Skanska divests captive subsidiary Scem Reinsurance for EUR 54M, about SEK 510M

Skanska has sold 100 percent of the share capital in Scem Reinsurance S.A., a Skanska captive subsidiary in Luxemburg, to ArcelorMittal. The purchase price is EUR 54M, about SEK 510M, on a debt free basis. The divestment will be recorded in the fourth quarter of 2016. The transaction will not have any material impact on the profit for the period.

The divestment takes place after a strategic review of Skanska’s European insurance activities, resulting in a decision to consolidate all such business in Skanska’s captive in Sweden.

The transfer of the shares has been approved by the Luxembourg regulator Commissariat aux Assurances.

For further information please contact:

Andreas Joons, Press Officer, Skanska AB, tel +46 (0)10 449 04 94

Direct line for media, tel +46 (0)10 448 88 99

This and previous releases can also be found at www.skanska.com

The information provided herein is such as Skanska AB is obligated to disclose pursuant to the EU market securities act (EU) no. 596/2014.

Skanska is one of the world’s leading construction and project development companies, focused on selected home markets in the Nordic region, other European countries and North America. Supported by global trends in urbanization and demographics, and by being at the forefront in sustainability, Skanska offers competitive solutions for both simple and the most complex assignments, helping to build a sustainable future for customers and communities. The Group currently has 43,100 employees in selected home markets in Europe and North America. Skanska's sales in 2015 totaled SEK 155 billion.