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PRESS RELEASE 30 MAY 2019 INTERIM REPORT JANUARY - MARCH 2019

JANUARY - MARCH 2019 · Revenue increased by 135.6 % to SEK 445.6 million (189.2). Inclusion of VSM and Samgräv January – March 2018 as well as Samgräv January 2019 results in a pro forma** revenue increase of 36.5 % or SEK 125.5 million driven by VSM SEK 90.4 million, Bellmans SEK 32.4 million, MST SEK 6.6 million and Samgräv SEK 16.9 million. · EBITDA before items affecting comparability increased with 199.5 % to SEK 49.8 million (16.6). On a pro forma level EBITDA increased by 101.9 % or SEK 27.3 million driven by VSM SEK 28.5 million and Bellmans SEK 1.8 million partly offset by

YEAR-END REPORT JANUARY - DECEMBER 2018

OCTOBER - DECEMBER 2018 · Revenue increased by 73.3% to SEK 395.2 million (228.0). Excluding VSM for the period October to December 2018, revenue increased by 13.4% to SEK 258.6 million (228.0), mainly reflecting sales growth for Bellmans (strong market demand). · EBITDA before items affecting comparability increased to SEK 39.8 million (10.1). Excluding VSM for the period October to December 2018, EBITDA before items affecting comparability improved by 76.2% to SEK 17.8 million (10.1), mainly reflecting solid profit growth by MST (improved gross margins) and Bellmans (profitable

Bellman Group carries out an internal restructuring in order to simplify its legal group structure

Bellman Group AB (publ) (the “Company” or “Bellman Group”) has initiated certain intragroup transactions in order to simplify the structure of the group. After the restructuring, the group will still consist of four brands, Uppländska Berg, Bellmans, VSM and Samgräv.After the internal restructuring, the Company will have four direct subsidiaries, being Bellmans Åkeri & Entreprenad AB, Uppländska Bergborrnings Aktiebolaget, VSM Entreprenad AB and Samgräv Holding AB. Through the internal restructuring, the group will become more cost effective since part of the administrative work carried

Bellman Group completes acquisition of Samgräv Holding AB

Bellman Group AB (publ) (”the Company” or ”Bellman Group”) has today completed the acquisition of Samgräv Holding AB (“Samgräv”) as announced on 13 December 2018.On 13 December 2018, Bellman Group entered into an agreement with the owner of Samgräv regarding acquisition of all shares in the company and indirectly its subsidiaries, conditional upon that the Company obtains required financing and that the Swedish Competition Authority approves the acquisition. Both conditions have now been met and closing has taken place today. The initial cash payment of SEK 100 million has been paid in

VSM Entreprenad enters into agreement with NCC

Bellman Group AB’s (publ) (”the Company” or ”Bellman Group”) subsidiary VSM Entreprenad AB (”VSM Entreprenad”) has entered into an agreement with NCC regarding excavation and handling of masses in the sub-project E02 Centralen, a part of the West Link (Västlänken) in Gothenburg, at a value of approximately SEK 200 million.VSM Entreprenad has entered into an agreement with NCC regarding excavation and removal of masses and transport of backfill material from crushing plants. The masses shall be transported to tips provided by the Swedish Transport Administration. VSM Entreprenad will carry

Bellman Group increases its outstanding bond loan by SEK 100 million

Bellman Group AB (publ) (the “Company” or “Bellman Group”) increases its outstanding bond loan (ISIN: SE0009889553) by SEK 100 million. The new bonds will be issued at a price of 99 per cent. of the nominal amount. After the tap issue, the total outstanding amount of the Company’s bond loan will be SEK 600 million, which equals the total framework amount of the bond loan. The bond loan is listed on Nasdaq Stockholm and the Company will also apply for listing of the new bonds on Nasdaq Stockholm. The settlement date of the new bonds is set to 25 January 2019. The issue proceeds will

Bellman Group AB publishes financial information and preliminary result for the financial year 2018

Bellman Group AB (publ) (the ”Company” or ”Bellman Group”) publishes financial information and preliminary result for the financial year 2018 prior to the holding of investor presentations in connection with the Company’s contemplated issue of new bonds under the Company’s existing bond loan.Starting on 14 January 2019, Bellman Group will meet with potential investors in connection with the Company’s contemplated issue of new bonds under the Company’s existing bond loan. Prior to these presentations, the Company has chosen to publish the following financial information and preliminary

