Interim report
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ISS Interim report for 1 January – 30 June 2026 Continued improvement across all three KPIs in H1 2026 Highlights Financial performance • • . • Company announcement no . 51/2026 Copenhagen , 11 August 2026 On 19 May 2026 , ISS and Deutsche Telekom AG ( DTAG ) announced a settlement agreement and extension of partnership until the end of 2035 . Organic growth was 8.9 % in Q2 2026 ( Q2 2025 : 3.8 % ) , and 8.2 % in H1 2026 ( H1 2025 : 4.1 % ) mainly driven by contract wins , volume growth with existing customers and projects and above - base work . Mobilisation activities for new contracts starting in H1 2026 have been high - and successful - following the commercial momentum in late 2025 and H1 2026. Based on the settlement agreement with DTAG , ISS has reassessed revenue recognised in previous years , resulting in a one - off revenue adjustment with a meaningful impact on H1 2026 organic growth , but an insignificant impact on organic growth for the full year . Operating margin before other items ( excl . IAS 29 ) improved to 4.6 % in H1 2026 ( H1 2025 : 4.2 % ) due to continued robust operational performance across the Group , supported by the settlement with DTAG leading to an underlying annual contractual improvement of 10-15 basis points at Group level . Free cash flow improved to DKK 0.6 billion in H1 2026 ( H1 2025 : DKK ( 0.5 ) billion ) mainly driven by improved operating profit and changes in working capital , partly due to the settlement with DTAG . Business update • • Strategic execution progressed according to plan , with a strengthened commercial focus that enabled ISS to secure three new contracts with revenue above DKK 100 million annually . Our continued strategic focus on extension of customer contracts up for renewal secured a retention rate of 95 % ( LTM ) and extension of 14 large key account contracts ( up until 10 August 2026 ) of which six included significant scope expansions . Three large key account contracts expired and were not renewed . On 1 May 2026 , ISS announced the acquisition of 39.9 % of shares in ISS Türkiye from the minority shareholder Actera . ISS has thereby increased its ownership of ISS Türkiye from 50.1 % to 90.0 % . On 29 June 2026 , ISS acquired Tomagruppen AS with activities in both Norway and Denmark adding an estimated annual revenue of DKK 1.8 billion to Group revenue . Capital distribution and outlook . • • On 6 May 2026 , ISS issued a 5 - year bond with a principal value of EUR 750 million under the Group's EMTN programme , primarily used to repay matured bonds . On 20 July 2026 , Moody's reconfirmed ISS ' credit rating . On 7 August 2026 , ISS concluded the first DKK 1,250 million tranche of its 2026 share buyback programme . The second tranche has been increased by DKK 600 million bringing the total programme to DKK 3.1 billion . The 2026 outlook is unchanged from the upgrade on 19 May 2026 for all three financial KPIs ; organic growth of above 6 % ( previously above 5 % ) , operating margin around 5.25 % ( previously above 5.0 % ) and free cash flow above DKK 3.1 billion ( previously above DKK 2.5 billion ) . Kasper Fangel Group CEO , ISS A / S , says : " Our strong results for the first half of 2026 reflect the continued strength of our operational execution and the dedicated efforts of more than 330,000 colleagues across our global organisation . We delivered improvements in all three of our financial KPI's and increased revenue by DKK 3 billion , compared with the same period last year . I'm also pleased that we reached a forward - looking agreement with Deutsche Telekom and welcomed more than 4,000 new colleagues through our bolt - on acquisition of Norwegian Tomagruppen . Our business progress makes me very excited about the future and the long - term value ISS will continue to create for our customers , employees and shareholders . " Financial overview DKK million ( unless otherwise stated ) Revenue Organic growth , % Operating profit before other items Operating profit before other items , excl . IAS 29 Operating margin ( before other items ) , % Operating margin ( before other items ) , % , excl . IAS 29 Free cash flow Free cash flow , excl . IAS 29 ISS A / S - Interim Report for 1 January - 30 June 2026 Q1 2026 Q2 2026 H1 2026 H1 2025 21,935 7.4 22,767 8.9 44,702 8.2 2,027 41,613 4.1 1,688 2,057 1,736 4.5 4.1 4.6 4.2 568 ( 542 ) 562 ( 558 ) 1 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 ISS A/S – Interim Report for 1 January – 30 June 2026 2 of 37 Key figures and financial ratios Financials H1 2026 H1 2025 2025 (DKKm, unless otherwise stated) Revenue, excl. IAS 29 44,533 41,821 84,703 Revenue 44,702 41,613 84,684 Operating profit before other items, excl. IAS 29 2,057 1,736 4,237 Operating profit before other items 2,027 1,688 4,169 Operating profit 1,912 1,580 3,950 EBITDA before other items 2,817 2,453 5,724 EBITDA 2,762 2,393 5,601 Pro forma adjusted EBITDA, LTM 6,295 5,726 5,779 Finance costs, net (364) (296) (661) Net profit 1,192 995 2,613 Net profit (adjusted) 1,306 1,088 2,820 Cash flow Cash flow from operating activities 1,301 135 3,989 Acquisition of intangible assets, property and equipment, net (307) (309) (651) Free cash flow, excl. IAS 29 562 (558) 2,650 Free cash flow 568 (542) 2,653 Financial position Total assets 49,928 51,084 45,601 Goodwill 21,524 19,930 20,373 Additions to property and equipment and right-of-use assets 623 575 1,198 Equity 9,282 10,395 10,540 Net debt 15,835 14,140 13,227 Shares (Number '000) Shares issued 160,000 174,200 174,200 Treasury shares 3,490 4,991 12,767 Average shares (basic) 157,814 171,192 167,285 Average shares (diluted) 159,000 172,214 168,868 Ratios Financial ratios (%, unless otherwise stated) Organic growth 8.2 4.1 4.3 Acquisitions/divestments, net 0.8 0.9 0.7 Currency adjustments (1.6) (2.7) (3.9) Total revenue growth 7.4 2.3 1.1 Operating margin, excl. IAS 29 4.6 4.2 5.0 Operating margin 4.5 4.1 4.9 Cash conversion 28.0 (32.1) 63.6 Equity ratio 18.6 20.3 23.1 Net debt/Pro forma adjusted EBITDA 2.5x 2.5x 2.3x Share ratios (DKK) Earnings per share (EPS) 7.6 5.9 15.6 Diluted EPS 7.5 5.9 15.4 Non-financials Social data Full-time, % 78 79 78 Number of employees (end of period) 334,267 318,105 326,528 Definitions, see Annual Report 2025, 8.5 Definitions
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 ISS A/S – Interim Report for 1 January – 30 June 2026 3 of 37 Business update In the first six months of 2026, ISS continued the country implementation of the three strategic priorities. The strategic programmes developed according to plan supporting underlying revenue growth. An update of the status of the strategy implementation will be presented on the capital markets day 14 September 2026. Operationally, the business developed as expected in the first six months of 2026 as we continued to successfully manage wage inflation by implementing price increases across the customer base. Mobilisation activities were high following the commercial momentum in the late part of 2025 and successful start-up of contracts in Q4 2025 and Q1 2026. Acquisitions and divestments On 2 February 2026, ISS acquired Cater Plus Services in New Zealand, a cleaning and food service provider adding an estimated annual revenue of around DKK 0.2 billion and more than 750 employees. On 1 May 2026, ISS announced the acquisition of 39.9% of shares in ISS Türkiye from the minority shareholder Actera. ISS has thereby increased its ownership from 50.1% to 90 .0% in ISS Türkiye. Management continues to own the remaining 10.0% of shares. On 29 June 2026, ISS completed the acquisition of Tomagruppen AS, a Norwegian -based facility services company with activities in both Norway and Denmark, the vast majority being in Norway. The bolt-on acquisition has a strong strategic fit and provides significant synergies. The estimated annual revenue i s DKK 1.8 billion with around 4,500 employees. Finally, in the first six months of 2026, ISS divested two minor non -core businesses with total annual revenue of less than DKK 0.2 billion. Geopolitical uncertainties In the first six months of 2026, macroeconomic and geopolitical uncertainties remained high with added uncertainty from the situation in the Middle East. While ISS’ business activities in the region are insignificant in terms of financial impact, the safety of our placemakers, partners and customer sites remain our highest priority. In terms of volatile fuel prices, being a provider of service and given our price adjustment mechanisms in customer contracts, ISS is less exposed compared to many other industries. We continue to monitor the development closely. Deutsche Telekom On 19 May 2026, ISS announced that it had reached a settlement agreement resolving the contractual disagreements with Deutsche Telekom AG (DTAG) referenced in the 2025 Annual Report. The agreement marks a positive resolution of the past dispute between the parties and reflects a shared commitment to moving forward through a strengthened partnership. As part of the renewed collaboration and long -term commitment, the parties agreed to ex tend and amend the existing contract until the end of 2035. As previously communicated, DTAG has withheld certain payments related to services performed by ISS. Following the agreement, DTAG has paid these amounts, and the parties have established clarity on contractual positions, both historically and going forward. Based on the agreement, ISS has reassessed revenue recognised in previous years, resulting in a one -off revenue adjustment with a meaningful i mpact on organic growth in H1 2026 but an insignificant impact on organic growth for the full year 2026. The settlement is expected to lead to underlying annual contractual margin improvement of 10-15 basis points at Group level. Hong Kong As previously disclosed, on 26 November 2025, Wang Fuk Court, a residential estate in Hong Kong, was hit by a devastating fire. ISS continues to express its deepest condolences to the victims of the Wang Fuk Court fire, their families, the people of Hong Kong, and everyone who has been injured or otherwise affected by the terrible incident. ISS, through its subsidiary ISS EastPoint Properties Limited (ISS EPPL), was contracted by the owners’ association of Wang Fuk Court as property manager until 31 December 2025 but was not involved in the major renovation project ongoing at the time of fire. An independent committee, appointed by the Government of the Hong Kong Special Administrative Region of the People’s Republic of China, has initiated a thorough review of the incident and the parties involved, and is expected to deliver its report by Q4 20 26. ISS EPPL is cooperating fully
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 ISS A/S – Interim Report for 1 January – 30 June 2026 4 of 37 with the committee. At this point it is too early to speculate on the outcome of the committee’s findings, but should any responsibility ultimately be attached to ISS EPPL, it is the assessment that appropriate and sufficient insurance cover is in place. We refer to the Annual Report 2025, page 35 for a full description. Share buyback programme 2025 programme On 13 February 2026, ISS completed the share buyback programme launched in 2025 as shares for a total consideration of DKK 3.0 billion had been repurchased. 2026 programme On 7 August 2026, ISS completed the first tranche of the DKK 2.5 billion programme as 4,920,250 shares had been acquired for a total consideration of DKK 1,250 million. On 19 May 2026, ISS announced an increase of the second tranche by DKK 600 million to amount to DKK 1,850 million and taking the total value of the programme to DKK 3.1 billion to complete 22 February 2027 at the latest.
