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Resilient thirdquarter with strong orders and robust cash generation29 October 2026 Interim report January–September 2026:
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1.Third quarter highlights2.Market environment3.Financial and business performance1.Financial profile2.Reporting segments3.Update on operating environment4.Balance sheet and cash flow5.Guidance for 20261.Q&A Agenda Sami NiiranenPresident & CEO Katri HokkanenCFO
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Thispresentationincludesforward-lookingstatementsthatarebasedonpresentplans,estimates,projectionsandexpectationsandarenotguaranteesoffutureperformance.Theseforward-lookingstatementsaresubjecttonumerousrisks,uncertaintiesandassumptions,includingrisksrelatingtoKalmar’sindustryandbusinessandtheriskthatKalmar’sactualresultsofoperationsinfutureperiodsmaydiffermateriallyfrom(andbemorenegativethan)theexpectedresultsorperformancetargetsdiscussed,orsuggested,herein.Theseforward-lookingstatementsreflectknowledgeandinformationavailableat,andspeakonlyasof,thedatetheyaremade,which,eventhoughtheyseemtobereasonableatpresent,mayturnouttobeincorrect.Exceptasrequiredbylaw,Kalmarundertakesnoobligationtoupdateorrevisepubliclyanyforward-lookingstatements,whetherasaresultofnewinformation,futureeventsorotherwise,afterthedatehereofortoreflecttheoccurrenceofunanticipatedevents.Readersarecautionednottoplaceunduerelianceonsuchforward-lookingstatements. Disclaimer 3
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4 •Overall stable demand amidst geopolitical instability•Orders received +22% yoy to EUR 458 (375) million•Sales on the level of Q3/25, at EUR 433 (436) million •Eco portfolio sales decreased, however order intake increased-Also fully electric order intake grew•Profitability decreased from a strong comparison period•Services’ profitability continued to improve sequentially•Driving Excellence: continued good execution•Strong operating cash flow and balance sheet •Guidance for 2026 unchanged: Kalmar expects its comparable operating profit margin to be above 12.5 percent in 2026 Resilient third quarter with strong orders and robust cash generation
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•Stable overall demand for equipment and services across different end customer segments•Orders received +22% yoy–Currencies had a positive 1 percentage point impact in Q3–(+) Equipment:strong growth driven by sizeable orders and good development in North America–(+/-) Services:on the same level as in Q3/25 •Order book essentially unchanged Strong growth in orders received year on year, sequentially stable Orders received and order book, MEUR 5
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•(+) EMEA order intake increased driven by a few sizeable orders•(+) Americasorder intake grew strongly largely driven by the Equipment segment across North America•(+) APACorder intake increasedDemand environment:•Continued high interest in Kalmar’s sustainable solutions across core customer segments and regions Orders received by geographical area, Q3/26 Order intake grew in all regions 6
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Sales on the level of the comparison period Sales, MEUR 7 •Sales EUR 433 (436) million◦Equipment -2%◦Services +2%•Delays in deliveries in the APAC region•Currencies had a positive 1 percentage point impact in Q3•Services’ share of total sales 35%
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•(-) EMEA sales decreased slightly•(+) Americas sales grew, North America +50% year on year•(-) APAC sales decreased slightly Stable sales across different regionsSales by geographical area, Q3/26 8
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Eco portfolio: strong growth in orders received, lower sales Eco portfolio sales, MEUR and % of total sales•(+) Eco portfolio orders received grew 32% year on year and share of orders received grew to 47% of all orders•(+/-) Fully electric equipment's share of total equipment ordersLTM stayed at 11%(11%)•(-) Eco portfolio sales decreasedby 7% or to 43% of consolidated sales 9
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10 Comparable operating profit margin 13%Comparable operating profit bridge, Q3/26Comparable operating profit, MEUR and % *Tariffs included in "margin" category.**"Cost impact" includes all indirect and fixed costs. •Comparable operating profit decreased year on year•Strong comparison period in Services•Comparable operating profit margin increased sequentially
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A solid foundation and a well diversified business with solid profitability Sales, total Q3/26433 MEUR Employees5,339 35% 46% EMEA45% Americas41% APAC14% Services share of sales Q3/26Addressable markets by customer segmentGeographical sales split Q3/26Eco portfolioshare of sales Q3/26 Comparable operating profit margin Q3/2613.0% Heavy Logistics24% Ports and Terminals35% Manufacturing23%Distribution18%Services 30 September 2026 Eco portfolio 11
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Average growth rate 2024-28: 2.8%Average growth rate 2019-23: 1.8% Market environment Average growth rate 2024-28: 3.4%Average growth rate 2019-23: 2.7% Average growth rate 2024-28: 5.4%Average growth rate 2019-23: 2.1% Average growth rate 2024-28:3.4%Average growth rate 2019-23: 2.7% Sources: IMF World Economic Prospect, July 2026, October 2026Drewry, Container Forecaster, June 2026, October 2026Oxford Economics, June 2026, September 2026, 2015 pricesOxford Economics, June 2026, September 2026, 2015 pricesForecasts are subject to change Latest forecast vs Q2 2026
