169.2 (165.1) MEUR, up by

2.5% and 3.3% at comparable exchange rates

22.2 (25.3) MEUR or

13.1% (15.3%) of net sales

and

reorganization costs 20.4 MEUR

14.2 (24.8) MEUR or

8.4% (15.0%) of net sales

43.3 (32.2) MEUR, up 34.5%

after investments -1.3 (9.7)

MEUR

In 2016, Ramirent’s net sales in local currencies are expected to increase from the level in 2015 and EBITA-margin is expected to be lower than in 2015.

Our profitability development did not reach its potential in Q3.

We will now focus on our short-term performance improvement and turnaround activities in parts of our business, where the profitability is not sufficient.

5.9

2.4 2.2

17.3%

8.2% 7.0%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

22%

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

Q12014

Q2 Q3 Q4 Q12015

Q2 Q3 Q4 Q12016

Q2 Q3

1.6 2.2 2.2

11.3% 14.0% 14.0%

-16%

-12%

-8%

-4%

0%

4%

8%

12%

16%

-5.0

-4.0

-3.0

-2.0

-1.0

0.0

1.0

2.0

3.0

4.0

5.0

Q12014

Q2 Q3 Q4 Q12015

Q2 Q3 Q4 Q12016

Q2 Q3

-0.1

1.4 0.8

-1.2%

12.1%

7.4%

-16%

-12%

-8%

-4%

0%

4%

8%

12%

16%

-5.0

-4.0

-3.0

-2.0

-1.0

0.0

1.0

2.0

3.0

4.0

5.0

Q12014

Q2 Q3 Q4 Q12015

Q2 Q3 Q4 Q12016

Q2 Q3

8.9

7.7

5.9

17.2%

14.3%

10.4%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

22%

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

Q12014

Q2 Q3 Q4 Q12015

Q2 Q3 Q4 Q12016

Q2 Q3

MEUR MEUR MEUR

MEUR MEUR MEUR

Comparable EBITA (MEUR) Comparable EBITA margin

3.7 3.3 3.2

35.8%

32.4% 31.6%

-4%

1%

6%

11%

16%

21%

26%

31%

36%

-1.0

0.0

1.0

2.0

3.0

4.0

5.0

6.0

Q12014

Q2 Q3 Q4 Q12015

Q2 Q3 Q4 Q12016

Q2 Q3

8.3 9.3

8.2

19.0% 20.4%

17.2%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

22%

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

Q12014

Q2 Q3 Q4 Q12015

Q2 Q3 Q4 Q12016

Q2 Q3

• Asset write-downs in Temporary Space -5.9 MEUR (Norway)

• Project reassessments in Scaffolding solutions business -2.2 MEUR (Sweden)

• Reorganization costs -0.7 MEUR (Group and Sweden)

• Derecognition of contingent consideration liability +0.7 MEUR in Finland

• Write-downs of intangible assets due to discontinuing roll-out plan of common business platform (mainly ERP) outside Scandinavia -10.9 MEUR

• Impairment loss of -0.8 MEUR from investment in Temporary Space (Norway)

