20XX-XX-XX ÅF GROUP Q Jonas Wiström, CEO Stefan Johansson, CFO 1

ÅF has assignments worldwide ÅF is currently active in more than 100 countries ÅF offices ÅF assignments 2015 Net Sales 2015 SEK 9,851 million Number of employees 8,500 2

Business overview Market Segments Subsidiary Origin 10 largest clients AB Volvo, Astra Zeneca, Uniper (EON), Ericsson, Oslo Lufthavn, Scania, Swedish Defence Materiel Administration (FMV), Swedish Transport Administration, Vattenfall, Volvo Cars Note: Numbers above are Jan-Dec 2015 Energy: hydropower, nuclear power, renewable energy, thermal power, transmission and distribution Industry: automotive, defence and security, manufacturing, food processing, pulp and paper, steel and mining, oil and gas, pharmaceuticals, telecommunications Infrastructure: real estate, road and rail 3

Our motto: Innovation by experience! MISSION ÅF is an engineering and consulting company for the energy, industrial and infrastructure markets. Our pool of experience, with a unique range of technologies, creates solutions that are profitable, innovative and sustainable. VISION The best partner for the best clients. Our core values: Great people with drive Teamwork Indisputable Independence 4

Market overview Long term trends Globalisation Digitalisation Urbanisation and Sustainability Repositioning Current Market view Strong demand from the automotive-, pharma- and pulp industries Demand from the steel-, mining- and the oil & gas industries is weak Strong demand for ÅF’s digitalisation and embedded systems services Firm demand from the telecom sector Infrastructure market (rail & road and buildings) in Sweden and Norway remains strong The energy market in Europe, Latin America and Middle East is weak. Stronger demand in South East Asia and Africa 5

Q2 – Improved profit combined with continued growth Operating profit, the strongest ever Operating profit, excl items affecting comparability increased to 284 MSEK (225). A new cost reduction program implemented. A stable profit in a challenging market within the Industry Division. Continued strong growth combined with a strong margin performance within the Infrastructure Division. Strong growth and further profit improvements in the Technology Division. International Division experienced a decline in sales but is keeping the operating margin on the same level as last year. Strong growth Total growth 13.6 % whereof organic growth 5.3 %. The underlying organic growth was 3.6 %. Net sales MSEK Operating profit MSEK *) 6

Strong cash flow Cash Flow from operations generated MSEK 386 (97) YTD. MSEKComments Net Debt as of Dec 31, Cash flow from operating activities- 386 Capex50 Acquisitions and Earn Outs421Mainly Reinertsen Dividend292SEK 3.75 (3,50) per share Buyback of shares- Other- 12 Net Debt as of June 30, Net Debt / EBITDA, as of June 30, Target Cash Flow and Net debt position

Industry Division The Industry Division is the Nordic region’s leading engineering consultant in product, process- and production development. A continued mixed market picture. Strong demand in the automotive-, pharma-, and pulp industries. Weak demand in the nuclear-, oil & gas, mining- and steel industry. A growing demand for assignments in which ÅF takes overall responsibility in production- and R&D projects. The fixed price portfolio now exceeds 1.5 BSEK Operating Profit increased to 122 MSEK Cost reduction programs and a successful redistribution of resources between sectors contributed In order to further increase profits and profit margins a new cost reduction program implemented, with estimated savings of SEK 35m on an annual basis. Continued growth. Total growth 3.7 % (organic growth 2.6 %). Underlying organic growth 0.3 %.. Industries Automotive, Energy, Food, Pharma, Pulp & Paper, Steel, Mining, Oil & Gas, Engineering Manufacturing. Markets Sweden, Norway and Denmark. Involved in projects in more than 60 countries. proformaApr-Jun 2016 Apr-Jun 2015 Full year 2015 Net sales, MSEK1,186.61, Operating profit, MSEK Operating margin, % Average number FTEs

Infrastructure Division The Infrastructure Division has achieved a market-leading position in Scandinavia during the last 5 years. Continued strong demand in all sectors and geographical markets. Operating Profit increased to MSEK. Solid margins at >10 %. Continued strong growth. Total growth 36.3 %. Organic growth 11.3 %. Underlying organic growth 10.0 %. Acquisition of the design and architecture firm sandellsandberg Complements existing ÅF operations within industrial design, architectural lighting design and landscape architecture, totaling more than 250 employees to broaden and develop the range of services within urban and building environment. The integration process with Reinertsen (acquired in Q1) is running according to plan. Industries Rail & Roads and Real Estate. Markets Sweden, Norway and Denmark. Apr-Jun 2016 Apr-Jun 2015 Full year 2015 Net sales, MSEK1, Operating profit, MSEK Operating margin, % Average number FTEs2,9882,

International Division One of the top 10 leading power generation consultants in the world. Weak demand in Europe, Latin America and Middle East. Demand remains good in Asia and Africa. Operating Profit declined slightly to 16.6 MSEK But operating margins on a stable level. Restructuring in combination with actions to move from the declining markets in Europe to regions with higher growth rates in the energy sector continue and have been successful. Total growth – 12,0 % (organic). Adjusting for FX growth – 9.0 %. Industries Covers all industries, but mainly involved in power generation and distribution & transmission industries across all energy sources. Markets Responsible for ÅF’s operations outside Scandinavia. Global responsibility for Hydro Power. Home markets: Switzerland, Finland, Baltic countries and the Czech Republic. Other markets: Involved in projects in more than 80 countries proforma Apr-Jun 2016 Apr-Jun 2015 Full year 2015 Net sales, MSEK Operating profit, MSEK Operating margin, % Average number FTEs

Technology Division The Technology Division has a market leading position in Sweden in embedded technologies, systems design and IT solutions. The market for digital solutions, embedded systems and IT remain strong. Strong demand from the automotive and defence industries and good demand from the telecom sector. Operating profit and operating margin continue to increase. Operating profit increased to 46.5 MSEK. Operating margin increased to 10.1 %. Improvements are thanks to the cost reduction program, price increases and higher utilization rates. Growth rates are increasing Growth (organic) 13.5 %. Underlying growth 11.9 % Industries/Services Digital solutions for all industries Markets Sweden proformaApr-Jun 2016 Apr-Jun 2015 Full year 2015 Net sales, MSEK Operating profit, MSEK Operating margin, % Average number FTEs

Our strategy Focus To become # 1 or # 2 in each market we act Growth 13% average annual growth 6.5% organically 6.5% through acquisitions Profitability ”Best in class”, 10% over a business cycle 12

ÅF – top Ideal Employer among young professionals ÅF has been awarded most wanted employer in Sweden among young professionals* with B.Sc. Engineer and second most wanted among M.Sc. Engineers. ÅF is also best-in-industry among technical consultants! * Professionals with an academic degree and have 1-8 years of working experience after completing their studies. Source: The Universum Professional Survey RankProfessional Survey 2015, B.Sc. Professional Survey 2015, M.Sc. 1ÅFGoogle 2 ÅF 3IKEA 4Sweco 5SkanskaSpotify 13

THANK YOU ÅF GROUP 14