Interim report
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Interim Report 1–9/2026
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2 ( 34 ) Interim Report 1–9 /2026 Marimekko Corporation , Interim Report, 4 November 2026 at 8.00 a.m. EET Marimekko ’s net sales and operating profit increased in the third quarter due to the excellent development of international sales The third quarter in brief • Marimekko’s net sales in the third quarter increased by 3 percent and amounted to EUR 52.1 million (50.8). Net sales were boosted especially by the excellent development of wholesale and retail sales in all international market areas . On the other hand, net sales development was weakened by the decrease in domestic sales . • Net sales in Finland decreased by 9 percent as especially wholesale sales declined in the continued challenging operating environment. In a price -sensitive market situation , retail sales in Finland also decreased. • International sales increased by 16 percent following the excellent development of net sales in all market areas . • Marimekko’s o perating profit in the third q uarter was EUR 12.7 million ( 12.5 ). Comparable operating profit totaled EUR 13.0 million ( 12.7 ) equaling to 25.0 percent of net sales ( 24.9 ). • Operating profit was increased by growth of net sales and improved relative sales margin. On the other hand, increased fixed costs had a negative impact on the operating profit. January– September in brief • The company’s cumulative net sales i ncre ased by 2 per cent a nd tota led EU R 137.5 million (134.8). Net sales were boosted in parti cular by the gro wth of re tail and wholesale sales in all international market areas. On the other hand, net sales were weakened by decre ased sales in Finland. • Net sales in Fin land decreased by 6 percent as the c ontinued challen ging market situation impacted negatively part icula rly d omestic r etail sales. • International sales g rew by 11 p ercent with all international market areas reporting excellent development. Most growth was accr ued in the Asia -Paci fic re gion. • Marimekko’s operating pro fit amo unted to EUR 22.6 million (23.1 ). C omparable operating profit totaled EUR 23.4 mil lion (23.5) equaling to 17.0 percent of ne t sale s (17.5). • Operating profit was weakened, in particular, by increased fixed costs. On the other hand, impr oved relativ e sales margin and an increas e in net sales h ad a positive impact on operatin g profit development.
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3 (34 ) Interim Report 1– 9/2026 Financial guidance for 202 6 (unchanged) The Marimekko Group ’s net sales for 2026 are expected to grow from the previous year (2025 : EUR 18 9.6 million). Comparable operating profit margin is estimated to be approximately some 16 –19 percent (202 5: 17.1 percent). Development of consumer confidence and purchasing power in the company’s main markets , in particular, cause significant volatility to the outlook for 2026 . This development is strongly impacted by rapid changes and uncertainties in geopolitics and global trad e policy , among others. In addition , different disruptions in global supply chains can cause volatility to the outlook . Uncertainties related to the development of net sales and result are described in more detail in the Major risks and factors of uncertainty section of the Interim Report .
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4 ( 34 ) Interim Report 1–9 /2026 KEY FIGURES (EUR million) 7–9/ 2026 7–9/ 2025 Change, % 1–9/ 2026 1–9/ 2025 Change, % 1–12/ 2025 Net sales 52.1 50.8 3 137.5 13 4.8 2 189.6 International sales 27.1 23.3 16 70.2 63.3 11 87.2 % of net sales 52 46 51 47 46 EBITDA 15.5 15.0 3 30.7 30.5 1 41.9 Comparable EBITDA 15. 7 15.2 4 31.5 30.9 2 42.3 Operating profit 12 .7 12.5 2 22.6 23.1 -2 31.8 Operating profit margin, % 24.4 24.6 16.4 17.1 16.8 Comparable operating profit 13.0 12.7 3 23 .4 23.5 -1 32.3 Comparable operating profit margin, % 25.0 24.9 17.0 17.5 17.1 Result for the period 10.2 9.9 4 17.9 17.4 3 24.4 Earnings per share, EUR 0. 25 0.24 4 0. 44 0.43 3 0.60 Comparable earnings per share, EUR 0. 26 0.25 5 0. 46 0.44 5 0.61 Cash flow from operating activities 5.3 11.4 -53 13.0 12.1 8 34.5 Gross investments 0.3 0.5 -46 1.2 2.2 -44 2.9 Return on capital employed (ROCE), % 32.0 33.0 30.0 Equity ratio, % 60.0 57.9 57.7 Gearing, % 7.8 21.5 -9.3 Net debt / EBITDA (rolling 12 months) 0. 13 0.34 -0.17 Personnel at the end of the period 481 480 0 493 outside Finland 75 89 -16 92 Brand sales* 103.4 99.9 4 271.6 286.9 -5 385.1 outside Finland 68.1 60.3 13 175.8 186.4 -6 240.7 proportion of international sales, % 66 60 65 65 62 Number of stores 184 169 9 174 * Brand sales are given as an alternative non- IFRS key figure, representing the reach of the Marimekko brand through different distribution channels. An unofficial estimate of sales of Marimekko products at consumer prices, brand sales are calculated by ad ding together the company’s own retail net sales and the estimated retail value of Marimekko products sold by other retailers. The estimated retail value is based on the company’s realized wholesale sales and licensing income. The estimate s based on wholesale sales and licensing income d o not typically include possible retail discounts. Brand sales do not include VAT, and the key figure is not audited. Some licensees provide exact retail figures, in which case these figures are used in reporting brand sales. For other licensing agreements, Marimekko’s own retail coefficients for different markets are used. Licensing income is reported as brand sales when licensed products are sold. The change percentages in the table were calculated on exact figures before the amounts were rounded to millions of euros. The figure for comparable earnings per share takes account of similar items as comparable operating profit; tax effect included. Reco nciliation of alternative key figures to IFRS and management’s discretion regarding items affecting comparability are presented in the table section of the Interim Report .
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5 (34 ) Interim Report 1– 9/2026 TIINA ALAHUHTA President and C EO ”Marimekko’s net sales grew and operating profit improved in the third quarter, as a result of the excellent development of international sales. The continued challenging market situation affected sales in Finland. Marimekko’s net sales for the third quarter incre ased by three percent and amounted to EUR 52.1 million (50.8). The development of both our wholesale as well as retail sales was excellent in all of our international market area s, and our total international sales grew by 16 percent. The operating environment in Finland remained challenging and, in the price -sensitive market conditions, domestic net sales decreased by nine percent as wholesale sales, in particular, decreased year -on-year. Our results in July –September were boosted by net sales growth and our improved relative sales margin. Our c omparable operating profit increased by three percent to EUR 13.0 million (12.7), representing 25.0 percent of net sales (24.9). In January –September, our net sales increased by two percent to EUR 137.5 million (134.8), as both retail and wholesale sales increased across all of our international market area s. Our comparable operating profit came to EUR 23.4 million (23.5), representing 17.0 percent of net sales (17.5). As is typical for our industry, the fourth quarter is important for Marimekko in terms of sales. The operating environment is highly volatile, and the development of consumer confidence and consumer purchasing behavior, especially in our domestic market, naturall y has an impact on our business. Thus, we now expect our net sales in Finland to decrease in 2026, while we estimate our international net sales to grow on the comparable year . Our financial guidance for 2026 remains unchanged: the Marimekko Group’s net sales for 2026 are expected to grow from the previous year, and the comparable operating profit margin is estimated to be approximately some 16 –19 percent. The excellent development of international net sales in a globally challenging general market situation is a testament to the strong appeal of our brand and the results of our systematic brand -building work in the highly competitive fashion and design market. In the third quarter, we continued our consistent efforts to expand the global Marimekko phenomenon and scale our profitable growth. In July, an exh ibition showcasing extensively Marimekko’s design philosophy was opened in Kyoto . The exhibition will tour Japanese museums for the next two years. Marimekko ’s Art of Flowers tour, which features floral de signs, also made its way around key cities in Asia. At the beginning of August, we launched our Spring/ Summer 2027 collection with an impressive show at Copenhagen Fashion Week gathering an audience of several hundred influencers, journalists and buyers from around the world. In Helsinki, new prints created for Marimekko by the Danish textile designer Vibeke Rohland were showcased to industry professionals and the broader Marimekko communi ty: The prints were featured in the interior decor of the Futuro House seen at Helsinki Design Week and as part of a limited -edition capsule collection created by the fashion designer Rolf Ekroth. In addition to brand events that generate interest, brand ambassadors play a significant role in building awareness, especially
