Interim report
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Interim Report January–September 2026 Q3 ORDERS EUR million 1,614 +28% Q3 SALES EUR million 1,373 +3% Q3 Adj. EBITA EUR million 230 +4% Metso’s service center in Karratha, Australia
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Strong growth in Minerals orders continued Third-quarter 2026 in brief • Strong customer activity drove 28% order growth; organic order growth in constant currencies was 24% • Minerals orders increased by 34%, with equipment orders up 79%; Aggregates orders grew by 4% • Order backlog increased by 20% to EUR 3,883 million • Sales increased by 3% to EUR 1,373 million, aftermarket sales grew by 10%. Organic sales growth in constant currencies was 1%. • Adjusted EBITA increased by 4% to EUR 230 million and the margin was 16.8% (16.7%) • Cash flow from operations amounted to EUR 136 million (EUR 266 million) • Net debt-to-EBITDA ratio was 1.3 (1.3) Figures in brackets in this report refer to the corresponding period in 2025, unless otherwise stated. Key figures EUR million Q3/2026 Q3/2025 Change % Orders received 1,614 1,264 28 Orders received by aftermarket business 814 744 9 % of orders received 50 59 – Order backlog 3,883 3,239 20 Sales 1,373 1,328 3 Sales by aftermarket business 778 707 10 % of sales 57 53 – Adjusted EBITA 230 222 4 % of sales 16.8 16.7 – Operating profit 197 205 -4 % of sales 14.4 15.5 – Earnings per share, continuing operations, EUR 0.15 0.17 -12 Cash flow from operations (before financial items and taxes) 136 266 -49 Return on capital employed, before taxes, % 16.6 17.7 – Gearing, % 42.9 44.3 – Net debt/EBITDA 1.3 1.3 – Personnel at end of period 18,104 17,874 1 Market outlook Metso expects that market activity in both Minerals and Aggregates will remain at the current level. In its previously published outlook, Metso expected market activity in both Minerals and Aggregates to remain at the current level. According to the company's disclosure policy, Metso’s market outlook describes the expected sequential development of market activity, adjusting for seasonality, during the following six-month period using three categories: improve, remain at the current level, or decline. Metso’s Interim Report January 1 – September 30, 2026 2
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President and CEO Sami Takaluoma: "The third quarter was characterized by strong order momentum. We turned healthy customer activity into orders across both our equipment and aftermarket businesses, with orders growing by 28% year-on-year. Together with continued solid execution and our organic and inorganic investments, we are well positioned for profitable growth." Broad-based order growth across our portfolio Customer activity in mining remained high, supported by favorable copper and gold prices. Orders received increased by 28% to EUR 1,614 million, or 24% organically in constant currencies. This resulted in a book-to-bill ratio of 1.18, and our order backlog increased by 20% year-on-year. In Minerals, orders grew by 34%. Equipment orders increased by 79%, driven particularly by grinding and crushing solutions. Importantly, the strength was supported by healthy demand across commodities, geographies and product areas. Small and medium-sized orders remained at a healthy level, while order intake also included a EUR 90 million copper-related order. Aftermarket orders grew by 11%, reflecting continued customer activity. In Aggregates, orders increased by 4%, with equipment orders up 8%. Growth was driven by the European and North American markets. Continued solid performance Sales increased by 3% to EUR 1,373 million. Aftermarket sales grew by 10% and accounted for 57% of Group sales. Minerals segment sales were driven by aftermarket sales growth of 11%. Minerals equipment sales increased sequentially, while remaining below the prior-year level, reflecting the timing of deliveries. Equipment order intake continued to build the backlog, supporting future sales. Aggregates sales growth was 5% year-on-year. Adjusted EBITA increased to EUR 230 million, and the margin was 16.8%. The Minerals margin was 18.0%, while Aggregates improved its margin to 16.4%, supported by higher volumes and solid operational execution. Cash flow from operations amounted to EUR 136 million, and our 12- month rolling cash conversion was 85%. Our strong balance sheet provides flexibility to continue investing in the business and pursuing growth opportunities. Investing in our offering and customer presence We continued to invest in developing new solutions and strengthening our presence close to customers. The virtual Metso Summit event brought together 600 customers and our experts to discuss the future of minerals processing and how new technologies can improve productivity and sustainability. We continued to expand our offering with the launch of the Sampo™ Cell coarse particle flotation technology, three AI-enabled digital mining solutions and additions to our Lokotrack® portfolio. We also received the first commercial-scale order for our low-emission DRI smelting technology, marking an important milestone in its industrial deployment. Sales of the Metso Plus portfolio grew by 8% on a rolling 12-month basis. We decided to invest in a new service center in Brazil to bring support closer to our customers and acquired hose and progressive cavity pump technologies, further strengthening our slurry-handling capabilities across the mining flowsheet. In October, we announced the acquisition of Italbronze, securing critical manufacturing capabilities for our crushing aftermarket business and improving spare parts availability for customers. Employee engagement reached a record-high level, while our safety performance remained stable. Looking ahead We expect market activity in both Minerals and Aggregates to remain at the current level over the next six months. The aggregates market continues to be supported by infrastructure activity. In Minerals, our customers are running existing operations at high utilization levels while preparing investments to meet longer-term demand for minerals. This creates attractive opportunities across both aftermarket and equipment. With our broad minerals processing offering, extensive installed base and global service footprint, we are well positioned to support customers in improving existing operations and developing their future investments. Together with our strong order backlog, this provides a solid foundation for continued profitable growth. Metso’s Interim Report January 1 – September 30, 2026 3
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Group orders and sales Order intake was strong, supported by high customer activity in the Minerals markets. Orders received increased by 28% year-on-year to EUR 1,614 million (1,264 million), or by 24% organically in constant currencies. In Minerals, equipment orders increased by 79% and aftermarket orders by 11%, while Aggregates orders increased by 4%. Aftermarket represented 50% (59%) of total orders received. Strong order growth resulted in a book-to-bill of 1.18 (0.95), and the order backlog increased by 20% year-on-year to EUR 3,883 million. Sales increased by 3% to EUR 1,373 million (1,328 million), or by 1% in constant currencies. Sales growth was driven by an 11% increase in the Minerals aftermarket business. Aftermarket accounted for 57% (53%) of Group sales. Impacts of currencies and structural changes Orders received Sales EUR million, % Q3 Q3 2025 1,264 1,328 Organic growth in constant currencies, % 24 1 Impact of changes in exchange rates, % 3 2 Structural changes, % 0 0 Total change, % 28 3 2026 1,614 1,373 Group orders, sales and book-to-bill Metso’s Interim Report January 1 – September 30, 2026 4 1,383 1,191 1,237 1,466 1,465 1,241 1,264 1,501 1,555 1,462 1,614 1,264 1,251 1,211 1,300 1,212 1,257 1,328 1,443 1,252 1,334 1,373 1.09 0.95 1.02 1.13 1.21 0.99 0.95 1.04 1.24 1.10 1.18 Orders received, EUR millionSales, EUR million Book-to-Bill Q1/2024Q2/2024Q3/2024Q4/2024Q1/2025Q2/2025Q3/2025Q4/2025Q1/2026Q2/2026Q3/2026 — 400 800 1,200 1,600 0.00 0.50 1.00 1.50 2.00 2.50
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Group results Gross profit amounted to EUR 440 million, with a gross margin of 32.0% (33.1%). Adjusted EBITA increased to EUR 230 million (222 million), corresponding to an adjusted EBITA margin of 16.8% (16.7%). Adjusted EBITA increased year-on-year in both the Aggregates and Minerals segments. The adjusted EBITA margin improved in Aggregates and remained broadly stable in Minerals. Adjusted EBITA for the Group items was EUR -11 million (-10 million). Adjustments were EUR -11 million (2 million). Operating profit was EUR 197 million (205 million). Profit before taxes was EUR 177 million (186 million), and net finance expenses were EUR -21 million (-20 million). Net profit from continuing operations was EUR 129 million (141 million), and earnings per share for continuing operations were EUR 0.15 (0.17). Adjusted EBITA Earnings per share Metso’s Interim Report January 1 – September 30, 2026 5 207 209 204 210 192 183 222 232 203 221 230 16.4 16.7 16.8 16.1 15.9 14.5 16.7 16.1 16.2 16.6 16.8 Adjusted EBITA, EUR millionAdjusted EBITA, % of sales Q1/2024Q2/2024Q3/2024Q4/2024Q1/2025Q2/2025Q3/2025Q4/2025Q1/2026Q2/2026Q3/2026 0 100 200 300 400 6.0 9.0 12.0 15.0 18.0 0.16 0.16 0.16 0.13 0.14 0.13 0.17 0.14 0.14 0.15 0.15 Earnings per share, continuing operations, EUR Q1/2024 Q2/2024 Q3/2024Q4/2024 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Q1/2026 Q2/2026 Q3/2026 0.00 0.05 0.10 0.15 0.20
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Balance sheet and cash flow Cash flow from operations amounted to EUR 136 million (EUR 266 million). Twelve-month rolling cash flow from operations amounted to EUR 786 million, corresponding to a cash conversion rate of 85%. Net working capital amounted to EUR 1,170 million (EUR 1,057 million), reflecting higher customer activity and the growing order backlog. Net interest-bearing liabilities increased to EUR 1,175 million (Dec 31, 2025: EUR 1,092 million). Gearing was 42.9% (Dec 31, 2025: 40.8%) and the net debt-to-EBITDA ratio was 1.3 (Dec 31, 2025: 1.2). Liquid funds, consisting of cash and cash equivalents, totaled EUR 445 million (Dec 31, 2025: EUR 501 million). Metso's liquidity position remained solid, supported by an undrawn EUR 700 million sustainability-linked syndicated revolving credit facility. During the third quarter, Metso signed an extension to an existing EUR 80 million term loan and increased the notional amount to EUR 150 million with a new maturity of 2029. The company also signed a EUR 50 million term loan for three years, which was undrawn at the end of the period. Utilization under the EUR 600 million Finnish commercial paper program was EUR 94 million at the end of September (Dec 31, 2025: EUR 0 million). Bonds outstanding amounted to EUR 1,055 million at carrying value, broadly unchanged from December 31, 2025 EUR million Sep 30, 2026 Sep 30, 2025 Dec 31, 2025 Liquid funds 445 461 501 Net debt 1,175 1,135 1,092 Net debt/EBITDA 1.3 1.3 1.2 Gearing, % 42.9 % 44.3 % 40.8 % Equity-to-asset ratio, % 40.5 % 39.9 % 41.6 % Equity/share at end of period, EUR 3.29 3.08 3.22 Metso’s Interim Report January 1 – September 30, 2026 6 825 1,036 1,156 1,173 1,070 1,285 1,135 1,092 1,126 1,214 1,175 0.9 1.1 1.2 1.3 1.2 1.5 1.3 1.2 1.2 1.3 1.3 Net debt, EUR millionNet debt/EBITDA Q1/2024Q2/2024Q3/2024Q4/2024Q1/2025Q2/2025Q3/2025Q4/2025Q1/2026Q2/2026Q3/2026 — 400 800 1,200 1,600 0.0 0.3 0.6 0.9 1.2 1.5 1.8 2.1 2.4 597 686 506 576 615 610 895 974 856 915 786 63% 74% 54% 63% 69% 70% 99% 106% 93% 98% 85% Cash flow from operations, last 12 months, EUR millionCash conversion, % Q1/2024Q2/2024Q3/2024Q4/2024Q1/2025Q2/2025Q3/2025Q4/2025Q1/2026Q2/2026Q3/2026 — 200 400 600 800 1,000 50% 100% 150% 200% 1027 1184 1,156 1,045 1,140 1,053 1,057 908 1,045 1,070 1,170 19% 23% 23% 21% 23% 21% 21% 17% 20% 20% 22% Net working capital, EUR millionNWC, % of sales, last 12 months Q1/2024Q2/2024Q3/2024Q4/2024Q1/2025Q2/2025Q3/2025Q4/2025Q1/2026Q2/2026Q3/2026 0 400 800 1200 10% 20% 30% 40%
