No. 37 2016 Quarterly Report Q2 2016 Revenue and

Revenue and EBITA were on par with our expectations for H1, while revenue and EBITA for Q2 2016 were slightly below our expectations. Our outlook for 2016 remains unchanged. In addition to this morning’s acquisition, we are pleased also to announce that we will launch a new buy-back programme on 16 August 2016.

CEO Anders Wilhjelm says: ” We had almost 4% organic growth in Q2, but when adjusted for working days, growth was -1.8%. However, Q2 2015 was by far the strongest quarter in 2015 so it was a tall order to meet. In Q2, we continued to improve our digital touch points to improve the customer experience, and just this morning we announced a new acquisition, which will strengthen our service offerings of training. Moreover, we will launch a new DKK 150m share buy-back programme on top of the current investments in digitalisation and expansion.”

  Q2 2016 revenue

• Q2 revenue was slightly below our expectations.
• Actual organic growth was 3.8%, but -1.8% against 10.1% in Q2 2015 when adjusted for the number of working days.
• Organic growth was impacted by the downward trend within offshore and the loss of Conelgro customers due to the integration into Solar Nederland.

Q2 2016 EBITA

• Q2 EBITA was slightly below our expectations.

2016 outlook

• Our outlook for 2016 remains unchanged.
• We expect the impact of the MAG45 acquisition on revenue to be in the range of DKK 310m but limited on EBITA. The Euro Business School (EBS) acquisition does not change Solar’s overall outlook.
• We expect neither market growth nor organic revenue growth in 2016, giving us a revenue outlook of around DKK 10.9bn.
• We expect EBITA to remain at 2015 levels less the positive one-off of DKK 9m from a change in pension plans in the Netherlands that we saw in 2015, giving us an EBITA outlook of around DKK 287m.
• As previously announced, we plan to invest in our digital platforms to strengthen the customer experience. This will have a negative impact on 2016 profitability, and our present outlook recognises this.

Capital structure The Board of Directors has assessed Solar’s capital structure. The result is a decision to launch a new share buy-back programme of DKK 150m on 16 August 2016, structured as an auction process. More information will be available at the actual launch.

Audio webcast and teleconference today The presentation of Quarterly Report Q2 2016 will be made in English on 11 August 2016 at 11:00 CET. The presentation will be transmitted as an audio webcast and accessible via www.solar.eu . Participation will be possible via a teleconference .

Teleconference call-in numbers:

DK: tel. +45 354 455 83 UK: tel. +44 203 194 0544 US: tel. +1 855 269 2604

Yours faithfully Solar A/S

Anders Wilhjelm

Enclosure: Quarterly Report Q2 2016, pages 1-27.

Facts about Solar Solar Group is a leading European sourcing and services company, operating primarily within the electrical, heating and plumbing, and ventilation technology sectors. Our core business centres on product sourcing, value-adding services and optimisation of our customers’ businesses.

Being a sourcing and services company, we focus on each individual customer. We always strive to understand our customers’ unique and genuine needs in order to provide relevant, personal and value-adding services, turning our customers into winners.

Solar Group is headquartered in Denmark, generated revenue of approximately DKK 10.6bn in 2015 and has some 3,000 employees. Solar has been listed on Nasdaq Copenhagen since 1953, and operates under the short designation SOLAR B. For more information, please visit www.solar.eu .

Disclaimer This announcement was published in English and Danish today via Nasdaq Copenhagen. In the event of any inconsistency between the two versions, the English version shall prevail.