Interim report
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Q3 2026 Interim Report JANUARY–SEPTEMBER 2026 30 October 2026
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About this report The figures in brackets refer to the comparative period, i.e., the same period in the previous year, unless otherwise stated. The Condensed Interim Financial Statements included in this Interim Report have been prepared in accordance with the IAS 34 Interim Financial Reporting as approved by the EU. The information presented in this Interim Report is unaudited. A reconciliation of alternative performance measures (APM) to IFRS figures is presented in Appendix 1 of the Condensed Interim Financial Statements and notes. Content: CEO Kirsi Puntila ................................................................................................................................................................................................ 4 Business Review ................................................................................................................................................................................................ 5 Market environment ....................................................................................................................................................................................... 11 Financial review ............................................................................................................................................................................................... 12 Sustainability ..................................................................................................................................................................................................... 14 Anora share ......................................................................................................................................................................................................... 17 Outlook for 2026 ................................................................................................................................................................................................ 21 Contacts ............................................................................................................................................................................................................... 21 Conference call ................................................................................................................................................................................................. 21 Condensed Interim Financial Statements and notes ........................................................................................................................ 22
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Anora’s Interim Report January–September 2026 FFF actions fuelled Net Sales and Comparable EBITDA growth in Q3 Q3 2026 in brief • Net sales were EUR 157.5 (156.7) million, up by 0.5%. • Comparable EBITDA was EUR 20.2 (18.0) million, or 12.8% (11.5%) of net sales, up by 12.5%. • EBITDA was EUR 20.1 (18.0) million, or 12.8% (11.5%) of net sales, up by 11.5%. • Net cash flow from operating activities was EUR -5.6 (-0.8) million. • Earnings per share was EUR 0.09 (0.09). January-September 2026 in brief • Net sales were EUR 453.8 (463.6) million, down by 2.1%. • Comparable EBITDA was EUR 45.0 (40.0) million, or 9.9% (8.6%) of net sales, up by 12.7%. • EBITDA was 39.1 (40.4) million, or 8.6% (8.7%) of net sales, down by 3.3%. • Net cash flow from operating activities was EUR -45.4 (-54.2) million. • Earnings per share was EUR 0.07 (0.09). • Net debt/comparable EBITDA (rolling 12 months) was 2.5 (3.0). Key figures EUR million Q3 26 Q3 25 Change Q1–Q3 26 Q1–Q3 25 Change 2025 Net sales 157.5 156.7 0.5 % 453.8 463.6 -2.1 % 657.9 Comparable EBITDA 20.2 18.0 12.5 % 45.0 40.0 12.7 % 71.1 % of net sales 12.8 11.5 9.9 8.6 10.8 EBITDA 20.1 18.0 11.5 % 39.1 40.4 -3.3 % 61.5 Comparable operating result 13.3 11.3 17.7 % 24.6 19.8 24.4 % 43.9 % of net sales 8.5 7.2 5.4 4.3 6.7 Operating result 10.7 11.4 16.1 20.2 23.8 Result for the period 5.9 6.2 4.6 6.2 5.7 Earnings per share, EUR 0.09 0.09 0.07 0.09 0.08 Comparable earnings per share, EUR 0.12 0.09 0.17 0.09 0.33 Net cash flow from operating activities -5.6 -0.8 -45.4 -54.2 50.3 Net working capital -12.3 3.1 -12.3 3.1 -79.6 Net debt/comparable EBITDA, rolling 12 months 2.5 3.0 2.5 3.0 1.4 Personnel end of period 1,150 1,232 -6.7 % 1,150 1,232 -6.7 % 1,190 Guidance (unchanged): In 2026, Anora’s comparable EBITDA is expected to be EUR 74-79 million (2025: EUR 71.1 million). Short-term risks and uncertainties, including volatility in currencies, price elasticity, such as risks related to significant price increases, and the big seasonal impact of the last quarter of the year have been discussed in the risk section of this report and in Business review respectively. Interim Report | January–September 2026 | 30 October 2026 | 3
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CEO Kirsi Puntila: “The third quarter results provided further proof that our Fit, Fix, Focus (FFF) actions are improving performance. We were happy to see our net sales turn to growth, for the first time since the second quarter of 2022, excluding acquisitions. Our net sales increased by 0.5%, beating the continued weak market development. We also delivered a clearly stronger profitability and strengthened our financial position further. This demonstrates that our strategic priorities are translating into tangible operational and financial improvements. Gross margin increased to 47.7% of net sales, the highest level in several years in the third quarter, reflecting disciplined revenue management, portfolio optimisation and continued operational improvements. Comparable EBITDA increased by 12.5% to EUR 20.2 million in the third quarter, while the comparable EBITDA margin improved from 11.5% to 12.8%. Our operating environment remained still challenging, with Nordic market volumes declining by 3.2%, particularly in Finland, Norway, and Denmark in the quarter. The effects of the earlier portfolio changes on net sales decreased, including the loss of lower-margin filler service volumes and certain partner brands, and they are no longer expected to have any major impact during the rest of the year. The third quarter also brought a number of significant new distribution partnerships. Anora will become the exclusive distributor of the Bacardi portfolio in all channels in Sweden and Norway, except for ready-to- drink beverages in Norway. The distribution agreement has an initial term until the end of Q1 2031, adding an estimated EUR 25–30 million in annualised net sales. We also partnered with Sweet 'n' Syrup Finland Oy to distribute Modo syrups across the Nordic and Baltic markets, expanding our reach into the growing non- alcoholic category. Furthermore, we agreed to exclusively import and distribute VSPT Wine Group's full Swedish portfolio across Systembolaget, on-trade and travel retail. Together, these agreements reflect both the strength of our distribution platform and the confidence that world-class partners place in Anora. Our segment performance reflects the progress we are making. Spirits continued to improve profitability through stronger gross margins and disciplined commercial execution despite slightly lower sales. Industrial delivered another excellent quarter with strong earnings growth driven by higher contract manufacturing volumes and operational efficiency. Wine continued to operate in a challenging market, but the margin improvements demonstrate that the commercial actions under FFF programme are gaining traction. Our net cash flow from operating activities was EUR -45.4 million in January-September, an improvement of EUR 8.7 million compared to the previous year. We also continued to see a strong inventory reduction of 14.3 million euros. Our balance sheet remained robust, with our interest-bearing debt / comparable EBITDA ratio down to 2.5 (3.0). All this creates a stronger financial platform to support the execution of our strategy. Going forward, we remain focused on the swift and disciplined execution of the FFF initiatives, while driving profitable growth, margin improvement, cash generation and capital efficiency. The progress achieved so far strengthens our confidence that FFF programme is creating a structurally stronger Anora with a stronger earnings and cash generation capabilities and a more resilient financial platform. This will position us to deliver on our mid-term targets.” Interim Report | January–September 2026 | 30 October 2026 | 4
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Business Review Anora has three reportable segments: Wine, Spirits, and Industrial. Wine segment The Wine segment develops, markets and sells Anora’s own wine brands as well as partner wines to customers in the Nordic monopoly markets and Denmark (“wine business”). The Wine segment also comprises Køge wine filling plant in Denmark and third party contract manufacturing (“filler services”). Spirits segment The Spirits segment develops, markets and sells both Anora’s own spirits brands and partner brands to customers in Finland, Sweden, Norway, the Baltic countries, Denmark, and Germany. The Spirits segment also includes global duty free and travel retail sales and exports to other countries. Anora’s beverage business in the Baltics is reported within the Spirits segment. Industrial segment The Industrial segment comprises Anora’s industrial business – industrial products and services such as contract manufacturing, the logistics company Vectura, and internal production and supply chain operations. Of the total net sales of the Industrial segment, typically approximately 40–60 percent is sales of own production to group internal counterparties. Seasonality There are substantial seasonal fluctuations in the consumption of alcoholic beverages impacting the net sales and cash flow of Anora. The company typically generates large amounts of its revenue and cash flow during the fourth quarter of the year, whereas the first quarter of the year is significantly lower. In addition, excise taxes related to the high season at the end of the year are paid in Q1, resulting in large cash outflows. Also, the timing of Easter fluctuating between Q1 and Q2 impacts quarterly sales and profitability. Interim Report | January–September 2026 | 30 October 2026 | 5
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Anora Group Q3 26 Q3 25 Change,% Q1–Q3 26 Q1–Q3 25 Change,% 2025 Net sales (external), EUR million 157.5 156.7 0.5 % 453.8 463.6 -2.1 % 657.9 Gross profit, EUR million 75.1 68.8 9.0 % 213.4 204.3 4.5 % 291.9 Gross margin, % of net sales 47.7 43.9 47.0 44.1 44.4 Comparable EBITDA, EUR million 20.2 18.0 12.5 % 45.0 40.0 12.7 % 71.1 Comparable EBITDA margin, % of net sales 12.8 11.5 9.9 8.6 10.8 Wine Q3 26 Q3 25 Change,% Q1–Q3 26 Q1–Q3 25 Change,% 2025 Net sales (external), EUR million 66.3 70.3 -5.8 % 191.9 210.2 -8.7 % 301.1 Gross profit, EUR million 21.1 20.4 3.6 % 59.9 60.9 -1.7 % 89.6 Gross margin, % of net sales 31.8 29.0 31.2 29.0 29.7 Comparable EBITDA, EUR million 3.8 3.5 11.0 % 5.8 5.6 2.2 % 18.6 Comparable EBITDA margin, % of net sales 5.8 4.9 3.0 2.7 6.2 Spirits Q3 26 Q3 25 Change,% Q1–Q3 26 Q1–Q3 25 Change,% 2025 Net sales (external), EUR million 50.1 50.8 -1.5 % 144.8 149.3 -3.0 % 215.1 Gross profit, EUR million 24.3 23.4 3.8 % 69.3 68.0 1.8 % 100.4 Gross margin, % of net sales 48.5 46.0 47.8 45.6 46.7 Comparable EBITDA, EUR million 9.5 9.3 1.5 % 26.1 25.1 3.9 % 40.4 Comparable EBITDA margin, % of net sales 18.9 18.3 18.0 16.8 18.8 Industrial Q3 26 Q3 25 Change,% Q1–Q3 26 Q1–Q3 25 Change,% 2025 Net sales external, EUR million 41.1 35.6 15.6 % 117.0 104.1 12.4 % 141.7 Net sales internal, EUR million 23.3 24.4 -4.6 % 61.1 64.3 -5.0 % 83.2 Net sales total, EUR million 64.4 59.9 7.4 % 178.1 168.4 5.8 % 224.8 Gross profit, EUR million 32.9 28.5 15.5 % 94.9 85.6 10.9 % 116.2 Gross margin, % of net sales 51.1 47.5 53.3 50.8 51.7 Comparable EBITDA, EUR million 7.2 5.8 22.7 % 16.7 12.9 29.9 % 18.0 Comparable EBITDA margin, % of net sales 11.1 9.7 9.4 7.6 8.0 Internal net sales, see Segment information section in the Condensed Interim Financial Statements. Interim Report | January–September 2026 | 30 October 2026 | 6
