Investor Presentaiton

- GROWTH DRIVER – REPAIR AND REFURBISHMENT HIGHLY RESILIENT THROUGH THE CYCLES High resilience of refurbishment through economic cycles Corrective maintenance cannot be postponed Large backlog of projects for corrective maintenance in Europe and the USA Regulations and building standards make refurbishment mandatory Urbanization and densification drive the 55% of Group sales in construction generated by refurbishment 45% 55% 17 need for refurbishment 60 1 T=6 21 ■Refurbishment ■New build In mature markets, 70% of sales in construction generated by refurbishment 30% 70% BUILDING TRUST Jika ®

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