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2 November 2026 Kalmar Capital Markets Day 2026 Carina
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This presentation includes forward-looking statements that are based on present plans, estimates, projections and expectations and are not guarantees of future performance. These forward-looking statements are subject to numerous risks, uncertainties and assumptions, including risks relating to Kalmar’s industry and business and the risk that Kalmar’s actual results of operations in future periods may differ materially from (and be more negative than) the expected results or performance targets discussed, or suggested, herein. These forward-looking statements reflect knowledge and information available at, and speak only as of, the date they are made, which, even though they seem to be reasonable at present, may turn out to be incorrect. Except as required by law, Kalmar undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date hereof or to reflect the occurrence of unanticipated events. Readers are cautioned not to place undue reliance on such forward-looking statements. Disclaimer Carina
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Agenda 13:00–14:25 Presentations and webcast hosted by Carina Geber-Teir, SVP, IR, Marketing & Communications Kalmar as an investment and industrial landscape • Sami Niiranen, President & CEO • Katri Hokkanen, Chief Financial Officer • Tommi Pettersson, SVP, Strategy, Sustainability & Technology Q&A Accelerating services • Tamara de Gruyter, President, Services • Thor Brenden, President, Terminal Tractors • Arto Keskinen, President, Horizontal Transportation 14:25–14:45 Break 14:45–16:00 Presentations and webcast hosted by Carina Geber-Teir, SVP, IR, Marketing & Communications Enabling future customer value through sustainable innovations • Tamara de Gruyter, President, Services • Thor Brenden, President, Terminal Tractors • Arto Keskinen, President, Horizontal Transportation • Tommi Pettersson, SVP, Strategy, Sustainability & Technology Growth plan and journey to 2030 • Sami Niiranen, President & CEO • Katri Hokkanen, Chief Financial Officer Q&A 16:00–17:00 Drinks and networking 18:00–20:00 Dinner with Kalmar management Local time, EET Carina
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Speakers today Sami Niiranen President and CEO Katri Hokkanen Chief Financial Officer Carina Geber-Teir SVP, IR, Marketing & Communications Tommi Pettersson SVP, Strategy, Sustainability and Technology Thor Brenden President, Terminal Tractors Arto Keskinen President, Horizontal Transportation Tamara de Gruyter President, Services Carina
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Kalmar as an investment and recap 2024–2026 Intro discussion Sami, Carina This slide only to be shown on webcast, screen background image in the studio
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Sami, Carina
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Sami, Carina
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Services and aftermarket Operating model Capital allocation Technology Customer engagement Sami, Carina
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Sami Kalmar as an investment and recap 2024–2026
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Kalmar is a business of real scale Order Intake LTM 1,868 MEUR HIGHLIGHT 1,500+ Service technicians ROCE 22.4% Sales LTM 1,819 MEUR Comparable operating profit / margin LTM 228 MEUR / 12.5 % Eco portfolio share of sales LTM ~45% Employees ~5,300 Installed equipment base >70,000 Connected fleet 19,000 Total Shareholder Return 37.6% Sami
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Pure-play leader in the heavy material handling market A leading service network in the industry, close to customers2 Genuine parts Maintenance Upgrade projects Reachstackers1 Terminal Tractors Straddle Carriers Equipment Services Forklift Trucks, medium and heavy Spreaders #1 #1#1 # Refers to market position; 1) Reachstackers & Empty Container Handlers-category holds a market position of #1-3 globally; Source: KPMG Market Study 2026 (in respect of equipment market). Kalmar is a market leader across terminal tractors, straddle carriers, crane spreaders and reachstackers and empty container handlers, and one of the leaders for medium and heavy forklift trucks based on equipment volume (average in 2024-2025) 2) Kalmar management estimate #2-3 35% Services share of sales, Q3/26 Sami #1-2
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Leading sales and service network in the industry with global scale and regional execution Approx. 29% of our global sales came through dealers in 2025 Sales in over 120 countries Source: Kalmar management estimate Sales & Services Kalmar / Dealer location Head Office, Helsinki, Finland Kalmar Factory, Ottawa, United States Kalmar Factory, Shanghai, China Kalmar Innovation Centre, Ljungby, Sweden Kalmar Factory, Stargard, Poland Bromma Factory, Ipoh, Malaysia Kalmar Innovation Centre, Tampere, Finland 3rd party Final Assembly sites Sami
