Investor AB Investor Day Presentation Deck

BraunAbility | 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

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