#1D investor#2D investor#3Capital Markets Day Stockholm 13 November 2020 investor#4Capital Markets Day Stockholm 13 November 2020 AGENDA Investor Strategy - Johan Forssell Q&A Financial strategy - Helena Saxon Listed Companies - Daniel Nodhäll Patricia industries - Christian Cederholm, Noah Walley Q&A Break Mölnlycke - Zlatko Rihter, Barry McBride 3Scandinavia - Morten Christiansen Permobil - Bengt Thorsson Piab - Clas Gunneberg Q&A Break Laborie - Michael Frazzette Sarnova Jeff Prestel BraunAbility - Staci Kroon - Q&A Concluding remarks - Johan Forssell investor#5Johan Forssell President & CEO investor#66 GRAND HÔTEL STOCKHOLM SWEDEN. ABB Nasdaq SME H Husqvarna Group AstraZeneca ERICSSON SAAB Mölnlycke Osobi rare strength Electrolux SEK 537 Adjusted Net Asset Value 3 SEB Vectura permobil bn sarnova LABORIE B BraunAbility Financial Investments Electrolux PROFESSIONAL ADVANCED INSTRUMENTS piab WÄRTSILÄ Atlas Copco EST Epiroc investor#77 TA We create value for people and society by building strong and sustainable * businesses investor#88 Engaged ownership Investments investor#99 Engaged ownership investor#1010 We are an Engaged Long-term Owner Strong portfolio + Clear governance model Right people at the right place Utilizing our network Financial Flexibility investor#1111 We build Best-in-Class Companies Value creation plans for each company ● ● Profitable growth Innovation Digitalization Sustainability Operational excellence Corporate structure Agility and financial flexibility Succession planning & talent management investor#1212 We build Best-in-Class Companies Atlas Copco Epiroc ABB Electrolux Electrolux PROFESSIONAL sobi rare strength LABORIE permobil piab sarnova investor#1313 We build Sustainable Businesses Business Ethics & Governance 100% Adhere to the Sustainability Guidelines Climate & Resource Efficiency 50% Reduce CO2 emissions compared to 2016 100% All companies have CO2e targets related to products, services or value chain Diversity & Inclusion 40/60% Gender balance in management groups and boards of directors at the portfolio level 100% All companies measure perceived level of inclusion among employees investor#1414 128 Investments investor#1515 Listed Companies Investments 2015 Q3 2020 — IN'S INOLT SEK -20bn CIN 14% IRR on investments SEK -28bn Including SEK -2bn in dividends 4# W CZEC 0 LITTLE investor#1616 Patricia Industries Investment Criteria Geography Nordics and North America 號線 Industry ******** Attractive industry niches Lat www.m Company al FOT Good growth opportunities Market-leading positions Strong profitability & cash flow Agility and resilience Strong corporate culture 20 investor#1717 Patricia Industries 2015-2020 YTD 5 50+ New Platforms 24 SEK bn HILTI Add-ons 17 >SEK bn in total add-on acquisitions to date 4# investor#1818 Investments in EQT 50bn SEK Investments in EQT 9% of total adjusted assets mm 3200 Amm [3 39% IRR 2015-2020 YTD Successful IPO of EQT AB - Strong fund performance 1020 SEK 11bn Net cash flow to Investor 2015-2020 YTD 20 investor#1919 Strategic Priorities Sharpen our role as an engaged owner FAC Ensure an attractive portfolio 100000 Safeguard financial strength investor#2020 Sharpen our role as an engaged 1. Drive our sustainability agenda to reach our targets and future-proof our companies 2. Capture opportunities related to digitalization and automation 3. Continuously ensure strong corporate structures 4. Focus on investments AND continuous efficiency improvements 5. Strengthen succession planning in our companies owner investor#2121 L JAN Ensure an attractive portfolio 1. Invest in selected existing listed companies Invest in 2. Add new attractive platform companies 3. Make add-on acquisitions in subsidiaries 4. Invest selectively in EQT funds 5. Constantly evaluate the potential in our companies to determine if we are the right owner ******** investor#2222 Strong Cash Flow - Great Financial Flexibility 2015-2019 Sources Investments in EQT Mölnlycke permobil B BraunAbility 3 ~85 SEK bn Listed Companies Net other Dividend paid Uses Net debt reduction ~85 SEK bn SAAR SAAB Electrolux ERICSSON C WÄRTSILA ABB Atlas Copco Safeguard financial strength B BraunAbility LABORIE sarnova piab Net debt approximately SEK 8bn lower, leverage down from 7.3 percent to 2.8 percent ET investor#2323 Average Annual Total Shareholder Return As of September 30, 2020 Percent 30 25 20 15 10 LO 0 YTD 1 year Investor B■SIXRX 5 years www.dom III Return requirement I 10 years 20 years 20 investor#24Going Forward Strong prospects for continued attractive performance investor#2525 Market Leaders with Strong Exposure to Attractive Long-term Trends ABB Atlas Copco Epiroc WÄRTSILÄ piab OS sobi AstraZeneca rare strength permobil LABORIE sarnova BraunAbility SEK Mölnlycke 560 bn ERICSSON SAAB CHICAGO SAAB 3 ERT SEB Nasdaq Electrolux H Vectura Husqvarna Electrolux Group PROFESSIONAL GRAND HÔTEL STOCKHOLM SWEDEN investor#2626 Committed to continue to Create Value 1. Proven ownership model 2. Portfolio with exposure to attractive long-term trends 3. Companies with strong market positions 4. Strong network and financial strength to support long-term value creation 1 Strength Speed investor#27Capital Markets Day Q&A Dial-in information Pincode: 14858966# Denmark: +45 35 44 55 77 Sweden: +46 8 56 64 26 51 United Kingdom: +44 33 33 00 08 04 United States: +1 63 19 13 14 22 investor#28D investor#29Helena Saxon CFO investor#3030 Financial Flexibility ● We have a conservative leverage policy Our funding profile reflects our long investment horizon We manage our balance sheet proactively SE BLE YIERUNE Ankunus dem loban Safeguard financial strength investor#3131 Conservative Leverage Policy