Slides
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Making every move count Pre-silent call with CFO Sakari Ahdekivi22 January 2026 1
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Disclaimer 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. Corporate information and basis for preparation Kalmar Corporation was formed as a result of the partial demerger from Cargotec Corporation (“demerger”), which was completed on 30 June 2024. The trading in Kalmar Corporation shares on the main market of Nasdaq Helsinki commenced on 1 July 2024. Financial information prior to the demerger is presented on a carve-out basis. The carve-out financial statements do not necessarily reflect what the financials would have been had Kalmar operated as an independent consolidated group and had it therefore presented stand-alone consolidated financial information during the periods presented. Further, the carve-out financial information may not be indicative of Kalmar’s future performance. 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
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● Recap of Q3 highlights ● Order releases booked in Q4 ● Market indicators for 2026 Agenda 3
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• Record-high comparable operating profit margin (13.8%), supported by Services and improved efficiencies • Market activity during the quarter in line with our expectations: global market uncertainty persisted, volatility in the tariff and trade policy landscape dampened decision-making • (+) Services orders received increased by 12%: strong orders across the entire portfolio • (-) Equipment orders declined by 20%: impacted by timing of larger orders and delayed decision-making • Outlook for 2025 unchanged: Comparable operating profit margin to be above 12 percent in 2025. Q3/2025 highlights - Improved profitability in the quarter Comparable operating profit, MEUR and % Q4/23 - Q2/24 are carve-out figures4 Q3/25 Q3/24 Change Q1-Q3/25 Q1-Q3/24 Change Comp. OP, MEUR 60.0 57.5 4% 162.8 163.7 -1% % of sales 13.8% 13.5% 0.3 pp 13.0% 12.8% 0.2 pp
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• Europe order intake YTD has been strong, Q3 decline explained by timing of larger orders • Americas order intake growth driven by the distribution end customer segment compared to a weak comparison period • AMEA order intake YTD has been stable • Services orders strong across regions Orders received by geographical area, Q3/25 A mixed development in orders received across regions and end customer segments 5 MEUR Q3/25 Q3/24 Change Q1-Q3/25 Q1-Q3/24 Change Europe 164 195 -16% 601 543 11% Americas 119 109 9% 398 341 17% AMEA 92 112 -18% 307 309 0% Q4/23 - Q2/24 are carve-out figures
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Attractive & strong financial profile Q3 2025 LTM key financial figures 1,792 MEUR Orders received 961 MEUR Order book (at 30 September 2025) 1,694 MEUR Sales 0.3x Leverage (interest bearing net debt at 30 September 2025 / EBITDA) 26.6% Gross profit 12.7% Comparable operating profit margin 20.8% Return on capital employed 75% Cash conversion (operating cash flow before finance items and taxes / EBITDA) 6
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Order releases booked in Q4 7 16 hybrid straddle carriers to Transnet Port Terminals (TPT) to Cape Town and Port Elizabeth, South Africa Size: significant 3 Kalmar hybrid straddle carriers to Forth Ports Grangemouth in Scotland, United Kingdom Size: large A Modernisation Services agreement with Eurogate Container Terminal Wilhelmshaven to relocate and modify 2 ZPMC Ship-to-Shore cranes Size: large 10-year strategic supply agreement with Patrick Terminals, including support for existing and future automation projects across Patrick’s terminal network 5 Kalmar Medium Forklift Trucks, with a five-year Essential Care maintenance contract with OSTP Finland 3-year Kalmar Complete Care service agreement with Yilport Oslo Terminal Investments AS Size: large
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Modest global growth expected in 2026 Average growth rate 2024-28: 3.3% Average growth rate 2019-23: 2.8% Average growth rate 2024-28: 4.1% Average growth rate 2019-23: 2.1% Average growth rate 2024-28: 2.6% Average growth rate 2019-23: 2.1% Average growth rate 2024-28: 3.3% Average growth rate 2019-23: 2.7% Sources: IMF World Economic Prospect, October 2025, January 2026 Drewry: Container Forecaster, September 2025, December 2025 Oxford Economics, June 2024, September 2025, 2015 prices Oxford Economics, June 2024, September 2025, 2015 prices Forecasts are subject to change
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9 y/y: +2% q/q: +2% y/y: -3% q/q: -4% y/y: +5% q/q: +7% y/y: +9% q/q: +7% y/y: 0% q/q: +3% y/y: +3% q/q: +1% y/y: +2% q/q: +3% 68,000+ installed base 14,500+ connected equipment Change in equipment activity: y/y = Q3/2025 vs Q3/2024 q/q = Q3/2025 vs Q2/2025 Connected fleet activity remained on a good level in Q3 y/y: +1% q/q:+1% Overall
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Q&A 10
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Kalmar’s IR team Carina Geber-Teir SVP, IR, Marketing & Comms carina.geber-teir@kalmarglobal.com +358405024697 Katariina Kataja Director, Investor Relations katariina.kataja@kalmarglobal.com +358405271427
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