Letter From the Group CEO Go to contents 4 to manage the situation, and I would also like to thank our clients for their cooperation and understanding. We were able to openly share each other’s pain points, and to also share costs so that no single party was shouldering all of the costs. The situation stabilised after two or three months. Some projects were put on hold, others continued, and new projects came up as well. Nevertheless, even with the situation stable, it was necessary to prioritise business resilience and long-term stability in terms of the projects we took on. Therefore, we made a strategic decision to focus more on governmental projects, and ensure all projects we took on had secure cash flow. As a result of this approach we now have three major hospital projects secured in the Nordic region: the Radiumhospitalet in Oslo, the 118,000m 2 North Zealand Hospital in Denmark, and most the Landspitali Hospital in Iceland impressively our first project in Iceland and our largest to ever in terms of contract value (€47 million). These projects, and the many others we have secured and are working on, represented a double victory for our company in 2022. Firstly, these are exciting projects in important markets that keep us at the cutting edge of façade design and technology. Secondly, they ensure our long term resilience and stability thanks to their scale and government backing. A sustainability strategy rooted in partnership and long-term thinking 2022 saw the publication of our corporate sustainability strategy. In our 3 year strategic cycle formulated in 2020, we committed to becoming leaders in sustainability. We spent 2 years understanding the market’s needs, developing an extended view of what our sustainability offering should encompass that goes well beyond simply looking at CO2 emissions or planting trees. We then cooperated with the Swiss sustainability consultancy, Sustainserv, who guided us through the development of our sustainability strategy and helped us identify 5 focus areas: Each of these focuses was then broken down into specific elements. For example, included within the Transparency focus area is a commitment to business resilience through risk and cost management. After all, there is no point in having amazing sustainability initiatives if our company is not around for the long-term to deliver on them. Reevaluating our approach to negotiation Another of our sustainability focus areas, Partnership, led us to reconsider the way we approach negotiation with the help of leading negotiation strategist Keld Jensen. Our aim is to be profitable, and for our partners to be profitable as well, which is especially important in a sector with low profit margins like construction. Working together with Keld Jensen and exploring his Smartnership framework, we looked into ways to find hidden value in negotiations that create win-win situations. Achieving this requires a high level of transparency. Furthermore, both parties need to have a mindset that is oriented around teamwork and delivering the project in the best way possible. We look forward to launching our corporate negotiation strategy in 2023, which will provide guidelines for our organisation, and we hope will become a benchmark for the industry. Continuing our Agile journey In 2022, we decided to change gears in our journey of becoming an Agile organisation. This included developing a new Agile framework, and continuing to listen closely to feedback from the cross-functional project teams that are now using Agile methods. Transparency 01 Partnership 02 Innovation in Design and Delivery 03 Being a Sustainable Organisation 04 Climate Protection 05