Interim Report January – March 2020

STABLE DEVELOPMENT IN THE FIRST QUARTER

Revenue increased to SEK 3,814m (3,669), and revenue excluding JM Construction, Business area Construction (under closure), amounted to SEK 3,768m (3,719).

Operating profit increased to SEK 483m (313)¹⁾. The operating margin increased to 12.7 percent (8.5). Operating profit excluding JM Construction, Business area Construction, amounted to
SEK 491m (506) and the operating margin to 13.0 percent (13.6).

Profit before tax increased to SEK 462m (291). Profit after tax increased to SEK 364m (228).

Return on equity for the past twelve months amounted to 23.3 percent (18.4). Earnings per share for the first quarter increased to SEK 5.20 (3.30).

Consolidated cash flow including net investment in properties amounted to SEK 188m (468).

The number of residential units sold increased to 805 (667), and housing starts increased
to 637 (406).

¹⁾ The profit included the one-off cost for the discontinuation of the housing operations (Business area Construction) in
JM Construction of SEK –180m reported during the first quarter 2019.

Financial information according to segment reporting.

For additional information, please contact:
Claes Magnus Åkesson, CFO, +46 (0)8 782 89 71

This information is information that JM AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 2020-04-28.

JM is one of the leading developers of housing and residential areas in the Nordic region. Operations focus on new production of homes in attractive locations, with emphasis on expanding metropolitan areas and university towns in Sweden, Norway and Finland. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM should promote long-term sustainability work in all of its operations. Annual sales total approximately SEK 16 billion and the company has about 2,500 employees. JM is a public limited company listed on NASDAQ Stockholm, in the Large Cap segment. More information is available at www.jm.se/en.