Selvaag Bolig ASA: Q2 2026: Record-high sales and strong profitability

Selvaag Bolig sold homes for a record-high NOK 4.2 billion in the first half of the year, the company's highest sales value ever recorded for a first half. In the second quarter, 187 homes were delivered to buyers. Adjusted EBITDA, including Selvaag Bolig's share of joint venture projects, was NOK 258 million in the quarter.

So far this year, Selvaag Bolig has sold 568 homes for NOK 4,216 million. Net sales, i.e., adjusted for Selvaag Bolig's share of joint venture projects, amounted to 530 homes for NOK 3,888 million in the first half of 2026. Of these, 105 homes were booking agreements in Sweden, with a total value of NOK 1,038 million.

-- The sales value in the first half of the year was the highest in the company's history, despite a still challenging market. Several new sales launches in the second quarter, including Fornebu Sentrum, Bergen and Stavanger, contributed to the strong sales. The sales have made it possible to start construction of several new projects. At the end of the quarter, we had homes under construction with a total sales value of NOK 8.1 billion, which will secure results in the coming years, says CEO Sverre Molvik.

Selvaag Bolig started construction of 290 homes in the second quarter. At the end of the quarter, the company had 1,126 homes under construction with a total sales value of NOK 8.1 billion. 61 percent of these homes had been sold at the end of the quarter, and 69 percent of the homes scheduled for completion in 2026 had been sold.

-- The results for the quarter demonstrate the importance of attractive projects, disciplined land acquisitions and continued cost control. This contributes to strong profitability in a market that remains challenging, says Molvik.

-- Due to the continued uncertain macroeconomic outlook, the board has decided not to pay a dividend for the first half. Dividends for the full year will be assessed in February 2027 based on the results for the year and the market outlook. The company's policy of paying a dividend of at least 60 percent of profit remains unchanged, says Molvik.

A webcast of the presentation can be viewed from 08:30 here (https://qcnl.tv/p/lmyU3n75bxE4wBtJ0TfuWQ).

Key figures Q2 2026 (Q2 2025)

* Gross sales* amounted to 205 homes (117) with a sales value of NOK 1,653 million (771), of which 33 booking agreements** for NOK 354 million * Net sales amounted to 172 homes (106) with a sales value of NOK 1,373 million (690), of which 33 booking agreements** for NOK 354 million * Net construction starts of 290 homes (171), net completions of 242 (18), and net deliveries of 187 homes to buyers (40) * 1,126 homes under construction (1,165) with a combined sales value of NOK 8,056 million (8,223) * 61 percent of homes under construction (62) were sold at the end of the quarter * 41 completed homes unsold at the end of the quarter (40) * IFRS***: Operating revenues of NOK 1,451 million (261), EBITDA adjusted for financial expenses NOK 255 million (15), corresponding to a margin of 17.6 percent (5.6) * Proforma IFRS*** including Selvaag Bolig's share of joint venture projects: Operating revenues of NOK 1,493 million (349). EBITDA adjusted for financial expenses NOK 258 million (25), corresponding to a margin of 17.3 percent (7.2) * Earnings per share: NOK 0.95 (0.02) * NGAAP****: Operating revenues NOK 1,004 million (599). EBITDA of NOK 100 million (57). This corresponds to a margin of 10.0 percent (9.5) * Proforma NGAAP**** including Selvaag Bolig's share of joint venture projects: Operating revenues NOK 1,099 million (839). EBITDA of NOK 120 million (102), corresponding to a margin of 10.9 percent (12.2)

Key figures H1 2026 (H1 2025)

* IFRS***: Operating revenues of NOK 1,574 million (428), EBITDA adjusted for financial expenses NOK 238 million (-5), corresponding to a margin of 15.1 percent (-1.1) * Proforma IFRS*** including Selvaag Bolig's share in joint ventures: Operating revenues of NOK 1,681 million (543). EBITDA adjusted for financial expenses NOK 252 million (17), corresponding to a margin of 15.0 percent (3.1) * Earnings per share: NOK 0.75 (-0.20) * NGAAP****: Operating revenues NOK 1,993 million (1,277). EBITDA of NOK 201 million (121), corresponding to a margin of 10.1 percent (9.5) * Proforma NGAAP**** including Selvaag Bolig's share of joint venture projects: Operating revenues NOK 2,159 million (1,568). EBITDA of NOK 239 million (174). This corresponds to a margin of 11.1 percent (11.1) * Gross sales amounted to 568 homes (313) with a sales value of NOK 4,216 million (2,015), of which 105 booking agreements** for NOK 1,038 million. * Net sales amounted to 530 homes (275) with a sales value of NOK 3,888 million (1,728), of which 105 booking agreements** for NOK 1,038 million. * Net construction starts of 456 homes (354), net completions of 242 homes (18), and net deliveries of 211 homes to buyers (74)

* Units sold comprise sales contracts entered into with customers pursuant to the Norwegian Housing Construction Act and the Tenant-Ownership Act (Bostadsrättslagen) in Sweden, as well as booking agreements in Sweden. In accordance with IFRS, they are recognised as income on delivery. Net sales include Selvaag Bolig's share of joint venture projects. Gross sales include all homes in joint venture projects. ** Booking agreements are used for sales of new collective flats in Sweden, where the buyer pays a booking fee to ensure priority to a new home. Booking agreements are non-binding, and if the buyer withdraws, part of the booking fee will be refunded. The booking agreement is converted to a binding purchase agreement prior to construction start. *** Pursuant to IFRS, all profit is recognised when the homes are delivered to the buyer. Profit pursuant to IFRS accordingly derives primarily from homes which began to be built roughly two years ago. **** The accounts pursuant to Norwegian generally accepted accounting principles (NGAAP) utilise the percentage of completion method. This means that profits are recognised on the basis of construction progress and sales in the projects. That presents ongoing value creation in the company.

------------------------------------------------------------------------------ About Us Selvaag Bolig ASA is a residential development company that manages the entire value chain from acquisition of land to completed residential and urban areas. The company represents a continuation of Selvaag's 75-year history and experience and has several thousand homes under development in growth areas in and around the largest cities in Norway and Sweden. Selvaag Bolig offers a broad variety of housing types, including the lifestyle concept Selvaag Pluss®, which features homes with shared spaces and services. www.selvaagboligasa.no/en

------------------------------------------------------------------------------

This release was distributed by Line Lian Mjell, EVP marketing, strategy and sustainability, Selvaag Bolig ASA.

------------------------------------------------------------------------------ For further information: Sverre Molvik, CEO Telephone: +47 401 00 585, e-mail: smo@selvaagbolig.no

Christopher Brunvoll, CFO Telephone: +47 98 82 92 22, e-mail: chbr@selvaagbolig.no

Line Lian Mjell, EVP marketing, strategy and sustainability Telephone: +47 975 39 225, e-mail: limj@selvaagbolig.no

This information has been submitted pursuant to the Securities Trading Act § 5-12 and MAR. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-08-06 07:00 CEST.

More information: Access the news on Oslo Bors NewsWeb site

679116_SBO 2026 Q2 Presentation.pdf 679116_SBO 2026 Q2 Rapport ENG.pdf