Slide 1: The Nordic Community Builder
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: Built and estimated need for housing in Sweden 1994–2033
Built 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, Boverket, Sw
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 Kaarina, Finland
Slide 8: Business area Construction
Business area Construction Jul-Sep Jul-Sep Oct 2024- Jan-Dec MSEK 2025 2024 Sep 2025 2024 Net sales 5,238 5,130 23,055 23,817 Operating profit 116 96 460 416 Operating margin, % 2.2 1.9 2.0 1.7
Slide 9: Stable level of orders received and higher order backlog
BUSINESS AREA CONSTRUCTION Stable level of orders received and higher order backlog Orders received, MSEK 10,000 8,784 9,000 8,000 7,000 6,654 6,325 6,602 Order backlog 5,577 5,835 26.2 6,000 5,000 4,756 4,489 3,994 4,000 BSEK (23.2) 3,000 2,000 1,000 0,000 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q3
Slide 10: New contracts in the third quarter
BUSINESS AREA CONSTRUCTION New contracts in the third quarter New office and Nursing home Apartments School development center (MSEK 173) (MSEK 112) (MSEK 197) (MSEK 1,100) Västerås Helsingborg Nynäshamn Kalmar
Slide 11: Allocation per product area
BUSINESS AREA CONSTRUCTION Allocation per product area Net sales, rolling 12 months Order backlog September 30, 2025 13% 13% Housing Housing 24% Construction maintenance 6% 29% Construction maintenance 9% Sports facilities Sports facilities Industrial Industrial Offices 11% Offices Logistics 12% 8%
Slide 12: Business area Civil Engineering
Business area Civil Engineering Lock canal Södertälje
Slide 13: Business area Civil Engineering
Business area Civil Engineering Jul-Sep Jul-Sep Oct 2024- Jan-Dec MSEK 2025 2024 Sep 2025 2024 Net sales 4,248 3,810 17,242 16,539 Operating profit 169 117 627 499 Operating margin, % 4.0 3.1 3.6 3.0
Slide 14: Increased level of orders received and high order backlog
BUSINESS AREA CIVIL ENGINEERING Increased 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 20.9 4,870 5,000 4,384 4,083 4,000 3,483 3,274 3,051 3,229 3,000 BSEK (21.6) 2,000 1,000 0,000 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q32
Slide 15: New contracts in the third quarter
BUSINESS AREA CIVIL ENGINEERING New contracts in the third quarter Local grid Road operation and New main pipelines services, 5 yrs maintenance, 2 yrs (MSEK 100) (MSEK 1,150) (MSEK 660) Härjedalen Sweden Sweden
Slide 16: Allocation per product area
BUSINESS AREA CIVIL ENGINEERING Allocation per product area Net sales, rolling 12 months Order backlog per September 30, 2025 17% 20% Operations and Operations and 27% maintenance maintenance Energy 37% Energy 5% Streets and groundwork Streets and groundwork 9% Ports and sea Ports and sea 6% Industr
Slide 17: Business area Industry
Business area Industry Bridge work E45 Denmark
Slide 18: Business area Industry
Business area Industry Jul-Sep Jul-Sep Oct 2024- Jan-Dec MSEK 2025 2024 Sep 2025 2024 Net sales 6,953 7,528 20,490 21,548 Operating profit 875 848 1,467 1,415 Operating margin, % 12.6 11.3 7.2 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 3,091 4.9 2,914 2,932 3,000 2,424 2,440 2,500 2,000 BSEK (4.5) 1,500 1,000 0,500 0,000 Q323 Q424 Q124 Q224 Q324 Q424 Q125 Q225 Q325
Slide 20: Allocation per product area
BUSINESS AREA INDUSTRY Allocation per product area Net sales, rolling 12 months 6% Paving 8% Concrete 9% Mineral Aggregates Transportation and Machines 52% 14% Rentals Construction System 11%
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% 11,805 14% 12,000 11,339 10,699 10,806 10,688 10,391 10,034 9,920 9,735 12% 10,000 10% Return on 8,000 capital employed 8% 14.7 6,000 6% 4,000 4% % (11.9) 2,000 2%
Slide 22: Business area Project Development
Business area Project Development Apartment building Örebro
Slide 23: Business area Project Development
Business area Project Development Jul-Sep Jul-Sep Oct 2024- Jan-Dec MSEK 2025 2024 Sep 2025 2024 Net sales 892 758 4,371 4,270 Operating profit 36 -6 639 728 Operating margin, % 4.0 -0.8 14.6 17.0 of which Housing Development -5.7 -1.9 -1.1 -2.7
Slide 24: Production start-ups of own housing developments
BUSINESS AREA PROJECT DEVELOPMENT Production start-ups of own housing developments Jul-Sep Jul-Sep Oct 2024- Jan-Dec Number 2025 2024 Sep 2025 2024 Tenant-owner apartments/ 111 108 967 657 condominiums of which converted from homes on our 111 - 445 209 own balance sheet Rentals - - 190 - Homes on o
