Q4 2018 PRESENTATION 8 th February 2019 Leif Gustafsson, CEO Aku - PowerPoint PPT Presentation

Q4 2018 PRESENTATION 8 th February 2019 Leif Gustafsson, CEO Aku Rumpunen, CFO Philip Isell Lind af Hageby, EVP, Modular Space

Q4 2018 HIGHLIGHTS • Sales increased by 10.6% (13.8% in local currencies) to EUR 217.5 (196.7) million. NMG acquisition completed and consolidated since 31 Oct contributing EUR 12.8 million to sales growth. • Group comparable EBITA improved by 6.2% to EUR 34.4 million (32.4) supported by ER Central and ER Finland and Eastern Europe and Modular Space. • All ER segments contributed positively to organic sales growth of 1.9%. • Modular Space organic rental sales grew by 13.5% and EBITA improved by 28.8% vs LY. • The Board of Directors of Cramo has decided to pursue towards spin-off of the Company’s Modular Space business to Cramo’s existing shareholders in the Nasdaq Stockholm latest in the third quarter of 2019 • The Board of Directors proposes a dividend of EUR 0.90 per share 2

POTENTIAL FOR RELEASING SHAREHOLDER VALUE Spin-off through a partial demerger Capturing full business potential Growth ▪ Cramo Board of Directors has decided ▪ Increase opportunity to optimize to pursue towards separation of the Modular Space (Cramo Adapteo) operational efficiency and create value business through a partial demerger ▪ The transaction and separate listing Competitive strength (Nasdaq Stockholm) of Cramo Adapteo ▪ Increase competitiveness through is expected to take place latest in the specialization third quarter of 2019 ▪ More focused management for ▪ Execution of a partial demerger requires separate companies approvals by Cramo Board of Directors and general meeting of the Financial clarity shareholders ▪ Two clear investment options with different risk and growth profiles Creating conditions for greater shareholder value with two stand-alone companies that can grow stronger separately 3

SPIN-OFF THROUGH A PARTIAL DEMERGER Overview of structure ▪ In a partial demerger, all assets and liabilities belonging to the Modular Cramo’s shareholders Space business would be transferred to 100 % 1) a new company to be incorporated in New shares in new the demerger Modular Space ▪ Shareholdings in Cramo would remain company as demerger 100 % unchanged as a result of the demerger consideration 1) ▪ Shares in the new Modular Space company would be issued as demerger consideration to Cramo’s shareholders New Modular in proportion to shareholdings in Cramo Cramo Plc Space company Partial demerger (Modular Space assets and liabilities transferred to a new company) 1) The New Modular Space company may issue new shares to the sellers of the shares in Nordic Modular Group Holding AB, with which Cramo entered into an agreement in June 2018 concerning the option under certain conditions to reinvest purchase price receivables from said transaction into the Modular Space business. 4

FINANCIAL TARGET REALISATION SALES GROWTH TARGETS REACHED IN BOTH BUSINESS DIVISIONS EQUIPMENT RENTAL MODULAR SPACE Organic** rental sales growth (y-o-y) Organic** sales growth (y-o-y) 15.7 % 15.0 % 14.6 % 15% 14.2 % 10.2 % 20% 7.8 % 15% 9.5 % 9.3 % 10% 6.1 % 5.4 % 4.0 % 3.5 % 10% 5% 10.0 % 5% 2.3 % 3.7 % 0% 0% Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Organic rental sales growth (YTD) Target 2017-20 Organic sales growth (YTD) Market 2017* Market 2018* Comparable ROCE Comparable ROCE 20% 15.2 % 14.4 % 12.6 % 20% 12.5 % 13.3 % 11.4 % 9.1 % 15% 15% 10% 8.8 % 14.5 % 10% 5% 5% 0% 0% Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Comparable ROCE Target 2017-20 Comparable ROCE Target 2017-20 * Target to grow faster than market. Market growth according to ERA (European Rental Association) in the markets where Cramo is present. ** Organic sales growth excludes the impact of acquisitions, divestments and exchange rate changes and IFRS changes 5