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 ISS A/S – Interim Report for 1 January – 30 June 2026 5 of 37 Group Performance Q2 2026 Revenue Group revenue in Q2 2026 was DKK 22.8 billion, an increase of 10.1% compared with the same period last year. Organic growth was 8.9% (Q2 2025: 3.8%), acquisitions and divestments, net increased revenue by 0.8%, while currency effects were negative with 0.9% and the net impact from hyperinflation restatement in Türkiye (IAS 2 9) w ere positive with 1.3%. Organic growth was driven by price increases implemented across the Group , net new contract wins, volume growth and a one -off revenue adjustment from the settlement with DTAG. Price increases contributed around 4 %-points, of which around half came from Türkiye. Volume growth was driven by a combination of increased activity levels at customer sites and expansion of contracts with existing customers and contributed around 1%-point to organic growth. In the second quarter, the contribution from net new contract wins was around 1 %-point, as a result of contracts won in Central & Southern Europe and Asia & Pacific, partly offset by deliberate contract exits in Americas. Revenue from projects and above- base work accounted for 18% of Group revenue (Q2 2025: 16%) and grew organically by around 20 % mainly as a result of projects related to customers’ refurbishment programmes and other smaller above-base work and one -off revenue adjustment from the settlement with DTAG. All regions contributed to the positive organic growth. Central & Southern Europe showed the highest organic growth, mainly due to price increases in Türkiye , projects and above -base work and one -off revenue adjustment in Germany . In Northern Europe, growth was positively impacted by the start-up of DWP in the UK and Velux in Denmark, both started in Q4 2025, and COWI in Denmark, which started in Q1 2026. Asia & Pacific was mainly supported by robust growth in Australia, India and Singapore. In Americas, growth was positive mainly due to Mexico which reported solid growth offset by Chile, whereas the US was largely flat. Revenue and growth DKK million (unless otherwise stated) Q2 2026 Q2 2025 Organic growth Acq./ div. Currency & other adj. Revenue Growth Northern Europe 8,332 8,002 4% - 0% 4% Central & Southern Europe 8,325 7,144 18% 2% (3)% 17% Asia & Pacific 3,855 3,586 6% 1% 1% 8% Americas 1,939 1,917 1% - 0% 1% Other countries 239 205 15% - 2% 17% Corporate / eliminations (19) (18) - - - - Group, excl. IAS 29 22,671 20,836 8.9% 0.8% (0.9)% 8.8% Group 1) 22,767 20,683 8.9% 0.8% 0.4% 10.1% 1) The net impact from hyperinflation restatement in Türkiye (IAS 29) was 1.3% on Group-level, that has been included in Currency & other adj.
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 ISS A/S – Interim Report for 1 January – 30 June 2026 6 of 37 H1 2026 Revenue Group revenue in the first six months of 2026 was DKK 44.7 billion, an increase of 7.4% compared with the same period last year. Organic growth was 8.2%, acquisitions and divestments, net were positive by 0.8%, whereas currency effects were negative with 2.5% and t he net impact from hyperinflation restatement in Türkiye (IAS 29) w ere positive with 0.9%. Organic growth was 8.2% in the first half of 2026 (H1 2025: 4.1%), primarily driven by price increases and an increased level of projects and above -base work, including the one-off revenue adjustment from the settlement with DTAG , as well as new wins and volume increases from 2025. ISS continued to implement price increases across the Group in line with contractual agreements to mitigate the effects of wage increases and general cost inflation. This had a positive e ffect on organic growth of around 4%-points of which around half related to Türkiye. Volume growth contributed around 1 %-point to organic growth primarily driven by increased activity levels at customer sites, mainly in Americas and Asia & Pacific. Net contract wins were positive by around 1%-point, driven by positive dev elopment in H1 2026 in all regions except Americas due to certain deliberate contract exits during 2025. Projects and above-base work accounted for 17% of Group revenue (H1 2025: 16%) and grew organically by around 15% in H1 2026 . Growth was mainly related to customers’ refurbishment programmes and other above -base work, especially in Northern Europe and Central & Southern Europe, and one-off revenue adjustment from the settlement with DTAG. Key account customers accounted for 70% of Group revenue (H1 2025: 70%). All regions, except Americas who had neutral organic growth, contributed to the positive organic growth. Central & Southern Europe reported the highest organic growth, mainly due to price increases in Türkiye , solid growth in Spain and projects and above -base work and one-off revenue adjustment from the settlement with DTAG . Asia & Pacific was mainly supported by solid growth in Australia, India and Singapore. In Northern Europe, growth was positively impacted by the start -up of DWP in the UK and Velux in Denmark, both started in Q4 2025, and COWI in Denmark, which started in Q1 2026. Revenue and growth DKK million (unless otherwise stated) H1 2026 H1 2025 Organic growth Acq./ div. Currency & other adj. Revenue Growth Northern Europe 16,729 15,852 6% - (0)% 6% Central & Southern Europe 16,017 14,377 14% 2% (5)% 11% Asia & Pacific 7,550 7,267 6% 1% (3)% 4% Americas 3,820 3,973 (0)% - (4)% (4)% Other countries 448 392 14% - 0% 14% Corporate / eliminations (31) (40) - - - - Group, excl. IAS 29 44,533 41,821 8.2% 0.8% (2.5)% 6.5% Group 1) 44,702 41,613 8.2% 0.8% (1.6)% 7.4% 1) The net impact from hyperinflation restatement in Türkiye (IAS 29) was 0.9% on Group-level, that has been included in Currency & other adj .
