Interim report
Page 1
Q3 INTERIM REPORT JANUARY 1 – SEPTEMBER 30, 2026
Page 2
1 (37) Suominen Corporation’s Interim Report on November 5, 2026, at 9:00 a.m. (EET) Suominen Corporation’s Interim Report for January 1–September 30, 2026: Continued performance improvement in the third quarter In this financial report, the figures shown in brackets refer to the comparison period last year if not otherwise stated. July–September 2026 in brief: - Net sales increased by 1.3% and amounted to EUR 101.1 million (99.8) - Comparable EBITDA was EUR 5.1 million (3.4) - Cash flow from operations was EUR -8.5 million (15.7) January–September 2026 in brief: - Net sales decreased by 4.7% and amounted to EUR 302.3 million (317.1) - Comparable EBITDA was EUR 11.6 million (10.7) - Cash flow from operations was EUR -8.5 million (5.2) - Gearing was 65.1% (76.0%) Outlook for 2026 (unchanged) Suominen expects that its comparable EBITDA (earnings before interest, taxes, depreciation and amortization) in 2026 will improve from 2025. In 2025, Suominen’s comparable EBITDA was EUR 12.6 million.
Page 3
2 (37) KEY FIGURES 7-9/2026 7-9/2025 1–9/2026 1–9/2025 1–12/2025 Net sales, EUR million 101.1 99.8 302.3 317.1 412.4 Comparable EBITDA, EUR million 5.1 3.4 11.6 10.7 12.6 Comparable EBITDA, % 5.0 3.4 3.8 3.4 3.1 EBITDA, EUR million 3.5 3.3 5.5 10.0 11.3 EBITDA, % 3.5 3.3 1.8 3.1 2.7 Comparable operating profit / loss, EUR million 1.0 -0.7 -0.6 -1.9 -4.2 Comparable operating profit / loss, % 1.0 -0.7 -0.2 -0.6 -1.0 Operating profit / loss, EUR million -0.5 -0.8 -6.7 -2.7 -5.9 Operating profit / loss, % -0.5 -0.8 -2.2 -0.8 -1.4 Profit / loss for the period, EUR million -3.1 -2.0 -11.8 -8.2 -12.1 Cash flow from operations, EUR million -8.5 15.7 -8.5 5.2 12.2 Cash flow from operations per share, EUR(1 -0.08 0.17 -0.08 0.06 0.13 Earnings per share, basic, EUR(1 -0.02 -0.02 -0.11 -0.09 -0.13 Return on invested capital, rolling 12 months, % -5.5 -1.0 -3.3 Gearing, % 65.1 76.0 80.7 1) Rights issue was implemented in June 2026. The number of shares and the share price and key ratios based on these for the current and comparative periods have been restated accordingly. CEO REVIEW “The nonwoven demand remained stable during the third quarter of 2026, and in line with the first half of the year. The adoption of non-plastic solutions continued to grow as customers increasingly seek more sustainable alternatives. The business context continued to be influenced by geopolitical uncertainties with fluctuations in raw material and energy costs. We proceeded with our pricing management to secure margin recovery and mitigate the impact of input cost fluctuations on our profitability. In the third quarter of 2026, our net sales increased by 1.3% and amounted to EUR 101.1 million (EUR 99.8 million) and comparable EBITDA increased to EUR 5.1 million (EUR 3.4 million). Profitability improved as a result of higher production volume, and lower fixed costs. Our cash flow from operations was negatively impacted by net working capital, as EUR 8.8 million was tied to it during the third quarter. The build-up was largely driven by increased raw material stock on the back of volatile supply market as well as operational disruptions in the US. We continue to take actions to optimize the net working capital as part of the Full Potential Program.
Page 4
3 (37) During the third quarter, we continued the execution of the Full Potential Program which was launched in January 2026 with the objective of improving profitability and achieving a 10% EBITDA margin. The program focuses on improving our production and supply, operational efficiency, and commercial capabilities. In the third quarter 2026, we saw emerging benefits from the first actions implemented during the first part of the year. We are still at early stage in the roadmap and execution of the program. While we see tangible improvement in all our transformation streams, we continued to face operational challenges related to equipment reliability during the third quarter. We experienced disruptions on two production lines in the United States, which negatively affected our output capacity and delivery reliability. Improving reliability and operational excellence remains one of the key priorities of our Full Potential Program. In September, we started commercial deliveries from our new sustainable nonwovens production line in Alicante, Spain. The ramp-up will continue throughout the remainder of 2026 and in 2027. The new production line is expected to strengthen our manufacturing capability for sustainable nonwovens and support profitable future growth in the years ahead. The successful equity raise completed in June strengthened our financial position. The gross proceeds of approximately EUR 28 million received from the offering early July support both future investments in developing our operations and the execution of the Full Potential Program. While our transformation journey is still in its early stages, the seeds have been planted. We expect the full benefits of the program to materialize gradually over the coming years. Our development initiatives are beginning to produce visible results and the long-term market trend towards more sustainable and non-plastic solutions continues to support our business. While there is still considerable work ahead of us, our direction and ambition are clear.” Charles Héaulmé President and CEO
Page 5
4 (37) CONTENTS KEY FIGURES ................................................................................................................................................................................... 2 CEO REVIEW ................................................................................................................................................................................... 2 HIGHLIGHTS OF THE REPORTING PERIOD ......................................................................................................................... 5 PROGRESS IN SUSTAINABILITY .............................................................................................................................................. 7 INFORMATION ON SHARES AND SHARE CAPITAL ........................................................................................................ 8 BUSINESS ENVIRONMENT ...................................................................................................................................................... 10 SHORT TERM RISKS AND UNCERTAINTIES ..................................................................................................................... 12 KEY RATIOS ................................................................................................................................................................................... 14 CALCULATION OF KEY RATIOS AND ALTERNATIVE PERFORMANCE MEASURES ...................................... 15 QUARTERLY DEVELOPMENT ............................................................................................................................................ 23 TABLES ............................................................................................................................................................................................ 24 ACCOUNTING PRINCIPLES ............................................................................................................................................... 24 CONSOLIDATED STATEMENT OF FINANCIAL POSITION ..................................................................................... 25 CONSOLIDATED STATEMENT OF PROFIT OR LOSS ............................................................................................... 26 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME ........................................................................... 27 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ....................................................................................... 28 CONSOLIDATED STATEMENT OF CASH FLOWS ...................................................................................................... 30 NOTES ............................................................................................................................................................................................. 31
Page 6
5 (37) HIGHLIGHTS OF THE REPORTING PERIOD NET SALES July–September 2026 In July–September 2026, Suominen’s net sales increased by 1.3% from the comparison period to EUR 101.1 million (99.8). Sales volumes were roughly at the level of the comparison period while sales prices increased slightly driven by increased raw material cost. The positive impact of currencies on net sales was EUR 1.4 million. The net sales of the Americas business area were EUR 63.8 million (60.3) and of the EMEA business area EUR 37.2 million (39.5). January–September 2026 In January–September 2026, Suominen’s net sales decreased by -4.7% from the corresponding period in 2025 and amounted to EUR 302.3 million (317.1). Sales volumes were roughly at the comparison period’s level, but sales prices decreased primarily due to changes in sales mix and decreasing raw material cost. The negative impact of currencies on net sales was EUR 5.4 million. The net sales of the Americas business area were EUR 185.2 million (193.7) and of the EMEA business area EUR 117.0 million (123.4). EBITDA, OPERATING PROFIT / LOSS AND RESULT July–September 2026 Comparable EBITDA (earnings before interest, taxes, depreciation and amortization) was EUR 5.1 million (3.4). The increase was mainly driven by higher production volume and lower fixed costs. Sales mix and certain production cost increases contributed negatively. Sequentially, we saw positive development in our sales price development compared to raw material cost change. Suominen has, where possible, adopted a monthly pricing model, replacing its previous quarterly pricing approach, and the effects of the transformation were becoming visible in the third quarter. EBITDA was EUR 3.5 million (3.3), as Suominen continued to incur items affecting comparability mainly arising from the Full Potential Program related costs, including severance payments and consulting fees. The items affecting comparability of EBITDA totalled EUR -1.6 million (-0.1). Comparable operating profit increased from the comparison period driven by improving comparable EBITDA and amounted to EUR 1.0 million (-0.7). Operating profit was EUR -0.5 million (-0.8). The profit before income taxes was EUR -1.8 million (-2.1), and profit for the reporting period was EUR -3.1 million (-2.0).