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Ports & Terminals 62% of sales in 2025 Distribution 19% of sales in 2025 Kalmar serves heavy material handling operations across all customer segments Spare Parts | Maintenance | Upgrades & Refurbishments | Digital Solutions High/ Emerging Electrification potential High / Emerging Automation Potential Heavy Logistics 12% of sales in 2025 Manufacturing 7% of sales in 2025 Sami
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Achieving on our strategy set out in 2024 Investing in sustainable innovations Growing Services Driving excellence Achievements ResultsStrategic pillars 54 MEUR Gross efficiency run-rate improvements achieved 22.4% ROCE1 +6 pp Services share of sales2 45% Eco portfolio share of sales (37%)1 11% Share of fully electric equipment orders (12%)1 30% Parts capture rate Q3 r12m (30% 2024) Accelerating R&D Strengthening Services for the future Building a platform for growth 1Q3/2026 LTM (Q1/2024 LTM) 2Q3/2026 LTM vs Q1/2024 LTM Sami
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Steady historical over-the-cycle sales growth What we have done/Growth levers • Large and growing installed base and connectivity • Increased share of service business • Sustainable innovations • Customer trust What needs to improve • Focus on specific growth regions and customer segments • Increased service value of the total offering • Speed and execution with a growth mindset +3.2% Services Equipment Other 98 (17.5%) 104 (16.7%) 150 (12.9%) 154 (12.8%) -29 -29 2024 LTM Q3/2026 219 (12.7%) 229 (12.6%) Historical sales development (excl. heavy cranes), MEUR1 Comparable operating profit development (excl. heavy cranes), MEUR2 1 Kalmar’s unaudited sales excluding heavy cranes 2 Kalmar’s unaudited Comparable Operating Profit excluding heavy cranes Sami
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Kalmar 2030 strategy Foundations Customer proximity • Dynamic talent & growth-driven culture • Attractive market • Strong financial profile • Driving Excellence Investing in Sustainable Innovations Accelerating Services and Customer Lifetime value Driving Growth Sami
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Significant services growth upside from large installed base of 70,000 equipment and connectivity Global leader in an attractive market for mission-critical heavy material handling. Geared for regional growth Partnering long-term with customers to make the industry more electrified, intelligent and sustainable Geared to grow through data-driven lifetime solutions and value capture Strong financial profile and a global asset-light footprint enabling investments in growth and efficiency improvement Supplementing growth and value creation through targeted M&A Solid foundation enabling accelerated growth and value creation Investing in Sustainable Innovations Accelerating Services and Customer Lifetime value Driving Growth A growth and innovation driven culture with dynamic talent Sami
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Key Performance Targets by 2030 >8% sales growth p.a. over the cycle 16% Comparable operating profit1 margin >25% ROCE2 >50% Eco portfolio share of sales 800 MEUR Services sales 50 MEUR Gross efficiency improvements3 by the end of 2030 1 Not including forward points / interest points related to FX hedging 2 Excluding acquisitions. Defined as (Profit before taxes + finance expenses, last 12 months) / (Total invested equity + interest-bearing debt (12 months average)) 3 Additional to Driving Excellence 2024-2026 program’s target of 50 MEUR gross efficiency improvements Sami
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Geared to grow with a diverse and winning team Sami Niiranen President and CEO Katri Hokkanen Chief Financial Officer Carina Geber-Teir SVP, IR, Marketing & Communications Hanna Reijonen SVP, Human Resources Tommi Pettersson SVP, Strategy, Sustainability and Technology Thor Brenden President, Counter Balanced Arto Keskinen President, Horizontal Transportation and Terminal Tractors Shushu Zhang President, Bromma Tamara de Gruyter President, Services Ulla Bono SVP, General Counsel *Leadership Team as of 1 January 2027 Sales in ~120 countries Regional split of employees Americas ~500 EMEA ~3,400 APAC ~1,450 ~5,300 Employees Employees in 33 countries Sami
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>8% sales growth p.a. over the cycle 16% Comparable operating profit1 margin >25% ROCE2 >50% Eco portfolio share of sales 800 MEUR Services sales 50 MEUR Gross efficiency improvements3 by the end of 2030 Accelerating growth towards 2030 and beyond Investing in Sustainable Innovations Accelerating Services and Customer Lifetime value Driving Growth Foundations Customer proximity • Dynamic talent & growth-driven culture • Attractive market • Strong financial profile • Driving Excellence Sami + Wrap up discussion Sami & Carina 1 Not including forward points / interest points related to FX hedging 2 Excluding acquisitions. Defined as (Profit before taxes + finance expenses, last 12 months) / (Total invested equity + interest-bearing debt (12 months average)) 3 Additional to Driving Excellence 2024-2026 program’s target of 50 MEUR gross efficiency improvements
