Earnings Call Q2, 2020 Stefan Syrén, President & CEO and Åke Bengtsson, CFO Friday 17 July 2020

Gunnebo Group

I. Overall Development Q2, 2020 and Market Update

II. Financial SummaryIII. Business Unit Performance Q2, 2020 IV. Outlook and Summary V. Q&A

Earnings Call Q2, 2020 – Agenda Friday 17 July 2020

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Market Update: Impact of the Covid-19 Pandemic on the Gunnebo Group

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Measures have been taken in all parts of the business to mitigate the impact

of the Covid-19 pandemic.

People & Well-being

Financial Stability

Customers & Supply Chain

• Group Order Intake decreased 31%, Order Book increased 2% and Net Sales decreased 30%• Orders and sales negatively impacted by Covid-19 pandemic • Order book shows strength with an increase of 2% • Significant slowdown in the marketplace where slower demand is recognised in all parts of the business• Given there is no major new wave of the pandemic, we believe that Gunnebo has now passed the lowest point

• Forceful actions to mitigate costs

• Strategic review of Other Business

• EBITA amounted to MSEK 0 (73) and the EBITA margin was 0.0% (5.3)

• The Free cash flow for the period was MSEK 92 (–32)

Overall Development Q2, 2020: Summary of the Quarter

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Order Intake Net SalesOrder Book

Stop Covid-19 at the Door with H-Sense, Infection Control Gates

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• Body temperature detection integrated into the gate combines image analytics with infrared thermal monitoring to deliver contactless temperature measurement.

• Hygienic mask detection via a high precision camera integrated into the gate.

• An automatic gel dispenser delivers a dose of hand sanitiser contactlessly.

Make Shopping Safer: OccuLinq, Social Distancing Manager for Retail Sector

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The OccuLinq platform provides live occupancy data direct to a mobile phone app, tablet or PC screen. The app works in combination with:• OccuSense stereo cameras that count people

without storing personal data, making them fully GDPR compliant.

• OccuSign digital display to inform waiting customers of occupancy availability, while reassuring shoppers that the store takes their safety seriously.

• Access control speedgates that regulate the flow of customers.

• Exit control to prevent shoplifters leaving the store without paying.

Financial Summary: Q2 2020

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MSEK April-June2020

April-June2019 Change

Order intake 948 1,362 –31%Of which organic, % –31 2

Order Book 1,426 1,393 2%

Net sales 952 1,368 –30%

Of which organic, % –31 7

EBITA 0 73 –73

EBITA margin, % 0.0 5.3

Adjusted EBIT –3 71 –74

Adjusted EBIT margin, % –0.3 5.2

EBIT –10 68 –78

Net profit for the period –71 24 –95

Return on operating capital employed, % 26.0 34.4

Return on capital employed, % 7.4 11.5

Earnings per share, SEK –0.75 0.32 –1.07

Free cash flow per share, SEK 0.97 –0.42 1.38

EBITA

Financial Summary: Working Capital and Free Cash Flow

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Cash Flow, MSEK Q2, 2020

Q1, 2020

Q4, 2019

Q3, 2019

Q2, 2019

Operating Cash Flow 128 –40 274 62 10

Free Cash Flow 92 –54 203 25 –32

Free cash flow R12M

MSEK MSEK

Working Capital Free Cash Flow

0%2%4%6%8%10%12%14%16%18%

0100200300400500600700800900

1 2 3 4 1 2 3 4 1 2

2018 2019 2020

Working capital WC in % of sales 12M

Financial Summary: Net Debt/EBITDA

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MSEKMSEK Q2, 2020 Q4, 2019 Q2, 2019

Net debt incl. post-employment benefits

1,703 1,761 2,058

Net debt excl. post-employment benefits

1,329 1,350 1,653

Net debt excl. post-employment benefits and IFRS 16

1,116 1,102 1,430

Net debt excl. post-employment benefits /EBITDA, times

3.9 3.01) 3.41)

1) The proforma rolling 12-month EBITDA has been calculated as an indicative figure for the quarters in 2019 due to the transition to IFRS 16 Leases as of 1 January 2019 and the acquisition of Cominfo in July 2019.

Business Unit Performance Q2, 2020: Entrance Control

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– 8%Order intake Growth

5%Sales Growth

31%of Group Sales

16.4%EBITA

• Launch of H-Sense and OccuLinq • Business impacted, however showed resilience towards pandemic• Strategic wins: Airport in APAC and High security in ME• Business activity in Asia has recovered after Covid-19 • Lavis opened up since Mid-April

–37%Order intake Growth

–43%Sales Growth

35%of Group Sales

– 5.4%EBITA

Business Unit Performance Q2, 2020: Safe Storage

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• Safe business heavily impacted by Covid-19 • Halol has gradually opened up during the quarter • Proactive business activities are moving forward however in a

slower pace • Strong order book development during the quarter • New partnership with Chinese customers for safe in home business

• Order and sales impacted by Covid-19 • RBR Report: market-leading supplier of automated cash handling

solutions to retailers in EMEA• A customised deposit system for the US market and

Safe Deposit D6 in pilot testing at customer site • Good sales levels, drive-up systems in the US

–32%Order intake Growth

–25%Sales Growth

22%of Group Sales

0.7%EBITA

Business Unit Performance Q2, 2020: Cash Management

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Business Unit Performance Q2, 2020: Other Business

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–51%Order intake Growth

–50%Sales Growth

12%of Group Sales

–8.4%EBITA

• Extensive work with the strategic review of Other Business with increased speed and addressing underperforming businesses

• Electronic security: primary installations in Europe and Mexico

• Fire systems: fire projects (Indonesia) and fire safety (India) • Retail solutions: Electronic article surveillance for retail

customers in Europe and Brazil

Key Take Aways Q2, 2020

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• Measures have been taken in all parts of the business to mitigate the impact of the Covid-19 pandemic

• Three focus areas: people & well-being, financial stability and customers & supply chain• Overall objective is to maintain deliveries in order to minimise the consequences for our

customers• Given there is no major new wave of the pandemic, we believe that we have now passed the

lowest point

• Cost savings in the Group and cost-efficiency programmes in Safe Storage and Cash Management

• Strategic review of Other Business continues with increased speed

• Product launches and innovative mind-set, cornerstones for a more flexible and agile Gunnebo

Q&A