Page 7
6 (37) January–September 2026 Comparable EBITDA was EUR 11.6 million (10.7). The improvement in comparable EBITDA was primarily driven by lower fixed costs whereas sales mix as well soft profitability in the first quarter impacted negatively. The improvement in EBITDA was also supported by the Full Potential Program actions including pricing, which started to have a slight positive impact as the year has proceeded. EBITDA declined to EUR 5.5 million (10.0), driven mainly by increased amount of items affecting comparability mostly arising from Full Potential Program related costs. The costs included e.g. severance payments and consulting fees. The items affecting comparability of EBITDA totalled EUR - 6.1 million (-0.7). Comparable operating profit was EUR -0.6 million (-1.9). Operating profit decreased and was EUR -6.7 million (-2.7), mainly driven by increased amount of items affecting comparability. The profit before income taxes was EUR -10.1 million (-8.8), and profit for the reporting period was EUR -11.8 million (-8.2). FINANCING The Group’s net interest-bearing liabilities at nominal value amounted to EUR 74.1 million (76.1) at the end of the review period. The gearing ratio was 65.1% (76.0%) and the equity ratio 38.5% (36.1%). In January–September, net financial expenses were EUR -3.4 million (-6.1), or -1.1% (-1.9%) of net sales. Fluctuations in exchange rates decreased the net financial expenses by EUR 0.8 million (increased by EUR 2.1 million). Cash flow from operations in July–September was EUR -8.5 million (15.7) and cash flow per share of EUR –0.08 (0.17). In January–September, cash flow from operations was EUR -8.5 million (5.2), representing a cash flow per share of EUR -0.08 (0.06). In the third quarter, the change in net working capital was EUR -8.8 million (13.9). In January– September, the change in net working capital was EUR -8.1 million (0.9). During the review period, Suominen successfully completed a rights issue offering based on shareholders’ pre-emptive subscription rights, which was oversubscribed in June 2026. In the offering, the company received a gross amount of approximately EUR 28 million (a net amount of EUR 26.0 million, taking into account the costs of the rights offering accumulated up to the end of September). The funds were received in early July 2026. Further information on the rights issue is provided in the “Share Rights Issue” section on page 9. At the end of June 2025, Suominen entered into a single-currency syndicated credit facility agreement which consists of EUR 50 million term loan and EUR 50 million revolving credit facility with a maturity of three years with a one-year extension option. The lenders for the facility are Danske Bank A/S and Nordea Bank Abp. Connected to the rights issue, Suominen signed a two-year maturity extension to the credit facility agreement including additional headroom to the financial covenants. The agreement entered into force on July 3, 2026, upon the completion of the rights issue. The revolving credit facility was
Page 8
7 (37) undrawn at the end of September, 2026. EUR 3 million of the facility was allocated to a letter of credit limit, part of which was in use. The financial covenants of these loans consist of leverage ratio, gearing and minimum liquidity. The covenants are regularly monitored and tested. Suominen was in compliance with financial covenants at the end of the review period. Subsequent to the review period and as part of regular process of analysing the covenant headroom, Suominen has negotiated additional headroom to its leverage ratio covenant level as of end of December 2026. Suominen has issued a senior unsecured bond in 2021 of EUR 50 million. The interest rate is 1.50% and the six-year bond matures on June 11, 2027. Suominen is considering various refinancing alternatives and expects to complete the refinancing in due time before the bond matures. CAPITAL EXPENDITURE In January–September, the gross capital expenditure totalled EUR 12.7 million (17.0), and the largest investments were related to the investment initiatives in Bethune, USA and Alicante, Spain, both of the investments targeting to enhance the profitability and deliver growth. Other investments were mainly maintenance investments. Depreciation, amortization and impairment losses for the review period amounted to EUR 12.2 million (12.6). PROGRESS IN SUSTAINABILITY Suominen has a comprehensive approach to sustainability, and the Sustainability Agenda 2025–2030 defines the focus areas and their KPIs. Suominen’s portfolio includes sustainable nonwovens, and a priority is to continuously develop innovative solutions with reduced environmental impact. The newest sustainable product launch, BIOLACE® Pure, is made of natural cellulosic fibers and has one of the lowest carbon footprints in our product portfolio. Suominen aims for over two-thirds of its consumed raw materials to be from plant-based resources by 2030, and for more than half of the new R&D initiatives to focus on advancing the development of sustainable products. Suominen prioritizes safety and accident prevention, aiming for zero lost time accidents (LTA). Four LTAs occurred in January-September at Suominen sites. Suominen is committed to improving production efficiency and resource utilization, targeting reductions in scope 1, 2, and 3 greenhouse gas emissions in line with the Paris Agreement (limiting global warming to 1.5°C), and achieving zero nonwoven manufacturing waste to landfill by 2030. In line with the 1.5°C climate scenario, the reduction target will be a 42% reduction in absolute GHG emissions across Scopes 1–3. The target period is 2025–2030, with 2024 as the base year. Following a climate resilience analysis conducted last year, Suominen has begun the work of developing a climate roadmap to support the achievement of its emissions reduction target. Suominen reports progress in its key sustainability KPIs annually.
Page 9
8 (37) INFORMATION ON SHARES AND SHARE CAPITAL Share capital The number of Suominen’s registered shares was 135,380,491 on September 30, 2026, equalling to a share capital of EUR 11,860,056.00. A total of 77,121,272 new shares subscribed for in the rights issue have been registered with the Trade Register maintained by the Finnish Patent and Registration Office on 3 July 2026. Share trading and price The number of Suominen Corporation shares traded on Nasdaq Helsinki from January 1 to September 30, 2026, was 4,346,578 shares, accounting for 4% of the share issue adjusted average number of shares (excluding treasury shares). The highest price was EUR 1.17, the lowest EUR 0.44 and the volume-weighted average price EUR 0.61. The closing price at the end of review period was EUR 0.64. The market capitalization (excluding treasury shares) was EUR 86.6 million on September 30, 2026. Authorizations The Board of Directors is authorized to decide on the repurchase of up to 9,582,000 of the company’s own shares and on the issuance of up to 76,658,000 shares or special rights entitling their holders to shares. The authorizations remain valid until June 30, 2027. The authorization were granted to the Board of Directors by the Annual General Meeting of Shareholders held on April 15, 2026, and subsequently amended by the Extraordinary General Meeting held on June 8, 2026. Change in the holding of Suominen’s treasury shares Suominen transferred, without consideration, a total of 324,000 treasury shares to President and CEO Charles Héaulmé as a signing bonus on September 30, 2026. Following the transfer, the Company holds a total of 94,263 treasury shares. The decision on the directed share issue is based on the authorization granted to the Board of Directors by the Annual General Meeting of Shareholders held on April 15, 2026, and subsequently amended by the Extraordinary General Meeting held on June 8, 2026. Treasury shares On September 30, 2026, Suominen Corporation held 94,263 treasury shares. NOTIFICATIONS UNDER CHAPTER 9, SECTION 5 OF THE SECURITIES MARKET ACT Suominen Corporation received a notification on July 9, 2026, referred to Chapter 9, Section 5 and 6 of the Securities Market Act, according to which the shareholding of Mandatum Life Insurance Company Ltd., controlled by Mandatum Plc., in Suominen Corporation has crossed the 5% flagging threshold. Mandatum Life Insurance Company Ltd., controlled by Mandatum Plc., now holds 5.01% of shares and voting rights.
