Skanska Investment StoryProfit with Purpose

Why invest in Skanska?Skanska is a market leader focused on selected home markets– Supported by strong trends in demographics and urbanization – Focus on green construction, health and safety and ethical

business practice

with a competitive offer– Our financial strength in combination with our expertise enables

us to meet requirements in the most complex assignments

and an attractive business model– Positive cash flow from Construction is continuously invested

in well-defined project development for enhanced returns

that creates value for shareholders,– The business model has provided a history of strong returns

and consistent dividends

and we will grow.– With a maintained focus on profitability the Construction

business will continue to grow and investments in project development will increase

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− Skanska is one of the world’s leading project development and construction groups

− Operations in selected home markets in Europe and North America

− Revenue of SEK 155 bn in 2015

− No of employees 48,000

− Listed on Nasdaq OMX

− Market Cap SEK 69 bn

87%

8%

5%

Revenue EBIT

49%

15%

25%

11%

Construction

Residential Development

Commercial PropertyDevelopment

Infrastructure Development

Facts in brief

Our four business streams

Revenue, operating income (EBIT), FY 2015

Our home markets

USA SwedenFinland

Denmark

United Kingdom

PolandSlovakia

Hungary

Czech Republic

Romania

Norway

Commercial Property Development

Residential Development

Infrastructure Development

Construction

USA Nordic countries Other European countries

Construction

Residential Development

Commercial Property Development

Infrastructure Development

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Global presence – local strength2015, SEK bn

Revenue 64EBIT 3.9

Revenue 60EBIT 1.5

Revenue 38EBIT 2.5

40%of 5 year EBIT

22%of 5 year EBIT

38%of 5 year EBIT

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Unique business model

Free working capital

Operating Margin

Investment opportunities

Internal contracts

ConstructionRevenue with associated contract profits

Revenue clients Project DevelopmentDevelopment gains are generated and are realized upon divestment

Return on Capital Employed

Return on Equity

Dividend

ROE DividendTotal Shareholder Return compared to indices (5y)

A history of competitive returns

*SBI, Strategic Benchmark Index consist of companies that, taken together, reflects Skanska´s operations

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0

5

10

15

20

25

30

35

40

45

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

4%

7% 6%

1%

6%

4% 4%

2%

0%

2%

4%

6%

8%

10%

12%

Skanska B SIXPortfolio

Index

SBI DJ TitansCon & Mat

Price return Dividend yield

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

0.00

2.00

4.00

6.00

8.00

10.00

12.00

14.00

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Dividend – additional, SEKDividend, SEKDividend yield %

“Our current levels of investment fall far short of even what is needed justto keep our existing roads, bridges and transit in good condition.” – Anthony Foxx, U.S. Transportation Secretary

The Urban population is increasing all over the world with an average of 70 percentof the global population living in urban areas by 2050 compared to 50% in 2010. All of Skanska’s markets are above that average and have a higher degree of urban population.

Key market trends and drivers

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

SKANSKAhome markets

OECDcountries

CAGR GDP 2016–2020

7

Urbanization GDP growth Construction spending

Business Plan 2020Profit with Purpose

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Sergels Torg, Stockholm, Sweden

Aspirations 2020− Industry-leading total shareholder return

− Balanced value creation between Construction and Project Development

− Recognized as a preferred partner when it comes to creating solutions that meet customers’ needs

− Living our values and recognized as a value-driven company building for a better society

− An injury free and ethical environment

− The most attractive employer in our industry

− A company fostering One Skanska and high performing teams

− Improved operational efficiency

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Skanska’s business model

Free working capital

Operating Margin ≥3.5%

Investment opportunities

Internal contracts

ConstructionRevenue with associated contract profits

Revenue clients Project DevelopmentDevelopment gains are generated and are realized upon divestment

Operating Margin 2.8%

Outcome 2015

Return on Capital Employed ≥10%

Return on Capital Employed 14.9%

Return on Equity ≥18%

Dividend 40-70% of profit

Return on equity 22.5%

Dividend 63% of profit

Financial targets

Our key actions 2016–2020Controlled growth in Construction− Home market strategy− Enhanced Risk management− Higher level of early involvement− Continued focus on working

capital

Stable ResidentialDevelopment− Increase capital efficiency− Grow BoKlok− Establish Residential Development

Europe− Design to cost

Expand Commercial Property Development− Increase investments− Drive cost efficiency− Consider expansion in the U.S. /

CEE− Landbank focus to backfill

pipeline

Leverage Infrastructure Development business model− Grow presence in USA− Establish presence in Norway− Enhance values in portfolio and

divest mature projects

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