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SEPTEMBER 2018 COMP COMPANY NY PRESENTATIO ION 1 | | INTRODUCTION TODA DAYS S P PRESENTERS A AND A D AGE GENDA DA FREDR DRIK IK L LEO, C , CEO Joined in 2017 as EVP Construction, 1. Introduction background from NCC

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1 | |

COMP COMPANY NY PRESENTATIO ION

SEPTEMBER 2018

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TODA DAY’S ’S P PRESENTERS A AND A D AGE GENDA DA

  • 1. Introduction
  • 2. Financials Q2
  • 3. Business & Strategy Update
  • 4. Q&A

FREDR DRIK IK L LEO, C , CEO Joined in 2017 as EVP Construction, background from NCC Construction

INTRODUCTION

HELENA B BLOM, C , CFO & & E EVP S Services & & Scaffold lding ng Joined in 2018, background from ABB and SSAB

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In brief

”COMMON S SENSE F FROM D DALARNA”

ByggPartner is a Swedish construction company with the competence to serve its customers throughout the entire construction process, creating value through personal commitment, sound expertise and common sense.

INTRODUCTION

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STRATEGY GY A AND T D TARGE GETS

Strengthen partnering position

  • Continue to build on strong position and reputation in partnering
  • Develop our partnering model, organization & core processes

Organic growth in focus markets

  • Leverage market leading position in Dalarna, grow in Stockholm, Uppsala and Mälardalen
  • Convert our orderbook into profitable growth
  • (Opportunistic acquisitions)
  • Increased awareness and reputation among clients and suppliers
  • Strengthen recruitment proposition among prospective employees

Leverage brand recognition

EBIT IT M MARGIN GIN

5%

%

MID- ID-TERM T TARGE GET SALES GR GROWTH

10-1

  • 15%

%

MID- ID-TERM T TARGE GET OV OVER

50 50%

%

TARGE GET P PAYOUT UT R RATIO IO

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INTRODUCTION

CORE C CONSTRUC UCTIO ION C COMPANY

SNAPSHOT O OF O OUR UR O ORDE DER B BOOK | S | SOCIA IAL, C , COMMERCIA IAL & & R RENTAL P PROPERTIE IES Skattsedeln, Stockholm Partneringprojekt Hefab Danvikshem, Stockholm Partneringprojekt Stiftelsen Danvikshem

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INTRODUCTION

CORE C CONSTRUC UCTIO ION C COMPANY

SNAPSHOT O OF O OUR UR O ORDE DER B BOOK | S | SOCIA IAL, C , COMMERCIA IAL & & R RENTAL P PROPERTIE IES Vallaskolan, Sala Partneringprojekt

  • Kv. Nätet, Eskilstuna

på uppdrag Lundbergs

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INTRODUCTION

PEOPLE B BUS USIN INESS| C | CUS USTOMERS & & E EMPLOYEES

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INTRODUCTION

Ac Active acr across

  • ss thr

hree attracti attractive b busine ness a areas… …and nd fo four attracti attractive geographi hies

Stockho kholm lm Uppsala la Mäla lardale len n

BYGGP GGPARTNER 2 2018 VS VS 2 2016

Source: Annual Report 2016 and Q2 Interim Report 2018

Da Dala larna na

52%

(36%) (36%)

48% 48%

(6 (64%) 4%)

86% Cons nstruction n

− Housing, trade/logistics, industrial facilities, offices, public buildings

11 11% Cons nstruction s n services

− Smaller construction projects

3% 3% Scaffold lding ng

− JUF Byggnadsställningar AB1

ü Market leader

% % of

  • f Sale

les 2018 L LTM

14 14%

(28%) (28%)

24 24%

(25%) (25%)

10 10%

(1 (10%) 0%)

85%

20 2016 6

11% 4%

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FIN INANCIA IAL UP UPDA DATE Int Interim r m report Jan-J n-Jun 2 n 2018

CASH-FLOW 40,6 MSEK (53,4) EBIT MARGIN 3,0% (3,1) SALES GROWTH +29% (-7)