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Future will be more electric and intelligent Intro discussion Sami, Tommi Katri, Carina
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Industrial landscape Tommi
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Market growth underpinned by megatrends and customer expectations Decarbonization and electrification Labour shortage Changing logistics landscape Customer & industry expectations Productivity Safety Uptime & reliability Ease of doing business Operational scalability Ports & Terminals Distribution Manufacturing Heavy logistics Baseline growth tied to global trade growth Digital evolution Megatrends
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An attractive and growing addressable market projected to grow ~6% CAGR over ‘25-’30 1Externally conducted market estimate(s) (KPMG 2026) 2Market size excluding Light Forklift Trucks Global heavy material handling market Market size1,2, nominal growth, EUR bn, 2025-2030F 5.7% p.a. +4.6% p.a. Equipment 3.8 5.4 6.4 5.1 9.0 11.8 20302025 Services +7.2% p.a. Growth drivers • Cyclical upcycle • Electrification • Automation • Regional & segment growth pockets Growth drivers • Global fleet growth • Cyclical upcycle • Digitalisation & automation
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Latest forecast vs Q2 2026 Market environment trending in our favor Average growth rate 2025-30: 2.7% Average growth rate 2020-25: 2.2% Average growth rate 2025-30: 3.3% Average growth rate 2020-25: 3.0% Average growth rate 2025-30: 4.1% Average growth rate 2020-25: 3.7% Average growth rate 2025-30: 3.3% Average growth rate 2020-25: 3.0% Sources: IMF World Economic Prospect, April/July 2026, October 2026 Drewry, Container Forecaster, June 2026, October 2026 Oxford Economics, June 2026, September 2026, 2015 prices Oxford Economics, June 2026, September 2026, 2015 prices Forecasts are subject to change
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Strong growth in the electric equipment market 1Equipment market as per externally conducted market estimate(s) (KPMG 2026) 2Market size excluding Light Forklift Trucks 3Service market based on management estimates, excluding Light Forklift Trucks Kalmar’s market position and order intake development in key fully electric equipment categoriesGlobal heavy material handling market - fully electric Total market size1,2,3, nominal growth, EUR bn, 2025-2030F ~23% p.a. 0.7 2.0 0.8 0.3 1.0 2.8 20302025 Services Equipment Order intake growth CAGR ‘24-’26 Q3 LTM 78% 35% 29% 6% 11% EMEA leader Scale-up phaseGlobal leader
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Labour shortage Productivity needs Safety Automation development Automated container terminal capacity1, TEUm Pilot projects Semi automated capacity Fully automated capacity Automation demand growth drivers The future will be more intelligent ~7% p.a. ~130 ~180-210 ~120-140 ~70 ~200 ~300-350 20302024 +6% +9% CAGR ’24-’30 1Externally conducted market estimate(s) (KPMG 2026)
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Why customers choose us Technical advantage – low energy consumption & high productivity Engineered for endurance and performance – lower total cost of ownership Safety and ergonomics through operator-focused design Global support network, keeping customer operations moving
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An attractive market with growth opportunities beyond ports and terminals 1) KPMG 2026, addressable markets by customer segment, based on equipment market values, excluding light forklift trucks 2) Management estimate, Kalmar total sales for 2025 split per customer segment 3) KPMG 2024, addressable markets by customer segment, based on equipment market values, excluding light forklift trucks Addressable markets by customer segment 20251 Heavy Logistics 11% (17%) Manufacturing 16% (12%) Distribution 14% (26%) Ports and Terminals 59% (45%) Kalmar sales split 20252 Distribution 19% Ports and Terminals 62%Heavy Logistics 12% Manufacturing 7% (XX%) Addressable markets by customer segment 20233
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High automation potential Customers in the segment • Container, intermodal, and inland terminals; liquid bulk terminals, empty container depots Segment-specific growth drivers • Need for higher throughput & productivity, global trade growth, shifting trade routes and nearshoring, fleet replacement cycles Ports & Terminals 6.1% Segment CAGR ‘25-’30 High electrification potential 59% Share of total addressable market Spare Parts | Maintenance | Upgrades & Refurbishments | Digital Solutions Sales by customer segment
