YIT Group Interim Report 1-9/2007 PUBLIC 22 April 2018 Presence in 8 countries 500 local communities about 24,000 employees YIT Group Interim Report 1-9/2007 Hannu Leinonen Group CEO Event for analysts and investors October 26, 2007 YIT CORPORATION

Contents YIT Group Interim Report 1-9/2007 Market and Future Outlook PUBLIC 22 April 2018 Contents YIT Group Interim Report 1-9/2007 Market and Future Outlook YIT CORPORATION

PUBLIC 22 April 2018 YIT Group Interim Report 1-9/2007 YIT CORPORATION

Revenue and operating profit growth continued strongly MEUR 1-9/2007 1-9/2006 Change, % 1-12/2006 Revenue 2,679.5 2,376.3 13 3,284.4 Operating profit (EBIT) 229.1 172.4 33 258.8 as percentage of revenue 8.6 7.3 - 7.9 Financial items, net -22.0 -14.3 54 -20.6 0.8 0.6 Profit before taxes 207.1 158.1 31 238.2 Profit for the period 154.1 114.6 34 175.4 5.8 4.8 5.3 Attributable to Equity holders of the company 152.1 110.7 37 171.0 Minority interests 2.0 3.9 -49 4.4 Earnings per share, EUR 1.20 0.88 36 1.36 Return on investment, % 1) 25.8 25.2 24.8 Net interest-bearing debt, MEUR 591.4 416.8 42 506.5 Gearing ratio, % 79.1 68.1 75.1 1) Calculated for the period from Oct 1,2006 -Sep 30, 2007, using the balance sheet figures at Sep 30, 2006 and Sep 30, 2007.

Breakdown of revenue 1-9/2007 (1-9/2006) Finland 53% MEUR 1,411 (1,329) Growth 6% Lithuania, Estonia, Latvia 6% MEUR 170 (128) Growth 33% Russia 8% MEUR 203 (165) Growth 23% Sweden, Norway, Denmark 33% MEUR 874 (749) Growth 17% Total revenue MEUR 2,680 (2,376) Growth 13%

Revenue by business segment MEUR 1-9/ 2007 1-9/ 2006 Change, % 1-12/ 2006 Building Systems 1,170.3 1,009.2 16 1,415.1 Construction Services 1,196.1 1,055.9 13 1,452.2 Industrial and Network Services 359.0 352.9 2 476.9 Other items -45.9 -41.7 10 -59.8 YIT Group, total 2,679.5 2,376.3 3,284.4

Revenue growth accelerated in Russia +65% +23% 1-9/ 06 07 Q1 Q2 Q3 Q4 +60%

Operating profit (EBIT) by business segment MEUR 1-9/ 2007 1-9/ 2006 Change, % 1-12/ 2006 Building Systems 1) 71.1 52.6 35 87.6 Construction Services 150.0 120.8 24 170.8 Industrial and Network Services 2) 18.9 12.8 48 18.0 Other items -10.9 -13.8 -21 -17.6 YIT Group, total 229.1 172.4 33 258.8 EBIT margin, % 8.6 7.3 - 7.9 1) Building Systems released provisions for certain ended contractual obligations in the Q4/2006 period. This had a positive impact of EUR 7.2 million on operating profit. 2) Includes EUR 1.0 million in Q1/ 2007 and EUR 5.1 million in Q3/2006 of personnel expenses as a result of the codetermination negotiations carried out in 2006 in Network Services.

Building Systems EBIT development EBIT, MEUR EBIT margin, % 2) 2) 2) 2) 1) 1) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1) Includes a loss provision of EUR 4 million due to an electrification project on two ships for the Royal Danish Navy (non-recurring item) in Q3/2004. 2) Provisions for certain ended contractual obligations were released in the Q4/2006 period. This had a positive impact of EUR 7.2 million on operating profit.

Construction Services EBIT development EBIT, MEUR EBIT margin, % Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Industrial and Network Services EBIT development EBIT, MEUR EBIT margin, % 1) 2) 1) 2) 1) 1) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1) Includes EUR 5.1 million of personnel expenses in Q3/2006 as a result of the codetermination negotiations carried out in 2006 in Network Services. 2) Includes the final expense of EUR 1.0 million of personnel expenses in Q1/ 2007 as a result of the codetermination negotiations carried out in 2006 in Network Services.

Order backlog development MEUR 3,275 3,173 2,995 2,802 2,246 2,151 1,999 2,007 1,909 1,881 1,879 1,823 1,722 1,708 1,585

Order backlog by business segment MEUR 9/2007 9/2006 Change, % 12/2006 Building Systems 740.5 582.7 27 601.7 Construction Services 2,263.3 1,524.4 48 2,053.5 Industrial and Network Services 221.7 180.3 23 184.0 Other items -53.0 -41.2 29 -36.9 YIT Group, total 3,172.5 2,246.2 41 2,802.3

YIT Group invested capital PUBLIC 22 April 2018 YIT Group invested capital 12/2005 12/2006 9/2007 Russia 11% MEUR 100 Russia 23% MEUR 279 Russia 30% MEUR 417 Other countries 89% MEUR 799 Other countries 77% MEUR 928 Other countries 70% MEUR 979 Total 12/2005 MEUR 899 Total 9/2007 MEUR 1,396 Total 12/2006 MEUR 1,207 Invested capital= balance sheet total - non interest-bearing liabilities YIT CORPORATION