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 ISS A/S – Interim Report for 1 January – 30 June 2026 7 of 37 Operating results Operating profit before other items was DKK 2,027 million (H1 202 5: DKK 1, 688 million) and operating margin was 4.5 % (H1 202 5: 4.1%). E xcluding the effect from IAS 29 (Türkiye hyperinflation) operating profit before other items amounted to DKK 2,057 million (H1 2025: DKK 1, 736 million) corresponding to an operating margin of 4.6% (H1 2025: 4.2%). The increase in operating margin in the first half of 2026 was mainly a result of continued operational improvements and efficiencies realised across the Group and further supported by the impact from the one-off revenue adjustment from the settlement with DTAG. The margin increase related to the latter is expected to be reduced in the second half of 2026 due to commitments to invest further in the contract and partnership with DTAG while still leading to an underlying annual contractual margin improvement of 10-15 basis points at Group level. In the UK, operational and financial improvements continued in the first half of 202 6, and thus contributed to the Group’s margin enhancement. From a regional perspective, the m argin enhancement was supported by Central & Southern Europe, driven by generally robust developments, most significantly in Spain, Austria and Germany and supported by a one-off impact from the settlement with DTAG. In Northern Europe, margin increased as a result of o perational improvements in general offset by increased transition cost . In Asia & Pacific , margin decreased slightly as H1 2026 had costs related to legal fees in Hong Kong, whereas the rest of the business developed according to expectations. The margin in Americas was negatively impacted by specific commercial investments and by the exit of certain contracts in Chile, leading to increased one-off costs. Corporate costs amounted to DKK 464 million (H1 2025: DKK 460 million) corresponding to 1.0 % of Group revenue (H1 2025: 1.1%). The slight decrease relative to revenue reflected operating scale benefits and efficiencies achieved as a result of the Group’s strategic initiatives. Finance income and costs, net was DKK 364 million (H1 2025 : DKK 2 96 million) including a monetary gain of DKK 5 3 million relating to hyperinflation restatement in Türkiye (IAS 29). Excluding the impact from IAS 29, finan ce costs was, net of DKK 417 million (H1 2025: DKK 351 million). The increase was largely due to increased interest expenses on borrowings stemming from increased interest rates compared to H1 2025 and a higher absolute debt level. The effective tax rate in H1 2026 was 23.0% (H1 2025: 2 2.5%) and 21.9% (H1 2025: 21. 6%) when excluding for the impact of IAS 29. The effective tax rate was negatively impacted by higher-than- expected income in certain countries , and the impact from hyperinflation adjustments in Türkiye impacted negatively. Net profit was DKK 1,192 million (H1 2025: DKK 995 million). Operating profit before other items (DKKm) H1 2026 H1 2025 Northern Europe 814 4.9% 774 4.9% Central & Southern Europe 1,153 7.2% 802 5.6% Asia & Pacific 478 6.3% 484 6.7% Americas 53 1.4% 111 2.8% Other countries 23 5.1% 25 6.4% Corporate / eliminations (464) - (460) - Group, excl. IAS 29 2,057 4.6% 1,736 4.2% Group 2,027 4.5% 1,688 4.1%
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 ISS A/S – Interim Report for 1 January – 30 June 2026 8 of 37 Commercial development The customer-centric growth initiative accelerated in 2025, and momentum continued in the first six months of 2026, driven by a strengthened commercial culture and a continued focus on targeting selected segments with tailored offerings designed to meet specific customer needs. The positive commercial trend continued in the first six months of 2026, evidenced by ISS securing new contracts as well as extending and expanding several existing partnerships. In the first six months of 2026 , ISS secured three new contracts with large key account customers in the UK . Furthermore, we extended 1 4 large key account contracts (up until 10 August 2026), of which six included significant scope expansions . Consequently, the customer retention rate was maintained at 95% (LTM) in the quarter. The commercial pipeline for integrated facility services solutions remains attractive and is mainly driven by local and regional opportunities. Three large key account contract s expired in H1 2026 (up until 10 August 2026) and was not renewed as previously communicated. January - June 2026 Major key account developments 1) Countries Segment Term Wins Bank of England UK Financial services 4 years Q2 2026 West Sussex County Council UK Education 7 years Q3 2026 Public administration Customer UK Public Administration 5 years Q4 2026 Extensions Transportation Customer Switzerland Transportation & Infrastructure 6 years Q1 2026 Nestlé Australia Food and Beverage 2 years Q2 2026 Retail Customer Norway Retail and Wholesale 2 years Q2 2026 Public administration Customer Sweden Public Administration 4 years Q3 2026 Healthcare Customer Asia Healthcare 3 years Q3 2026 The Danish Building and Property Agency Denmark Public Administration 5 years Q4 2026 Manufacturing Customer Europe Industry and Manufactoring 3 years Q1 2027 Technology Customer Global Business Services & IT 2 years Q3 2027 Extensions, including expansions Virgin Media O2 UK Information and Communication 2 years Q1 2026 Life Sciences & Pharmaceutical Customer Switzerland Healthcare 3 years Q2 2026 Fulham Road Collaborative UK Healthcare 5 years Q2 2026 Defence Organisation Northern Europe Public Administration 5+5 years Q3 2026 Healthcare Customer Central & Southern Europe Healthcare 2 years Q3 2026 Technology Customer Global Technology Customer 5 years Q4 2026 Losses Information and Communications Customer UK Business Services & IT - Q1 2026 Healthcare Customer UK Healthcare - Q3 2026 Healthcare Customer Australia Healthcare - Q4 2026 1) Annual revenue above DKK 100 million. Service Commencement
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 ISS A/S – Interim Report for 1 January – 30 June 2026 9 of 37 Free cash flow Free cash flow in H1 202 6 was DKK 568 million (H1 2025: DKK ( 542) million), a n improvement of DKK 1,110 million compared with the same period last year mainly due to increased operating profit before other items and an improvement in changes in working capital , partly as a result of amounts previously withheld by DTAG being paid following the settlement agreement. Cash flow from operating activities in H1 202 6 amounted to DKK 1,301 million (H1 202 5: DKK 135 million), a n improvement of DKK 1,166 million compared with H1 202 5 due to the increase in operating profit before other items and less negative changes in working capital. Changes in working capital in H1 2026 was an outflow of DKK 677 million (H1 2025: outflow of DKK 1,578 million). In line with normal seasonality, changes in working capital were negative in the first six months of the year. However, as a result of strong collection efforts across the Group as well as payment of previously withheld amounts following the settlement with DTAG , the outflow was lower compared with the same period last year. Utilisation of factoring amounted to DKK 1.59 billion (H1 2025: DKK 1.52 billion), which was at the same level as year-end 2025. Cash flow from investing activities in H1 202 6 amounted to DKK ( 780) million (H1 2025 : DKK (515) million). Acquisition of businesses amounted to DKK 421 million and related mainly to the acquisition of Tomagruppen AS in Norway and Cater Plus Services in New Zealand. Investments in intangible assets and property and equipment, net, was DKK 307 million (H1 2025: DKK 309 million), which represented 0.7% of Group revenue (H1 2025 : 0.7 %) and reflected continued strict investment discipline. Cash flow from financing activities in H1 2026 was an inflow of DKK 388 million (H1 20 25: DKK 1 ,176 million). Proceeds from the issued 5 -year EMTN bond with a principal value of EUR 750 million was DKK 5,524 million. The amount was primarily used to repay matured bonds of DKK 3,737 million. Proceeds from th e Euro -Commercial Paper (ECP) programme established in May 2025 amounted to DKK 1,879 million. Dividends paid to shareholders amounted to DKK 507 million (H1 2025: DKK 534 million). Transactions with non- controlling interests was an outflow of DKK 627 million reflecting the acqui sition of 39.9% of the shares in ISS Türkiye from the previous owner Actera. Purchase of own shares was an outflow of DKK 1,385 million (H1 2025 : DKK 1,254 million) and related to the Group’s share buyback programme. Capital structure In line with ISS’s capital allocation policy, our first priority is to maintain an investment grade rating as it is important from both a financial and commercial perspective. To adhere to the investment grade rating, ISS targets a net debt to pro -forma adjusted EBITDA (LTM) of 2.0x-2.5x. ISS currently holds BBB / Stable outlook by S&P Global and Baa2 / Stable outlook by Moody’s. On 30 June 2026, net debt amounted to DKK 15.8 billion, an increase of DKK 2.6 billion compared with 31 December 2025. The increase was driven by , acquisitions and transactions with non -controlling interests, dividends paid to shareholders and execution of the share buyback programme , partly offset by positive free cash flow in H1 2026 . Despite EBITDA growth, the higher net debt resulted in an increase in financial leverage to 2.5x at 30 June 2026 based on pro forma EBITDA (LTM ) compared with 2.3x at year -end 202 5. The increased leverage at half-year reflects normal seasonality , in line with leverage of 2.5x at 30 June 2025. On 6 May 2026, ISS issued a 5- year bond with a principal amount of EUR 750 million and a coupon of 3.50%. The bond was issued under the Group’s EUR 3 billion European Medium Term Note (EMTN) programme, which is listed on the Luxembourg Stock Exchange. The net proceeds were used for repayment of the Group's EUR 500 million EMTNs maturing in June 2026 as well as for general corporate purposes. An additional EUR 600 million of EMTN bonds will mature in August 2027. Over the next 12 months, the Group will evaluate different financing options. Except for this, and notes outstanding under the ECP programme, ISS ha d no material short -term debt maturities at 30 June 2026.
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 ISS A/S – Interim Report for 1 January – 30 June 2026 10 of 37 Equity At 30 June 202 6, equity was DKK 9,282 million (31 December 2025: DKK 10,540 million), equivalent to an equity ratio of 18.6% (31 December 2025: 23.1%). The decrease in equity from year -end 2025 was mainly a result of purchase of own shares of DKK 1,385 million, dividends paid to shareholders of DKK 507 million and transactions with non -controlling interests DKK 980 million, partly offset by n et profit of DKK 1,192 million. Foreign currency adjustments were positive DKK 155 million and hyperinflation (IAS 29) restatement of equity in Türkiye as of 1 January 2026 was DKK 245 million (1 January 2025: DKK 193 million). On 1 6 April 202 6, the Annual General Meeting adopted the Board of Directors’ proposal to reduce the Company’s share capital from 174, 200,000 to 160,000,000 shares. The reduction was implemented on 18 May 2026 by way of cancellation of 14,200,000 own shares with an average price of DKK 191.17 and amounting to a total value of DKK 2,715 million. Events after the reporting period No events have occurred subsequent to 30 June 2026, which are expected to have a material impact on the Group's financial position.
