Welcome to Fabege. Christian Hermelin, President and CEO Åsa Bergström, Vice President and CFO

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1 Welcome to Fabege Christian Hermelin, President and CEO Åsa Bergström, Vice President and CFO

2 FABEGE IN BRIEF 80 commercial properties Property value SEK: 32,6bn Lettable area: 1,0 million sqm Rental value: SEK 2,2bn 136 employees Hammarby Sjöstad Stockholm inner city Solna

3 BUSINESS MODEL - ALL AREAS INTERCONNECTED Property Management low risk with stable cash flow Property Development creates value improves quality of portfolio Transaction finance projects boost potential of portfolio

4 THE PORTFOLIO STRATEGY - PROVIDES SUPPORT TO OUR OPERATIONS 1. Prime locations 2. Modern properties 3. Concentrated portfolio

5 STRATEGIC FOCUS - PRIME/CENTRAL LOCATIONS Property management Generates low vacancy in the property portfolio Property development Only the best locations are relevant for new projects Transactions Our properties are in the most liquid market in Sweden

6 THE PORTFOLIO STRATEGY MODERN PROPERTIES Contributes positively to all three operating areas City Carnegie huset Solna Business Park Arenastaden Hammarby Sjöstad

7 STRATEGIC FOCUS CONCENTRATED PORTFOLIO Property management Provides proximity to customers with high retention rate and efficient management Property development Investments that bolster the image of the area can be spread among many square meters Transactions Enhanced attractiveness and stronger brand increase interest among investors

8 ALL BUSINESS AREAS CONTRIBUTE SEKm Contribution from Property Management Contribution from Property Development 1, ,230 1,256 1, Contribution from Transactions Contribution from operations 2,321 1,488 2,269 1,830 1,862 Contribution per share (SEK) 11 kr

9 TWO STRATEGIES FOR GROWTH Investments through acquisitions Investments in existing properties Nationalarenan 8, Arenastaden Former Uarda 1, building B, Arenastaden (Now Uarda 6) SEB, Arenastaden

10 STRONG POSITION ON A GROWING MARKET Develop existing buildings Develop the area Work with development rights

11 PREREQUISITES: PROPERTY MANAGEMENT Rental income growth High surplus ratio High retention rate Vacancies in attractive locations DN-skrapan, City (Trängkåren 7) Luma, Hammarby Sjöstad Wenner-Gren Center, (Ormträsket 10) Vattenfallhuset, Arenastaden (Uarda 5)

12 STABLE CASH FLOW FROM PROPERTY MANAGEMENT Income growth Including known tenants moving in and vacancies Excluding rental target SEKm Q Q Q Q Q Q Q Q4-2015

13 PREREQUISITES PROPERTY DEVELOPMENT Continued healthy profit margin, at least matching our target of 20% (22% 2014) Estimated investment in 2015: approx. SEK 2bn Båtturen 2, Hammarby Sjöstad Nationalarenan 8, Arenastaden Former Uarda 1, hus C, Arenastaden (Now Uarda 7) Järvakrogen 3, Solna (The Winery Hotel)

14 PROJECT PORTFOLIO OFFERS GREAT POTENTIAL - MANY AND ATTRACTIVE BUILDING RIGHTS Commerical development rights (approx. 50% legally binding) 267,000 sqm (of which 95,000 sqm in Arenastaden) Housing development rights (not yet legally binding) 47,000 sqm Jointly owned (our share, of which slightly more than 50% legally binding) Lagern 2, Råsunda Office development rights 30,000 sqm Housing development rights 89,000 sqm Additional on-going production Office 144,300 sqm, hotel 7,500 sqm Signalen 3, Arenastaden

15 DEMAND IN THE STOCKHOLM OFFICE MARKET - THREE DISTINCT TRENDS Prime locations in terms of transport links - Rail connections often required Modern offices - Comfortable, efficient, flexible, image, sustainable Good surrounding services range of restaurants and service, critical mass

16 DEVELOPMENT NUMBER OF EMPLOYEES CORRESPONDS TO APPROX. 130,000 SQM OF OFFICE SPACE PER YEAR Numberl 400, , ,000 Office employment greater Stockholm Trend curve, calculated on 1.87% growth 340, , , , , , Source: Statistics Sweden, Swedish National Institute of Economic Research, Catella

17 POTENTIAL FOR RENT INCREASE CPI-adjusted rent SEK/sqm 6000 Real average rent Stockholm CBD (VS) Vacancy CBD (HS) Vacancy rate % 16, ,0 12,0 10, , ,0 4,0 2, ,0 Source: DTZ Sweden

18 2014 IN BRIEF All time high surplus ratio, 71 % (69) Net lettings, SEK 243m (68) Lease renegotiations up 11% (12 months) Continued healthy value growth in both the property management and project portfolio The deficit in the portfolio of derivative instruments increased additionally Loan to value ratio adjusted for outstanding purchase prices amounted to 56%

19 FINANCING - DECEMBER 31, 2014 Total facilities: SEK 24.4bn Total loans: SEK 19.6bn Of which, bonds SEK 1.9bn Of which, corporate paper: SEK 2.9bn Maturity period: 3.7 years Fixed-rate period: 1.9 years Unutilised facilities: SEK 4.6bn Continued excellent climate in the financial market New SFF bond financing Unutilised facilities Other loans Revolving credits Corporate paper Bonds

20 GOOD CONDITIONS FOR CONTINUED STRONG GROWTH IN EARNINGS Stockholm a growth market Modern buildings in attractive locations Future potential in property development Strong driven organisation

21

22 KEY FIGURES Market value, SEKm 32,559 33,384 31,636 29,150 26,969 29,193 Equity/assets ratio, % Loan-to-value ratio, % Net lettings, SEKm Interest coverage ratio, multiple Occupancy rate, % Surplus ratio, % Earnings per share, SEK Equity per share, SEK

23 LARGEST SHAREHOLDERS - DECEMBER 31, 2014 NUMBER OF SHARES PROPORTION OF EQUITY/VOTES, % Erik Paulsson with family, privately and company BlackRock Inc Länsförsäkringar fond management Öresund Investment AB SHB funds Mats Qviberg with family Norges Bank Investment Management SEB funds ENA City AB Nordea funds SHB pension fund Blue Sky Group Stichting Principal funds Fourth AP-fund TR Property Investment Trust TOTAL 15 LARGEST SHAREHOLDERS Other foreign shareholders Other Swedish shareholders TOTAL NUMBER OF SHARES OUTSTANDING Treasury shares 0 0

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