Bellman Group AB acquires Samgräv Holding AB with domicile in Gothenburg

Bellman Group AB (publ) (the ‘’Company’’ or ‘’Bellman Group’’) has entered into an agreement regarding acquisition of the machine contracting company Samgräv Holding AB (‘’Samgräv’’).On 13 December 2018, Bellman Group entered into an agreement with the owner of Samgräv regarding acquisition of all shares in the company and indirectly its subsidiaries. The initial purchase price for the acquisition amounts to SEK 144.0 million and will consist of a cash payment in the amount of SEK 100.0 million and newly issued shares in Bellman Group valued at SEK 44.0 million, after the new issue

Communication from the extraordinary general meeting of Bellman Group AB (publ)

Monday 10 December 2018, Bellman Group AB (publ) (”the Company” or ”Bellman Group”) held an extraordinary general meeting. Among other things, the extraordinary general meeting resolved to elect a new board of directors.The extraordinary general meeting elected Christina Ragsten and Ingalill Östman as new board members for the period until the end of the next annual general meeting. Robin Karlsson resigned from the board. In connection with the amendments, Björn Andersson is taking over the role as chairman of the board of directors. The board of directors thus consists of Björn

INTERIM REPORT JULY - SEPTEMBER 2018

JULY – SEPTEMBER 2018 · On 17 July, 2018, Bellman Group completed the acquisition of the machine contracting company, VSM Entreprenad AB, purchasing all of the shares in the company and also acquired, indirectly, its subsidiaries and associated companies. The acquisition was funded by new equity and the issuance of new corporate bonds. The income statement for the Bellman Group per September 2018 includes VSM financial data for the period August to September 2018.  · Revenues increased 53.6% to SEK 300.5 million (195.6). Excluding VSM for the period August to September 2018,

Bellman Group completes acquisition of VSM Entreprenad AB

Bellman Group AB (publ) (”the Company” or ”Bellman Group”) has today completed the acquisition of the machine contracting company VSM Entreprenad AB (“VSM”) as announced on 4 June 2018.On 4 June 2018, Bellman Group entered into an agreement with the owners of VSM regarding acquisition of all shares in the company and indirectly its subsidiaries and associated companies, conditional upon that the Company obtains required financing and that the Swedish Competition Authority approves the acquisition. Both conditions have now been met and closing has taken place today. The final purchase

Bellman Group obtains the bondholders’ consent to deviate from and to amend the terms and conditions of the company’s outstanding bonds

At the request of Bellman Group AB (publ) (the “Company” or “Bellman Group”) a meeting by way of procedure in writing was summoned on 11 June 2018 among the holders of the Company’s outstanding bonds 2017/2022 (the “Written Procedure”). The Written Procedure has now expired and the Company has received the bondholders’ approval to the proposal set out in the notice. The Written Procedure expired on 29 June 2018. The proposal in the notice to the Written Procedure received acceptance from 100 per cent of the votes cast, and a sufficient number of bondholders participated in the Written

Bellman Group increases its outstanding bond loan by SEK 280 million, conditional upon the bondholders’ approval of the written procedure

Bellman Group AB (publ) (the “Company” or “Bellman Group”) increases its outstanding bond loan (ISIN: SE0009889553) by SEK 280 million. The issue is conditional upon the bondholders’ approval of the amendments and waivers proposed by the Company in the written procedure (the “Written Procedure”) initiated by the Company on 11 June 2018 (the “Condition”). Provided that the Condition is fulfilled, the bonds will be issued at a price of 100.50 per cent. of the nominal amount, which illustrates the strong demand for the tap issue. After the tap issue, the total outstanding amount of the

Bellman Group summons bondholders’ meeting by way of procedure in writing

Bellman Group AB (publ) (the “Company” or “Bellman Group”) summons a meeting among the bondholders (the “Holders”) by way of a procedure in writing (the “Written Procedure”) for its outstanding bonds 2017/2022 with ISIN SE0009889553 with an aggregate amount outstanding of SEK 220,000,000 (the “Bonds”). As announced by the Company by way of a press release on 4 June 2018, the Company has entered into an agreement regarding acquisition of all shares in VSM Entreprenad AB and indirectly its subsidiaries and associated companies. Bellman Group intends to finance the acquisition through an

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