Steen & Strøm is a member of the Klépierre Group, the European leader in shopping malls with an exclusive focus on continental Europe. The Group delivered continued year-on-year growth in the first quarter of 2026.

• With steady consumption patterns and sustained leasing momentum, the Group’s fundamentals remain well anchored, amid a volatile macroeconomic environment. • Strong start to the year with Q1 retailer sales up 4.4% and footfall up 1.6% year-on-year. March retailer sales up 4.2% year-on-year • Leasing volumes up 16% year-on-year, supporting rental income and occupancy • Klépierre confidently reaffirms its guidance for full-year 2026 and expects to achieve a minimum of €1,130 million in EBITDA and at least €2.75 in net current cash flow per share

In the first three months of the year, Klépierre delivered:

• Net rental income up 2.8% on a reported basis led by: o Like-for-like net rental income up 2.6% driven by operating efficiencies and mall income growth, outpacing indexation by 180 basis points o Positive contribution from the Casamassima (Bari, Italy) acquisition at the end of 2025

• 4.9% rental uplift on renewals and relettings; occupancy rate up 40 basis points year-on-year to 96.9%

• 2.7% growth in EBITDA

• On February 26, 2026, the Group issued €200 million in new senior notes across two outstanding bond lines, at an average spread of 75 bps, a 3.1% blended yield and a 7-year average maturity

• No additional refinancing needs this year, following the repayment of the February 2026 bond

• Net debt at €7,475 million, net debt-to-EBITDA at 6.8x, average cost of debt at 1.9% and hedging rate at 100% for 2026

• Acquisition from its JV partner of the remaining 50% stake in Aqua Portimão (Portugal), a leading and fast-growing mall in the western Algarve region

• Cash distribution of €1.90 per share: interim dividend of €0.95 per share paid on March 10, 2026, with the balance of €0.95 per share to be paid on July 7, 2026

Read the full press release here.