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Aggregates segment • Equipment orders continued to grow • Sales increased • Profitability improved Quarterly performance Market activity remained healthy during the quarter. Orders received increased by 4% year-on-year, or 2% in constant currencies. Growth was driven by the European and North American markets. Equipment orders grew by 8%, while aftermarket orders declined by 2%*. Book-to-bill amounted to 0.90 (0.91), and the order backlog remained at a healthy level, 16% above the prior-year level, at EUR 511 million. Sales increased by 5%, or 4% in constant currencies, to EUR 324 million. Higher sales and solid operational execution supported a further improvement in profitability. Adjusted EBITA increased to EUR 53 million (EUR 48 million), corresponding to an adjusted EBITA margin of 16.4% (15.6%). Impacts of currencies and structural changes Orders received Sales EUR million, % Q3 Q3 2025 280 309 Organic growth in constant currencies, % 2 4 Impact of changes in exchange rates, % 2 1 Structural changes, % – – Total change, % 4 5 2026 292 324 Key figures EUR million Q3/2026 Q3/2025 Change % Orders received 292 280 4 Orders received by aftermarket business* 96 98 -2 % of orders received* 33 35 – Order backlog 511 443 16 Sales 324 309 5 Sales by aftermarket business* 105 100 5 % of sales* 33 32 – Adjusted EBITA 53 48 10 % of sales 16.4 15.6 – Operating profit 47 43 11 % of sales 14.6 13.8 – * Aftermarket figures have been affected by a calculation change implemented as of January 1, under which certain products were reclassified from the aftermarket business to the equipment business. The impact of the change in Q3/26 was EUR 8 million in orders received and EUR 9 million in sales. Comparative figures have not been re-presented. Metso’s Interim Report January 1 – September 30, 2026 7 EUR million 365 314 259 294 400 331 280 307 440 333 292303 331 283 290 307 320 309 330 299 342 324 17.0 16.6 16.1 16.0 16.0 14.1 15.6 16.2 16.0 16.3 16.4 Orders received, EUR millionSales, EUR million Adjusted EBITA, % of sales Q1/2024Q2/2024Q3/2024Q4/2024Q1/2025Q2/2025Q3/2025Q4/2025Q1/2026Q2/2026Q3/2026 0 100 200 300 400 500 600 700 6.0 9.0 12.0 15.0 18.0
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Minerals segment • Strong growth in equipment orders • Aftermarket supported sales • Solid profitability maintained Quarterly performance Customer activity remained strong across both equipment and aftermarket, with broad-based demand across commodities and geographies. Orders received increased by 34%, or 31% in constant currencies. Aftermarket orders grew by 11%, while equipment orders increased by 79%. Small and medium-sized equipment orders remained at a strong level, and the order intake also included a EUR 90 million copper- related order. Book-to-bill was strong at 1.26 (0.97), supporting a 21% increase in the order backlog to EUR 3,372 million. Sales increased by 3%, or remained stable in constant currencies, at EUR 1,049 million (EUR 1,019 million). Aftermarket sales increased by 11% and represented 64% (60%) of segment sales. Equipment sales were lower year-on-year but increased sequentially, reflecting the timing of deliveries. Adjusted EBITA increased to EUR 189 million (EUR 184 million). The higher aftermarket share supported profitability, while aftermarket margins were temporarily affected by the surge in freight costs. The adjusted EBITA margin remained healthy at 18.0% (18.0%). Impacts of currencies and structural changes Orders received Sales EUR million, % Q3 Q3 2025 984 1,019 Organic growth in constant currencies, % 31 0 Impact of changes in exchange rates, % 4 3 Structural changes, % 0 0 Total change, % 34 3 2026 1,323 1,049 EUR million Key figures EUR million Q3/2026 Q3/2025 Change % Orders received 1,323 984 34 Orders received by aftermarket business 718 646 11 % of orders received 54 66 – Order backlog 3,372 2,796 21 Sales 1,049 1,019 3 Sales by aftermarket business 672 607 11 % of sales 64 60 – Adjusted EBITA 189 184 3 % of sales 18.0 18.0 – Operating profit 162 169 -4 % of sales 15.5 16.5 – Metso’s Interim Report January 1 – September 30, 2026 8 1,018 877 978 1,173 1,066 910 984 1,194 1,115 1,129 1,323 961 919 928 1,011 906 936 1,019 1,113 953 992 1,049 17.3 17.1 18.1 17.1 16.8 16.5 18.0 17.1 17.6 18.3 18.0 Orders received, EUR millionSales, EUR million Adjusted EBITA, % of sales Q1/2024Q2/2024Q3/2024Q4/2024Q1/2025Q2/2025Q3/2025Q4/2025Q1/2026Q2/2026Q3/2026 — 300 600 900 1,200 1,500 1,800 6.0 9.0 12.0 15.0 18.0
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January-September review Group results • Orders received increased 17% to EUR 4,632 million (EUR 3,970 million); Aggregates +5% and Minerals +21% • Sales grew 4% to EUR 3,960 million (EUR 3,797 million); Aggregates +3% and Minerals +5% • Adjusted EBITA increased 10% to EUR 655 million, or 16.5% of sales (EUR 597 million, or 15.7%) • Operating profit was EUR 548 million, or 13.8% of sales (EUR 551 million, or 14.5%) • Cash flow from operations was EUR 421 million (EUR 609 million) • Earnings per share from continuing operations were EUR 0.44 (EUR 0.44) Key figures EUR million Q1–Q3/2026 Q1–Q3/2025 Change % 2025 Orders received 4,632 3,970 17 5,471 Orders received by aftermarket business 2,460 2,269 8 3,000 % of orders received 53 57 – 55 Order backlog 3,883 3,239 20 3,300 Sales 3,960 3,797 4 5,240 Sales by aftermarket business 2,229 2,071 8 2,805 % of sales 56 55 – 54 Adjusted EBITA 655 597 10 829 % of sales 16.5 15.7 – 15.8 Operating profit 548 551 -1 735 % of sales 13.8 14.5 – 14.0 Earnings per share, continuing operations, EUR 0.44 0.44 – 0.58 Cash flow from operations (before financial items and taxes) 421 609 -31 974 Return on capital employed, before taxes, % 16.6 17.7 – 15.9 Gearing, % 42.9 44.3 – 40.8 Net debt/EBITDA 1.3 1.3 – 1.2 Personnel at end of period 18,104 17,874 1 17,982 The previously reported December 2025 order backlog has been adjusted downward by EUR 157 million following the identification of a reporting discrepancy. Metso’s Interim Report January 1 – September 30, 2026 9 Sampo™ Cell, next-generation coarse particle flotation
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January-September review Aggregates segment • Orders received increased by 5%, or 8% in constant currencies • Equipment orders up by 10% year-on-year, aftermarket orders down 4% • Book-to-bill totaled 1.10 (1.08) • Order backlog increased 16% year-on-year to EUR 511 million • Sales increased by 3% to EUR 966 million, corresponding to 5% growth in constant currencies • Equipment sales increased by 6%, while aftermarket sales declined by 2% • Adjusted EBITA increased to EUR 157 million (EUR 142 million) and the margin improved to 16.2% (15.2%), resulting from higher volumes and solid execution EUR million Q1–Q3/2026 Q1–Q3/2025 Change % 2025 Orders received 1,065 1,010 5 1,317 Orders received by aftermarket business* 295 307 -4 419 % of orders received* 28 30 – 32 Order backlog 511 443 16 433 Sales 966 936 3 1,266 Sales by aftermarket business* 297 304 -2 403 % of sales* 31 32 – 32 Adjusted EBITA 157 142 10 196 % of sales 16.2 15.2 – 15.5 Operating profit 140 125 12 169 % of sales 14.5 13.3 – 13.4 * Aftermarket figures have been affected by a calculation change implemented as of January 1, under which certain products were reclassified from the aftermarket business to the equipment business. The impact of the change in Q1–Q3/26 was EUR 27 million in orders received and EUR 26 million in sales. Comparative figures have not been re-presented. Minerals segment • Robust demand drove a 40% growth in equipment orders and 10% increase in aftermarket orders; total order growth in constant currencies was 20% • Book-to-bill amounted to 1.19 (1.03), and the order backlog increased by 21% year-on-year to EUR 3,372 million • Equipment sales declined 3%, while aftermarket sales grew 9% and represented 65% (62%) of segment sales; total segment sales increased by 5%, or 3% organically in constant currencies, to EUR 2,994 million (EUR 2,861 million) • Adjusted EBITA increased to EUR 539 million (EUR 491 million), with the adjusted EBITA margin improving to 18.0% (17.1%), supported by higher volumes, business mix and solid execution EUR million Q1–Q3/2026 Q1–Q3/2025 Change % 2025 Orders received 3,567 2,960 21 4,154 Orders received by aftermarket business 2,165 1,961 10 2,581 % of orders received 61 66 – 62 Order backlog 3,372 2,796 21 2,867 Sales 2,994 2,861 5 3,974 Sales by aftermarket business 1,932 1,767 9 2,402 % of sales 65 62 – 60 Adjusted EBITA 539 491 10 680 % of sales 18.0 17.1 – 17.1 Operating profit 455 461 -1 616 % of sales 15.2 16.1 – 15.5 The previously reported December 2025 order backlog has been adjusted downward by EUR 157 million following the identification of a reporting discrepancy. Metso’s Interim Report January 1 – September 30, 2026 10
