Second quarter 2016 PresentationAugust 11, 2016

• Troax is the global market leader of indoor perimeters

protection (“mesh panel solutions”)

• Relative market share is ~2.5x larger than #2 player

• Local presence in 31 countries

• Troax had a sales CAGR 2011-2015 of 14.5% and an

organic sales CAGR 2011-2015 of 9,0%

• Strong position in the value chain and low supplier and

customer dependency

• 36% of total employees work within sales

Troax in brief

Financial development, 2011 – 2015Overview

Sales by end-market (2015)Sales by region (2015)Product offering

Machine guarding

Warehouse partitioning

Property protection

EUR million

SALES AND ADJ. EBITA MARGIN

3

Source:. Company information 1) Ownership after conversion of preference shares 2) Yearly figures are based on Troax financials. 3) Defined as Operating cash flow/Adj. EBITDA

Machine guarding56%

Warehouse partitioning 28%

Property Protection16%

60,871,7 70,1

91,2103,7

10,2%

18,0%

14,7%

17,9%

21,6%

0,0%

5,0%

10,0%

15,0%

20,0%

25,0%

0

20

40

60

80

100

120

2011 2012 2013 2014 2015

Sales EBITA Margin

“Troax’ target is to pay approximately 50 percent of its net

profit in dividends. The dividend proposal shall take into

account Troax’ long-term development potential, it’s financial

position and its investment needs.”

Financial targets

“Troax’ objective is to exceed the growth in the Company’s

current markets through organic growth, as well as selective

acquisitions”

“Troax’ target is to have an operating margin in excess of 20%”

“Net debt in relation to EBITDA, excluding temporary

deviations, shall not exceed 2.5 times.”

Sa

les g

row

thP

rofita

bili

ty

Ca

pita

l

str

uctu

re

Div

ide

nd

po

licy

Organic: 14%

M&A: 2%

17,8%

2,0x

N/A

>Market

growth

Sales growth

20%

Adjusted EBITA

margin

<2.5x

Net debt to

EBITDA

50%

Pay-out ratio

Actuals 2016

Q2Financial targets

• Positive trend from previous quarters

continued

• Growth in order intake of 18 per cent

in Q2 and an improved order

situation in all regions.

• Sales increase of 11 per cent

- All regions increased excl. UK

Summary Q2 2016

• Decrease in result development

- increase in market investments

- implementation of new line

• Positive development again

in Satech

• New paint line is up and running

and investments in new markets is

according to plan

Financial highlights, Group

Regional Development

Order Intake and Sales

6

• The good development continues in the second quarter even if result still

is negatively influenced by two factors.

• Growth in all regions

• Good capacity utilization and volumes continue to drive profitability

• Continued good and stable cash flow after paid dividend in May.

Conclusion

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