Slides
Page 1
Copenhagen, Denmark | 8 January 202 6 Update on FLSmidth SEB Nordic Seminar 202 6
Page 2
Forward - looking statements 8 Jan 2026 SEB Nordic Seminar 2026 2 FLSmidth & Co . A/S’ financial reports, whether in the form of annual reports or interim reports, filed with the Danish Business Authority and/or announced via the company’s website and/or NASDAQ Copenhagen, as well as any presentations based on such financial reports, and any other written information released, or oral statements made, to the public based on this report or in the future on behalf of FLSmidth & Co . A/S, may contain forward - looking statements . Words such as ‘believe’, ‘expect’, ‘may’, ‘will’, ‘plan’, ‘strategy’, ‘prospect’, ‘foresee’, ‘estimate’, ‘project’, ‘anticipate’, ‘can’, ‘intend’, ‘target’ and other words and terms of similar meaning in connection with any discussion of future operating or financial performance identify forward - looking statements . Examples of such forward - looking statements include, but are not limited to : • Statements of plans, objectives or goals for future operations, including those related to FLSmidth & Co . A/S’ markets, products, product research and product development . • Statements containing projections of or targets for revenues, profit (or loss), CAPEX, dividends, capital structure or other net financial items . • Statements regarding future economic performance, future actions and outcome of contingencies such as legal proceedings and statements regarding the underlying assumptions or relating to such statements . • Statements regarding potential merger & acquisition activities . These forward - looking statements are based on current plans, estimates and projections . By their very nature, forward - looking statements involve inherent risks and uncertainties, both general and specific, which may be outside FLSmidth & Co . A/S’ influence, and which could materially affect such forward - looking statements . FLSmidth & Co . A/S cautions that a number of important factors, including those described in this report, could cause actual results to differ materially from those contemplated in any forward - looking statements . Factors that may affect future results include, but are not limited to, global as well as local political and economic conditions, including interest rate and exchange rate fluctuations, delays or faults in project execution, fluctuations in raw material prices, delays in research and/or development of new products or service concepts, interruptions of supplies and production, unexpected breach or termination of contracts, market - driven price reductions for FLSmidth & Co . A/S’ products and/or services, introduction of competing products, reliance on information technology, FLSmidth & Co . A/S’ ability to successfully market current and new products, exposure to product liability and legal proceedings and investigations, changes in legislation or regulation and interpretation thereof, intellectual property protection, perceived or actual failure to adhere to ethical marketing practices, investments in and divestitures of domestic and foreign enterprises, unexpected growth in costs and expenses, failure to recruit and retain the right employees and failure to maintain a culture of compliance . Unless required by law FLSmidth & Co . A/S is under no duty and undertakes no obligation to update or revise any forward - looking statement after the distribution of this report .
Page 3
Latest news and key topics 8 Jan 2026 SEB Nordic Seminar 2026 3 Geopolitics , incl. tariffs Mining market conditions CEO transition announced
Page 4
Through key strategic actions, we now have our target Mining technology and service portfolio in place 8 Jan 2026 SEB Nordic Seminar 2026 4 Key strategic initiatives • Significant de - risking of order intake • Pruning of Mining Products portfolio • Reduction of third - party content in commercial contracts • Exit from non - strategic activities, incl. bulk material handling and basic labour contracts Illustrative development in annual Mining order intake (DKKbn) 2022 De - risking Portfolio pruning Reduced third - party content Non - Core Activities exited 2025 ~ 18 ~ 15 Soft Products market DKK ~3bn
Page 5
Our core transformation activities are driving a structural margin expansion 8 Jan 2026 SEB Nordic Seminar 2026 5 Mining gross profit DKKm and ratio to sales Mining SG&A costs DKKm and ratio to sales, reported figures 3,794 4,672 3,701 25.2% 32.5% 35.1% FY’22 27.3% FY’23 5,056 FY’24 9M’25 2,444 2,977 3,016 2,096 16.2% 19.4% 19.9% FY’22 FY’23 FY’24 9M’25 17.4% To remain stable within 31 - 33% range To gradually decline towards FY’26
Page 6
Key steps in establishment of scalable growth platform 8 Jan 2026 SEB Nordic Seminar 2026 6 Support functions Scaling of back - office functions to current market environment as well as stand - alone mining operations Global business centres Establishment of three global business centres (Chennai, Monterrey and Bucharest) OneMining Implementation of the OneMining operating model, including updates of ERP platform and establishment of principal company model Commercial investments Part of synergies from acquisition of Mining Technologies have been re - invested into the commercial front - end, incl. in the PC & V business
Page 7
We are showing strong progression towards our FY2026 financial target 8 Jan 2026 SEB Nordic Seminar 2026 7 Mining EBITA and EBITA margin DKKm and ratio to sales FY2026 EBITA margin target 13 - 15% 14.5% 15.3% Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 EBITA Adj. EBITA EBITA margin Adj. EBITA margin
Page 8
We are well - progressed on our strategic journey 8 Jan 2026 SEB Nordic Seminar 20268 Drive consistent value creation Growth Defining the core 2023 2026 Our pure play Mining journey as set out in January 2023
Page 9
8 Jan 2026 SEB Nordic Seminar 2026 9 Questions & answers
Page 10
Investor information 8 Jan 2026 SEB Nordic Seminar 2026 10 2026 FINANCIAL CALENDAR 18 February 2026: 2025 Annual Report 24 March 2026: Annual General Meeting 13 May 2026: Q1 2026 Interim Financial Report 19 August 2026: H1 2026 Interim Financial Report 11 November 2026: Q3 2026 Interim Financial Report SHARE INFORMATION Market Nasdaq Copenhagen Symbol FLS Number of shares 57,650,000 Sector Constructions and materials INVESTOR CONTACTS ANDREAS HOLKJÆR SANDAGER Head of Investor Relations Phone: +45 2485 0384 Email: andh@flsmidth.com JANNICK LINDEGAARD DENHOLT SVP, Head of Corporate Affairs & IR Phone: +45 2169 6657 Email: jli@flsmidth.com
Page 11
Thank you Follow us here 8 Jan 2026 SEB Nordic Seminar 2026 11 FLSmidth & Co. A/S Vigerslev Allé 77 2500 Valby, Copenhagen Denmark Phone: +45 3618 1000 Email: info@ FLSmidth .com www.flsmidth.com CVR: 58180912