Leverage, % 20 15 10 LO 5 0 2015 2016 2017 Leverage target range Ba 2018 HERRE Ratings AA-/Aa3 yukuu bikinis S&P/ Moody's Leverage 2019 Vi som Safeguard financial strength 2020 investor#3232 Proactive Balance Sheet Management SEK m 8 000 7 000 6 000 5 000 4 000 3 000 2 000 1 000 0 2020 2021 2022 2023 2024 2025 2026 2027 2028 EUR 600m 15-year bond 12-year bond TIT EUR 500m 2029 2030 2031 2032 2033 2034 2035 Average maturity 10.9x years 2036 2037 www.my EUR 500m 20-year bond 2038 2039 Safeguard financial strength 2040 2041 2042 2043 2044 investor#3333 Operating Priorities G 36 L BLUE 1. Grow net asset value 2. Operate efficiently 15 pilie 3. Pay a steadily rising dividend 10 SELE investor#3434 Grow Net Asset Value SEK m 600 000 500 000 400 000 300 000 200 000 100 000 0 2015 2016 14% Average annualized NAV growth, including dividend added back 11% Average annualized TSR (SIXRX) Miren 8-9% Annual return requirement I I 2017 2018 2019 2020 YTD D investor#3535 Operating Efficiently SEK m 500 400 300 200 100 0 2015 mi 2016 14 ALATEX 2017 ST 2018 T BLUE 2019 0.10% Rolling 12m mgmt cost/ NAV L Mgmt cost/NAV 0,25% 2020 YTD We constantly strive to improve efficiency in everything we do 0,20% 0,15% 0,10% 0,05% 0,00% L investor#3636 Pay a steadily rising Dividend DPS, SEK 14 12 10 8 6 4 2 0 2010 2011 2012 2013 2014 (LT) 2015 BLUE 181 2016 2017 2018 2019 D investor#3737 Estimated Market Values - How we get there Based on multiples, typically EV/12-month trailing operating profit (EBITDA) → Multiples, compiled by third party, based on relevant listed peers and indices •Broad peer groups to ensure stability over time Operating profit adjusted to reflect, e.g. pro forma effects of completed add-on acquisitions and certain non-recurring items SEK m 160 000 140 000 120 000 100 000 80 000 60 000 40 000 20 000 0 Patricia Industries - Adjusted values (excl. cash) Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 16 17 17 17 17 18 18 18 18 19 19 19 19 20 20 20 While the estimated market values might not necessarily reflect our view of the intrinsic values, they reflect how the stock market values similar companies investor#38D investor#39Daniel Nodhäll Head of Listed Companies investor#4040 ABB AstraZeneca H Husqvarna Group ERICSSON sobi rare strength SEK 375 bn Value of Listed Companies Nasdaq SAAB TECHNOLOGIE SEB SAAB 12% Annualized total return 2015-2020 YTD (SIXRX 11%) Electrolux Electrolux PROFESSIONAL WÄRTSILÄ Epiroc Atlas Copco investor#4141 Engaged Long-term Ownership Model 794 ALFILL DEN 211111155 Strong operational performance F 1 = Build more best-in-class companies OUVELL OL ***** ( investor#4242 Atlas Copco Epiroc ABB ERICSSON Electrolux Osobi rare strength Electrolux PROFESSIONAL H Husqvarna Group investor#4343 1 1977 LET Digitalization & Innovation Speed & Agility Un New business models 1947 Sharpen our role as an engaged S owner Collaboration & Partnerships investor#4444 L LET Talent Management & Succession Planning Future challenges Up-skilling & Re-skilling Sharpen our role as an engaged owner Next generation investor#4545 L LET Sustainability Business Ethics & Governance Climate & Resource Efficiency 1947 Sharpen our role as an engaged S owner Diversity & Inclusion O investor#4646 Engaged ownership Investments investor#4747 Wise Capital Allocation 1. Strengthen ownership in selected listed companies 2. Ready to support companies in rights issues 14% Total IRR on investments 2015-2020 YTD investor#4848 Proven engaged ownership model Companies well positioned to capture future opportunities investor#49D investor#50PATRICIA INDUSTRIES a part of Investor AB Christian Cederholm & Noah Walley Co-Heads of Patricia Industries investor#5151 GRAND HÔTEL STOCKHOLM SWEDEN >18,000 employees ADVANCED INSTRUMENTS Mölnlycke 3 SEK -40bn revenue permobil Vectura SEK ~8bn EBITA sarnova A great home for great companies LABORIE >piab SEK -6bn Annual cash flow B BraunAbility Financial Investments investor#5252 D 1. Clear decentralized governance model 2. Full alignment 3. Capital allocation 4. Utilize the network Slu 11:00 Our model for active long-term ownership investor#5353 Three Priorities 1. Develop existing companies Profitable growth People 號線 160 2. Add new platform companies TUL!! muni Continue to look for new platform investments 3. Realization of financial investments Continue exiting financial investments A Continue developing a limited number of companies EL D investor#54Buy to Build - Reinvesting in the Businesses 2013 +3.5x— EBITDA development during Patricia Industries ownership 2019 permobil +2.5x→ 2019 2015 B BraunAbility 2016 +4x 2019PF LABORIE 2018 +1.5x— 1. Develop existing companies 2020PF sarnova investor#55Growth through Add-on Acquisitions 2015 2016 2017 2018 2019 50+ add-on acquisitions (SEK 17 bn) 2015-2020 YTD 2020 YTD 1. Develop existing companies investor#56People Recruit and retain talent 1. Develop existing companies investor#5757 Acquisition of Advanced Instruments ADVANCED INSTRUMENTS 1. Clear global market leader 2. Serving attractive and growing end markets 3. Global, blue-chip customer base 4. Highly profitable, largely recurring, revenue model 5. Proven, market-driven approach to new product development 6. Best-in-class financial profile 7. Multiple organic and non-organic growth opportunities 2. Add new platform companies investor#58P TE L CLU 58 50 Exits and SEK 10bn in Proceeds WILLIN SEK 11.7bn SEK 10.0bn Starting base 2015 Net realization from 50 exits P SEK 1.0bn 2020 w on Com RES SEK 1.5bn Value change 214 Note: "Percentage of realized amount" based on net realization as a percentage of starting base SEK 3.2bn Closing base September 30, 2020 85% of starting base realized 3 D # exits 31 22 3. Realization of financial investments Proceeds (SEK bn) 6.7 3.2 S D 1000 BE (W) investor#5959 Active Ownership since 2015 ★Doubled portfolio EBITA +50+ add-on acquisitions 5 new platform companies X 50+ exits and SEK >10bn in liquidity from non-core assets Strong financial position Strong annual cash flow generation investor#6060 Three Priorities 1. Develop existing companies Profitable growth People 號線 160 COLISATE 2. Add new platform companies Continue to look for new platform investments 3. Realization of financial investments FUC Continue exiting financial investments Continue developing a limited number of companies EL D investor#6161 Three Scandinavia Transfer of Patricia Industries' 40 percent share of Three Scandinavia's passive network infrastructure to CKH Networks Participation in the divestment of CKH Networks to Cellnex for EUR 10bn Consideration attributable to Patricia Industries 5 percent of total consideration BOD Increased focus on Three Scandinavia's core business 號線 Strengthens our balance sheet further Lam 7 T 3 BL B D N investor#62Capital Markets Day Q&A Dial-in information Pincode: 14858966# Denmark: +45 35 44 55 77 Sweden: +46 8 56 64 26 51 United Kingdom: +44 33 33 00 08 04 United States: +1 63 19 13 14 22 investor#63Capital Markets Day We will be back after the break AGENDA Investor Strategy - Johan Forssell Q&A Financial strategy - Helena Saxon Listed Companies - Daniel Nodhäll Patricia industries - Christian Cederholm, Noah Walley Q&A Break Mölnlycke - Zlatko Rihter, Barry McBride 3Scandinavia - Morten Christiansen Permobil - Bengt Thorsson Piab - Clas Gunneberg Q&A Break Laborie - Michael Frazzette Sarnova Jeff Prestel BraunAbility - Staci Kroon - Q&A Concluding remarks - Johan Forssell investor#64D investor#65D investor#66Introduction new CEO Zlatko Rihter Mölnlycke#67Zlatko Rihter CEO Mölnlycke Joins Mölnlycke as CEO - 30 November 25 years experience within the Medical Devices industry Investor Capital Markets Day 2 Mölnlycke#68Companies Medical Tech industries Dialysis products and services, Patient handling, IVF and Diagnostics (IVD) Broad range of responsibilities ● >10 years as Head of R&D/Innovation >5 years as Head of Division >5 years as Head of Global and Regional (EMEA) sales teams >5 years as CEO in a listed Mid-Cap company; Cella Vision AB Directly or indirectly responsible for 35+ global MedTech product launches Board experience ● ● ● ETAC AB (Medical Device company owned by Nordstjernan AB, 4+ years) Malmö FF (Football, 4+ years) Investor Capital Markets Day 3 GAMBRO GETINGEX Baxter CELLAVISION arjo Cooper Companies cetac® Creating Possibilities rhmm M.F.F Malmö FF * Mölnlycke#69MedTech market specifics ✓ Starting point - customer's call point - complex set-up with several decision makers and stakeholders ✓ Understanding how to improve customers' work-flow from an efficiency and outcome perspective is crucial for success ✓ Value creation lies in the combination of understanding customer insights and at the same time ensure edge in the R&D portfolio ✓ Digitalisation and Al will be two key technology drivers within healthcare the coming decade and needs to be mastered Investor Capital Markets Day Mölnlycke#70Mölnlycke Investor Capital Markets Day 13 November 2020#71Presenter Investor Capital Markets Day Barry Mc Bride Interim CEO 7 Joined Mölnlycke in 2014, Interim CEO since 1 August 2020 Leads R&D, Gloves & Antiseptics and medical functions 30 years of global experience from senior positions in medical devises companies Mölnlycke#72We are a world-leading medical solutions company Wound care Surgical Advanced Wound Care 0 Procedure trays Investor Capital Markets Day ... Staff protection Oxygen Therapy Granulox Gloves NPWT Antiseptics 8 8,000 Employees globally 65% 35% +15 Manufacturing sites +100 Countries where we are present Mölnlycke#73We are the largest player in the segments we serve Sales 2019 (EUR million) Competitors' Organic growth Wound care Q3 2020 vs Q3 2019 (%) Wound Care Sales 2019 (EUR million) Surgical 1 000 800 600 400 200 0 800 600 400 200 0 836 Mölnlycke Wound 707 Mölnlycke surgical Investor Capital Markets Day 635 A 505 B 516 C 503 C 321 D 5% 0% -5% -10% 5.0% Mölnlycke Wound -0.6% -3.0% -6.9% A Gained market share despite slow down in Advanced Wound Dressing segment during 2020 due to Corona MölnlyckeⓇ#74Several structural factors underpinning global growth Developed markets Aging population Obesity is growing and almost 40% of American adults are obese, causing diabetes ● ● Emerging markets Increase and focus on healthcare spend due to higher levels of income and awareness Investor Capital Markets Day 1 in 11 adults has diabetes world wide EUR 11.6 billion spent every year on pressure ulcer treatment in the US 10 Up to 34% will develop a diabetic foot ulcer in their lifetime 3-6% Of Americans 65+ suffer from venous leg ulcers 38% increase surgical procedures globally over the last eight years 17% 2030 will be aged 60 or older globally Mölnlycke#75Maintain premium position through growing our core, invest in new products and expand channel coverage Growing our core business ... Myxor Advanced Wound Care Specialised Procedure Trays Investor Capital Markets Day + Channel expansion and entering new geographies Investing in new products, launching NPWT in Europe Entering new markets for Granulox Granulox Granulox + 11 --- and growth markets Brazil 28% CAGR 2017-2019 MEA 12% CAGR 2017-2019 China 28% CAGR 2017-2019 Mölnlycke#76Leveraging increased demand for staff protection will create a sustainable business Covid-19 outbreak - increased demand of PPE from customers. Q1 Responding on demand- sourcing new supply of face masks