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6 (34 ) Interim Report 1– 9/2026 in Asia, which is an important market for Marimekko. In July, Thai actor and TV host Toey Jarinporn became Marimekko ’s first -ever brand ambassador. Our store network was expanded further in the third quarter with the opening of four new Marimekko stores or shop -in-shops, along with 11 smaller shop -in-shops or pop -up stores, across Asia. A large part of these larger and smaller openings was in the Philippines and Indonesia , which are new markets for Marimekko. In Indonesia, the grand opening of the new shop -in-shops was celebrated in style in September with a fashion show, among others . In addition, a Marimekko pop -up store delig hted customers in the iconic Galeries Lafayette department store in Paris. After the summer, uncertainties in the global economy have escalated further, and consumer confidence in Finland, for example, has sunken again after temporarily improving. Although the Finnish econom y has grown , driven by exports and investments, it is not yet widely reflected in the daily life of consumers, which is influenced by factors such as growing fear of unemployment, increased fuel prices, expectations for resurgent inflation and higher interest rates. Surveys indicate that women, in particular, have reduced their spending on specialty retail purchases over the past year. This has also been reflected in Marimekko’s sales in Finland, where the significance of price in purchasing decisions has been emphasiz ed further. With this domestic market economic climate in mind, we are continuously developing our collections so that our lifestyle assortment covers an even wider range of price points – without compromising on quality – and thereby serves customers even better than before in a more price -sensitive operating environment. Naturally , we hope that the strengthened economic growth in Finland will gradually begin to be reflected favorably in consumer buying behavior also in the premium segment in which we operate. I want to thank our customers in both Finland and the international markets for their trust in the Marimekko brand. The t rust we build every day through our products, actions and choices is also reflected in Marimekko being ranked among Finland’s ten most reputable companies for the ninth consecutive time in the Trust & Reputation survey conducted by Reputation and Trust Analytics. I want to express my gratitude to all of our employees and partners around the world for their determined work to grow the Marimekko phenomenon." Operating environment The following outlook information is based on materials published by the Confederation of Finnish Industries EK and Statistics Finland. The development of the global economy has remained uncertain . The continued war in Iran has kept the prices of oil and gas high , which accelerates in flation and increases pressure to raise interest rates . During the early fall, e quity markets ha ve fluctuated considerably. Despite the high level of uncertaint y, growth estimates for 2026 have become only slightly lower and the global economy is still expected to gr ow by approximately 3 percent . Among the major economic regions, the figures are the weakest in Europe, where growth is estimated to be about 1 percent this year. The economic situation of Finnish companies remains weaker than average and varies clearly between industries. The outlook for the coming months is cautiously optimistic , while the weak demand remains the single biggest hindrance to growth . In Oct ober , the confidence indicator for retail trade decrease d from its high level but is still above the long -term average. In the retail trade, the economic situation remains weak er than average . The growth in s ales volumes is muted and continues to be constrained by subdued demand. However, sales expectations for
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7 (34 ) Interim Report 1– 9/2026 the coming months have remained positive. Consumer confidence , which temporarily strengthened during the summer, weakened in September and fell clearly in October . Consumer s’ outlook concerning the current state of their personal finances and their development over the next year were at a very low level. Consumers considered the timing for purchasing durable goods to be even more unfavorable than before , their spending intentions fell to very low levels , and their views concerning unemployment have become bleak er. In addition , consumers ’ expectations concerning the current state of the Finnish economy weakened and their outlook on the development of the economy over the next year we re muted . Consumers ’ estimates and outlook concerning inflation rose. (Confederation of Finnish Industries EK: Business Tendency Survey, October 202 6; Confidence Indicators, October 2026 . Statistics Finland: Consumer Confidence, October 202 6.) The working -day- adjusted turnover of Finnish retail trade grew by 4.8 percent in September compared to the previous year, and the volume of sales increased by 4.2 percent. The cumulative working -day- adjusted turnover of retail trade in January –September of 2026 increased by 3. 7 percent while the volume of sales grew by 3. 2 percent. (Statistics Finland: Turnover of Trade, September 2026 , preview .) Net sales Net sales in the third quarter In the July –September period of 202 6, Marimekko’s net sales increased by 3 percent and amounted to EUR 52.1 million (50.8) . Net sales grew especially as a result of the excellent development of wholesale and retail sales in all international market areas. In total, international sales grew by 16 percent . On the other hand, net sales development was weakened in particular by the decrease in domestic wholesale sales. In total, net sales in Finland decreased by 9 percent . Marimekko’s omnichannel retail sales in the third quarter grew in all market areas except in Finland . In international market areas, retail sales grew by 19 percent. In total, retail sales increased by 2 percent globally. Global w holesale sales also grew by 2 percent, as wholesale sales in the international market areas saw excellent development and increased by 14 percent. Licensing income grew by 4 0 percent. In the July –September period, net sales in Finland totaled EUR 25.1 million ( 27.5 ). In 2026, non- recurring promotional deliveries in domestic wholesale sales are expected to grow from the comparable year and be weighted in the second half of the year , with the growth of promotional deliveries taking place in the fourth quarter of the year. Thus, as expected, non- recurring promotional deliveries in the third quarter were below the comparison period , impacting wholesale sales in Finland , which decreased in total by 18 percent. In the third quarter , domestic retail sales in the price -sensitive market conditions, were 4 percent lower than in the comparison period. Comparable retail sales, which exclude new or significantly renewed stores in both the review and comparison period, decreased by 4 percent. In the company’s second -biggest market area , the Asia -Pacific region, net sales grew by 10 percent and amounted to EUR 12.0 million ( 10.8 ). Retail sales in the region increased by 11 percent and wholesale sales grew by 9 percent . In addition, licensing income increased from the comparison period, when no licensing income was recorded .
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8 ( 34 ) Interim Report 1–9 /2026 Net sales in the January –September period In the January –September period of 2026, t he Group’s net sales i ncreased by 2 percent and totaled EUR 137.5 m illion ( 134.8 ). Net sales were boosted in particular by the growth of retail and wholesale sales in all international market areas. On the other hand, net sales were weakened by decreased retail sales in Finland in the challenging operating environment . In total, international sales increased by 11 percent and net sales in Finland decreased by 6 percent. Marimekko’s omnichannel retail sales in the international market areas grew by 20 percent in the review period . Globally omnichannel retail sales were on a par with the comparison period as domestic retail sales decreased . Wholesale sales developed well in all in ternational market areas and grew in total globally by 3 percent . L icensing income increased by 48 percent. Net sales in Finland in the January– September period amounted to EUR 67.3 million ( 71.5 ), as in particular retail sales decreased in the price -sensitive and campaign -driven domestic operating environment by 7 percent . Comparable retail sales decreased by 7 percent. Wholesale sales in Finland were down by 5 percent. However, non- recurring promotional deliveries in domestic wholesale sales increased from the comparison period . Net sales in the Asia -Pacific region increased by 9 percent and amounted to EUR 31.5 million (29.0 ). In the January –September period, retail sales in the region grew by 22 percent and wholesale sales by 3 percent . Licensing income increased from the comparison period, when no licensing income was recorded in the region. NET SALES BY MARKET AREA (EUR million) 7–9 / 202 6 7–9/ 2025 Change, % 1–9 / 2026 1–9 / 2025 Change, % 1– 12/ 2025 Finland 25.1 27.5 -9 67.3 71.5 -6 102.4 International sales 27.1 23.3 16 70.2 63.3 11 87.2 Scandinavia 7.0 6.0 16 16.5 14.7 12 20.5 Europe 4.5 3.7 24 12.9 11.5 12 15.3 North America 3.5 2.7 29 9.4 8.2 15 11.5 Asia -Pacific 12.0 10.8 10 31.5 29.0 9 40.0 Total 52.1 50.8 3 137.5 134.8 2 189.6 All figures in the table have been individually rounded to millions of euros, so there may be rounding differences in the totals. A more comprehensive table with breakdown into retail sales, wholesale sales and licensing income by market area can be found in the table section of the Interim Report . Financial result Marimekko’s operating profit in the July –September period of 202 6 totaled EUR 12.7 million (12.5 ). Operating profit included EUR - 0.3 million ( -0.1) from items affecting comparability, and comparable operating profit totaled EUR 13.0 million ( 12.7) . Operating profit was increased by growth of net sales and improved relative sales margin. On the other hand, increased fixed costs had a negative impact on the operating profit development.
