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ISS INVESTOR PRESENTATION Q3 2026 Trading Update 4 November 2026 - Kasper Fangel, Group CEO & Mads Holm, Group CFO
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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 Q3 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 A quarter of delivery towards our mid-term ambitions FINANCIALS Business update: • Financial performance inline with expectations: Across all regions and on all 3 KPIs • Organic growth, margin and cash flow: on track to deliver on 2026 full-year guidance • Continued commercial momentum: 17 contract announcements YTD, exeeding DKK 100mn. • Larger renewals secured: All larger contracts due in 2026 extended, maturity profile down to 0% and retention rate of 95% • Toma integration: Progressing according to plan, with significant actions to realise cost synergies executed in Q3 • Hong Kong fire: Independent Committee report released last week • 2026 outlook unchanged: Organic growth >6%, margin ~5.25%, FCF >DKK 3.1bn 6.8% Q3 Organic growth 17 Contract announcements YTD 95% LTM customer retention 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 Q3 2026: Delivering on our strategic priorities 1 2 3 Strategy execution on track Key results ✓ Workforce management: Scaling productivity initiatives to support margin expansion ✓ US: Early commercial traction, with two contract announcements YTD, and continued positive pipeline development in Q3 ✓ Toma: Integration to realise expected benefits on track Consistent financial performance Key results ✓ Q3 organic growth: 6.8% ✓ On track to deliver FY 2026 outlook on all 3 financial KPIs ✓ Detailed execution roadmap and incentive plans in place to deliver on 2026 -28 financial ambitions and significantly improve the EPS growth Strong engagement Key results ✓ ISS Barclays won the Social Value Award at the 2026 IWFM Impact Awards ✓ ISS UBS EMEA won the Equity, Diversity and Inclusion Award at the 2026 IWFM Impact Awards Building commercial momentum and scaling operational efficiencies to support profitable growth and expand margins Delivering against our financial commitments while strengthening the foundation for future growth Engaged people and strong local execution remain fundamental to our success
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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 Continued commercial success in our key segments strengthens our revenue mix BUSINESS UPDATE Segments Wins Expansions/Extensions Reductions/exits 1 1 3 1 3 2 1 4 1 Total 2026 contract announcements: 17 4 new wins 10 expansions/extensions 3 scope reductions/exits Note: DKK +100m contracts, expansions include two significant contract extensions each 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: Like-for-Like growth expected to return to ~2% in Q1 27 1) LFL, Like-for-Like = volume + net new wins Illustrative only, 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 All larger 2026 contracts extended, strengthening revenue visibility 6% 15% 10% 0% 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 Organic growth of 6.8% in Q3, driven by continued strong revenue quality Organic growth building blocks Net price increases ~ 0.5% Volume growth ~ 1.5% Net contract wins ~ 1% Projects and above-base Organic growth ~ 4% 6.8%
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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 (39% of Group) • Strong above-base activity, with above-base revenues growing 15% year-on-year. • Growth was broad-based across the region, with the largest contributiom from UK and Denmark, supported by contract start-ups including DWP, West Sussex County Council, Bank of England, COWI and Velux Q3 2025: 1% Q3: 6% Central & Southern Europe (34% of Group) • Organic growth was driven by pricing, net new wins and volume expansion with existing customers, while above-base activity was a small headwind due to tough year-on-year comparables • Revenue was broad-based across the region, with particularly strong performance in Italy, Spain, Türkiye and Austria Q3 2025: 10% Q3: 10% Asia & Pacific (18% of Group) • Organic growth was driven by pricing and volume growth, while net new wins remained neutral due to tough year-on- year comparables • Revenue growth was led by strong contributions from Pacific and India during the quarter Q3 2025: 9% Q3: 6% Americas (8% of Group) • The negative organic growth was primarily driven by annualisation of contract exits in Chile as previously communicated, partly offset by price increases • Organic growth in the US was flat, Chile was negatively impacted by contract exits, while Mexico reported solid positive growth Q3 2025: -4% Q3: -1% Note other countries represented 1% of Group revenue Robust performance across regions
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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 Disciplined capital allocation to maximize shareholder returns FINANCIALS Update on integration of Toma A/S • Integration progressing according to plan, with business continuity maintained • Operational integration advancing, with key organisational structures in place • Synergy realisation in line with expectations, supporting the acquisition's investment case DKK 0.5bn In paid dividend 8% Total payout yield 33% 67% DKK 2bn of share buyback completed 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 strict criteria, surplus capital is returned via share buybacks
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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 KASPER FANGEL, GROUP CEO Outlook
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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 OUTLOOK 2026 outlook: Quality-led revenue and absolute EBITA growth Organic growth Operating margin Operating margin ~5.25% 1) 1) Excl. IAS 29, before other items Net price increases Volume growth Net new wins Projects and above-base Outlook Above 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 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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17 | © 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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18 | © 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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19 | © 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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20 | © 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 Q2 2026 Wins • Tryg, Northen Europe (revenue impact c. +0.1%) Expansions • Key account customer, Americas (revenue impact c. +0.2%) • Tech, Global (revenue impact c. +0.1%) Extensions • Global manufacturer customer, Global (revenue impact c. 1%) 1) Since Q2 results 11 August 2026. Includes contracts above DKK 100mn annually, and extensions above DKK 500mn 1)
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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 APPENDIX Quarterly revenue and organic growth 1) Excl. IAS 29 Non-portfolio revenue, DKK bn Portfolio revenue, DKK bn Organic growth 16.3 16.9 17.1 17.4 17.0 17.8 17.8 17.5 17.3 18.3 18.4 18.7 19.1 3.1 3.6 2.9 3.1 3.2 4.5 3.2 3.3 3.3 3.9 3.5 4.0 3.6 19.4 20.5 20.0 20.5 20.2 22.3 21 20.8 20.6 22.2 21.9 22.7 22.7 9.3% 7.1% 6.0% 5.8% 4.8% 8.3% 4.3% 3.8% 4.9% 4.1% 7.4% 8.9% 6.8% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 0 5,000 10,000 15,000 20,000 25,000 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26
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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 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 LTM period refers to H2 25 – H1 26 across all charts 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% LTM 83% 15.6% 23.3 LTM 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM 12.0 12.1 10.9 1.5 7.3 -28 3.3 11.1 1.5 14.3 15.6 17.3
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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 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 C+ prime status, Decile rank 1 Methodology note, A = top score B, above average for the industry RATINGS Credit & Sustainability ratings
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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 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 FY 2026 Annual Report 24 February 2027 Annual General Meeting 13 April 2027 Q1 2027 Trading Update 5 May 2027 H1 2027 Interim Report 11 August 2027 Q3 2027 Trading Update 3 November 2027 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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25 | © 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.