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JAN-J

  • JUN

UN 2 2018 IN IN S SUM UMMARY

  • All time high orderbook 2 010 MSEK

(1 703)

  • Strong order intake 1 198 MSEK

(849)

  • Revenues increased by 29 %
  • Increased operating profit, EBIT

margin was equal

  • Strong cash flow
  • Stable market prospects
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IM IMPORTANT E EVENTS Q Q2

  • New partnering agreement with Falu kommun, Falun
  • Prolonged partnering agreement with Stockholmshem Stockholm
  • New partnering agreement with Sala kommun, Sala.
  • New partnering agreement HEFAB Fastighets AB, Stockholm
  • New board member: Elisabeth Norman. Elisabeth has a long experience from

real estate business.

IM IMPORTANT E EVENTS Q Q3

  • Fredrik Leo is the new CEO from August 1
  • New Partnering agreement with Sala kommun
  • Appointment Helena Blom EVP Services & Scaffholding
  • Björn Gruvsjö recruited and appointed Procurement and Calculation Manager
  • Partnering projects with Arboga Kommun moved into Fas 2 (236 MSEK & 78

MSEK)

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12 | |

877 873 735 1,018 1,2253 1,094 1,468 1,150 1,086 1,383 1,334 1 384 1,384 1 615 1 500 1 454 1 452 1 616 1 801 646 794 770 1,088 1,130 1,006 1,292 1,286 1,115 1,213 1,404 1,404 1,465 1 616 1 704 1 621 1 601 1 838 2 010 500 700 900 1 100 1 300 1 500 1 700 1 900 2 100 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Order intake, LTM¹ Order book¹

SEKm

STABLE O ORDE DER IN INTAKE A AND B D BACKLOG G DE DEVELOPMENT

Gr Growing ng o

  • rder int

ntake a and nd backlo klog… … … p provides s stable le r revenu nue g growth o h over t time me

SEK 2,0 ,010m m

  • r
  • rder

der bo book

871 889 927 950 1,045 1,062 1,090 1,069 1,101 1,176 1,223 1 265 1,247 1 212 1 200 1 238 1 317 1 394 1 495 800 900 1 000 1 100 1 200 1 300 1 400 1 500 1 600 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 IFRS Q4 2016 IFRS Q1 2017 IFRS Q2 2017 IFRS Q3 2017 IFRS Q4 2017 IFRS Q1 2018 IFRS Q2 2018 IFRS Revenue, LTM²

SEKm

12% C CAGR GR

Q4 2 2013 – – Q Q2 2 2018

Source: (1) Unaudited management accounts; (2) ByggPartner’s audited annual reports and reviewed interim reports; (3) Differs from reported figure (SEK 1,529m) in audited annual report due to reporting principles

Q4 2013 – Q2 2018

CAGR

Order intake Order book

16 % 27 %

, , , , , , ,

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331,8 320,6 421,4 200 250 300 350 400 450 500 2016 2017 2018 657,1 610,8 788,7 100 200 300 400 500 600 700 800 900 2016 2017 2018

Q2 | MSEK

1246,7 1316,8 1494,8 200 400 600 800 1000 1200 1400 1600 2016 2017 2018 LTM

ACC | MSEK LTM | YEAR | MSEK Q2 | MSEK ACC | MSEK LTM | YEAR ON YEAR MSEK

523,2 408,2 593,5 500 1000 1500 2000 2500 100 200 300 400 500 600 700 2016 2017 2018 Order intake MSEK Order book MSEK 946,4 849,4 1198,4 500 1000 1500 2000 2500 200 400 600 800 1000 1200 1400 2016 2017 2018 Order intake MSEK Order book MSEK 1597 1452,5 1801,5 500 1000 1500 2000 2500 200 400 600 800 1000 1200 1400 1600 1800 2000 2016 2017 2018 LTM Order intake MSEK Order book MSEK