*IACs: Items affecting comparability

165.1

+3.6 +0.7 -0.2

169.2

140

145

150

155

160

165

170

175

Q3

20

15

Ren

tal sales

An

cillary sales

Sales of eq

uip

men

t

Q3

20

16

165.1

+2.0

+3.0 +0.3 -1.0 -0.1 -0.0

169.2

140

145

150

155

160

165

170

175

Q3

20

15

Fin

land

Swed

en

No

rway

Den

mark

Eu

rop

e East

Eu

rop

e Cen

tral

Q3

20

16

*Excluding sales between segments

68.8% 67.6%

63.3% 63.0%

40%

45%

50%

55%

60%

65%

70%

75%

Q12013

Q2 Q3 Q4 Q12014

Q2 Q3 Q4 Q12015

Q2 Q3 Q4 Q12016

Q2 Q3

•

0%

10%

20%

30%

40%

50%

60%

70%

80%

Q12013

Q2 Q3 Q4 Q12014

Q2 Q3 Q4 Q12015

Q2 Q3 Q4 Q12016

Q2 Q3

63.7

58.1 55.3

60.7

38.3% 35.5%

33.5% 35.9%

0%

10%

20%

30%

40%

50%

60%

0

10

20

30

40

50

60

70

80

Q12013

Q2 Q3 Q4 Q12014

Q2 Q3 Q4 Q12015

Q2 Q3 Q4 Q12016

Q2 Q3

51.9 53.0

60.6 62.7

31.2% 32.4%

36.7% 37.0%

0%

10%

20%

30%

40%

50%

60%

0

10

20

30

40

50

60

70

80

Q12013

Q2 Q3 Q4 Q12014

Q2 Q3 Q4 Q12015

Q2 Q3 Q4 Q12016

Q2 Q3

0.16 0.17

0.13

-0.02 -0.02

0.00

0.02

0.04

0.06

0.08

0.10

0.12

0.14

0.16

0.18

0.20

Q12013

Q2 Q3 Q4 Q12014

Q2 Q3 Q4 Q12015

Q2 Q3 Q4 Q12016

Q2 Q3

(-0.00)

EBIT

Financial income

Financial expenses

Total financial income and expenses

EBT

Income taxes

PROFIT FOR THE PERIOD

EPS (EUR)

Comparable EPS excl. one offs, EUR

28.0

21.0

30.8

42.0

16.8%

12.8%

18.6%

24.8%

0%

5%

10%

15%

20%

25%

30%

35%

40%

0

10

20

30

40

50

60

Q12013

Q2 Q3 Q4 Q12014

Q2 Q3 Q4 Q12015

Q2 Q3 Q4 Q12016

Q2 Q3

Investments in machinery and equipment Share of net sales-%

143.8

77.3

43.3

27.0

31.7

0 50 100 150 200

Capital expenditure 1-9 2016

Depreciation excl. asset write-downs 1-9 2016

Capital expenditure Q3 2016

Depreciation excl. asset write-downs Q3 2016

(Committed investments)

43.9 41.7

Q3 15 Q3 16

-34.2

-43.1

Q3 15 Q3 16

34.4

13.7

9.7

-1.3

-30

-20

-10

0

10

20

30

40

Q12013

Q2 Q3 Q4 Q12014

Q2 Q3 Q4 Q12015

Q2 Q3 Q4 Q12016

Q2 Q3

1.1x

1.5x

1.7x

2.2x

0.0

0.5

1.0

1.5

2.0

2.5

3.0

Q12013

Q2 Q3 Q4 Q12014

Q2 Q3 Q4 Q12015

Q2 Q3 Q4 Q12016

Q2 Q3

230.3

259.7

286.4

357.3

0

50

100

150

200

250

300

350

400

Q12013

Q2 Q3 Q4 Q12014

Q2 Q3 Q4 Q12015

Q2 Q3 Q4 Q12016

Q2 Q3

2017 2018 2019 2020 2021

Loans from financial institutions 24%

Commercial papers 48%

Bond 28%

Floating 47%

Fixed 53%

Average interest rate

3.25%

Average interest rate

0.42%

www.ramirent.com

Tapio Kolunsarka, President and CEO

Pierre Brorsson, CFO

Franciska Janzon, SVP, IR

above GDP* +2%-points

12% per fiscal year

below 2.5x at end of each fiscal year

at least 40% of Net Profit

*Estimated total GDP growth in Ramirent countries at 2.0% for 2016

(at comparable exchange rates)

43.5 45.7 47.6

19.0% 20.4% 17.2%

17.9% 14.9%

16.7%

In General Rental, growth was favorable driven by new residential and non-residential construction projects

In Solutions, sales development was at a good level in particular in the industry sector EBITA was supported by favorable volume growth and a higher share of General Rental in the sales mix, but weighed down by higher fixed costs and depreciation

Up by 4.1%

52.0 53.8 56.6

14.3%

10.4%

17.3% 15.7%

11.8% 17.2%

All business areas contributed to sales growth based on strong demand in the construction sector

Unfavorable sales mix and continued costs for reorganizing hub structure and higher depreciation costs lowered profitability Actions were started to reorganize the Scaffolding solutions business where profitability has been unsatisfactory