BUSINESS SEGMENTS 6

EQUIPMENT RENTAL: SCANDINAVIA SOLID PERFORMANCE CONTINUED Organic growth Sales +2.9% vs LY 120 Sales Q4/17 vs Q4/18 103.7 101.9 100.1 120 100 -4.6 0.0 2.9 0.0 0.0 100 Sales (EUR million) 80 EUR million 80 60 60 -1.7% 101.9 100.1 40 40 20 20 0 0 Q4/17 Acquisitions Divestments Organic FX-changes IFRS 15 Q4/18 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 growth impact Comparable EBITA and ROCE 25 Comparable EBITA (EUR million) • 21.5 In Sweden, fourth-quarter sales increased by 0.4% in local 24% 20.5 18.9 currencies driven by Southern and Central regions 22% 20 Comparable ROCE 20% 16.2 % • 15 In Norway, sales developed positively supported by high 18% 19.3 % utilisation rates and several large projects -4.4% 18.7 % 16% 10 14% • Full year profitability improved due to increased organic sales 5 12% and good cost control 0 10% • According to Forecon, equipment rental market is expected to Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 grow by 1% in 2019 in Sweden. The Norway outlook is positive Comparable EBITA Comparable ROCE for 2019 driven particularly by civil engineering. 7 ER Scandinavia has operations in Sweden and Norway with capital All figures exclude IACs and are presented as comparable key figures employed of MEUR 379 at the end of Q4 2018. Cramo changed the calculation method of ROCE’s capital employed component into 12 months average in Q4’2018.

EQUIPMENT RENTAL: FINLAND AND EASTERN EUROPE SALES AND PROFITABILITY IMPROVED IN THE FOURTH QUARTER Organic growth Sales Q4/17 vs Q4/18 50 1.8% vs LY Sales 45 45 0.7 0.0 0.0 0.0 0.0 40 39.3 38.7 37.4 40 35 35 Sales (EUR million) 30 EUR million 30 25 25 20 39.3 38.7 +1.7% 20 15 15 10 5 10 0 5 Q4/17 AcquisitionsDivestments Organic FX-changes IFRS 15 Q4/18 0 growth impact Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Comparable EBITA and ROCE Comparable EBITA (EUR million) 14 20% • Organic sales increased by 1.8% in Q4. In Finland, sales were 12 Comparable ROCE close to last year level decreasing by 1.0%. This was offset by good 15% 10 sales development in segment’s other countries. 7.3 7.0 8 10% 6 7.1 11.4 % • Profitability increased strongly in Poland, Estonia and Lithuania due +4.4% 11.6 % 13.1 % to higher sales and good cost control. In Finland profitability was 4 5% below last year, but improved from previous quarter due to 2 executed organisational restructuring. 0 0% Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 • Market outlook is mainly positive in all countries Comparable EBITA Comparable ROCE ER Finland and Eastern Europe has operations in four countries with 8 capital employed of MEUR 193 at the end of Q4 2018. All figures exclude IACs and are presented as comparable key figures Cramo changed the calculation method of ROCE’s capital employed component into 12 months average in Q4’2018.

EQUIPMENT RENTAL: CENTRAL EUROPE ORGANIC SALES GREW AND PROFITABILITY IMPROVED Sales Q4/17 vs Q4/18 Organic growth +9.6% vs LY Sales 40 35 2.0 0.0 0.0 9.9 0.0 35 32.4 Organic rental 30 growth 30 +0.5% vs LY 25 EUR million Sales (EUR million) 25 20 20.6 20.3 32.4 20 15 20.6 10 15 +57.7% 5 10 0 5 Q4/17 Acquisitions Divestments Organic FX-changes IFRS 15 Q4/18 0 growth impact Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Comparable EBITA and ROCE • Strong sales growth supported by KBS Infra acquisition (EUR 9.9 million Comparable EBITA (EUR million) 6 5.7 % 7% impact) supported by all segment countries, including Germany, where 5 4.7 % 4.1 % Comparable ROCE 4 trading sales were on a high level in the fourth quarter. 5% 3 2.5 1.6 2 1.3 3% • Comparable EBITA increased to EUR 2.5 (1.3) million or 7.6% (6.3%) of +91.5% 1 1% sales. The fourth quarter profitability was positively affected by the KBS 0 Infra acquisition’s contingent liability remeasurement of EUR 1.1 million. -1 -1% -2 -3 -3% • The underlying performance of Germany has not reached our targets Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 and improvement actions will be continued Comparable EBITA Comparable ROCE ER Central Europe has operations in five countries with capital 9 employed of MEUR 153 at the end of Q4 2018. All figures exclude IACs and are presented as comparable key figures Cramo changed the calculation method of ROCE’s capital employed component into 12 months average in Q4’2018.