Page 10
9 (37) SHARE RIGHTS ISSUE On May 18, 2026, Suominen announced that it is planning a rights issue to raise gross proceeds of up to approximately EUR 28 million through an offering based on shareholders’ pre-emptive subscription rights. On June 8, 2026, the Board of Directors resolved on a fully underwritten rights issue and published the terms and conditions of the rights issue. The share rights issues subscription period was between June 15 and 29, 2026. A total of 81,504,500 subscriptions for new shares were made in the offering, corresponding to approximately 105.7 per cent of the 77,121,272 new shares that were offered in the offering. This means that the offering was oversubscribed. A total of 74,851,760 new shares were subscribed for with subscription rights, corresponding to approximately 97.1 per cent of the new shares. In addition, 2,269,512 new shares were allocated in accordance with the terms and conditions of the offering in the secondary subscription to subscribers who subscribed for new shares with subscription rights. The subscription price in the offering was EUR 0.36 per new share. On July 2, 2026, the Board of Directors approved the subscriptions made in the rights issue and allocated the new shares to be issued in accordance with the terms and conditions of the rights issue. As a result of the rights issue, the number of Suominen’s shares increased by 77,121,272 shares from 58,259,219 shares to a total of 135,380,491 shares. The new shares subscribed for in the rights issue were registered with the Finnish Trade Register on July 3, 2026. Suominen received gross proceeds of approximately EUR 28 million from the offering in the beginning of July 2026. REMUNERATION Changes to share-based incentive plans for management and key employees The Suominen Leadership Team and key employees participate in the Company's share-based incentive plans. The plans are described in more detail in the financial statements and the remuneration report, available on the Company's website at www.suominen.fi. In September 2026, Suominen announced that the Board of Directors had resolved on changes to the Company’s existing share-based incentive plans, including the long-term share-based incentive plan for management and key employees and the restricted share unit plan for selected key employees. The changes also concerned President and Chief Executive Officer Charles Héaulmé’s share-based signing bonus and annual share contribution arrangement. The changes were related to the rights issue completed during the summer of 2026, which increased the total number of shares in the Company from 58,259,219 to 135,380,491. The purpose of the changes was to ensure that the same value, in euro terms, remained attached to the incentive arrangements as before the rights issue, taking into account the mechanical change in the share price resulting from the rights issue. Accordingly, the maximum number of reward shares
Page 11
10 (37) under the long-term share-based incentive plan, the restricted share unit plan and the president and chief executive officer’s share-based incentive arrangements was adjusted. The adjustments were intended to preserve the value of the incentive arrangements following the rights issue and were not intended to increase their economic value. The Board of Directors also resolved on changes to the total shareholder return performance criteria of the long-term share-based incentive plan. Suominen announced the changes in a stock exchange release on September 16, 2026. BUSINESS ENVIRONMENT Suominen’s nonwovens are, for the most part, used in daily consumer goods, such as wipes as well as in hygiene and medical products. In these target markets of Suominen, the general economic situation determines the development of consumer demand, even though the demand for consumer goods is not very cyclical in nature. North America and Europe are the largest market areas for Suominen. In addition, the company operates in the South American markets. The growth in the demand for nonwovens typically follows the growth of gross domestic product (GDP). However, there are variations between categories: rising applications such as moist toilet tissue typically outperform the GDP growth, while mature categories such as baby wipes grow less than the GDP. During the third quarter of 2026, there were no significant changes in market demand. Demand sentiment in North America remained somewhat stronger than in Europe, but overall demand remained stable across both key markets. During the reporting period, Suominen’s operating environment continued to be characterized by macroeconomic uncertainty and geopolitical tensions, including the war in Iran. Rising oil and natural gas prices affected energy and oil-based raw material pricing. Raw material prices increased at a more moderate pace during the third quarter than in the second quarter, when the geopolitical situation in Iran affected raw material pricing and led Suominen to move from a quarterly pricing model to a monthly pricing model. Towards the end of the third quarter, raw material price development stabilized and market conditions became more balanced. At the same time, competition remained intense. Imports from Asia, primarily China, continued to increase supply in both the European and North American markets. The resulting imbalance between supply and demand intensified competition and increased pricing pressure across several product categories. We continued to see signs of aggressive pricing by suppliers from low-cost countries. In addition, uncertainty related to international trade policies and changes in U.S. tariffs and tariff practices continue to affect the operating environment. During the third quarter, the availability of pulp-based fibers was at times constrained in Europe. Suominen continued to replace viscose with lyocell in selected products. In many applications, lyocell offers improved performance characteristics as well as environmental benefits compared to traditional fiber alternatives.
Page 12
11 (37) PROFITABILITY IMPROVEMENT PROGRAM, NEW OPERATING MODEL AND LEADERSHIP TEAM On January 29, 2026, Suominen announced that the company is launching a three-year program to improve the company’s profitability. The Full Potential Program targets 10% EBITDA. Suominen also introduced a new functional operating model, with a dedicated focus on customers and factories, designed to strengthen expertise and effectiveness. The short-term priority remains to restore the profitability. Once this project has sufficiently progressed, the company will develop its long-term strategy and financial targets. The Full Potential Program targets delivering 10% EBITDA and a 2x–3x leverage ratio (net debt/EBITDA). The program is planned to involve an estimated investment of approximately EUR 30 million over the coming years, of which transformation costs are estimated at EUR 10 million and capital expenditures to upgrade manufacturing capabilities around EUR 20 million. New operating model as of February 1, 2026 Effective February 1, 2026, Suominen’s new functional operating model strengthens focus on strategic priorities, sharpens accountability across the organization, and creates a tighter connection between customer needs, technology development, and operational performance. In the new model, commercial functions were brought together to reinforce focus on growth and business development and ensuring strong strategic alignment between R&D and customer management. The sales organization will build deep global expertise while maintaining a strong local presence to serve customers effectively across all markets, under the leadership of the Chief Commercial and Technology Officer (CCTO). The role of Chief Operating Officer (COO) was broadened to command all factories, safety, manufacturing engineering, procurement, and supply chain. With this change, Suominen aims to strengthen operational reliability and output by sharpening its focus on manufacturing performance and ensuring systematic deployment of best practices, continuous improvement, and harmonized processes. The changes aim to strengthen profit and loss accountability, enhance execution discipline, and improve decision-making across both operations and commercial functions.- Changes in the Suominen Leadership Marika Väkiparta (LL.M.), Chief Strategy and Transformation Officer (previously also acting as Interim General Counsel) has left the role effective September 17, 2026. Marika continued with Suominen until the end of October 2026, focusing on strategic projects. Eevaleena Mäki-Uuro, previously SVP, Commercial Excellence and Strategic Projects, was appointed Chief Strategy and Transformation Officer (CSTO) and member of the Suominen Leadership Team as of September 17, 2026. Anni Luoma, previously General Counsel, was appointed Chief Legal Officer and member of the Suominen Leadership Team as of September 17, 2026. Suominen Leadership Team as of September 30, 2026:
Page 13
12 (37) • Charles Héaulmé, President and CEO • Kimmo Raunio, Chief Financial Officer • Francois Guetat, Chief Operating Officer • Markku Koivisto, Chief Commercial and Technology Officer • Anni Luoma, Chief Legal Officer • Eevaleena Mäki-Uuro, Chief Strategy and Transformation Officer • Liisa Pursiheimo, Chief Human Resource Officer SUOMINEN`S SHAREHOLDERS` NOMINATION BOARD Suominen announced on September 2, 2026 that the company’s three largest registered shareholders, Ahlstrom Capital B.V., Etola Group Oy and Oy Etra Invest Ab, have nominated the following members to the Shareholders’ Nomination Board: • Jyrki Vainionpää, President & CEO of A. Ahlström Oy, as a member appointed by Ahlstrom Capital B.V. • Mikael Etola, CEO of Etola Group Oy, as a member appointed by Etola Group Oy and Oy Etra Invest Ab Ville Vuori, Chair of Suominen’s Board of Directors, serves as the third member of the Nomination Board. SHORT TERM RISKS AND UNCERTAINTIES The geopolitical instability, particularly linked to the conflicts in the Ukraine and the Middle East, impacted Suominen’s business during the review period, through higher raw material and energy cost as well as raw material availability. Suominen purchases significant amounts of pulp- and oil-based raw materials. The pricing of raw material shifted to a monthly model instead of the quarterly model that has been standard in the industry, which continued during the third quarter of the year 2026. Suominen continues to closely monitor the situation to mitigate any potential impact. Suominen manages potential cost increases through pricing mechanisms to minimize any adverse impact on Suominen’s profitability. From the demand point of view, the wipe market has been historically rather steady and resilient to changing economic conditions, also during periods of disruption. Suominen does not expect a material reduction in consumption, but the wipes market will most likely be affected by inflation. Suominen’s other risks and uncertainties include but are not limited to: risks related to manufacturing, competition, raw material prices and availability, customer specific volumes and credits, changes in legislation, political environment or economic conditions and investments, and financial risks.As part of financial risks, the financial covenants of Suominen’s syndicated credit facility agreement tighten in 2027. Suominen’s ability to comply with the financial covenants depends on the progress of the Full Potential Program, including profitability and cash-flow improvements.
