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ISS INVESTOR PRESENTATION H1 2026 Interim Report 11 August 2026 - Kasper Fangel , Group CEO & Mads Holm , Group CFO ISS
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2 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin INVESTOR PRESENTATION Q2 2026 Agenda ► Executive summary ► Business update ► Financials ► Outlook ► Q&A ► Appendix
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3 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin KASPER FANGEL , GROUP CEO Executive summary
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4 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin Continued strong performance: Improvement across all three KPIs in H1 2026 FINANCIALS Business update: • Overall business developing as expected: Continued strong LFL1) and project volume supporting growth, as well as underlying margin and cash flow improvement versus the same period last year • Continued solid commercial momentum: Improved retention rate to 95% with 13 contract announcements year-to-date and LFL contribution of 2%-points • Deutsche Telekom (DTAG): Contract extended by six years (to 2035) with improved commercial terms following the settlement of past contractual disputes • 2026 outlook re-confirmed: Organic growth: >6%, margin: ~5.25% & underlying FCF: DKK >3.1bn • Capital Markets Day: 14th of September in Copenhagen • Acquisition of Toma: Approval obtained from competition authorities, and the first phase of integration is progressing as planned 8.9% Q2 Organic growth 4.6% H1 Operating margin DKK 0.6bn H1 Free cash flow 1) LFL, Like-for-Like = volume + net new wins
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5 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin KASPER FANGEL , GROUP CEO Business update
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6 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin BUSINESS UPDATE Q2 2026: Solid progress across key business areas 1 2 3 Strategy execution on track Key results ✓ Stronger commercial momentum and improved underlying growth ✓ Specific contractual commercial investments done in the US during H1 2026 ✓ Momentum in the rollout of scalable initiatives across countries Strong financial performance Key results ✓ Q2 organic growth: 8.9% ✓ H1 operating margin: 4.6% ✓ H1 free cash flow: 0.6bn High engagement Key results ✓ ISS Singapore awarded the Best FM Partner Award at the Facility Management Experts Summit ✓ ISS UK voted #1 in five categories in the 2026 FM Brands Survey (i-FM.net) ✓ ISS UK named a finalist for five submissions across four categories at the 2026 IWFM Impact Awards
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7 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin Commercial momentum translates into a stronger 2026 revenue mix BUSINESS UPDATE Segments Wins Expansions/Extensions Reductions/exits 1 2 1 3 2 1 2 1 Total 2026 contract announcements: 13 3 new wins 7 expansions/extensions 3 scope reductions/exits Note: DKK +100m contracts, expansions include one significant contract extension above DKK 0.5bn Financial services Professional services Technology Life Science Local segments
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8 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin BUSINESS UPDATE Growth algorithm on track: Like-for-Like growth continues to drive underlying quality 1) LFL, Like-for-Like = volume + net new wins Illustrative only for H2 2026, all on a LTM basis LFL1) Prices
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9 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin BUSINESS UPDATE Improved maturity profile and pipeline remains solid Continued progress on contract renewals, with 95% LTM retention in line with ambition 6% 15% 9% 1% 3% Smaller key accounts 37% Other customers 29% Expire 2026 Expire 2027 Expire 2028 Expire 2029 Expire 2030+ Chart is based on all global key accounts and key accounts generating revenue above DKK 200 million annually
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10 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin MADS HOLM, GROUP CFO Financials
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11 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin FINANCIALS Robust financial performance in H1 across all KPIs H1 2025 FY outlook H1 2026 ORGANIC GROWTH 4.1% >6% 8.2% OPERATING MARGIN 1) 4.2% ~5.25% 4.6% FREE CASH FLOW 2) DKK -0.6bn DKK >3.1bn DKK 0.6bn 1) Excl. IAS 29, before other items 2) Excl. IAS 29