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Group net sales Q3 Net sales EUR million Q3 26 Q3 25 Change,% Wine 66.3 70.3 -5.8 % Spirits 50.1 50.8 -1.5 % Industrial, external 41.1 35.6 15.6 % Industrial, Internal 23.3 24.4 -4.6 % Industrial, total 64.4 59.9 7.4 % Anora Group, external 157.5 156.7 0.5 % In the third quarter, Anora Group’s net sales was EUR 157.5 (156.7) million, an increase of 0.5% compared to the previous year. The growth was driven by increased contract manufacturing, offset by the continued but reduced impacts of the earlier portfolio changes, including the loss of lower-margin filler service volumes and certain partner brands. The impact of exchange rate fluctuations was favourable by 1.6%. Organic growth in net sales stood at -1.1%, outperforming the total Nordic market volume decline (-3.2%). In the Wine segment, net sales declined by 5.8% to EUR 66.3 (70.3) million. The decline was primarily driven by lower sales in Norway and Denmark, filler service volumes in Denmark, in addition to reduced volumes in Finland. Anora maintained its market leadership in Norway, Denmark and Finland (including grocery trade), as well as strengthened its number two market position in the monopoly channel in Sweden. In the Spirits segment, net sales declined by 1.5% to EUR 50.1 (50.8) million, which was primarily a result of earlier changes in the partner portfolio in 2025 as well as inventory build-up by retailers in anticipation of the change in Denmark’s environmental tax in 2025. Meanwhile, the Baltics, Norway and Expansion markets delivered revenue growth. The Industrial segment’s total net sales increased to EUR 64.4 (59.9) million. External net sales increased by 15.6% to EUR 41.1 (35.6) million. The increase was driven by volume growth in contract manufacturing, starch and ethanol as well as in logistics services in Norway. Group Profitability Q3 Comparable EBITDA EUR million Q3 26 Q3 25 Change,% Wine 3.8 3.5 11.0 % margin, % 5.8 % 4.9 % Spirits 9.5 9.3 1.5 % margin, % 18.9 % 18.3 % Industrial 7.2 5.8 22.7 % margin, % 11.1 % 9.7 % Anora Group 20.2 18.0 12.5 % % of Group net sales 12.8 % 11.5 % The third quarter comparable EBITDA increased to EUR 20.2 (18.0) million or 12.8% (11.5%) of net sales, driven by improvement in all segments and impacts of the Fit, Fix, Focus (FFF) programme. The gross margin increased to 47.7% (43.9%), with improvements in all segments. This was mainly explained by pricing and sales mix decisions of the FFF strategy as well as strong improvement in Industrial. The gross profit amounted to EUR 75.1 (68.8) million. The FFF programme delivered visible savings in underlying operating expenses and personnel expenses through the actions taken, while the related one-off project costs reported as items affecting comparability increased the overall operating expenses. The transportation and energy costs were higher than last year. Bonus accruals were also higher. Items affecting comparability have been presented in Appendix 1. The Wine segment comparable EBITDA increased to EUR 3.8 (3.5) million, or 5.8% (4.9%) of net sales. The increase was due to an improvement in gross margin. Spirits comparable EBITDA increased to EUR 9.5 (9.3) million, or 18.9% (18.3%) of net sales. The increase was supported by improvement in gross margin, which amounted to 48.5% (46.0%), reflecting the impacts of revenue management, new launches within the liqueur category and overall favourable product mix. Industrial delivered a strong quarter, growing comparable EBITDA to EUR 7.2 (5.8) million, or 11.1% (9.7%) of net sales. Higher starch and ethanol volumes, together with a strong performance at the Koskenkorva distillery, drove the EBITDA improvement. Interim Report | January–September 2026 | 30 October 2026 | 7
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Q3 net sales (external), EUR million 156.7 -4.1 -0.8 5.6 157.5 Q3 25 Wine Spirits IndustrialQ3 26 Q3 comparable EBITDA, EUR million 18.0 0.4 0.1 1.3 0.4 20.2 Q3 25 Wine SpiritsIndustrialGroup and allocations Q3 26 Q3 net sales (external), EUR million 66.3 50.1 41.1 Wine Spirits Industrial Q3 Net sales organic growth Q3 comparable EBITDA, EUR million 20.2 3.8 9.5 7.2 -0.3 Anora Group total Wine Spirits Industrial Group and allocations Interim Report | January–September 2026 | 30 October 2026 | 8 0.5% 12.5% SEGMENTS Q3 26 Net sales, EUR million Q3 25 Net sales, EUR million Change % Currency impact % Acquisitions & disposals impact % Organic growth, % Market volume growth %1 Wine 66.3 70.3 -5.8 % 1.4 % – % -7.2 % -3.4 % Spirits 50.1 50.8 -1.5 % 1.8 % – % -3.3 % -2.0 % Industrial (external) 41.1 35.6 15.6 % 1.7 % – % 13.9 % n/a Group total 157.5 156.7 0.5 % 1.6 % – % -1.1 % -3.2 % 1 The Nordic market sales volumes include overall monopoly sales in Finland, Sweden and Norway, and sales in Denmark. On-trade is excluded. Sales volume change in percent calculated from the change in sales volumes in millions of litres. Sources: Alko, Systembolaget and Vinmonopolet and Nielsen IQ
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Group net sales Q1–Q3 Net sales EUR million Q1–Q3 26 Q1–Q3 25 Change,% Wine 191.9 210.2 -8.7 % Spirits 144.8 149.3 -3.0 % Industrial, external 117.0 104.1 12.4 % Industrial, Internal 61.1 64.3 -5.0 % Industrial, total 178.1 168.4 5.8 % Anora Group, external 453.8 463.6 -2.1 % In Q1–Q3, Anora Group’s net sales was EUR 453.8 (463.6) million, a decrease of 2.1% compared to the previous year. The decline was related to lower Wine sales volumes in Norway and Denmark, together with the headwinds from earlier lost volumes in the filler services and the earlier changes in Spirits partner portfolio in 2025. Meanwhile, contract manufacturing delivered revenue growth. The impact of exchange rate fluctuations was favourable by 1.6%. In the Wine segment net sales declined by 8.7% to EUR 191.9 (210.2) million. A significant part of the decline was due to lost market shares in Norway and the overall market downturn and intensified price and promotional competition, as well as lower filler services in Denmark. The wine business had a strong performance in Sweden, offset by declining sales in the other markets. Anora maintained its market leadership in Norway, Denmark and Finland (including grocery trade), as well as strengthened its number two market position in the monopoly channel in Sweden. In the Spirits segment, net sales declined by 3.0% to EUR 144.8 (149.3) million. This decline was primarily due to prior changes in the partner portfolio and challenging market conditions, also resulting in a market share decline in monopolies. The liqueurs performed best among categories, supported by the continued success of Koskenkorva brand. The Industrial segment’s total net sales increased to EUR 178.1 (168.4) million. External net sales increased by 12.4% to EUR 117.0 (104.1) million. The increase was driven by volume growth in contract manufacturing, starch and ethanol as well as in logistics services in Norway. Group Profitability Q1–Q3 Comparable EBITDA EUR million Q1–Q3 26 Q1–Q3 25 Change,% Wine 5.8 5.6 2.2 % margin, % 3.0 2.7 Spirits 26.1 25.1 3.9 % margin, % 18.0 16.8 Industrial 16.7 12.9 29.9 % margin, % 9.4 7.6 Anora Group 45.0 40.0 12.7 % % of Group net sales 9.9 8.6 Anora Group’s Q1–Q3 comparable EBITDA increased to EUR 45.0 (40.0) million or 9.9% (8.6%) of net sales. The gross margin increased to 47.0% (44.1%) of net sales, with improvements in all segments. The gross profit amounted to EUR 213.4 (204.3) million. The FFF programme delivered visible savings in underlying operating expenses and personnel expenses through the actions taken, while the related one-off project costs reported as items affecting comparability increased the overall operating expenses. The transportation and energy costs were higher than last year. Bonus accruals were also higher. Items affecting comparability have been presented in Appendix 1. The Wine segment comparable EBITDA increased to EUR 5.8 (5.6) million, or 3.0% (2.7%) of net sales. Notably, the gross margin improved to 31.2% (29.0%), reflecting the positive impact of revenue management. Spirits comparable EBITDA increased to EUR 26.1 (25.1) million, and the comparable EBITDA margin increased to 18.0% (16.8%) of net sales. The increase was supported by improvements in both gross margin, which rose to 47.8% (45.6%) driven by good revenue management, and more profitable product launches in the liqueur category. The Industrial segment’s comparable EBITDA increased significantly to EUR 16.7 (12.9) million, or 9.4% (7.6%) of net sales. Higher starch and ethanol volumes, together with a strong performance at the Koskenkorva distillery, drove the EBITDA improvement. Interim Report | January–September 2026 | 30 October 2026 | 9
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Q1–Q3 net sales (external), EUR million 463.6 -18.3 -4.4 13.0 453.8 Q1–Q3 25 Wine Spirits IndustrialQ1–Q3 26 Q1–Q3 comparable EBITDA, EUR million 40.0 0.1 1.0 3.9 0.1 45.0 Q1–Q3 25 Wine SpiritsIndustrialGroup and allocations Q1–Q3 26 Q1–Q3 net sales (external), EUR million 191.9 144.8 117.0 Wine Spirits Industrial Q1–Q3 Net sales organic growth Q1–Q3 comparable EBITDA, EUR million 45.0 5.8 26.1 16.7 -3.5 Anora Group total Wine Spirits Industrial Group and allocations Interim Report | January–September 2026 | 30 October 2026 | 10 -2.1% 12.7% SEGMENTS Q1–Q3 26 Q3 26 YTD Net sales, EUR million Q3 25 YTD Net sales, EUR million Change % Currency impact % Acquisitions & disposals impact % Organic growth, % Market volume growth %1 Wine 191.9 210.2 -8.7 % 1.7 % – % -10.5 % -3.2 % Spirits 144.8 149.3 -3.0 % 1.6 % – % -4.5 % -2.5 % Industrial (external) 117.0 104.1 12.4 % 1.3 % – % 11.1 % n/a Group total 453.8 463.6 -2.1 % 1.6 % – % -3.7 % -3.1 % 1 The Nordic market sales volumes include overall monopoly sales in Finland, Sweden and Norway, and sales in Denmark. On-trade is excluded. Sales volume change in percent calculated from the change in sales volumes in millions of litres. Sources: Alko, Systembolaget and Vinmonopolet and Nielsen IQ
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Market environment in Q3/20261 During the third quarter of 2026, sales volumes in the Nordics1 declined by 3.2% overall. Spirits declined by 2.0% and Wine declined by 3.4% compared to the same period last year. The decline was most significant in Finland and Norway, with total volumes decreasing by 5.6% and 5.5% respectively. Sweden showed a more moderate decline of 1.8%. Change compared to previous year, % Q3 26 Q1–Q3 26 Nordics, total sales volumes1 -3.2 -3.1 Spirits -2.0 -2.5 Wine -3.4 -3.2 Finland, total sales volumes -5.6 -6.0 Spirits -2.8 -4.6 Wine -6.7 -6.5 Sweden, total sales volumes -1.8 -2.2 Spirits -0.1 -0.4 Wine -2.0 -2.3 Norway, total sales volumes -5.5 -3.5 Spirits -4.0 -3.1 Wine -5.7 -3.6 Denmark, total sales volumes -2.7 -3.0 Spirits -2.7 -3.0 Wine -3.3 -4.2 The Swedish market remained the most resilient in the Nordics. Monopoly sales volumes declined by 1.8% in the third quarter, with spirits proving more resilient than wine. Spirits volumes held up close to last year’s level, down only 0.1%, supported by liqueur, which increased by 6.0%. Year-to-date market volumes were down 2.2%. The Finnish market remained challenging. Monopoly sales volumes declined by 5.6% in the third quarter, reflecting continued pressure from higher excise taxes and the shift of sales from the monopoly to the retail channel due to alcohol market liberalisation. Wine volumes declined by 6.7%, primarily driven by white wine, which declined by 9.5% in third quarter. The Norwegian market weakened in third quarter, with total volumes declining by 5.5%. Spirits sales volumes declined by 4.0% and Wine by 5.7%. The wine decline was driven particularly by white wine and red wine, which declined by 6.5% and 4.9% respectively. Year-to-date market volumes were down 3.5%. The Danish market remained soft in third quarter, with total market volumes declining by 2.7%, with spirits down by 2.7% and wine down by 3.3%. The availability and cost of raw materials, labour, energy and fuel have already partly impacted on the operating environment. Also wage inflation has gradually increased. As a result, retail selling prices have increased in all three monopolies. The price increases, driven by higher input costs, have led to consumers trading down, which in turn has resulted in lower overall sales volumes. Interim Report | January–September 2026 | 30 October 2026 | 11 1 The Nordic market sales volumes include overall monopoly sales in Finland, Sweden and Norway, and sales in Denmark. On-trade is excluded. Sales volume change in percent calculated from the change in sales volumes in millions of litres. Sources: Alko, Systembolaget and Vinmonopolet and Nielsen IQ.