Up by 5.3% or 6.2% at comparable exchange rates

34.0

29.4 30.9

8.2% 7.0%

17.6%

5.6% 3.3%

9.2%

Sales increased mainly in General Rental supported by good demand in most regions

Demand in Temporary Space continued to be low and the short-term outlook remains challenging Discontinuation of the highly customized non-standard modules business in Temporary Space and refocusing of the business

Up by 5.3% or 7.1% at comparable exchange rates

10.1 11.2

10.3

-1.2%

12.1%

7.4%

-8.6%

-3.2%

5.8%

In General Rental, demand remained stable in the construction sector, whereas volume development was slower in Solutions

Good demand for temporary space rental continued Cost reduction measures have resulted in a lower cost base in the operations, but lower volumes impacted negatively on profitability

Down by 7.9% or 8.1% at comparable

exchange rates

10.3 10.2 10.1

31.3% 29.8% 27.9%

13.4% 15.6% 11.5%

Good sales growth in Estonia, while lower construction activity impacting on sales in Latvia and Lithuania

EBITA at a high level in the Baltics supported by increased rental sales and good control of material and services costs Fortrent: Sales growth, price increases and decrease in the cost base supported profitability

Down by 1.1%

14.2 15.4 15.4

11.3% 14.0% 14.0%

1.7%

7.2% 4.7%

In Poland, stable demand in General Rental and good progress in large Solutions projects. In Slovakia and Czech Republic sales development also contributed to growth.

EBITA was supported by improved price levels in Poland and Slovakia as well as improved control of material and services costs Reorganizations to be started in the fourth quarter to improve profitability

Down by 0.2% but up by 2.3% at

comparable exchange rates

20

07

Q1

20

07

Q2

20

07

Q3

20

07

Q4

20

08

Q1

20

08

Q2

20

08

Q3

20

08

Q4

20

09

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

10

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

11

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

12

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

13

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

14

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

15

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

16

Q1

20

16

Q2

20

16

Q3

• Nordic construction order books increased by 11.8% at comparable exchange rates compared to the previous year

• Order book growth was driven by large non-residential construction projects in Finland and continued high activity in the Swedish residential and infrastructure markets

• Infrastructure construction increasing in Norway, while development is more modest in other sectors

NO

RD

IC O

RD

ER

BO

OK

S (B

EU

R)

AN

D C

HA

NG

E Y

-O-Y

average

Light machinery

Lifts

Modules

Scaffolding Heavy

machinery

Power and heating

Tower cranes and hoists

SAFE

Planning

On-site support

Rental insurance

Business support

Merchandise sales

Training

Ramirent SpaceSolveTM

Ramirent AccessSolveTM

Ramirent PowerSolve

TM

Ramirent TotalSolveTM

Ramirent SafeSolveTM

Ramirent EcoSolveTM/

Tryggare Byggare

Ramirent ClimateSolve

TM

• Machines rented with planning/installation/ demobilization services

• Growth especially in large and complex construction projects

• Differentiates Ramirent from smaller competitors

• Retail-type business with mostly machinery rental

• Typical rental length a few days/weeks

• Core business that enables the broad fleet, network and organisation

• High-class temporary space solutions for office, accommodation and public sector needs

• Typically longer multi-year rental lengths

• Complementary offering to equipment rental

Share of Group sales

• European equipment rental market size approx. EUR 24 billion

• Fragmented industry – over 15,000 rental companies

• Average rental penetration in Europe at 1.6%

• European equipment rental market is expected to grow by 2.8% in 2016 and 1.9% in 2017, respectively

Low penetration 0.0% – 1.0% Medium penetration 1.0% – 3.0%

High penetration > 3.0%

The leading and most progressive equipment rental solutions company

• Annual net sales growth > GDP+2 %-points • Return on Equity (ROE) 12% per fiscal year • Net debt/EBITDA < 2.5x at the end of each fiscal year • Dividend pay-out ratio at least 40% of net profit

More than machines

Open, engaged, and progressive

Sustainable profitable growth