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12 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin Northern Europe (37% of Group) • Organic growth was mainly driven by price increases and above-base activity across the region • Denmark and the UK delivered the strongest growth in the region driven by the contracts with DWP, COWI and Velux • The underlying margin improvement was reduced by mobilisation costs related to contract start-ups Q2 2026: 4% H1: 6% Central & Southern Europe (37% of Group) • All markets in the region delivered positive organic growth, with the highest contribution from Türkiye and Germany • Organic growth was driven by pricing, above-base, and supported by a one- off event in Q2 • The margin is improving across countries versus the same period last year and is further supported by phasing of DTAG between H1 and H2 Q2 2026: 18% H1: 14% Asia & Pacific (17% of Group) • Organic growth was mainly driven by volume growth, pricing and net new wins. Above-base was slightly negative due to difficult comparisons from the prior year • Pacific and India had a strong contribution to the quarter • The margin was impacted by legal fees in Hong Kong related to the devastating fire at Wang Fuk Court at the end of 2025 Q2 2026: 6% H1: 6% Americas (8% of Group) • Organic growth was negatively impacted by net new wins while volume growth was supportive in the quarter • Organic growth in the US was flat, Chile was negatively impacted by contract exits, while Mexico reported solid positive growth • The margin was impacted by specific commercial investments in the US and restructuring costs in Chile following the exit of a few contracts Q2 2026: 1% H1: 0% FINANCIALS Robust performance across regions Margin H1 26: 1.4% (H1 25: 2.8%)Margin H1 26: 4.9% (H1 25: 4.9%) Margin H1 26: 7.2% (H1 25: 5.6%) 1) Margin H1 26: 6.3% (H1 25: 6.7%) Note other countries represented 1% of Group revenue 1) Operating margin excl. IAS 29
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13 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin FINANCIALS Organic growth of 8.9% in Q2, driven by continued strong revenue quality Organic growth building blocks Net price increases ~ 1% Volume growth ~ 1% Net contract wins ~ 3% Projects and above-base Organic growth ~ 4% 8.9%
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14 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin FINANCIALS Margin development driven by underlying business improvements and further supported by phasing of DTAG between H1 and H2 2022 2023 2024 2025 H1 24 H2 24 H1 25 H2 25 H1 26 4.0% 4.3% 5.0% 5.0% 4.0% 6.0% 4.2% 5.8% 4.6% Excl. hyperinflation (IAS 29)
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15 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin FINANCIALS Improved free cash flow, driven by operating profit and phasing of payments from DTAG 1) Others include ‘Share-based payments’, ‘Other expenses paid’, ‘Non-cash items related to Hyperinflation’ and ‘‘Acquisition of financial assets excl. investments in equity accounted investees’ DKK billion Operating profit excl IAS 29 -1.3 Changes in working capital 0 D&A, Capex and additions to leased assets -0.4 Interest -0.5 Tax payments 0 Provisions 0.1 Others 1) 0.6 Timing effect of DTAG settlement Free cash flow 2.1 0.6
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16 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin Committed to shareholder returns FINANCIALS DKK 3.1bn Share buyback announced DKK 0.5bn Dividend paid ~8% Current payout yield 1) In 2026, ISS will distribute DKK 3.6bn to shareholders in total payouts Capital allocation priorities 1 Protect the balance sheet Maintain leverage 2.0–2.5x net debt/EBITDA and preserve investment-grade credit rating 2 Pay a reliable dividend Annual dividend of 20–40% of adjusted net profit - paid consistently, every year 3 Return surplus capital When bolt-on M&A does not meet our criteria, surplus capital is returned via share buybacks … And share count was reduced by 14.2m shares/ 8% 1) As per 10 August 2026
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17 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin KASPER FANGEL , GROUP CEO Outlook
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18 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin OUTLOOK 2026 outlook: Quality-led revenue and absolute EBITA growth Organic growth Operating margin Net price increases Volume growth Net new wins Projects and above-base Outlook Above 6% Operating margin ~5.25% 1) 1) Excl. IAS 29, before other items
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19 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin OUTLOOK Free cash flow outlook for 2026 Operating profit margin Changes in working capital Interest Tax payments D&A / Capex & Other Underlying FCF Prepayments in 2025 FCF excl. DTAG Payment from DTAG FCF incl. DTAG timing ~5.25% >2.7 -0.2 >2.5 >3.1 DKK billion 0.6
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20 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin EQUITY STORY Summing up: Strong foundation, clear growth path and attractive returns Market leader and strong growth potential Focus on profitability Robust cash flow and disciplined capital allocation Driving sustainable impact and social responsibility Attractive EPS growth
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21 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin KASPER FANGEL , GROUP CEO & MADS HOLM, GROUP CFO Q&A To ask a question press *1
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22 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin Appendix
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23 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin APPENDIX Contract announcements since Q1 2026 Wins • West Sussex Country Council (revenue impact c. +0.1%) Expansions • Defence, Northern Europe (revenue impact c. +0.1%) • Life Science, Central & Southern Europe (revenue impact c. +0.1%) • Energy, Europe (revenue impact c. +0.1%) Loss • Life Science, Northern Europe (revenue impact c. -0.1%) • Life Science, APAC (revenue impact c. -0.1%) 1) Since Q1 results 5 May 2026. Includes contracts above DKK 100mn annually, and extensions above DKK 500mn 1)
