MT Højgaard Holding

Regulatory Filings • Jun 19, 2015

Stock exchange announcement

19 June 2015

Page 1 of 3

MT Højgaard and Silicor Materials sign major contract

Enclosed please find MT Højgaard A/S's release of 19 June 2015 regarding that the Group today has signed a conditional contract worth approximately DKK 1.5 billion for construction of a production plant in Iceland.

This announcement does not give rise to any changes in the previously published expectations of the economic development in the MT Højgaard group.

Højgaard Holding A/S holds an ownership interest of 54 % in MT Højgaard.

The projections concerning future financial performance are subject to uncertainties and risks that may result in a development that deviates substantially from what is expected.

Best regards, Højgaard Holding A/S

Ditlev Fløistrup CEO

Torben Biilmann, CEO, MT Højgaard, tel. +45 2270 9020 Contacts: Ditlev Fløistrup, CEO, Højgaard Holding, tel. +45 4520 1500 Søren Bjerre-Nielsen, chairman of the board, Højgaard Holding, tel. +45 4520 1500

This statement has been translated from the Danish language, and in the event of any discrepancies between the Danish and English language versions, the Danish language version is the governing text.

Højgaard Holding A/S Smakkedalen 4, 1 DK-2820 Gentofte

Phone: +45 4520 1500 Telefax: +45 4520 1501

hojgaard@hojgaard.dk www.hojgaard.dk Reg. no. 16 88 84 19

Announcement 19 June 2015

MT Højgaard and Silicor Materials sign major contract

Today, the Group has signed a conditional contract worth approximately DKK 1.5 billion for construction of a production plant in Iceland.

MT Højgaard today entered into a contract with Silicor Materials, a producer of high-quality solar silicon, to build a 121,000 square metres production plant in the industrial area Grundartangi, 40 kilometres from Reykjavik, Iceland. The plant will be used for production of silicon to be used in solar cells.

For more than a year, MT Højgaard has worked with Silicor to optimise the construction project.

• This process is a model example of how we as consultants and contractors can add value when we are involved in construction projects from the initial stage. During the process, we have optimised the structures and adapted the buildings to ensure that Silicor gets the best value for money in terms of both planned production and future flexibility, said Vice President Jóannes Niclassen, MT Højgaard.

In addition to construction, MT Højgaard will be responsible for project design, planning and consulting. The design phase will now begin based on documents prepared during the negotiation period. Construction is scheduled for completion in 2018.

The production plant will be MT Højgaard's first project in Iceland in recent years. It will strengthen the company's North Atlantic division, which is already active in Greenland and the Faroe Islands.

• Industry of this scale will often attract other major production facilities, and we are interested in assignments in Iceland that match MT Højgaard's risk profile. This specific project also fits perfectly with MT Højgaard's strategy of entering projects in the initial stage and in this way optimising them to enable us to deliver fast, efficient and high-quality services, said Torben Biilmann, President and CEO of MT Højgaard.

The contract is worth approximately DKK 1.5 billion, and is subject to the condition that Silicor Materials' complete financing is formalised, a process which can now be finalized. The project is expected to have a positive effect on MT Højgaard's consolidated revenue and earnings during the term of the project, but it will not have any impact on the company's current financial guidance.

Forward-looking statements are inherently subject to risk and uncertainty which may cause actual developments to differ materially from the guidance provided.

Contacts

Tel. +45 2270 9020 Tel. +45 2270 9214

Torben Biilmann Sofie Karen Lindberg President and CEO Director, Corporate Marketing & Communication

Silicor Materials produces solar silicon to meet the unique cost and performance needs of PV manufacturers. The company's novel manufacturing process unlocks significant cost reduction without sacrificing quality, and its products achieve performance on par with global industry

standards. Silicor is based in San Jose, California, with additional locations in Ontario, Canada and Berlin, Germany. Investors include Hudson Clean Energy Partners, Advanced Technology Ventures, Globespan Capital Partners and Good Energies. For more information, please visit silicormaterials.com.

The MT Højgaard Group is one of the leading players in the construction and civil engineering industry in the Nordic countries. The Group undertakes projects in Denmark and specific activities in selected countries. The Group consists of the company MT Højgaard and a group of specialised wholly or partly owned subsidiaries. Our services extend to all types of projects in the construction and civil engineering industry. Productivity, sustainability and quality are focus areas for the MT Højgaard Group's 4000 employees. The Group generates revenue of DKK 7 billion. mth.dk