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 ISS A/S – Interim Report for 1 January – 30 June 2026 11 of 37 Regional Performance Northern Europe Q2 2026 Revenue amounted to DKK 8,332 million, which was an increase of 4% compared with the same period last year. Organic growth was 4% (Q2 2025: 1%), currency effects were net neutral , and t he effect from acquisitions and divestments, net, was neutral. Organic growth was driven by price increases implemented across the region and project and above-base work, partly offset by slightly negative volume growth and slightly net negative contract wins. As a consequence, portfolio revenue grew organically by 2% and projects and above-base work both grew organically by 14 %. The increase in organic growth compared with Q2 2025 was largely broad based, though most notably in the UK and Denmark due to the contracts with DWP, COWI and Velux. H1 2026 Revenue amounted to DKK 16,729 million in the first six months of 202 6, which was an increase of 6% compared with the same period last year. Organic growth was 6% (H1 2025: 2%), currency effects and acquisitions and divestments net was neutral. Organic growth was primarily driven by the start -up of DWP in the UK in Q4 2025. In addition, the start- up of new contracts in Denmark, including COWI and Velux, supported the organic growth. Lastly price increases implemented across the region and projects and above -base work impacted organic growth positively. Organic growth in the region was broad-based, though most notably in the UK and Denmark due to the contracts with DWP, COWI and Velux. Portfolio revenue grew organically by around 3% and revenue from projects and above-base work grew by around 18% organically. Operating profit before other items amounted to DKK 814 million in H1 202 6 (H1 2025: DKK 774 million) corresponding to an operating margin of 4.9% (H1 2025 : 4.9%). During the first half of the year, operational improvements and efficiencies drove broad-based margin improvement s across the region, offset by increased transition costs due to the high level of ongoing contract start-ups. In the UK, operating margin continued to improve in line with expectations. Central & Southern Europe Q2 2026 Revenue amounted to DKK 8,325 million, which was an increase of 17% compared with the same period last year. O rganic growth was 18% (Q2 2025 : 9%), acquisitions and divestments net increased revenue by 2%, while currency effects were negative with 3 % and the net impact from hyperinflation restatement in Türkiye (IAS 29) were positive with around 3%. Organic growth was predominately driven by implemented price increases in Türkiye, projects and above-base work, a robust development across the region and lastly by the one-off revenue adjustment from the settlement with DTAG . Portfolio revenue grew 14% organically, while organic growth from projects and above-base work was 36%. H1 2026 Revenue amounted to DKK 16,017 million in the first six months of 202 6, which was an incre ase of 11% compared with the same period last year. Organic growth was 14 % (H1 2025 : 9%). Acquisitions and divestments, net in Spain and Austria increased revenue by 2%. Currency effects and the net impact from hyperinflation restatement in Türkiye (IAS 29) was negative with 5% and 3%, respectively. Organic growth was primarily driven by Türkiye where price increases were successfully passed on to customers to offset the high level of wage inflation, projects and above -base work, a robust development across the region and lastly by the one-off revenue adjustment from the settlement with DTAG. Portfolio revenue grew by around 13% organically, and revenue from projects and above- base work showed organic growth of 22% driven by increased demand for refurbishment projects , projects and above -base work, and by the one-off revenue adjustment from the settlement with DTAG. Operating profit before other items excluding IAS 29 amounted to DKK 1,153 million in H1 2026 (H1 2025:
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 ISS A/S – Interim Report for 1 January – 30 June 2026 12 of 37 DKK 802 million) corresponding to an operating margin of 7.2 % (H1 2025 : 5.6%). The margin enhancement was driven by generally robust development across the region and supported by the one-off impact from the settlement with DTAG. The margin increase related to the latter is expected to be reduced in the second half of 2026 due to commitments to invest further in the contract and partnership with DTAG while still leading to an underlying annual contractual margin improvement of 10 -15 basis points at Group level. Including the effect of IAS 29, operatin g profit before other items amounted to DKK 1,123 million, corresponding to an operating margin of 6.9% (H1 2025 : 5.3%). Asia & Pacific Q2 2026 Revenue amounted to DKK 3,855 million, which was an increase of 8 % compared with the same period last year. Organic growth w as 6% (Q2 2025: 8%), whi le acquisitions and divestments and currency effects increased revenue by 1 %, respectively. Organic growth was driven by net contract wins, price increases implemented across the region and volume growth from higher activity levels at customer sites partly offset by slight negative organic growth f rom projects and above - base work. H1 2026 Revenue amounted to DKK 7,550 million in the first six months of 2026 , which was an increase of 4% compared with the same period last year. Organic growth was 6% (H1 2025 : 6%). Th e effect from acquisitions and divestments, net increased revenue by 1% , and currency effects impacted revenue negatively by 3%. Organic growth was driven by price increases , net contract wins and volume growth from higher activity levels at customer sites partly offset by slight negative organic growth from projects and above - base work. As a result , portfolio revenue grew organically by 7 %, whereas r evenue from projects and above-base work showed negative growth of 4% organically. All countries except Hong Kong reported robust organic growth. Operating profit before other items amounted to DKK 478 million in H1 202 6 (H1 202 5: DKK 484 million) corresponding to an operating margin of 6.3% (H1 2025 : 6.7%). The development reflected operational improvements and efficiencies being executed across the region , partly offset by legal fees in Hong Kong related to the public hearing related to the devastating fire in Wang Fuk Court end of 2025. Americas Q2 2026 Revenue amounted to DKK 1,939 million, which was an increase of 1% compared with the sam e period last year. O rganic growth was 1% (Q2 2025 : negative 10%). The effect from acquisitions and dive stments, and currency effects were both net neutral . The positive organic growth was primarily driven by net price increases, growth from projects and above -base work partly offset by contract exits in Chile in 2025 leading to slightly positive organic growth from portfolio revenue. Revenue from projects and above-base work, grew 10% organically. H1 2026 Revenue amounted to DKK 3,820 million in the first six months of 202 6, which was a decrease of 4% compared with the same period last year. Organic growth was net neutral (H1 2025: negative 9%). The effect from acquisitions and divestments, net was neutral, while currency effects impacted revenue negatively by 4%. The neutral organic growth was primarily driven by net price increases, positive volume growth with existing customers, offset by contract exits primarily in Chile in 2025 having full effect in the period as well as volume reductions with existing customers. As a result, portfolio revenue increased by 1% organically. Operating profit before other items amounted to DKK 53 million in H1 2026 (H1 2025: DKK 111 million) corresponding to an operating margin of 1.4% (H1 2025: 2.8%). The margin in Americas was negatively impacted by specific commercial investments and by the exit of certain contracts in Chile, leading to increased one-off costs.
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 ISS A/S – Interim Report for 1 January – 30 June 2026 13 of 37 Outlook Outlook 2026 This section should be read in conjunction with “Forward-looking statements” as shown in the table on next page. In H1 2026, organic growth developed better than expected, driven by contract wins and volume growth, price increases , projects and above -base work and the one -off revenue adjustment from the settlement with Deutsche Telekom (DTAG) . Operating margin and free cash flow also developed ahead of expectations , leading ISS to update its guidance on 19 May 2026. The 2026 outlook announced on that date is confirmed for all three financial KPIs. The outlook assumes that macroeconomic and geopolitical uncertainties remain elevated, at the same time making ISS’ business model more relevant than ever. The execution of the OneISS strategy through our updated strategic priorities continues and will sup port the commercial growth agenda, enable further cost efficiencies and ensure continued high focus on driving shareholder value. The outlook is excluding any effects of hyperinflation (IAS 29). Organic growth is expected to be above 6% for 2026 (2025: 4.3%). Growth will be driven by price increases across the Group to offset cost inflation and protect operating margins. In addition, positive volume growth from increasing activity levels at customer sites and contract expansions is expected, as well as a positive contribution from net contract wins. The impact from projects and above -base work is expected to be positive. Operating margin is expected to be around 5.25% (2025: 5.0%). Across the Group, we expect to see further operational improvements and efficiencies, including scale benefits and a benefit from the settlement with DTAG . The DTAG settlement is leading to an annual contractual margin improvement of 10 -15 basis points at Group level. Our focus is on increasing nominal operating profit before other items and thereby driving increased shareholder value. Free cash flow is expected to be DKK 3.1 billion as amounts previously withheld by DTAG have been paid. The expectation continues to be based on an underlying free cash flow of above DKK 2.7 billion, equalling a cash conversion of above 60%. However, adjusted for DKK 0.2 billion in prepayments for receivables paid in 2025 before due date in 2026 and the payment by DTAG of previously withheld amounts, the reported free cash flow is expected to be above DKK 3.1 billion for 2026. Expected revenue impact from acquisitions, divestments and foreign exchange rates in 2026 Acquisitions and divestments completed by 3 1 July 2026 (including in 202 5) are expected to have a positive impact on revenue growth in 2025 of 1.5 %- points (previously positive around 0.5%-point). Based on the current exchange rates, a negative impact on revenue growth of around 1% -point 1) (previously negative around 1.5%-point) is expected in 2026 from the development of foreign exchange rates, excluding any effects of hyperinflation (IAS 29). 1) The forecasted average exchange rates for the financial year 2026 are calculated using the actual average exchange rates for the first seven months of 2026 and the average forward exchange rates (as of 10 August 2026) for the remaining five months of 2026. Financial targets At the Capital Markets Day in November 2022, new financial targets were announced for organic growth, operating margin and cash conversion. From 2024 and beyond, ISS targets to deliver strong growth at attractive and sustainable margins: • Organic growth of 4 – 6% • Operating margin above 5% • Cash conversion above 60% An update on financial targets will be presented at the upcoming Capital Markets Day 14 September 2026. Outlook 2026 Annual report 2025 Company Ann. 19 May 2026 Interim report H1 2026 Organic growth Above 5% Above 6% Above 6% Operating margin1) Above 5% Around 5.25% Around 5.25% Free cash flow Above DKK 2.5 bn2) Above DKK 3.1 bn3) Above DKK 3.1 bn3) 1) Based on operating profit before other items 2) Underlying free cash flow: Above DKK 2.7 billion 3) Underlying free cash flow: Above DKK 3.3 billion
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 ISS A/S – Interim Report for 1 January – 30 June 2026 14 of 37 Forward-looking statements . This report contains forward -looking statements, including, but not limited to, the guidance and expectations provided in Outlook. Statements herein, other than statements of historical fact, regarding future events or prospects, are forward - looking statem ents. The words may, will, should, expect, anticipate, believe, estimate, plan, predict, intend or variations of such words, and other statements on matters that are not historical fact or regarding future events or prospects, are forward - looking statements. ISS has based these statements on its current views with respect to future events and financial performance. These views involve risks and uncertainties that may 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. Actual results may differ materially. For example, as a result of risks related to the facility service industry in general or to ISS in particular, including those described in this report 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 for 2025 is available at the Group’s website, www.issworld.com.