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High automation potential 14.3% Segment CAGR ‘25-’30 High electrification potential 14% Share of total addressable market Distribution Customers in the segment • Distribution & logistic centres Segment-specific growth drivers • E-commerce and omnichannel retail volume, warehouse and DC footprint expansion, fleet replacement cycles Sales by customer segment Spare Parts | Maintenance | Upgrades & Refurbishments | Digital Solutions
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Driver assistance systems potential Customers in the segment • Energy production & projects, defence logistics, mining support, infrastructure & construction, freight forwarding Segment-specific growth drivers • Renewable energy & wind infrastructure investments, defence investments, mining investments, data center buildout trend Heavy Logistics 6.0% Segment CAGR ‘25-’30 Emerging electrification potential 11% Share of total addressable market Sales by customer segment Spare Parts | Maintenance | Upgrades & Refurbishments | Digital Solutions
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Emerging automation potential Customers in the segment • Metals processing, forestry (wood and wood products, pulp and paper), chemicals, automotive, food & beverages Segment-specific growth drivers • Reshoring & expanding local capacity, industrial production growth, fleet replacement cycles Manufacturing Sales by customer segment 4.5% Segment CAGR ‘25-’30 High electrification potential 16% Share of total addressable market Spare Parts | Maintenance | Upgrades & Refurbishments | Digital Solutions
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Kalmar is addressing regions with the highest growth potential 1Externally conducted market estimate(s) (KPMG 2026) 2 Market size excluding Light Forklift Trucks CAGR ‘25-’30 4.8%7.2% 4.6% Total market size 9 €bn Global heavy material handling market by region Total market size1,2 in 2025 3.6 2.8 2.5 Geographical split Sales distribution, L12M Q3/2026 Sales by geography Americas 33% EMEA 53% APAC 14%
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Large and growing market The future will be more intelligent and electric Distribution segment recovery Supporting macro environment Geared to grow and shape the industry
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Wrap up discussion Sami, Carina, Katri, Tommi This slide only to be shown on webcast, screen background image in the studioIndustrial landscape
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Q&A Sami, Katri, Tommi, Carina
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Accelerating service and customer lifetime value Carina
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Accelerating service and customer lifetime value Panel discussion Carina, Tamara, Thor, Arto This slide only to be shown on webcast, screen background image in the studio
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Efficiency Reliability & uptime Providing unmatched value to customers Ease of doing business Trends driving automation Background slide for panel discussion Carina
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"We’ve seen the value of Kalmar’s expertise firsthand since we first joined forces in 2016. This Complete Care contract gives us the predictability and reliability we need to keep growing." Bjørn Engelsen Terminal Director, Yilport Oslo “Experiencing the high uptime and efficiency of Kalmar’s electric technology firsthand confirmed that they are the ideal partner to support our ongoing growth while minimizing our environmental impact.” Denis Cart-Lamy Sales and Purchasing Director, Arnal France “As a long-term partner, Kalmar can offer the proven technology and unparalleled service and fleet management expertise that a project of this nature demands." Arthur de Jonge Senior Director Projects and Systems ICTSI, Philippines. Customer quotes from our releases and other materials Background slide for panel discussion Carina
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Solution The hybrid AutoStrads for twin lift operations • Reducing delays at the quay and improving the flow of containers • Increased ship-to-shore productivity and more efficient terminal operations Customer need Container terminals push for higher throughput. • The ability to handle heavy twin container moves efficiently increasingly important. Terminal: ASC and AutoStrad, annual handling capacity of more than 1.6 million TEU. Increased productivity and more efficient terminal operations with Victoria International Container Terminal Background slide for panel discussion Carina
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Experience the Kalmar feeling Safety like no other With many more safety features fitted as standard than any other manufacturer, customers will feel safer than they ever have before when around operating equipment. Handles like no other With our advanced driving assist system operators will feel the difference from day one, enabling them to move loads quicker and safer than ever before. Technology like no other With advanced diagnostics and proven technology accessible through intuitive interfaces customers will feel they are in complete control at all times. Background slide for panel discussion Carina