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9 (34 ) Interim Report 1– 9/2026 In the third quarter, relative sales margin improved in particular as a result of margins per product being at a good level. Fixed costs grew , due to an increase in personnel expenses , driven by general pay increases , among other s, as well as due to higher marketing investments . The Group’s cumulative operating pro fit amounted to EUR 22.6 million ( 23.1 ). Operating profit included EUR - 0.8 million ( -0.4) from items affecting comparability, and comparable operating profit totaled EUR 23.4 million ( 23.5 ). Operating profit was weakened especially by increased fixed costs. On the other hand, improved relative sales margin and an increase in net sales had a positive impact on operating profit development . In the January –September period of 2026, fixed costs increased due to significant growth in marketing costs com pared to the same period a year ago as well as an increase in personnel expenses, driven in particular by general pay increases in different markets . Relative sales margin was improved by unrealized exchange rate differences, increased licensing income and lower logistics costs . Marketing expenses in the January –September period of 2026 amounted to EUR 8.3 million (6.8), or 6 percent of the Group’s net sales ( 5). The Group’s depreciation in the review period totaled EUR 8.1 million ( 7.4 ), representing 6 percent of net sales ( 5). In the January –September period , operating profit margin was 16.4 percent ( 17.1 ) and comparable operating profit margin was 1 7.0 percent ( 17.5 ). In the third quarter of the year , operating profit margin amounted to 24.4 percent ( 24.6 ) and comparable operating profit margin was 25.0 percent ( 24.9 ). Net financial items in the review period totaled EUR - 0.4 million ( -1.3), or 0 percent of net sales (1). Financial items include exchange rate differences amounting to EUR 0.2 million ( -0.8), of which EUR 0.3 million ( -0.7) were unrealized. The impact of lease liabilities on interest expenses was EUR -0.7 million ( -0.8). The Group’s result before taxes in the January –September period of 2026 was EUR 22.2 million (21.8 ). Net result for the period was EUR 17.9 million ( 17.4 ) and earnings per share were EUR 0.44 (0. 43). Balance sheet The consolidated balance sheet total as at 3 0 September 2026 was EUR 121.7 million ( 117.6 ). Equity was EUR 72.1 million ( 67.2 ), or EUR 1.78 per share ( 1.66 ). Non -current assets at the end of the review period stood at EUR 35.2 million ( 38.5). Lease liabilities amounted to EUR 2 8.4 million ( 31.5 ). Marimekko did not have other financial liabilities and no interest -bearing credit facilities were drawn down at the end of the review or comparison period . The Group had unused committed credit lines of EUR 22.6 million (22. 4). At the end of September , net working capital was EUR 42.5 million ( 43.2 ). Inventories were EUR 39.5 m illion (40.6 ). Cash flow and financing In the July –September period of 202 6, cash flow from operating activities was EUR 5.3 million (11.4 ), or EUR 0. 13 per share ( 0.28). Compared to the same period a year ago, cash flow from operating activities was weakened in particular by a change in working capital as current non-
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10 (34 ) Interim Report 1– 9/2026 interest -bearing trade receivables and inventories increased from the comparison period . In addition , the decrease in current non- interest -bearing liabilities had a negative impact on working capital. Cash flow before cash flow from financing activities in the third quarter of the year was EUR 5.3 million (10.9 ). In the January –September of 2026, cash flow from operating activities was EUR 13.0 million (12.1 ), or EUR 0.32 per share ( 0.30). Cash flow from operating activities was improved by a smaller increase in inventories than in the same period a year ago . Cash flow before cash flow from financing activities in the January –September period was EUR 12.1 million (9.9). The Group’s cash and cash equivalents at the end of Septem ber amounted to EUR 22.8 million (17.1) . In the comparison period , in particular the payment of an extraordinary dividend in April 2025 decreased the Group’s cash and cash equivalents. In the review period, the dividends paid amounted to EUR 17.0 million (26.4 ) and acquisition of own shares totaled EUR 2.3 million (0.0) . Return on capital employed (ROCE) remained at a good level of 32.0 percent ( 33.0 ). Marimekko had no interest -bearing credit facilities drawn down at the end of the review or the compar ison period . The Group had unused committed credit lines of EUR 22. 6 million ( 22. 4), including short -term revolving credit facilities, which include covenants, totaling EUR 6.0 million. The Group’s equity ratio at the end of the period was 60.0 percent ( 57.9 ). Gearing was 7.8 percent ( 21.5 ). The ratio of net debt to 12 -month rolling EBITDA was 0.1 3 (0.34) , i.e. well below the company’s long -term goal, with the goal being a maximum of 2. Invest ments The Group ’s gross investments in January –September peri od of 2026 were EUR 1.2 million (2.2) , or 1 percent of net sales (2). The inv estments were mainly devoted to technology and to revamping the store network . New lease agreements included in balance sheet (IFRS 16) are not included in gross investments in the review or compar ison period . Store network Omnichannel retail sales, operated by the company itself or its partners, represents the core of Marimekko’s distribution strategy. It is complemented with select ed physical and online retailers to gain scale and access to new customers. Even in the digitalized business, physical stores play an important role not only as a distribution channel but also as the hearts of brand culture, supporting, in addition, sales online and in o ther channels. Good store locations that cater to Marimekko’s target audience are essential for the company. The operations and efficiency of the store network are continuously assessed and developed. During the third quarter of 2026 , a new Marimekko store was opened both in Mito and in Seoul and two ne w shop -in-shop s were opened in Jakarta . Store network was also developed in other ways: four smalle r, less than 30 m2 shop -in-shops were opened in Manila and one in Bali. In addition, the Marimekko store in Espoo was relocated within the Sello shopping mall and was reopened with an increase in size and r emodeled according to the latest store concept. Pop -up stores in Tokyo, Osaka, Paris, Taichung, Taipei, Jakarta and Bangkok also delighted customers. On the other hand, one Marimekko store was closed in each of Hong Kong, Singapore and Kuala Lumpur . At the end of September , there were a total of 18 4 Marimekko stores and shop -in- shops (169) worldwide.