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Financial review Financial items and result Q3 In the third quarter, other operating income amounted to EUR 2.8 (2.0) million, including the sales of steam, energy and water of EUR 1.3 (1.1) million, EUR 0.5 (–) million gain on a contingent consideration from a prior disposal, EUR 0.4 (–) million gain on sale of assets and rental income of EUR 0.4 (0.3) million. Employee benefit expenses totalled EUR 25.2 (22.9) million in the third quarter where the increase was mainly due to higher bonus accruals compared to the previous year. Other operating expenses amounted to EUR 29.8 (27.9) million. Anora recorded EUR -1.8 million additional depreciation on the peat-boiler that is being replaced by biomass-boiler at the Koskenkorva distillery and a EUR -0.7 million additional depreciation on certain assets at the Brunna logistics center that will be scrapped after outsourcing of the logistics and warehouse operations as described in Key Events during the period section. Net financial expenses were EUR 3.1 (3.5) million and earnings per share amounted to EUR 0.09 (0.09) in the third quarter. The Comparable Earnings per share amounted to EUR 0.12 (0.09) in the third quarter. A reconciliation of Comparable EPS to IFRS figures is presented in Appendix 1 to ensure transparency. Financial items and result Q1–Q3 In January-September 2026 2026, other operating income amounted to EUR 6.9 (7.8) million, income from the sales of steam, energy and water of EUR 3.6 (3.2) million, EUR 0.5 (–) million gain on a contingent consideration from a prior disposal, gain on sale of assets amounting to EUR 0.4 (1.8) million and rental income of EUR 1.2 (1.0) million. Employee benefit expenses totalled EUR 78.4 (74.9) million in January-September 2026. Other operating expenses amounted to EUR 96.0 (89.0) million where the increase was due to items affecting comparability. Anora recorded additional depreciations EUR -1.8 million on the peat-boiler at the Koskenkorva distillery and a EUR -0.7 million on certain assets at the Brunna logistics center. Net financial expenses were EUR 10.2 (11.2) million and earnings per share amounted to EUR 0.07 (0.09) million in January-September 2026. The Comparable Earnings per share amounted to EUR 0.17 (0.09) million. A reconciliation of Comparable EPS to IFRS figures is presented in Appendix 1 to ensure transparency. Organic growth Organic growth is one of the key financial targets in Anora’s updated mid-term strategy. The target is to achieve organic growth above the market growth over the strategy period until the end of 2028. Anora began reporting this figure in its interim reports as of Q1/2026. Organic growth is presented as a new supplementary alternative performance measure allowing stakeholders to monitor Anora’s progress toward this goal. Market growth is measured from Nordic market sales volumes change. Organic growth shows net sales change from existing operations, excluding the impact of technical foreign currency translation effects from consolidating entities with different reporting currencies and the effects from business combinations, acquisitions and disposals or business restructuring. Organic growth definition and reconciliation to IFRS figures is presented in Appendix 1 to ensure transparency. Cash flow Net cash flow from operations totalled EUR -45.4 (-54.2) million in January-September 2026. The deviation in net cash flow from operations compared to last year was mainly explained by working capital effects related to different timing of certain trade and other payables compared to last year and partly due to lower net financial expenses. Net working capital amounted to EUR -12.3 (3.1) million where decrease was Interim Report | January–September 2026 | 30 October 2026 | 12
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mainly due to change in inventories that decreased to EUR 136.9 (151.2) million. The receivables sold amounted to EUR 95.8 (92.5) million at the end of the reporting period. The net cash flow from investing activities was EUR -13.6 (-9.6) million in January-September 2026. The gross capital expenditure amounted to EUR 13.4 (9.0) million in Q1–Q3, including the previously announced investment in a biomass-boiler for Koskenkorva distillery. The impact of gross investments was offset by gains on the sale of assets of 0.3 (–) and a contingent consideration received from prior disposal EUR 0.5 (–) million. During the reporting period Anora Group Plc continued to acquire remaining shares held by non- controlling owners of its subsidiaries, consistent with the previous year. Net cash flow from financing activities amounted to EUR -30.9 (-27.0) million in January-September 2026 driven by the refinancing completed in June, see Financing and balance sheet section for more details. Following the refinancing, proceeds from borrowings amounted to EUR 145.1 (1.3) million and repayment of borrowings of EUR -161.5 (-1.5) million in January-September 2026. The net change in commercial paper program amounted to EUR 12.8 (-1.6) million. The repayment of lease liabilities amounted to EUR -11.0 (-10.2) million and the dividends paid EUR -16.3 (-15.0) million remained in line with the previous year. Financing and balance sheet At the end of the reporting period, the Group’s net debt amounted to EUR 187.8 (Q3 25: 203.3; FY25: 101.5) million. Anora Group Plc signed a new financing agreement in June extending the Group's debt maturity profile and supporting its liquidity position and financial flexibility going forward. The new facility has a total commitment of EUR 260 million, comprising a EUR 120.0 million revolving credit facility and a EUR 140.0 million term loan, with a maturity of three years plus two optional one-year extension periods. The EUR 140.0 million term loan was drawn down on 30 June 2026 and used, together with available cash, to repay the previous EUR 160.0 million term loan in full. Transaction costs are capitalised and amortised in accordance with IFRS 9. The financial covenant — net debt to comparable EBITDA on a rolling 12-month basis — remains unchanged from the previous facility. The reported net debt to comparable EBITDA was 2.5 (Q3 25: 3.0; FY25: 1.4) times. Anora Group’s liquidity position remained strong throughout the period. Cash and cash equivalents totalled EUR 92.3 (Q3 25: 92.2; FY25: 182.6) million, while interest-bearing debt, including lease liabilities, amounted to EUR 290.4 (Q3 25: 295.5; FY25: 284.1) million. The Group has a revolving credit facility of EUR 120.0 (Q3 25 & FY25: 150.0) million, of which EUR 0.0 (Q3 25 & FY25: 0.0) million was in use at the end of the reporting period. The gearing ratio at the end of the reporting period was 48.5% (Q3 25; 51.9%; FY25: 25.8%), while the equity ratio was 40.1% (Q3 25: 39.7%; FY25: 38.1%). Balance sheet key figures Q1–Q3 2026 Q1–Q3 2025 2025 Reported net debt/comparable EBITDA 2.5 3.0 1.4 Borrowings, EUR million 173.1 183.8 176.9 Interest-bearing net debt, EUR million 187.8 203.3 101.5 Equity ratio, % 40.1 39.7 38.1 Gearing, % 48.5 51.9 25.8 Capital expenditure, EUR million 13.4 9.0 12.7 Total assets, EUR million 965.9 987.9 1,032.2 Interim Report | January–September 2026 | 30 October 2026 | 13
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Sustainability Anora's key ESG targets and figures PLANET 2030 target 2025 2024 Achieving fossil emissions free own operations by 2030 without compensations: Scope 1-2 fossil emissions (tCO2e) 0 12,677 13,547 Increasing the share of regeneratively farmed barley Regenerative share (%) 30 % 3.6 % 1.61 % Reducing wastewater by 20% compared to 2021 baseline Amount of wastewater (m3) 234,400 203,586 232,124 Change to baseline (%) -20 % -31 % -21 % Increasing recycling rate to 90% Recycling rate (%) 90 % 96.9 % 95.2 % Reducing landfill waste to zero Landfill waste (t) 0 0.1 0.1 PEOPLE Increasing the number of safety observations Number of safety observations per person 4.5 4.6 3.8 Reducing accidents resulting to absence to zero LTIF 0 5.1 5.8 Sustainability certificates and audits to cover 100% of risk countries % of audited or certified own-brand wine risk country suppliers 86 % - PRODUCT Increasing the amount of no- and low-alcohol (NoLo) products NoLo share from total net sales (%) 5 % 5.1 % 4.2 % By 2030 all our packages are light in weight, 100% recyclable and of materials from certified sources or from recycled origin Share of recycled material in glass bottles 44 % 49 % Share of recycled material in BiB 36 % 36 % Share of recycled material in plastic bottles 46 % 40 % Interim Report | January–September 2026 | 30 October 2026 | 14
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Key highlights in sustainability I n F e b r u a r y 2 0 2 6 , A n o r a w a s a w a r d e d t h e G o l d M e d a l i n E c o V a d i s ’ C o r p o r a t e S o c i a l R e s p o n s i b i l i t y R a t i n g f o r the sixth time in a row. The score of 82/100 (78/100) improved again on the previous year, and places Anora in the top 3% of all companies assessed by EcoVadis. Additionally, in January 2026, Anora received for the t h i r d t i m e i t s C D P r a t i n g s , s c o r e B f o r C l i m a t e ( B ) f o r c o o r d i n a t e d a c t i o n o n c l i m a t e i s s u e s a n d , f o r t h e second time, B for Water Security. In September 2026, Anora received a Sustainalytics ESG Risk Rating of 21.5 and was assessed by Morningstar Sustainalytics to be at Medium-risk level (20.7, Medium-risk in 2025). Anora's ESG management score remains at a strong level, reflecting policies and practices. The overall risk rating stayed at medium level, as Sustainalytics assessed the risk exposure from sub-industry and company-specific factors as slightly higher than before. In 2026 we continue our journey towards fossil-emissions free production in our own plants, without c o m p e n s a t i o n s . I n M a r c h 2 0 2 5 , A n o r a p u b l i s h e d a p r e s s r e l e a s e a b o u t i t s i n v e s t m e n t i n a n e w , s t a t e - o f - t h e - art biomass-boiler at its Koskenkorva Distillery in Finland in line with its strategy. This replacement investment will help the distillery to achieve its target of transitioning to fully fossil-emissions-free fuels (Scope 1-2) by the end of 2026, with the new boiler expected to be fully operational in Q4 2026, marking a s i g n i f i c a n t s t e p i n A n o r a ' s s u s t a i n a b i l i t y r o a d m a p . Personnel Anora Group employed 1,150 (1,232) persons at the end of the period and on average 1,175 (1,237) persons during January-September 2026. During Q3, Anora’s total sickness absence rate was 4.5 (4.8) percent and lost time injury frequency LTIF was 4.9 (5.1). Both KPIs are for our own employees; LTIF does not include commuting. Personnel by country at the end of the period 30 September 2026 30 September 2025 31 December 2025 Finland 405 430 405 Norway 324 346 342 Sweden 173 185 182 Denmark 146 162 155 Estonia 61 66 64 Latvia 31 31 31 Germany 3 6 5 Lithuania 7 6 6 Total 1,150 1,232 1,190 Interim Report | January–September 2026 | 30 October 2026 | 15