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Intelligence drives service growth 2x Customers with connected machines are about twice as likely to buy parts directly from Kalmar, compared to customers without connected machines. Background slide for panel discussion Carina
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Current and future customer needs Sustainable innovations Services & customer lifetime value Growth Kalmar RDI Priorities3.1% of sales to R&D (2025) Electrification & Decarbonisation Data & digitally enabled services Automation & robotics Future technologies Sustainable innovations help our customers to stay ahead Background slide for panel discussion Carina
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Accelerating service and customer lifetime value Tamara Within the panel discussion Tamara’s presentation
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621 MEUR Service sales Q3/2026 LTM Parts 50% Maintenance, contracts & on-call 36% Upgrade projects and refurbishments 15% Parts capture rate Development, 2021-2026 (Q3 LTM) Solid service portfolio and accelerating spare parts capture rate development Note: Figures may not sum to 100% due to rounding.
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Management estimates Good progress in connectivity and digitalisation Kalmar connected fleet is growing fast +7,400 connected machines, +14% a year Number of connected machines 4 bn 11,600 19,000 2026 Sep2022 +14% p.a. Half of parts sales coming from digital channels 56% increase in spare parts purchased online E-commerce share of parts sales, LTM 4 bn 32% 50% 2026 Sep LTM2019 +56%
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2x 70% EV creating new opportunities for services of maintenance is linked to load handling part of the equipment contract attachment rate in EVs vs. diesel
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Actions to accelerate service growth Working to ensure service & parts offering in every quote Capturing full service potential by extending equipment lifecycle Pushing for data driven service solutions - MyKalmar INSIGHT and Inspector Design to service in the Next Generation
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Break Carina
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Enabling future customer value through sustainable innovation Carina
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Enabling future customer value through sustainable innovation Carina, Tamara, Thor, Arto, Tommi Background slide for panel discussion
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Continuous advancements, decrease in component cost Major shifts in technology are driving growth Electrification Automation Digitalization Maturity Key shifts Impact to customers Maturing Accelerating and spreading to new applications Mature, transforming Attractive total cost of ownership Infrastructure build-up needs Need for reliable service partnerships with new skills Increased operational resilience Improved productivity and safety Improved uptime through data- driven predictable maintenance Deeper understanding of improving operational efficiency Skilled labour shortage, productivity requirements Deepened capabilities to derive predictability from data Background slide for panel discussion Carina
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• Digital twins & simulation • AI features in Kalmar digital offering • New digital solutions • Service operation optimization tools • Digitally enhanced equipment Machine (IoT) data from connected installed base Service operations data R&D data from 24/7 automated testing facilities Strong data foundations for intelligence-driven growth and operational excellence Unique data from multiple sources Data enables increasing amount of new applications Creating unmatched value for customers and operational excellence Preventing unplanned downtime Service contract pricing optimizations Kalmar service technician productivity Improved R&D cycle speed Automated equipment performance Safety & compliance Background slide for panel discussion Carina
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From investments to offering Offering expansion driven by innovation Across all equipment divisions Expanding automation to new segments Ensuring customer lifetime value Unique data-driven solutions 2027-2031 Next generation equipment offering ranges Leveraging automation expertise New lifecycle solutions Digital solutions innovation Background slide for panel discussion Carina