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11 ( 34 ) Interim Report 1–9 /2026 E-commerce plays an important role in Marimekko’s omnichannel retail. In the third quarter , Marimekko’s o nline sales grew from the comparison period . In total, the company’s own and partner -operated Marimekko online stores serve customers in 39 countries. In addition, Marimekko also has distribution through other online channels. STORES AND SHOP -IN -SHOPS 30.9.2026 30.9 .2025 31.12.2025 Finland 67 67 67 Scandinavia 8 8 8 Europe 4 2 3 North America 2 2 2 Asia -Pacific 10 3 90 94 Total 18 4 169 174 A more comprehensive table with breakdown into the company’s own retail stores, retailer -owned Marimekko stores and shop- in -shops can be found in the table section of the Interim Report . Perso nnel In the January –September period of 202 6, the number of employees, expressed as full -time equivalents, averaged 4 90 (4 85 ) and at the end of the period , the Group had 481 (4 77) employees. By market area, the number of Marimekko ’s personnel at the end of September was as follows: Finland 391 ( 391 ), Scandinavia 37 ( 38 ), Europe 6 (2 ), North America 1 8 (1 4) and the Asia -Pacific region 29 (3 2). The personnel at company- owned stores, expressed as full -time equivalents, totaled 2 23 (2 22) at the end of the review period . Shares and shareholders Share capital and number of shares At the end of the period under review , the company’s fully paid -up share capital, as recorded in the Trade Register, amounted to EUR 8,040,000 and the number of shares totaled 40,649,170 . Shareholdings According to the book -entry register, Marimekko had 43,249 shareholders (38,700) at the end of September 202 6. Of the shares, 12. 07 percent (1 4.45 ) were owned by nominee- registered or non- Finnish holders . During the review period, Marimekko both transferred and acquired its own shares. On 30 September 2026, Marimekko Corporation held 234,000 of its own shares, corresponding to approximately 0.5 8 percent of the total number of the company’s shares. O n 7 July 2026, the company transferred a total of 81,890 Marimekko shares previously acquired by the company free of charge to the members of the company ’s Management Group in accordance with the terms of the Performance Share Plan 2022– 2026. On 14 September 2026, Marimekko Corporation’s Board of Directors decided to acquire 150,000 of the company’s own shares based on the authorization granted by the Annual General Meeting held on 16 April 2026. The acquisitions of the own shares commenced on 15 September 2026, and the program was completed after the review period on 1 October 2026. Following these acquisitions , Marimekko holds 235,900 of its own shares, corresponding to approximately 0.58 percent of the total
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12 (34 ) Interim Report 1– 9/2026 number of the company’s shares. Marimekko shares held by the company carry no voting rights and no entitlement to dividends. Monthly updated information on the largest shareholders can be found on the company’s website at company.marimekko.com under Investors/Share information/Shareholders. Share trading and the company’s market capitalization In the January –September period of 202 6, a total of 9,122,622 Marimekko shares (4,100,286 ) were traded on Nasdaq Helsinki, representing 22. 44 percent (10.09 ) of the shares outstanding . The total value of the share turnover in the period under review was EUR 95.3 million (52.2 ). The lowest price of the share was EUR 9.06 (10.78 ), the highest was EUR 13.24 (14.28) and the average price was EUR 10.46 (12.72). At the end of September , the closing price of the share was EUR 9.54 (12. 52). The company’s market capitalization on 3 0 September 2026 , excluding the Marimekko shares held by the company, was EUR 385.6 million (508.0). Authorizations The A nnual General Meeting on 16 April 2026 authorized the Board of Directors to decide on the acquisition of a maximum of 150,000 of the company’s own shares in one or more instalments. The number of shares represents approximately 0.4 percent of the total number of the company’s shares. The share s would be acquired with funds from the company’s non - restricted equity, which means that the acquisition would reduce funds available for distribution. The shares would be acquired otherwise than in proportion to the shareholdings of the shareholders through public trading on Nasdaq Helsinki Ltd at the market price prevailing at the time of acquisition and in accordance with the rules and regulations of Nasdaq Helsinki Ltd. The shares would be acq uired to be used as a part of the company’s incentive system, to be transferred for other purposes or to be cancelled. The Board of Directors is authorized to decide on all of the other terms and conditions of the acquisition of the shares. On 14 September 2026, Marimekko Corporation’s Board of Directors decided to acquire 150,000 of the company’s own shares based on the authorization. The acquisitions were completed after the review period on 1 October 2026, and the authorization has been exercised in full. Furthermore, the AGM on 16 April 2026 authorized the Board of Directors to decide on the issuance of new shares and the transfer of the company’s own shares in one or more instalments. The total number of shares to be issued or transferred pursuant to the authorization may not exceed 200,000 n ew or the company’s own shares, which represents approximately 0.5 percent of the total number of the company’s shares. The Board may decide on a directed share issue in deviation from the shareholders’ pre -emptive rights for a weighty financial reason, su ch as the company’s incentive system, personnel share issue, developing the company’s capital structure, using the shares as consideration in possible company acquisitions or carrying out other business transactions. The share issue may be subject to a cha rge or free. A directed share issue can be free of charge only if there is a particularly weighty financial reason for the company and taking into account the interests of all of the company’s shareholders. The subscription price of the new shares and the amount paid for the company’s own shares would be recorded in the company’s reserve for invested non- restricted equity. The Board of Di rectors is authorized to decide on all of the other terms and conditions of the acquisition of the shares. T he Board of Directors decided on 2 July 2026 to use the authori zation and to transfer a total of 81,890 Marimekko shares held by the company free of charge to the members of the company ’s Management Group in accordance with the terms of the Performance share plan 2022 –2026. The authorization is valid until 16 October 2027 and based on it, additional 118,110 own shares can be issued or transferred .
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13 ( 34 ) Interim Report 1–9 /2026 During the review period, the Board of Directors had no valid authorizations to issue convertible bonds or bonds with warrants. End of the Performance share plan 2022 –2026 The second and final earnings period of Marimekko ’s Performance share plan 2022 –2026 ended on 30 June 2026. The targets set for the performance period were achieved by 72.33 percent, and Marimekko announced on 2 July 2026 that the Board of Directors decided to pay the earned rewards half in company shares and half in cash. The cash part of the reward is intended to cover the taxes and tax- like payments incurred by the participant. In accordance with the terms of the P erformance share plan 2022 –2026, a total of 81,890 Marimekko shares held by the company were transferred on 7 July 2026 free of charge to the members of the company’ s Management Group participating in the plan. The shares are subject to a two -year transfer restriction. Financial goals On 13 August 2026 , the Board of Directors of Marimekko set new, medium- term (3 –5 years) financial goals for the company, given the current challenging operating environment. In line with these goals, the company aims to achieve annual net sales growth of 10% and a comparab le operating profit margin of 20%. Marimekko ’s long -term financial goals, set in 2022, remain unchanged. Marimekko’s financial goals Medium -term (3–5 years) Long -term Annual growth in net sales 10% 15% Comparable operating profit margin 20% 20% Ratio of net debt to EBITDA at year end max. 2 max. 2 The intention is to pay a yearly dividend; percentage of earnings per share allocated to dividends at least 50% at least 50% Events after the end of the review period Acquisitions of the company’s own shares completed On 1 Oct ober 2026, Marimekko announced that it has completed the acquisitions of the company’s own shares, the start of which was decided by the Board of Directors on 14 September 2026. During the time period from 15 September 2026 to 1 October 2026, Marimekko acquired 150,000 own shares, based on the authorization granted by the Annual General Meeting held on 16 April 2026. The authorization has now been fully utilized.
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14 (34 ) Interim Report 1– 9/2026 Changes in management On 14 October 2026, Marimekko announced that Mikki Inkeroinen, Marimekko’s Chief Technology Officer and member of the Management Group, step ped down from his position as of 14 October 2026. Vice President, Digital & Transformation Jarno Kartela will be leading the company’s Technology team in interim. Detailed information on members of the Management Group can be found on the company’s website at company.marimekko.com under Investors/Governance/Management Group. Major risks and factors of uncertainty Marimekko’s business exposes the company to various risks. The risks and uncertainties presented below have the potential to substantially weaken Marimekko’s business conditions, sales, financial results and position. Marimekko’s risk management practices are described in the Corporate Governance Statement. The economic and political operating environment Risks related to the economic and political operating environment may affect Marimekko’s business in all of its main markets. The risks are, in particular, emphasized in Finland and in other key countries for Marimekko business, such as Sweden and Japan. Wars and g lobal tensions in geopolitics and trade relations create significant uncertainties with regard to the development of the world economy. This is reflected in consumer confidence, purchasing power and behavior in all of Marimekko’s market areas. Weak consumer confidence and purchasing power may have a significant unfavorable impact on Marimekko’s sales and profitability. Tensions in geopolitics and trade policy may lead to, for example, trade disputes, increasing tariffs, export and import restrictions, military action and economic sanctions, that may affect the reliability and efficiency of the company’s value chain as well as Marimekko’s competitiveness and business prerequisites in different markets. Pandemics and epidemics may also have a negative impact on Marimekko’s sales, profitability and cash flow as well as the reliabi lity and efficiency of the company’s supply chain. Uncertainties and sudden market movements, development of inflation, changes in the price development of production factors, exchange rates (particularly the US dollar) and taxation, as well as rising interest rates may affect Marimekko’s financial positio n. Marimekko is also exposed to labor market disputes, and strikes and other labor market disturbances may have a negative impact on the company’s business . In addition, widely spread protests or similar disturbances in key market areas of the company or in central locations for its business may have a negative impact on the company’s operations. Marimekko continuously monitors the development of the economic and political operating environment, takes various scenarios into account in the management of the company’s business, and adapts its operations as necessary. The company’s strong balance shee t and stable financial position introduce flexibility also in exceptional circumstances. Risks are also mitigated by striving for diverse geographical presence in distribution and throughout the value chain.