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Sustainability and culture • Employee engagement at record-high level • High Metso Plus orders • First commercial-scale delivery of low-emission DRI technology Sustainability KPI Target Q3/2026 2025 Total recordable injury frequency rate (TRIF) Safety embedded into ways of working 2.4 2.5 Employee Net Promoter Score (eNPS) Top 10% of industry benchmark Top 5% Top 5% Inclusion score Top 10% of industry benchmark Top 5% Top 5% Metso Plus sales (EUR million) 1) To grow faster than overall Group sales 1,530 1,458 Sales from customers with science-based CO2e reduction targets 40% by 2030 N/A 15.1 % Reduction of CO2e emissions: own operations (Scope 1 and Scope 2) 2) Net zero by 2030 -70 % -69% Spend with suppliers that have a science- based CO2e reduction target 3) 40% by 2030 39.8 % 35.3% 1) Rolling 12 months as of the end of August 2026. 2) Rolling 12 months as of the end of September 2026 with approx. 10% estimated based on previous months’ actual data. Baseline 2019. 3) Calculated from total procurement spend including equivalent targets validated by Metso. Equivalent accounts for 1.8%. Health and safety Safety performance remained stable during the quarter, with the rolling 12-month total recordable injury frequency rate (TRIF) at 2.4. As part of Metso's continued focus on fatal accident prevention, the management of high- potential events was further integrated globally. A new incident management process and tool entered the pilot phase. In addition, renewed global training on the fundamentals of Metso's Life-Saving Rules was launched for all employees. People and culture In the third quarter, Metso’s employee engagement score (eNPS) reached a record-high level of 63. The global survey response rate was 86%, with consistently strong scores in inclusion and health & wellbeing. During the quarter, Metso launched the Culture playbook, a digital and printed booklet developed with contributions from thousands of Metso employees. It brings together the behaviors that support the continued development of a customer-centric growth culture. Metso Plus offering Metso Plus rolling 12-month sales increased by 8% year-on-year to EUR 1,530 million. Third-quarter Metso Plus orders were at a high level, reflecting the overall market environment. Orders included key minerals processing equipment for a greenfield mining project in Türkiye and a brownfield copper project expansion in Sweden; process equipment and digital solutions for a major copper project in Asia Pacific; a comprehensive thickener modernization for a customer site in Chile; and several major process technology packages for a gold project expansion in Papua New Guinea. An important milestone in the industrial deployment of DRI smelting technology was reached when a Turkish metals and fertilizer producer awarded Metso a major order for a rotary kiln process and a DRI smelting furnace. The order marks the first commercial-scale delivery of this breakthrough technology. In addition, Fortescue’s Christmas Creek Green Metal Project produced its first hot metal from iron ore in Australia using DRI technology in a pilot project. DRI technology can reduce CO₂e intensity by up to 95% compared to conventional technologies. Metso further strengthened its strategic partnerships by announcing a collaboration with the Geological Survey of Finland (GTK) to engineer and deliver a new pilot plant for the processing of minerals and circular economy materials. Environmental footprint of own operations and supply chain Metso continued to advance initiatives to improve energy efficiency and reduce greenhouse gas emissions across its operations during the quarter. These included energy-efficiency upgrades to production equipment and the deployment of battery energy storage systems. The supplier engagement program continued to deliver positive results, with 25 additional suppliers committing to science-based emissions reduction targets. As a result, 39.8% of procurement spend was attributable to suppliers with emissions reduction targets validated by the Science Based Targets initiative or equivalent ambitious climate target aligned with a below 1.5°C global warming scenario. In addition, 46 supplier sustainability audits were conducted in high-risk areas according to plan. Metso’s Interim Report January 1 – September 30, 2026 11
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Capital expenditure and investments Gross capital expenditure, excluding right-of-use assets, amounted to EUR 146 million in January–September 2026 (EUR 145 million). Investments were mainly directed to the new Aggregates Technology Center in Finland, as well as to service centers and smaller manufacturing sites globally. R&D and innovation Research and development (R&D) expenses and investments were EUR 75 million, or 1.9% of sales, in January– September 2026 (EUR 91 million, or 2.4% of sales). In the third quarter, Metso launched Sampo™ Cell coarse particle flotation technology, designed to improve resource recovery while maintaining fine particle recovery and supporting energy and water efficiency. The Lokotrack® portfolio was extended with the LT400RS™ impact crusher for recycling and demolition and the LT200HPX™ cone crusher with integrated screening for aggregate production. Metso also launched three AI- enabled digital mining solutions: Metso Digital Production Management, Metso Data-driven Performance Analytics and Metso Safety Performance Platform. These solutions use artificial intelligence and advanced analytics to support production planning, equipment and process performance, and workplace safety. Together, the new technologies and digital capabilities further strengthen Metso’s offering across the minerals and aggregates value chains. Personnel Metso had 18,104 (17,874) employees at the end of September 2026. Personnel by area on September 30, 2026 Share, % Europe 32 North and Central America 13 South America 25 Asia Pacific and Greater China 15 Africa, Middle East and India 15 Total 100 Shares and share trading Metso has a total of 828,972,440 shares and its share capital is EUR 107,186,442.52. In March 2026, a total of 352,702 treasury shares were conveyed to participants of the company's long-term incentive plans, after which treasury shares totaled 858,981. Share performance on Nasdaq Helsinki EUR January 1–September 30, 2026 Closing price 17.04 Highest share price 18.85 Lowest share price 14.04 Volume-weighted average trading price 16.04 Annual General Meeting 2026 The Annual General Meeting (AGM) was held on April 22, 2026, in Helsinki. The AGM approved a dividend of EUR 0.40 per share for the financial year 2025, to be paid in two installments of EUR 0.20 each. The first payment was made on May 4, and the second payment will be made on October 30, 2026. In addition, the AGM agreed on all other items on the agenda in line with the proposals made by the Board of Directors and the Shareholders' Nomination Board. More information on the AGM 2026 can be found on metso.com. Other main events between January 1 and September 30, 2026 Divestment of the Ferrous business On January 2, Metso completed the divestment of its Ferrous business to SMS group. The Ferrous business had been reported as discontinued operations since September 30, 2023. New rubber products factory in China On January 8, Metso announced an investment in a new rubber products plant in Quzhou, Zhejiang Province, China. The new factory will offer rubber and Poly-Met mill linings, as well as Trellex® screening media designed to boost both performance and reliability. With this new plant, Metso will expand its supply of high-quality, reliable rubber and Poly-Met wear parts in China, ensuring customer access to products that deliver strong performance and availability. Metso’s Interim Report January 1 – September 30, 2026 12
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Renewed climate targets approved by SBTi On January 8, Metso announced that the Science Based Targets initiative (SBTi) has validated its updated greenhouse gas (GHG) emissions reduction targets, covering both short- and long-term goals. This recognition confirms that Metso's climate targets are aligned with the latest climate science and the ambition to limit global warming to 1.5 °C. The targets include achieving net zero across the value chain, introducing new customer-related goals, and strengthening supplier engagement. This underscores Metso's leadership in driving industry-wide decarbonization and innovations for water, energy and resource efficiency, as well as circular solutions. Acquisition of MRA Automation On February 2, Metso acquired MRA Automation (Multiskilled Resources Australia Pty Ltd), a privately owned engineering company based in Newcastle, NSW, Australia. MRA Automation specializes in providing engineering, automation, and software solutions for bulk material handling operators. The company is a leading provider of automation and digitalization technology solutions for ports and terminals worldwide. Divestment of the loading and hauling business On February 2, Metso completed the divestment of its loading and hauling business to Miilux Oy. The transaction did not have a material impact on Metso's financial result. Metso and Loesche partnership On February 25, Metso and Loesche GmbH signed a partnership agreement to introduce groundbreaking Metso Loesche vertical roller mill (VRM) dry grinding technology for a wide range of minerals processing applications. The exclusive partnership combines Metso's expertise in sustainable end-to-end minerals processing solutions and extensive service capabilities with Loesche's Vertical Roller Mill technology to support the mining industry's quest to gain efficiency through innovative technologies and redefined process flowsheet design. Annual Report 2025 On March 4, Metso published its Annual Report for 2025. The report consists of the Business overview, Board of Directors’ report, Financial statements, and Investor information. Additionally, Metso published its Remuneration report for 2025 as a separate report. Share transfer and change in the number of own shares On March 19, Metso’s Board of Directors decided to transfer a total of 352,702 treasury shares of the company without consideration to 133 key persons and executives in accordance with the terms and conditions of the Performance Share Plan 2023–2025 (PSP 2023–2025). The directed share issue is based on an authorization given by the Annual General Meeting held on April 25, 2025. Changes in Metso Leadership Team On March 1, Teija Saari started as Metso's Chief People Officer, and on May 1, Jonathan Allen assumed the role of Chief Growth Officer. Both are members of the Metso Leadership Team. Expansion of presence in Argentina On May 6, Metso announced an expansion of its presence in Argentina with new local capabilities. The investment w i l l r e i n f o r c e M e t s o ’ s l o n g ‑ t e r m c o m m i t m e n t t o t h e d e v e l o p m e n t o f t h e m i n i n g i n d u s t r y a n d l o c a l t a l e n t i n Argentina. Metso is entering a new phase of growth in San Juan, the mining hub famous especially for its copper and gold production. During the second quarter, Metso opened a new office to enable closer, more agile, and more strategic collaboration with customers. New Service and Training Center in USA On May 29, Metso inaugurated its expanded Service Center and new Training Center in Mesa, Arizona, strengthening support for customers' mining operations in the U.S. Southwest. The site uniquely combines a d v a n c e d O E M ‑ l e v e l s e r v i c e c a p a b i l i t i e s w i t h a p u r p o s e ‑ b u i l t t r a i n i n g e n v i r o n m e n t i n o n e l o c a t i o n , r e i n f o r c i n g Metso’s proximity to customers operating in this critical mining region. The Mesa site represents a EUR 17 million investment and encompasses over 20,000 square feet (approximately 1,900 square meters) of dedicated service and training space. The second phase of the Aggregates technology center in Finland On June 2, Metso made an investment decision to proceed with the second phase of its Aggregates Lokomotion technology center in Lahdesjärvi, Tampere, Finland. The second phase includes the construction of a new crusher factory as part of the overall technology center. The investment of the second phase is approximately EUR 60 million, to be distributed over three years. The investment in 2026 is estimated at approximately EUR 15 million. New service center in Western Canada On June 17, Metso marked the inauguration of its new service center in Prince George, British Columbia, further strengthening support for gold and copper operations across Western Canada. Located in one of Canada’s key mining hubs, the center enhances Metso’s service capabilities and brings support closer to customers. Aggregates President Markku Simula to leave Metso On August 11, Metso announced that Markku Simula, President, Aggregates business area, has decided to leave Metso. He will continue in his current role until a successor has been appointed and will leave Metso by the end of February 2027 at the latest. The recruitment process for a new President, Aggregates business area, is ongoing. Shareholders' Nomination Board On August 18, Metso announced the Nomination Board composition: Petter Söderström, Christer Gardell, Mikko Mursula, Risto Murto and Kari Stadigh. Its proposals are due before January 1, 2027. The four largest shareholders Metso’s Interim Report January 1 – September 30, 2026 13