and gowns Investor Capital Markets Day Q2 - Establishing relationships with new customers and governments Q3 12 Q4 Longer term build on relationships to have a sustainable staff protection business Mölnlycke#77Towards a sustainable assortment through innovation ✓ Headwear >50% bio based ✓Classic Gowns >50% bio based. ✓ Next in line; Scrub Suits >50% bio based KA Green line components ALA Polymer surgical instruments 13 Foldable bowls BARRIER® Universal set Ultimate ISCC B . Reinforcement with tubeholders. • Impermeable material Absorbent top layer. Umate-50% ba Sustainable improvements 54 % bio base FSC certified boxes Mölnlycke 20-25% reduction of CO2 Mölnlycke#78Invest in value-added initiatives to ensure market leadership Commercial execution Investor Capital Markets Day Challenges: Pressure on healthcare budgets Health economics Safet 14 Innovation and Product pipeline Clinical evidence Mölnlycke#79We are in a good position Diversified product portfolio - covering home care, acute care and staff protection Continuing to take market. share in Wound care Solid supplier of equipment for the operating room and staff protection Investments made in people and capabilities to ensure solid Commercial execution Investor Capital Markets Day 15 Mölnlycke#80Mölnlycke#81Capital Markets Day Q&A Dial-in information Pincode: 14858966# Denmark: +45 35 44 55 77 Sweden: +46 8 56 64 26 51 United Kingdom: +44 33 33 00 08 04 United States: +1 63 19 13 14 22 investor#82D investor#83Capital Markets Day Morten Christiansen, CEO, 3Scandinavia 13 November 2020 3#84..ill 4G 804 300 835 408 761 509 Customer Base & Opex Development 2007-2019 798 636 868 772 838 844 872 1.006 867 924 942 934 1.090 1.154 1.201 1.274 899 OPEX (DKKm) 1.331 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 OVERVIEW 896 1.423 2019 Customers 1 133 569 1 055 774 2007 2008 1043 977 2009 3SE Customer Base & Opex Development 2007-2019 1 159 1 151 1 227 1 206 1 300 2010 2011 1 320 1330 1475 1622 2012 2013 1 799 2014 1 335 1429 1925 1988 2015 Mobile network operators driving "3", "3Business and as 2nd brands, OISTER & Hallon in Denmark and Sweden 1332 2016 2017 Running OpEx (SEK mio) Market position in Sweden #4, market share 14%, and in Denmark #3, market share 18% In both markets "3" and 2nd brands are in clear challenger positions 1904 Hacking growth by clever propositions with generous data volumes, service-focused and sales-driven organisations, using out-of-the-box market propositions. 1 262 1 955 1215 2020 2018 2019 Customers +255% 3#85hallon ED ● ● MAIN PROPOSITIONS 3DENMARK & 3SWEDEN OISTER & Hallon No frills, affordable, sim-only propositions, easy, simple, online, no binding 3Residential ● 3Sweden: "3Samla", clever family bundle, handsets + subscription, "3Världen" 3Denmark: "3LikeHome", use your subscription in 66 countries at no extra cost#86MAIN PROPOSITIONS 3DENMARK & 3SWEDEN 3Business ● 3Sweden ● • 3Denmark One size fits all, unlimited, low price, what you see is what you get: simple, easy, generous data bundle "3Världen" as an extra USP➡ SMB Ⓡ "3LikeHome", simple, easy, generous data bundle SMB + LA Enablers Simplicity, outside-in, value-for-money, IT- solutions, network O [amaktad#87CHALLENGES ● ● Slowdown in demand caused by Covid-19 Shifting focus from "travel product" to domestic product ● ● • Pushing (like crazy) mobile internet as a product Pushing even more online sales and restructure parts of business to increase utilization of resources INFRASTRUCTURE COMPETITIVENESS Bidding for 5G in both countries in near future Using 5G for growth - eating slices of the market from fiber Utilizing mobile focus to gain speed while multiplay competitors' struggle to focus and find synergies ● 5G#88KEY TAKE AWAYS • Maintain and build a challenger position ● Use 5G to eat competitors' lunch Mobile fiber expanding market potential • Focused on mobile, simple and easy - outside-in thinking • Never waste a good crisis#89留#90D investor#91permobil Investor Capital Market Day Bengt Thorsson, CEO & President November 13, 2020 けん H 43 VENG J10 WAAC COMHT WHILE 110 H 1911737 ПТАЗАВЛИНА MAKORVAUDYANS BY 33 0 1 33 BT ANNAWYJ 1107 WO ni I 100 سالان SƏLV-390 W12LEK#92Creating mobile solutions for independent living 92 Confidential Battery 60% Distance Seating 48 Dashboard Estimated range 63 h 24 mi Maxm Distance today 10 mi Average last 7 days 7.3 mi Repositions today 88 Average last 7 days 68 O Settings > SmartDrive- 459 437 COMPRICE permobil#93A global company with local presence close to the users 93 50 countries 1 600 employees Over 1 million units sold 4,4 billion SEK turn over (2019) +20% EBITDA Confidential SERVICES SEATING & POSITI MANUAL POWER ASSIST DEVICES OTHER PRODUCT RANGE POWER permobil#94Growth drivers ● ● ● ● Strong growth journey ● New product introductions Market access through clinical evidence Local representation and knowledge Digitalized products and customer interactions Services and uptime Acquisitions - product portfolio and geographical footprint 94 Confidential I 5-year perspective +17 % 11 2015 2016 2017 2018 2019 permobil#95Market access through clinical evidence 95 Confidential Explorer Mini Pre piorar Mini New M-series permobil#96Connected services makes it possible 96 Confidential My Position Distance Today 4,1 km System messages 350 300 250 200 150 100 50 Sep 2018 Nov 2018 6 FIX Jan 2019 Mar 2019 60 63 h 24 mi Fleet management Battery Level 78% W H 1 l gen MERE My Permobil DO 90 permobil#97CANIA Exturer och Herktyg! Focusing on the users Pall 30 OLIFENG EPAL LLIMEY 11 A C SOUR 57 P STANLEY STANLEY FI TO PORSCHESHOP MLIO MWM WM ACING#98D investor#99Evolving automation through progressive gripping, lifting and moving