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 ISS A/S – Interim Report for 1 January – 30 June 2026 15 of 37 Management statement Copenhagen, 11 August 2026 The Board of Directors and the Executive Group Management Board have today discussed and approved the interim report of ISS A/S for the period 1 January – 30 June 2026. The condensed consolidated interim financial statements have been prepared in accordance with IAS 34 “Interim Financial Reporting” as adopted by the EU and additional requirements of the Danish Financial Statements Act. The interim report has not been reviewed or audited. In our opinion, the condensed consolidated interim financial statements give a true and fair view of the Group's assets, liabilities and financial position at 30 June 2026 and of the results of the Group's operations and consolidated cash flows for the financial period 1 January – 30 June 2026. In our opinion, the Management review includes a fair review of the development in the Group’s operations and financial conditions, the results for the period, cash flows and financial position as well as a description of the most significant risks and uncertainty factors that the Group faces. Executive Group Management Board Kasper Fangel Mads Holm Group CEO Group CFO Board of Directors Niels Smedegaard Jens Bjørn Andersen Chair Deputy Chair Kelly Kuhn Henrik Lind Lars Petersson Reshma Ramachandran Ben Stevens Henriette Hallberg Thygesen Signe Adamsen (E) Rune Christensen (E) Tove Møller Eriksen (E) E = Employee representative
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 Primary financial statements Statement of profit or loss 17 Statement of comprehensive income 18 Statement of cash flows 19 Statement of financial position 20 Statement of changes in equity 21 Basis of preparation 1 Basis of preparation 22 2 Significant estimates and judgements 23 Statement of profit or loss 3 Operating and reportable segments 24 4 Disaggregation of revenue 25 5 Share-based payments 26 6 Other income and expenses, net 27 7 Finance income and costs 27 Statement of cash flows 8 Changes in working capital 28 9 Acquisitions 28 10 Free cash flow 29 Statement of financial position 11 Impairment tests 30 12 Other receivables 30 13 Equity 31 14 Non-controlling interests 31 15 Borrowings 32 16 Pensions and similar obligations 32 17 Provisions 32 18 Other liabilities 33 19 Contingent liabilities 33 Other 20 Hyperinflation in Türkiye 34 21 Subsequent events 35 Condensedconsolidated interim financial statements ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 16 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 Statement of profit or loss 1 January – 30 June (DKKm) Note YTD 2026 YTD 2025 Revenue 3, 4, 20 44,702 41,613 Employee costs 3, 5 (29,000) (27,226) Consumables (3,641) (3,460) Other operating expenses (9,244) (8,474) Depreciation and amortisation 3 (790) (765) Operating profit before other items 20 2,027 1,688 Other income and expenses, net 6 (55) (60) Amortisation/impairment of customer contracts (60) (48) Operating profit 3, 20 1,912 1,580 Finance income 7 135 149 Finance costs 7 (499) (445) Profit before tax 1,548 1,284 Income tax (356) (289) Net profit 20 1,192 995 Attributable to: Owners of ISS A/S 1,200 1,016 Non-controlling interests (8) (21) Net profit 1,192 995 Earnings per share, DKK Basic earnings per share (EPS) 7.6 5.9 Diluted earnings per share 7.5 5.9 ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 17 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 1 January – 30 June (DKKm) Note YTD 2026 YTD 2025 Net profit 1,192 995 Items that will not be reclassified to profit or loss: Defined benefit plans: Remeasurement gain/(loss) 16 367 251 Asset ceiling 16 (399) (183) Tax 6 (25) Items that may be reclassified to profit or loss: FX adjustments of foreign entities 155 (1,009) Hyperinflation restatement of equity at 1 January 20 245 193 Other comprehensive income 374 (773) Comprehensive income 1,566 222 Attributable to: Owners of ISS A/S 1,525 291 Non-controlling interests 41 (69) Comprehensive income 1,566 222 Statement of comprehensive income ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 18 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 Statement of cash flows 1 January – 30 June (DKKm) Note YTD 2026 YTD 2025 Operating profit before other items 2,027 1,688 Depreciation and amortisation 790 765 Non-cash items related to hyperinflation (17) (13) Share-based payments 48 48 Changes in working capital 8 (677) (1,578) Changes in provisions, pensions and similar obligations (4) (102) Other expenses paid (41) (23) Interest received 41 97 Interest paid (395) (395) Income tax paid (471) (352) Cash flow from operating activities 20 1,301 135 Acquisitions 9 (421) (6) Divestments (59) (19) Acquisition of intangible assets, property and equipment (321) (315) Disposal of intangible assets, property and equipment 14 6 Changes in cash deposits and pledges - (187) Changes in financial assets 7 6 Cash flow from investing activities 20 (780) (515) Proceeds from issued bonds 15 5,524 - Proceeds from Euro-Commercial Paper (ECP) programme, net 1,879 3,474 Repayment of bonds 15 (3,737) - Repayment of lease liabilities (453) (440) Other financial payments, net (306) (70) Dividends paid to shareholders (507) (534) Transactions with non-controlling interests 14 (627) - Purchase of treasury shares (1,385) (1,254) Cash flow from financing activities 20 388 1,176 Total cash flow 909 796 Cash and cash equivalents at 1 January 1,729 6,829 Total cash flow 909 796 Foreign exchange adjustments 9 (220) Cash and cash equivalents at 30 June 2,647 7,405 Free cash flow 10, 20 568 (542) ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 19 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 Statement of financial position 30 June 30 June 31 December (DKKm) Note 2026 2025 2025 Assets Goodwill 11, 20 21,524 19,930 20,373 Other intangible assets 11, 20 4,123 3,737 3,835 Right-of-use assets 11, 20 2,259 2,306 2,229 Property and equipment 11, 20 1,138 996 1,120 Deferred tax assets 891 806 822 Cash deposits and pledges 187 187 187 Financial assets 449 584 451 Non-current assets 30,571 28,546 29,017 Inventories 277 243 245 Trade receivables 13,839 12,885 12,872 Tax receivables 151 95 115 Other receivables 12 2,443 1,910 1,623 Cash and cash equivalents 2,647 7,405 1,729 Current assets 19,357 22,538 16,584 Total assets 49,928 51,084 45,601 Equity and liability Equity attributable to owners of ISS A/S 9,071 9,694 9,776 Non-controlling interests 14 211 701 764 Total equity 13, 20 9,282 10,395 10,540 Borrowings 15 15,311 9,832 9,762 Pensions and similar obligations 16 1,118 1,167 1,104 Deferred tax liabilities 20 1,209 1,095 1,143 Provisions 17 388 317 311 Non-current liabilities 18,026 12,411 12,320 Borrowings 15 3,321 11,915 5,315 Trade and other payables 7,073 6,494 6,955 Tax payables 386 357 429 Other liabilities 18 11,518 9,314 9,735 Provisions 17 322 198 307 Current liabilities 22,620 28,278 22,741 Total liabilities 40,646 40,689 35,061 Total equity and liabilities 49,928 51,084 45,601 ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 20 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 Statement of changes in equity 1 January – 30 June (DKKm) Note Share capital Treasury shares Retained earnings Trans- lation reserve Total Non-con- trolling interests Total equity 2026 Equity at 1 January 174 (2,373) 13,670 (1,695) 9,776 764 10,540 Net profit - - 1,200 - 1,200 (8) 1,192 Other comprehensive income - - (26) 351 325 49 374 Comprehensive income - - 1,174 351 1,525 41 1,566 Dividends - - (507) - (507) - (507) Share-based payments 5 - - 48 - 48 - 48 Settlement of vested PSUs/RSUs - 190 (190) - - - - Purchase of treasury shares - (1,385) - - (1,385) - (1,385) Cancellation of own shares 13 (14) 2,715 (2,701) - - - - Transactions with non-controlling interests 14 - - (869) 483 (386) (594) (980) ? Transactions with owners (14) 1,520 (4,219) 483 (2,230) (594) (2,824) Changes in equity (14) 1,520 (3,045) 834 (705) (553) (1,258) Equity at 30 June 160 (853) 10,625 (861) 9,071 211 9,282 2025 Equity at 1 January 185 (1,204) 13,133 (971) 11,143 770 11,913 Net profit - - 1,016 - 1,016 (21) 995 Other comprehensive income - - 57 (782) (725) (48) (773) Comprehensive income - - 1,073 (782) 291 (69) 222 Dividends - - (534) - (534) - (534) Share-based payments - - 48 - 48 - 48 Settlement of vested PSUs/RSUs - 128 (128) - - - - Purchase of treasury shares - (1,254) - - (1,254) - (1,254) Cancellation of own shares (11) 1,513 (1,502) - - - - Transactions with owners (11) 387 (2,116) - (1,740) - (1,740) Changes in equity (11) 387 (1,043) (782) (1,449) (69) (1,518) Equity at 30 June 174 (817) 12,090 (1,753) 9,694 701 10,395 Attributable to owners of ISS A/S ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 21 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 1 Basis of preparation IFRS 18: Presentation and Disclosure in Financial statements - - - - Certain bank and commitment fees, mainly related to undrawn or revolving credit facilities (operating category) - Interest income and expenses from factoring or trade receivables/payables (operating category) ISS will finalise the analyses during the second half of 2026 and expects to disclose the impact of IFRS 18 in the notes to the 2026 Annual Report. Interest income and foreign exchange adjustments on cash and cash equivalents and securities (investing category) Gains and losses on currency swaps as ISS hedges the Group’s net currency positions and IFRS 18 does not permit grossing up Foreign exchange gains and losses on intercompany balances eliminated on consolidation (operating category) The condensed consolidated interim financial statements of ISS A/S for the period 1 