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15 (34 ) Interim Report 1– 9/2026 Increased tariffs in the United States have a direct impact on only a small part of Marimekko’s business, as the entire North American market accounted for 6 percent of the Group’s net sales in 202 5 and the company has tak en diverse measures to minimize the negative impacts of the tariffs. The retail environment, customers and partners The company’s growth in the longer term is based, in particular, on omnichannel retail: on increasing e -commerce, on partner- led retail in Asia, as well as on enhancing the sales per square meter of existing stores in the company’s main market areas. In addition, the company expands its distribution through physical an d digital wholesale channels appropriate for the Marimekko brand. The Asia -Pacific region is Marimekko’s second -biggest market area , and especially Asia plays an important role in the company’s international growth. The importance of omnichannel business in the retail trade has been emphasized over the past years. International e -commerce has increased the options available to consumers and the significance of big e -commerce operators. The digitization of retail and weak macroeconomic situation has deepened the financi al difficulties for some wholesale customers in the fashion and design sector. Uncertainties in the world economy may further deepen these difficulties. Structural changes in the retail environment may have an impact on Marimekko’s distribution channel dec isions, the prioritization of different distribution channels, sales and profitability. The structural changes may also lead to the creation of new revenue models. Risks related to the sales structure may have an impact on the company’s financial position. Maintaining competitiveness in a n uncertain, rapidly changing operating environment being revolutionized by digitization demands agility, efficiency, flexibility and constant re -evaluation of operations from the company. Major partnership choices, partnering contracts, licensing and other collaboration agreements involve considerable risks , which can be increased by uncertainties in the world economy . Store lease agreements in Finland and abroad also contain risks. With the company’s internationalization and the growing interest in its brand, risks related to gray exports may increase, which may have an impact on the company’s sales and profitability, among others. In addition, risks related to changes in the company’s cost structure as well as the liquidity of customers and partners may also have an impact on the company’s financial position. Other significant risks include risks related to changes in the company’s design, product assortment and product distribution and pricing. Increasing costs create pressure to raise prices while the uncertainties in the global econo my and the operating environment may affect consumers’ purchasing power , consumer confidence and purchasing behavior negatively. Fast reactivity and competitive pricing are crucial in a price -sensitive and campaign -driven operating environment. The company’s ability to design, develop and commercialize new products that meet consumers’ expectations while ensuring efficiency and quick reactions in production, sourcing and logistics as well as active work towards sustainability has an impact on the company’s sales and profitability. Supply chain The risks related to Marimekko’s supply chain are associated especially with production, procurement and logistics processes and their reliability, flexibility and efficiency, sustainability as well as fluctuations in the prices of raw materials and other factors of production. For example, trade and geopolitical tensions, cyber security incidents and possible epidemics and pandemics as well as other uncertainties in the global economy may cause even significant disruptions in production and logistics chain s that may have a negative impact on the company’s sales, profitability and cash flow. In addition, fires, natural disasters and
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16 (34 ) Interim Report 1– 9/2026 machine breakdowns can cause disturbances or damage to supplier’s factories, Marimekko’s own textile printing factory or the operations of the logistics chain. Overall, it is of utmost importance to safeguard the operational reliability of the company’s own printing factory in all circumstances. The availability of biogas, among others, is critical to the operations of the company’s own printing factory. The company has a business interruption insurance for assets and business operations that covers insured risks of damage in line with the terms and conditions of the insurance. Changes in prices of logistics, raw materials, energy and other factors of production may affect Marimekko’s sales and profitability. The ongoing wa r in Iran may increase production and logistics costs . Early commitment to product orders from partner suppliers, which is typical of the industry, means that changes in costs affect the company with a delay. These early commitments have partly been further emphasized due to different factors, undermining the company’s ability to optimize product orders and respond to rapid changes in demand and supply environment or in consumer behavior, which also increases risks related to inventory management and cash flow. To avoid even earlier commitment and the possible resulting unoptimized production volumes as well as to mitigate the impacts of , for example, tariffs, Marimekko may need to partly use faster but more emission -intensive air freight instead of sea transport. In addition to supply chain disruptions and even earlier commitment to product orders, risks related to inventory and product flow management increase as product distribution is expanded and operations are diversified, which may have a weakening impact on the company’s sales, cash flow as well as on relative profitability. Substantial non -recurring wholesale promotions can also increase risks related to procurement, transport and inventory management, which can be further increased by uncertainties in the global economy . Any delays or disturbances in supply, or fluctuations in the quality of products, may have a harmful impact on business, also on substantial non -recurring wholesale promotions. Marimekko works actively in various ways to ensure competitive and functioning production and logistics chains, to mitigate increased costs and other negative impacts, to avoid delays, and to enhance inventory management, which is even more important than before due to geopolitical tensions, trade disputes and increased tariffs. Sustainability Development work related to sustainability requires versatile investments and can thus impact Marimekko’s sales and profitability. Risks and opportunities with regard to Marimekko’s sustainability work and targets include, for example, changes in consumer behavior and in the company’s product portfolio weightings, stakeholder expectations as well as new tools for transparency in the value chain, continuously evolving best practices in the industry as well as changing regulation that may affect, for example, the company’s products, communications and the value chain more broadl y. The company’s ability to anticipate changes, react to them and actively advance its sustainability targets throughout the value chain plays a key role with regard to the company’s competitiveness. Marimekko primarily uses partner suppliers to manufacture its products. Global supply chains in the fashion and design business are complex, which despite active sustainability work, makes it challenging for companies to ensure the sustainability of the entire supply chain. The sustainability elements of manufacturing play a pivotal role, in particular the social aspects (e.g. human rights, working conditions and remuneration) and environmental aspects (e.g. production methods and raw materials and chemical s used) related to the supply chain, as well
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17 (34 ) Interim Report 1– 9/2026 as transparent communications on these issues in compliance with changing legislation. These sustainability topics apply to Marimekko’s sourcing and the company’s own production as well as to licensed products. Through its material choices, among other things, Marimekko can reduce environmental impacts , support responsible sourcing practices and increase transparency in the supply chain . Therefore, the company is committed to increasing the share of, e.g., less emission -intensive and water -consuming materials, such as certified organic and recycled cotton, in its products and packaging. As a result of complex supply chains, uncertainties may pertain also to the use of certified materials. Marimekko’s determined sustainability work as well as compliance with ethical business practices and legislation are important in maintaining the trust of customers and other stakeholders; any failures or errors in these areas will involve reputation, fina ncial liability and business risks. The environment and climate change Climate change increases the likelihood of extreme weather phenomena and natural disasters, such as floods, forest fires, wildfires and storms. Extreme weather phenomena and natural disasters pose a risk to the operational reliability and efficiency of Mar imekko’s value chain. Climate cha nge -related heatwaves, droughts , water shortages, soil depletion and other changes may, for example , affect the availability and price of raw materials used in Marimekko’s products, such as cotton , as well as the availab ility and price of packaging materials . Extreme weather phenomena and natural disasters may also affect the availability of products if they cause damage to the company’s suppliers’ factories, the company’s own textile printing factory or hamper the logistics chains. In addition, Marimekko has stores and offices in areas in which extreme weather phenomena or natural disasters may occur, and if they damage stores or offices or cause momentary changes in consumer behavior, it may result in lost sales as well as e xpenses. Risks related to climate change are managed by, for example, striving to divers ify the material selection in use, increasing the share of materials with lower emission intensity and water consumption in Marimekko’s collections and exploring new material and production method innovations. Marimekko’s insurance program covers insured risks of damage in line with the terms and conditions of the insurance. Compliance Compliance with the applicable legislation, regulations and ethical business practices, as well as product safety and quality, are essential for Marimekko. Potential allegations, failures or mistakes can lead to, for example, reputation and business damage for the company, fines, claims for damages, or criminal charges. Internationalization increases the regulations applicable to the company’s operations and elevates the risk of potential allegations, failures and mistakes. Risks are prevented by focusing o n sustainability and compliance work as well as by ensuring product safety and continuous quality control. Intellectual property rights Intellectual property rights play a vital role in the company’s success, and the company’s ability to manage and protect these rights may have an impact on the company’s business, value and reputation. Agreements with freelance designers and fees paid to d esigners based on these agreements are also an essential part of the management of intellectual property rights. As the
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18 (34 ) Interim Report 1– 9/2026 company grows and internationalizes, the risks related to intellectual property rights in general may increase, in particular for the most renowned prints of the company. IT system s and i nformation security risks There are risks associated with information system reliability, dependability and compatibility. With digitization, the rapid development of technology, internationalization and geopolitical tensions, cybercrime and cyber -attacks as well as various other risks related to cyber security and personal data protection as well as risks related to information system reliability have increased considerably. DoS attacks, malfunctions in data communications or, for example, in the company’s own online store as well as system changes and replacements may disrupt business or result in lost sales. Personal data breaches can lead to cla ims for damages, fines and reputation risks. In order to ensur e the competitiveness of the company, it is important to actively utilize AI and other technologies , and systematically develop employees ’ competence on these tools and their safe use . Marimekko manages risks related to IT systems and information security with , for example, investments in technology as well as the systematic management and development of cyber security and training its personnel . In addition, the company has a cyber security insurance program. Personnel and competence Risks related to securing the necessary talent for international growth as well as risks related to key personnel can be significant. Marimekko’s competence development efforts include, for example, training of personnel, succession planning and performance management. These measures support a performance -oriented, diverse and inclusive culture. Market outlook and growth targets for 2026 There are significant uncertainties related to the development of the global economy, such as tensions related to geopolitics and trade relations. The war in Iran, rapid changes in trade polic ies as well as other uncertainties are reflected in consumer confidence, purchasing power and behavior and, as a result, can have a weakening impact on Marimekko’s business in 2026 . In addition, different disruptions in production and logistics chains as well as changes in these chains caused by uncertain ties may also have a negative impact on the company’s sales, profitability and cash flow. Finland, Marimekko’s important domestic market, traditionally represents about half of the company’s net sales. Sales in Finland in 202 6 are impacted by the uncertain general economy as well as the development of consumer confidence, purchasing power and behavior. While there are early signs of general economic recovery, t he operating environment in Finland has remain ed price -sensitive and campaign -driven , and consumer confidence has weak ened further , which have an impact on the business. The timing between quarters of the non - recurring promotional deliveries in Finnish wholesale sales an d their size typically vary on an annual basis. In 202 6, non- recurring promotional deliveries in wholesale sales are expected to grow from the comparable year and be weighted in the second half of the year , with the growth of promotional deliveries taking place in the fourth quarter of the year . Due to uncertainties in the market environment , net sales in Finland in 2026 are expected to decrease. International sales are estimated to grow in 202 6. In addition, net sales in the Asia -Pacific region, Marimekko’s second -largest market area , are expected to increase. All brick -and - mortar Marimekko stores and most online stores in Asia are partner- owned. In 202 6, the aim is to open approximately 1 5–20 new Marimekko stores and shop -in-shops, and most of the planned openings will be in Asia.