Slide 25: Sold homes
BUSINESS AREA PROJECT DEVELOPMENT Sold homes Jul-Sep Jul-Sep Oct 2024- Jan-Dec Number 2025 2024 Sep 2025 2024 Tenant-owner apartments/ 91 141 734 710 condominiums Rentals 191 159 357 298 Homes on our own balance 19 - 103 23 sheet Total number of sold homes 301 300 1,194 1,031
Slide 26: Ongoing production of homes
BUSINESS AREA PROJECT DEVELOPMENT Ongoing production of homes Sep 30 Sep 30 Dec 31 Number 2025 2024 2024 Tenant-owner apartments/ 1,226 1,051 1,056 condominiums of which sold share (%) 45 55 45 Rentals 270 80 80 of which sold share (%) 91 0 100 Homes on our own balance sheet 494 623 436 of which so
Slide 27: Completed and repurchased homes
BUSINESS AREA PROJECT DEVELOPMENT Completed and repurchased homes Sep 30 Sep 30 Dec 31 Number 2025 2024 2024 Tenant-owner apartments/ 347 226 266 condominiums Rentals 196 306 306 Total number of completed 543 532 572 and repurchased homes
Slide 28: Property projects
BUSINESS AREA PROJECT DEVELOPMENT Property projects Adopted Rentable Degree Recognized Completion Completion level, Type of project Location investment, area, m2 rented, % value, MSEK time point % MSEK Ongoing Retail, office building and Malmö 8,300 43 212 592* Q3-2027 36 parking Retail Malmö 8,600
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 5% 19,767 19,199 19,138 20,000 18,435 4% 18,017 18,093 18,334 18,408 18,229 15,000 3% Return on capital employed 10,000 2% 3.6 % (1.7) 5,000 1% 0,000 0% Q323 Q423 Q124 Q224 Q
Slide 30: The Peab Group
The Peab Group
Slide 31: Segment reporting
THE GROUP Segment reporting Jul-Sep Jul-Sep Oct 2024- Jan-Dec MSEK 2025 2024 Sep 2025 2024 Net sales 15,602 15,539 58,249 58,697 Operating profit 1,148 995 2,885 2,763 Operating margin, % 7.4 6.4 5.0 4.7
Slide 32: Geographic spread in the Nordic region
THE GROUP Geographic spread in the Nordic region Net sales, rolling 12 months 11% 72% 14% (11) (71) (16) 3% (2)
Slide 33: Increased share of public customers
THE GROUP Increased share of public customers Net sales, rolling 12 months 44% (46) 56% (54) 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 40.0 48.3 71% BSEK (44.5) BSEK (47.0) (68)
Slide 35: Increased order backlog
THE GROUP Increased order backlog Order backlog allocated over time, MSEK 30,000 24,689 25,000 22,787 20,000 77% 15,000 13,362 12,510 10,877 11,080 10,000 after current 5,000 financial year 0,000 (77) Current financial year Coming financial year Thereafter September 30, 2024 September 30, 2025 The p
Slide 36: Strong cash flow in the third quarter
THE GROUP Strong cash flow in the third quarter Cash flow before financing, MSEK 3,000 2,792 2,500 2,000 1,719 1,462 1,500 1,195 1,000 450 0,500 0,000 -95 -218 -0,500 -363 -560 -1,000 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325
Slide 37: Lower net debt
THE GROUP Lower net debt Net debt and net debt/equity ratio 12,000 0,8 0,7 10,000 0,6 2,918 2,272 1,915 8,000 2,649 2,237 2,685 2,042 1,944 0,5 1,823 Net debt 6,000 0,4 4,000 7,255 5,991 6,490 7,313 6,397 6,681 6,322 7,610 6,168 0,3 0,2 8.0 BSEK (8.4) 2,000 0,1 0,000 0,0 Q323 Q423 Q124 Q224 Q324 Q42
Slide 38: Target checkpoint
é 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 4.7 4.8 4.9 4.7 5 4.7 4.5* 4.3 4 3.2 3 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 952. *
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 0.5 0.5 Target interval: 0.5 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 September 30, 2025 Years 2017-2018 are not translated a
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 30 Mål: Fallande trend 30 28 25 27 27 26 24 26 26 29 Contracting trend 18 16 18 20 18 19 18 20 20 20 20 20 16 23 2
Slide 43: Improved results and strong cash flow
JAN-SEP 2025 Improved results and strong cash flow • Stable market outlook for the Nordic construction and civil engineering market • Good development in civil engineering, premise construction and parts of the industry operations • Stable level of orders received and increased order backlog • Impro
Slide 44: Q&A
Q&A
Slide 45: Capital Markets Update: November 25, 2025
Capital Markets Update: November 25, 2025 Next report: Year-end report 2025 February 4, 2026
Slide 46: Thank you!
Thank you!