ORDE DER IN INTAKE & & O ORDE DER B BOOK REVENUE UES

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REVENUE UE & & E EBIT IT M MARGIN GIN – – T TRACK R RECORD D

Source: ByggPartner’s audited financial and annual reports and reviewed interim reports Note: (2) Financial year from July 1–June 30; (3) Financial year includes 18 months, from July 1, 2006–December 31, 2007

474 418 561 949 789 601 695 1,294 1,168 871 1,045 1,126 1 247 1 317 1 495 6% 5% 7% 7% 5% 9% 2%

  • 3%
  • 5%

3% 4% 5% 4% 3% 3%

  • 6%
  • 4%
  • 2%

0% 2% 4% 6% 8% 10% 200 400 600 800 1 000 1 200 1 400 1 600 2003/ 2004² 2004/ 2005² 2005/ 2006² 2006/ 2007 (18mth)³ 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 LTM 2018

Revenue EBIT margin

IFRS

MSEK

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Q2 | MSEK

22,9 78,1 65,3 10 20 30 40 50 60 70 80 90 2016 2017 2018 LTM

ACC | MSEK LTM | YEAR | MSEK Q2 | MSEK ACC | MSEK LTM | YEAR ON YEAR MSEK

9,6 10,1 11,4 0,5 1 1,5 2 2,5 3 3,5 8,5 9 9,5 10 10,5 11 11,5 12 2016 2017 2018 EBIT MSEK Gross Margin (%) 26 19,1 23,4 0,5 1 1,5 2 2,5 3 3,5 4 4,5 5 10 15 20 25 30 2016 2017 2018 EBIT MSEK Gross Margin (%) 50,5 40,8 45,1 0,5 1 1,5 2 2,5 3 3,5 4 4,5 10 20 30 40 50 60 2016 2017 2018 LTM EBIT MSEK Gross Margin (%)

PROFIT ITABIL ILIT ITY & & O OPERATIN ING R G RESUL ULT CASH F FLOW

  • 25,3

52,1 33,3

  • 30
  • 20
  • 10

10 20 30 40 50 60 2016 2017 2018

  • 22,8

53,4 40,6

  • 30
  • 20
  • 10

10 20 30 40 50 60 2016 2017 2018

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Q2 | MSEK ACC | MSEK LTM | YEAR ON YEAR MSEK

0,63 0,65 0,73 0,58 0,6 0,62 0,64 0,66 0,68 0,7 0,72 0,74 2016 2017 2018 EPS SEK 1,67 1,22 1,48 0,2 0,4 0,6 0,8 1 1,2 1,4 1,6 1,8 2016 2017 2018 EPS SEK 3,53 2,57 2,83 0,5 1 1,5 2 2,5 3 3,5 4 2016 2017 2018 LTM EPS SEK

EFFIC ICIE IENT C CAPIT ITAL M MANAGE GEMENT

DIVIDEND POLICY DIVIDEND POLICY The goal is to deliver a dividend corresponding to 50 percent of net profit given no need to finance further investments in operations.

51 19 20

  • 24
  • 22
  • 24
  • 27
  • 51
  • 60
  • 40
  • 20

20 40 60 2016 Q3 2016 Q4 2017 Q1 2017 Q2 2017 Q3 2017 Q4 2018 Q1 2018 Q2 NWC

NET WORKING CAPITAL END OF QUARTER, MSEK | Average -7 MSEK LOW

EARNIN INGS GS P PER S SHARE

IFRS from Q3 2016

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LOW C CAPIT ITAL R REQUIR UIREMENT IN INCREASIN ING G RETUR URNS

100 127 129 115 52 43 31 34 20 40 60 80 100 120 140 2015 2016 2017 2018 LTM Equity (avg) Net Income SEKm

Strong ng re return turn o

  • n

n capi capital tal… …

132 140 142 125 63 51 41 45 20 40 60 80 100 120 140 160 2015 2016 2017 2018 LTM Capital Employed² (avg) EBIT SEKm

52% 52%

RO ROE

Note: (1) (1) ROCE defined as EBIT/average of period’s opening and closing capital employed; (2) (2) Defined as equity plus interest bearing liabilities

