Nordstjernan has sold a portion of its holding in NCC

Nordstjernan Aktiebolag (”Nordstjernan”) has completed a sale of 6,047,875 B-shares in NCC AB (publ) (“NCC”, or the ”Company”) to Swedish and international institutional investors, of which 1,355,140 are B-shares that will be delivered post reclassification of A-shares to B-shares. The number of B-shares sold corresponds to 6.1 per cent of the capital and 3.0 per cent of the votes post reclassification. The sale of shares was conducted through a club deal procedure at a price of SEK 107.0 per share (the “Placement”). Following the Placement, Nordstjernan will hold 3,636,501 A-shares, which corresponds to 3.6 per cent of the capital and 17.9 per cent of the votes, and Nordstjernan will now view their holding as a financial position, rather than strategic. As a consequence, Nordstjernan may sell or convert their remaining A-shares at a later stage.

In connection with the Placement, current owner OBOS BBL (“OBOS”) acquired all of the 1,355,140 B-shares that will be delivered post reclassification of A-shares to B-shares, which corresponds to 1.4 per cent of the capital and 0.7 per cent of the votes, for a consideration of 145 MSEK. Following the Placement, OBOS' holding consists of 5,000,000 A-shares and 3,355,140 B-shares, which corresponds to 8.4 per cent of the capital and 26.2 per cent of the votes. OBOS is a leading Norwegian property developer growing substantially in the Swedish market, and has profound experience throughout the value chain, both as a property developer and as an active owner in the publicly listed construction companies Veidekke and AF-Gruppen.

“Nordstjernan has been an active owner in NCC since the company was formed in 1988, through the merger of JCC and ABV. Together with the board and the management team, we have established a competitive construction company, with a market-leading position in the Nordic region, and we are very proud of the Company's development. In recent years, we have reduced our holding in NCC and this Placement aligns with Nordstjernan's strategy going forward. The collaboration with OBOS has been very successful, and we firmly believe they are the right partner for NCC. I would like to express my sincere gratitude to the Company's management and employees for their efforts and I am pleased that OBOS is taking over as the largest owner in NCC", says Peter Hofvenstam, Chief Executive Officer of Nordstjernan.

“We are happy for the opportunity to increase our holding in NCC as we believe the company is well-positioned for the future. OBOS will continue to contribute as a long-term, active owner", says Daniel Kjørberg Siraj, Chief Executive Officer of OBOS.

In connection with the Placement, Nordstjernan has entered into a lock-up agreement relating to the remainder of its holding post Placement up to and through January 31 2024.

Skandinaviska Enskilda Banken AB acts as Sole Bookrunner and White & Case acts as legal advisor to Nordstjernan in connection with the Placement.

Peter Hofvenstam

Chief Executive Officer

Nordstjernan AB

Questions will be answered by:

Kajsa Andersson, Communications Manager Nordstjernan

Telephone: +46 76 148 82 84

E-mail: kajsa.andersson@nordstjernan.se

Nordstjernan is predominantly owned by the Axel and Margaret Ax:son Johnson Foundations. Since its establishment in 1890, Nordstjernan has owned and developed hundreds of companies in a range of industries. Today, Nordstjernan has investments in more than 20 companies in five sectors. Together, these companies have sales of SEK 120 billion and employ more than 50,000 people. Read more on www.nordstjernan.se.

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