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19 (34 ) Interim Report 1– 9/2026 Licensing income in 202 6 is forecasted to grow . Due to the seasonal nature of Marimekko’s business, a major portion of the company’s euro - denominated net sales and operating result are traditionally generated during the second half of the year. Marimekko develops its business with a long -term view and aims to continue scaling its profitable growth in the upcoming years. In 202 6, fixed costs are expected to be up on the previous year. The general cost inflation continues to also affect Marimekko in 2026 . Personnel expenses are impacted, for example, by general pay increases in different markets. Marketing expenses are expected to increase (202 5: EUR 10. 5 million). Early commitments to product orders from partner suppliers, typical of the industry and partly further emphasized due to different factors, undermine the company’s ability to optimize product orders and respond to rapid changes in demand and supply environ ment and thus increases business risks. There are also uncertainties related to global production and logistic chains, which may , for example, in crease costs or cause delays, and thus have an impact on the company’s sales and profitability. The ongoing war in Iran may increase production and logistics costs . Marimekko works actively in various ways to ensure competitive and functioning production and logistics chains, to mitigate increased costs and other negative impacts, to avoid delays, and to enhance inventory management. Marimekko is monitoring particularly closely the changes in consumer confidence and purchasing power but also the development in global tensions and trade policy, the general economic situation as well as the impacts of different exceptional situations and disruptions, and adjusts its operations and plans accordingly. Financial guidance for 202 6 The Marimekko Group ’s net sales for 2026 are expected to grow from the previous year (2025: EUR 189.6 million). Comparable operating profit margin is estimated to be approximately some 16–19 percent (2025: 17.1 percent). Development of consumer confidence and purchasing power in the company’s main markets , in particular, cause significant volatility to the outlook for 2026. This development is strongly impacted by rapid changes and uncertainties in geopolitics and global trade policy, among others. In addition, different disruptions in global supply chains can cause volatility to the outlook. Uncertainties related to the development of net sales and result are described in more detail in the Major risks and factors of uncertainty section of the Interim Report .
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20 (34 ) Interim Report 1– 9/2026 Financ ial calendar for 2027 Marimekko Corporation’s results for the year 20 26 will be released on Thursday, 1 1 February 202 7 at 8.00 a.m. The Financial Statements and the Report of the Board of Directors 202 6 will be published in week 1 2, at the latest. The interim reports and the half -year financial report for 202 7 will be issued as follows: January –March on Wednesday, 1 2 May 2027 at 8.00 a.m., January –June on Thursday, 1 9 August 202 7 at 8.00 a.m., and January– September on Wednesday, 10 November 202 7 at 8.00 a.m. The Annual General Meeting 202 7 is planned to be held on Thursday, 1 5 April 202 7 at 2.00 p.m. Helsin ki, 3 November 202 6 Marimekko Corporation Board of Directors
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21 (34 ) Interim Report 1– 9/2026 Interim Report tables Consolidated income statement and comprehensive consolidated income statement Consolidated balance sheet Consolidated cash flow statement Consolidated statement of changes in shareholders’ equity Accounting principles Intangible and tangible assets Net sales by market area Net sales by product line Other information Group k ey figures Reconciliation of alternative key figures to IFRS Quarterly trend in net sales and earnings Stores and shop -in-shops Formulas for key figures
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22 ( 34 ) Interim Report 1–9 /2026 CONSOLIDATED INCOME STATEMENT (EUR million) 7–9 /2026 7–9 /2025 1–9 /2026 1–9 /2025 1– 12/2025 NET SALES 52.1 50.8 137.5 134.8 189.6 Other operating income 0. 0 0.0 0.1 0.1 0.1 Changes in inventories of finished goods and work in progress 0. 2 -1.2 3. 6 5.0 0.5 Raw materials and consumables -19. 9 -18.4 -55.9 -57.1 -75.3 Employee benefit expenses -9.1 -8.7 -28. 9 -27.2 -37.5 Depreciation and impairment -2.7 -2.5 -8.1 -7.4 -10.0 Other operating expenses -8.0 -7.5 -25. 6 -25.1 -35.4 OPERATING PROFIT 12.7 12.5 22.6 23.1 31.8 Financial income 0.2 0.1 0. 7 0.4 0.5 Financial expenses -0.4 -0.3 -1.0 -1.6 -1.9 -0.2 -0.2 -0.4 -1.3 -1.4 RESULT BEFORE TAXES 12.6 12.3 22.2 21.8 30.4 Income taxes -2.3 -2.5 -4.3 -4.4 -6.1 NET RESULT FOR THE PERIOD 10.2 9.9 17.9 17.4 24.4 Distribution of net result to equity holders of the parent company 10.2 9.9 17.9 17.4 24.4 Basic and diluted earnings per share calculated on the result attributable to equity holders of the parent company, EUR 0. 25 0.24 0.44 0.43 0.60 COMPREHENSIVE CONSOLIDATED INCOME STATEMENT (EUR million) 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 NET RESULT FOR THE PERIOD 10.2 9.9 17.9 17.4 24.4 Items that could be reclassified to profit or loss at a future point in time Change in translation difference -0.1 0.0 -0.2 0.4 0.2 COMPREHENSIVE RESULT FOR THE PERIOD 10.2 9.9 17.7 17.8 24.6 Distribution of the result to equity holders of the parent company 10.2 9.9 17.7 17.8 24.6
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23 ( 34 ) Interim Report 1–9 /2026 CONSOLIDATED BALANCE SHEET (EUR million) 30.9 .202 6 30.9 .2025 31.12.2025 ASSETS NON -CURRENT ASSETS Intangible assets 3.3 2.8 3.1 Tangible assets 31. 1 34.3 32.4 Other financial assets 0. 2 0.6 0.6 Deferred tax assets 0.6 0.8 0.7 35. 2 38.5 36.8 CURRENT ASSETS Inventories 39.5 40.6 35.6 Trade and other receivables 22.9 20.6 20.7 Current tax assets 1. 3 0.9 0.7 Cash and cash equivalents 22.8 17.1 36.6 86.6 79.1 93.6 ASSETS, TOTAL 121 .7 117.6 130.4
