. The sale will generate a single-digit profit in SEK M, which will be recognised in the second quarter and further materially strengthen our liquidity.
In today’s market characterised by uncertainty, low activity, and repricing, we expect divestments of completed projects to be limited during 2023. However, thanks to our financial position, we can afford to delay the divestment of completed and cash flow positive properties. At the same time, we are flexible and ready to utilize liquidity for other investment opportunities that we are actively working with currently.

We have not invested in any new projects since the start of the year and are instead continuing to develop existing projects, albeit at a slower pace. At the end of the quarter, Principal Investments’ investments in six countries totalled approximately SEK 1.2 Bn in 10 projects.

A weak quarter for the advisory services market
The first quarter is seasonally the least active from a historical perspective. This quarter was exceptionally weak, with transaction volumes plummeting by 67 percent in Europe and by a hefty 75 percent in Sweden. The lack of activity in the market also caused Corporate Finance’s income to fall to SEK 66 M (88). However, the loss was slightly reduced by decisions taken in the first quarter 2022 to focus our operations to five countries.

Well-positioned for long-term value creation
Although profit in the quarter was hampered by a slow transaction market, we have further strengthened our liquidity at Group level and still have plenty of capital to increase our fund investments. In a continued turbulent market, we benefit from our strong financial position and strong local asset management expertise, which is more important now than ever. This enables us to continue building on the value potential of our pan-European platform and opportunities to scale our offering, broaden our customer relationships, and build long-term value.

Christoffer Abramson, CEO and President
Stockholm, 2023-05-05

Catella presents the Interim Report and answers questions today at 10 a.m. CET. To participate, go to https://financialhearings.com/event/46281

For further information, please contact:

Michel Fischier
CFO
+46-8-463 33 86
michel.fischier@catella.se

Catella has today appointed Michel Fischier as Chief Financial Officer (CFO). Michel Fischier has been a member of Group Management since 2021 as Head of Investor Relations and Group Communications, and since February 2023 served as acting CFO.

”I am pleased that Michel accepted the role as our new CFO. We have conducted a solid recruitment process and are pleased that we have found the best candidate internally. His broad experience and expertise both meet the professional and personal qualities we sought after for our continued growth journey,” says Catella’s President and CEO Christoffer Abramson.

Michel Fischier has held the position as Head of Investor Relations and Group Communications and member of Group Management since 2021. Before joining Catella, he served as Vice President Investor Relations at SAS and has previously held leading roles in IR and communications at Hoist Finance and Skandia, among others.

In connection with Michel Fischier’s appointment as CFO, Veronica Hjelte has been appointed acting Head of Group Communications. Veronica Hjelte has worked at Catella since 2019, most recently in the role of Communications Specialist.

For more information, please contact:

Christoffer Abramson
President and CEO
+46 8 463 33 25
christoffer.abramson@catella.se

Michel Fischier
CFO
+46 8 463 33 86
michel.fishier@catella.se

Today, on 4 May, 2023, the Annual General Meeting was held in Arise AB (publ). A summary of the adopted resolutions follows below. All resolutions were adopted with the required majority of votes.

At the Annual General Meeting on 4 May, 2023 in Arise AB (publ) it was resolved:

• to adopt the profit and loss statement and balance sheet as well as the consolidated profit and loss statement and consolidated balance sheet,
• that dividend of SEK 1 per share shall be paid for the financial year 2022, resulting in a total dividend of SEK 44,494,235, whereby the remaining funds of SEK 719,519,302 is carried forward,
• that remuneration to the Board of Directors and its Committees will be paid with SEK 2,280,000 in total and the remuneration to the auditor was resolved to be paid in accordance with customary norms and approved invoice,
• to re-elect the Board members Johan Damne, Joachim Gahm, Eva Vitell and Mikael Schoultz and to elect P-G Persson as new Board member,
• to re-elect Joachim Gahm as Chairman of the Board,

• to re-elect the registered public accounting firm Öhrlings Pricewaterhousecoopers AB as the company’s auditor for the period until the end of the first Annual General Meeting held after 2023 whereby Öhrlings Pricewaterhousecoopers AB has informed that Ulrika Ramsvik will continue to be the responsible auditor,
• to approve the Board of Directors’ remuneration report for the financial year 2022,
• to adopt instructions and rules of procedure for the next Nomination Committee,

• to authorize the Board of Directors to resolve on issues of ordinary shares and/or preference shares and issues of convertibles convertible to ordinary shares and/or preference shares,
• to authorize the Board of Directors to resolve on acquisition of own shares,
• to authorize the Board of Directors to resolve on divestment of own shares.

The members of the Board of Directors and the CEO were discharged from liability for the financial year 2022.

In accordance with the proposal from the Nomination Committee, five ordinary Board members were elected: Johan Damne (re- election), Joachim Gahm (re-election), Eva Vitell (re-election), Mikael Schoultz (re-election) and P-G Persson (new election). Joachim Gahm was re-elected as the Chairman of the Board.

