Q4 2017 PresentationFebruary 15, 2018

Focus on products and services within: • Fuel and materials testing• Fuel and reactor management software • Life cycle management of nuclear and radioactive hazards

We develop, sell and deliver innovative technical solutions to create superior value by improving performance and reducing risk.

Our Focus and Offerings

2018-02-15 2Year-end 2017 Presentation

October – December 2017

October – December 2016

Full year2017

Full year2016

Sales, SEK million 165.4 246.3 704.8 758.8

Gross margin,% 18.4 36.9 23.5 29,5

Operating Profit, SEK million -35.7 27.0 -41.6 24.7

Operating margin, % -21.6 11.0 -5.9 3.2

Profit after net financial items, SEK million -39.4 18.1 -58.7 -0.6

Profit per share after tax, SEK -3.65 0.22 -5.47 6.59

Free cash flow, SEK million* -30.6 -22.2 -84.2 129.6

Investments, SEK million 6.9 5.5 22.1 15.3

Net debt/Equity ratio, % 35.1 0.8 35.1 0.8

Average number of employees 667 695 662 687

Financial performance

2018-02-15 Year-end 2017 Presentation 3

* Includes Waste Treatment which was divested 2016

2018-02-15 Year-end 2017 Presentation 4

• Sales SEK 165 (246) million – decrease with 33 percent

• Gross margin 18 (37) percent

• Operating result SEK -36 (27) million

• Restructuring costs SEK 15 (8) million

• Free cash flow SEK -31 (-22) million (2016 excl. divestment of Waste Treatment)

• YTD operating result SEK -42 (25) million (includes restructuring)

• No FBSR license sale in Q4 vs SEK 23 million in Q4-2016

• Consultancy Services weak in Germany and Sweden

• Fuel & Materials Technology weak Q4 following the unplanned stop in the Hot Cell facility

• Studsvik Scandpower continues to suffer from customers longer procurement processes

• Restructuring of head office and business areas – increased customer focus at reduced cost

Analysis of key ratio development Q4

Consultancy ServicesBusiness Area Fuel and Materials Technology Studsvik Scandpower

2018-02-15 5

K E Y O F F E R I N G S – CO N S U LTA N C Y S E RV I C E SWe m a n a g e R a d i o a c t i v e H a za r d s t o ke e p o u r c u s t o m e r s S a fe

Environmental Services

- Norm

Engineering – Waste Mgmt Processes

Nuclear Decommissioning

-Radio logica l inventory, characterizat ion & c learance

Repository Optimization

- Safety Analys is , L icensing and P lanning

Radiation Safety & Protection

Radioactive Waste Management

Year-end 2017 Presentation

Consultancy ServicesBusiness Area Fuel and Materials Technology Studsvik Scandpower

October -December

2017

October -December

2016Full year

2017Full year

2016

Sales, SEK million 84.4 128.9 407.3 448.4

Operating Profit, SEK million -13.3 7.9 2.9 14.0

Operating Profit margin, % -15.8 6.1 0.7 3.1

Investments, SEK million 2.3 0.3 4.0 2.4

Average number of employees 497 525 492 523

Financial performance

2018-02-15 Year-end 2017 Presentation 6

Consultancy ServicesBusiness Area Fuel and Materials Technology Studsvik Scandpower

• Sales SEK 84 (129) million

• Operating profit SEK -13 (8) million

• Restructuring costs SEK 1 (6) million

• YTD operating profit SEK 3 (14) million.

• No FBSR license sale in Q4 vs SEK 23 million in Q4-2016

• Low demand and utilization ratio in Germany and Sweden

• USA and UK improving performance over last year

• Continued focus on FBSR-technology and related engineering services

• Progress in Japan with Kobe Steel joint venture

• Progress in China with Dynatech license agreement

• Projects in France (Areva) and USA (Department of Energy) moving forward

Operational highlights

2018-02-15 Year-end 2017 Presentation 7

Consultancy ServicesBusiness Area Fuel and Materials Technology Studsvik Scandpower

2018-02-15 Year-end 2017 Presentation 8

KEY OFFERINGS – FUEL & M ATERIALS TEC HNOLOGYF u e l & M a t e r i a l s L i f e C y c l e

