Calculate P/Sales, P/EBITDA, and P/E for each of the peer group companies for 2021F and 2022F based on material provided.

Calculate averages for different pricing multiples for the years 2021F and 2022F.

Derive Ponsse Oyjs value based on peer group companies multiples and your estimates of Ponsses sales, EBITDA, and EPS of 2021 and 2022.

ANALYST ESTIMATES FOR PEER GROUP COMPANIES AND PONSSE OYJ Company Currency Share price EBITDA (EURmio) EPS (EUR) BETA Nr. of shares Million Sales (EURmio) 2021E 2022E 60,0 70,0 2021E 2022E 2021E 2022E EUR 21,00 4,000 6,0 6,0 1,20 1,40 1,35 Comp C01 Comp CO2 Comp CO3 EUR 15,00 23,00 190,0 200,0 25,0 29,0 0,90 0,95 0,951 EUR 8,50 65,00 350,0 370,0 45,0 47,0 0,45 0,48 1,10 Ponsse Ovi EUR 44,10 28,00 796,0 872,0,0 115,0 126,0 2,52 2.821 1.25 MANAGEMENT ESTIMATES (PONSSE OYJ) 2021E 2022E 800,0 875,0 Magagement estimates Sales (EUR mio) EBITDA (EUR mio) EPS (EUR) 128,01 116,0 2,55 2,85