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appoint representatives based on the August 15 shareholder register, with Metso's Board Chair serving as the fifth member. The Board prepares proposals on the composition and remuneration for Metso's Board of Directors. New service facility in Brazil On August 19, Metso announced investment in a service facility near Belo Horizonte, Minas Gerais, Brazil, expected to become operational in the first quarter of 2028. The facility is intended to bring service support closer to customers and reduce transportation distances, while the existing Sorocaba service hub is operating at full capacity. Acquisition of hose and progressive cavity pumps business On August 24, Metso signed an agreement to acquire peristaltic hose pump and progressive cavity pump technologies, as well as related aftermarket spare parts and service offering capabilities, from Valmet, a global technology leader in serving process industries. With this acquisition, Metso enhances its ability to deliver comprehensive slurry handling and pumping solutions across the full mining flowsheet. The acquisition was closed on October 1. Events after the reporting period On October 20, Metso announced the acquisition of Italbronze, a Brazilian manufacturer of high-quality bronze alloy components. The acquisition reinforces Metso's position as one of the world's leading crushing technology providers by securing a strategically important manufacturing capability and critical know-how for its crushing aftermarket business. Short-term business risks and market uncertainties The uncertainty in the global markets may affect Metso's market environment. Trade restrictions and tariffs pose risks for global economic growth and may affect both Metso's customers and suppliers. Metso has actively mitigated the impact of tariffs on its operations through its extensive geographical footprint, by passing tariffs on to customers through prices, and by optimizing its sourcing and supply chain. However, higher uncertainty may have a negative impact on customers' capex decision-making. There are also other market- and customer-related risks that could cause ongoing projects to be postponed, delayed, discontinued, or terminated. Geopolitical tensions and related trade barriers may impact global supply chains and may affect Metso's ability to deliver on time and/or on budget. The financial position of suppliers may be at risk, due to working capital requirements and funding costs, which could also lead to challenges with on-time deliveries. If suppliers are unable to deliver and the company is unable to find alternative sources in the required time, it may lead to contractual penalties and/or obligations. Uncertain market conditions could adversely affect our customers’ payment behavior and increase the risk of lawsuits, claims, and disputes taken against Metso in various countries related to, among other things, Metso’s products, projects, and other operations. Even though currency exposure of firm delivery and purchase agreements is hedged, exchange rate fluctuations may impact the company's financial position. Information security and cyber threats could disturb or disrupt Metso’s businesses and operations. Disputes related to delivery execution are a risk for Metso and can result in extra costs and/or penalties. In contracts related to the delivery of major projects, the liquidated damages attributable to, for instance, delayed delivery or non-performance may be significant. Even though provisions are made in accordance with accounting principles, the possibility of additional liabilities materializing cannot be excluded. Metso is and may become involved in some disputes that may lead to or are in litigation and arbitration. Differing interpretations of international contracts and laws may cause uncertainties on the outcome of these disputes, including the legal basis and amounts of claims or liabilities relating to pending and past projects. The enforceability of contracts in certain market areas may be challenging or difficult to foresee. Market outlook Metso expects that the market activity in both Minerals and Aggregates will remain at the current level. In its previously published outlook, Metso expected market activity in both Minerals and Aggregates to remain at the current level. According to the company's disclosure policy, Metso’s market outlook describes the expected sequential development of market activity, adjusting for seasonality, during the following six-month period using three categories: improve, remain at the current level, or decline. Espoo, October 22, 2026 Metso Corporation’s Board of Directors Metso’s Interim Report January 1 – September 30, 2026 14
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Metso Interim Report January 1–September 30, 2026 : Tables Consolidated statement of income, IFRS Sales 1,373 1,328 3,960 3,797 5,240 Cost of sales -933 -888 -2,645 -2,572 -3,561 Gross profit 440 440 1,315 1,225 1,679 Selling and marketing expenses -123 -109 -365 -350 -465 Administrative expenses -91 -96 -296 -280 -402 Research and development expenses -23 -28 -72 -80 -109 Other operating income and expenses, net -6 -2 -33 37 32 Share of results of associated companies 0 0 0 0 0 Operating profit 197 205 548 551 735 Finance income 3 3 10 10 13 Foreign exchange gains/losses 1 5 11 6 -4 Finance expenses -25 -28 -74 -85 -107 Finance income and expenses, net -21 -20 -54 -69 -99 Profit before taxes 177 186 494 483 636 Income taxes -48 -44 -124 -119 -150 Profit for the period from continuing operations 129 141 370 364 486 Profit from discontinued operations – 0 12 -41 -59 Profit for the period 129 142 382 323 427 EUR million 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Profit attributable to Shareholders of the Parent company 128 142 380 322 423 Non-controlling interest 1 -1 2 1 4 Profit from continuing operations attributable to Shareholders of the Parent company 128 142 368 363 482 Non-controlling interest 1 -1 2 1 4 Profit from discontinued operations attributable to Shareholders of the Parent company – 0 12 -41 -59 Non-controlling interest – – – – – Earnings per share, EUR 0.16 0.17 0.46 0.39 0.51 Earnings per share, diluted, EUR 0.16 0.17 0.46 0.39 0.51 Earnings per share, continuing operations, EUR 0.15 0.17 0.44 0.44 0.58 Earnings per share, discontinued operations, EUR 0.01 0.00 0.02 -0.05 -0.07 EUR million 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 More information under "Key figures, IFRS". Metso’s Interim Report January 1 – September 30, 2026 15
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Consolidated statement of comprehensive income, IFRS EUR million 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Profit for the period 129 142 382 323 427 Other comprehensive income Cash flow hedges, net of tax 1 1 1 -4 -2 Currency translation on subsidiary net investment -12 -5 10 -54 -43 Items that may be reclassified to profit or loss in subsequent periods -12 -4 11 -59 -44 Defined benefit plan actuarial gains and losses, net of tax – – – – -4 Items that will not be reclassified to profit or loss – – – – -4 Other comprehensive income -12 -4 11 -59 -49 Total comprehensive income 117 138 393 264 378 Total comprehensive income attributable to Parent company shareholders 116 138 391 263 374 Non-controlling interest 1 -1 2 1 4 Total comprehensive income attributable to, continuing operations Parent company shareholders 116 138 379 304 433 Non-controlling interest 1 -1 2 1 4 Total comprehensive income attributable to, discontinued operations Parent company shareholders – 0 12 -41 -59 Non-controlling interest – – – – – Metso’s Interim Report January 1 – September 30, 2026 16
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Consolidated balance sheet – Assets, IFRS Non-current assets Goodwill and intangible assets Goodwill 1,290 1,271 1,277 Intangible assets 778 834 811 Total goodwill and intangible assets 2,067 2,105 2,088 Property, plant and equipment Land and water areas 46 46 46 Buildings and structures 171 156 152 Machinery and equipment 291 238 247 Assets under construction 195 146 164 Total property, plant and equipment 703 585 609 Right-of-use assets 119 115 123 Other non-current assets Investments in associated companies 1 1 0 Non-current financial assets 1 1 1 Loan receivables – 1 – Derivative financial instruments 4 11 6 Deferred tax assets 218 249 242 Other non-current receivables 34 35 30 Total other non-current assets 258 297 280 Total non-current assets 3,147 3,102 3,100 EUR million Sep 30, 2026 Sep 30, 2025 Dec 31, 2025 Current assets Inventories 2,124 1,905 1,903 Trade receivables 1,082 1,029 1,051 Customer contract assets 267 465 213 Loan receivables 3 1 2 Derivative financial instruments 30 33 25 Income tax receivables 124 102 78 Other current receivables 302 303 300 Liquid funds 445 461 501 Total current assets 4,378 4,299 4,072 Assets held for sale – 34 42 TOTAL ASSETS 7,525 7,435 7,215 EUR million Sep 30, 2026 Sep 30, 2025 Dec 31, 2025 Metso’s Interim Report January 1 – September 30, 2026 17
