Investor presentationFilago ASJanuar 2018

• Established in 2012

• Filago has projects that builds a new green society,through new technology and sustainable businessdriven by environmental concerns

• Filago creates value by being involved in ALL aspectsof property development including zoning,architecture, marketing and the whole buildingprocess to the handover of turnkey-finished houses

• In 2016 Filago finished construction phase 1 ofNorway´s first full scale Ecovillage in Hurdal with 64homes sold, built and delivered

• Filago is closely collaborating with both municipalitiesand government to zone new land for Ecovillage-projects

• Filago has a project pipeline that is likely to lead tonew projects in attractive areas around and in urbanOslo, in addition to other major cities

Introduction – Filago Group

EcovillagesAktivhus

Propertyzoning

Filago Group Overview

• Hurdalssjøen Økologiske Landsby SA• The farm in Hurdal on which the village is situated

• Fremtidssmia Økologiske Næringssenter AS• The local sustainability business centre

• Aktivhus Hurdal AS• Development company for phase 1 in Hurdal

• Aktivhus Entreprenør AS• Filago’s housing contractor for Hurdal 1

• Stilla Utvikling AS• Development company

• Aktivhus AS• Aktivhus concept and brand owner

Filago AS

100 % 70 % 100 %100 % 100%

Filago Gran AS Filago Tjøme AS

Filago Hurdal AS

100 %

100 %

100 %100 %

Filago Prosjekt Holding 1 AS

Stilla UtviklingAS

Aktivhus Entreprenør AS Aktivhus AS

FremtidssmiaØkologiske

NæringssenterAS

HurdalssjøenØkologiskeLandsby SA

Aktivhus Hurdal AS

100 %

Filago Prosjekt Holding’s Portfolio of Property

Hurdal 2: – 1 hour’s commuting to Oslo– 25 minutes drive to Oslo Airport– 52 000 m² of land– Planned to build approx. 120 units

Gran, Hadeland: – Just over 1 hour’s commuting to

Oslo– Close to Jaren railroad station– 130 000 m² of land– Planned to build approx. 180 units

Tjøme:– 1 hour and 30 minutes drive to Oslo– 20 minutes drive to Tønsberg (rail

road)– 45 000 m² of land– Planned to build approx. 100 units

Oslo

Hurdal

• The property area is divided into 5 differentresidential plots

• First plot fully developed with 64 residences,completed and sold in 2016 (phase 1)

• The four remaining plots have a potential ofapproximately 120 residences with a total area of10 000m2

• Application for building permit is submitted for allfour remaining plots and is expected approvedshortly

• Expected construction start in Q1 2018

• Estimated revenue of NOK 430m with expectedproject profit of NOK 65m

Plot 1 Fully developed

New plots

Detailed plans for 4 new plots

Tjøme

• The project consists of three properties at Ormlet on Tjøme

• The plan is to build approx. 30-35 residential units per property

• School, nursery school, sports arenas and recreational areas inthe immediate vicinity

• All three properties are residential areas in the municipalmaster plan. The zoning plan is expected to be approved in2018 with submission of application for building permitexpected in Q3 2018

• Expected construction start for Tjøme 1 in Q4 2018, while theremaining two plots expect to have startup in 2019

• Expected sales revenue of NOK 440m with expected projectprofit of NOK 65m

Tjøme 1 Tjøme 2 Tjøme 3

Gran

• Located at Jaren in Gran municipality, Hadeland

• Gran consists of two adjoining properties; Rognekollen Nord(north) and Rognekollen Sør (south), with a potential of 180residences (15 000 m2)

• Rognekollen Sør is zoned and application for building permit isplanned to be submitted in Q2 2018 with construction start inQ1 2019

• Rognekollen Nord is residential area in the municipal masterplan. The zoning plan is expected to be approved in 2018 withapplication for building permit expected in 2019

• Expected sales revenue of NOK 680m with expected projectprofit of NOK 102m

Rognekollen sør

Management

Trygve Strand, CFO Filago AS• Siviløkonom/MSc from BI• Experience from Finance and Group Treasury in

Telenor ASA and REC ASA• Background as financial auditor KPMG

Helge Lund-Roland, Owner and board member• Architect from NTH• 17 years of experience from real estate

development from idea to implementation• Previous experience from Profier Gruppen AS

Rolf Jacobsen - Architect• Architect from AHO• Expert in sustainable real estate planning and

development• 30 years experience as a project architect• Established Gaia Architects (1985) and Aktivhus

(2009)

