1. Quality. Compassion. Care.
Quality drives productivity and growth President and CEO – Thomas Berglund
March 2017

2. A leader in European healthcare
Capio today
12,400 employees (FTE) and 4.7 million patient visits in Sweden, Norway, France and Germany. From Jan 2017, Denmark added to the Group
Offers a broad range of medical, surgical and psychiatric care of high quality in our hospitals, specialist clinics and primary care units
Founded in 1994 in Sweden. Listed on Nasdaq Stockholm and re-listed in June In the past ten years Capio has:
Developed a medical strategy
Driven by an empowered organization
Invested in facilities and equipment to build for the future
A pan-European footprint (2016)
Net sales: SEK 14.1 billions 8%
38%
54%
Since January present in Denmark: The acquisition of CFR Hospitaler adds sales of about MDKK 280
A leader in European healthcare
Capio AB (publ) – March 2017

3. Experience across all care levels
Capio footprint
Capio footprint
Sweden
1 emergency hospital
2 local hospitals
29 locations for specialist care
14 locations for psychiatric care
83 locations for primary care
Nordic
University hospital    
Emergency hospital
Norway
8 medical centers
3 specialist clinics 
Local hospital
Denmark
4 specialized hospitals
4 radiology units
Specialist clinic
France
8 emergency hospitals
10 local hospitals
3 specialist clinics
1 day surgery center
Primary care unit
Germany
5 general hospitals
4 specialist clinics
7 outpatient clinics (MVZ)
Current market position #1 #2 #2 #3
#<15
Experience across all care levels
Capio AB (publ) – March 2017

4. Rapid Recovery strategy delivers
Modern Medicine and Rapid Recovery reducing AVLOS in France – from 8.2 to 4.5 days in Capio France on hip and knee
Capio France – hip and knee prosthesis surgery
Capio growth of hip and knee replacements well above market growth
Continued significant AVLOS reduction for hip and knee replacements also in % more patients discharged within four days in 2016 compared with
Total AVLOS reduction from 2011 to was -45% for Capio France
Steady growth in the number of procedures performed in daycare
AVLOS development hip and knee replacements
Rapid Recovery strategy delivers
Source: French market data; Scansanté (ATIH), Swedish market data; Socialstyrelsen
Capio AB (publ) – March 2017

5. Modern Medicine in practice
Multi-modal intervention
Conventional treatment
Surgery
Weeks
Days
Functional capacity
Illustrative effects from Modern Medicine Capio France hip and knee prosthesis surgery
Earlier discharge
AVLOS -45%
No. of surgeries +41%
No. of beds needed for the increased production -28%
A well structured medical process with CPIs improves medical quality (QPI)
By measuring production and resources we get KPIs that are the link to financial results
A structured medical process improves quality and frees up capacity
Capio AB (publ) – March 2017

6. eHealth is a growing part of the future
I need help!
Digital documentation of medical story. Supported by questions/algorithms
Patient medical story
Triage
Different time
Different place
Different place
Same time
Same place
Same time
Acute hospital/
Specialist
Self care
DIGIPHYSICAL HEALTHCARE
Agreement with Doctrin, a Swedish provider of e-health solutions. Capio has acquired a minority share to support further development
Capio AB (publ) – March 2017

7. 97.2% EPS growth and proposed dividend of SEK 0.90
Continued positive development in Nordic and Germany – France compensated for the main part of the price reduction
Highlights January – December 2016
Solid development:
3.3% organic sales growth
8.8% EBITA growth
97.2% EPS growth and proposed dividend of SEK 0.90
2.7x financial leverage. Net debt at MSEK 2,872
Continued strong result growth in Nordic and Germany driven by organic sales growth and productivity improvements
Strong volume growth and productivity improvements compensated for the main part of the French price reduction in Lower final yearly price reimbursement than expected and some minor strike effects impacted the fourth quarter
Increased acquisition activity – new entry into Denmark and acquisition of 11 primary care centers in the West of Sweden adding yearly sales of MSEK >700
Capio AB (publ)

8. Nordic – Acquisition of CFR Hospitaler and Backa Läkarhus
Denmark added to our Nordic platform (Net sales of MDKK 288 = ~MSEK 366)
- Same demographic drivers as in the rest of Europe
- Increased pressure on publicly produced healthcare
- Increasing waiting times
Backa Läkarhus added to Capio Proximity Care in Sweden (Net sales of MSEK 370)
- 11 primary care centers (incl. nine rehabilitation centers) and one light A&E center added to the west of Sweden – strengthens market leadership
- now a total of more than 750,000 listed patients in Sweden
Capio’s focus is on expanding work for the public sector
Strong base for digitalization
Acquisitions will contribute positively to group margin development Continued focus on acquisition activity
Capio AB (publ) – March 2017

9. Tariffs for reimbursement of healthcare in France 2017
Continued pressure from the French government -2.09% vs. the 2016 tariff level – in line with Capio’s expectations
New prices are valid March 1, 2017 to February 28, 2018
Full price list (price per treatment) not yet known - business mix impacting final effect
Another challenging year ahead, but we are determined to fully compensate for this in 2017
Volume growth
Productivity improvements
Procurement
Turnaround of a few lagging units
Aiming for full compensation of the 2017 price reduction
Capio AB (publ) – March 2017

10. Financial performance by segment 2013-2016
Capio Nordic
Capio France
Capio Germany
Net sales & organic sales growth1
Net sales & organic sales growth1
Net sales & organic sales growth
7,243
7,584
6,968
6,544
5,313
4,869
5,098
4,552
5.4
4.6
3.8
4.0
3.5
2.4
2.4
2.4
2.0
2.7
0.7
1,031
1,123
1,145
1,172
1.9
Operating result (EBITA) and margin1
Operating result (EBITA) and margin1
Operating result (EBITA) and margin
371
314
287
286
283
316
7.1
6.3
6.5
6.4
262
5.6
5.3
233
4.9
5.0
4.9
4.4 74 83
3.6
3.8 52 55
to 2014 adjusted for structural changes made in Refer to Capio Annual Report 2015 page 26 and 43.
Strong development in Nordic and Germany. France burdened by price reductions
Capio AB (publ) – March 2017

11. Group financial performance 2012-2016
Net sales & organic sales growth1
Operating result (EBITDA) and margin1
Operating result (EBITA) and margin1
13,486
14,069
12,960
12,127
10,292
1,061
972
1,001
896
4.1
818
644
3.3
592
544
7.4
7.5
7.4
7.5
2.5
437
483
4.6
2.9
7.9
4.2
4.4
2.3
4.2
4.0
Organic sales growth
EBITDA growth
EBITA growth
EBITA growth
3.3%
2.6%
3.0%
7.0%
6.0%
6.4%
10.6%
8.8%
9.3%
Mean
2016
Q3 2016
CAGR
2016
Q3 2016
CAGR
2016
Q3 2016
to 2014 adjusted for the structural changes made in Refer to Capio Annual Report 2015 page 24.
Current development slightly below the long-term performance
Capio AB (publ) – March 2017

12. Capio has a clear strategy matching the needs of an ageing Europe
Summary
Increasing demand for healthcare
Modern Medicine
AVLOS, day surgery and digitalization
15%
19%
29%
60+
Age
1960
2010
2050
Time
Demand driven by aging population, new treatment methods and chronic conditions
Performance gaps between countries opportunity for increased productivity
Modern Management
Solid performance overall in line with target
Empowered organization to drive change and improved efficiency
Positioned for continued growth, organically as well as acquisitive growth
Capio has a clear strategy matching the needs of an ageing Europe
Capio AB (publ) – March 2017