Transport of Irradiated Materials

Final & Interim Storage Research

Engineering

Fuel Qualification Hot Cell Technologies

Plant Life Management

Consultancy ServicesBusiness Area Fuel and Materials Technology Studsvik Scandpower

Financial performance

2018-02-15 Year-end 2017 Presentation 9

October –December 2017

October –December 2016

Full year 2017

Full year2016

Sales, SEK million 54.4 65.9 195.0 196.3

Operating Profit, SEK million -1.7 10.2 5.3 29.7

Operating Profit margin, % -3.1 15.5 2.7 15.1

Investments, SEK million 2.9 4.9 13.8 11.7

Average number of employees 101 93 101 93

Consultancy ServicesBusiness Area Fuel and Materials Technology Studsvik Scandpower

• Sales SEK 54 (66) million

• Operating profit SEK -2 (10) million

• Restructuring costs SEK 1 (1) million

• YTD operating profit SEK 5 (30) million

• Incident in Hot cell facility in September reduced Q4 revenue and profit with SEK 12 million

• Hot cell in full operation since mid December and no customer orders lost

• 400 MSEK contract signed with Elekta for supply of medical isotopes over initially nine years

• Continued strong demand for services offered by business area

Operational highlights

2018-02-15 Year-end 2017 Presentation 10

Consultancy ServicesBusiness Area Studsvik ScandpowerFuel- and Materials Technology

112018-02-15 Year-end 2017 Presentation

K E Y OF F E R I N GS - STUD SVI K S CA N D POWERN u c le a r A n a ly s i s S o f t ware & S e r v i ces

Fuel Design, Core Design, Core Monitoring & Plant Performance

Optimization

Consulting, Engineering Services

& Knowledge Transfer

Operator Training Simulation

Used Fuel Analysis & Management (Interim and

Permanent Storage)

New and Advanced Reactor Design &

Licensing

Consultancy ServicesBusiness Area Studsvik ScandpowerFuel- and Materials Technology

Financial Performance

122018-02-15 Year-end 2017 Presentation

October -December

2017

October -December

2016Full year

2017Full year

2016

Sales, SEK million 24.6 42.4 81.0 96.4

Operating Profit, SEK million -2.0 13.6 -11.8 2.8

Operating Profit margin, % -8.1 32.1 -14.6 2.9

Investments, SEK million 0.5 0.1 0.7 0.1

Average number of employees 34 32 34 34

Consultancy ServicesBusiness Area Studsvik ScandpowerFuel- and Materials Technology

Operational highlights

132018-02-15 Year-end 2017 Presentation

• Sales SEK 25 (42) million

• Operating profit SEK -2 (14) million

• Restructuring costs SEK 3 (0) million

• YTD operating profit SEK -12 (3) million

• Continued demand for Software and services but procurement processes are longer

• Export approval for China being processed but uncertain when approval will be granted

• Broaden offering by adding application for spent fuel and additional consultancy services

• Focus on increasing and expanding commercial activities and reach

Challenges & Opportunities Across the Globe

Mixed picture Europe• Profitability issues• Cost reduction initiatives• Germany phasing out• Finland & UK invest• Decommissioning of several units• Life time extension

Cost focus in North America• Profitability issues• Nuclear promise – reduce cost 30 %• Decommissioning• Life time extension• R&D new fuel and reactor types

Strong growth in Asia• New reactors• China, Russia and Korea investing• Japan to start a limited number• R&D new fuel and reactor types

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Studsvik Customer Values

• Risk Mitigation - 70 years of EXPERIENCE in the global nuclear community

• Safety and Efficiency - Helping our customers meet regulatory compliance while minimising cost

• Commitment - Supporting our customers through long term relationships

Studsvik executive management team

2018-01-01 Corporate Presentation 16

Camilla Hoflund

CEO

Pål Jarness

CFO

Steven Freel

Business Area PresidentStudsvik Scandpower

Stefan Bergström

Business Area PresidentConsultancy Services

Joakim LundströmBusiness Area President

Fuel & Materials Technology

Appendix

Balance sheet

December 2017 December 2016

Assets

Non-current assets 456.6 447.1

Current assets 368.3 453.9

Total assets 824.9 901.0

Equity and liabilities

Equity 288.1 348.1

Non-controlling interest 0.3 0.4

Non-current liabilities 364.7 359.9

Current liabilities 171.8 192.6

Total equity and liabilities 824.9 901.0

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