Divestment of VårgårdaHus AB (SE) to HusCompagniet (DK) by TB-Gruppen AB (SE) — Amount not disclosed

Carnegie acted as sole financial adviser to TB-Gruppen in the divestment of VårgårdaHus to HusCompagniet. VårgårdaHus, based in Vårgårda, Sweden, is a company engaged in building single-family wooden houses to the Swedish market. May 2017.