24 24%

RO ROE

48% 48%

RO ROCE1

36% 36%

RO ROCE1

1

34% 34%

RO ROE

29% 29%

RO ROCE1

1

30% 30%

RO ROE

36% 36%

RO ROCE1

1

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86% 11% 3% Construction Services Scaffolding 78% 10% 12% Construction Services Scaffolding

Revenu nues p per s segme ment nt J Jan – n – Jun 2 n 2018 EBIT IT p per s segme ment nt Jan – n – J June ne 2 2018

SEK millions 2018 Jan-Jun 2017 Jan-Jun Change Revenues Construction 685,5 529,2 30% Construction Services 88,5 62,9 41% Scaffolding 24,0 23,8 1% SEK millions 2018 Jan-Jun 2017 Jan-Jun Change Operating Profit Construction 18,3 13,7 33,4% Construction Services 2,3 2,4

  • 4,3%

Scaffolding 2,9 3,1

  • 7,6%
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BUS USIN INESS & & S STRATEGY GY UP UPDA DATE

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WHAT DO WE SEE IN THE MARKET?

  • So far, the construction industry is stable in most of our

segments and geographies we focus on

  • The public sector, mainly municipalities, county councils and

public housing rental companies continue to order

  • We see resources being moved into construction of social,

commercial and rental properties. We expect the competition to increase in our segments.

  • The Swedish Selection will probably impact timing and local

decision making.

INTRODUCTION

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PARTNERING HOW IT WORKS

STRATEGY

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NEXT XT S STEP – O OUR UR F FOCUS US R RIGH IGHT N NOW

1 1

Convert o

  • ur o
  • rder b

book i k int nto p profitable le g growth | De h | Develo lop o

  • ur o
  • rgani

nization & n & C Core p processes

2 2

Step f forward i in t n the he v valu lue c cha hain | T n | Take o

  • ur p

partne nering ng o

  • ffering

ng t to t the he ne next le level l

3 3

P Profitable le g growth i h in C n Cons nstruction S n Services & & Scaffho hold lding ng | F | Focus & & A Account ntabili lity y

4

STRATEGY | VALUE

Picki king ng t the he r right ht p proje jects | C | Cont ntinu nue t the he o

  • rder i

int ntake

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OUR UR S STRATEGY GY IS IS F FOCUS USED O D ON P PIC ICKIN ING T G THE R RIGH IGHT PROJECTS & & C CONVERTIN ING O G OUR UR O ORDE DER B BOOK IN INTO PROFIT ITABLE GR GROWTH

Keep our focus on creating value for our customers

STRATEGY

Increase efficiency in our

  • rganization,

develop our employees and

  • ur core

processes

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OUR UR C CORE P PROCESSES DR DRIV IVES P PERFORMANCE

SALES & TENDER

  • Selective Projects

& Partnering

  • Risk &

Opportunities

  • Risk Committee

(Board)

PROJECT MANAGEMENT

  • Optimized organization
  • Business Management

System

  • Standardized Project

Management

  • Risk & Opportunistic

AFTER MARKET

  • Customer Satisfaction
  • Learnings

STRATEGY | EFFICIENCY

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E3

SITE MANAGER PROJECT MANAGER CONSTRUCTI ON ENGINEER Dedication

E3

SITE MANAGER PROJECT MANAGER CONSTRUCTI ON ENGINEER Dedication

DE DEVELOPIN ING O OUR UR O ORGA GANIZ IZATIO ION E3

SITE MANAGER PROJECT MANAGER CONSTRUCTI ON ENGINEER Dedication

STRATEGY | EFFICIENCY

  • New Project Management organization
  • System support – Standardized follow up
  • Risk management | Accountability

E3

SITE MANAGER PROJECT MANAGER CONSTRUCTI ON ENGINEER Dedication Business Manager

  • Example | Executive Management
  • Team f

m from 4 to 3

  • Accountability Construction Services & Scaffholding
  • Example | Stockholm
  • New Project management organization
  • From 3 to 1 Business Manager
  • From 0 to 4 Project Managers
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FOCUS USED O D ON P PUR URCHASIN ING | 7 G | 70-8

  • 80% O

OF T THE PROJECTS A ARE O OUT UTSOUR URCIN ING G

70-80% OUTSOURCING

ü

Procurement Manager

ü

Relationships, negotiations for

  • ptimized terms & conditions

ü

Cash-Flow & Profitability

ü

Procurement is the key

Electrician, ventilation, pipe, the control and regulation technology, structural work, painter etc.