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•Kalmar expects that the total market demand for the next six (6) months remains approximately at a similar level asin the previous quarters•However, trade tensions and increased geopolitical instability could affect Kalmar’s markets and end-customer demand. 13 Demand outlook
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14 y/y: -1%q/q: 0%y/y: +3%q/q: -1% y/y:+3%q/q: +3% y/y:-7%q/q: -2%y/y: -1%q/q: -1%y/y: +5%q/q: +4% y/y:-0%q/q: +1% 70,000+ installed base 16,800+connected equipment Change in equipment activity:y/y = Q3/2026 vs Q3/2025q/q = Q3/2026 vs Q2/2026 Connected fleet: regional variations in activity y/y: +1%q/q:-0% Overall
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Order releases booked in Q3/2026 15 10 Kalmar Electric Straddle Carriers to the Port of Virginia® in the US Kalmar Care service agreement with Total Terminal International Algeciras S.A. (TTI Algeciras) in Spain Kalmar Complete Careservice contract with Port of Halmstad (Hallands Hamnar Halmstad AB) in Sweden 12 Kalmar Hybrid Straddle Carriers to International Container Terminal Services, Inc. (ICTSI) in the Philippines 1 Kalmar Hybrid Straddle Carrier with MyKalmar INSIGHT, and 1 Kalmar Reachstacker to Tropical Shipping in the US 2 Kalmar electric reachstackers and MyKalmar INSIGHT with Inspector machine inspection solution to Port of Helsingborg
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Actions towards sustainable growth in Q3/26Total R&D spend 3.1% of sales in January-September EcoVadis Platinum medal for 2026Industry-first fully automated Test Centre opened in Ljungby, Sweden
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Orders received: 310MEUR Orders received: 148MEUROrder book: 887MEURSales: 281MEUR Order book: 117MEURSales: 153MEUR Equipment Services Other not included. Comparable operating profit: 35.5MEUR/12.6% Comparable operating profit: 26.8MEUR/17.6% Resilient performance in Q3/26 17
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Kalmar Leadership Team as of 1 October 2026 Sami NiiranenPresident and CEOKatri HokkanenChief Financial OfficerCarina Geber-TeirSVP, IR, Marketing & Communications Hanna ReijonenSVP, Human ResourcesTommi PetterssonSVP, Strategy, Sustainability and Technology Alf-Gunnar KarlgrenPresident, Counter BalancedThor BrendenPresident, Terminal Tractors Arto KeskinenPresident, Horizontal Transportation Shushu ZhangPresident, BrommaTamara de GruyterPresident, Services Ulla BonoSVP, General Counsel
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Kalmar plans to simplify its operating model* to accelerate growth, enhance customer focus, and optimize operational efficiency SegmentsEquipment & ServicesEquipment SimplificationInternal restructuring within 2 divisions to create stronger divisions of scale, optimize customer synergies, and enhance resilience.Services DedicationCapturing recurring lifecycle value across global installed base through parts, maintenance, and advanced solutions.Lean operations and simplified processes across divisions and functions ImplementationGovernance & TimelineReporting StructureExternal segment reporting structure will be kept consistent and unchanged as Equipment and Services.Planning & ConsultationPlanning will be initiated immediately.Subject to local employee consultation and union notification processes per local legal requirements. FinancialsOutlook & TargetsEUR 10M Cost SavingsEstimated annual savings for full operating model renewal including other operational efficiencies, with full run-rate achieved by the end of 2027.2026 Guidance UnchangedComparable operating profit margin is expected to remain above 12.5 percent in 2026. *Announced 3 September 2026
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1.Third quarter highlights2.Market environment3.Financial and business performance4.Financial profile5.Reporting segments6.Update on operating environment7.Balance sheet and cash flow8.Guidance for 20269.Q&A Agenda Sami NiiranenPresident & CEO Katri HokkanenCFO
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Attractive and strong financial profileQ3 2026 LTM key financial figures 1,868MEUROrders received1,004 MEUROrder book(30 September 2026) 1,819 MEUR Sales-0.1xLeverage (interest bearing net debt at 30 September 2026/ EBITDA) 25.3%Gross profit12.5%Comparable operating profit margin 22.4%Return on capital employed121%%Cash conversion (operating cash flow before finance items and taxes / EBITDA) 21
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•Strong year-on-year growth in order intake driven by sizeable orders and good development in North America •Sales decreasedby 2% yoy to EUR 281(286) million•Delivery delays in the APAC region towards the end of the quarter Equipmentsegment: strong order intake in Q3Equipment: Sales, orders received, order book, MEUR 22
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Equipment segment: stable profitability Equipment: Comparable operating profit, MEUR and % 23 •Stable comparable operating profit margin in 2026•Successful mitigation of tariff impacts•Recall of terminal tractors had no impact on comparable operating profit in Q3 Equipment: Comparable operating profit bridge, Q3/26 *Tariffs included in "margin" category.**"Cost impact" includes all indirect and fixed costs.