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Key events in Q1–Q3 2026 Changes in Anora’s Board of Directors The Annual General Meeting held on 14 April 2026 decided, in accordance with the proposal of the Shareholders’ Nomination Board, to elect Jonas Tåhlin as a new member of the Board of Directors of Anora Group Plc for a term ending at the conclusion of the next Annual General Meeting. Changes in Anora’s Executive Management Team In May 2026, Anna Möller joined Anora’s Executive Management Team as SVP, Wine, strengthening the leadership of the Wine segment and supporting the continued execution of the Fit, Fix, Focus programme. Composition of Anora’s Shareholders’ Nomination Board Anora published a stock exchange release on 25 August 2026 on the nomination of the following representatives to its Shareholders’ Nomination Board: Erling Astrup, Canica AS, Petter Söderström, Solidium Oy, and Anne Lise Ellingsen Gryte, Geveran Trading Co. Limited. In its organising meeting on 25 August 2026 the Nomination Board elected Erling Astrup as its Chairman. Atle Vidar Nagel Johansen, Chairperson of Anora’s Board of Directors, acts as an expert member in the Nomination Board. Interim Report | January–September 2026 | 30 October 2026 | 16
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Anora share Anora’s shares are listed on the Nasdaq Helsinki with the trading code “ANORA” and the ISIN code FI4000292438. All shares carry one vote and have equal voting rights. At the end of the reporting period, Anora Group Plc’s share capital amounted to EUR 61.5 million and the number of issued shares was 67,553,624. Share performance, Nasdaq Helsinki Closing price on the last day of trading, EUR 3.82 3.02 3.86 Highest price, EUR 4.56 3.63 3.93 Lowest price, EUR 3.15 2.68 2.68 Volume 9,695,010 9,818,157 13,668,544 Market capitalisation, EURm, end of period 257.7 203.7 260.4 Q1–Q3 2026 Q1–Q3 2025 2025 Largest shareholders on 30 September 2026 Shareholder Number of shares % of shares 1 Canica AS 15,142,926 22.4 2 Solidium Oy 13,097,481 19.4 3 Geveran Trading Co. Limited 3,117,150 4.6 4 Hoff SA 1,522,554 2.3 5 Varma Mutual Pension Insurance Company 1,481,240 2.2 6 Ilmarinen Mutual Pension Insurance Company 1,290,000 1.9 7 Weststar Oy 1,132,299 1.7 8 Elo Mutual Pension Insurance Company 949,000 1.4 9 Fidelity International (FIL) 936,705 1.4 10 Dimensional Fund Advisors 505,995 0.7 10 biggest owners in total 39,175,350 58.0 Nominee-registered shares 25,421,867 37.6 Total number of shares 67,553,624 100.0 Source: Modular Finance Interim Report | January–September 2026 | 30 October 2026 | 17
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Shareholders At the end of the period, Anora had 26,581 (30 September 2025: 27,633) registered shareholders in Euroclear Finland. The share of nominee-registered shares was 37.6% (30 September 2025: 36.5%). The chart provides an illustration of Anora’s ownership structure including the largest shareholders based on information provided to the company. In the Euroclear Finland data, the shareholdings of Canica AS and Geveran Trading Co. Limited are included in the nominee-registered shares. Flagging notifications The company received on 26 May 2026 a notification pursuant to Chapter 9, Section 5 of the Finnish Securities Markets Act ("SMA") from Caroline Marie Hagen Kjos. According to the notification, Caroline Marie Hagen Kjos assumed control of Tvist 1 AS and indirect control of Canica AS, a major shareholder of Anora. As a result, Caroline Marie Hagen Kjos' indirect holdings of Anora's shares and voting rights exceeded the threshold of 20 per cent on 25 May 2026. >>> Visit our website for updated information about the Anora share and shareholders: http:// www.anora.com/en/investors Short-term risks and uncertainties Anora’s short-term risks and uncertainties and the impacts thereof as well as risk management have been reported in the Report by the Board of Directors presented in the Annual Report of 2025. The Fit, Fix, Focus strategy entails material execution and market-related risks. Among these, execution capacity and organisational focus are considered to be the most critical risks in the near term. The scale and pace of initiatives place high demands on leadership and key functions. Failure to prioritise effectively, manage workloads or sustain momentum could delay value realisation and weaken organisational engagement. Pricing discipline, portfolio choices and the delivery of innovation are also critical execution risks. The strategy requires Anora to make clearer trade-offs, including exiting or deprioritising less impactful activities, and to focus resources on fewer, higher-impact initiatives. While strategically necessary, these choices involve inherent execution risk. In the longer term, Anora is exposed to structural changes in consumer behaviour, regulatory developments and channel dynamics, particularly in the Nordic markets. While largely outside the Group’s control, these factors underline the importance of portfolio flexibility, channel optionality and innovation speed embedded in the strategy. Growth-related risks primarily relate to the successful execution of organic growth initiatives across categories, channels and markets. Other significant short term risks and uncertainties relate to the overall economic development, impact of regulatory changes, the geopolitical and trade policy environment, disruptions in supply chains for example due to sabotage, price and availability of raw materials as well as cyber threats and emerging and developing technologies, including AI. In addition, the short-term risks may also relate to the integration of acquired businesses and related finance processes. Interim Report | January–September 2026 | 30 October 2026 | 18 22.4% 19.4% 4.6%26.6% 26.7% 0.2% Canica AS Solidium Oy Geveran Trading Co. Limited Households Other institutions Rest of the world
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Significant uncertainties relate to the overall economic development and its impacts on consumption, to the competitive environment, and to the effects on consumer behaviour due to potential and recently implemented regulatory changes in areas such as alcohol taxation, excise taxation and alcohol legislation. Changes to and a further liberalisation of alcohol legislation may result in sale of alcoholic beverages with higher ABV alcohol content outside the traditional monopolies and home and cross-border deliveries. For example, the recent amendments to Finland’s Alcohol Act allowing the sale of alcoholic beverages containing up to 8% ABV alcohol in grocery retail have impacted the sales in the Finnish alcohol monopoly negatively. In addition, the Finnish Parliament approved changes to the Finnish alcohol act in June 2026, allowing distance sales and home deliveries of alcoholic beverages. Any further liberalisation or changes in delivery methods would most likely increase competition in the Finnish market. The impact of such changes could potentially have an impact on Anora’s business. The increased inflation levels in Anora’s operating countries pose several risks and may lead to depressed consumer spending. Also wage inflation has gradually increased. Availability of funding, foreign exchange rates and interest rates may be affected significantly by the volatile situation on the global capital markets. Unexpected and unforeseen disruptions in the supply chain, production and deliveries are significant short-term risks related to operations, as well as sudden and significant changes in the prices of raw materials. Risks can be caused by internal or external events. The increasingly unstable geopolitical and trade policy environment could also negatively affect Anora’s business, profitability and operating environment. Significant risks and uncertainties relate to global supply chain disruptions with also threats to shipping routes, to the supply of grain, and to further price increases across all input costs. The risk of rising energy and fuel prices and volatility in production volumes and deliveries continue. Strikes and labour actions as well as availability and cost of raw materials, labour, energy and fuel may impact the operating environment and Anora’s business and profitability in the near future. Furthermore, Anora may face challenges in its ability to meet its financial targets as well as sustainability and other ESG targets, including the targets relating to greenhouse gas emissions. Cyber risk threat levels continue to be elevated and government authorities have warned of an increasing threat and number of cyber-attacks. Anora continuously improves its cyber security operations and technologies. It cannot be excluded that also Anora or its business partners could face cyber-attacks with potentially significant impacts on Anora’s business, profitability and operations. Forward looking statements Certain information herein other than historical facts contain “forward looking statements”. These forward looking statements relate to future events or future financial performance, including, but not limited to, strategic plans, potential growth, financial performance and targets, sustainability and other ESG targets, planned operational changes, expected capital expenditures, future cash sources and requirements, liquidity and cost savings that involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Anora Group or its businesses to be materially different from those expressed or implied. In some cases, such forward looking statements can be identified by terminology such as “may”, “will”, “could”, “would”, “should”, “expect”, “plan”, “anticipate”, “intend”, “believe”, “estimate”, “predict”, “potential”, or “continue”, or the negative of those terms or other comparable terminology. By their nature, forward looking statements are subject to change and involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Future results may vary from the results expressed in, or implied by, the forward looking statements, possibly to a material degree. All forward looking statements are based on information presently available to management and represent the current beliefs and assumptions of the management in light of the information currently available to them. Anora Group assumes no obligation to update any forward looking statements. Nothing herein constitutes investment advice and this material Interim Report | January–September 2026 | 30 October 2026 | 19