solutions. Clas Gunneberg, CEO piab Evolving automation IDLE 0.0 piCOBOT#100Piab offers gripping, lifting and moving solutions with a broad range of applications in diversified end-markets to a broad customer base Vacuum Automation¹) >piab 750M 50% 315 Employees IDLE 0.0 1) Including Robotic Gripping PICOBOT WI Ergonomic Handling 450M 30% 180 Employees Vacuum Conveying 20% 300M 90 Employees#101Line-critical products with a low impact on total investment Packaging piab 30% Vacuum pumps ocess Vacuum Pharma 14% Food 13% Vacuum suction cups Suction Cups Automotive 11% 50 Vacuum conveyors conveyors Chemicals 5% Wood 4% Robot end of arm tools End of arm tools Plastics 4% Semi-automatic ergonomic Ergonomic lifters Logistics/WH 3% Robot end of arm tools Electronics 3% Other 13%#102Long term growth is underpinned by the industrial automation megatrend, which will be even further boosted by the Covid-pandemic Manual handling Mi >piab Assisted manual handling por Automated handling plab R Connected & Al-enhanced automation (Industry 4.0) O Pab#103Automation is accelerated by new applications and connected solutions >piab 2018 2020 2022 Po OOO 2024+ 1 Growth in industrial output#104Automation is accelerated by new applications and connected solutions >piab 2018 2020 2022 P OOO 2024+ 2 1 Robotics and automation penetration Growth in industrial output#105Automation is accelerated by new applications and connected solutions >piab 2018 2020 2022 P OOO 2024+ 3 2 1 New use cases and applications Robotics and automation penetration Growth in industrial output#106Automation is accelerated by new applications and connected solutions >piab 2018 2020 2022 P OOO 2024+ 4 3 2 1 Value-add Industry 4.0 New use cases and applications Robotics and automation penetration Growth in industrial output#107Addressable core market of ~28 BSEK growing at ~+9% p.a. offering vast opportunities for both organic and acquired growth piab ~5.0 Vacuum automation ~+9% CAGR ~9.0 Mechanical gripping ~+8% CAGR ~8.0 End of arm tooling ~+10% CAGR ~3.5 Ergonomic handling ~+6% CAGR ~2.5 Vacuum conveying ~+7% CAGR ~28.0 Total core market ~+9% CAGR#108Clear strategy to capture all growth opportunities Increased Segment focus Expanded Market coverage Strengthened Product offering Enhanced Aftermarket and service >piab Digitalization GoTo-market models Acquisitions & Partnerships Secure market-leading position in high-potential customer segments Ensure dominant presence in high potential markets Fortify position as the technology leader and market innovator Strengthen customer loyalty and increase aftermarket share Number 1 or 2 in chosen segments Dominating market share in key geographic areas Full offering for key applications in core segments Recurring revenue >40% of sales 108#109Successfully executed on M&A strategy acquiring eight companies over the last four years piab Vaculex KENOS Vacuum gripping systems FEBAO AUTOMATION & Modulare Systeme GmbH SAS AUTOMATION TAWI Smart lifting Belker Vakuumteknik PRVAC vakuumspecialisten#110Key Take Aways The market potential is "unlimited" and underlying growth drivers support high growth rates Piab's innovative product portfolio, extensive market reach, asset-light global supply ain and strong market position create a solid foundation for continued growth There's a potential to accelerate growth with add-on acquisitions, and to continue building a leading automation provider through acquisitions in adjacent technologies Our major strategic initiatives are all generating continued profitable growth piab Evolving automation AWI lifting O#111#112Capital Markets Day Q&A Dial-in information Pincode: 14858966# Denmark: +45 35 44 55 77 Sweden: +46 8 56 64 26 51 United Kingdom: +44 33 33 00 08 04 United States: +1 63 19 13 14 22 investor#113Capital Markets Day We will be back after the break AGENDA Investor Strategy - Johan Forssell Q&A Financial strategy - Helena Saxon Listed Companies - Daniel Nodhäll Patricia industries - Christian Cederholm, Noah Walley Q&A Break Ad Mölnlycke - Zlatko Rihter, Barry McBride 3Scandinavia - Morten Christiansen Permobil - Bengt Thorsson Piab - Clas Gunneberg Q&A Break Laborie - Michael Frazzette Sarnova Jeff Prestel BraunAbility - Staci Kroon Q&A Concluding remarks - Johan Forssell - investor#114D investor#115INVESTOR AB CAPITAL MARKETS DAY NOVEMBER 13, 2020 Copyright Laborie Medical Technologies 2020 LABORIE 115#116WHO WE ARE LABORIE is a leader in medical technology and service for providers in Urology, Gastroenterology, Gynecology, Obstetrics and Neonatology. We offer a comprehensive suite of products and services that enable better clinical outcomes and improve the quality of patient lives. Our Mission is to improve lives as the leading diagnostic and therapeutic medical technology Company. → Boston, MA based HQ with 3 Global Business Units → More than 850 employees globally PF Revenue of $275 Million USD (2019) PF EBITA margin of 29% (exiting 2019) Direct presence in 11 countries Products sold in >110 countries → More than 10,500 customers worldwide 200+ Direct Salespeople 100+ Global Distributors LABORIE Values = Quality, Perseverance, Accountability, & Teamwork LABORIE Copyright Laborie Medical Technologies 2020 116#117WINNING MINDSHARE IN THE MARKETPLACE Urology Leading the Market in Diagnostic and Therapeutics ● Pioneers in Urodynamics for 35+ years in over 105 countries; Over 4 million patient procedures with T- DOC® Catheters Innovative Sterile Cystoscopy with 0% cross contamination Global Leader in clinically proven¹ Percutaneous Tibial Nerve Stimulation (PTNS) with 15+ years of patient satisfaction 1.Peters KM, Carrico DJ, Perez-Marrero RA, Khan AU, Wooldridge LS, Davis GL, MacDiarmid SA. Randomized trial of percutaneous tibial nerve stimulation versus Sham efficacy in the treatment of overactive bladder syndrome: results from the SUmiT trial. Journal of Urology. 