Page 14
13 (37) A more detailed description of risks is available in Suominen’s Annual Report 2025 at www.suominen.fi/investors as well as in the share rights issue material on the page https://merkintaoikeusanti.suominen.fi/en/. The exemption document for the share rights issue can be found via this link: Suominen-Oyj-Exemption-Document-8-June-2026.pdf WEBCAST AND CONFERENCE CALL Charles Héaulmé, President & CEO, and Kimmo Raunio, CFO, will present the result in English in a webcast and a conference call for analysts, investors, and media on November 5, 2026 at 10:30 EET. The webcast can be followed at https://suominen.events.inderes.com/q3-2026. The recording of the audiocast and the presentation material will be available after the event at www.suominen.fi. Conference call participants can access the teleconference by registering at at https://events.inderes.com/suominen/q3-2026/dial-in. The phone numbers and a conference ID to access the conference will be provided after the registration. NEXT FINANCIAL REPORT Suominen Corporation will publish its Financial Statements Bulletin for 2026 on March 2, 2027.
Page 15
14 (37) KEY RATIOS 7-9/2026 7-9/2025 1–9/2026 1–9/2025 1–12/2025 Change in net sales, % * 1.3 -10.6 -4.7 -7.8 -10.8 Gross profit, as a percentage of net sales, % 6.9 6.1 5.9 6.8 6.4 Comparable EBITDA, as percentage of net sales, % 5.0 3.4 3.8 3.4 3.1 EBITDA, as percentage of net sales, % 3.5 3.3 1.8 3.1 2.7 Comparable operating profit / loss, as percentage of net sales, % 1.0 -0.7 -0.2 -0.6 -1.0 Operating profit / loss, as percentage of net sales, % -0.5 -0.8 -2.2 -0.8 -1.4 Net financial items, as percentage of net sales, % -1.2 -1.3 -1.1 -1.9 -1.8 Profit / loss before income taxes, as percentage of net sales, % -1.8 -2.1 -3.3 -2.8 -3.2 Profit / loss for the period, as percentage of net sales, % -3.1 -2.0 -3.9 -2.6 -2.9 Gross capital expenditure, EUR million 3.2 5.2 12.7 17.0 26.3 Depreciation, amortization and impairment losses, EUR million 4.0 4.1 12.2 12.6 17.2 Earnings per share, EUR, basic(1 -0.02 -0.02 -0.11 -0.09 -0.13 Earnings per share, EUR, diluted(1 -0.02 -0.02 -0.11 -0.09 -0.13 Cash flow from operations per share, EUR(1 -0.08 0.17 -0.08 0.06 0.13 Return on equity, rolling 12 months, % -15.1 -6.7 -11.4 Return on invested capital, rolling 12 months, % -5.5 -1.0 -3.3 Equity ratio, % 38.5 36.1 35.3 Gearing, % 65.1 76.0 80.7 Average number of personnel (FTE – full-time equivalent) 664 702 695 Equity per share, EUR(1 0.84 1.08 1.03 Number of shares, end of period, excluding treasury shares(1 135,286,228 93,057,169 93,057,169 Share price, end of period, EUR(1 0.64 1.12 1.11 Share price, period low, EUR(1 0.44 1.05 0.99 Share price, period high, EUR(1 1.17 1.61 1.61 Volume weighted average price during the period, EUR(1 0.61 1.25 1.17 Market capitalization, EUR million(1 86.6 104.6 103.4 Number of traded shares during the period 4,346,578 1,079,011 1,775,659
Page 16
15 (37) Number of traded shares during the period, % of average number of shares(1 4.0 1.2 1.9 * Compared with the corresponding period in the previous year. 1) Rights issue was implemented in June 2026. The number of shares and the share price for the current and comparative periods have been restated accordingly. 30.9.2026 30.9.2025 31.12.2025 Interest-bearing net debt, EUR thousands Non-current interest-bearing liabilities, nominal value 55,563 107,641 106,829 Current interest-bearing liabilities, nominal value 52,892 2,854 2,837 Cash and cash equivalents -34,327 -34,393 -32,064 Interest-bearing net debt 74,129 76,102 77,602 CALCULATION OF KEY RATIOS AND ALTERNATIVE PERFORMANCE MEASURES Key ratios per share are either IFRS key ratios (earnings per share) or required by Ordinance of the Ministry of Finance in Finland or alternative performance measures (cash flow from operations per share). Some of the other key ratios Suominen publishes are alternative performance measures. An alternative performance measure is a key ratio which has not been defined in IFRS Accounting Standards. Suominen believes that the use of alternative performance measures provides useful information for example to investors regarding the Group's financial and operating performance and makes it easier to make comparisons between the reporting periods. The reconciliation between the components of the key ratios per share and the consolidated financial statements is presented in the consolidated financial statements for 2025. The reconciliation between the components of the alternative performance measures and the consolidated financial statements is presented in Suominen’s Annual Report for 2025. Calculation of key ratios per share Earnings per share Basic earnings per share are calculated by dividing the net result attributable to owners of the parent by the weighted share-issue adjusted average number of shares outstanding during the reporting period, excluding shares acquired by the Group and held as treasury shares.