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Consolidated balance sheet – Equity and liabilities, IFRS Equity Share capital 107 107 107 Share premium fund 20 20 20 Cumulative translation adjustments -247 -269 -257 Fair value and other reserves 1,144 1,137 1,138 Retained earnings 1,698 1,559 1,655 Equity attributable to shareholders 2,722 2,554 2,663 Non-controlling interests 14 10 14 Total equity 2,736 2,564 2,676 Liabilities Non-current liabilities Borrowings 1,389 1,369 1,369 Lease liabilities 79 80 85 Post-employment benefit obligations 85 88 85 Provisions 49 86 45 Derivative financial instruments 12 11 9 Deferred tax liability 192 195 201 Other non-current liabilities 12 0 1 Total non-current liabilities 1,818 1,829 1,796 EUR million Sep 30, 2026 Sep 30, 2025 Dec 31, 2025 Current liabilities Borrowings 112 111 98 Lease liabilities 44 39 42 Trade payables 677 632 671 Provisions 187 197 207 Advances received 531 536 518 Customer contract liabilities 240 479 267 Derivative financial instruments 45 20 26 Income tax liabilities 112 132 88 Other current liabilities 1,021 855 802 Total current liabilities 2,970 3,001 2,720 Liabilities held for sale – 41 24 TOTAL EQUITY AND LIABILITIES 7,525 7,435 7,215 EUR million Sep 30, 2026 Sep 30, 2025 Dec 31, 2025 Metso’s Interim Report January 1 – September 30, 2026 18
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Consolidated statement of changes in shareholders’ equity, IFRS EUR million Share capital Share premium fund Cumulative translation adjustments Fair value and other reserves Retained earnings Equity attributable to shareholders Non-controlling interests Total equity Jan 1, 2026 107 20 -257 1,138 1,655 2,663 14 2,676 Profit for the period – – – – 380 380 2 382 Other comprehensive income Cash flow hedges, net of tax – – – 1 – 1 – 1 Currency translation on subsidiary net investments – – 10 – – 10 – 10 Total comprehensive income – – 10 1 380 391 2 393 Dividends – – – – -331 -331 0 -331 Share-based payments, net of tax – – – 4 -5 -1 – -1 Other items – – – – -1 -1 1 -1 Changes in non-controlling interests – – – – 2 2 -2 – Sep 30, 2026 107 20 -247 1,144 1,698 2,722 14 2,736 EUR million Share capital Share premium fund Cumulative translation adjustments Fair value and other reserves Retained earnings Equity attributable to shareholders Non-controlling interests Total equity Jan 1, 2025 107 20 -215 1,137 1,551 2,601 10 2,611 Profit for the period – – – – 322 322 1 323 Other comprehensive income Cash flow hedges, net of tax – – – -4 – -4 – -4 Currency translation on subsidiary net investments – – -54 – – -54 – -54 Total comprehensive income – – -54 -4 322 263 1 264 Dividends – – – – -315 -315 0 -315 Share-based payments, net of tax – – – 4 -2 2 – 2 Other items – – – – 1 1 1 2 Changes in non-controlling interests – – – – 1 1 -1 – Sep 30, 2025 107 20 -269 1,137 1,559 2,554 10 2,564 Metso’s Interim Report January 1 – September 30, 2026 19
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Condensed consolidated statement of cash flow, IFRS Operating activities Profit for the period 129 142 382 323 427 Adjustments: Depreciation and amortization 51 47 148 138 186 Financial expenses, net 21 20 54 69 99 Income taxes 48 46 124 115 150 Other items 16 -1 27 25 42 Change in net working capital -128 12 -314 -60 70 Net cash flow from operating activities before financial items and taxes 136 266 421 609 974 Financial income and expenses paid, net -8 -10 -65 -1 -44 Income taxes paid -27 -40 -124 -109 -152 Net cash flow from operating activities 101 216 232 499 779 Investing activities Capital expenditures on non-current assets -36 -55 -111 -111 -152 Proceeds from sale of non-current assets 1 7 2 8 8 Business acquisitions, net of cash acquired -1 -4 -25 -133 -136 Proceeds from sale of businesses, net of cash sold 0 – 7 – 0 Change in loan receivables, net -1 0 13 0 1 Dividends received from associated companies – – 0 – 1 Net cash flow from investing activities -37 -52 -113 -236 -277 EUR million 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Financing activities Dividends paid 0 0 -166 -157 -315 Proceeds from increases in non-current debt 70 0 70 373 373 Repayment of non-current debt – -70 -159 -369 -378 Proceeds from and repayments of current debt, net -61 -59 93 -22 -36 Repayment of lease liabilities -12 -12 -35 -35 -46 Net cash flow from financing activities -3 -142 -196 -211 -403 Net change in liquid funds 61 22 -78 53 98 Effect from changes in exchange rates 2 7 12 -23 -19 Liquid funds at beginning of period 383 432 511 431 431 Liquid funds at end of period 445 461 445 461 511 Of which continuing operations 445 461 445 461 501 Of which discontinued operations – – – – 10 EUR million 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Metso’s Interim Report January 1 – September 30, 2026 20
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Key figures, IFRS Profit for the period from continuing operations 370 364 486 Earnings per share from continuing operations, EUR 0.44 0.44 0.58 Profit for the period from discontinued operations 12 -41 -59 Earnings per share from discontinued operations, EUR 0.02 -0.05 -0.07 Profit for the period 382 323 427 Earnings per share, EUR 0.46 0.39 0.51 Equity/share at end of period, EUR 3.29 3.08 3.22 Total number of shares at end of period (thousands) 828,972 828,972 828,972 Own shares held by Parent Company at end of period (thousands) 859 1,212 1,212 Number of outstanding shares at end of period (thousands) 828,113 827,761 827,761 Average number of outstanding shares (thousands) 828,013 827,642 827,672 EUR million 1–9/2026 1–9/2025 1–12/2025 Net cash flow from operating activities before financial items and taxes, last 12 months 786 895 974 EBITDA, last 12 months 927 903 921 Cash conversion, % 85 % 99 % 106 % Return on capital employed, before taxes, % 16.6 % 17.7 % 15.9 % Net debt 1,175 1,135 1,092 Net debt/EBITDA 1.3 1.3 1.2 Gearing, % 42.9 % 44.3 % 40.8 % Equity-to-asset ratio, % 40.5 % 39.9 % 41.6 % Debt to capital, % 35.4 % 36.6 % 35.4 % Debt to equity, % 54.8 % 57.8 % 54.8 % Net working capital (NWC) 1,170 1,057 908 Net debt and gearing Borrowings 1,500 1,481 1,467 Lease liabilities 123 118 127 Gross debt 1,624 1,599 1,595 Loan receivables 3 2 2 Liquid funds 445 461 501 Net debt 1,175 1,135 1,092 Gearing, % 42.9 % 44.3 % 40.8 % Operating profit, last 12 months 732 724 735 Depreciation and amortization, last 12 months 196 180 186 EBITDA, last 12 months 927 903 921 Net debt/EBITDA 1.3 1.3 1.2 EUR million Sep 30, 2026 Sep 30, 2025 Dec 31, 2025 Metso’s Interim Report January 1 – September 30, 2026 21
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Formulas for key figures Earnings before finance expenses, net, taxes, and amortization, adjusted (adjusted EBITA) = Operating profit + adjustment items + amortization Earnings before finance expenses, net, taxes, depreciation and amortization (EBITDA) = Operating profit + depreciation + amortization Earnings per share, basic = Profit attributable to shareholders Average number of outstanding shares during the period Earnings per share, diluted = Profit attributable to shareholders Average number of diluted shares during the period Equity/share = Equity attributable to shareholders Number of outstanding shares at the end of the period Gearing, % = Net interest-bearing liabilities x 100Total equity Debt to capital, % = Interest-bearing liabilities - lease liabilities x 100Total equity + interest-bearing liabilities - lease liabilities Debt to equity, % = Interest-bearing liabilities - lease liabilities x 100Total equity Equity-to-asset ratio, % Total equity x 100Balance sheet total - advances received Interest-bearing liabilities (Gross debt) = Interest-bearing liabilities, non-current and current + lease liabilities, non- current and current Net interest-bearing liabilities (Net debt) = Interest-bearing liabilities - loan and other interest-bearing receivables (current and non-current) - liquid funds Net debt/EBITDA = Interest-bearing liabilities - loan and other interest-bearing receivables (current and non-current) - liquid funds Operating profit + depreciation + amortization, last 12 months Net working capital (NWC) = Inventories + trade receivables + other non-interest-bearing receivables + customer contract assets and liabilities, net - trade payables - advances received - other non-interest-bearing liabilities Cash conversion, % = Net cash flow from operating activities before financial items and taxes, last 12 months EBITDA, last 12 months Book-to-bill = Orders received Sales NWC / Sales = Net working capital (NWC) Sales, last 12 months Return on capital employed, before taxes, % = Profit before taxes + finance expenses, last 12 months Capital employed (average for the period) Alternative performance measures Metso presents certain key figures (alternative performance measures) as additional information to the financial measures presented in the consolidated statements of comprehensive income and the consolidated balance sheet and cash flows prepared in accordance with IFRS. In Metso’s view, alternative performance measures provide meaningful supplemental information on its operational results, financial position, and cash flows, and are widely used by analysts, investors, and other parties. To improve the comparability between periods, Metso presents adjusted EBITA, being earnings before interest, tax, and amortization, adjusted by capacity adjustment costs, acquisition costs, and gains and losses on business disposals. Their nature and net effect on cost of goods sold, selling, general and administrative expenses, as well as other income and expenses are presented in the segment information. Net debt, net debt to EBITDA, gearing, equity-to-asset ratio, debt-to-capital ratio, and debt-to-equity ratio are presented as complementing measures because, in Metso’s view, they are useful measures of Metso’s ability to obtain financing and to service its debts. Net working capital provides additional information concerning the cash flow needs of Metso’s operations. Alternative performance measures should not be viewed in isolation or as a substitute to the IFRS financial measures. All companies do not calculate alternative performance measures in a uniform manner, and therefore Metso’s alternative performance measures may not be comparable with similarly named measures presented by other companies. Metso’s Interim Report January 1 – September 30, 2026 22