2010 Apr: 183(4):1438-43. Gastroenterology Next Generation Diagnostic Solutions for the Whole GI Tract ● ● ● ● Continuous innovation with new systems that make measurements easier and more advanced Automated intuitive software including the latest classifications and protocols Unique combination of solid state, water-perfused and air-charged catheters; over 150,000 sold worldwide High-resolution Manometry and Impedance-pH recording Copyright Laborie Medical Technologies 2020 Clinical Innovations Leading provider of clinician preferred L&D and NICU products HE Kiwi Minden ● ● LABORIE Specialty sales force focused exclusively on Labor & Delivery and the Neonatal Intensive Care Unit Global expansion opportunity and demonstrated ability to drive market adoption through clinical training education A broad portfolio of market-leading, innovative diagnostic and therapeutic products and services. Market-leading brands with the Koala® Intrauterine Pressure Catheter and Kiwi® Vacuum-Assisted Delivery System 117#118● STRONG FINANCIAL DEVELOPMENT ● 123 $M Revenue 2019 PF Pro forma for Clinical Innovations acquisition = 2016 275 70 205 Laborie Clinical Innovations 2019PF = % Adj EBITA Margin 2019 PF Pro forma for Clinical Innovations acquisition YTD 2020 Commentary 25% 2016 Copyright Laborie Medical Technologies 2020 29% 2019PF Organic growth and operating margin sharply lower in Legacy Laborie business due to significant drop in elective procedures Slight growth and improved operating margin in maternal and child care business due more limited impact from decline in non-elective procedures LABORIE 118#119OUR STRATEGIC IMPERATIVES FUEL OUR ANNUAL OPERATING PLANS SIMPLIFY And relentlessly drive down costs ACQUIRE High-margin, high-relative share businesses in attractive spaces INNOVATE Portfolio and business models to drive high-relative share INTEGRATE Group functions and harmonize systems and processes FOCUS On creation of commercial GBUs to attract more customers GROWTH Grow, Innovate, Diversify ▪ U.S. Urology Go-To-Market ▪ International Expansion (Outside U.S.) PERFORMANCE Process and Execution ▪ Global Operations ▪ Information Systems & Technology CULTURE Employee Experience ■ Talent Development ▪ Employee Communications FINANCIAL TARGETS Outcomes ▪ Profit & Loss Statement ▪ Balance Sheet Copyright Laborie Medical Technologies 2020 LABORIE ▪ Growth through Adjacencies Digital Marketing ■ Clinical Evidence & Education ▪ New Product Development ▪ Rewards and Recognition ▪ Processes, Policies and Regulations ▪ Cash Flow Enterprise Value/Share Price ■ 119#120POSITIONED FOR LONG-TERM PROFITABLE GROWTH LABORIE: A global branded medical technology company that customers trust to provide innovative, market-leading solutions that enable better outcomes, better value and improve the lives of the patients we ultimately serve. A broad portfolio of innovative diagnostic and therapeutic products and services Well Established Brands Strong Market Positions in Core Businesses Global Sales and Distribution Channels Copyright Laborie Medical Technologies 2020 Focused Innovation and Business Development Capabilities LABORIE Exceptional Talent and Proven Management Team 120#121D investor#122Investor AB Capital Markets Presentation November 13, 2020 sarnova#123Introduction to Sarnova Continuum of Care Sarnova provides products and services to first responders and healthcare professionals across the continuum of care. Comprehensive product offering to meet the needs of emergency medical providers Pre-Hospital Emergency Preparedness Bound Tree Your Partner in EMS Emergency Medical Products Cardio Partners® 8- Comprehensive and specialty product offering bridges the gap between the pre-hospital and acute care markets 90 ER/ED Many vendor partners sell into both EP and Tri-anim 60 Emergency Specialty product offering to meet the needs of respiratory, anesthesia, and other critical care providers Acute Care Acute Tri-anim Advancing Healthcare, Together 123#124Introduction to Sarnova Our Mission and Vision Our mission is to be the best partner for those who save and improve patients' lives. We define this pinnacle of success by: The Best Support Partner for our Customers The Best Opportunities for our Employees The Best Advocate for our Vendor Partners BE THE BEST The Best Financial and Operating Performance Our vision is simple, "to be the best company in health and safety sales and distribution." ● ● Being the best at providing products and services to those who help save lives and care for patients. Being the best advocate for our vendor partners' therapies and treatments. Delivering the best operating and financial performance in our industry. Providing the best opportunities in our industry for our employees to learn, excel, and prosper. Being the best starts with a solid foundation of leadership and it is carried out with a team of employees that are focused on a common vision. 