Toivo Group Plc’s Business Review 1 January–31 March 2026: A solid start for the year. (Unaudited)

Business review, 6 May 2026 at 8:00

KEY EVENTS DURING THE REVIEW PERIOD 1 JANUARY – 31 MARCH 2026

• Revenue EUR 12.2 (11.5) million.
• Contracts for 8 (81) new apartments and four social infrastructure properties were signed during the period under review.
• Construction for 15 (124) apartments were started during the period under review.
• During the period under review, 17 (39) apartments and two (0) social infrastructure properties were completed.

PROSPECTS FOR 2026

• The company expects revenue for the financial year of 1 January-31 December 2026 to be EUR 65-85 million.
• The company expects the operating profit for the financial year of
  1 January–31 December 2026 to be EUR 6–11 million.

CONSOLIDATED KEY FINANCIALS

* The portfolio includes those projects for which the company has the right to purchase the related land areas under pre-agreed conditions, such as the fulfillment of certain criteria like zoning. The value is based on management’s view of the market value of these projects when completed, assuming that all projects in the portfolio are realized. There is a risk associated with the projects that they may not achieve legally binding zoning or building permits, or that the confirmed zoning or building permit does not allow for the implementation of a project as valuable as initially estimated.

CEO MARKUS MYLLYMÄKI

The year 2026 has started with strong performance despite a challenging operating environment. Q1/2026 was another step forward for Toivo: our revenue grew by 6 percent to EUR 12.2 million, and procurement costs remained excellently in line with forecasts. New project starts are heavily weighted toward the second half of the year, and we stand on a solid foundation and are ready to execute our planned growth.

Clear positive signals are visible in the market. Demand for family apartments and first-time homes has picked up moderately, and the historically low level of production creates good conditions for price increases in the coming years. While geopolitical uncertainty and rising energy prices exert inflationary pressure, the ECB’s previous interest rate cuts have bolstered confidence, and we are well-positioned to benefit from the market turnaround.

Toivo’s strategy is working. Our three-pillar model – developer projects for owner-occupiers, residential portfolios for investors, and social infrastructure properties – has proven resilient. Currently, we have six owner-occupied housing projects, four investor-targeted projects, and six social infrastructure property projects under construction. Full control of the value chain – from development and construction to ownership and leasing – provides us with a significant competitive advantage.

Financially, we remain in strong shape. Our equity increased by 5 percent, our equity ratio stands at 44.9 percent, and our balance sheet enables prudent growth without excessive leverage. A particular highlight is the first dividend payment in the company’s history. This is a concrete demonstration of our ability to generate value for our shareholders and our confidence in the future.

Operationally, we progressed across all key areas:

Development: We signed agreements for 8 new apartments.

Construction: We commenced the construction of 15 apartments.

Sales: We entered into two new agreements for build-to-sell projects in the Helsinki area and agreed with Nuveen on the construction of one new project as part of the approximately EUR 42 million portfolio agreement announced in 2024.

I would like to warmly thank our customers, investors, partners, and the entire Toivo team for an excellent first quarter. Your trust and commitment enable us to continue delivering high-quality projects in prime locations and building sustainable value far into the future.

PRESS AND ANALYST EVENT

A public, press, and analyst event in Finnish will be held on Wednesday, May 6, 2026, at 11:00 AM as a webcast. You can participate in the webcast via the following link: https://events.inderes.com/fi/toivo/2026-q1

The report will be presented by CEO Markus Myllymäki and CFO Samuli Niemelä.
The presentation material will be published later at sijoittajille.toivo.fi and

sijoittajille.toivo.fi/en.

Toivo Group Plc

Board of Directors

Further information

Markus Myllymäki
CEO
Toivo Group Plc
Tel. +358 40 847 6206
markus.myllymaki@toivo.fi

About Toivo

Toivo is a Finnish public limited liability company established in 2015. The Company is based in Helsinki and its registered address is Gransinmäki 6, 02650 Espoo. The shares of the parent company, Toivo Group Plc, were listed on the regulated market of Nasdaq Helsinki in the summer of 2025.

Toivo is a Finnish operator specializing in construction, real estate development, and property ownership. Its mission is to transform real estate value chains and build a distinctive business model in the market. The Group develops, constructs, owns, and sells apartments, plots, social infrastructure, and commercial premises.

Toivo’s business model covers the entire real estate value chain: the development of plots and raw land, construction management, as well as the ownership, management, sale, and leasing of completed properties. Toivo’s own team of experts is responsible for the entire lifecycle of a property, from zoning to the leasing of apartments. Through this model, Toivo generates added value for its customers, shareholders, and other stakeholders.

Toivo’s strategy is to develop apartments and properties according to the Toivo concept, offering a strong development margin as well as a stable and attractive return. This enables long-term ownership of properties and the generation of higher added value for customers. Toivo is backed by a competent and experienced team of experts with a strong track record in the residential business and various sectors of the real estate industry.

In 2025, Toivo’s revenue was EUR 61.7 million and its operating profit was EUR 8.0 million.