Slide 1: Peab Q2 January – June 2025
=PEAB= THE NORDIC COMMUNITY BUILDER
Slide 2: Housing investments are expected to increase but from a low level
MARKET OUTLOOK Housing investments are expected to increase but from a low level Started-up housing investments, new and renovations 2025 2026 2027 Sweden ↑ ↑ i 2025 2026 2027 Norway 2025 2026 2027 Finland Source: Prognoscentret
Slide 3: Started-up and estimated need for housing in Sweden
Started-up and estimated need for housing in Sweden 1994–2033 80 000 Started-up housing by type of home 70 000 60 000 52,300 50 000 40 000 30,000 30 000 20 000 10 000 0 Apartment buildings Single homes Need for new housing (Boverket) Need for new housing (Swedbank) Source: Statistics Sweden, Boverke
Slide 4: Varying investment levels in premise construction
MARKET OUTLOOK Varying investment levels in premise construction Started-up premise construction investments, new and renovations 2025 2026 2027 Sweden → → 2025 2026 2027 Norway → 2025 2026 2027 Finland Source: Prognoscentret
Slide 5: Continued high level of investments in civil engineering
MARKET OUTLOOK Continued high level of investments in civil engineering Civil engineering investments 2025 2026 2027 Sweden 2025 2026 2027 Norway → → 2025 2026 2027 Finland → → Source: Prognoscentret
Slide 6: Stable investment levels in the Nordic market
MARKET OUTLOOK Stable investment levels in the Nordic market Total construction and civil engineering investments, new and renovations 2025 2026 2027 Sweden 2025 2026 2027 Norway → 2025 2026 2027 Finland → Source: Prognoscentret
Slide 7: Business area Construction
Business area Construction Preschool Helsinki
Slide 8: Business area Construction
Business area Construction Apr-Jun Apr-Jun Jul 2024- Jan-Dec MSEK 2025 2024 Jun 2025 2024 Net sales 5,959 6,358 22,947 23,817 Operating profit 137 123 440 416 Operating margin, % 2.3 1.9 1.9 1.7
Slide 9: High level of orders received in the second quarter
BUSINESS AREA CONSTRUCTION High level of orders received in the second quarter Orders received, MSEK 10,000 8,784 9,000 8,000 7,000 6,563 6,654 6,325 6,602 Order backlog 5,577 5,835 27.4 6,000 5,000 4,756 4,489 4,000 BSEK (23.9) 3,000 2,000 1,000 0,000 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225
Slide 10: New contracts in the second quarter
BUSINESS AREA CONSTRUCTION New contracts in the second quarter Transformer plant Jail Nursing home Housing (MSEK 831) (MSEK 433) (MSEK 566) (MEUR 11) Ludvika Halmstad Stockholm Espoo
Slide 11: Allocation per product area
BUSINESS AREA CONSTRUCTION Allocation per product area Net sales, rolling 12 months Order backlog June 30, 2025 13% 13% Housing Housing 25% Construction maintenance Construction maintenance 6% 31% 9% Sports facilities Sports facilities Industrial Industrial Offices 12% Offices Logistics 12% 8% Logis
Slide 12: Business area Civil Engineering
Business area Civil Engineering Lock canal Södertälje
Slide 13: Business area Civil Engineering
Business area Civil Engineering Apr-Jun Apr-Jun Jul 2024- Jan-Dec MSEK 2025 2024 Jun 2025 2024 Net sales 4,433 4,278 16,804 16,539 Operating profit 204 165 575 499 Operating margin, % 4.6 3.9 3.4 3.0
Slide 14: Stable level of orders received and high order backlog
BUSINESS AREA CIVIL ENGINEERING Stable level of orders received and high order backlog Orders received, MSEK 9,000 8,188 7,985 8,000 7,000 6,000 Order backlog 20.7 4,870 5,000 3,891 4,083 4,000 3,483 3,274 3,051 3,229 3,000 BSEK (22.3) 2,000 1,000 0,000 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225
Slide 15: New contracts in the second quarter
BUSINESS AREA CIVIL ENGINEERING New contracts in the second quarter Traffic solution Bypass Highway 27 Double track railway Dock (MNOK 347) (MSEK 238) (MSEK 218) (MSEK 250) Trondheim Bor Sundsvall Karlskrona
Slide 16: Allocation per product area
BUSINESS AREA CIVIL ENGINEERING Allocation per product area Net sales, rolling 12 months Order backlog per June 30, 2025 17% 19% Operations and Operations and maintenance maintenance 28% Energy Energy 5% 37% Streets and 5% Streets and groundwork groundwork Ports and sea Ports and sea 6% Industrial I