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Notes to the Interim Report Contents 1. Basis of preparation .................................................................................................................................... 23 2. New accounting standards ........................................................................................................................ 24 3. Disaggregation of sales .............................................................................................................................. 24 4. Financial risk management ........................................................................................................................ 25 5. Fair value estimation .................................................................................................................................. 25 6. Notional amounts of derivative instruments ........................................................................................... 26 7. Contingent liabilities and commitments ................................................................................................... 26 8. Acquisitions .................................................................................................................................................. 26 9. Business disposals ....................................................................................................................................... 28 10. Discontinued operations ........................................................................................................................... 28 11. Segment information, IFRS ........................................................................................................................ 30 12. Exchange rates ........................................................................................................................................... 32 13. Events after the reporting period ............................................................................................................. 32 1. Basis of preparation This Interim Report has been prepared in accordance with IAS 34 ‘Interim Financial Reporting’, applying the accounting policies of Metso, which are consistent with the accounting policies of Metso Financial Statements 2025. New accounting standards have been adopted, as described in Note 2. This Interim Report is unaudited. All figures presented have been rounded; consequently, the sum of individual figures might differ from the presented total figures. Reporting segments Metso is a frontrunner in sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing, and metals refining industries globally. We improve our customers’ energy and water efficiency, increase their productivity, and reduce environmental risks with our product and service expertise. We are the partner for positive change. Reportable segments of Metso are based on end-customer groups, which are differentiated both by offering and business model. The segments are reported in a manner consistent with the internal reporting provided to the Board of Directors, Metso’s chief operating decision-maker with responsibility for allocating resources and assessing the performance of the segments, deciding on strategy, selecting key employees, as well as deciding on major development projects, business acquisitions, investments, organizational structure, and financing. The accounting principles applied to the segment reporting are the same as those used in preparing the consolidated financial statements. Metso's reportable segments are Aggregates and Minerals. Aggregates serves quarry and contractor customers by offering crushing and screening equipment to produce aggregates needed in construction and infrastructure projects. Minerals serves mining industry customers by providing equipment, process islands, and plants for minerals processing, and hydrometallurgical and pyrometallurgical solutions for the recovery of metals. Group Head Office and other is comprised of the Parent company with centralized group functions, such as treasury, tax, legal and compliance, as well as the global business services and holding companies. Segment performance is measured with operating profit/loss (EBIT). In addition, Metso uses alternative performance measures to reflect the underlying business performance and to improve comparability between financial periods: earnings before interest, tax, and amortization (EBITA), adjusted. Adjustment items comprise capacity adjustment costs, acquisition costs, gains and losses on business transactions, administrative expenses related to business acquisitions and disposals, as well as changes in the fair value of shares. Their nature and net effect on cost of goods sold, selling, general and administrative expenses, as well as other income and expenses are presented in the segment information. Alternative performance measures, however, should not be considered as a substitute for measures of performance in accordance with the IFRS. Metso’s Interim Report January 1 – September 30, 2026 23
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2. New accounting standards Metso has applied the IFRS revisions that have been effective since January 1, 2026. These amendments have not had a material impact on the reported figures. 3. Disaggregation of sales Sales by segment EUR million 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Aggregates 324 309 966 936 1,266 Minerals 1,049 1,019 2,994 2,861 3,974 Sales, continuing operations 1,373 1,328 3,960 3,797 5,240 Sales by category EUR million 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Aftermarket 778 707 2,229 2,071 2,805 Aggregates 105 100 297 304 403 Minerals 672 607 1,932 1,767 2,402 Projects, equipment and goods 595 621 1,731 1,727 2,435 Aggregates 219 208 669 632 863 Minerals 377 412 1,062 1,094 1,572 Sales, continuing operations 1,373 1,328 3,960 3,797 5,240 Sales by timing of revenue recognition EUR million 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 At a point in time 1,023 1,001 3,015 2,924 3,978 Over time 350 327 945 873 1,262 Sales, continuing operations 1,373 1,328 3,960 3,797 5,240 Sales by destination EUR million 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Europe 228 286 761 802 1,111 North and Central America 338 269 899 797 1,081 South America 292 281 820 786 1,064 APAC 220 225 656 687 936 Africa, Middle East and India 294 267 824 726 1,048 Sales, continuing operations 1,373 1,328 3,960 3,797 5,240 Metso’s Interim Report January 1 – September 30, 2026 24
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4. Financial risk management As a global company, Metso is exposed to a variety of business and financial risks. Financial risks are managed centrally by Group Treasury under annually reviewed written policies approved by the Board of Directors. Treasury operations are monitored by the Treasury Management Team chaired by the CFO. Group Treasury identifies, evaluates, and hedges financial risks in close cooperation with the operating units. Group Treasury functions as a counterparty to the operating units, centrally manages external funding, and is responsible for the management of financial assets and appropriate hedging measures. The objective of financial risk management is to minimize potential adverse effects on Metso's financial performance. Liquidity and refinancing risk, capital structure management Liquidity or refinancing risk arises when a company is not able to arrange funding on terms and conditions corresponding to its creditworthiness. Sufficient cash, short-term investments, and committed and uncommitted credit facilities are maintained to protect short-term liquidity. Diversification of funding among different markets and an adequate number of financial institutions is used to safeguard liquidity. Group Treasury monitors bank account structures, cash balances, and forecasts of the operating units, and manages the utilization of the consolidated cash resources. Metso's liquidity position remained robust. As of September 30, 2026, liquid funds, consisting of cash and cash equivalents, amounted to EUR 445 million (EUR 501 million on December 31, 2025). There were no deposits or securities with a maturity of more than three months (EUR 0 million on December 31, 2025). Metso maintains a committed syndicated revolving credit facility of EUR 700 million, maturing in 2031 with one one-year extension option. This facility incorporates sustainability performance targets that influence borrowing costs. As of September 30, 2026, the facility remained undrawn. Additionally, the company operates a EUR 600 million Finnish commercial paper program, from which EUR 94 million was utilized as of September 30, 2026. The company also signed a EUR 50 million term loan for three years, which was undrawn at the end of the period. As of September 30, 2026, Metso had EUR 1,055 million in bonds outstanding at carrying value ( December 31, 2025: EUR 1,060 million). The average interest rate of loans and derivatives was 3.6% on September 30, 2026. The duration of interest- bearing debt, excluding lease liabilities and the Aggregates technology center financing arrangement, was 1.9 years and the average maturity 3.1 years. Capital structure management at Metso comprises both equity and interest-bearing debt. As of September 30, 2026, the equity attributable to shareholders was EUR 2,722 million (EUR 2,663 million on December 31, 2025), and the amount of interest-bearing debt, excluding lease liabilities, was EUR 1,500 million (EUR 1,467 million on December 31, 2025). Metso announced on June 3, 2024, that it will build a modern Aggregates technology center in Lahdesjärvi, Tampere, Finland. The new technology center will enable the transfer of current operations in Tampere city center into modern and sustainable manufacturing premises. Construction work started in July 2024, and the first phase investment of approximately EUR 150 million is expected to be completed in 2027. Metso announced on June 2, 2026, its decision to invest in the second phase. The approximately EUR 60 million investment includes the construction of a new crusher factory and will be distributed over three years. The 2026 share of the investment is estimated at approximately EUR 15 million. The new technology center is expected to be fully completed by the mid-2030s. As of September 30, 2026, the cumulative recorded investment amount was EUR 88 million (December 31, 2025: EUR 55 million). The financing arrangement of the project has been presented in other long- term debt. The amount of interest directly attributable to the construction and capitalized in the balance sheet as of September 30, 2026 was EUR 2.3 million (December 31, 2025: EUR 1.2 million). Metso has a ‘Baa2’ long-term issuer rating with positive outlook from Moody’s Investor Service. There are no financial covenants in Metso’s financing agreements. Metso is in compliance with its debt instruments. 5. Fair value estimation For those financial assets and liabilities that have been recognized at fair value in the balance sheet, the following measurement hierarchy and valuation methods have been applied: Level 1 Unadjusted quoted prices in active markets at the balance sheet date. The market prices are readily and regularly available from an exchange, dealer, broker, market information service system, pricing service, or regulatory agency. The quoted market price used for financial assets is the current bid price. Level 1 financial instruments include fund investments classified as fair value through profit and loss. Level 2 The fair value of financial instruments in Level 2 is determined using valuation techniques. These techniques utilize observable market data readily and regularly available from an exchange, dealer, broker, market information service system, pricing service, or regulatory agency. Level 2 financial instruments include: • Over-the-counter derivatives classified as financial assets/liabilities at fair value through profit and loss or qualified for hedge accounting • Debt securities classified as financial instruments at fair value through profit and loss • Fixed-rate debt under fair value hedge accounting Level 3 A financial instrument is categorized into Level 3 if the calculation of the fair value cannot be based on observable market data. There were no such instruments on September 30, 2026, or on December 31, 2025. Metso’s Interim Report January 1 – September 30, 2026 25