Page 17
16 (37) When calculating diluted earnings per share the number of shares is adjusted with the effects of the share-based incentive plans. Basic earnings per share (EPS) Profit /-loss for the period net of tax = Share-issue adjusted average number of shares excluding treasury shares Diluted earnings per share (EPS) Profit /-loss for the period net of tax = Average diluted share-issue adjusted number of shares excluding treasury shares EUR thousand 30.9.2026 30.9.2025 31.12.2025 Profit / loss for the period -11,772 -8,155 -12,070 Average share-issue adjusted number of shares 107,552,290 93,030,535 93,037,248 Average diluted share-issue adjusted number of shares excluding treasury shares 107,625,526 93,205,014 93,341,794 Earnings per share EUR Basic -0.11 -0.09 -0.13 Diluted -0.11 -0.09 -0.13
Page 18
17 (37) Cash flow from operations per share Cash flow from operations per share Cash flow from operations = Share-issue adjusted average number of shares excluding treasury shares 30.9.2026 30.9.2025 31.12.2025 Cash flow from operations, EUR thousand -8,509 5,190 12,218 Share-issue adjusted average number of shares excluding treasury shares 107,552,290 93,030,535 93,037,248 Cash flow from operations per share, EUR -0.08 0.06 0.13 Equity per share Equity per share Total equity attributable to owners of the parent = Share-issue adjusted number of shares excluding treasury shares. end of reporting period 30.9.2026 30.9.2025 31.12.2025 Total equity attributable to owners of the parent, EUR thousand 113,872 100,153 96,102 Share-issue adjusted number of shares excluding treasury shares, end of reporting period 135,286,228 93,057,169 93,057,169 Equity per share, EUR 0.84 1.08 1.03 Market capitalization Market capitalization = Number of shares at the end of reporting period excluding treasury shares x share price at the end of period 30.9.2026 30.9.2025 31.12.2025 Number of shares at the end of reporting period excluding treasury shares 135,286,228 93,057,169 93,057,169 Share price at end of the period, EUR 0.64 1.12 1.11 Market capitalization, EUR million 86.6 104.6 103.4
Page 19
18 (37) Share turnover Share turnover = The proportion of number of shares traded during the period to weighted average number of shares excluding treasury shares 30.9.2026 30.9.2025 31.12.2025 Number of shares traded during the period 4,346,578 1,079,011 1,775,659 Average number of shares excluding treasury shares 107,552,290 93,030,535 93,037,248 Share turnover, % 4.0 1.2 1.9 Calculation of key ratios and alternative performance measures Operating profit and comparable operating profit Operating profit / loss (EBIT) = Profit / loss before income taxes + net financial expenses Comparable operating profit / loss (EBIT) = Profit / loss before income taxes + net financial expenses. adjusted with items affecting comparability In order to improve the comparability of result between reporting periods. Suominen presents comparable operating profit / loss as an alternative performance measure. Operating profit / loss is adjusted with material items that are considered to affect comparability between reporting periods. These items include, among others, impairment losses or reversals of impairment losses, gains or losses from the sales of property, plant and equipment or intangible assets or other assets and restructuring costs. Comparable EBIT EUR thousand 30.9.2026 30.9.2025 31.12.2025 Operating profit / loss -6,727 -2,670 -5,904 + Dismissal costs affecting comparability 1,389 787 781 + Restoration costs affecting comparability / reversals of restoration provisions − -49 -85 + Other costs affecting comparability 4,720 − 650 + Other operating income, affecting comparability − − -49 + Impairment losses of property, plant and equipment, affecting comparability of result − − 426
Page 20
19 (37) Comparable operating profit / loss -618 -1,933 -4,182 EBITDA and comparable EBITDA EBITDA is an important measure that focuses on the operating performance excluding the effect of depreciation and amortization, financial items and income taxes, in other words what is the margin on net sales after deducting operating expenses. EBITDA = EBIT + depreciation, amortization and impairment losses Comparable EBITDA = EBIT + depreciation, amortization and impairment losses, adjusted with items affecting comparability EUR thousand 30.9.2026 30.9.2025 31.12.2025 Operating profit / loss -6,727 -2,670 -5,904 + Depreciation, amortization and impairment losses 12,221 12,637 17,201 EBITDA 5,494 9,966 11,298 EBITDA 5,494 9,966 11,298 + Dismissal costs affecting comparability 1,389 787 781 + Restoration costs affecting comparability / reversals of restoration provisions - -49 -85 + Other costs affecting comparability 4,720 − 650 + Other operating income, affecting comparability - − -49 Comparable EBITDA 11,603 10,704 12,594 Gross capital expenditure EUR thousand 30.9.2026 30.9.2025 31.12.2025 Increases in intangible assets 350 147 160 Increases in property, plant and equipment 12,340 16,832 26,130 Gross capital expenditure 12,690 16,979 26,289
Page 21
20 (37) Interest-bearing net debt It is the opinion of Suominen that presenting interest-bearing liabilities not only at amortized cost but also at nominal value gives relevant additional information to the investors. Interest-bearing net debt = Interest-bearing liabilities at nominal value - interest-bearing receivables - cash and cash equivalents EUR thousand 30.9.2026 30.9.2025 31.12.2025 Interest-bearing liabilities 108,187 110,032 109,256 Tender and issuance costs of the debentures 269 463 410 Cash and cash equivalents -34,327 -34,393 -32,064 Interest-bearing net debt 74,129 76,102 77,602 Interest-bearing liabilities 108,187 110,032 109,256 Tender and issuance costs of the debentures 269 463 410 Nominal value of interest-bearing liabilities 108,456 110,495 109,666 Return on equity (ROE), % Return on equity (ROE), % = Profit / loss for the reporting period (rolling 12 months) x 100 ______________________________________________________________ Total equity attributable to owners of the parent (quarterly average) EUR thousand 30.9.2026 30.9.2025 31.12.2025 Profit / loss for the reporting period (rolling 12 months) -15,687 -7,310 -12,070 Total equity attributable to owners of the parent 30.9.2025 / 30.9.2024 / 30.6.2025 100,153 110,781 117,608 Total equity attributable to owners of the parent 31.12.2025 / 31.12.2024 / 30.9.2025 96,102 117,608 112,466 Total equity attributable to owners of the parent 31.3.2026 / 31.3.2025 / 31.12.2025 92,529 112,466 101,577 Total equity attributable to owners of the parent 30.6.2026 / 30.6.2025 / 30.9.2025 117,005 101,577 100,153 Total equity attributable to owners of the parent 30.9.2026 / 30.9.2025 / 31.12.2025 113,872 100,153 96,102 Average 103,932 108,517 105,581 Return on equity (ROE), % -15.1 -6.7 -11.4
Page 22
21 (37) Invested capital Invested capital = Total equity + interest-bearing liabilities – cash and cash equivalents EUR thousand 30.9.2026 30.9.2025 31.12.2025 Total equity attributable to owners of the parent 113,872 100,153 96,102 Interest-bearing liabilities 108,187 110,032 109,256 Cash and cash equivalents -34,327 -34,393 -32,064 Invested capital 187,732 175,792 173,294 Return on invested capital (ROI), % Return on invested capital (ROI), % = Operating profit / loss (rolling 12 months) x 100 Invested capital, quarterly average EUR thousand 30.9.2026 30.9.2025 31.12.2025 Operating profit/ loss (rolling 12 months) -9,961 -1,801 -5,904 Invested capital 30.9.2025 / 30.9.2024 / 30.6.2025 175,795 173,650 178,028 Invested capital 31.12.2025 / 31.12.2024 / 30.9.2025 173,294 178,028 179,559 Invested capital 31.3.2026 / 31.3.2025 / 31.12.2025 170,158 179,559 188,099 Invested capital 30.6.2026 / 30.6.2025 / 30.9.2025 204,812 188,099 175,792 Invested capital 30.9.2026 / 30.9.2025 / 31.12.2025 187,732 175,792 173,294 Average 182,358 179,026 178,954 Return on invested capital (ROI), % -5.5 -1.0 -3.3 Equity ratio, %
Page 23
22 (37) Equity ratio, % = Total equity attributable to owners of the parent x 100 Total assets - advances received EUR thousand 30.9.2026 30.9.2025 31.12.2025 Total equity attributable to owners of the parent 113,872 100,153 96,102 Total assets 295,915 277,721 272,391 Advances received -92 -338 -212 295,823 277,383 272,178 Equity ratio, % 38.5 36.1 35.3 Gearing, % Gearing, % = Interest-bearing net debt x 100 Total equity attributable to owners of the parent EUR thousand 30.9.2026 30.9.2025 31.12.2025 Interest-bearing net debt 74,129 76,102 77,602 Total equity attributable to owners of the parent 113,872 100,153 96,102 Gearing, % 65.1 76.0 80.7
Page 24
23 (37) QUARTERLY DEVELOPMENT 2026 2025 EUR thousand 7-9 4–6 1–3 10–12 7–9 4–6 1–3 Net sales 101,098 105,602 95,596 95,338 99,767 99,827 117,501 Comparable EBITDA 5,056 4,346 2,200 1,890 3,428 3,217 4,060 as % of net sales 5.0 4.1 2.3 2.0 3.4 3.2 3.5 Items affecting comparability -1,550 -2,047 -2,512 -558 -102 -636 - EBITDA 3,506 2,299 -312 1,331 3,326 2,581 4,060 as % of net sales 3.5 2.2 -0.3 1.4 3.3 2.6 3.5 Comparable operating profit / loss 1,011 249 -1,878 -2,249 -675 -966 -292 as % of net sales 1.0 0.2 -2.0 -2.4 -0.7 -1.0 -0.2 Items affecting comparability -1,550 -2,047 -2,512 -984 -102 -636 0 Operating profit / loss -539 -1,798 -4,390 -3,233 -777 -1,602 -292 as % of net sales -0.5 -1.7 -4.6 -3.4 -0.8 -1.6 -0.2 Net financial items -1,231 -1,166 -991 -1,365 -1,341 -2,888 -1,874 Profit / loss before income taxes -1,770 -2,964 -5,381 -4,598 -2,117 -4,489 -2,166 as % of net sales -1.8 -2.8 -5.6 -4.8 -2.1 -4.5 -1.8 The items affecting comparability are described in more detail in the section ‘Calculation of key ratios and alternative performance measures’ on page 20.
