Eik

ABOUT THE COMPANY

Founded in 2002, Eik Fasteignafelag is an Iceland-based real estate company with its headquarters located in Reykjavík. Since its inception, Eik has grown substantially and has developed a strong reputation in the real estate sector. Despite being affected by the global financial crisis of 2008, Eik remained strong and underwent a period of restructuring and adjustment. This allowed for Eik to emerge from the crisis with a more refined investment strategy, emphasizing long-term growth, stability, and diversification in its property portfolio. On April 29, 2015, Eik listed on the Main Market of Nasdaq Iceland.

Today, Eik specializes in commercial real estate but has grown to encompass residential properties and investments in its portfolio as well. With around 500 tenants in 650 rental units, Eik provides a range of housing options and through its size and favorable financing supplies fair rental terms to its clients. Its values of professionalism, initiative, lightness, and reliability provide a framework for its interactions with customers. Its properties range from offices, warehouses, and retail spaces.

As Eik looks to the future, the company has noted that it intends to focus on streamlining its current asset portfolio, increasing its dividend payouts to shareholders, and exploring potential opportunities for revenue growth within its properties. After Heimar withdrew an offer for a merger with Eik that was made in April of 2023, Eik is now focused on revenue growth within its existing portfolio. Every year, the company publishes a social report on environmental issues, social aspects and governance at the company. The goal of the company's environmental policy is to reduce pollution and the release of greenhouse gases in connection with its operations. In this way, the company assumes responsibility towards society, the local environment and future generations.

SUSTAINABILITY

Eik is a real estate company dedicated to working in harmony with the environment and society. The company focuses on knowing the source of emissions and the effects that the company's activities have on the environment in the long and short term. Negative environmental impacts caused by the company's activities are kept to a minimum and efforts are made to compensate for them through carbon offsetting. The company is constantly working to make the company's real estate operations more sustainable and supports tenants in taking steps towards greener workplaces. During construction, maintenance and planning, the company is guided by the efficient use of resources and the circular economy. Through targeted actions in the form of environmental goals, the company intends to:

Reduce greenhouse gas emissions and aim for carbon neutrality.
Promote that customers are able to take steps towards more sustainable workplaces and business life.
Contribute to the journey towards ecological construction in Iceland.

Oak reduces the emission of greenhouse gases and aims for carbon neutrality by

Reduce emissions from the operation of vehicles owned by the company and stop the use of fossil fuels completely by 2030.
Reduce emissions due to office energy consumption (scope 2) by 7.5% until 2030.
Reduce the total amount of office waste according to the number of employees. The sorting rate of waste from the company's office will be 50% in 2024 and 60% in 2026.
Maintaining a balance between emissions caused by scopes 1, 2 and 3 and sequestration through the purchase of carbon units.
Promote that employees use eco-friendly means of transport to and from work and on work-related errands.
Take environmental considerations into account when purchasing products and services.
Continue to accurately and transparently map emissions of all scopes.

Eik contributes to customers being able to take steps towards more sustainable workplaces and working life by

Have facilities for sorting waste in the company's real estate as an example. The classification rate of waste from the buildings of the fé layer will be 40% in 2024 and 50% in 2025.
Promote good energy use in the company's properties by monitoring and comparing energy consumption. We work systematically to replace older lighting with energy-efficient solutions.
Have facilities for bicycles and other eco-friendly vehicles available, as well as changing facilities in crowded workplaces.
Install more electric charging stations at the company's properties.

Eik contributes to the journey towards ecological construction in Iceland by

Make life cycle analyzes for new buildings and base material selection and construction methods on those analyses.
Environmental certification for the operation of one building will be completed in 2024.
Build structures and renovate buildings with flexible use in mind. Pay close attention to the maintenance and operation of human resources so as to promote their longer service life.
Use durable and ecological building materials as much as possible and pay attention to the reuse of building materials.
Introduce the company's priorities in environmental matters to contractors, both designers and developers.

Eik has a positive effect on the environment by reducing the ecological footprint of its own operations, but Eik's opportunity to benefit the environment lies largely in reducing the ecological footprint of its portfolio as much as possible and making it easier for the company's tenants to take ecological steps. The Icelandic government has submitted an action plan to promote a reduction in the emission of greenhouse gases. (Council of Iceland. 2020. Climate action plan, Actions by the Icelandic government to promote a reduction in greenhouse gas emissions until 2030). Climate impact of the construction industry and ecological construction. A special action plan has been drawn up to reduce the climate impact of the construction industry and promote ecological construction. (Housing and Infrastructure Agency for Building a Greener Future. 2022. Roadmap to Eco-Friendly Construction 2030). In the guide to ecological construction, 74 actions are presented that contribute to ecological construction. Examples are also presented of actions that individual parties within the civil engineering sector can and must take in order to achieve the goals of green civil engineering by 2030. Eik realtymfélag has and can contribute in all action categories, especially during the period of use of structures.