Owns, manages and develops residential property

D. CARNEGIE & CO

Stockholm October 23, 2014

AGENDA

1. D. Carnegie & Co in brief

2. Events since listing in April 2014

3. Key figures and earnings capacity as of September

30, 2014

AGENDA

BUSINESS CONCEPT

D. Carnegie & Co is a property company with focus on

housing in the Greater Stockholm area and other growth

areas.

The business concept is to own and manage property with

a gradual renovation, associated with the natural turnover

of tenants.

D. CARNEGIE & CO IN BRIEF

STRATEGY – acquisitions and value growth

• Effective and cost efficient property management

• Constant improvement of the portfolio creating

increasing cash flows and value growth by using the

effective refurbishment method Bosystem™

• Develop building rights in existing properties

• Continue acquisition of similar properties on favourable

terms in target areas

D. CARNEGIE & CO IN BRIEF

AGENDA

1. D. Carnegie & Co in brief

2. Events since listing in April 2014

3. Key figures and earnings capacity as of September

30, 2014

AGENDA

ACQUISITION – Hyresbostäder i Sverige II AB

• Closing: 4 July 2014

• Property value: SEK 6,558 m

• Location: Eskilstuna, Strängnäs, Södertälje, Huddinge, Haninge,

Bro, Märsta, Uppsala och Göteborg

• Lettable area: 700,000 sqm of residential area

• Financing:

• 26 million B-shares in D. Carnegie & Co

• SEK 1,020 million by three convertible bonds (340m each)

• Vendor’s note of SEK 200 million

• SEK 1,322 million in cash

• Other: Included 100 people strong property management

company Graflunds, which was established in the 1960s.

Graflunds has, per Oct. 1, assumed responsibility for

management of D. Carnegie & Co:s whole property portfolio.

EVENTS SINCE LISTING

ACQUISITION – Sollentuna

• Closing: 30 September 2014

• Property value: SEK 450 m

• Location: Sollentuna

• Lettable area: approximately 450 apartments, with a total

area of 33,500 m2, and 7,900 sqm commercial premises

• Seller: Wallenstam

• Financing: Bank debt SEK 315m, Vendor’s note SEK113 m

• Other: Wallenstam simultaneously acquired building rights in

Tyresö for SEK 113m for new construction of approximately

200 apartments conditioned on final decision by the Tyresö

municipality. The Vendor’s note is due when the conditions

are met.

EVENTS SINCE LISTING

ACQUISITION – Norrköping

(Not included in the September 30 earnings capacity)

• Closing: Expected October 31 or latest November 30, 2014

• Property value: SEK 1,000 million

• Location: Norrköping

• Lettable area: 1,900 apartments

• Seller: Sörmlandsporten AB (owned 50% by Kvalitena and

50% by Fondex AB)

• Financing: Bank debt SEK 650m, Vendor’s note SEK150 m

• Other: Graflunds is already taking care of administration and

the properties are managed by former Graflunds staff,

employed in the property owning company; Östgötaporten

EVENTS SINCE LISTING

D. CARNEGIE & CO as per 30 September

• Residential properties of approximately 1,030,000 sqm

• Market value of more than SEK 10.1 billion

• Rental income of approximately SEK 1,021 million/year

• No vacancies - except ongoing refurbishment

• Renovation rate of:– approximately 250 apartments during 2014

– targeting approximately 750 apartments 2015

• Property management totally in-house through Graflunds

from October 1

EVENTS SINCE LISTING

AGENDA

1. D. Carnegie & Co in brief

2. Events since listing in April 2014

3. Key figures and earnings capacity as of September

30, 2014

AGENDA

KEY FIGURES per September 30

• Total property value of approx m 10,127,000 SEK– Where approx m 7,200,000 SEK has been acquired post IPO

• Loans of approx m 5,795,000 SEK– Average maturity of loans is 2,1 years

– Average interest rate on loans is 3,6 percent

• LTV of 57 percent

• 70,768,876 shares outstanding in D. Carnegie & Co

KEY FIGURES AND EARNINGS

EARNINGS CAPACITY – 2014-09-30*

*Does not include the acquisition in Norrköping dated Oct 1, 2014

KEY FIGURES AND EARNINGS

Amounts in SEK m Sep 30, 2013 – Sep 30, 2014 pro forma

Rental income 1,021,721

Other income 7,423

Operating costs -409,818

Maintenance costs -95,089

Property tax -20,679

Rent for leasehold site -12,020

Net operating income 491,538

Central administration -41,150

Financial net -203 280

Interest convertible bonds -51 000

Income from property management 196,108

SHAREHOLDERS – October 22, 2014

• Possible dilution upon conversion of convertible notes issued to Svensk

Bolig Holding AB

KEY FIGURES AND EARNINGS

B-shares Votes capital % votes %

04-07-2016 6 679 764 6 679 764 7,65% 6,14%

04-07-2018 5 160 546 5 160 546 5,91% 4,74%

04-07-2019 4 691 406 4 691 406 5,37% 4,31%

Sharholders

Holdings, A-

shares Holdings, B-shares Capital, % Votes, %

Kvalitena AB 4 182 051 15 400 776 27,7 39,4

Svensk Bolig Holding AB - 26 000 000 36,7 28,2

Frasdale International B. V. 1 088 472 4 353 887 7,7 10,6

SEB (nominee) 40 382 2 271 834 3,3 2,7

Lannebo Sverige - 1 362 570 1,9 1,5

Länsförsäkringar Fastighetsfond - 1 292 224 1,8 1,4

Nordea Småbolagsfond Sverige - 1 047 104 1,5 1,1

SEB-Stiftelsen Pensionsstiftelse - 1 000 000 1,4 1,1

Svenska Handelsbanken (nominee) - 976 773 1,4 1,1

Lannebo Sverige 130/30 - 879 595 1,2 1,0

Government of Norway - 743 727 1,1 0,8

Other 58 961 10 070 520 14,3 11,2

Total 5 369 866 65 399 010 100,0 100,0

D. Carnegie & Co AB Strandvägen 5A 114 51 Stockholm www.dcarnegie.se

Thank you