Personnel development Growth 7% Personnel 9/2007 change during last 12 months Finland 11,561 +27 Attracting competent professionals to ensure growth Russia 1,930 +699 - Commitment of existing personnel - Developing employer image - Co-operation with local educational institutes Recruitment and trainee programs for young professionals - Ways to root cross-border labor Lithuania, Estonia, Latvia 1,663 +122 Denmark 1,282 +35 Sweden 4,478 +393 Norway 2,922 +372 Total 23,836 employees +1,648 during last 12 months

Market and Future Outlook PUBLIC 22 April 2018 Market and Future Outlook YIT CORPORATION

PUBLIC 22 April 2018 Market trends Boom has peaked in world economy - growth expected to continue Uncertainties in the world economy have increased Boom peaked last year in the Nordic countries but growth continues outpacing that of euro zone. Growth in Russia and the Baltics is more than double. Rapid inflation in Latvia and Estonia increases uncertainty in economic growth Growth in business premises outpaces that of housing production in the Nordic countries Huge need for apartments in the large cities of Russia enables expansion of residential production over the long term YIT CORPORATION

Building Systems market outlook Output by sector in the Nordic countries Average growth 2007-2009 Residential stable Non-residential +3% Civil engineering +3% Renovation +2% Total construction +2% Source: Euroconstruct, VTT Technical Research Centre of Finland

In Russia apartments sold started to grow 1-9/2006 1-9/2007 2006 2007

Apartments sold declined in the Baltic countries 1-9/2006 1-9/2007 2006 2007

Average price for residences in the major cities of Russia Price increases have been moderate in Russia during 2007 USD/m2 Average price for residences in the major cities of Russia Local average wage indexes relative to residential prices in Moscow 2001: 940 USD/sq.m and St. Petersburg 2001: 469 USD/sq.m Moscow St. Petersburg Moscow Oblast Yekaterinburg N.Novgorod Rostov Samara Perm Source: Gosskomstat and Real Estate Bulletin (Buelletin nedvizhimosti)

In Finland total amount of apartments sold decreased slightly 1-9/ 04 1-9/ 05 1-9/ 06 1-9/ 07 2004 2005 2006 2007 Apartments sold include sales to consumers (including leisure residences) and investors.

Households’ intentions to acquire an owner- occupied flat during the next 12 months % of households September 07 Source: Statistics Finland’s Consumer Survey, September 27, 2007

Stable need for residential production in Finland PUBLIC 22 April 2018 Stable need for residential production in Finland No of residencies, estimate until 2025 Urbanization rate 68%, far behind Scandinavian and European levels Migration between and within municipalities continues on high level Source: VTT Technical Research Centre of Finland YIT CORPORATION

Residential construction Apartments under construction Apartments completed and unsold No No 1) 1) 1) 1) 1) 1) 9/ 06 6/ 07 9/ 07 9/ 06 6/ 07 9/ 07 9/ 06 6/ 07 9/ 07 9/ 06 6/ 07 9/ 07 9/ 06 6/ 07 9/ 07 9/ 06 6/ 07 9/ 07 1) In Russia the recording has changed for under construction, completed and completed and unsold apartments for the statistics of 9/2006, 6/2007 and 9/2007, so that apartments are recorded as completed three months after the inspection of the authorities. Previously the apartments were recorded as completed only after the buyers had done their own registration to the authorities.

Business premises growth outpaces that of housing in Finland Volume of construction of new buildings 2000=100, 12 month moving average Residential buildings Non-residential buildings Source: Statistics Finland, 8/2007

Projects in real estate development Finland YIT head quarters extension - sold to RBS Nordisk Renting Duetto business park - sold to Union Investment Entresse shopping centre - sold to CapMan and RBS Nordisk Renting Atomi shopping centre - sold to Boultbee Grandis retail centre - sold to FEA Joensuu shopping centre - sold to I/S EjendomsInvest St. Petersburg, Russia Office building - sold to EPI Russia fund Logistics centre - sold to EPI Russia fund Production plant and logistics centre - sold to Atria (Finnish food company)

Forecast for 2007 in residential construction PUBLIC 22 April 2018 Forecast for 2007 in residential construction YIT estimates its market-financed residential start-ups: in Finland about 2,300 (2006: 2,818) in Russia about 4,500 (3,699) in the Baltic countries about 700 (887) YIT CORPORATION

PUBLIC 22 April 2018 Outlook for 2007 YIT Group We estimate that revenue in 2007 will be bigger than in the previous year and operating profit (EBIT) will increase clearly compared to the previous year. YIT CORPORATION

More information on our web site www.yitgroup.com Sakari Toikkanen Executive Vice President tel. +358 20 433 2336 e-mail: sakari.toikkanen@yit.fi Sakari Ahdekivi Chief Financial Officer tel. +358 20 433 2258 e-mail: sakari.ahdekivi@yit.fi Petra Thorén Vice President, Investor Relations tel. +358 20 433 2635 mobile +358 40 764 5462 e-mail: petra.thoren@yit.fi