Slide 17: Business area Industry
Business area Industry Bridge work E45 Denmark
Slide 18: Business area Industry
Business area Industry Apr-Jun Apr-Jun Jul 2024- Jan-Dec MSEK 2025 2024 Jun 2025 2024 Net sales 5,678 6,033 21,065 21,548 Operating profit 544 449 1,440 1,415 Operating margin, % 9.6 7.4 6.8 6.6
Slide 19: Stable level of orders received and order backlog
BUSINESS AREA INDUSTRY Stable level of orders received and order backlog Orders received, MSEK 5,000 4,495 4,500 4,000 3,835 3,630 3,500 3,245 Order backlog 3,159 3,091 7.4 2,914 2,932 3,000 2,424 2,500 2,000 BSEK (6.8) 1,500 1,000 0,500 0,000 Q223 Q323 Q424 Q124 Q224 Q324 Q424 Q125 Q225
Slide 20: Allocation per product area
BUSINESS AREA INDUSTRY Allocation per product area Net sales, rolling 12 months 6% Paving 8% Concrete 8% Mineral Aggregates Transportation and Machines 14% 54% Rentals Construction System 10%
Slide 21: Lower tied-up capital and improved return on capital
BUSINESS AREA INDUSTRY Lower tied-up capital and improved return on capital Capital employed and return on capital employed* 14,000 16% 11,885 11,805 14% 12,000 11,339 10,699 10,806 10,688 10,391 9,920 9,735 12% 10,000 10% Return on 8,000 capital employed 8% 14.2 6,000 6% 4,000 4% % (9.3) 2,000 2% 0
Slide 22: Business area Project Development
Business area Project Development Housing project, Bankløkka Horten, Norway
Slide 23: Business area Project Development
Business area Project Development Apr-Jun Apr-Jun Jul 2024- Jan-Dec MSEK 2025 2024 Jun 2025 2024 Net sales 751 720 4,237 4,270 Operating profit -1 -33 597 728 Operating margin, % -0.1 -4.6 14.1 17.0 of which Housing Development -1.7 -7.7 -0.1 -2.7
Slide 24: Production start-ups of own housing developments
BUSINESS AREA PROJECT DEVELOPMENT Production start-ups of own housing developments Apr-Jun Apr-Jun Jul 2024- Jan-Dec Number 2025 2024 Jun 2025 2024 Tenant-owner apartments/ 108 - 964 657 condominiums of which converted from homes on our 85 - 334 209 own balance sheet Rentals 190 - 190 - Homes on ou
Slide 25: Sold homes
BUSINESS AREA PROJECT DEVELOPMENT Sold homes Apr-Jun Apr-Jun Jul 2024- Jan-Dec Number 2025 2024 Jun 2025 2024 Tenant-owner apartments/ 150 136 784 710 condominiums Rentals 166 - 325 298 Homes on our own balance 15 - 84 23 sheet Total number of sold homes 331 136 1,193 1,031
Slide 26: Ongoing production of homes
BUSINESS AREA PROJECT DEVELOPMENT Ongoing production of homes Jun 30 Jun 30 Dec 31 Number 2025 2024 2024 Tenant-owner apartments/ 1,206 1,504 1,056 condominiums of which sold share (%) 44 61 45 Rentals 270 239 80 of which sold share (%) 91 49 100 Homes on our own balance sheet 605 623 436 of which
Slide 27: Completed and repurchased homes
BUSINESS AREA PROJECT DEVELOPMENT Completed and repurchased homes Jun 30 Jun 30 Dec 31 Number 2025 2024 2024 Tenant-owner apartments/ 332 266 266 condominiums Rentals 306 306 306 Total number of completed 638 572 572 and repurchased homes
Slide 28: Property projects
BUSINESS AREA PROJECT DEVELOPMENT Property projects Recognized Adopted Rentable Degree Completion Completion Type of project Location value, investment, area, m2 rented, % time point level, % MSEK MSEK Ongoing Retail, office building Malmö 8,300 43 163 592* Q3-2027 28 and parking * Completed Office
Slide 29: Increased level of capital employed
BUSINESS AREA PROJECT DEVELOPMENT Increased level of capital employed Capital employed and return on capital employed* 25,000 6% 19,767 19,199 5% 20,000 18,435 18,017 18,093 18,334 18,408 18,229 17,351 4% 15,000 Return on capital employed 3% 10,000 2% 3.5 % (1.9) 5,000 1% 0,000 0% Q223 Q323 Q423 Q12
Slide 30: The Peab Group
The Peab Group The Project Persikan Södermalm Stockholm
Slide 31: Segment reporting
THE GROUP Segment reporting Apr-Jun Apr-Jun Jul 2024- Jan-Dec MSEK 2025 2024 Jun 2025 2024 Net sales 14,937 15,232 58,186 58,697 Operating profit 760 619 2,732 2,763 Operating margin, % 5.1 4.1 4.7 4.7