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The next table presents financial assets and liabilities that are measured at fair value. There have been no transfers between fair value levels during the presented period. Sep 30, 2026 EUR million Level 1 Level 2 Level 3 Assets Financial assets at fair value through profit and loss Derivatives not under hedge accounting – 21 – Financial assets at fair value through other comprehensive income Derivatives under hedge accounting – 14 – Total – 35 – Liabilities Financial liabilities at fair value through profit and loss Derivatives not under hedge accounting – 26 – Financial liabilities at fair value through other comprehensive income Derivatives under hedge accounting – 30 – Total – 57 – Dec 31, 2025 EUR million Level 1 Level 2 Level 3 Assets Financial assets at fair value through profit and loss Derivatives not under hedge accounting – 20 – Financial assets at fair value through other comprehensive income Derivatives under hedge accounting – 11 – Total – 31 – Liabilities Financial liabilities at fair value through profit and loss Derivatives not under hedge accounting – 19 – Financial liabilities at fair value through other comprehensive income Derivatives under hedge accounting – 15 – Total – 35 – The carrying value of financial assets and liabilities other than those presented in this fair-value level hierarchy table approximates their fair value. Fair values of other debt are calculated as net present values. 6. Notional amounts of derivative instruments EUR million Sep 30, 2026 Sep 30, 2025 Dec 31, 2025 Forward exchange rate contracts 3,658 2,889 3,346 Interest-rate swaps 455 455 455 7. Contingent liabilities and commitments EUR million Sep 30, 2026 Sep 30, 2025 Dec 31, 2025 Guarantees External guarantees given by Parent and Group companies 1,329 1,315 1,268 Total 1,329 1,315 1,268 8. Acquisitions Acquisitions 2026 On February 2, 2026, Metso acquired all shares of Multiskilled Resources Australia Pty Ltd (MRA). The company specializes in providing engineering, automation, and software solutions for bulk material handling operators, and it is a leading provider of automation and digitalization technology solutions for ports and terminals worldwide . MRA is an Australian company based in Newcastle, NSW, Australia, with approximately 60 employees. The acquired business was consolidated into the Minerals segment. Sales of the acquired business in the financial year that ended in June 2025 were approximately EUR 8 million. Assets and liabilities recognized as a result of the acquisition EUR million Fair value Fixed assets 21 Inventory 0 Other assets 2 Liabilities -4 Net identifiable assets acquired at fair value 19 Goodwill (provisional) 13 Purchase consideration 32 Contingent consideration -7 Cash consideration paid 25 Metso’s Interim Report January 1 – September 30, 2026 26
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Goodwill is mainly attributable to synergies. Goodwill is not deductible for tax purposes. The initial calculation of goodwill generated is based on the results of the acquired company, adjusted by changes in accounting principles, and the effects of the fair value adjustment of acquired assets and related tax adjustments. Cash flow impact of the acquisition EUR million Cash flow Cash consideration paid -25 Cash and cash equivalents acquired 1 Net cash flow for the year -24 Contingent consideration -7 Cash consideration, total -31 The condensed consolidated statement of cash flows includes EUR 1 million earn-out payments from previous year's acquisitions in addition to the above cash flow impact in the line item Business acquisitions, net of cash acquired. Acquisitions 2025 Metso completed the acquisition of Swiss Tower Mills Minerals AG (STM) on April 1, 2025, by acquiring an 85% share of the company. Previously, Metso had a 15% minority ownership in the company, which has been valued at fair value following the transaction. STM’s expertise in vertical grinding mills strengthens Metso’s leading comminution solutions portfolio for the mining industry, playing a vital role in energy-efficient solutions for the diverse needs of customers, and enabling Metso to provide enhanced service levels to customers using stirred mill technology. The acquired business was consolidated into the Minerals segment. Sales of the acquired business in the financial year that ended in December 2024 were approximately EUR 25 million. This sales figure does not reflect the full scope of STM's business operations, as Metso has for years held exclusive rights to sell and service STM's grinding mills. The business employed about 30 people at the time of acquisition. Metso completed the acquisition of Saimu Technology (Shenyang) Co., Ltd (Saimu) on July 3, 2025, by acquiring a 100% share of the company. The acquisition further enriches Metso’s product portfolio and strengthens its competitiveness and market position in the screening business. The acquired business was consolidated into the Minerals segment. Sales of the acquired business in the financial year that ended in December 2024 were approximately EUR 13 million. The business employed about 180 people at the time of acquisition. Metso completed the acquisition of Q&R Industrial Hoses Pty Ltd on October 1, 2025, by acquiring a 100% share of the company. The acquisition strengthens Metso's offering in comprehensive, end-to-end slurry handling solutions and services. The acquired business was consolidated into the Minerals segment. Sales of the acquired business in the financial year that ended in December 2024 were approximately EUR 2 million. The business employed about 20 people at the time of acquisition. Assets and liabilities recognized as a result of the acquisitions EUR million Fair value Fixed assets 57 Inventory 5 Other assets 50 Liabilities -43 Net identifiable assets acquired at fair value 69 Goodwill 132 Purchase consideration 201 Contingent consideration -1 Previously owned shares at fair value -29 Cash consideration paid 172 Goodwill is mainly attributable to synergies. Goodwill is not deductible for tax purposes. The calculation of goodwill generated is based on the results of the acquired company, adjusted by changes in accounting principles, and the effects of the fair value adjustment of acquired assets and related tax adjustments. Cash flow impact of the acquisitions EUR million Cash flow Cash consideration paid -172 Cash and cash equivalents acquired 36 Net cash flow for the year -136 Contingent consideration -1 Cash consideration, total -137 Metso’s Interim Report January 1 – September 30, 2026 27
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9. Business disposals Business disposals 2026 On January 2, 2026, Metso completed the divestment of its Ferrous business to SMS group, a global company providing technology and services in plant construction and mechanical engineering for the metals industry. Approximately 180 employees, primarily based in Germany, India and China, have transferred to the SMS group in connection with the divestment. The Ferrous business has been reported as discontinued operations since September 30, 2023. For more information, see Note 10. Discontinued operations. On February 2, 2026, Metso completed the divestment of its loading and hauling business to Miilux Oy, a Finnish- based company that sells and manufactures wear-resistant and personal protection solutions, utilizing its own brands and innovations. As part of the transaction approximately 100 employees transferred from Metso to Miilux Oy. The transaction did not have a material impact on Metso's financial result. Assets and liabilities disposed as a result of the disposals EUR million Ferrous Loading and hauling Total Goodwill – 1 1 Fixed assets 18 6 24 Inventory 7 8 15 Receivables 10 1 11 Liquid funds 10 0 11 Liabilities -39 -4 -43 Net assets of disposed business 6 12 18 Consideration received in cash 18 1 19 Net assets of disposed business -6 -12 -18 Result on disposal 12 -12 0 Net cash flow impact of the disposals EUR million Ferrous Loading and hauling Total Consideration received in cash 17 1 18 Cash and cash equivalents disposed of -10 0 -11 Net cash inflow on disposal 6 0 7 Business disposals 2025 There were no business disposals in 2025. 10. Discontinued operations On March 29, 2023, Metso announced its decision to initiate the divestment of the Metals & Chemical Processing and the Ferrous & Heat Transfer businesses. Starting from September 30, 2023, these businesses were classified as discontinued operations. On May 30, 2025, Metso announced the sale of its Ferrous business to SMS group, and the divestment was completed on January 2, 2026. The result on disposal recognized in 2026 is presented within the result of discontinued operations. For more information, see Note 9. Business disposals. Metso decided to retain the businesses not included in the transaction, and these operations were reclassified as continuing operations as of July 1, 2025. As a result, related assets and liabilities as well as income statement items have been reclassified into continuing operations, and comparative income statement figures have been re- presented accordingly. The reclassified assets included EUR 29 million of goodwill, EUR 26 million of intangible a s s e t s , E U R 1 m i l l i o n o f o t h e r n o n ‑ c u r r e n t a s s e t s , E U R 1 3 m i l l i o n o f i n v e n t o r i e s , a n d E U R 5 7 m i l l i o n o f t r a d e a n d other current receivables, as well as EUR 74 million of current liabilities. Depreciation and amortization of fixed assets and right-of-use assets were resumed, with the cumulative impact from October 1, 2023, to June 30, 2025, recognized through the income statement on July 1, 2025 and adjusted on the balance sheet under continuing operations. The amount of resumed amortization and depreciation was EUR 3 million. These reclassifications to continuing operations are reflected in segment reporting under the Minerals segment. In 2026, discontinued operations include only the result on disposal. No other income or expense items related to discontinued operations were recognized during the period. Items related to discontinued operations for the comparative periods are presented in the tables below. Metso’s Interim Report January 1 – September 30, 2026 28