STRATEGY | EFFICIENCY

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PIC ICKIN ING T G THE P PROJECTS & & C CREATIN ING T G TRUS UST F FOR LONG T G TERM R RELATIO IONSHIP IP

ARBOGA KOMMUN

Strategic partnering social properties 2017-2022 Fas 1 Fas 2

STRATEGY | VALUE

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STRATEGY | VALUE

CONSTRUCTION SERVICES

NOW

  • Jan-Jun 2018 - Strong growth but

profitability decreased STRATEGY

  • Focus on increased profitability

ü Choose orders wisely ü Business awareness among employees ü Efficiency is the key

  • Grow revenues in market just

started

  • New markets could be interesting
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STRATEGY | VALUE

BUSINESS UPDATE & STRATEGY SCAFFHOLDING

NOW

  • The last years the scaffholding business had

stable turnover with good profitability STRATEGY

  • Growth with remained profitability
  • Secure resources for growth
  • More efficient material management
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STRATEGY | VALUE

Sustainability is an important cornerstone for creating value

  • The foundation for sustainable entrepreneurship is

profitability.

  • We take environmental and social issues into

account during the entire process of the construction process.

  • We are building for a sustainable society

In example| Arboga CUSTOMERS EMPLOYEES SHAREHOLDERS SOCIETY AT LARGE

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Q&A

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BYGGPARTNER AS AN INVESTMENT

Exposure to a pure construction company focused on attractive markets with strong drivers

1 3

Superior return on equity from low asset base and minimal gearing

4 5

Historical sales growth and outlook outpacing market and listed peers

2

Stable margins and low capital requirements providing high dividend capacity Highly adaptive organization with professionally structured

  • perations
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APPENDIX

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EXE XECUT UTIV IVE M MANAGE GEMENT T TEAM

Hele lena na B Blo lom, CFO & EVP Services & Scaffholding

  • Joined ByggPartner in 2018
  • ~15 years experience from ABB.
  • M. Sc. Engineer Uppsala University and

Bachelor Business Administration, Dalarna University

Ann-L nn-Louise Holmb lmbom, HR Manager

  • Joined ByggPartner in 2010
  • Previous experience from Stora Enso, ManPower

Leksands Sparbank and Falun municipality

  • Social sciences, Dalarna University
  • Joha

han K n Karls lsson, Business Manager Dalarna

  • Mattias E

Eriks ksson, Business Manager Mälardalen

  • Jörgen M

n Munk nk, Business Manager Stockholm

  • Martin H

n Huss, Business Manager Uppsala

  • Alf

lf L Lille lletofte, Business Manager Service

Fredrik L k Leo, CEO

  • Joined ByggPartner in 2017 as EVP Construction,

appointed CEO in 2018

  • ~18 years construction experience
  • Former head of NCC Building, several senior leading

positions within NCC since 1998

  • Education from Dalarna University

Extended operational management team

  • Joha

han T n Thu hurin, Business Manager JUF

  • Bjö

jörn Gr n Gruvsjö jö, Procurement and Calculation Manager

  • Patrik F

k Fredin, Business Controller

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Tore Hallersbo, Director

  • Elected to join the Board of ByggPartner in

November 2016

  • Other board assignments: Bengt Dahlgren

Göteborg AB, Norvatek Invest AB, Sprängteknik I Norden AB, Envac AB, Sigicom AB, Con-Form AS, Tore Hallersbo AB, AcobaiFLUX AB

  • Independent vs the company, its

management and major shareholders

  • 70 540 shares

Elisabeth Norman, Director

  • Elected to join the Board of ByggPartner in May

2018

  • Other board assignments: Amasten Fastighets AB,

Chairman Nivika Fastigheter AB, board member Örndalen Holding AB, Cibus AB, Elevenate AB and her own company Salnecke Slott AB.