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shall constitute an offer to sell or the solicitation of an offer to buy any securities or otherwise to engage in any investment activity. Annual General Meeting and decisions by the Board Anora Group Plc’s Annual General Meeting (AGM) was held in Helsinki on 14 April 2026. The AGM adopted the financial statements and discharged the members of the Board of Directors and the CEO from liability for the financial year 2025. The AGM approved the proposal by the Board of Directors to pay a dividend of EUR 0.24 per share for the financial year 2025. The AGM also adopted the Remuneration Report. The AGM decided on the remuneration of the members of the Board of Directors elected by the AGM. The AGM approved the number of members of the Board of Directors elected by the AGM to be seven. In addition to the Board members elected by the AGM, Anora’s employees have, in accordance with the agreement on employee participation between Anora and the special negotiating body of the employees, elected one member and a deputy to the Board of Directors. The AGM re-elected PricewaterhouseCoopers Oy as the company’s auditor for a term that ends at the close of the next AGM. PricewaterhouseCoopers Oy was also selected as a sustainability auditor for the same term. The AGM authorised the Board of Directors to resolve on the repurchase of the company’s own shares. In addition, the AGM authorised the Board of Directors to resolve on the issuance of shares for the purposes of financing or carrying out corporate acquisitions or other arrangements as well as to resolve on the issuance of shares for remuneration purposes. Furthermore, the Annual General Meeting resolved on an amendment to the Charter of the Shareholders’ Nomination Board whereby only the Chairperson of the Board of Directors would serve as an expert member of the Nomination Board. Anora’s Board of Directors have elected the members of the Audit Committee and Human Resources Committees. The decisions of the AGM and the members of the Board Committees are presented in the stock exchange release published on 14 April 2026. Dividend payment The Annual General Meeting approved the proposal by the Board of Directors to pay a dividend of EUR 0.24 per share for the financial year 2025. The dividend was paid on 23 April 2026 to a shareholder registered in the shareholders’ register of the company held by Euroclear Finland Oy on the record date of the payment, i.e. 16 April 2026 . Events after the period Anora published a stock exchange release on 5 October 2026 about a final agreement made with Bacardi, the world’s largest privately held international spirits company, concerning a strategic distribution agreement in Sweden and Norway. Under the agreement, Anora will become the exclusive distributor of the Bacardi portfolio in all channels in Sweden and Norway, except for ready-to-drink beverages in Norway. The distribution agreement has an initial term until the end of Q1 2031. The annualised financial impact of the distribution agreement for Anora is estimated at approximately EUR 25-30 million in net sales. Up to EUR 5 million is estimated to be recognised as net sales during the fourth quarter of 2026. The expected impact on profitability will be on the level customary to partner agreements. Interim Report | January–September 2026 | 30 October 2026 | 20
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Outlook for 2026 Market outlook The alcoholic beverage consumption in Anora’s key markets is expected to remain structurally challenged, with industry data and consumer trends indicating continued volume pressure through 2026 and beyond. Guidance (unchanged) In 2026, Anora’s comparable EBITDA is expected to be EUR 74-79 million (2025: EUR 71.1 million). Contacts Milena Hæggström, Director, Investor Relations tel. +358 40 5581 328 milena.haeggstrom@anora.com Conference call CEO Kirsi Puntila and CFO Stein Eriksen will present the report in a conference call on 30 October 2026 at 11:00 am EEST. Link The presentation will be held as a Microsoft Teams Meeting. We recommend that participants join the event using the online meeting option: Join meeting here. It is also possible to dial-in to the meeting about 5 minutes earlier at the following numbers: FI: +358 9 2310 6678 NO: +47 21 40 41 04 SE: +46 8 502 428 54 DK: + 45 32 72 56 80 UK: +44 20 7660 8309 US: +1 917-781-4622 Conference ID 503 896 479# Q&A Questions to the management can be sent through the Teams chat. Presentation material The presentation material will be shared in the online meeting and it can be downloaded on Anora’s website at: www.anora.com/investors On-demand recording A recording of the presentation will be available on Anora’s website. Financial calendar 16 February 2027: Financial Statement Release for January-December 2026 Interim Report | January–September 2026 | 30 October 2026 | 21
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Condensed Interim Financial Statements and notes Consolidated income statement EUR million Q3 26 Q3 25 Q1–Q3 26 Q1–Q3 25 2025 Net sales 157.5 156.7 453.8 463.6 657.9 Other operating income 2.8 2.0 6.9 7.8 11.9 Materials and services -85.2 -89.9 -247.2 -267.1 -377.9 Employee benefit expenses -25.2 -22.9 -78.4 -74.9 -105.2 Other operating expenses -29.8 -27.9 -96.0 -89.0 -125.2 Impairment losses – – – – -10.5 Depreciation and amortisation -9.4 -6.6 -22.9 -20.2 -27.2 Operating result 10.7 11.4 16.1 20.2 23.8 Finance income 2.2 2.0 6.1 8.0 10.4 Finance expenses -5.3 -5.5 -16.3 -19.2 -25.2 Share of profit in associates -0.1 -0.2 -0.2 -0.7 -1.1 Result before taxes 7.6 7.7 5.7 8.4 8.0 Income taxes -1.7 -1.5 -1.1 -2.2 -2.4 Result for the period 5.9 6.2 4.6 6.2 5.7 Result for the period attributable to: Owners of the parent 5.9 6.2 4.5 6.1 5.5 Non-controlling interests 0.0 0.1 0.1 0.1 0.1 Earnings per share for the result attributable to owners of the parent, EUR Basic 0.09 0.09 0.07 0.09 0.08 Diluted 0.08 0.09 0.06 0.09 0.08 Interim Report | January–September 2026 | 30 October 2026 | 22
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Consolidated statement of comprehensive income EUR million Q3 26 Q3 25 Q1–Q3 26 Q1–Q3 25 2025 Result for the period 5.9 6.2 4.6 6.2 5.7 Other comprehensive income Items that will not be reclassified to profit or loss Remeasurements of post-employment benefit obligations – – – – – Related income tax – – – – – Total – – – – – Items that may be reclassified to profit or loss Cash flow hedges 1.5 0.6 5.6 -2.6 -2.6 Translation differences 0.9 1.6 1.7 4.4 6.0 Income tax related to these items -0.3 -0.1 -1.1 0.5 0.5 Total 2.1 2.1 6.1 2.4 3.9 Other comprehensive income for the period, net of tax 2.1 2.1 6.1 2.4 3.9 Total comprehensive income for the period 8.0 8.3 10.7 8.6 9.5 Total comprehensive income attributable to: Owners of the parent 8.0 8.3 10.6 8.5 9.4 Non-controlling interests 0.0 0.0 0.1 0.1 0.1 Interim Report | January–September 2026 | 30 October 2026 | 23
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Consolidated balance sheet EUR million 30 Sep 2026 30 Sep 2025 31 Dec 2025 Assets Non-current assets Goodwill 303.9 302.4 303.8 Other intangible assets 178.4 189.7 176.3 Property, plant and equipment 68.6 64.2 65.0 Right-of-use assets 52.6 55.3 53.6 Investments in associates 10.3 11.0 10.5 Other non-current assets 2.3 2.3 2.2 Total non-current assets 616.2 624.9 611.4 Current assets Inventories 136.9 151.2 112.5 Trade receivables and other current assets 120.6 119.6 125.8 Cash and cash equivalents 92.3 92.2 182.6 Total current assets 349.7 363.0 420.8 Total assets 965.9 987.9 1,032.2 Equity and liabilities Equity attributable to owners of the parent Share capital 61.5 61.5 61.5 Invested unrestricted equity fund 336.8 336.8 336.8 Hedge reserve 2.8 -1.6 -1.7 Translation differences -43.2 -46.4 -44.9 Retained earnings 29.4 41.5 41.0 Equity attributable to owners of the parent 387.2 391.7 392.7 Non-controlling interests 0.1 0.3 0.3 Total equity 387.3 392.0 393.0 Non-current liabilities Deferred tax liabilities 32.6 35.0 32.7 Borrowings 146.9 163.3 163.5 Lease liabilities 92.4 98.0 93.2 Other non-current liabilities 2.9 2.6 2.6 Total non-current liabilities 274.8 299.0 292.0 Current liabilities Borrowings 26.3 20.4 13.4 Lease liabilities 14.5 13.7 14.0 Trade payables and other current liabilities 263.0 262.7 319.9 Total current liabilities 303.8 296.8 347.3 Total liabilities 578.6 595.8 639.2 Total equity and liabilities 965.9 987.9 1,032.2 Interim Report | January–September 2026 | 30 October 2026 | 24
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Consolidated statement of cash flows EUR million Q3 26 Q3 25 Q1–Q3 26 Q1–Q3 25 2025 Cash flow from operating activities Result before taxes 7.6 7.7 5.7 8.4 8.0 Adjustments Depreciation, amortisation and impairment 9.4 6.6 22.9 20.2 37.6 Share of profit in associates 0.1 0.2 0.2 0.7 1.1 Net gain on sale of non-current assets -0.9 – -0.9 -1.8 -2.9 Finance income and costs 3.1 3.5 10.2 11.2 14.7 Other adjustments 0.1 0.3 0.0 2.0 2.5 Adjustments total 11.7 10.6 32.4 32.3 53.0 Change in working capital Change in inventories, increase (-) / decrease (+) -4.2 -4.5 -24.0 -10.7 28.2 Change in trade and other receivables, increase (-) / decrease (+) 11.1 6.1 11.1 4.9 -5.8 Change in trade and other payables, increase (+) / decrease (-) -27.9 -15.5 -56.2 -70.7 -15.2 Change in working capital -21.0 -13.9 -69.2 -76.5 7.2 Interest paid -4.5 -4.5 -10.8 -13.4 -18.0 Interest received 2.9 1.7 5.4 4.5 6.0 Other finance income and expenses paid -1.7 -0.7 -5.3 -3.0 -3.4 Income taxes paid -0.5 -1.7 -3.8 -6.4 -2.6 Financial items and taxes -3.9 -5.2 -14.4 -18.3 -18.0 Net cash flow from operating activities -5.6 -0.8 -45.4 -54.2 50.3 Cash flow from/ used in investing activities Capital expenditure on tangible and intangible assets -2.2 -2.7 -13.4 -9.0 -12.7 Proceeds from sale of tangible and intangible assets 0.1 – 0.3 – 0.3 Proceeds from disposals of subsidiaries, business operations and investments in joint arrangements (net of cash) 0.5 – 0.5 – – Acquisitions of subsidiaries and business operations – – -1.1 -0.6 -0.8 Other investments and loans granted – – – – – Cash flow from other investments – – – – – Net cash flow from/ used in investing activities -1.7 -2.7 -13.6 -9.6 -13.2 Cash flow from/ used in financing activities Changes in commercial paper program 0.1 -28.0 12.8 -1.6 -8.0 Proceeds from borrowings – 1.3 145.1 1.3 1.4 Repayment of borrowings -0.8 -0.8 -161.5 -1.5 -1.5 Repayment of lease liabilities -3.7 -4.0 -11.0 -10.2 -13.6 Dividends paid and other distributions of profits – -0.1 -16.3 -15.0 -15.0 Net cash flow from/ used in financing activities -4.3 -31.6 -30.9 -27.0 -36.8 Change in cash and cash equivalents -11.6 -35.0 -90.0 -90.8 0.3 Cash and cash equivalents at the beginning of the period 103.9 126.7 182.6 181.5 181.5 Translation differences on cash and cash equivalents -0.1 0.5 -0.3 1.5 0.8 Change in cash and cash equivalents -11.6 -35.0 -90.0 -90.8 0.3 Cash and cash equivalents at the end of the period 92.3 92.2 92.3 92.2 182.6 Interim Report | January–September 2026 | 30 October 2026 | 25