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Consolidated statement of income in comparison periods 1–9/2025 1–12/2025 EUR million Continuing operations Discontinued operations Metso total Continuing operations Discontinued operations Metso total Sales 3,797 35 3,833 5,240 37 5,277 Cost of sales -2,572 -48 -2,620 -3,561 -40 -3,602 Gross profit 1,225 -13 1,212 1,679 -3 1,675 Selling and marketing expenses -350 -4 -354 -465 -5 -470 Administrative expenses -280 -8 -288 -402 -13 -415 Research and development expenses -80 -1 -82 -109 -2 -112 Other operating income and expenses, net 37 -21 16 32 -36 -4 Share of results of associated companies 0 1 1 0 0 1 Operating profit 551 -46 506 735 -59 676 Finance income and expenses, net -69 – -69 -99 – -99 Profit before taxes 483 -46 437 636 -59 577 Income taxes -119 4 -115 -150 0 -150 Profit for the period 364 -41 323 486 -59 427 Profit attributable to Shareholders of the Parent Company 363 -41 322 482 -59 423 Non-controlling interests 1 – 1 4 – 4 Earnings per share, EUR 0.44 -0.05 0.39 0.58 -0.07 0.51 Consolidated balance sheet in comparison periods Sep 30, 2025 Dec 31, 2025 EUR million Continuing operations Discontinued operations Metso total Continuing operations Discontinued operations Metso total Non-current assets 3,102 10 3,112 3,100 15 3,116 Inventories 1,905 6 1,911 1,903 7 1,910 Trade and other receivables 1,933 18 1,951 1,668 10 1,678 Liquid funds 461 – 461 501 10 511 Assets total 7,401 34 7,435 7,173 42 7,215 Non-current liabilities 1,829 7 1,836 1,796 6 1,802 Current liabilities 3,001 35 3,036 2,720 17 2,737 Liabilities total 4,830 41 4,871 4,515 24 4,539 Condensed consolidated statement of cash flows in comparison periods 1–9/2025 1–12/2025 EUR million Continuing operations Discontinued operations Metso total Continuing operations Discontinued operations Metso total Operating activities Profit for the period 364 -41 323 486 -59 427 Adjustments to profit for the period 322 24 346 454 24 478 Change in net working capital -70 10 -60 74 -4 70 Cash flow from operations 615 -6 609 1,014 -39 974 Financing items, net -1 – -1 -44 – -44 Income taxes paid -109 0 -109 -152 0 -152 Net cash flow from operating activities 506 -7 499 818 -40 779 Investing activities Net cash flow from investing activities -236 – -236 -277 0 -277 Financing activities Net cash flow from financing activities -211 – -211 -403 – -403 Net change in liquid funds 59 -7 53 138 -40 98 Metso’s Interim Report January 1 – September 30, 2026 29
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11. Segment information, IFRS Orders received EUR million 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Aggregates 292 280 1,065 1,010 1,317 Minerals 1,323 984 3,567 2,960 4,154 Metso total, continuing operations 1,614 1,264 4,632 3,970 5,471 Orders received by aftermarket business EUR million 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Aggregates 96 98 295 307 419 % of orders received 33.0 35.1 27.7 30.4 31.8 Minerals 718 646 2,165 1,961 2,581 % of orders received 54.3 65.6 60.7 66.3 62.1 Metso total, continuing operations 814 744 2,460 2,269 3,000 % of orders received 50.4 58.9 53.1 57.1 54.8 Sales EUR million 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Aggregates 324 309 966 936 1,266 Minerals 1,049 1,019 2,994 2,861 3,974 Metso total, continuing operations 1,373 1,328 3,960 3,797 5,240 Sales by aftermarket business EUR million 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Aggregates 105 100 297 304 403 % of sales 32.5 32.5 30.7 32.4 31.8 Minerals 672 607 1,932 1,767 2,402 % of sales 64.1 59.6 64.5 61.8 60.4 Metso total, continuing operations 778 707 2,229 2,071 2,805 % of sales 56.6 53.3 56.3 54.5 53.5 Adjusted EBITA and operating profit, continuing operations EUR million, % 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Aggregates Adjusted EBITA 53 48 157 142 196 % of sales 16.4 15.6 16.2 15.2 15.5 Amortization of intangible assets -5 -5 -16 -17 -21 Adjustment items -1 0 -1 -1 -5 Operating profit 47 43 140 125 169 % of sales 14.6 13.8 14.5 13.3 13.4 Minerals Adjusted EBITA 189 184 539 491 680 % of sales 18.0 18.0 18.0 17.1 17.1 Amortization of intangible assets -15 -13 -43 -41 -55 Adjustment items -12 -2 -41 11 -9 Operating profit 162 169 455 461 616 % of sales 15.5 16.5 15.2 16.1 15.5 Group Head Office and other Adjusted EBITA -11 -10 -41 -36 -47 Amortization of intangible assets -2 0 -5 -1 -4 Adjustment items 1 5 -1 3 1 Operating profit -12 -6 -47 -34 -51 Metso total, continuing operations Adjusted EBITA 230 222 655 597 829 % of sales 16.8 16.7 16.5 15.7 15.8 Amortization of intangible assets -22 -19 -63 -58 -81 Adjustment items -11 2 -43 13 -14 Operating profit 197 205 548 551 735 % of sales 14.4 15.5 13.8 14.5 14.0 Metso’s Interim Report January 1 – September 30, 2026 30
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Adjustment items by category EUR million 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Aggregates Capacity adjustment costs 0 0 -1 -1 -5 Business acquisitions 0 – 0 – – Profits on disposals, net 0 – 0 – – Adjustment items, total -1 0 -1 -1 -5 Minerals Capacity adjustment costs -10 -2 -26 -15 -35 Business acquisitions -2 0 -3 -1 -1 Revaluation of shares – – – 27 27 Profits on disposals, net 0 – -12 – – Wind-down of Russian business – 0 – 0 0 Adjustment items, total -12 -2 -41 11 -9 Group Head Office and other Capacity adjustment costs 0 -1 1 -2 -3 Business acquisitions 1 5 -2 5 4 Profits on disposals, net 0 – 0 – -1 Adjustment items, total 1 5 -1 3 1 Metso total, continuing operations Capacity adjustment costs -10 -3 -27 -19 -43 Business acquisitions -1 5 -5 5 3 Revaluation of shares – – – 27 27 Profits on disposals, net 0 – -12 – -1 Wind-down of Russian business – 0 – 0 0 Adjustment items, total -11 2 -43 13 -14 Quarterly segment information, IFRS Orders received EUR million 7–9/2026 4–6/2026 1–3/2026 10–12/2025 7-9/2025 Aggregates 292 333 440 307 280 Minerals 1,323 1,129 1,115 1,194 984 Metso total, continuing operations 1,614 1,462 1,555 1,501 1,264 Sales EUR million 7–9/2026 4–6/2026 1–3/2026 10–12/2025 7-9/2025 Aggregates 324 342 299 330 309 Minerals 1,049 992 953 1,113 1,019 Metso total, continuing operations 1,373 1,334 1,252 1,443 1,328 Adjusted EBITA EUR million 7–9/2026 4–6/2026 1–3/2026 10–12/2025 7-9/2025 Aggregates 53 56 48 53 48 Minerals 189 182 168 190 184 Group Head Office and other -11 -16 -13 -11 -10 Metso total, continuing operations 230 221 203 232 222 Adjusted EBITA, % of sales % 7–9/2026 4–6/2026 1–3/2026 10–12/2025 7-9/2025 Aggregates 16.4 16.3 16.0 16.2 15.6 Minerals 18.0 18.3 17.6 17.1 18.0 Group Head Office and other n/a n/a n/a n/a n/a Metso total, continuing operations 16.8 16.6 16.2 16.1 16.7 Amortization of intangible assets EUR million 7–9/2026 4–6/2026 1–3/2026 10–12/2025 7-9/2025 Aggregates -5 -5 -5 -5 -5 Minerals -15 -14 -14 -14 -13 Group Head Office and other -2 -2 -1 -3 0 Metso total, continuing operations -22 -21 -21 -22 -19 Metso’s Interim Report January 1 – September 30, 2026 31
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Adjustment items EUR million 7–9/2026 4–6/2026 1–3/2026 10–12/2025 7-9/2025 Aggregates -1 -1 0 -4 0 Minerals -12 -13 -16 -21 -2 Group Head Office and other 1 -1 0 -2 5 Metso total, continuing operations -11 -15 -17 -27 2 Operating profit EUR million 7–9/2026 4–6/2026 1–3/2026 10–12/2025 7-9/2025 Aggregates 47 50 43 45 43 Minerals 162 155 138 155 169 Group Head Office and other -12 -19 -15 -17 -6 Metso total, continuing operations 197 185 165 184 205 Operating profit, % of sales % 7–9/2026 4–6/2026 1–3/2026 10–12/2025 7-9/2025 Aggregates 14.6 14.6 14.2 13.5 13.8 Minerals 15.5 15.6 14.4 14.0 16.5 Group Head Office and other n/a n/a n/a n/a n/a Metso total, continuing operations 14.4 13.9 13.2 12.7 15.5 Order backlog EUR million Sep 30, 2026 Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Aggregates 511 544 574 433 443 Minerals 3,372 3,118 3,037 2,867 2,796 Metso total, continuing operations 3,883 3,662 3,610 3,300 3,239 Discontinued operations – – – 70 60 Metso total 3,883 3,662 3,610 3,370 3,299 The previously reported December 2025 order backlog has been adjusted downward by EUR 157 million following the identification of a reporting discrepancy. 12. Exchange rates Currency 1–9/2026 1–9/2025 1–12/2025 Sep 30, 2026 Sep 30, 2025 Dec 31, 2025 AUD Australian dollar 1.6589 1.7431 1.7484 1.6297 1.7760 1.7581 BRL Brazilian real 6.0071 6.3036 6.2973 5.9077 6.2432 6.4364 CAD Canadian dollar 1.6099 1.5616 1.5744 1.6105 1.6346 1.6088 CLP Chilean peso 1,058.8670 1,070.7285 1,071.1612 1,104.6550 1,130.0350 1,057.9400 CNY Chinese yuan 7.9301 8.0270 8.0693 7.6130 8.3591 8.2262 GBP Pound sterling 0.8646 0.8480 0.8546 0.8546 0.8734 0.8726 INR Indian rupee 108.8855 96.3369 98.0741 108.8205 104.2548 105.5965 SEK Swedish krona 10.9097 11.1231 11.0728 11.3310 11.0565 10.8215 USD US dollar 1.1615 1.1129 1.1243 1.1355 1.1741 1.1750 13. Events after the reporting period On October 20, Metso announced the signing of an agreement to acquire the Brazilian company Italbronze Ltda. The acquisition reinforces Metso's position as one of the world's leading crushing technology providers by securing a strategically important manufacturing capability and critical know-how for its crushing aftermarket business. Approximately 470 employees will join Metso upon closing of the transaction. The acquisition is expected to be completed by the end of 2026, subject to approval by the antitrust authorities. Acquisition is not expected to have a material impact on Metso’s financial performance. Metso’s Interim Report January 1 – September 30, 2026 32
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It should be noted that certain statements herein which are not historical facts, including, without limitation, those regarding expectations for general economic development and the market situation, expectations for customer industry profitability and investment willingness, expectations for company growth, development and profitability and the realization of synergy benefits and cost savings, and statements preceded by “expects”, “estimates”, “forecasts” or similar expressions, are forward-looking statements. These statements are based on current decisions and plans and currently known factors. They involve risks and uncertainties that may cause the actual results to differ materially from the results currently expected by the company. Such factors include, but are not limited to: (1) general economic conditions, including fluctuations in exchange rates and interest levels which influence the operating environment and profitability of customers and thereby the orders received by the company and their margins, (2) the competitive situation, especially significant technological solutions developed by competitors, (3) the company’s own operating conditions, such as the success of production, product development, and project management and their continuous development and improvement, (4) the success of pending and future acquisitions and restructuring. Metso’s Interim Report January 1 – September 30, 2026 33
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Metso’s financial information in 2026 Financial Statement Review for 2026 on February 19, 2027 Metso Corporation Group Head Office, Rauhalanpuisto 9, PO Box 1000, FIN-02231 Espoo, Finland Tel. +358 20 484 100 www.metso.com