Samhallsbyggnadsbolaget I Norden Ab Class B · OMXSTO:SBB_B

Samhallsbyggnadsbolaget I Norden Ab Class B — Q2 2020 Earnings Presentation

13 slides from Samhallsbyggnadsbolaget I Norden Ab Class B's earnings presentation, Jul 14, 2020

1. Slide 1: Webcast Presentation: SBB, Q2 Report 2020

   Q2 WEBCAST PRESENTATION: SBB, Q2 REPORT 2020 Juristen 6, Härnösand July 2020

2. Slide 2: Financial Performance

   FINANCIAL PERFORMANCE 2020 2019 2019 2018 Q2 Q2 Jan-Dec Jan-Dec Rental income, SEKm 2,664 893 1,996 1,680 Net operating income, SEKm 1,817 560 1,265 1,071 Surplus ratio, % 68 63 63 64 Interim profit, SEKm 2,595 933 2,624 1,690 Yield, % 4.6 4.7 4.8 4.7 Cash flow from current operations, SEKm 1,194 24

3. Slide 3: Long Term Reliable Partner for Municipalities Creates Stable Income

   LONG TERM RELIABLE PARTNER FOR MUNICIPALITIES CREATES STABLE INCOME Income overview1) ▪ Long history of actively working with several History of acquiring municipalities in Sweden Classification Rental Income, SEKm % of Total Regulated rent residentials 771 17 from municipalities ▪ First transaction

4. Slide 4: SBB Has Assembled a Unique Portfolio Across Tier 1 Locations

   SBB HAS ASSEMBLED A UNIQUE PORTFOLIO ACROSS TIER 1 LOCATIONS High quality property portfolio with attractive underlying exposures Geographical diversification Property value by property type 6% 75% 94% Social infrastructure 17% Residential of the property SEK Other 72,974m of the property portfolio

5. Slide 5: Strong Track Record of Operational Performance Supported by Very Experienced Management Team

   STRONG TRACK RECORD OF OPERATIONAL PERFORMANCE SUPPORTED BY VERY EXPERIENCED MANAGEMENT TEAM – ADJUSTED MARGIN INCREASE WITH 7 PERCENTAGE UNITS, L-F-L 7% Strong management team and Board of Directors NOI margin improvement ◼ Organisational integration fully accomplished. Successfully integrated tale

6. Slide 6: Assets Disposals According to Plan Since Acquisition of Hemfosa

   ASSETS DISPOSALS ACCORDING TO PLAN SINCE ACQUISITION OF HEMFOSA Historical disposal development (SEKbn) Announced disposal post combination with Hemfosa ◼ c. SEK 11bn of target disposal announced in Dec-19 / Jan-20 20,2  ▪ Of which SEK 10.9bn1 already disposed ◼ Releases significant proceeds for de

7. Slide 7: Undersupply and Increasing Demand for SBB's Property Assets Translate into Minimal Market Risk

   UNDERSUPPLY AND INCREASING DEMAND FOR SBB’S PROPERTY ASSETS TRANSLATE INTO MINIMAL MARKET RISK Strong population growth across all the Nordics Key considerations Sweden Norway Finland Denmark 35 ✓ Strong population growth expected in the Nordic countries (plus 0.4% CAGR 30 0.5% CAGR c.2.4m inhabitan

8. Slide 8: Project Development Potential

   PROJECT DEVELOPMENT POTENTIAL Current development portfolio (30 June 2020) Example projects Planning phase GFA building rights (sq.m.) Book value (SEKm) per sq.m. Västerhaninge (Haninge) Zoning plan process Phase 1 – Project ideas 819,372 693 846 Västerhaninge centrum, Haninge Phase 2 – Pending plan

9. Slide 9: Strong Track Record of Operational Performance Delivering Social Infrastructure

   STRONG TRACK RECORD OF OPERATIONAL PERFORMANCE DELIVERING SOCIAL INFRASTRUCTURE Selected post Q2 2020 acquisition ✓ 35 year triple-net lease with Læringsverkstedet, Norway’s largest private kindergarten chain Norway ✓ No break clauses ✓ 100% indexed to CPI ✓ 50 year lease with Skellefteå Municipalit

10. Slide 10: Strong Operating Profit Q1 – Rolling 12 Months

    STRONG OPERATING PROFIT Q1 – ROLLING 12 MONTHS Current earnings capability for the Group for 12 months SEKm Surplus ratio: 72% 6 000 5 000 4 537 1.98 4 000 SEK per ordinary Class 63 100 A and B share 3 000 1 289 21 150 2 000 777 3 248 2 484 2 506 1 000 0 Rental income Property costs NOI Central admi

11. Slide 11: Key Updates – Successfully Delivering on the Business Plan

    KEY UPDATES – SUCCESSFULLY DELIVERING ON THE BUSINESS PLAN Ahead of schedule, we delivered our stated goals and the execution of our business plan in conjunction with the Hemfosa acquisition and deleveraging ambition ▪ Organisational integration fully accomplished 1 Acquisition of Hemfosa ▪ Created

12. Slide 12: In Summary

    IN SUMMARY “Profit after tax per ordinary share of class A and B increased to SEK 1.8 (1.0)” ▪ SBB’s 12-month rolling earning capacity from the management operations amounted to SEK 2,484 million (798) at the end of Q2 2020. Considering a theoretical cost 1 because the company had a liquid position

13. Slide 13: Thank You!

    THANK YOU! SBB Samhdllsbyggnadsbolaget {SBB) '

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