AARSLEFF WORLD EXPERTISE REFERENCES ABOUT AARSLEFF CONTACT INVESTOR CAREER PRESS DANSK Home About Aarsleff History 1947 STEADY AND CONTROLLED GROWTH SINCE 1947 On 4 January 1947, the 29-year-old Per Aarsleff, MSc in engineering, left a secure position with the Danish state. He borrowed 10,000 Danish Kroner from his father’s life insurance, bought an excavator, rented two more and opened a lignite field near Fasterholt in Central Jutland. The business venture had just begun. From difficult individual projects to specialities Per Aarsleff took small, but clever steps. And he characterised his business strategy as follows: Whether fuel, sewers or holes in the ground, we have always specialised in something that was sufficiently difficult so that others could not be bothered, and which at the same time was not too sensitive to market fluctuations in our national economy. Difficult individual projects that have since ended up as specialist fields. At the same time, we have always endeavoured to keep our machines running – and tailor-made for special purposes. His principles turned out to be sustainable, and over the years, they have been the source of sound growth. Today, the original 14 men have turned into several thousand employees in the parent company, subsidiaries and associates. Per Aarsleff died in 2006 at an age of 87 years and until a few years before his death, he was involved in the company. Contact Communications +45 8744 2222 kommunikation@aarsleff.com 1947 The 1970s 1979 The 1980s 1984 The 1990s 1998 1999 2000 2003

AARSLEFF WORLD EXPERTISE REFERENCES ABOUT AARSLEFF CONTACT INVESTOR CAREER PRESS DANSK Home About Aarsleff News News / aarsleff-to-carry-out-three-light-rail-contracts-in-copenhagen 11.01.2018 - Company announcement AARSLEFF TO CARRY OUT THREE LIGHT RAIL CONTRACTS IN COPENHAGEN Hovedstadens Letbane I/S (Greater Copenhagen Light Rail) has announced that they intend to enter into three contracts with the Aarsleff Group for the Copenhagen light rail system. Aarsleff’s share of the three contracts is expected to have a total value of approx. DKK 1.9 billion. Two contracts for Per Aarsleff A/S concern the construction work on the 12-kilometre section Vallensbæk-Brøndby-Glostrup and the 5.7-kilometre section in Lyngby. The estimated value of the two contracts is DKK 1,160 million. The third contract concerns track systems and trains supplied by Aarsleff Rail A/S and the consortium partners Siemens AG and Siemens A/S. This contract has an estimated value of DKK 1.9 billion, and Aarsleff Rail’s share is 38%. The work commences at the beginning of 2018 but during the first 1 to 2 years, it will mainly consist of design and preliminary work. All three contracts are expected to be completed by mid-2023. The contracts are expected to be entered into during this quarter. The contracts do not affect Aarsleff's earnings expectations for the financial year 2017/18. Contact Administrerende direktør Ebbe Malte Iversen 8744 2222 emi@aarsleff.com