Bård Hauge – CEO Filago AS• Journeyman Carpenter• 20 years of experience from management

positions within industry• Previously Corporate Supply Director with Aker

Solutions and Sales and Marketing director atBrødrene Dahl

Geir Svendsen – Project Director Filago• Civil Engineer from NTNU• Wide experience (34 years) from industrial

business areas• Management experience from large energy

projects and pulp/paper industry

Pål Lund-Roland, Owner• MSc Norwegian School of Economics and

Business Administration• 25 years of experience with conceptual and

industrial real estate development• Co-founder of Profier Gruppen AS

• Mamatoto’s board and management have experience from Orkla,Nordic Capital, Profier gruppen and Estatia

• Total asset of NOK 208m and equity/shareholder loan of a totalof NOK 96m

• Mamatoto is focused mainly on commercial real estate• Mamatoto is owned 50/50 by Rygh and Lund-Roland• Mamatoto owns 68.3% of Filago AS

Main Shareholder of Filago - Mamatoto AS

Rental apartments, Kirkenes

Grocery store, Kirkenes

Hurdal Eco Village

The ultimate owners

Tom Vidar RyghChairman

Tom Vidar has worked within Finance and Industry for more than 30 years. Over the last twenty years he has, amongst other activities, directed financial activities of Orkla ASA, was CEO of Enskilda Securities AB and been partner in Nordic Capital. He has been Chairman or a member of a wide range of Boards such as Telenor ASA, Oslo Stock Exchange and StorebrandASA.

Tom has a Master Degree in Business from the Norwegian School of Economics and Business Administration.

Pål Lund-RolandCEOPål has worked 25 years with conceptual and industrial real estate development. Over the last twenty years he has co-started the Profier Gruppen AS and the Estatia Group

Pål has a Master Degree in Business Administration from the Norwegian School of Economics and Business Administration.

Business Model

Project search

Project development

and zoningProject

initiationSales and marketing

Construction phase

Delivery of homes

Filago holds the reins in the projects from start to finish; from zoning, concept development, concept visualization, project development and all the way to delivery of a finished in-house developed Aktivhus

(Property zoning while held by Filago) (Property sold to the project subsidiary) (Property divided and sold to end users)

Increasing land values

• Filago is working closely withmunicipalities and private owners tofind, regulate and develop suitableproperties

• Municipalities are supportive to theenvironmental friendly developmentconcept

• In all processes Filago seeks to createan attractive project for both theresidents and for the community as awhole, serving as a mean to helpfacilitating ”the green shift”

Conceptual, repetitive real estate development

• Filago either owns 100% or is themajority owner of the propertydevelopment projects

• The value chain is controlledthrough partners and subsidiariesthat are developing, initiating andconstructing the projects

• Targeted project-margin is 15%

Delivery of Aktivhus to Filago projects and to external customers • Filago has developed and owns

their own brand of environmentallyfriendly houses called “Aktivhus”.Filago is now developing a scalabledelivery system for the houses

• Aktivhus is a house built almostentirely of natural materials and is«self breathing» and naturallyventilated

• Filago will continue developing,delivering and maintaining thebrand value of Aktivhus and itstechnology

Aktivhus – Registered Trademark Since 2009

• Aktivhus consists almost entirely of natural materials,and is recommended by The Norwegian Asthma andAllergy Association

• Low maintenance external siding minimizes the need touse chemicals during the home´s lifespan

• Ventilation systems using manually controlled fresh airchannels, as an alternative to standard methods ofmechanical ventilation

• Solutions, pricing and delivery verified through the R&Ddone in the construction phase one in Hurdal EcoVillage

• Upgraded and improved solutions ready forimplementation in phase two

Filago’s Existing Portfolio of Other Projects

Eidsverket, Bjørkelangen:– Planned built about approx. 9 000

m2 housing– Estimated start : 2019

Nesodden:– 15 minute ferry-ride from Aker

Brygge, down town Oslo– Full scale Eco Village.– “Approx. 300 000 m2 land– 20 - 30 000 m2 of housing with

about 250 – 400 dwellings– Estimated start.: 2020

Bærum:– A suitable lot has been identified

together with the local municipality– Approx.: 180 - 240 dwellings– Estimated start: 2019

Asker:– A suitable lot has been identified

together with the local municipality– Estimated start: 2019

Oslo:– A suitable lot has been identified

with the local municipality for a pilotproject in he city center

– Estimated start: 2019

Tromsø:– A suitable lot has been identified

together with the local municipality– Estimated start: 2020

Skytterhustunet, Kirkenes:– Zoned for housing– Planned approx. 3500 m2 housing

with 50 dwellings– Estimated start : 2018

Appendix

• Mamatoto owned by Tom-Vidar Rygh and PålLund-Roland

• HLR Invest AS is Helge Lund-Roland

Filago Ownership

Shareholder Share%

Mamatoto AS 68.26 %

HLR Invest AS 10.23 %

Ulven Investment AS 7.67 %

Win-Win AS 6.17 %

Likida Invest AS 3.98 %

Gunnbjørn Gulliksen 2.21 %

Mahendra Shah 1.47%

Total 100.0 %

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