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Consolidated statement of changes in equity EUR million Share capital Invested unrestricted equity fund Hedge reserve Translation differences Retained earnings Equity attributable to owners of the parent company Non- controlling interests Total equity Equity at 1 January 2025 61.5 336.8 0.4 -50.8 50.1 397.9 0.9 398.7 Total comprehensive income Result for the period – – – – 6.1 6.1 0.1 6.2 Other comprehensive income (net of tax) Cash flow hedges – – -2.0 – – -2.0 – -2.0 Translation differences – – – 4.4 – 4.4 – 4.4 Total comprehensive income for the period – – -2.0 4.4 6.1 8.5 0.1 8.6 Transactions with owners Dividend distribution – – – – -14.9 -14.9 -0.1 -15.0 Share based payment – – – – 0.3 0.3 – 0.3 Changes in non-controlling interests – – – – -0.1 -0.1 -0.5 -0.6 Total transactions with owners – – – – -14.7 -14.7 -0.6 -15.3 Equity at 30 September 2025 61.5 336.8 -1.6 -46.4 41.5 391.7 0.3 392.0 Equity at 1 January 2026 61.5 336.8 -1.7 -44.9 41.0 392.7 0.3 393.0 Total comprehensive income Result for the period – – – – 4.5 4.5 0.1 4.6 Other comprehensive income (net of tax) Cash flow hedges – – 4.4 – – 4.4 – 4.4 Translation differences – – – 1.7 – 1.7 – 1.7 Total comprehensive income for the period – – 4.4 1.7 4.5 10.6 0.1 10.7 Transactions with owners Dividend distribution – – – – -16.2 -16.2 -0.1 -16.3 Share-based payments – – – – 0.4 0.4 – 0.4 Changes in non-controlling interests – – – – -0.3 -0.3 -0.2 -0.6 Total transactions with owners – – – – -16.1 -16.1 -0.3 -16.4 Equity at 30 September 2026 61.5 336.8 2.8 -43.2 29.4 387.2 0.1 387.3 Interim Report | January–September 2026 | 30 October 2026 | 26
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Notes to the Condensed Interim Financial Statements General information Anora Group Plc, the parent company of Anora Group, is domiciled in Helsinki, Finland. Anora Group Plc is a Finnish publicly listed company. Anora’s shares are listed in Nasdaq Helsinki. The registered address of the Company is Kaapeliaukio 1, FI-00180 Helsinki, Finland. Anora Group Plc ('company', 'parent company'), a public limited liability company, and its subsidiaries (together 'Anora Group', 'Anora' or 'Group') is a leading wine and spirits brand house in the Nordic region. Anora has a broad portfolio of iconic brands, including Koskenkorva, Blossa, Linie, Aalborg, Chill Out, Ruby Zin, Wongraven, O.P. Anderson and Falling Feather. Key brands are exported to over 30 markets globally. Together with partners Anora brings the world of quality drinks to the Nordics. Anora has a strong partner portfolio which include several well-known wine producers from all over the world, as well as spirits producers with well-known spirits brands, like Amarula, Fireball, Fernet Branca, Jose Cuervo, Underberg and Xanté. Anora’s business operations also include world-class industrial operations in distillation, bottling and logistics services as well as the production of technical ethanol products, neutral potable ethanol, feed components and barley starch. Accounting principles The Interim Report for the nine months ending 30 September 2026 have been prepared in accordance with the IAS 34 Interim Financial Reporting as approved by the EU. This Condensed Interim Financial Statements does not include all of the disclosures normally included in annual consolidated financial statements. Accordingly, this Condensed Interim Financial Statements should be read in conjunction with the Anora Group Oyj consolidated financial statements for the year ended 31 December 2025 and any public announcements made by Anora Group Oyj during the interim reporting period. Anora Group Plc has applied new standards and interpretations published by IASB that are effective for the first time for financial reporting periods commencing on 1 January 2026. These standards did not have a material impact on the consolidated financial statements. Except for the above, the accounting policies applied in the preparations of these condensed consolidated interim financial statements are consistent with those followed in the preparation of the Group’s annual consolidated financial statements for the year ended 31 December 2025. All the figures have been rounded and consequently the sum of individual figures can deviate from the presented aggregate figures. This interim report is unaudited. Key exchange rates in Euros Q1–Q3 26 Average rate 30 Sep 2026 Q1–Q3 25 Average rate 30 Sep 2025 2025 Average rate 31 Dec 2025 End rate End rate End rate Norwegian krone NOK 11.0915 10.9015 11.7088 11.7265 11.7189 11.8430 Swedish krona SEK 10.8972 11.3310 11.1063 11.0565 11.0682 10.8215 Danish krone DKK 7.4732 7.4755 7.4616 7.4649 7.4634 7.4689 Critical accounting estimates The preparation of the financial statements in accordance with IFRS requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Although these estimates are based on management's best knowledge of current events and actions, actual results may differ from the estimates. For Anora Group Oyj, the most significant judgements, estimates, and assumptions made by the management relate to, for example, revenue recognition, impairment testing, valuation of inventories, determining the useful lives for intangible and tangible assets, and regarding Right-of-use assets on determining the discount Interim Report | January–September 2026 | 30 October 2026 | 27
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rates and use of any possible extension options. In addition, assessing the recoverability of investments in associates requires the use of estimates. Compared to the annual consolidated financial statements for the year ended 31 December 2025 there have been no significant changes in the assumptions or estimates included in the estimates requiring management’s judgement. Seasonality The substantial seasonal fluctuations are described in the management commentary Business Review section. Calculation of alternative performance measures Anora Group uses alternative performance measures (APMs) to provide additional insight into the Group’s business performance and profitability, supplementing the figures reported under IFRS. In addition to previously reported Comparable APMs, such as Comparable EBITDA, Comparable EBIT, and Comparable EPS, Anora Group has added a new APM Organic growth. Organic growth is defined as the change in net sales excluding the impacts of acquisitions, disposals, and technical translation effects of foreign currencies. The Comparable APMs are calculated by adding or deducting Items Affecting Comparability (IAC) from IFRS figures or key ratios. Anora Group follows the guidance on alternative performance measures issued by the European Securities and Market Authority (ESMA) ensuring that all APMs are presented transparently and consistently to facilitate comparability and understanding for investors and other stakeholders. In addition to alternative performance measures, the Group releases other commonly used key ratios mainly derived from the statement of comprehensive income and consolidated balance sheet. Key ratios, APMs, their definitions and reason for use including the reconciliation of APMs to IFRS figures is presented in Appendix 1. Key events during the period Changes in group structure There has been no significant changes in the Group structure during the period. Transactions with non- controlling owners are described in the management commentary Financial review section. Outsourcing of logistics services in Sweden In March 2026 the Group signed an agreement to outsource its logistics services in Sweden to Nowaste Logistics AB. Anora’s logistics and warehouse centre in Brunna has distributed Anora’s own and partner products across Sweden. In addition, Anora has provided warehousing services to other beverage businesses. Anora has operated from leased premises in Brunna and due to the sale of the building, Anora’s lease agreement was terminated. Nowaste Logistics will take over the warehousing and distribution of Anora’s products during the first quarter of 2027. Consequently, Anora will discontinue its current logistics and warehousing operations at its logistics centre in Brunna once the transition process to Nowaste has been completed. The change will have a limited overall financial impact on Anora Group. Changes in organisation and Corporate Governance The Annual General Meeting held on 14 April 2026 decided to elect Jonas Tåhlin as a new member of the Board of Directors of Anora Group Plc. In May 2026, Anna Möller joined Anora’s Executive Management Team as SVP, Wine. Refinancing of credit facilities On 16 June 2026, Anora Group Plc signed a new financing agreement. The refinancing extends the Group's debt maturity profile and supports its liquidity position and financial flexibility going forward. The new facility Interim Report | January–September 2026 | 30 October 2026 | 28
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has a total commitment of EUR 260 million, comprising a EUR 120.0 million revolving credit facility (RCF) and a EUR 140.0 million term loan, with a maturity of three years plus two optional one-year extension periods. The new EUR 140.0 million term loan was drawn down on 30 June 2026, and used, together with available cash, to repay the existing EUR 160.0 million term loan in full on the same date. Transaction costs associated with the new facility, are capitalised and amortised over the term of the agreement in accordance with IFRS 9. The financial covenant applicable under the new agreement remains unchanged from the previous facility. The key covenant is net debt to comparable EBITDA, calculated on a rolling 12-month basis, consistent with the alternative performance measure reported by the Group. In addition, eventual acquisitions and disposals are adjusted on a pro forma basis. The covenant calculation is subject to a frozen GAAP principle, meaning that the accounting standards applied in calculating covenant compliance are consistent with the 2025 consolidated financial statements. Accordingly, the forthcoming mandatory adoption of IFRS 18 Presentation and Disclosure in Financial Statements, effective 1 January 2027, which is expected to affect the classification and presentation of items such as costs related to the sold receivables within the Group's income statement and consequently its reported EBITDA, will not impact the covenant calculation under the new facility. Events after the period Bacardi distribution agreement On 5 October 2026, Anora announced a strategic distribution agreement with Bacardi, making Anora the exclusive distributor of the Bacardi portfolio in all channels in Sweden and Norway (excluding ready-to- drink beverages in Norway) as described in the management commentary Events after the period section. Interim Report | January–September 2026 | 30 October 2026 | 29
