Prevas : Annual and sustainability report

A N N U A L A N D S U S T A I N A B I L I T Y R E P O R T

2022

Contents

PREVAS - HOME OF INGENUITY

About us	4
The past year	5
A word from the CEO	6
Markets & sectors	9
Our Portfolio	15
Brands & objectives	18

SUSTAINABILITY REPORT

Sustainability for us	21
Our stakeholders	27
Attractive and responsible workplace	30
Responsible business partner	39
Sustainable solutions and services	46
Sustainability notes and GRI-index	50

FINANCIAL INFORMATION

Management report	58
Financial Overview	65
Notes	79
Auditor's report	120
Corporate governance report	127
Information to shareholders	135
Shares	136
Board of directors & Group management	138
Addresses	140

ANNUAL AND SUSTAINABILITY REPORT 2022

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About the report

The Annual and sustainability report 2022 for Prevas AB is submitted by the Board and describes the company's overall objectives and strategies and the year's results. Management report and accounts can be found on pages 56-119. Prevas reports in accordance with GRI Standards. The pages 20-55 covers Prevas' statutory sustainability report according to requirements in the Annual Reports Act.

This is a translation of an original document in Swedish. In case of dispute, the original document should be taken as authoritative (Års- och hållbarhetsredovisning 2022 at www.prevas.se). Or contact the company direct.

Prevas AB

Org. No. 556252-1384 Box 4, Glödgargränd 14 SE-721 03 Västerås Mail: [e-mail] Tel. [phone]

www.prevas.se

Home of Ingenuity

At Prevas, ingenuity permeates everything that we do and everyone is part of the solution. We are convinced that openness, independence and collaboration make us stronger. Ultimately, that is what Prevas is all about.

We call it the Home of Ingenuity.

Malin,

Application specialist

HOME OF INGENUITY

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About Prevas.

Prevas is a development hub with ingenuity at its core. We use great technical expertise and business understanding to help our customers within widely differing industries to gain greater benefits from the technological advances of our time. Good for people, the planet and profits.

Prevas was established in 1985 and currently employs approximately 900 people in Sweden, Denmark and Norway. Prevas has been listed on NASDAQ Stockholm since 1998.

Prevas is a place where everyone has the opportunity to grow. Our employees are our highest priority and together we find solutions. It is them who are the driving force that contribute to us working better as a company. Our sense of family is what unites us.

Prevas has a strong position in product and production development. The mix of technical excellence, innovation height, the ability to develop complex solutions with a welcoming work atmosphere is a desirable combination. To date, we have participated in over 8,500 product launches and at least as many production solutions.

The world is faced by a number of global challenges and Prevas wants to contribute to a more sustainable world, primarily though technical achievements and by participating in assignments that make a difference.

What we do

Since starting we have worked with technical solutions within product development and production - that do good.

For more information about Prevas, please visit www.prevas.se.

We make it possible

At Prevas we're constantly facing challenges. Discussing, learning from each other and collaborating are as important as working individually in developing new technologies and innovative solutions.

Our culture

Our core values - business driven, open- minded, active och team player - help us to achieved shared success. We're always open to new ideas, and creativity is allowed to flow freely between colleagues and friends.

You can find us here

Sweden; Arboga, Finspång, Gävle,

Gothenburg, Karlskoga, Karlstad, Linköping, Luleå,

Lund, Malmö, Norrköping, Stockholm, Uppsala and

Västerås

Denmark; Aalborg, Aarhus and Copenhagen

Norway; Oslo

ABOUT US

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Active markets.

Our relationships with customers are often very long term. It is therefore extra rewarding to see that during the year 125 new customers have chosen to use Prevas to solve their needs, which are often complex and demanding.

Several important events during the year:

Strong operational year with increased sales and profits.

Prevas' strategy with a focus on profitability and growth continued during 2022, with good results. During the year, Prevas' management and Board of Directors have reviewed and set the company's financial goals. See page 18 for more information about the goals.

Employer value proposition and increased equality.

To help retain employees and to attract new employees, during the year we have clarified our Employer Value Proposition (EVP). This also has also led us to publish a new careers page to attract more talent. There is still much to do within equality but we can be satisfied that the trend is going in the right direction.

Uncertain world.

The horrific developments in Ukraine, with so much human suffering as a result of the aggressive invasion, have not affected Prevas as a company to any great degree. Prevas has no employees, partners or customer assignments in Russia or Ukraine. There are also other aspects that create uncertainty for the future, especially with our customers, such as inflation, problems with transport, raw materials, material and semi-conductor components. These are risks that are difficult to assess, and Prevas' strategy to address them is to be as adaptable and dynamic a company as possible.

4 acquisitions during the year

Tillväxtmyllan AB, April 1st, 100% includes subsidiary factor10 solutions AB, 60%

BitSim NOW AB, May 1st, 100%

Myra Industriell Design AB, November 1st, 100%

Koteko AB, November 1st, 100% includes subsidiary Koteko Installation AB, 80%

THE PAST YEAR

CUSTOMERS

Customer rating, 8.7 on a scale of 1 to 10

Largest customers,

Saab / Ericsson / Sandvik / ABB / Atlas Copco Examples of more customers can be found on pages 11-13.

SALES AND PROFIT

Sales, 1,324 MSEK

Profitability EBIT, Operating profit MSEK

200		159.2
150		133.2
100	47.0	65.5

50 9.5

0

2018

2019

2020

2021

2022

Profit per share,

9.32 SEK before dilution, 9.29 SEK after dilution

EMPLOYEES

Percentage,

total, 80% men, 20% women on the Board of Directors, 62% men, 38% women

Number of employees,

882 in total,

of which Sweden 88%, Denmark 10%, Norway 2%

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