Slide 32: Geographic spread in the Nordic region
THE GROUP Geographic spread in the Nordic region Net sales, rolling 12 months 11% 71% 15% (11) (72) (15) 3% (2)
Slide 33: Increased share of public customers
THE GROUP Increased share of public customers Net sales, rolling 12 months 44% (47) 56% (53) Public customers Private customers
Slide 34: High order backlog and continued good risk diversification
THE GROUP High order backlog and continued good risk diversification Orders received Order backlog Share of projects under MSEK 500 13.2 51.8 73% BSEK (16.4) BSEK (50.6) (71)
Slide 35: High order backlog
THE GROUP High order backlog Order backlog allocated over time, MSEK 25,000 21,412 20,810 20,094 20,000 18,668 15,000 11,816 10,000 9,535 59% after current 5,000 financial year 0,000 (60) Current financial year Coming financial year Thereafter June 30, 2024 June 30, 2025 The potential worth of preli
Slide 36: Increased working capital in the second quarter
THE GROUP Increased working capital in the second quarter Cash flow before financing, MSEK 2,000 1,719 1,462 1,500 1,195 1,000 -450 0,500 0,000 -95 -0,500 -218 -363 -560 -1,000 -1,500 -2,000 -2,500 -2,321 -3,000 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225
Slide 37: Unchanged net debt
THE GROUP Unchanged net debt Net debt and net debt/equity ratio 14,000 0,9 0,8 12,000 0,7 10,000 2,868 0,6 2,918 2,272 1,915 8,000 2,649 2,237 0,5 Net debt 2,685 2,042 1,944 6,000 4,000 8,849 7,255 7,313 7,610 0,4 0,3 9.5 BSEK (9.6) 5,991 6,490 6,397 6,681 6,322 0,2 2,000 0,1 0,000 0,0 Q223 Q323 Q42
Slide 38: Target checkpoint
‘ Target checkpoint
Slide 39: Four target areas, nine external targets
Four target areas, nine external targets Most satisfied Best workplace eNPS customers CSI always over benchmark always over 75 Zero vision Serious accidents Through a contracting trend Operating margin Most profitable Leader in social Carbon dioxide Carbon dioxide intensity company >6 % responsibilt
Slide 40: Target: Operating margin over 6 percent
MOST PROFITABLE COMPANY Target: Operating margin over 6 percent Operating margin, Group 7 6.2 Target: 6% 6 5.2 4.8 4.9 4.7 4.7 5 4.7 4.5* 4.3 4 3.2 3 2.5** 2 1 0 2017 2018 2019 2020* 2021 2022 2023** 2024 2025*** *Operating margin 4.5% excl. effect of the distribution of Annehem Fastigheter of MSEK
Slide 41: Target: Net debt/equity ratio within interval 0.3-0.7
MOST PROFITABLE COMPANY Target: Net debt/equity ratio within interval 0.3-0.7 Net debt/equity ratio, Group 1,0 0,8 0.6 0,6 0.6 0.6 0.5 0.5 Target interval: 0,4 0.3-0.7 0.3 0.3 0,2 0.2 0.1 0,0 2017 2018 2019 2020 2021 2022 2023 2024 2025* * Per June 30, 2025 Years 2017-2018 are not translated accord
Slide 42: Zero vision for workplace accidents
BEST WORKPLACE Zero vision for workplace accidents Serious accidents, rolling 12 months, category 4 60 54 50 48 48 49 48 43 44 40 41 39 42 40 36 34 33 33 Target: 32 30 32 30 30 30 30 28 29 Mål: Fallande trend 30 28 25 27 27 26 24 26 26 Contracting trend 18 16 18 20 18 19 18 20 20 20 20 20 16 23 21 2
Slide 43: Recommend Peab as employer
BEST WORKPLACE Recommend Peab as employer eNPS, recommend Peab 35 32 29 30 28 28 27 27 26 24 25 22 21 20 20 20 19 18 18 19 19 17 18 Target: 15 eNPS Over industry 15 10 10 Benchmark benchmark 10 8 8 5 0 2019 2019 2020 2021 2021 2022 2022 2023 2023 2024 2024 2025 Q2 Q4 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 43
Slide 44: Continued stable development
JAN-JUN 2025 Continued stable development • Stable market outlook for the Nordic construction and civil engineering market • Operations adapted to new conditions in the housing market • Good development in civil engineering, premise construction and parts of the industry operations • Stable level of
Slide 45: Q&A
Q&A
Slide 46: Next report: Third quarter 2025
Next report: Third quarter 2025 October 24, 2025 Capital Markets Update: November 25, 2025
Slide 47: Thank you!
Thank you!