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24 ( 34 ) Interim Report 1–9 /2026 CONSOLIDATED BALANCE SHEET (EUR million) 30.9 .2026 30.9 .2025 31.12.2025 SHAREHOLDERS’ EQUITY AND LIABILITIES EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT COMPANY Share capital 8.0 8.0 8.0 Reserve for invested non -restricted equity 1.2 1.2 1.2 Treasury shares -2.2 -0.5 -0.5 Translation differences -0. 1 0.2 0.1 Retained earnings 65.1 58.3 65.4 Shareholders’ equity, total 72. 1 67.2 74.3 NON -CURRENT LIABILITIES Lease liabilities 20. 1 23.2 21.5 20. 1 23.2 21.5 CURRENT LIABILITIES Trade and other payables 21.2 18.9 26.4 Lease liabilities 8.3 8.3 8.2 29.6 27.2 34.6 Liabilities, total 49.7 50.4 56.1 SHAREHOLDERS’ EQUITY AND LIABILITIES, TOTAL 121.7 117.6 130.4
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25 ( 34 ) Interim Report 1–9 /2026 CONSOLIDATED CASH FLOW STATEMENT (EUR million) 1–9 /2026 1–9 /2025 1–12/2025 CASH FLOW FROM OPERATING ACTIVITIES Net result for the period 17.9 17.4 24.4 Adjustments Depreciation and impairments 8.1 7.4 10.0 Financial income and expenses 0. 4 1.3 1.4 Taxes 4.3 4.4 6.1 Share -based payments -0. 5 0.3 0.5 Cash flow before change in working capital 30.2 30.8 42.3 Change in working capital -11.7 -13.4 -0.9 Increase (- ) / decrease (+) in current non -interest -bearing trade receivables -2 .2 -2.9 -3.1 Increase (- ) / decrease (+) in inventories -3. 7 -5.4 -0.3 Increase (+) / decrease (- ) in current non- interest -bearing liabilities -5.8 -5.1 2.5 Cash flow from operating activities before financial items and taxes 18 .5 17.4 41.4 Paid interest and payments on other financial expenses -0. 9 -1.0 -1.3 Interest received and payments on other financial income 0. 3 0.4 0.5 Taxes paid -4.9 -4.8 -6.1 CASH FLOW FROM OPERATING ACTIVITIES 13.0 12.1 34.5
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26 ( 34 ) Interim Report 1–9 /2026 CONSOLIDATED CASH FLOW STATEMENT (EUR million) 1–9 /2026 1–9 /2025 1–12/2025 CASH FLOW FROM INVESTING ACTIVITIES Investments in tangible and intangible assets -1.2 -2.2 -2.9 Repayment of investments 0.3 - - CASH FLOW FROM INVESTING ACTIVITIES -0.9 -2.2 -2.9 CASH FLOW FROM FINANCING ACTIVITIES Acquisition of treasury shares -2.3 - - Payments of lease liabilities -7.0 -6.5 -8.7 Dividends paid -17.0 -26.4 -26.4 CASH FLOW FROM FINANCING ACTIVITIES -26.3 -32.8 -35.0 Change in cash and cash equivalents -14.2 -22.9 -3.4 Cash and cash equivalents at the beginning of the period 36.6 40.4 40.4 Effects of exchange rate fluctuations 0.4 -0.4 -0.3 Cash and cash equivalents at the end of the period 22.8 17.1 36.6 In addition, Marimekko has unused committed credit lines of EUR 22. 6 million (2 2. 4).
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27 ( 34 ) Interim Report 1–9 /2026 CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY (EUR million ) Equity attributable to equity holders of the parent company Share capital Reserve for invested non - restricted equity Treasury shares Translation differences Retained earnings Share - holders’ equity, total Shareholders’ equity, 1 Jan. 2025 8.0 1.2 -0.5 -0.1 66.9 75.5 Comprehensive result Net result for the period 17.4 17.4 Translation differences 0.4 0.4 Total comprehensive result for the period 0.4 17.4 17.8 Transactions with owners Dividends paid -26.4 -26.4 Share -based payments 0.3 0.3 Shareholders’ equity, 30 Sept. 2025 8.0 1.2 -0.5 0.2 58.3 67.2 Shareholders’ equity, 1 Jan. 202 6 8. 0 1.2 -0. 5 0. 1 65 .4 74 .3 Comprehensive result Net result for the period 17.9 17.9 Translation differences -0.2 -0.2 Total comprehensive result for the period -0.2 17.9 17.7 Transactions with owners Dividends paid -17.0 -17.0 Share -based payments 0.8 -1.2 -0.5 Acquisition of own shares -2.4 -2.4 Shareholders’ equity, 30 Sept. 2026 8.0 1.2 -2.2 -0.1 65.1 72.1
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28 (34 ) Interim Report 1– 9/2026 ACCOUNTING PRINCIPLES This Interim Report was prepared in compliance with IAS 34. Marimekko has applied the same accounting principles in this report as were applied in its financial statements for 2025 . The 202 6 quarterly results are unaudited. The full- year 202 5 figures are based on the audited financial statements for 2025 . There may be differences in totals due to rounding to the nearest thousand euros. Marimekko uses alternative performance measures (APM) and follows the related guidelines given by ESMA. Such key figures are, for example, comparable operating profit, comparable operating profit margin (%), comparable EBITDA and comparable earnings per share (EPS). The items affecting comparab ility are presented separately in a reconciliation of alternative key figures. The Group ’s management exercises its discretion when making decisions regarding the classification of the items affecting comparability. These items include, for example, restructuring costs, expenses related to ending employment contracts as well as exceptional and unexpected events. Brand sales are also presented as an alternative key figure, representing the reach of the Marimekko brand through different distribution channels. Preliminary Assessment of the Impact of Adopting IFRS 18 Presentation and Disclosure in Financial Statements The new standard, IFRS 18 Presentation and Disclosure in Financial Statements, becomes effective for annual reporting periods beginning on or after 1 January 2027. During 2025, the Group performed a preliminary assessment of the impacts of IFRS 18 and further refined this assessment during 2026. Based on the Group ’s current assessment, the impacts of IFRS 18 are expected to be: • the classification of credit limit commitment fees related to unused revolving credit facilities within operating category; • changes related to financial items, whereby fair value changes in investment instruments, interest income from bank accounts, and foreign exchange differences on internal loans will be included within the investing category ; and • presentation of the consolidated cash flow statement . Based on the Group ’s preliminary assessment, these changes are not expected to be material. The Group will continue its assessment of the impacts of IFRS 18 during the remainder of 2026. In the Group ’s financial reporting, alternative performance measures (APMs) are used alongside measures based on the IFRS financial statements to describe the development of the business and its profitability. According to a preliminary assessment, some of these altern ative performance measures may qualify as management -defined performance measures (MPMs) within the meaning of IFRS 18. For such measures, Marimekko will, where necessary, further specify the rationale for their use and the reconciliation to the appropriate subtotal presented in the IFRS financial statements.