124#125Sarnova is a sales and marketing company with distribution capabilities - over 200 sales resources across the U.S. Emergency Preparedness • Largest national sales platform serving the EMS market. Bound Tree focused primarily on field sales. Cardio Partners and EMP focus on self-service and web-based selling tools with support from inside sales representatives. Cardio Partners field sales focus on larger Public Access and Alt Care customers. ● Introduction to Sarnova Go-To-Market ● EP Sales Channel Alignment Larger Accounts Large City Fire Depts., DOD, National EMS Providers Outside Sales Team Police Departments, EMS Units Inside Sales Team Smaller Accounts Non-EMS First Responders, Non-Institutional Healthcare Providers Online/Catalog ● • Largest clinical sales organization in the industry with unparalleled expertise in respiratory and anesthesia products Tri-anim Highly adept at navigating complex purchasing decisions in the acute setting • Vendor and product management capabilities help the most clinically valuable products gain adoption with customers. Tri-anim Tri-anim Sales Team Focus Advancing Healthcare, Together Sales Professionals Primary Focus Clinicians Senior clinical leadership looks to Tri-anim for innovative products and in-depth knowledge of clinical value of products Secondary Focus Procurement Departments Fosters critical relationships with various customer organizations through these frequent interactions 125#126Introduction to Sarnova Financial Overview ● ● $700 $600 $500 $400 $300 $200 $100 $0 Attractive financial characteristics Asset-light business model ● HI 2017 2018 Sales 2019 -EBITA, % 2020YTD 12% 11% 10% 9% Strong cash conversion profile Margin stability despite significant growth and infrastructure investments 126#127Introduction to Sarnova Strategic Imperatives - Achieve the 5Cs by 2023 Significant investment in our future will be required to properly prepare us to reach our full potential and achieve the 5C's by 2023: 1. Customer Centricity ● Expanded salesforce, learning & development, and digital marketing support 2. Curaplex Expansion • R&D, QA capabilities, and Kitting operations expansion 3. Complementary Acquisitions Tuck-ins and transformational acquisitions with investments in new service offerings 4. Capacity & Infrastructure • Warehouse automation, optimization, WMS, Power BI tools, and upgraded ERP 5. Cultural Sustainability • Al talent filter, Al sourcing tools, and organizational design optimization 5 C 2023 127#128Introduction to Sarnova Growth Strategy Sarnova has a multi-faceted growth strategy focused on continuing to drive Core Organic growth in existing and new customers while accelerating growth through targeted investments in Expansion initiatives and Acquisitions. Core Organic Growth By executing only on our core organic growth plan, management conservatively estimates that Sarnova will generate significant growth Expansion Growth Accelerate growth via investment in sales and marketing resources, expansion into adjacent markets, and enhanced committed use programs • New products expansion • Private Label portfolio • Kitting opportunity • Online enhancements Goal: 1.5x 2x market growth Core Organic Growth HD Digitech Expert EMS billing and technology . Acquisitions Fully developed acquisition strategy to grow Sarnova's share in existing markets and enable expansion into attractive adjacent and new health and safety markets ● Expansion into adjacent, higher-margin market verticals A mission-critical function for municipal EMS providers • EMS Revenue Cycle Management "RCM" Service Offering Expansion Growth Transformative Growth 128#129Introduction to Sarnova Entry into EMS Revenue Cycle Management sarnova On October 30, Sarnova acquired and simultaneously combined the Digitech and R1 RCM EMS (Intermedix) businesses. ● ● ● ● Digitech / intermedix X Expert EMS billing and technology + The combined business will continue to operate under the Digitech name and operate as a standalone entity. Sarnova will own more than 60 percent of the company and consolidate it in its financial statements. Creates a strong player in the attractive and durable EMS RCM market with potential for long-term organic and non-organic growth. Provides a highly differentiated and complementary product offering to Sarnova's existing EMS customers. Brings software technology capabilities into Sarnova, enabling the business to execute on other technology-driven strategic initiatives. For the 12-month period ending June 30, 2020 sales for the combined business were approximately USD 90m, with profitability higher than Sarnova's historical levels. 129#130D investor#131B BraunAbility Investor AB Capital Markets Day November 2020#132BraunAbility | What we do We are the global market leader in mobility products for people with physical disabilities Vehicles Retail sales ince Lifts Seating Restraints #1 NA Net promoter score = 76 Wheelchair Accessible Vehicles STORE HOURS 0012 #2 NA 48 locations nationwide Op #1 Global >90% new portfolio #1 Global Industry pioneers BraunAbility #1 UK TO SECURE ENSURE Y LOCKED Flooring #1 UK Geographic expansion opportunity B BraunAbility 132#133BraunAbility | What we do "So appreciative. So speechless. Thank you guys so much." Todd Shelton, Spinal cord injury survivor "With the Carony system, things just got a lot simpler. We became free." Inga Bertheden, Stroke survivor 6:12 34° 04 "I often drive with our family to our summer house. It's such a great feeling to be behind the wheel." Anna Delton, Stroke survivor "The way people stepped up to help me is something I will cherish forever.' Breanne Butler, Born with spina bifida B BraunAbility 133#134BraunAbility | Positive revenue and earnings growth trend REVENUE $800 M $700 M $600 M $500 M $400 M $300 M $200 M $100 M ..... 