  • Independent vs the company, its management and

major shareholders.

Louise Nilsson, Director

  • Joined the Board of ByggPartner in 2006
  • CEO of Priveq Investment V, Chairman of Priveq

Investment Fund III, Director of Priveq Advisory

  • Other board assignments: 21 Grams, Csam Health,

House of Ports, QleanAir Scandinavia

  • 1 606 452 shares through Priveq Investment Fund

III AB and KB

Bo Olsson, Director

  • Founder of ByggPartner and a board

member since 1992

  • Other board assignments: Vidbynäs

Golfanläggning AB

  • Prior positions: CEO of ByggPartner

1992-2008

  • 2 641 122 shares

Helena Skåntorp, Director

  • Joined the Board of ByggPartner in October

2016

  • CEO of Skåntorp&Co AB, other board

assignments: Mekonomen AB, Storyfire Skåntorp&Co AB

  • Independent vs the company, its

management and major shareholders

  • 10 000 shares

Torsten Josephson, Chairman of the Board

  • Joined the Board of ByggPartner in 2011
  • Other board assignments: Stiftelsen för Olle

Engqvist Priset, Samhällsbyggarna Sverige AB, Clarence Morberg Fastigheter AB, Berg & Gren Arkitekter AB, Aktea Energi AB

  • Independent vs the company, its management and

major shareholders

  • 31 300 shares

OUR UR B BOARD O D OF DIR DIRECTORS

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OWNERSHIP STRUCTURE

Sha hareho hold lders i in n ByggPartne ner i i Da Dala larna na H Hold lding ng A AB ( (pu publ bl) a as of

  • f

June ne 3 30, 2 , 2018

Surditet AB (Bo Olsson) 21,81% Länsförsäkringar Fondförvaltning AB 9,27% Priveq Investment Fund III KB 8,65% Nordea Livförsäkring Sverige AB 4,74% Priveq Investment Fund III AB 4,62% LGT BANK LTD (GADD) 4,59% Försäkringsaktiebolaget Avanza Pension 4,44% Nordnet Pensionsförsäkring AB 2,08% Dalakvartetten Huskonsult AB 1,92% Lirfo Invest AB 1,92% Övriga 35,96%

Source: Euroclear data

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KEY RATIOS

SEK millions 2014 2015 2016 2017 2018-06 Revenues 1 020,7 1 125,6 1 246,7 1 316,8 788,7 Production and operating costs

  • 956,9
  • 1 037,4
  • 1 167,3
  • 1 244,7
  • 748,4

Gross profit 63,8 88,2 79,4 72,1 40,3 Selling and administrative expenses1)

  • 25,0
  • 25,6
  • 28,8
  • 31,3
  • 16,9

Operating profit (EBIT) 38,8 62,6 50,6 40,8 23,4 Operating margin 3,8% 5,6% 4,1% 3,1% 3,0% Profit before taxes (EBT) 40,3 61,8 50,2 40,3 23,1 Net profit 31,8 51,8 42,7 31,1 17,9 Order intake 1 225,0 1 086,0 1 597,0 1 452,5 1 198,4 Order book 1 130,0 1 114,7 1 465,1 1 600,8 2010,5 Net Working Capital, MSEK 19,9

  • 7,1

18,9

  • 24,1
  • 50,5

Capital Employed, MSEK 126,5 136,9 144,0 139,1 124,0 Equity, MSEK 74,1 125,8 128,5 129,3 116,9 Return on equity (ROE) 54,7% 51,8% 33,6% 24,1% e.t. Return on Capital Employed (ROCE) 34,8% 47,6% 36,0% 36,1% e.t. Total assets 344,0 360,9 354,4 405,8 427,1 Fixed assets 126,7 111,1 113,9 107,6 105,0

  • f which goodwill

88,0 88,0 88,0 88,0 88,0 Number of employees 341,0 354,0 377,0 428,0 432,0