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29 ( 34 ) Interim Report 1–9 /2026 INTANGIBLE AND TANGIBLE ASSETS (EUR million ) Inta ngible assets Tangible assets Right -of-use assets Other Total Acquisition cost, 1 Jan. 2025 11.3 85.8 27.7 113.6 Translation differences 0.0 -1.6 -0.6 -2.2 Increases 1.4 7.7 0.9 8.6 Decreases -2.5 -1.8 -3.6 -5.5 Acquisition cost, 30 Sept. 2025 10.2 90.2 24.4 114 .5 Accumulated depreciation, 1 Jan. 2025 9.6 57.5 22.8 80.3 Translation differences 0.0 -1.2 -0.6 -1.8 Accumulated depreciation of decreases -2.5 -1.8 -3.6 -5.4 Depreciation during the period 0.2 6.4 0.7 7.2 Accumulated depreciation, 30 Sept. 2025 7.4 60.9 19.3 80.2 Book value, 30 Sept. 2025 2.8 29.2 5.0 34 .3 Acquisition cost, 1 Jan. 2026 7.6 90.7 24.2 114.9 Translation differences -0.1 1.0 0.2 1.2 Increases 0.6 5.5 0.7 6.2 Decreases -2.4 - -1.5 -1.5 Acquisition cost, 30 Sept. 2026 5.7 97.2 23.6 120.8 Accumulated depreciation, 1 Jan. 2026 4.5 63.3 19.2 82.5 Translation differences -0.1 0.8 0.2 1.0 Accumulated depreciation of decreases -2.4 - -1.5 -1.5 Depreciation during the period 0.4 6.9 0.9 7.7 Accumulated depreciation, 30 Sept. 2026 2.4 71.0 18.7 89.7 Book value, 30 Sept. 2026 3.3 26.2 4.8 31.1
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30 ( 34 ) Interim Report 1–9 /2026 NET SALES BY MARKET AREA (EUR million) 7–9/ 2026 7–9 / 2025 Change, % 1–9 / 2026 1–9/ 2025 Change, % 1– 12/ 2025 Finland 25.1 27.5 -9 67.3 71.5 -6 102.4 Retail sales 16.7 17.4 -4 45.3 48.5 -7 70.9 Wholesale sales 8.1 9.9 -18 21.3 22.4 -5 30.5 Licensing income 0.2 0.2 6 0.7 0.6 16 1.0 Scandinavia 7.0 6.0 16 16.5 14.7 12 20.5 Retail sales 2.3 2.0 12 5.8 5.2 12 7.3 Wholesale sales 4.8 4.0 18 10.6 9.4 12 13.1 Licensing income - - 0.1 0.1 100 0.1 Europe 4.5 3.7 24 12.9 11.5 12 15.3 Retail sales 1.3 0.9 46 3.7 2.8 33 4.3 Wholesale sales 3.1 2.7 18 8.7 8.4 4 10.5 Licensing income 0.1 0.1 0 0.4 0.3 38 0.5 North America 3.5 2.7 29 9.4 8.2 15 11.5 Retail sales 1.8 1.4 24 4.9 4.2 17 6.4 Wholesale sales 1.7 1.2 38 4.2 3.6 15 4.6 Licensing income 0.1 0.1 -1 0.3 0.4 -24 0.5 Asia -Pacific 12.0 10.8 10 31.5 29.0 9 40.0 Retail sales 2.0 1.8 11 6.5 5.3 22 8.8 Wholesale sales 9.8 9.0 9 24.4 23.7 3 31.0 Licensing income 0.2 - 0 0.5 0.0 0.3 International sales, total 27.1 23.3 16 70.2 63.3 11 87.2 Retail sales 7.3 6.2 19 20.9 17.5 20 26.8 Wholesale sales 19.3 16.9 14 47.9 45.1 6 59.1 Licensing income 0.4 0.2 72 1.3 0.8 75 1.3 Total 52.1 50.8 3 137.5 134.8 2 189.6 Retail sales 24.1 23.5 2 66.2 66.0 0 97.7 Wholesale sales 27.5 26.8 2 69.2 67.5 3 89.6 Licensing income 0.6 0.4 40 2.0 1.4 48 2.3 Marimekko reports its own e -commerce net sales as part of retail sales and sales through other online channels as part of wholesale sales. Wholesale net sales are recognized according to the geographical location of the wholesale customer ’s and net sales from licensing income according to the geographical location of the contractual partner ’s domicile.
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31 ( 34 ) Interim Report 1–9 /2026 NET SALES BY PRODUCT LINE (EUR million) 7–9 /2026 7–9 /2025 Change, % 1–9 /2026 1–9 /2025 Change, % 1–12/2025 Fashion 20.8 19.7 6 51.9 50.6 3 67.2 Home 21.4 21.1 1 57.2 56.5 1 83.3 Bags and accessories 9.9 10.0 0 28.3 27.8 2 39.1 Total 52.1 50.8 3 137.5 134.8 2 189.6 Other information GROUP KEY FIGURES 1–9 /2026 1–9 /2025 Change, % 1–12/2025 Earnings per share, EUR 0.44 0.43 3 0.60 Equity per share, EUR 1.78 1.66 8 1.83 Return on equity (ROE), % 35.7 36.5 32.5 Return on capital employed (ROCE), % 32.0 33.0 30.0 Equity ratio, % 60.0 57.9 57.7 Gearing, % 7.8 21.5 -9.3 Gross investments, EUR million 1.2 2.2 -44 2.9 Gross investments, % of net sales 0.9 1.6 1.5 Contingent liabilities, EUR million 0.9 1.2 -21 1.1 Average personnel 490 486 1 486 Personnel at the end of the period 481 480 0 493 Number of shares outstanding at the end of the period 40,415,170 40,571,380 40,571,380 Average number of shares outstanding 40,521,450 40,571,380 40,571,380
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32 ( 34 ) Interim Report 1–9 /2026 RECONCILIATION OF ALTERNATIVE KEY FIGURES TO IFRS (EUR million) 7–9/2026 7–9 /2025 1–9/2026 1–9 /2025 1– 12/2025 Items affecting comparability Employee benefit expenses -0.3 -0.1 -0.8 -0.4 -0.5 Items affecting comparability in operating profit -0.3 -0.1 -0.8 -0.4 -0.5 EBITDA 15.5 15.0 30.7 30.5 41.9 Employee benefit expenses 0.3 0.1 0.8 0.4 0.5 Comparable EBITDA 15.7 15.2 31.5 30.9 42.3 Operating profit 12.7 12.5 22.6 23.1 31.8 Employee benefit expenses 0.3 0.1 0.8 0.4 0.5 Comparable operating profit 13.0 12.7 23.4 23.5 32.3 Net sales 52.1 50.8 137.5 134.8 189.6 Operating profit margin, % 24.4 24.6 16.4 17.1 16.8 Comparable operating profit margin, % 25.0 24.9 17.0 17.5 17.1 Items affecting comparability are exceptional transactions that are not related to the company ’s regular business operations. The Group ’s management exercises its discretion when making decisions regarding the classification of items affecting comparability. QUARTERLY TREND IN NET SALES AND EARNINGS (EUR million) 7–9/2026 4–6/2026 1–3/2026 10–12/2025 Net sales 52.1 43.9 41.4 54.7 Operating profit 12.7 4.7 5.1 8.7 Earnings per share, EUR 0.25 0.09 0.10 0.17 (EUR million) 7–9/2025 4–6/2025 1–3/2025 10 –12/2024 Net sales 50.8 44.5 39.6 54.0 Operating profit 12.5 6. 3 4.3 9.1 Earnings per share, EUR 0.24 0.11 0.08 0.18
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33 ( 34 ) Interim Report 1–9 /2026 STORES AND SHOP -IN- SHOPS 30.9 .2026 30.9 .2025 31.12.202 5 Finland 67 67 67 Company -owned stores 27 27 27 Company -owned outlet stores 14 14 14 Retailer -owned stores 12 12 12 Retailer -owned shop -in -shops 14 14 14 Scandinavia 8 8 8 Company -owned stores 5 5 5 Company -owned outlet stores - - - Retailer -owned stores - - - Retailer -owned shop -in -shops 3 3 3 Europe 4 2 3 Company -owned stores 1 - 1 Company -owned outlet stores - - - Retailer -owned stores - - - Retailer -owned shop -in -shops 3 2 2 North America 2 2 2 Company -owned stores 1 1 1 Company -owned outlet stores 1 1 1 Retailer -owned stores - - - Retailer -owned shop -in -shops - - - Asia -Pacific 10 3 90 94 Company -owned stores 3 3 3 Company -owned outlet stores - - - Retailer -owned stores 89 78 82 Retailer -owned shop -in -shops 11 9 9 Total 18 4 169 174 Company -owned stores 37 36 37 Company -owned outlet stores 15 15 15 Retailer -owned stores 10 1 90 94 Retailer -owned shop -in -shops 31 28 28 Includes the company ’s own retail stores, retailer -owned Marimekko stores and shop -in -shops with an area exceeding 30 sqm. The company ’s own retail stores numbered 52 at the end of September 2026 (51 ).
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34 (34 ) Interim Report 1– 9/2026 FORMULAS FOR KEY FIGURES Comparable EBITDA, EUR: Operating result - depreciation - impairments - items affecting comparability Comparable operating result, EUR: Operating result - items affecting comparability in operating result Comparable operating result margin, %: (Operating result - items affecting comparability in operating result) x 100 / Net sales Earnings per share (EPS), EUR: (Profit before taxes - income taxes) / Adjusted number of shares (average for the period under review) Comparable earnings per share (EPS), EUR: (Comparable profit before taxes - income taxes on comparable profit) / Adjusted number of shares (average for the period under review) Equity per share, EUR: Shareholders ’ equity / Number of shares, 3 0 September Return on equity (ROE), %: Rolling 12 months (Profit before taxes - income taxes) x 100 / Shareholders’ equity (average) Return on capital employed (ROCE), %: Rolling 12 months (Profit before taxes + interest and other financial expenses) x 100 / Balance sheet total - non- interest -bearing liabilities (average) Equity ratio, %: Shareholders’ equity x 100 / (Balance sheet total - advances received) Gearing, %: Interest -bearing net debt x 100 / Shareholders’ equity Net working capital, EUR: Inventories + trade and other receivables + current tax assets - tax liabilities - current provisions - trade and other payables Net debt / EBITDA: Interest -bearing net debt / Comparable rolling 12 -month EBITDA