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Segment information The reportable segments of Anora in these consolidated financial statements consist of Wine, Spirits, and Industrial. The reportable segments are described in the management commentary Business Review section. The principles on the segment reporting are described in the Group’s annual consolidated financial statements for the year ended 31 December 2025. External net sales by segment EUR million Q3 26 Q2 26 Q1 26 Q4 25 Q3 25 Wine 66.3 68.1 57.6 90.9 70.3 Spirits 50.1 52.8 42.0 65.8 50.8 Industrial 41.1 39.6 36.2 37.6 35.6 Total 157.5 160.5 135.8 194.3 156.7 Comparable EBITDA by segment EUR million Q3 26 Q2 26 Q1 26 Q4 25 Q3 25 Wine 3.8 0.9 1.0 13.0 3.5 Spirits 9.5 10.5 6.1 15.3 9.3 Industrial 7.2 6.3 3.3 5.1 5.8 Group allocation -0.3 -1.7 -1.5 -2.3 -0.7 Total comparable EBITDA 20.2 16.0 8.8 31.1 18.0 A reconciliation of alternative performance measures to IFRS figures is presented in Appendix 1. Segments Q3 2026 EUR million Wine Spirits Industrial Group and allocations Eliminations Group Net sales external 66.3 50.1 41.1 – – 157.5 Net sales internal – – 23.3 – -23.3 – Total Net Sales 66.3 50.1 64.4 – -23.3 157.5 Other operating income external 0.1 – 2.2 0.5 – 2.8 Other operating income internal – – 3.7 8.4 -12.1 – Total Other operating income 0.1 – 5.9 8.9 -12.1 2.8 Costs of goods sold -45.3 -25.8 -37.4 – 23.3 -85.2 Gross profit 21.1 24.3 32.9 8.9 -12.1 75.1 Other operating expenses -17.2 -14.8 -25.6 -9.5 12.1 -55.0 EBITDA 3.9 9.5 7.3 -0.6 – 20.1 Items affecting comparability -0.1 – -0.1 0.4 – 0.1 Comparable EBITDA 3.8 9.5 7.2 -0.3 – 20.2 EBITDA 20.1 Depreciation, amortisation and impairment -9.4 Operating result 10.7 Gross margin % 31.8 % 48.5 % 51.1 % 47.7 % Comparable EBITDA % 5.8 % 18.9 % 11.1 % 12.8 % Interim Report | January–September 2026 | 30 October 2026 | 30
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Segments Q3 2025 EUR million Wines Spirits Industrial Group and allocations Eliminations Group Net sales external 70.3 50.8 35.6 – – 156.7 Net sales internal – – 24.4 – -24.4 – Total Net Sales 70.3 50.8 59.9 – -24.4 156.7 Other operating income external 0.2 – 1.7 – – 2.0 Other operating income internal – – 3.5 7.8 -11.3 – Total Other operating income 0.2 – 5.2 7.8 -11.3 2.0 Costs of goods sold -50.2 -27.5 -36.6 – 24.4 -89.9 Gross profit 20.4 23.4 28.5 7.8 -11.3 68.8 Other operating expenses -16.9 -14.1 -22.7 -8.4 11.3 -50.8 EBITDA 3.5 9.3 5.8 -0.6 – 18.0 Items affecting comparability – – – -0.1 – -0.1 Comparable EBITDA 3.5 9.3 5.8 -0.7 – 18.0 EBITDA 18.0 Depreciation, amortisation and impairment -6.6 Operating result 11.4 Gross margin % 29.0 % 46.0 % 47.5 % 43.9 % Comparable EBITDA % 4.9 % 18.3 % 9.7 % 11.5 % Segments Q1–Q3 2026 EUR million Wines Spirits Industrial Group and allocations Eliminations Group Net sales external 191.9 144.8 117.0 – – 453.8 Net sales internal – – 61.1 – -61.1 – Total Net Sales 191.9 144.8 178.1 – -61.1 453.8 Other operating income external 0.3 – 6.1 0.5 – 6.9 Other operating income internal – – 11.2 24.8 -36.0 – Total Other operating income 0.3 – 17.3 25.4 -36.0 6.9 Costs of goods sold -132.3 -75.6 -100.4 – 61.1 -247.2 Gross profit 59.9 69.3 94.9 25.4 -36.0 213.4 Other operating expenses -53.5 -43.2 -78.2 -35.4 36.0 -174.4 EBITDA 6.3 26.1 16.7 -10.1 – 39.1 Items affecting comparability -0.6 – – 6.6 – 6.0 Comparable EBITDA 5.8 26.1 16.7 -3.5 – 45.0 EBITDA 39.1 Depreciation, amortisation and impairment -22.9 Operating result 16.1 Gross margin % 31.2 % 47.8 % 53.3 % 47.0 % Comparable EBITDA % 3.0 % 18.0 % 9.4 % 9.9 % Interim Report | January–September 2026 | 30 October 2026 | 31
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Segments Q1–Q3 2025 EUR million Wines Spirits Industrial Group and allocations Eliminations Group Net sales external 210.2 149.3 104.1 – – 463.6 Net sales internal – – 64.3 – -64.3 – Total Net Sales 210.2 149.3 168.4 – -64.3 463.6 Other operating income external 0.8 0.1 6.9 0.1 – 7.8 Other operating income internal – – 10.4 23.6 -33.9 – Total Other operating income 0.8 0.1 17.2 23.7 -33.9 7.8 Costs of goods sold -150.1 -81.3 -100.0 – 64.3 -267.1 Gross profit 60.9 68.0 85.6 23.7 -33.9 204.3 Other operating expenses -55.7 -43.0 -71.1 -28.1 33.9 -163.9 EBITDA 5.3 25.0 14.5 -4.4 – 40.4 Items affecting comparability 0.4 0.1 -1.7 0.8 – -0.4 Comparable EBITDA 5.6 25.1 12.9 -3.6 – 40.0 EBITDA 40.4 Depreciation, amortisation and impairment -20.2 Operating result 20.2 Gross margin % 29.0 % 45.6 % 50.8 % 44.1 % Comparable EBITDA % 2.7 % 16.8 % 7.6 % 8.6 % Interim Report | January–September 2026 | 30 October 2026 | 32
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Intangible and tangible assets Goodwill EUR million 30 Sep 2026 30 Sep 2025 31 Dec 2025 Net carrying amount at 1 January 303.8 299.1 299.1 Effect of movement in exchange rates 0.1 3.3 4.7 Net carrying amount at 30 September 303.9 302.4 303.8 Other intangible assets EUR million 30 Sep 2026 30 Sep 2025 31 Dec 2025 Net carrying amount at 1 January 176.3 194.1 194.1 Additions 1.8 2.4 3.3 Disposals – – -0.2 Impairment – – -10.5 Amortisation -7.4 -7.3 -10.0 Effect of movement in exchange rates 7.7 0.6 -0.3 Net carrying amount at 30 September 178.4 189.7 176.3 As a result of its annual impairment testing of trademarks at the end of 2025, Anora recorded EUR 10.5 million in impairments for three Spirits trademarks whose recoverable amounts fell below carrying values. Property, plant and equipment EUR million 30 Sep 2026 30 Sep 2025 31 Dec 2025 Net carrying amount at 1 January 65.0 63.2 63.2 Additions 12.1 6.9 9.8 Disposals -0.6 -0.3 -0.4 Depreciation -8.2 -5.7 -7.7 Effect of movement in exchange rates 0.4 0.1 0.1 Net carrying amount at 30 September 68.6 64.2 65.0 Additions during the reporting period include ongoing construction of the previously announced new biomass-boiler for Koskenkorva Distillery in Finland, also described in management commentary Key Sustainability Highlights section. Additional depreciations during the period include EUR -1.8 million related to the peat-boiler that is being replaced by biomass-boiler at the Koskenkorva distillery and EUR -0.7 million related to certain assets at the Brunna logistics center that will be scrapped after outsourcing of the logistics and warehouse operations as described in Key Events during the period section. Updated estimates of the remaining period of intended use indicated possible impairment on these assets, triggering a revision of useful lives and resulting in accelerated depreciation charges. In addition, certain assets of the Brunna logistics center were sold and a gain on sale of EUR 0.4 million was recorded from the sale. Interim Report | January–September 2026 | 30 October 2026 | 33
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Leases Right-of-use assets EUR million 30 Sep 2026 30 Sep 2025 31 Dec 2025 Net carrying amount at 1 January 53.6 59.0 59.0 Additions 4.0 3.1 5.2 Disposals – -0.1 -1.4 Depreciation -7.3 -7.1 -9.5 Effect of movement in exchange rates 2.3 0.4 0.2 Net carrying amount at 30 September 52.6 55.3 53.6 Related Party Transactions The definition and principles on related parties are described in the Group’s annual consolidated financial statements for the year ended 31 December 2025. The following transactions have taken place with related parties: EUR million 30 Sep 2026 30 Sep 2025 31 Dec 2025 Sales of goods and services Finnish government related entity 48.7 53.9 75.3 Total sales of goods and services 48.7 53.9 75.3 Purchases of goods and services Associated companies 1.3 1.2 1.7 Shareholder 1.1 0.9 1.1 Finnish government related entity 0.7 0.9 1.2 Total purchases of goods and services 3.2 3.0 4.1 Outstanding balances from sales and purchases of goods and services Receivables Finnish government related entity 4.4 2.9 3.9 Total receivables 4.4 2.9 3.9 Payables Associated companies 0.1 – 0.2 Shareholder 0.3 0.1 – Finnish government related entity – 0.1 0.1 Total payables 0.4 0.2 0.3 Loans granted Associated companies 0.2 0.1 0.2 Total loans granted 0.2 0.1 0.2 Interim Report | January–September 2026 | 30 October 2026 | 34
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Collaterals, Commitments and Contingent Assets and Liabilities Collaterals and securites 30 Sep 2026 30 Sep 2025 31 Dec 2025 EUR million Debt in the statement of financial position Security Debt in the statement of financial position Security Debt in the statement of financial position Security Guarantees given as collateral for liabilities Guarantees 2.3 2.3 3.8 3.8 3.8 3.8 Collaterals 6.5 6.4 1.3 1.3 1.4 1.4 Mortgages given as collateral for liabilities and commitments Mortgages 18.5 18.5 18.5 Guarantees and contingent liabilities Collaterals given on behalf of the Group companies or Company itself 10.4 12.2 12.3 Total collaterals 37.6 35.7 36.0 Off-balance sheet commitments and other contractual obligations The short-term and low value lease obligations are future minimum lease payments under non- cancellable off-balance sheet leases. Leases not yet commenced are non-cancellable leasing contracts where the underlying asset is not yet available for use. EUR million 30 Sep 2026 30 Sep 2025 31 Dec 2025 Short-term and low value lease obligations Less than one year 0.2 0.3 0.2 Between one and five years 0.3 0.1 0.1 Total short-term and low value lease obligations 0.5 0.4 0.4 Leases not yet commenced, but to which Anora is committed 1.9 – 1.9 Total lease obligations 2.4 0.4 2.2 Commitments related to acquisition of tangible and intangible assets 7.3 8.1 9.9 Other contractual obligations 21.1 7.7 7.9 Total commitments 30.8 16.2 20.0 Of the investment commitments EUR 4.2 million relate to the biomass-boiler investment in Koskenkorva Distillery in Finland, which has been described in management commentary Key Sustainability Highlights section. Other contractual obligations amounting to EUR 21.1 million consist of volume commitment and other contractual commitments. Assets not recognised in the balance sheet - Emission allowances million tons 30 Sep 2026 30 Sep 2025 31 Dec 2025 Emission allowances received 12.8 22.6 22.6 Excess emission allowances from the previous period 6.7 8.2 8.2 Sold emission allowances – – -10.0 Realised emissions -14.0 -10.6 -14.1 Total emission allowances 5.6 20.2 6.7 Fair value of emission allowances (EUR million) 0.4 1.3 0.5 Interim Report | January–September 2026 | 30 October 2026 | 35
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An insurance claim relating to the acquisition of Globus Wine Anora has filed a claim with the Insurer during Q2 2023 under the warranties and indemnity insurance policy taken in connection with the acquisition of Globus Wine. In June 2025, Anora initiated arbitration proceedings against the Insurer. It is not possible to estimate the outcome of the arbitration. Anora still considers that it has a contingent asset in the form of a potential insurance compensation. Interim Report | January–September 2026 | 30 October 2026 | 36