Page 25
24 (37) TABLES ACCOUNTING PRINCIPLES SUOMINEN GROUP 1.1.–30.9.2026 This interim report has been prepared in accordance with IAS 34 Interim Financial Reporting. The principles for preparing the interim report are the same as those used for preparing the consolidated financial statements for 2025, with the exception of the effect of the new accounting standards and interpretations which have been applied from January 1, 2026. The new or amended standards or interpretations applicable from January 1, 2026, are not material for Suominen Group. New IFRS 18 Presentation and Disclosure in Financial Statements standard will be applicable from January 1, 2027. Also, the consequential amendments to other IFRS Accounting Standards due to application of IFRS 18 are effective from January 1, 2027. The standard will be applied retrospectively. The standard will introduce new categories and subtotals in the statement of profit or loss. It also requires disclosure of management-defined performance measures (MPM) in the financial statements and includes new requirements for the location, aggregation and disaggregation of financial information. IFRS 18 will replace IAS 1 Presentation in Financial Statements. The new standard will change the definition of operating profit or loss (EBIT). Operating profit or loss of Suominen as defined in IFRS 18 will be lower than operating profit or loss calculated before the application of the standard, as certain expenses currently included in financial items will be included in the operating category before operating profit or loss. In addition, some income items included currently in financial items will be, in accordance with the new standard, included in the investing category. After the application of IFRS 18 standard financing category will include mainly interest and other expenses related to interest-bearing liabilities. Also, the profit or loss before income taxes will change slightly, as interest income and expenses related to income taxes will be included in the income tax category. The figures in these interim financial statements are mainly presented in EUR thousands. As a result of rounding differences, the figures presented in the tables do not necessarily add up to total. This interim financial report has not been audited. In accordance with IFRS, the preparation of financial statements involves management’s estimates and assumptions. These reflect management’s best understanding at the reporting date, yet actual results may differ from the estimated values.
Page 26
25 (37) CONSOLIDATED STATEMENT OF FINANCIAL POSITION EUR thousand 30.9.2026 30.9.2025 31.12.2025 Assets Non-current assets Goodwill 15,496 15,496 15,496 Intangible assets 966 1,479 1,150 Property, plant and equipment 130,247 119,181 124,844 Right-of-use assets 7,493 9,391 8,617 Equity instruments 421 421 421 Other non-current receivables 127 137 155 Deferred tax assets 2,354 3,480 3,595 Total non-current assets 157,104 149,585 154,278 Current assets Inventories 51,567 42,014 40,443 Trade receivables 43,755 44,244 38,077 Other current receivables 8,273 6,910 6,869 Assets for current tax 889 576 660 Cash and cash equivalents 34,327 34,393 32,064 Total current assets 138,811 128,136 118,112 Total assets 295,915 277,721 272,391 Equity and liabilities Equity Share capital 11,860 11,860 11,860 Share premium account 24,681 24,681 24,681 Reserve for invested unrestricted equity 101,674 75,692 75,692 Fair value and other reserves 553 553 553 Exchange differences -3,568 -6,228 -6,751 Retained earnings -21,327 -6,405 -9,933 Total equity attributable to owners of the parent 113,872 100,153 96,102
Page 27
26 (37) Liabilities Non-current liabilities Deferred tax liabilities 4,395 4,989 4,278 Liabilities from defined benefit plans 172 179 173 Non-current provisions 625 569 579 Non-current lease liabilities 5,436 7,641 6,829 Other non-current interest-bearing liabilities 49,858 49,813 49,825 Debentures - 49,725 49,765 Total non-current liabilities 60,487 112,916 111,448 Current liabilities Debentures 49,873 - - Current provisions - 85 - Current lease liabilities 3,020 2,854 2,837 Liabilities for current tax 99 401 5 Trade payables and other current liabilities 68,564 61,312 61,998 Total current liabilities 121,555 64,652 64,840 Total liabilities 182,043 177,568 176,289 Total equity and liabilities 295,915 277,721 272,391 CONSOLIDATED STATEMENT OF PROFIT OR LOSS EUR thousand 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Net sales 101,098 99,767 302,295 317,095 412,433 Cost of goods sold -94,117 -93,690 -284,321 -295,669 -386,153 Gross profit / loss 6,981 6,077 17,974 21,426 26,280 Other operating income 947 442 2,891 1,951 2,619 Sales, marketing and administration expenses -7,502 -6,775 -25,382 -23,469 -31,503 Research and development expenses -483 -540 -1,651 -2,198 -2,811 Other operating expenses -482 19 -559 -380 -489 Operating profit / loss -539 -777 -6,727 -2,670 -5,904 Net financial expenses -1,231 -1,341 -3,388 -6,102 -7,467 Profit / loss before income taxes -1,770 -2,117 -10,116 -8,772 -13,370 Income taxes -1,324 131 -1,656 617 1,300 Profit / loss for the period -3,095 -1,986 -11,772 -8,155 -12,070
Page 28
27 (37) Earnings per share, EUR Basic -0.02 -0.02 -0.11 -0.09 -0.13 Diluted -0.02 -0.02 -0.11 -0.09 -0.13 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME EUR thousand 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Profit / loss for the period -3,095 -1,986 -11,772 -8,155 -12,070 Other comprehensive income: Other comprehensive income that will be subsequently reclassified to profit or loss Exchange differences 163 308 3,568 -10,981 -11,513 Income taxes related to other comprehensive income -39 20 -385 1,441 1,449 Total 124 328 3,183 -9,541 -10,064 Other comprehensive income that will not be subsequently reclassified to profit or loss Remeasurements of defined benefit plans − − − − 5 Total − − − − 5 Total other comprehensive income 124 328 3,183 -9,541 -10,059 Total comprehensive income for the period -2,970 -1,658 -8,589 -17,696 -22,129
Page 29
28 (37) CONSOLIDATED STATEMENT OF CHANGES IN EQUITY EUR thousand Share capital Share premium account Reserve for invested unrestricted equity Exchange differences Fair value and other reserves Retained earnings Total equity attributable to owners of the parent Equity 1.1.2026 11,860 24,681 75,692 -6,751 553 -9,933 96,102 Profit / loss for the period − − − − − -11,772 -11,772 Other comprehensive income − − − 3,183 − 0 3,183 Total comprehensive income − − − 3,183 − -11,772 -8,589 Share-based payments − − − − − 388 388 Conveyance of treasury shares − − − − − -11 -11 Right issue(1 − − 25,981 − − - 25,981 Equity 30.9.2026 11,860 24,681 101,674 -3,568 553 -21,327 113,872 1)Net amount after deducting transaction costs EUR thousand Share capital Share premium account Reserve for invested unrestricted equity Exchange differences Fair value and other reserves Retained earnings Total equity attributable to owners of the parent Equity 1.1.2025 11,860 24,681 75,692 3,312 436 1,626 117,608 Profit / loss for the period − − − − − -8,155 -8,155 Other comprehensive income − − − -9,541 − − -9,541 Total comprehensive income − − − -9,541 − -8,155 -17,696 Share-based payments − − − − − 176 176 Conveyance of treasury shares − − − − − 65 65 Transfers 117 -117 − Equity 30.9.2025 11,860 24,681 75,692 -6,228 553 -6,405 100,153