The remuneration for members of the Board of Directors and its Committees shall amount to a total of SEK 2,280,000 (SEK 1,892,000 previous year). SEK 735,000 is remuneration to the Chairman and SEK 300,000 is remuneration to every other member of the Board who is not employed by the company. SEK 285,000 in total is to be paid in remuneration for work in the Audit Committee (of which the Chairman receives SEK 115,000 and every other member SEK 85,000), and SEK 60,000 in total is to be paid for work in the Remuneration Committee (of which the Chairman receives SEK 60,000).

The Annual General Meeting resolved, in accordance with the proposal from the Nomination Committee, that a Nomination Committee shall be appointed before coming elections and remunerations. It shall be comprised of five members who shall be appointed by the four largest shareholders at the beginning of October together with the Chairman of the Board.

The Annual General Meeting resolved, in accordance with the proposal from the Board of Directors, to approve the Board of Directors’ remuneration report for the financial year 2022.

The Annual General Meeting resolved, in accordance with the proposal from the Board of Directors, to authorize the Board of Directors to, until the next Annual General Meeting, on one or several occasions, resolve on (1) issues of ordinary shares and/or preference shares and (2) issues of convertible bonds transferable to ordinary shares and/or preference shares, with or without deviation from the shareholders’ preferential rights. The authorization for the Board of Directors also includes the right to decide on issue in kind or right of set-off. Upon a resolution pursuant to the authorization and with deviation from the shareholders’ preferential rights, the total number of shares to be issued through the issue of ordinary shares and/or preference shares and/or convertible bonds transferable to ordinary shares and/or preference shares shall not exceed 10 percent of the outstanding shares in the company at the time of when the authorization is exercised for the first time (this shall not prevent convertible bonds from being combined with conversion terms which, if applied, may result in a different number of shares). The issue price shall, as a starting point, be the share’s market value at each time of issue.

The Annual General Meeting resolved, in accordance with the proposal from the Board of Directors, to authorize the Board of Directors to decide, until the next Annual General Meeting, on one or several occasions, on acquisition of no more than 1/10 of all outstanding ordinary shares from time to time with funds that can be used for appropriation of profits. The authorization includes the right to decide on exemption from the shareholders’ preferential rights. If the acquisition takes place at Nasdaq Stockholm the price shall be within the, at each time, registered price interval. It shall be possible to acquire shares in order to enable changes of the capital structure of the company, to finance acquisitions or other transactions, or otherwise for disposal or redemption.

The Annual General Meeting resolved, in accordance with the proposal from the Board of Directors, to authorize the Board of Directors to decide, until the next Annual General Meeting, on one or several occasions, on disposal of a maximum of 1/10 of all ordinary shares. The authorization includes the right to decide on exemption from the shareholders’ preferential rights, the conditions therefore and the way which the disposal takes place. It should be possible to dispose of the shares in connection with possible acquisitions or other transactions or by sale on the open market. When disposing of the shares on Nasdaq Stockholm, the price shall correspond to the current quotation.

The CEO’s presentation on today’s Annual General Meeting is available at the company’s website, www.arise.se.

Halmstad, 4 May, 2023

Arise AB (publ)

For further information, please contact

Per-Erik Eriksson, CEO Arise AB (publ), +46 702 409 902

FIRST QUARTER (1 JANUARY–31 MARCH 2023)

• Net sales for the quarter amounted to MSEK 107 (88).
• Operating profit before depreciation and amortisation (EBITDA) totalled MSEK 76 (61).
• Operating profit (EBIT) was MSEK 61 (46).
• Profit after tax totalled MSEK 52 (37), corresponding to SEK 1.16 (0.90) per share.
• Operating cash flow was MSEK 30 (67) and cash flow after investments amounted to MSEK -41 (47).
• Production generated 87 GWh (100) of green electricity with an average income of SEK 936 per MWh (756).
• In January 2023, Arise signed an agreement with Persson Invest, one of Sweden’s largest private landowners. The agreement pertains to development rights for potential wind power projects on a large portion of Persson Invest’s land, for which the company sees good potential to realise new wind power. According to the assessment from the company, the potential amounts to approximately 500 MW.
• In March 2023, Arise signed an agreement to acquire approximately 51% of the Finnish company Pohjan Voima Oy. Pohjan Voima Oy has developed a well-diversified portfolio of onshore wind and solar projects across Finland, with a project portfolio that at the time of the signing was approximately 1.7 GW.
• Including Pohjan Voima, the project portfolio increased by approximately 2.4 GW.

SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD

• In April 2023, Arise completed the previously announced acquisition of approximately 51% of the shares in Pohjan Voima Oy.

Halmstad, 4 May 2023
Arise AB (publ)