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Accelerating technology development through strong ecosystems Data-Driven Services and Processes Translating real-time intelligence into measurable efficiency Ecosystem 150 ecosystem partners, working collaboratively in projects under three key themes Circularity Driving new circular business models and customer value by extending equipment life cycles. Electrification Expanding electrification into an economically viable customer-site energy ecosystem Net-zero heavy industrial logistics chains by 2045 Move2Green Background slide for panel discussion Carina
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A culture of innovation Driving Kalmar’s success now and tomorrow Majority of 2025 R&D expenditures invested on new technologies and solutions R&D spend 3.1% of sales in 2025 AI and machine learning systems in operative use, improving customer experience and internal efficiencies Close to 10% of Kalmar personnel working in research & development roles globally Background slide for panel discussion Carina
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Carina
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Growth plan and journey to 2030 Intro discussion: Sami, Katri, Tommi + Carina This slide only to be shown on webcast, screen background image in the studio
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Successful execution from spin off towards margin expansion and higher growth < 2024 Strategic focus Portfolio width and depth 2024–2026 Strategic focus Focus on core and excellence 2027–2030 Strategic focus Shift to accelerated growth Carina, Sami, Katri
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Growth plan and journey to 2030 Sami, Katri
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Kalmar 2030 strategy Foundations Customer proximity • Dynamic talent & growth-driven culture • Attractive market • Strong financial profile • Driving Excellence Investing in Sustainable Innovations Accelerating Services and Customer Lifetime value Driving Growth Sami
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• Targeting under-penetrated customer segments and geographical areas • Capturing EV and automation growth • Expanding lifetime installed base value capture • Potential and targeted acquisitions in attractive niches • Simplification of operating model to accelerate growth Strong focus on accelerating profitable and sustainable growth Equipment Services 2030 Target >8% CAGR Growth and value creation through targeted M&A Services Today Equipment Sales, illustrative Illustrative management estimate Sami
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EQT sales, MEUR Innovation at core to drive Equipment growth Sami 2023 2026 Q3 LTM 618 ICE & hybrid equipment growth Serving customer fleet replacement and expansion demand Next generation range ICE & hybrid equipment Automation & EV growth Capturing an emerging pivotal shift in automation through expanded and strengthened automation offering Next generation range EV equipment Geographical expansion Targeting under-penetrated geographical areas and customer segments with fit-for-market offering Distribution market (–) Geographical expansion (+) ECO growth (+) 1,442 1,197 -17% Illustrative
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Towards 800 MEUR: Accelerating recurring Service business and intelligent solutions Illustrative Services sales, MEUR 2023 2026 Q3 LTM 618 Transactional services Spare parts sales, on-demand and contract maintenance Predictable growth engine driven by installed base Data-driven solutions Digital sales (eCommerce, fleet management, machine inspections) Scalable, recurring, high-margin revenue Upgrade projects and refurbishments Used equipment and rental, modernization & upgrades Capturing full service potential by extending equipment lifecycle Parts capture rate increase Upgrade projects & refurbishments 567 621 800 2030 Sami +10%
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Growth in customer value-creating service solutions Increasing technological sophistication – High voltage EV drivelines, fit-for-application designs Increasing intelligence – Automation, connectivity, driver assistance systems Profitable and sustainable growth has been delivered through value-creating technologies and services 1Excluding Heavy Cranes & Navis business Revenue per unit sold1 annually, indexed 2016 =100 Sami 2016 2018 2020 2022 2024 2026 Q3 YTD 156 100
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Strategic focus Retain market position & opportunistic market capture Addressable market CAGR ‘25-’30 Highly efficient footprint, close to customers Prioritising regions with high service growth potential Kalmar Factory Kalmar Innovation Centre 1 4 2 3 3 2 4 1 Americas EMEA + Oceania Asia 4.8%7.2% 4.6% 5 6 Sami
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New simplified operating model to enhance growth and customer focus 10 MEUR Cost Savings (Full run rate achieved by end of 2027) Simplification Focus Ways of working Unifying two equipment divisions Service dedication Lean operations, R&D and simplified processes Sami
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Growth plan and journey to 2030 Katri NB this slide only visible in the webcast. On-site studio screen’s picture to be used as the background visual for Katri’s intro
