DK Resi Topco 2 K/SAktiv

Business reviewThe parent company’s principal activities are to carry on investment, business and associated activities. The principal activities of the group companies are acquisition, sale and letting out of properties. The group is focussed on delivering the highest quality service and operations for our tenants and local communities over the long-term. Copenhagen is the center of our work and investments, and we recognise the responsibility we have in contributing to the positive development of the city. Our top priority is providing responsive and professional management through a strong organisation, while bringing new high-quality, environmentally sustainable units to the market and supporting local communities. The goal is to offer modern, attractive and sustainable housing and tenancies that meet today's standards and our tenants' expectations, whilst ensuring preservation of the unique cultural heritage of Copenhagen's traditional housing stock. The group maintain, renovate and develop the properties we own and manage to the highest standard. All to ensure that the group - now and in the future - can offer attractive housing and tenancies to our tenants and create places and homes where they want to live.

Financial review The group's income statement for the year ended 31 December 2025 shows a loss of TDKK 565,988, and the balance sheet at 31 December 2025 shows negative equity of TDKK 1,884,783.It is the management’s assessment that the company and the group has sufficient capital resources, including liquidity, for its continued operations in the coming financial year. Furthermore, it is the management's assessment that operations for the coming financial years will be able to generate profits or contribution of additional capital can be obtained, which will reestablish the share capital.2025 confirms the positive development in Kereby's portfolio. The company's gross profit increased by 23% from DKK 181 million to DKK 224 million. The improvement is primarily driven by lower vacancy rates, increased rental income, and reduced operating costs. This progress is the result of the ongoing investments we have made in the properties – to date more than DKK 1.4 billion. A significant portion of the company's investments are expensed and depreciated in accordance with the company's accounting policies, and as a result, value increases are largely not reflected in the properties' book value but do enhance the long-term market value of the properties. The profit before tax of DKK -483 million is impacted by financial expenses to group enterprises of DKK 278 million and depreciation of DKK 138 million. The underlying operating performance continues to improve, and we are pleased with

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