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•Order intake on the level of comparison period, although sluggish demand in North America continued •Sales grewby +2%year on year Services segment: steady order intakeServices: Sales, orders received, order book, MEUR 24
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Services’ profitability continued to improve sequentiallyServices: Comparable operating profit, MEUR and % 25 •Tariff impacts successfully mitigated•Increased logistics & sourcing costs due to geopolitical uncertainty•Cost optimisation and targeted sales growth actions advanced Services: Comparable operating profit bridge, Q3/26 *Tariffs included in "margin" category.**"Cost impact" includes all indirect and fixed costs.
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•IEEPA tariffs‒Kalmar has received and continues to receive refunds of IEEPA tariffs paid in 2025-26. There was a slight positive P&L impact in Q3.•Section 232 -Steel, copper and aluminum‒Following the Presidential Proclamation on June 1, tariff rate is lowered from 25% to 15% for forklifts (incl. empty handlers and top picks) and associated spare parts.‒The U.S. Department of Commerce has proposed for straddle carriers to be included in the Section 232 tariffs, potentially raising the tariff rate from 10% to 15%. Kalmar has opposed this and awaits final decision. •Section 301 -New tariffs set in July kept effective tariff rate unchanged for reachstackers, straddle carriers and spreaders as Section 122 tariffs expired.•Kalmar continues to monitor the evolving tariff landscape and implements actions to actively mitigate impacts caused by tariffs. Tariff landscape has been evolving
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Driving Excellence initiative has delivered results•Kalmar had a target to reach EUR 50 million gross efficiency improvements by the end of 2026•Run rate of approximately EUR 54 million annualised gross efficiency improvements achieved by end of September•The majority of the improvements secured originated from successful sourcing activities
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Kalmar’s return on capital employed enables long-term growth Return on capital employed (ROCE, last 12 months) 28
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Strong balance sheetNet debt and gearing, MEURMaturity profile, 30 September 2026* 29*The detailed maturing profile of lease liabilities is reported annually and estimated in the interim reports. Interest-bearing net debt / EBITDA-0.1x
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Robust cash generation continuedCash flow from operations before financing items and taxes, MEUR 30
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Guidance for 2026Kalmar expects its comparable operating profit margin to be above 12.5 percent in 2026. 31
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•Market demand remained stable•Orders received increased largely driven by good development in North America•Very strong sales growth in North America•Comparable operating profit decreased from a high comparison period to EUR 56.4 (60.0) million, representing 13.0% (13.8) of sales •Driving Excellence: approximately EUR 54 million of annualised gross efficiency improvements secured by end of 3Q•Kalmar expects that the total market demand for the next six (6) months remains approximately at a similar level as in the previous quarters•Guidance for 2026 unchanged: Kalmar expects its comparable operating profit margin to be above 12.5 percent in 2026 32 Summary
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Date: 2 November 2026Location: Flik event studio Valla, Itämerentori 2, 00180 Helsinki, FinlandAgenda (local time, EET): Capital Markets Day 2026 12:15–13:00 Registration and coffee 13:00–16:00 Presentations and webcasthosted by Carina Geber-Teir, SVP, IR, Marketing & CommunicationsKalmar as an investment: Leading the future of sustainable material handlingQ&ABreakDelivering lifetime value across all customer segments and shaping intelligent solutions for tomorrowDriving growth and long-term value creationQ&A16:00–17:00 Drinks and networking18:00–20:00 Dinner with Kalmar management Online registration to Kalmar’s Capital Markets Day is still open. Please register and find more information on the Kalmar Global website.
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34 Q&A