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Financial Framework Capital Allocation Driving Profitable Growth Accelerating Growth Strong Cash Generation 2030 Targets Priorities Financial framework driving sustainable value creation Drive Profitable Growth Via focused and disciplined capital allocation Agile Execution Faster and more efficient decision making, commercial excellence with margin and pricing discipline Structural efficiency improvements Simplification of core processes and working capital optimisation >8% Sales Growth p.a. over the cycle 16% Comparable Operating Profit1 (COP%) >25% Return on Capital Employed2 (ROCE) Higher Margins Katri 1 Not including forward points / interest points related to FX hedging 2 Excluding acquisitions. Defined as (Profit before taxes + finance expenses, last 12 months) / (Total invested equity + interest-bearing debt (12 months average))
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Dual growth engines – Success driven by improvements in both segments Orders received: 2024–2026: +15% 1,263 MEUR* Orders received: 2024–2026: +4% 605 MEUR* Sales: 2024–2026: +3% 1,197 MEUR* Sales: 2024–2026: +11% 621 MEUR* Equipment Services Other segment not included. *) Q3/26 LTM Comparable operating profit: 154 MEUR/12.8%* Comparable operating profit: 104 MEUR/16.7%* Katri
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Pathway with focused actions to higher profitability Comparable OP Margin (%) 12.5% 567 Equipment Services Productivity & Excellence 2026 Q3 LTM 16.0% 2030 Equipment growth Absolute unit volume growth Value-add intelligence features Services growth & efficiency Parts potential capture of a growing installed base Digital-enabled solutions and internal efficiencies Structural efficiency improvements Delivering on an efficient customer- centric operating model Value capture of Driving Excellence program Katri
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Driving excellence has yielded good results but continuous improvements needed to protect COP Gross efficiency improvements secured Cumulative MEUR, 2024-Q3/2026 +1.8% COP per FTE 2026 Q3 LTM vs 2024 -4.5% OpEx (SG&A)1 per FTE 2026 Q3 LTM vs 2024 +50 MEUR Targeted additional gross improvement by 2030 Driving excellence continues as a foundational element of Kalmar strategy Sourcing improvements Value capture from process development Commercial excellence actions Katri 1 SG&A excludes R&D expenditure
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Efficient working capital management & industry-leading cash conversion Net working capital1,2 development MEUR Cash conversion1,3 development MEUR 1) All figures before 30.6.2024 are prepared on carve-out basis and do not represent Kalmar on a standalone basis 2) Net working capital defined as inventories + operative derivative assets + accounts receivable + contract assets + other operative non-interest-bearing assets - provisions - advances received - operative derivative liabilities - accounts payable - pension obligations - contract liabilities - other operative non-interest-bearing liabilities. 2) Cash flow from operations before finance items and taxes / EBITDA Katri
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Return on capital employed1 (ROCE, last 12 months) Top-tier return on capital employed Katri 1) Defined as (Profit before taxes + finance expenses, last 12 months) / (Total invested equity + interest-bearing debt (12 months average))
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1) Capex consisting of investments into intangible assets, PPE, and leased assets, excluding acquisitions and customer financing Capital allocation that drives growth and value creation Leverage target <2.5x Net debt to EBITDA (-0.1x Q3/2026) Value creating acquisitions 30-50% Dividend payout ratio (43% 2025) Shareholder returns ~2% Capex1 ratio (2.2% 2025) Investing for organic growth ~3% R&D ratio (3.1% 2025) Focus on developing and commercializing new technologies and solutions Improving efficiency Dividends Share buybacks Targeted and disciplined M&A Katri
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Accelerating growth through targeted M&A that strengthen our offering Key principles M&A focus areas Reinforcing the core Adjacent to the core Vertical integration Market attractiveness Supporting financial targets Strategic fit Supporting sustainability agenda Example New equipment niches Example Service acceleration Example IP, technology Katri
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Making every move count Sami Intelligent solutions with strong service support network Strong foundation to accelerate growth and value creation World-leading technology and talented people Customer proximity and trust in an attractive market
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Carina + all speakers
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Q&A Carina + all speakers
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Carina