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Appendix 1 Key ratios Income statement Net sales EUR million 157.5 156.7 453.8 463.6 657.9 Comparable EBITDA EUR million 20.2 18.0 45.0 40.0 71.1 (% of net sales) % 12.8 11.5 9.9 8.6 10.8 Comparable EBITDA growth % 12.5 13.1 12.7 -0.1 3.2 EBITDA EUR million 20.1 18.0 39.1 40.4 61.5 Comparable operating result (EBIT) EUR million 13.3 11.3 24.6 19.8 43.9 (% of net sales) % 8.5 7.2 5.4 4.3 6.7 Operating result EUR million 10.7 11.4 16.1 20.2 23.8 Result before taxes EUR million 7.6 7.7 5.7 8.4 8.0 Result for the period EUR million 5.9 6.2 4.6 6.2 5.7 Items affecting comparability (EBITDA) EUR million -0.1 0.1 -6.0 0.4 -9.6 Items affecting comparability (EBIT) EUR million -2.6 0.1 -8.5 0.4 -20.1 Items affecting comparability (Result for the period) EUR million -2.1 – -6.8 0.3 -16.5 Balance sheet Cash and cash equivalents EUR million 92.3 92.2 92.3 92.2 182.6 Total equity EUR million 387.3 392.0 387.3 392.0 393.0 Non-controlling interest EUR million 0.1 0.3 0.1 0.3 0.3 Borrowings EUR million 173.1 183.8 173.1 183.8 176.9 Invested capital EUR million 560.4 575.8 560.4 575.8 569.9 Profitability Return on equity (ROE), rolling 12 months % 1.0 3.7 1.4 Return on invested capital (ROI), rolling 12 months % 3.3 5.9 4.1 Financing and financial position Net debt EUR million 187.8 203.3 187.8 203.3 101.5 Gearing % 48.5 51.9 48.5 51.9 25.8 Equity ratio % 40.1 39.7 40.1 39.7 38.1 Net cash flow from operating activities EUR million -5.6 -0.8 -45.4 -54.2 50.3 Net debt/comparable EBITDA, rolling 12 months 2.5 3.0 2.5 3.0 1.4 Share-based key ratios Earnings / share (Basic) EUR 0.09 0.09 0.07 0.09 0.08 Earnings / share (Diluted) EUR 0.08 0.09 0.06 0.09 0.08 Comparable earnings / share EUR 0.12 0.09 0.17 0.09 0.33 Equity / share EUR 5.73 5.80 5.73 5.80 5.82 Number of shares outstanding at the end of period pcs 67,553,624 67,553,624 67,553,624 67,553,624 67,553,624 Personnel Personnel end of period 1,150 1,232 1,150 1,232 1,190 Average number of personnel 1,165 1,244 1,175 1,237 1,229 Q3 26 Q3 25 Q1–Q3 26 Q1–Q3 25 2025 Interim Report | January–September 2026 | 30 October 2026 | 37
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Reconciliation of alternative performance measures (APM) to IFRS figures EUR million Q3 26 Q3 25 Q1–Q3 26 Q1–Q3 25 2025 Items affecting comparability Net gains or losses from business and assets disposals 0.5 – 0.5 1.8 2.8 Cost for closure of business operations and restructurings 0.3 -0.1 0.4 -0.8 -8.7 Additional inventory impairment – – 0.2 – – Other major corporate projects -0.9 0.2 -7.0 -0.5 -3.6 Total items affecting comparability in EBITDA -0.1 0.1 -6.0 0.4 -9.6 Cost for closure of business operations and restructurings -0.7 – -0.7 – – Impairment losses and changes in useful lives -1.8 – -1.8 – -10.5 Total items affecting comparability in EBIT -2.6 0.1 -8.5 0.4 -20.1 Impairment losses on net investment in associated companies – – – – -0.6 Total items affecting comparability -2.6 0.1 -8.5 0.4 -20.6 Comparable EBITDA Operating result 10.7 11.4 16.1 20.2 23.8 Less: Depreciation, amortisation and impairment 9.4 6.6 22.9 20.2 37.6 Total items affecting comparability 0.1 -0.1 6.0 -0.4 9.6 Comparable EBITDA 20.2 18.0 45.0 40.0 71.1 % of net sales 12.8 % 11.5 % 9.9 % 8.6 % 10.8 % Comparable EBIT Operating result 10.7 11.4 16.1 20.2 23.8 Less: Total items affecting comparability 2.6 -0.1 8.5 -0.4 20.1 Comparable EBIT 13.3 11.3 24.6 19.8 43.9 % of net sales 8.5 % 7.2 % 5.4 % 4.3 % 6.7 % Comparable earnings / share Result for the period attributable to the shareholders of the parent company 5.9 6.2 4.5 6.1 5.5 Less: Total items affecting comparability 2.6 -0.1 8.5 -0.4 20.6 Tax effect on total items affecting comparability -0.5 0.0 -1.7 0.1 -4.1 Total items affecting result for the period 2.1 0.0 6.8 -0.3 16.5 Divided by: Average number of shares during the period 67,553,624 67,553,624 67,553,624 67,553,624 67,553,624 Comparable earnings / share, EUR 0.12 0.09 0.17 0.09 0.33 Comparable dividend payout ratio, % Proposed1 dividend per share, EUR 0.24 Divided by: Comparable earnings / share, EUR 0.33 Comparable dividend payout ratio, % 73.6 % Interim Report | January–September 2026 | 30 October 2026 | 38
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1 For the comparison period, approved by the annual general meeting Reconciliation of alternative performance measures (APM) to IFRS figures EUR million / percent Q3 26 Q1–Q3 26 Organic growth Current period net sales 157.5 453.8 Less: Comparison period net sales -156.7 -463.6 Currency impact -2.5 -7.4 Acquisitions & disposals – – Organic growth -1.8 -17.2 Organic growth, % -1.1 % -3.7 % Currency impact 2.5 7.4 Currency corrected change -1.8 -17.2 Currency corrected change, % -1.1 % -3.7 % Currency impact, % -1.6 % -1.6 % Acquisitions & disposals current period impact – – comparison period impact – – Acquisitions & disposals total – – Acquisitions & disposals, % – – Interim Report | January–September 2026 | 30 October 2026 | 39
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The definitions and reasons for the use of financial key indicators Key figures Definition Reason for use Organic growth Change in net sales excluding the acquisitions and disposals, and the technical translation impacts of foreign currencies. Impacts on net sales from acquisitions or disposals are excluded until full 12 months like- for-like comparatives have been reached. Organic growth a measure of business performance that excludes the impact of technical foreign currency translation effects from consolidating entities with different reporting currencies and the effects from business combination, acquisitions and disposals or business restructuring. Organic growth above market growth is a key component of Anora’s financial targets for 2028 and this measure allows stakeholders to monitor Anora’s progress toward this goal. Organic growth is a commonly used metric in the industry. Gross profit Total net sales + total operating income -material and services Gross profit is the is the indicator to measure the performance Gross margin, % Gross profit/ Total net sales EBITDA Operating result before depreciation and amortization EBITDA is the indicator to measure the performance of the Group. EBITDA margin, % EBITDA / Net sales Comparable operating result Operating result excluding items affecting comparability Comparable EBITDA, comparable EBITDA margin, comparable operating result and comparable operating margin are presented in addition to EBITDA and operating result to reflect the underlying business performance and to enhance comparability from period to period. Anora believes that these comparable performance measures provide meaningful supplemental information by excluding items outside normal business, which reduce comparability between the periods. Comparable EBITDA is an internal measure to assess performance of Anora and key performance measure at segment level together with Net Sales. Comparable EBITDA is commonly used as a base for valuation purposes outside the Company and therefore important measure to report regularly. Comparable operating margin, % Comparable operating result / Net sales Comparable EBITDA EBITDA excluding items affecting comparability Comparable EBITDA margin, % Comparable EBITDA / Net sales Comparable EBITDA growth, % Change from comparison period Items affecting comparability Material items outside normal business, such as net gains or losses from business and assets disposals, impairment losses, cost for closure of business operations and restructurings, major corporate projects including direct transaction costs related to business acquisitions and the merger, merger related integration costs, expenses arising from the fair valuation of inventories in connection with merger combinations, voluntary pension plan change, and costs related to other corporate development. Invested capital Total equity + Borrowings Base for ROI measure. Return on equity (ROE), % Result for the period (rolling 12 months) / Total equity (average of reporting period and comparative period) This measure can be used to evaluate how efficiently Anora has been able to generate results in relation to the total equity of the Company. Return on invested capital (ROI), % (Result for the period + Interest expenses) (rolling 12 months) / (Total equity + Non-current and current borrowings) (average of reporting period and comparative period) This measure is used to evaluate how efficiently Anora has been able to generate net results in relation to the total investments made to the Company. Borrowings Non-current borrowings + Current borrowings Net debt Borrowings + non-current and current lease liabilities – cash and cash equivalents Net debt is an indicator to measure the total external debt financing of the Group. Gearing, % Net debt / Total equity Gearing ratio helps to show financial risk level and it is a useful measure for management to monitor the level of Group’s indebtedness. Important measure for the loan portfolio. Equity ratio, % Total equity / (Total assets – Advances received) Equity / assets ratio helps to show financial risk level and it is a useful measure for management to monitor the level of Group’s capital used in the operations. Interim Report | January–September 2026 | 30 October 2026 | 40
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Net debt / Comparable EBITDA Net debt / Comparable EBITDA Earnings / share Result for the period attributable to shareholders of the parent company/ Average number of shares during the period Comparable earnings / share Result for the period attributable to shareholders of the parent company excluding Items affecting comparability after tax*/ Average number of shares during the period. *A simplified method has been used to calculate the tax effect utilising Anora Group Plc domestic corporate tax rate The Group presents Comparable Earnings per share (Comparable EPS) as a supplementary alternative performance measure to enhance comparability and provide additional insight into the underlying earnings performance of the business. Anora believes that these comparable performance measures provide meaningful supplemental information by excluding items outside normal business, which reduce comparability between the periods. Comparable dividend payout ratio, % Proposed dividend on number of shares at year end as a percentage of net profit excluding Items affecting comparability after tax. *A simplified method has been used to calculate the tax effect utilising Anora Group Plc domestic corporate tax rate Equity / share Equity attributable to shareholders of the parent company / Share- issue adjusted number of shares at the end of period Interim Report | January–September 2026 | 30 October 2026 | 41
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Anora Group Plc Kaapeliaukio 1 P.O. Box 350, 00101 Helsinki +358 207 013 013 www.anora.com Anora is a leading wine and spirits brand house in the Nordic region and a global industry forerunner in sustainability. Our market-leading portfolio consists of our own iconic Nordic brands and a wide range of prominent international partner wines and spirits. We export to over 30 markets globally. Anora Group also includes Anora Industrial and logistics company Vectura. In 2025, Anora’s net sales were EUR 657.9 million and the company employs about 1,200 professionals. Anora’s shares are listed on the Nasdaq Helsinki.