January - 30 June 2026 comprise ISS A/S and its subsidiaries (collectively, the Group) and have been prepared in accordance with IAS 34 "Interim Financial Reporting" as adopted by the EU and additional requirements of the Danish Financial Statements Act. The report does not include all the information and note disclosures required in the annual consolidated financial statements, and should be read in conjunction with the Group’s consolidated financial statements as at 31 December 2025. The accounting policies applied are consistent with those applied in the preparation of the Group’s consolidated financial statements for the year ended 31 December 2025, except for the adoption of a number of new and amended standards, which became applicable for the current reporting period. None of these amendments have had a material impact on the Group's financial statements, including notes. From 1 January 2027, IFRS 18 will replace IAS 1, introducing new requirements in reporting, that will increase comparability of financial performance between similar entities and provide more relevant information and transparency to users. ISS continues to analyse the implications of IFRS 18. Based on the analyses performed to date, the most significant impacts are expected to arise from the narrower definition of the financing category. As a result, certain items previously presented as finance income or expenses are expected to be reclassified to either the operating or investing category, primarily: New regulation not yet mandatory IASB issued amended standards and interpretations, which are not yet mandatory for the condensed consolidated interim financial statements. Based on the current business setup and level of activities, except for IFRS 18, none of these standards and interpretations are expected to have a material impact on the presentation, recognition and measurement in the condensed consolidated interim financial statements. IFRS 18 does not change the recognition or measurement of items in the financial statements but affects the presentation of certain items. For the statement of profit or loss, the standard introduces three defined categories: operating, investing and financing, and requires specific subtotals, including operating profit. IFRS 18 also introduces disclosure requirements for management-defined performance measures (MPMs), including explanations of their relevance and reconciliations to IFRS-defined measures. the effect between the operating and financing categories based on the underlying items (operating category) ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 22 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 2 Significant estimates and judgements Except for the judgements and estimates commented upon in the notes of these condensed consolidated interim financial statements, the significant judgements made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those that applied to the consolidated financial statements as at and for the year ended 31 December 2025, cf. Significant estimates and judgements on p. 115 in the consolidated financial statements for 2025. The preparation of condensed consolidated interim financial statements required management to make judgements, estimates and assumptions that affected the application of policies and reported amounts of assets and liabilities, income and expenses as well as the accompanying disclosures. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities in future periods. ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 23 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 3 Operating and reportable segments (DKKm) Northern Europe Central & Southern Europe Asia & Pacific Americas Other countries Total segments Unall./ IC elim Group YTD 2026 Revenue, excl. IAS 29 16,729 16,017 7,550 3,820 448 44,564 (31) 44,533 Revenue 16,729 16,186 7,550 3,820 448 44,733 (31) 44,702 Employee costs (9,727) (11,017) (5,379) (2,221) (101) (28,445) (555) (29,000) Depreciation and amortisation(314) (284) (71) (40) (1) (710) (80) (790) Operating profit before other items, excl. IAS 29 814 1,153 478 53 23 2,521 (464) 2,057 Operating profit before other items 814 1,123 478 53 23 2,491 (464) 2,027 Operating profit 794 1,038 478 35 23 2,368 (456) 1,912 YTD 2025 Revenue, excl. IAS 29 15,852 14,377 7,267 3,973 392 41,861 (40) 41,821 Revenue 15,852 14,169 7,267 3,973 392 41,653 (40) 41,613 Employee costs (9,416) (9,777) (5,124) (2,265) (87) (26,669) (557) (27,226) Depreciation and amortisation(293) (270) (69) (49) (2) (683) (82) (765) Operating profit before other items, excl. IAS 29 774 802 484 111 25 2,196 (460) 1,736 Operating profit before other items 774 754 484 111 25 2,148 (460) 1,688 Operating profit 756 706 484 94 25 2,065 (485) 1,580 ISS is a leading, global provider of workplace and facility service solutions operating in 57 countries. The Group’s operations and business performance are generally managed based on a geographical structure. Countries are grouped into four regions, which represent the Group’s reportable segments. The regions have been identified based on a key principle of grouping countries that share market conditions and cultures. Countries where we do not have a full country-based support structure (global managed services) are combined in a separate segment “Other countries”. ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 24 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 4 Disaggregation of revenue (DKKm) Northern Europe Central & Southern Europe Asia & Pacific Americas Other countries Unall./ IC elim. Total YTD 2026 Revenue base Portfolio 13,212 13,283 6,904 3,463 338 (28) 37,172 Projects and above-base work3,517 2,903 646 357 110 (3) 7,530 Total 16,729 16,186 7,550 3,820 448 (31) 44,702 Customer category Key accounts 12,316 10,342 5,576 2,763 443 (29) 31,411 Large and medium 3,292 4,874 1,602 1,051 - (1) 10,818 Small and route-based 1,121 970 372 6 5 (1) 2,473 Total 16,729 16,186 7,550 3,820 448 (31) 44,702 Customer segments Office-based 7,660 6,588 2,374 1,844 219 (25) 18,660 Production-based 3,309 3,154 1,474 891 218 (6) 9,040 Healthcare 2,373 2,846 1,810 48 - - 7,077 Other 3,387 3,598 1,892 1,037 11 - 9,925 Total 16,729 16,186 7,550 3,820 448 (31) 44,702 Core services Cleaning 6,572 7,797 3,510 1,031 48 (4) 18,954 Technical 4,397 4,794 662 740 112 - 10,705 Food 2,891 1,309 664 1,666 35 (5) 6,560 Other 2,869 2,286 2,714 383 253 (22) 8,483 Total 16,729 16,186 7,550 3,820 448 (31) 44,702 YTD 2025 Revenue base Portfolio 12,860 11,902 6,564 3,542 292 (24) 35,136 Projects and above-base work2,992 2,267 703 431 100 (16) 6,477 Total 15,852 14,169 7,267 3,973 392 (40) 41,613 Customer category Key accounts 11,408 9,017 5,258 3,035 388 (37) 29,069 Large and medium 3,337 4,426 1,626 929 - (1) 10,317 Small and route-based 1,107 726 383 9 4 (2) 2,227 Total 15,852 14,169 7,267 3,973 392 (40) 41,613 Customer segments Office-based 6,669 5,656 2,295 1,841 196 (38) 16,619 Production-based 3,109 2,928 1,581 1,146 179 (3) 8,940 Healthcare 2,418 2,220 1,557 55 - 1 6,251 Other 3,656 3,365 1,834 931 17 - 9,803 Total 15,852 14,169 7,267 3,973 392 (40) 41,613 Core services Cleaning 6,495 6,631 3,425 1,055 47 (10) 17,643 Technical 3,858 4,092 610 794 100 (17) 9,437 Food 2,765 1,273 566 1,655 30 (4) 6,285 Other 2,734 2,173 2,666 469 215 (9) 8,248 Total 15,852 14,169 7,267 3,973 392 (40) 41,613 ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 25 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 5 Share-based payments Grants in H1 2026 Vesting criteria (LTIP 2026) Weight Vesting period (years) Weight Vesting period (years) TSR 35% 3 40% 3 EPS 35% 3 40% 3 Service-based 30% 5 20% 3 LTIP 2026 SIP 2026 Fair value (DKKm) At grant date 143 7 PSUs and participants (number) Participants 123 7 PSUs granted 597,607 29,372 Maximum PSUs at initial grant date 672,000 64,000 Vested programmes in H1 2026 After vesting, no further PSUs or RSUs are outstanding under the LTIP 2023 and SIP 2024 and the programmes have lapsed. InMarch2026,anewLTIPprogramme(LTIP2026)wasestablished,andatotalof451,834performance-basedshareunits(PSUs) was granted to other senior officers of the Group. In May 2026, a further 145,773 PSUs and Restricted Share Units (RSUs) were granted to members of the EGM, as part of LTIP 2026. In line with the updated Remuneration Policy, adopted at the annual general meeting 16 April 2026, which now allows for vesting periods of up to five years, RSUs granted to members of the EGM under the LTIP 2026, will vest after five years. Upon vesting and subject to the performance criteria, each PSU/RSU entitles the holder to receive one share at no cost. In March 2026, the LTIP 2023 programme vested. Based on annual Earnings per share (EPS) performance and TSR performance for the period 2023-2025, 96% of the granted PSUs vested. The SIP 2024 programme vested 100% in March 2026 based on individual service criteria. The weighted average share price at the settlement date was DKK 225 for the vested programmes. EGM Other Senior Officers Inaddition,inMarch2026,29,372RSUsweregrantedtocertainmembersoftheEGMandOtherSeniorOfficersoftheGroup under the Group's Special Incentive Programme (SIP). Subject to individual service criteria, the RSUs will vest after two years. Upon vesting, each RSU entitles the holder to receive one share at no cost. The programme and vesting criteria are described in note 6.2 in the consolidated financial statements for 2025. ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 26 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 6 Other income and expenses, net (DKKm) YTD 2026 YTD 2025 Other 13 - Other income 13 - Loss on divestments (24) (17) Acquisition and integration costs (41) (17) Other (3) (26) (32) Other expenses (68) (60) Other income and expenses, net (55) (60) 7 Finance income and costs (DKKm) YTD 2026 YTD 2025 Interest income on cash and cash equivalents 82 94 Monetary gain on hyperinflation restatement, Türkiye 53 55 Finance income 135 149 Interest expenses on borrowings 1) (301) (237) Interest expenses on lease liabilities 1) (76) (76) Net interest on defined benefit obligations (39) (34) Bank and commitment fees (37) (34) Interest expenses on factoring 1) (25) (27) Amortisation of financing fees (non-cash) 1) (13) (14) Hedge ineffectiveness of interest rate swaps - (4) Other - (4) Foreign exchange losses (8) (15) Finance costs (499) (445) 1) The total interest expensed determined on an amortised cost basis was DKK 415 million (2025: DKK 354 million). Interest income on cash and cash equivalents decreased due to lower cash positions on average in H1 2026 compared to same period in 2025. LossondivestmentsmainlyrelatedtothedivestmentoftheAviationbusinessinAustriaandcarve-outofthesecuritybusiness activities of Grupo Fissa in Spain. In 2025, the loss related to adjustments to prior year divestments. Acquisition and integration costsrelated to the Group’s acquisition in Norway and New Zealand in 2026 as well as prior year's acquisitions in Spain, Austria and Belgium. Of the total amount, DKK 12 million was acquisition costs (2025: DKK 1 million). Other(income)comprisedfinalsettlementofthecontingentconsiderationfromActerarelatedtothetransactioninTürkiyein 2021. Interest expenses on borrowings mainly comprised interest on issued bonds and Euro-Commercial Paper (ECP). The increase compared to 2025 was driven by a higher net debt position during the first half of 2026 due to increased utilisation of the Euro- Commercial Paper programme. ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 27 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 8 Changes in working capital (DKKm) YTD 2026 YTD 2025 Changes in inventories (22) (5) Changes in receivables (1,236) (1,185) Changes in payables 581 (388) Changes in working capital (677) (1,578) 9 Acquisitions Tomagruppen AS, Norway Cater Plus Services, New Zealand The acquisition adds an estimated DKK 0.2 billion to Group annual revenue and 750 employees. Since completion, Cater Plus Services contributed revenue of DKK 87 million to the Group. Goodwill is attributable mainly to: 1) expertise, know-how and established market position in food services; 2) platform for growth; 3) cross-selling synergies and scale benefits; and 4) assembled workforce. On 29 June 2026, ISS acquired 100% of the shares in Norwegian-based Tomagruppen AS, a provider of cleaning, catering, property management, and other support services to both public and private sector customers, operating in Norway and Denmark, with the vast majority of operations in Norway. The acquisition adds an estimated DKK 1.8 billion to Group annual revenue and approximately 4,500 employees. Goodwillisattributablemainlyto:1)synergiesandscalebenefits;2)strategicnationwidefootprint;3)expertiseandknow-how across the platform; and 4) assembled workforce. On 2 February 2026, ISS acquired 100% of the shares in Cater Plus Services in New Zealand. The acquisition strengthens our food services capability and supports our strategy to deliver integrated facility service solutions for customers across Key customer segments in the Pacific region. Theacquisitionreinforcesourpositionamongthemarket-leadingfacilityservicesprovidersinNorway,whileaddingfurtherscale and know-how to ISS Denmark’s position across sectors. Consistent with the Group’s normal procedures, and given the short interval between the completion of the acquisition and the reporting date, the acquisition accounting has not yet been completed. As a result, the fair values of certain assets and liabilities, such as customer contracts and trade receivables, are based on management’s best estimates, as the necessary analyses and calculations are currently ongoing. TotalconsiderationamountedtoDKK770millionofwhichDKK385millionisdeferredwithnoconditionsattachedandwillbepaid in two tranches in January 2027 (60%) and January 2028 (40%), respectively. TotalconsiderationamountedtoDKK80millionofwhichDKK11millioniscontingentupontheEBITAachievedinthefirstyear after the acquisition and has been recognised at the maximum amount payable. Further, DKK 7 million of the total consideration is deferred to February 2028 with no conditions attached. The Group completed two acquisitions in the period 1 January - 30 June 2026, in addition to the acquisition of Actera's 39.9% ownership interest in ISS Türkiye, see note 14, Non-controlling interests. ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 28 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 9 Acquisitions (continued) Net assets and cash flow (DKKm) Toma- gruppen Cater Plus Services Other/Prior year adj. YTD 2026 YTD 2025 Customer contracts 268 17 (2) 283 - Other non-current assets 57 12 18 87 - Trade receivables 413 20 (1) 432 - Other current assets 120 6 - 126 - Non-current liabilities (270) (26) 12 (284) - Current liabilities (494) (36) (51) (581) - Fair value of net assets 94 (7) (24) 63 - Goodwill 676 87 23 786 (3) Consideration transferred 770 80 (1) 849 (3) Cash in acquired business (39) (5) - (44) - Consideration transferred, net 731 75 (1) 805 (3) Contingent and deferred consideration (385) (18) 19 (384) 9 Acquisitions (cash flow) 346 57 18 421 6 Pro forma revenue/operating profit Subsequent acquisitions 10 Free cash flow (DKKm) YTD 2026 YTD 2025 Cash flow from operating activities 1,301 135 Acquisition of intangible assets, property and equipment (321) (315) Disposal of intangible assets, property and equipment 14 6 Changes in financial assets 1) 7 9 Addition of right-of-use assets, net (433) (377) Free cash flow 568 (542) Had the acquisitions been completed on 1 January 2026, pro forma revenue would have been DKK 45,622 million and pro forma operating profit before other items would have been DKK 2,112 million, corresponding to adjustments of the reported amounts of DKK 920 million and DKK 85 million, respectively. The Group completed no acquisitions from 1 July to 11 August 2026. 1) Excluding changes in equity-accounted investments of DKK (0) million (2025: DKK (3) million). Free cash flow as defined by management, see 8.5, Definitions in the consolidated financial statements for 2025, is specified below. Free cash flow is not a financial performance measure defined by IFRS. Accordingly, the measure and its calculation is presented as it is used by management as an alternative performance measure in managing the business. The free cash flow measure should not be considered a substitute for those measures required by IFRS and may not be calculated by other companies in the same manner. As such, reference is made to the IFRS measures included in the consolidated statement of cash flows of the consolidated financial statements. ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 29 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 11 Impairment tests 12 Other receivables (DKKm) YTD 2026 YTD 2025 Prepayments to suppliers 703 680 Supplier rebates and bonuses 451 467 Sign-on fees 408 113 Securities 150 129 Transition and mobilisation 105 40 83 56 VAT refunds 81 50 Divestment proceeds 66 60 Government grants 40 46 Derivatives 15 87 Other 341 182 Total 2,443 1,910 At30June2026,thereviewperformeddidnotindicateimpairmentofthecarryingamountofintangibles.Basedonthereview performed, it is management’s opinion, that excess values are fairly resilient to any likely and reasonable deteriorations in the key assumptions applied and presented in note 3.2 in the consolidated financial statements for 2025. TheGroupperformsimpairmenttestsonintangibles,i.e.goodwill,brandsandcustomercontracts,annuallyandwheneverthere is an indication that intangibles may be impaired. The annual impairment test is performed as per 31 December based on financial forecasts approved by management covering the following financial year. Other receivables increased by DKK 0.5 billion in the first six months of 2026 compared with the same period last year. The increase was mainly driven by additions from acquired companies and sign-on fees. Sign-on fees to certain large customers are incurred in the normal course of business and related mainly to the contract extension with DTAG, as well as to certain customer contracts in the UK and with global key account customers. The sign-on fee related to DTAG has extended payment terms, please refer to note 18, Other liabilities for further information. In addition, transition and mobilisation increased due to a higher level of contract start-ups, most notably in the UK and Australia. Salary advances and other employee-related refunds ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 30 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 13 Equity 14 Non-controlling interests Ownership structure in ISS Türkiye Transactions with non-controlling interests (DKKm) YTD 2026 Consideration transferred (985) Transaction costs (30) Capital injection 44 Transactions with other non-controlling interests(9) Equity impact (980) (DKKm) YTD 2026 Consideration transferred (985) Transaction costs (30) Capital injection 44 Transactions with other non-controlling interests(9) Deferred consideration 350 Settlement of 2021 contingent consideration 3 Cash flow impact (627) On1May2026,ISSannouncedtheacquisitionofActera's39.9%ownershipinterestinISSTürkiyeforapurchasepriceofDKK985 million of which DKK 350 million is deferred and to be paid in three equal instalments in 2027, 2028 and 2029. As security for the deferred payments, ISS delivered three irrevocable and unconditional bank guarantees. The excess value of the purchase price over the carrying amount of the non-controlling interest was DKK 386 million and was recognised in equity as a transaction between owners. On 16 April 2026, the annual general meeting adopted the Board of Directors’ proposal to reduce the Company’s share capital from 174,200,000 to 160,000,000 shares. The reduction was implemented on 18 May 2026 by way of cancellation of 14,200,000 own shares with an average price of DKK 191.17 and amounting to a total value of DKK 2,715 million. Acterahasbeena minorityshareholdersince2021followingtheacquisitionofRönesans.Withthistransaction,ISS'sownership interest in ISS Türkiye increased from 50.1% to 90.0%. ISS remains the controlling shareholder of ISS Türkiye and Management of ISS Türkiye continues to hold 10.0% of the shares. In connection with the acquisition of Actera's ownership interest, ISS Türkiye was refinanced through a capital injection, in which Management of ISS Türkiye contributed its proportionate 10.0% share, amounting to DKK 44 million. The impact of both transactions on equity and cash flow is specified below. ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 31 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 15 Borrowings Refinancing of bonds 16 Pensions and similar obligations 17 Provisions (DKKm) Legal claims and disputes Self- insurance Restruc- turings Onerous contracts Other YTD 2026 YTD 2025 At 1 January 92 231 31 39 225 618 603 FX adjustments 1 12 - - 2 15 (46) Profit or loss impact: Additions 43 128 16 - 83 270 176 Unused amounts reversed (9) (3) - (1) - (13) (33) Acquisitions 23 - - - - 23 - Used during the year (payment) (14) (143) (24) (6) (37) (224) (193) Reclass (to)/from other liabilities 21 - - - - 21 8 At 30 June 157 225 23 32 273 710 515 Non-current 70 84 - 25 209 388 317 Current 87 141 23 7 64 322 198 Forinterimperiods,theGroup’sdefinedbenefitobligationsarebasedonvaluationsfromexternalactuariescarriedoutattheend of the prior financial year taking into account any subsequent movements in the obligation due to pension costs, contributions etc. up until the reporting date. Actuarial calculations are only updated to the extent that significant changes in applied assumptions have occurred since 1 January. Based on an overall analysis carried out by management, it is determined whether updated actuarial calculations should be obtained for interim periods. At 30 June 2026, the overall evaluation carried out by management resulted in updated actuarial calculations being obtained for Switzerland and the UK due to market fluctuations, which had impacted interest rates, inflation rates and asset values. The updated calculations led to recognition of an actuarial gain of DKK 38 million and gain on plan assets of DKK 329 million, which was offset by a change in asset ceiling of DKK 399 million due to surplus restrictions. The net loss of DKK 32 million was recognised in other comprehensive income with a resulting increase in the Group's defined benefit obligations. On 6 May 2026, ISS issued a 5-year bond with a principal amount of EUR 750 million and a coupon of 3.50%. The bond was issued under the Group’s EUR 3 billion European Medium Term Note (EMTN) programme, which is listed on the Luxembourg Stock Exchange. The net proceeds were used for repayment of the Group's EUR 500 million EMTNs maturing in June 2026 as well as for general corporate purposes. ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 32 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 18 Other liabilities (DKKm) YTD 2026 YTD 2025 Accrued wages, pensions, holiday allowances and social security 6,512 5,675 Tax withholdings, VAT etc. 1,939 1,629 Prepayments from customers 1,015 1,062 Contingent consideration and deferred payments 986 220 Supplier, customer and other discounts 443 176 Savings plan 146 129 Accrued interests 119 133 Derivatives 15 14 Other 343 276 Total 11,518 9,314 19 Contingent liabilities Deutsche Telekom AG Update on contractual disagreements Other liabilities increased by DKK 2.2 billion in the first six months of 2026 compared with the same period last year. The increase was largely driven by higher activity levels and organic growth across the Group, resulting in higher employee-related accruals and VAT liabilities. In addition, contingent consideration and deferred payments increased in relation to the acquisition of Tomagruppen in Norway and the 39.9% minority stake in ISS Türkiye acquired from Actera. Finally, supplier, customer and other discounts increased, mainly due to sign-on fees committed in connection with the extension of the contract with DTAG. The sign- on fees have extended payment terms and will be paid over a period of time. As previously communicated, DTAG has withheld certain payments related to services performed by ISS. Following the agreement, DTAG has paid these amounts, and the parties have established clarity on contractual positions, both historically and going forward. Based on the agreement, ISS has reassessed revenue recognised in previous years, resulting in a one-off revenue adjustment with a meaningful impact in H1 2026. The increase in operating profit before other items related hereto is expected to be reduced in the second half of 2026 due to commitments to invest further in the contract and partnership with DTAG. The agreement did not result in other reassessments to prior-year estimates. On19May2026,ISSannouncedthatit hadreacheda settlementagreementresolvingthecontractualdisagreementswith Deutsche Telekom AG (DTAG) referenced in the 2025 Annual Report. ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 33 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 20 Hyperinflation in Türkiye (DKKm) YTD 2026 (excl. IAS 29) Non- monetary items Profit or loss Retrans- lation (end rates) Total adjust- ments YTD 2026 Profit or loss Revenue 44,533 - 244 (75) 169 44,702 Operating profit before other items 2,057 (42) 17 (5) (30) 2,027 Operating profit 1,956 (56) 17 (5) (44) 1,912 Net profit 1,203 (11) - - (11) 1,192 Financial ratios Organic growth (non-IFRS) 8.2% - - - - 8.2% Operating margin (non-IFRS) 4.6% (0.1%) 0.0% (0.0%) (0.1%) 4.5% Cash flows Operating activities 1,296 - - 5 5 1,301 Investing activities (781) - - 1 1 (780) Financing activities 386 - - 2 2 388 Free cash flow (non-IFRS) 562 - - 6 6 568 YTD 2026 (excl. IAS 29) Acc. Inflation restate- ment YTD 2026 Financial position Goodwill 20,426 1,098 21,524 Other intangible assets 3,687 436 4,123 Right-of-use assets, property and equipment 3,285 112 3,397 Total assets 48,282 1,646 49,928 Other comprehensive income 1) (1,057) 1,431 374 Other equity elements 8,830 78 8,908 Total equity 7,773 1,509 9,282 Deferred tax liabilities 1,072 137 1,209 Total equity and liabilities 48,282 1,646 49,928 1) In year impact of restatement amounted to DKK 245 million (2025: DKK 193 million). The table below shows the accounting impact of the hyperinflation restatements for the period 1 January - 30 June 2026: Inflation restatement, in year effect During the first six months of 2026, the inflation rate increased to 17.76% (H1 2025: 16.67%) and the exchange rate for TRY/DKK decreased from 14.79 in the beginning of year to 14.06 at 30 June 2026, leading to an average rate of 14.35 (H1 2025: 18.16). ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 34 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 21 Subsequent events Noeventshaveoccurredsubsequentto30June2026,whichareexpectedtohavea materialimpactontheGroup’sfinancial position. ____________________________________________________________________________________________________________ ISS A/S – Interim report for 1 January - 30 June 2026 35 of 37
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 ISS A/S – Interim Report for 1 January – 30 June 2026 36 of 37 Other Conference Call A conference call will be held on 11 August 2026 at 10:00 am CET. Presentation material will be available online prior to the conference call. Registration link: Link to webcast can be found on ISS’ investor relations webpage. For investor enquiries Michael Vitfell-Rasmussen, Head of Group Investor Relations Phone: +45 53 53 87 25 E-mail: Michael.vitfell@group.issworld.com Anne Sophie Riis, Senior Investor Relations Manager Phone: +45 30 52 94 68 E-mail: anne.sophie.riis@group.issworld.com For media enquiries Charlotte Holm, Head of External Communication Phone: +45 41 76 19 89 E-mail: charlotte.holm@group.issworld.com Contact information ISS A/S Buddingevej 197 DK-2860 Søborg Tel.: +45 38 17 00 00 Fax.: +45 38 17 00 11 www.issworld.com CVR 28 50 47 99 ESEF data Name of reporting entity: ISS A/S Domicile of entity: Denmark Legal form of entity: A/S Country of incorporation: Denmark Address: Buddingevej 197, DK-2860 Søborg Principal place of business: Global Principal activities: Workplace and facility service solutions Name of the parent entity: ISS A/S Name of the ultimate parent and Group: ISS A/S P368#y
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Company announcement no. 51/2026 Copenhagen, 11 August 2026 ISS A/S – Interim Report for 1 January – 30 June 2026 37 of 37 Our global footprint Countries in dark blue are full-scope countries Countries in light blue are countries with Global Managed Services ISS is a leading , global provider of workplace and facility service solutions . In partnership with customers, ISS drives the engagement and well-being of people, minimises the impact on the environment, and protects and maintains property. ISS brings all of this to life through a unique combination of data, insight and service excellence at offices, factories, airports, hospitals and other locations across the globe. In 2025, Group revenue was DKK 84.7 billion.