Page 30
29 (37) EUR thousand Share capital Share premium account Reserve for invested unrestricted equity Exchange differences Fair value and other reserves Retained earnings Total equity attributable to owners of the parent Equity 1.1.2025 11,860 24,681 75,692 3,312 436 1,626 117,608 Profit / loss for the period − − − − − -12,070 -12,070 Other comprehensive income − − − -10,064 − 5 -10,059 Total comprehensive income − − − -10,064 − -12,065 -22,129 Share-based payments − − − − − 562 562 Conveyance of treasury shares − − − − − 61 61 Transfers − − − − 117 -117 − Equity 31.12.2025 11,860 24,681 75,692 -6,751 553 -9,933 96,102
Page 31
30 (37) CONSOLIDATED STATEMENT OF CASH FLOWS EUR thousand 1–9/ 2026 1–9/ 2025 1–12/ 2025 Cash flow from operations Profit / loss for the period -11,772 -8,155 -12,070 Total adjustments to profit / loss for the period 18,247 18,578 23,977 Cash flow before changes in net working capital 6,476 10,423 11,906 Change in net working capital -8,060 854 8,348 Financial items -5,824 -4,804 -6,123 Income taxes -1,100 -1,283 -1,913 Cash flow from operations -8,509 5,190 12,218 Cash flow from investments Investments in property, plant and equipment and intangible assets -13,606 -17,179 -25,588 Sales proceeds from property, plant and equipment and intangible assets - 90 120 Cash flow from investments -13,606 -17,089 -25,468 Cash flow from financing Drawdown of non-current interest-bearing liabilities - 50,000 50,000 Drawdown of current interest-bearing liabilities - 48,000 88,000 Repayment of current interest-bearing liabilities - -88,000 -128,000 Repayment of lease liabilities -2,310 -2,080 -2,848 Rights issue 27,764 - - Rights issue costs -1,782 - - Cash flow from financing 23,671 7,920 7,152 Change in cash and cash equivalents 1,557 -3,979 -6,098 Cash and cash equivalents at the beginning of the period 32,064 41,340 41,340 Effect of changes in exchange rates 706 -2,968 -3,177 Change in cash and cash equivalents 1,557 -3,979 -6,098 Cash and cash equivalents at the end of the period 34,327 34,393 32,064 * Change in net working capital includes capital grant EUR 4.2 million received in August 2026
Page 32
31 (37) NOTES NOTE 1. NET SALES BY GEOGRAPHICAL MARKET AREA NOTE 2. QUARTERLY SALES BY BUSINESS AREA NOTE 3. RELATED PARTY INFORMATION NOTE 4. CHANGES IN PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND RIGHT- OF-USE ASSETS NOTE 5. CHANGES IN INTEREST-BEARING LIABILITIES NOTE 6. CONTINGENT LIABILITIES NOTE 7. FINANCIAL ASSETS BY CATEGORY NOTE 8. FINANCIAL LIABILITIES NOTE 9. FAIR VALUE MEASUREMENT HIERARCHY NOTE 10. EVENTS AFTER THE REPORTING PERIOD NOTE 1. NET SALES BY GEOGRAPHICAL MARKET AREA EUR thousand 1–9/2026 1–9/2025 1–12/2025 Finland 2,192 2,929 3,725 Rest of Europe 112,513 112,964 147,322 North and South America 187,126 200,802 260,942 Rest of the world 465 399 444 Total 302,295 317,095 412,433 NOTE 2. QUARTERLY SALES BY BUSINESS AREA 2026 2025 EUR thousand 7–9 4–6 1–3 10–12 7–9 4–6 1–3 Americas 63,834 65,720 55,629 58,839 60,279 59,874 73,577 EMEA 37,177 39,863 39,979 36,504 39,497 39,981 43,935 Unallocated exchange differences and eliminations 87 18 -13 -5 -10 -29 -11 Total 101,098 105,602 95,596 95,338 99,767 99,827 117,501 NOTE 3. RELATED PARTY INFORMATION Suominen has defined the members of the Board, the CEO and other members of the Suominen Leadership Team and their closely associated persons and entities as related parties of the Company
Page 33
32 (37) and maintains a list of such persons and entities. Suominen has no associated companies or joint ventures. In its transactions with related parties Suominen follows the same commercial terms as in transactions with third parties. In September 2026, Suominen announced that the Board of Directors had resolved on changes to the Company’s existing share-based incentive plans, including the long-term share-based incentive plan for management and key employees and the restricted share unit plan for selected key employees. The changes also concerned President and Chief Executive Officer Charles Héaulmé’s share-based signing bonus and annual share contribution arrangement. The changes were related to the rights issue completed during the summer of 2026, which increased the total number of shares in the Company from 58,259,219 to 135,380,491. Suominen transferred, without consideration, a total of 324,000 treasury shares to President and CEO Charles Héaulmé as a signing bonus on September 30, 2026 NOTE 4. CHANGES IN PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND RIGHT- OF-USE ASSETS 30.9.2026 30.9.2025 31.12.2025 EUR thousand Property, plant and equipment Intangible assets Property, plant and equipment Intangible assets Property, plant and equipment Intangible assets Carrying amount at the beginning of the period 124,844 1,150 120,356 2,754 120,356 2,754 Capital expenditure and increases 12,340 350 16,832 147 26,130 160 Disposals and decreases − − 0 − -46 − Depreciation, amortization and impairment losses -9,515 -536 -9,062 -1,418 -12,569 -1,761 Exchange differences and other changes 2,578 3 -8,946 -4 -9,028 -4 Carrying amount at the end of the period 130,247 966 119,181 1,479 124,844 1,150 • The new production line ramp-up in Alicante, Spain is underway and will continue throughout the remainder of 2026. Goodwill is not included in intangible assets. 30.9.2026 30.9.2025 31.12.2025 EUR thousand Right-of-use assets Right-of-use assets Right-of-use assets Carrying amount at the beginning of the period 8,617 11,003 11,003
Page 34