2012 REVENUE EBITA consolidated EBITA_legacy NA manufacturing EBITA consolidated_w/Retail+EU 2013 2014 2015 2016 NOTE: All figures follow IFRS except: 2012-2013 (GAAP) - EBITA_legacy NA manufacturing (GAAP) 12% 10% 8% 6% 4% 2% 0% EBITA (adj) Key revenue drivers + Share growth WAVS/Lifts + End market expansion - NA + Retail business unit acquisition + European business unit acquisition EBITA margin drivers + Same as revenue drivers, plus + Manufacturing efficiency improvements + Purchasing scale advantages + Overall better operating leverage Dilutive mix from BraunAbility-sourced chassis Dilution from lower-margin retail and Europe businesses B BraunAbility 134#135BraunAbility | CoVID-19 impact in 2020 and our response REVENUE Global light vehicle sales (million vehicles) $200M $150M $100M $50M 100 80 40 2019 BraunAbility performance M Crisis years 2020 Long-term global automotive recovery scenarios IHS pre-COVID-19 McKinsey pre-COVID-19 McKinsey virus-contained A3 McKinsey muted recovery A1 2021 2022 2023 $20M $15M $10M $5M 2024 ($5M) EBITA (adj) Source: McKinsey Center for Future Mobility Economic Outlook/Financial Summary • Covid-19 sales impact: ● ● 2Q20 sales down 53%, 3Q20 sales down 21% 3Q20 EBITA = $13M (8.8%) vs 3Q19 EBITA = $18M (9.1%) Prepared for multiple long-term automotive recovery scenarios Positioned for the Future ● • Prioritizing long term growth and innovation, ● while preserving earnings Investing in: - - Employee Health and Well-Being Digitalization New product Launches B BraunAbility 135#136BraunAbility | Growth drivers: four market-related macrotrends and initiatives Aging demographic The world elderly population is expected to nearly triple between 2010 - 2050 (¹) Of the nearly 5 Million wheelchair users in US,(2) only 4% own a Wheelchair Accessible Vehicle (3) EU 1-stop shop Broadest product portfolio + System-level testing + Local regulatory compliance = Game-changing safety and Broad regional growth NA market expansion Reach more customers through additional points of distribution with dealer partners Product portfolio innovation in new technology, affordability, and complementary components 1. Ages 65 and older. Source: WHO, Global Health and Aging 2. Source: US Census & Bureau of Transportation Statistics 3. Source: BraunAbility estimates 4. Using Carvana as market proxy. Source: wsj.com, 2020-08-10, "Growth in Online Shopping and Used Cars Lifts Carvana, Attracts Competition" 5. Source: wsj.com, 2020-06-20, "The Pandemic Has Pushed Car Buying Online. It's Expected to Stick." New Handicap Vans & Wheelchair Vehicles From side-entry to rear-entry, infloor or foldout ramps, BraunAbility has the widest variety of brand-new wheelchair accessible vehicles available on the Chrysler Pacifica, Dodge Grand Caravari, Toyota Senna or Honda Odyssey. Financing is available Mali BraunAbility Protect your investment with the extra coverage of a vehicle service contract orpo ⒸHAN DANA noore ve D Digital selling Conversion Type 030905 Da D B BraunAbility 13 1 2 3 4 5 6 7 8 9 10 > → Braunty thertory 9 2019 Dodge Grand Caravan SXT BraunAbility Side-Entry Foldout XT Power Ramp This unit is in stock at BraunAbility and is. available to ship to your local dealer. Compare Wheelchair Vans Compare Wheelchair Vans Vehicle Condition: New Conversion Condition: New 2019 Dedge Grand Caravan SXT BraunAbility Side-Entry Foldout XT Power Ramp This unit is in stock at BrounAbility and is available to ship to your local dealer, Vehicle Condition: New Conversion Condition! New 2020: 50% increase in online vehicle sales (4) TRUST Car Start My Buying Prosess B 3 BraunAbility $55,379 Mileage: 4 View Detais ba $55,379 Start My Buying Process Mileage: 4 View Detaib Customers prefer the convenience and transparency Dealer partners achieve increased transactional efficiency (5) 136#137BraunAbility | Growth drivers: technology and CASE macrotrends CASE macrotrends will change mobility ... S Shared mobility - Connectivity and loT - A Autonomous driving 25 Electrification SOURCE: McKinsey Automotive & Assembly Practice Offering breakthrough mobility opportunities for people with disabilities Potentially reducing GHG emissions for BraunAbility products ... and BraunAbility is investing in innovation to grow with the technology Public partnerships Advanced vehicle initiatives Navya Local Motors Canoo - USDOT Inclusive Design Challenge United Spinal Auto Alliance New product development - Toyota Sienna hybrid WAV Chevy Traverse WAV EV-optimized ramps - U.S. Department of Transportation 10C INCLUSIVE DESIGN CHALLENGE DTE MARP B BraunAbility 137#138BraunAbility is ... A growing global company, shaped by innovation, and motivated by a passion for changing customer lives ● ● ● Industry leader with global presence Strong purpose and customer connections History of double-digit revenue and EBITA growth Strong decremental during downturn Pursuing an aggressive growth plan, driven by: Demographic Shifts — - Regional expansion - Digitalization Technology and Innovation - Positioned to emerge stronger than ever from an unpredictable 2020 B BraunAbility 138#139D investor#140Capital Markets Day Q&A Dial-in information Pincode: 14858966# Denmark: +45 35 44 55 77 Sweden: +46 8 56 64 26 51 United Kingdom: +44 33 33 00 08 04 United States: +1 63 19 13 14 22 investor#141D investor#142142 Strategic Priorities Sharpen our role as an engaged owner FAC Ensure an attractive portfolio 100000 Safeguard financial strength investor#143143 Market Leaders with Strong Exposure to Attractive Long-term Trends ABB Atlas Copco Epiroc WÄRTSILÄ piab OS sobi AstraZeneca rare strength permobil LABORIE sarnova BraunAbility SEK Mölnlycke 560 bn ERICSSON SAAB CHICAGO SAAB 3 ERT SEB Electrolux H Nasdaq Husqvarna Electrolux Group PROFESSIONAL Vectura GRAND HOTEL STOCKHOLM SWEDEN investor#144144 Committed to continue to Create Value 1. Proven ownership model 2. Portfolio with exposure to attractive long-term trends 3. Companies with strong market positions 4. Strong network and financial strength to support long-term value creation X Strength Speed investor#145145 TROOP investor Thank you investor