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24 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin APPENDIX Quarterly organic growth Quarterly revenue1) and organic growth 15.9 10.1% Q4 22 3.1 16.2 12.0% Q1 23 3.2 16.3 10.9% Q2 23 3.1 16.3 9.3% Q3 23 3.6 16.9 7.1% Q4 23 2.9 17.1 6.0% Q1 24 3.1 17.4 5.8% Q2 24 3.2 17.0 4.8% Q3 24 4.5 17.8 8.3% Q4 24 3.2 17.8 4.3% Q1 25 3.3 17.5 3.8% Q2 25 3.3 17.3 4.9% Q3 25 3.9 3.8 4.1% Q4 25 19.7 19.3 19.5 19.4 20.5 18.3 20.5 20.2 22.3 21.0 20.8 20.6 22.2 20.0 Non-portfolio revenue, DKK bn Portfolio revenue, DKK bn Organic growth 1) Excl. IAS 29 3.5 7.4% Q1 26 18.4 21.9 3.9 8.9% Q2 26 18.7 22.6
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25 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin APPENDIX The ISS investment case in charts We have restored EPS and focus on improvements, DKK Our operating margin is recovering to >5% 1) We deliver solid cash conversion 2) Full focus on ROIC development 1) 2015 11.7% 2016 11.2% 2017 10.1% 2018 7.7% 2019 -15.0% 2020 20.8 4.4% 2021 21.2 11.8% 11.2% 20.8 12.9% 2023 21.6 15.7% 2024 22.1 15.4% 2025 27.7 27.1 27.7 24.9 26.8 21.3 2022 Invested capital incl GW, DKK bn ROIC incl GW 1) Excl. IAS 29 2) Cash conversion = FCF/Operating profit before other items 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM 5.5% 5.6% 5.4% 5.0% 4.2% -4.5% 2.5% 4.0% 4.3% 5.0% 5.0% 5.2% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 65% 66% 68% 64% 11% n.a. 98% 59% 54% 48% 64% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 12.0 12.1 10.9 1.5 7.3 -28 3.3 11.1 1.5 14.3 15.6 17.3 LTM LTM 83% 15.6% 23.3 LTM
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26 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin Sustainability Ratings Credit rating Methodology note, AAA = top score AA rating – 5 straight years Methodology note, low risk = good Identified as a Low Carbon Leader by Sustainalytics 14.5 / 100 – low risk Baa2 stable BBB (stable) Methodology note, 100 = top score 47 / 100 – above industry average in all disclosure categories Methodology note, A = top score B- prime status, Industry leader Methodology note, A = top score, 2023 B, above average for the industry RATINGS Credit & Sustainability ratings
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27 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin CONTACT INFORMATION Trading symbol Identification number / ISIN Number of shares Sector Nominal value, DKK Free float Investor Relations contacts Financial calendar Share information Michael Vitfell-Rasmussen Head of Investor Relations +45 5353 8725 ir@group.issworld.com Anne Sophie Riis Senior IR Manager +45 3052 9468 ir@group.issworld.com ISS A/S Buddingevej 197 2860 Søborg Denmark www.issworld.com Capital Markets Day 14 September 2026 Q3 2026 Trading Update 4 November 2026 ISS DK0060542181 160,000,000 Business Services 1 100% Investor Relations Bond information Maturity 2027 2029 2031 Value EUR 600m 500m 750m ISIN XS1673102734 XS2832954270 XS3372779697 Rating Rating Agency S&P Global Ratings 1) S&P Global Ratings 2) Moody’s Ratings 1) Rating BBB A-2 Baa2 Outlook Stable - Stable 1) Long-term rating 2) Short-term rating
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28 | © ISS Header Category Head (Noto Sans Bold-12pt,White/Azure) Title (Noto Sans SemiBold-28pt, ISS Navy) Footer Margin Header Footer Margin MarginMargin Forward looking statements This report contains forward-looking statements, including, but not limited to, the statements and expectations contained in Outlook. Statements herein, other than statements of historical fact, regarding future events or prospects, are forward-looking statements. The words ‘‘may’’, “will”, “should”, ‘‘expect’’, ‘‘anticipate’’, ‘‘believe’’, ‘‘estimate’’, ‘‘plan’’, "predict," ‘‘intend’ or variations of these words, as well as other statements regarding matters that are not historical fact or regarding future events or prospects, constitute forward-looking statements. ISS has based these forward-looking statements on its current views with respect to future events and financial performance. These views involve a number of risks and uncertainties, which could cause actual results to differ materially from those predicted in the forward-looking statements and from the past performance of ISS. Although ISS believes that the estimates and projections reflected in the forward-looking statements are reasonable, they may prove materially incorrect, and actual results may materially differ, e.g. as the result of risks related to the facility service industry in general or ISS in particular including those described in the Annual Report 2025 of ISS A/S and other information made available by ISS. As a result, you should not rely on these forward-looking statements. ISS undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law. The Annual Report 2025 of ISS A/S is available at the Group’s website, www.issworld.com.