33 (37) Increases 1,065 1,220 1,195 Disposals and decreases -107 -170 -202 Depreciation, amortization and impairment losses -2,170 -2,157 -2,872 Exchange differences and other changes 88 -505 -506 Carrying amount at the end of the period 7,493 9,391 8,617 NOTE 5. CHANGES IN INTEREST-BEARING LIABILITIES EUR thousand 1–9/2026 1–9/2025 1–12/2025 Total interest-bearing liabilities at the beginning of the period 109,256 101,760 101,760 Current liabilities at the beginning of the period 2,837 42,877 42,877 Repayment of lease liabilities, cash flow items -2,310 -2,080 -2,848 Repayment of current liabilities, cash flow items - -88,000 -128,000 Drawdown of current liabilities, cash flow items - 48,000 88,000 Increases in current liabilities, non-cash flow items 408 350 376 Decreases of current liabilities, non-cash flow items -77 -95 -108 Reclassification from non-current liabilities 51,969 1,992 2,735 Exchange rate difference, non-cash flow item 65 -190 -194 Current liabilities at the end of the period 52,892 2,854 2,837 Non-current liabilities at the beginning of the period 56,654 9,277 9,277 Increases in non-current liabilities, cash flow items - 50,000 50,000 Increases in non-current liabilities, non-cash flow items 657 870 819 Decreases of non-current liabilities, non-cash flow items -21 -79 -91 Reclassification to current liabilities -2,096 -1,992 -2,735 Periodization of interest-bearing non-current liabilities to amortized cost, non-cash flow items 33 -187 -175 Exchange rate difference, non-cash flow item 67 -436 -442 Non-current liabilities at the end of the period 55,295 57,453 56,654 Non-current debentures at the beginning of the period 49,765 49,606 49,606 Reclassification to current liabilities -49,765 - - Periodization of debentures to amortized cost, non-cash flow items - 119 159 Non-current debentures at the end of the period - 49,725 49,765 Total interest-bearing liabilities at the end of the period 108,187 110,032 109,256
Page 35
34 (37) NOTE 6. CONTINGENT LIABILITIES EUR thousand 30.9.2026 30.9.2025 31.12.2025 Other commitments Rental obligations 366 462 401 Contractual commitments to acquire property, plant and equipment 3,100 10,186 3,699 Commitments to leases not yet commenced 90 365 458 Guarantees On own behalf 1,143 1,622 1,088 Other own commitments 14,636 12,198 24,345 Total 15,779 13,820 25,433 NOTE 7. FINANCIAL ASSETS BY CATEGORY a. Financial assets at amortized cost b. Financial assets at fair value through other comprehensive income c. Carrying amount d. Fair value Classification EUR thousand a. b. c. d. Equity instruments − 421 421 421 Trade receivables 43,755 − 43,755 43,755 Interest and other financial receivables 991 − 991 991 Cash and cash equivalents 34,327 − 34,327 34,327 Total 30.9.2026 79,074 421 79,495 79,495 EUR thousand a. b. c. d. Equity instruments − 421 421 421 Trade receivables 38,077 − 38,077 38,077 Interest and other financial receivables 239 − 239 239 Cash and cash equivalents 32,064 − 32,064 32,064 Total 31.12.2025 70,380 421 70,801 70,801
Page 36
35 (37) Principles in estimating fair value of financial assets for 2026 are the same as those used for preparing the consolidated financial statements for 2025. On 30 September 2026, the Group had a significant credit risk exposure to one counterparty arising principally from trade receivables. The gross carrying amount of the exposure was EUR 12.1 million, representing approximately 28% of the Group's total credit risk exposure from trade receivables. Based on the company’s assessment, the credit risk attributable to these specific receivables was elevated. The related loss allowance was EUR 0.5 million at 30 September 2026. NOTE 8. FINANCIAL LIABILITIES 30.9.2026 31.12.2025 EUR thousand Carrying amount Fair value Nominal value Carrying amount Fair value Nominal value Non-current financial liabilities Debentures - - - 49,765 46,530 50,000 Non-current loans from financial institutions 49,858 50,000 50,000 49,825 50,000 50,000 Lease liabilities 5,436 5,436 5,436 6,829 6,829 6,829 Total non-current financial liabilities 55,295 55,436 55,436 106,419 103,359 106,829 Current financial liabilities Debentures 49,873 47,670 50,000 - - - Lease liabilities 3,020 3,020 3,020 2,837 2,837 2,837 Interest accruals 239 239 239 426 426 426 Other current liabilities 166 166 166 312 312 312 Trade payables 50,522 50,522 50,522 49,192 49,192 49,192 Total current financial liabilities 103,820 101,617 103,947 52,768 52,768 52,768 Total 159,114 157,053 159,383 159,187 156,127 159,597 Principles in estimating fair value for financial liabilities for 2026 are the same as those used for preparing the consolidated financial statements for 2025. At the end of June 2025, Suominen entered into a single-currency syndicated credit facility agreement which consists of EUR 50 million term loan and EUR 50 million revolving credit facility with a maturity
Page 37
36 (37) of three years with a one-year extension option. The lenders for the facility are Danske Bank A/S and Nordea Bank Abp. On May 18, 2026, Suominen announced that it is planning a fully underwritten rights issue to raise gross proceeds of up to approximately EUR 28 million through an offering based on shareholders’ pre-emptive subscription rights. The rights issue was successfully arranged and oversubscribed in June 2026. In the offering, the company received a gross amount of approximately EUR 28 million (a net amount of EUR 26.0 million, taking into account the costs of the rights offering accumulated up to the end of September). The funds were received in early July 2026. Connected to the rights issue, during the second quarter Suominen signed a two-year maturity extension to the credit facility agreement including additional headroom to the financial covenants. The agreement entered into force on July 3, 2026, upon the completion of the rights issue. The revolving credit facility was undrawn at the end of September, 2026. EUR 3 million of the facility was allocated to a letter of credit limit, part of which was in use The financial covenants of these loans consist of leverage ratio, gearing and minimum liquidity. The covenants are regularly monitored and tested. Suominen was in compliance with financial covenants at the end of the review period. Subsequent to the review period and as part of regular process of analysing the covenant headroom, Suominen has negotiated additional headroom to its leverage ratio covenant level as of end of December 2026. Suominen has issued a senior unsecured bond in 2021 of EUR 50 million. The interest rate is 1.50% and the six-year bond matures on June 11, 2027. Suominen is considering various refinancing alternatives and expects to complete the refinancing in due time before the bond matures. NOTE 9. FAIR VALUE MEASUREMENT HIERARCHY EUR thousands Level 1 Level 2 Level 3 Financial assets at fair value Equity instruments − − 421 Total 30.9.2026 − − 421 Principles in estimating fair value of financial assets and their hierarchies for 2026 are the same as those used for preparing the consolidated financial statements for 2025. There were no transfers in the fair value measurement hierarchy levels during the reporting period.
Page 38
37 (37) SUOMINEN CORPORATION Board of Directors For additional information, please contact: Charles Héaulmé, President & CEO, tel. +358 10 214 3268 Kimmo Raunio, CFO, tel. +358 10 214 3053 Suominen manufactures nonwovens as roll goods for wipes and other applications. Our vision is to be the frontrunner for nonwovens innovation and sustainability. The end products made of Suominen’s nonwovens are present in people’s daily life worldwide. Suominen’s net sales in 2025 were EUR 412.4 million and we have almost 700 professionals working in Europe and in the Americas. Suominen’s shares are listed on Nasdaq Helsinki. Read more at www.suominen.fi. Distribution: Nasdaq Helsinki Main media www.suominen.fi